Piggy Bank provide no information on their website about who owns or runs the business.

The Piggy Bank website domain (“piggy-bank.io”) was privately registered on June 2nd, 2017.

Despite this, Piggy Bank claim its “history … goes back to the year 2000”.

Alexa traffic estimates reveal Piggy Bank in its current incarnation launched a few weeks ago in early January.

A UK incorporation corresponding to “Piggy B. Limited” is provided on the Piggy Bank website.

Piggy B. Limited was incorporated through a residential address in London on June 6th, a few days after the Piggy Bank website domain was registered.

Bruce Whatley is listed as the sole Director of the company and presumed not to exist.

UK incorporation is dirt cheap and for the most part unregulated. It is a favorite for scammers looking to incorporate dodgy companies.

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…]

When exactly OneCoin began to run out of money is unclear.

By January, 2017, however, affiliate withdrawals exceeded new investment such that the internal exchange had to be shut down.

Despite promises of an exploding coin value for over two years, effective January, 2017, OneCoin severed affiliates from their invested funds.

Over 2017 OneCoin continued to solicit new investment, however without ROI withdrawals the business tanked.

By the end of 2017 OneCoin had all but collapsed, with only a handful of extremely desperate affiliates left to toe the company line.

Minus recruitment commissions, which were paid out directly, it is believed the majority of funds invested into OneCoin primarily benefited owner Ruja Ignatova and her family.

In addition to a $20 million dollar property empire and $15 million dollar yacht, Ignatova is now building a new $2.5 million dollar coastal mansion. [Continue reading…]

Hedge Connect provide no information on their website about who owns or runs the business.

The Hedge Connect website domain (“hedgeconnect.co”) was privately registered on November 29th, 2017.

In the Hedge Connect whitepaper, the company claims its “development is in southeast Asia”.

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…]

R2B Coin claim to be “processed and managed” by Williams Corporation Limited, a company purportedly based out of Hong Kong.

Other than stating Williams Corporation is “a licensed global firm which operates as a service provider”, no further information about the company is provided.

Two executives are featured on the R2B Coin website, David Wu (Asian Marketing Director) and Eddie Lo (Business Director).

Wu’s corporate bio states he’s an American citizen originally from Taiwan.

He holds a real estate license in the state of California and has experience building and selling million dollar homes in Palo Alto, California. He also has experience working in California hospitals as an Emergency Room Technician.

When he returned to Taiwan from the US in 2008, he helped coach Taiwan’s Olympic swim team.

He has owned restaurants in Las Vegas, Nevada, Los Angeles, California and, most recently, in Taipei, Taiwan.

Mr. Wu speaks five languages fluently and he has been engaged in network marketing for over 30 years, primarily in Taiwan and in China.

No details about Wu’s purported thirty-year history in network marketing are provided.

Read on for a full review of the R2B Coin MLM opportunity. [Continue reading…]

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

The AreszCoin website domain (“areszcoin.com”) was registered on November 13th, 2017. Hong Kong is listed as the registrant country but other than that the registration details appear to be bogus.

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…]

Traffic Monsoon’s injunction appeal appears to have hit a roadblock.

The issue at hand is the role of the Receivership and to what extent the Receiver can represent Traffic Monsoon in the appeals process. [Continue reading…]

Swiss Mine launched about a year ago as a OneCoin Ponzi points clone.

Swiss Mine affiliates invested in pre-generated Ducatus points, which were marketed as a bitcoin alternative.

As a hard fork of bitcoin Ducatus will work in a very similar way to Bitcoin.

Ducatus will use an almost identical set of rules and we will run our own software on e-wallets to establish, build, maintain and manage its own decentralised blockchain.

For no evident reason, recently Swiss Coin decided to rebrand itself as Ducatus Network.

Visitors to the former Swiss Coin website are advised;

As part of our rebranding efforts, the landing page for  swissmine has now changed to ducatus.

We will continue to use swissmine backoffice to login to your dashboard.

The Ducatus Management

Unfortunately despite offering pre-generated Ducatus points to affiliates for roughly a year, Ducatus is still nothing more than internal points generated via a script. [Continue reading…]

Munafa Network Marketing launched in 2017 and operated with one of the more bizarre MLM business models I’ve seen.

For an investment of Rs. 25,000 PKR ($225 USD), Munafa Network Marketing affiliates were promised delivery of a motorbike within 45 days.

After initially managing to distribute some 20,000 motorbikes, eventually the business collapsed.

This prompted an investigation by three separate government agencies, eventually leading to the arrest Muhammad Ahmad Sayal, owner of the company. [Continue reading…]

Trevon James is one of the top US BitConnect investors.

Along with most of the other top US BitConnect investors, James primarily promoted BitConnect through a YouTube channel.

At the time of publication James’ channel boasts 137,000 subscribers.

Not surprisingly, following BitConnect’s collapse shills like James have been copping a lot of flak.

[5:04] I’m getting blasted, you know what I’m saying? Because of other people’s decisions.

There are countless investor stories collectively details millions of dollars on losses (you can read these yourself on Reddit and YouTube).

Rather than acknowledge they made a ton of money recruiting people into a Ponzi scheme, top YouTube promoters are adamant they had no role in their subscriber’s losses.

[5:11] I never told anyone to do anything. I never told you guys to do anything.

I just said… now I might have broadcasted it and said, “Hey look, look what I’m doing”, but I never told anyone what to do with their money.

Hell, Trevon James doesn’t even acknowledge BitConnect is a Ponzi scheme… [Continue reading…]

20K BTC provide no information on their website about who owns or runs the business.

The 20K BTC website domain (“20kbtc.com”) was privately registered on November 4th, 2017.

Further research reveals marketing material citing Richard D Raymond named as the owner of 20K BTC.

Now here’s where things get strange. Real strange.

A visit to the Texas State Bar confirms Richard Raymond is a practicing attorney.

PRACTICE INFORMATION
Firm: Richard Raymond, Attorney at Law

Firm Size: Solo

Occupation: Private Law Practice

Practice Areas: Business, Consumer, Litigation: Personal Injury, Real Estate, Taxation, Wills-Trusts-Probate

In 2009 Raymond was even campaigning to be the next Fort Country District Attorney.

So we appear to have a bona fide lawyer running an MLM bitcoin opportunity. This should be good.

Read on for a full review of the 20K BTC MLM opportunity. [Continue reading…]