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

The GainMax Capital website domain (“gainmax.co.uk”) was registered on June 20th, 2017.

George Foster is listed as the domain owner, through a virtual office address in London, UK.

GainMax Capital provide a UK incorporation certificate for GainMax Capital Limited on their website.

GainMax Capital Limited was incorporated on June 21st, 2017. The address used to incorporate GainMax Capital Limited is the same virtual address used in the website domain registration.

George Foster is listed as the sole Director of the company, through a different virtual office address in London.

Alexa traffic estimates meanwhile strongly suggest GainMax Capital is in fact being operated out of Indonesia. As I write this Alexa estimate 63% of all traffic to the GainMax Capital website originates out of Indonesia.

Broken English on the GainMax Capital website also supports this:

WHY INVESTMENT WITH GAINMAX?

Given this, the virtual addresses used to incorporate GainMax Capital Limited in the UK, fake Fiverr’esque testimonial videos featured on the GainMax Capital website and no publicly available information tying him to the company, it is assumed George Foster doesn’t actually 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…]

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

The Velocity Token website domain (“velocitytoken.io”) was privately registered on December 21st, 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…]

Just a quick update on the Traffic Monsoon appeal, following arguments from both parties to be heard scheduled for March 21st.

Both the SEC and Scoville have acknowledged the date, so barring any unforeseen events between now and then the hearing should take place. [Continue reading…]

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

The Teno Coin website domain (“teno.io”) was privately registered on January 2nd, 2018.

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…]

A testimonial from Arla Mendenhall on the Bitcoin Ascension website identifies Ivan Mircic, Tom Kent, Amber Lee as admins of the company.

The Bitcoin Ascension website domain (“bitcoinascension.com”) was privately registered on November 2nd, 2017.

On Ivan Mircic’s Facebook page he refers to Bitcoin Ascension as “my program”.

In a Facebook post dated December 3rd, 2017, Mircic (right) confirms he owns the company:

After a lot of work I have designed and will be launching my own program today.

Being the owner is an exciting feeling and I can’t wait to share it will everyone.

Ivan Mircic first appeared on BehindMLM’s radar in 2015, as one of the Facebook group admins for the Money Go Round Ponzi scheme.

Money Go Round was modeled on the Achieve Community Ponzi scheme, which the SEC shut down in February, 2015.

As with most residents of the MLM underbelly, Mircic has transitioned seamlessly into cryptocurrency fraud.

Scams promoted by Mircic over the past year include Double Your BTC (bitcoin Ponzi doubler) and Click Intensity’s failed Ads Cash pump and dump ICO. [Continue reading…]

At one time there was a charity bearing the same name as the Helping Hands International pyramid scheme.

So when I read a firm named Helping Hands International recently held a training event for Nigerian policeman, I assumed it was an initiative of the charity.

Nope, turns out Nigerian policemen are being “trained” by the pyramid scheme. [Continue reading…]

Tavala operate in the health and nutrition MLM niche and operate out of Utah in the US.

Heading up Tavala is founder Boyd Wathen and CEO Allen Davis.

According to Wathen’s Tavala corporate bio he

made his fortunes holding multiple patents for his inventions in various industries.

He married his love for science and health by formulating products for very large Network Marketing companies.

Wathen along with partner David Brown is credited as the creator of Plexus Worldwide’s Slim wight loss supplement.

Also known as the “pink drink”, Slim is one of the most widely recognized products in the MLM industry.

After a falling out with Plexus, Wathen and Brown went on to launch TruVision Health.

TruVision Health are still in business and David Brown listed as a “founding partner” on the company website. There’s no mention of Boyd Wathen.

On his LinkedIn profile, Wathen also cites himself as co-founder of N4U International. I wasn’t able to find anything further on this company.

More recently, Wathen was named as the “primary investor” in Divvee.

Tavala CEO Allen Davis (right) was also the CEO of Divvee. Davis also served as general counsel for TruVision Health.

Divvee initially launched in 2015 with a monthly membership model providing access to discounts. The company revamped itself a few months later as promotional platform. which has since devolved into some questionable business decisions.

Mid last year Divvee rebranded as Nui and has since made some questionable business decisions.

I’m not 100% sure but I believe Davis and Wathen left during the Nui merger with Hodo Global, whose management leads the company today.

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

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

The PolyNetwork website domain (“polynetwork.org”) was privately registered on October 2nd, 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…]

Home Block Coin provide no information on their website about who owns or runs the company on their website.

The Home Block Coin website domain (“homeblockcoin.com”) was privately registered 19th October, 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…]

Despite assurances to the contrary, USI-Tech continues to run foul of securities regulation in Canada.

The latest is a cease and desist issued by the Financial and Consumer Affairs Authority of Saskatchewan (FCAA). [Continue reading…]