There’s a reason the term “monopoly money” was coined to refer to money paid to Ponzi investors they don’t actually receive.

Typically these payments are represented in affiliate backoffices and often times they’re reinvested in pursuit of higher gains.

On the backend of the scam the money doesn’t exist, with reinvestment buying the admin(s) time to shuffle what money does exist elsewhere within the scheme.

Trade Coin Club is one such Ponzi scheme launched in late 2016.

As per the company’s business model, Trade Coin Club affiliates invest bitcoin on the promise of an advertised daily ROI of up to 0.45% for up to 12 months.

Trade Coin Club claims it generates ROI revenue through cryptocurrency trading, however no evidence of trading taking place is provided.

Alexa statistics show traffic to Trade Coin Club’s website flatlined earlier this year in May.

For a Ponzis scheme this is a problem, as without new investment from constant growth ROI payment withdrawals for existing affiliates are not possible.

Over in Nigeria, the third largest source of traffic to the Trade Coin Club website according to Alexa, signs of a collapse recently surfaced. [Continue reading…]

Canadian Zeek Rewards scammer Sandra Gavel’s response to clawback litigation filed against her was somewhat confusing.

Upon being served papers on behalf of the Zeek Receiver, Gavel penned a letter to the court to inform it she didn’t consent to US jurisdiction.

This didn’t mean anything legally, and so the Receiver filed a motion requesting legal clarification on Gavel’s filing.

The court classified Gavel’s letter as a pro se Motion to Dismiss and promptly denied it.

That was late 2015, with the Receiver filing for Summary Judgment against Gavel in early 2017.

Roughly eight months later Judge Mullen has finally ruled on the matter. [Continue reading…]

Cleber Rocha, accomplice of TelexFree’s Carlos Wanzeler, was indicted back in March for money laundering.

The indictment followed the arrest of Rocha in January, after authorities caught him distributing large sums of money on Wanzeler’s behalf.

Information provided by Rocha lead to the seizure of twenty million dollars, hidden under a mattress in an apartment Rocha was staying at.

Upon indictment Rocha entered a not guilty plea on April 5th.

His latest filing on the case docket however suggests that’s going to change later this month. [Continue reading…]

Laser Online launched a few months ago and operate in the cryptocurrency MLM niche.

The company claims to be incorporated in the US state of Delaware and names Antonio Garley as CEO on its website.

Garley seems to exist solely in marketing images published on the Laser Online website. I was unable to find any third-party information on him (on any platform), which I’m flagging as highly suspicious.

As for the Delaware incorporation, a “certificate of formation” published on the Laser Online website reveals it was done through Harvard Business Services.

Harvard Business Services offer company formation services in Delaware. The address featured on the certificate is also that of Harvard Business Services.

What this means is Laser Online has no physical presence in Delaware and is operating as a shell company.

Where Laser Online is actually being operated out of and the location of its management are unclear.

The Laser Online website domain (“laser.online”) was initially privately registered on October 23rd, 2016.

The domain registration was last updated on June 13, 2017, suggesting this is when the current owners acquired it.

The official Laser Online Facebook profile was created three weeks later on July 8th.

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…]

EZ Bitcoin Matrix provide no information about who owns or runs the company on their website.

The EZ Bitcoin Matrix website domain (“ezbitcoinmatrix.com”) was privately registered on May 4th, 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…]

The beef between Youngevity and Wakaya Perfection continues to intensify.

In a September 12th filing, Youngevity filed a motion requesting sanctions for witness tampering. [Continue reading…]

Coins N Dollars provide no information on their website about who owns or runs the business.

The Coins N Dollars website domain (“coinsndollars.com”) was privately registered on July 13th, 2017.

The official Coins N Dollars Facebook group has one admin, Jack Browne.

The Jack Browne profile was created in May, 2016 and has no content other than a few profile photo changes. This suggests the account is bogus and was likely recently purchased by whoever is actually running Coins N Dollars.

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…]

Malaysian authorities have a reputation of being one step behind scammers that operate locally.

Recently the country has lifted its regulatory game, but unfortunately it’s still far to easy for those running Malaysian scams to evade arrest. [Continue reading…]

Titan Trade Club provide no information on their website about who owns or runs the business.

The Titan Trade Club website domain (“titantradeclub.com”) was privately registered on July 18th, 2017.

A marketing video on the Titan Trade Club website is hosted on a YouTube channel bearing the name “Willian Heloy”.

According to Heloy’s Facebook profile, he’s based out of Sao Paulo in Brazil.

Based on the information currently available, Heloy’s specific role within Titan Trade Club isn’t clear.

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…]

Ad Pack Pro was a Ponzi scheme initially launched in 2015. The  current adcredit iteration was launched on or around March, 2016.

Headed up by CEO Peter Mueller (right), Ad Pack Pro solicited  €25 EUR investment deposits on the promise of a  €30 EUR ROI.

By January 2017 the scheme had collapsed, prompting a flood of complaints to the Public Prosecutors Office in Basel, Switzerland.

After some fifty complaints against Ad Pack Pro and Muller had been filed, Public Prosecutors opened an investigation back in May. [Continue reading…]