Authorities in India traced funds stolen by OneCoin affiliates to a Mauritian woman named Mary Beyance.

Beyance worked with a partner in Bulgaria and, according to Indian authorities, sat atop a money laundering trail of at least $7.7 million USD.

According to the Mauritian newspaper Le Mauricien, authorities in Mauritius are now investigating OneCoin. [Continue reading…]

Star Bit provide no information on their website about who owns or runs the business.

The Star Bit website domain (“starbit.info”) was privately registered on April 29th, 2017.

As always, if an MLM company is not openly upfront about who is running or owns it, think long and hard about joining and/or handing over any money. [Continue reading…]

Project Ethereum operate in the cryptocurrency MLM niche and name John Johnson as CEO of the company.

Johnson is based out of Utah in the US and appears to have worked in the real estate and finance industry (loans) for a number of years.

As per Johnson’s Project Ethereum corporate bio;

John Johnson has been in sales and marketing for the past two decades. John has started many different companies over the years and also spent time as a consultant for small businesses.

John was previously working within a Crypto Currency Platform and realized there as a better way to assist members on building ad [sic] receiving donations.

The “cryptocurrency platform” referenced above is Bitcoin Funding Team.

Bitcoin Funding Team launched back in February and saw affiliates gift bitcoin to each other via a 2×5 matrix. Alexa traffic estimates for the Bitcoin Funding Team website suggest the company went into decline in early May.

Read on for a full review of the Project Ethereum MLM opportunity. [Continue reading…]

The Cycled Funds website identified the CEO of the company only as “Rold”.

The Cycled Funds website domain (“cycledfunds.in”) was registered on April 1st, 2017. Harold Nwabiani is listed as the owner, with an address in Lagos, Nigeria also provided.

Presumably “Rold” is an alias of Harold Nwabiani (right).

Earlier this year Nwabiani launched MegaPTCCash, a “pay to click” scheme. Today the MegaPTCCash website is unresponsive, suggesting the scheme has collapsed.

As far as I can tell, Cycled Funds is Nwabiani’s first MLM venture.

Read on for a full review of the Cycled Funds MLM opportunity. [Continue reading…]

Matriz Strategy provide no information on their website about who owns or runs the business.

The Matriz Strategy website domain (“matrizstrategy.com”) was registered on May 3rd, 2017. Jhoan Smith is listed as the owner, with an address in Cundinamarca, Colombia also provided.

As far as I can tell Jhoan Smith (“John Smith”) doesn’t exist and the Matriz Strategy domain registration details are bogus.

Marketing videos on the Matriz Strategy website are hosted on a YouTube account bearing the name “Marketing Latino”.

Various screenshots of affiliate backoffices on the Marketing Latino YouTube channel and Facebook page suggest the owners of the group are Wilter Amaro Alvarez and/or Antonio Sevilla.

I’m not sure where Alvarez is based out of but Sevilla operates from Florida in the US.

Sevilla openly advertises Marketing Latino opportunities on his Facebook page, whereas Alvarez is more low-key and only promotes scams via Facebook groups (his Facebook account wall is clean).

The Marketing Latino YouTube channel dates back three years and has been used to promote Infinity BTC Cycles (Ponzi cycler), Infinity BTC (bitcoin gifting),  Five2BTC (bitcoin gifting), ZarFund (bitcoin gifting), Fort Ad Pays (collapsed Ponzi scheme), Karatbars International (pyramid scheme), Spinding (Ponzi cycler) and Wenyard (stock market fraud).

As always, if an MLM company is not openly upfront about who is running or owns it, think long and hard about joining and/or handing over any money. [Continue reading…]

With $13.1 million dollars of stolen investor funds in the balance, the court’s decision to grant VictoriaBank a Motion to Dismiss on May 3rd was pretty unbelievable.

Along with dismissing the Receiver’s claims against the bank, the decision would also dissolve the freeze order currently in place.

That freeze order is the only thing stopping the $13.1 million dollars disappearing for good. [Continue reading…]

In Macedonia it is illegal to invest in cryptocurrency.

Following repeated general warnings about cryptocurrency, the country’s top financial regulator recently cited OneCoin as an example of a pyramid scheme. [Continue reading…]

Following the Central Bank of Malaysia adding MBI International to their national alert list earlier this month, over the last few days police have conducted raids and seized millions of dollars. [Continue reading…]

As per a report from the Korea JoongAng Daily, authorities in Korea have launched a police investigation into OneCoin. [Continue reading…]

Global Bitmax provide no information on their website about who owns or runs the company.

The Global Bitmax website domain (“globalbitmax.com”) was privately registered on March 3rd, 2017.

Further research reveals Global Bitmax affiliates naming Mauro Mangibin as owner of the company.

Mangibin (right) confirms this on his Facebook profile, as per a May 22nd post advertising Global Bitmax;

My First Ever Matrix/Cycler Is in Pre Launch.

We tested it, and Positive Result comes out.

Two of my Facebook friends already earned $200 each in couple of hours. Trust me this is Moving Very Fast.

Mangibin is based out of Marseille, France and has recently been promoting Platinum World Team Build (Ponzi cycler), 2×2 Club (bitcoin gifting), GladiaCoin (bitcoin Ponzi) and Bitcoin Builder (bitcoin gifting).

Read on for a full review of the Global Bitmax MLM opportunity. [Continue reading…]