Whereas USI-Tech regulatory warnings by other Canadian provinces have been mostly passive (alerts, warnings etc.), Ontario has upped the stakes by issuing a temporary cease trade order against the company and two affiliates. [Continue reading…]

When you’re just another pump and dump altcoin launch in a see of thousands, you can either work on actually adding to cryptocurrency or try to gimmick your way to legitimacy.

Through the hiring of Steven Seagal as Brand Ambassador, take a guess which route BitCoiin have chosen. [Continue reading…]

Following a Temporary Restraining Order granted against Digital Altitude and owner Michael Force on January 29th, a preliminary injunction hearing was scheduled for February 15th.

On February 12th the FTC filed a joint Stipulation to a Continuance of the hearing, which was granted the same day. [Continue reading…]

Vital Card operate in the financial services MLM niche and appear to be based out of California.

Heading up the company are co-founders Chris Bridges (Chairman) and Vincent Bradley (CEO).

According to the Vital Card website, they are

a team of entrepreneurs, bankers, lawyers and creative tech individuals that share a common goal of launching a credit card where the community comes first.

We are results-driven innovators who have worked on successful products at companies including Google, Charles Schwab, PWC Goldman Sachs and Card.com.

Prior to co-founding Vital Card, Chris Bridges and Vincent Bradley separately and respectively launched Vessix (2013) and Flash Funders (2011).

Vessix has since closed but as per a company bio developed ‘technology for consolidating POS, CRM and reporting‘.

FlashFunders’ corporate bio meanwhile sounds pretty similar to that of Vital Card;

We’re a team of entrepreneurs, bankers, lawyers and creative tech individuals that shares a common goal of connecting investors and companies to make their visions a reality.

As far as I’m aware Vital Card is both Chris Bridges and Vincent Bradley’s first MLM venture.

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

Despite Questra World and Atlantic Global Asset Management attempting to portray themselves as Spanish companies with African ties, it was always obvious that someone from Russia or a neighboring country was pulling the strings.

Turns out I was right on the money, following the arrest of Pavel Krymov in Moscow on February 6th. [Continue reading…]

WCM777 was an MLM Ponzi scheme shut down by the SEC in March, 2014.

A Receivership was appointed immediately after and has been overseeing victim refunds from seized assets for just shy of four years.

In the Receiver’s February 13th Sixteenth and Final Interim Report, it has been announced the WCM777 Receivership is finally winding down. [Continue reading…]

A few years ago forex MLM Ponzi schemes were all the rage in Malaysia.

One of the top companies to dominate the space was FX United.

As is custom among Malaysian scams, FX United’s owners went to great lengths to project the company wasn’t Malaysian.

This saw the incorporation of United Global Holdings Limited in New Zealand, as well as inconsequential ties to the UK and Australia.

Eventually New Zealand wised up to FX United but by then the damage was done.

FX United would go on to collapse in early 2017, resulting in over $250 million dollars in losses.

Unknown to us, authorities in Malaysia continued to investigate FX United after its collapse.

That long-running investigation lead to the arrest of three admins last weekend. [Continue reading…]

Amzbit operate in the e-commerce MLM niche and provide a corporate address in Florida on their website.

On the “our story” section of the Amzbit website, Burke Hedges and Sean Connors are cited as “the minds behind Amzbit”.

Burke Hedges and Sean Connors, the minds behind Amzbit, recognized that greed and corruption had taken over a lot of business and were looking for a positive way to help people earn money while also providing 100% transparency.

A chance meeting, that turned into a brainstorming session eventually gave rise to the idea of Amzbit.

Burke Hedges is a former top earner in LifeVantage.

Following an investigation into Hedges for misconduct, Hedges was terminated as a LifeVantage affiliate in August, 2011.

A month later Hedges sues LifeVantage for wrongful termination.

An initial ruling on the case was issued in favor of Hedges, but in an unpredictable move the judge reversed the decision after damages were assessed in the multi-millions.

The reason for the reversal was allegedly that Hedges caused the initial material breach of contract, not with misconduct but under new allegations by the defendant that he used a proprietary training tool without permission. A claim that Hedges denies.

According to an article on Medium by “writer & marketeer” Melissa Razdrih, published November 17th, 2017,

a trial is scheduled for Monday, November 27th to bring to light the truth of this case.

In a followup article published on November 22nd, Razdrih wrote

In a hearing Monday, November 20th, a judge in the 3rd District Court of Salt Lake County ruled Burke Hedges and legal team will not be allowed to present their entire case in front of a jury at Monday’s trial.

The case, which is set to go to jury trial Monday November 27th, is a last ditch effort for Hedges to prove his allegation that LifeVantage (LFVN) is guilty of wrongful termination and defamation.

This ruling is a devastating blow for the Hedges camp.

A third article published on November 24th claims Hedges lost the case.

The decision was made that if Hedges was in breach of contract he is strictly liable for the termination that resulted.

And since the judge had already ruled that the material breach was on Hedges, he will have to wait until appeals to present the MLM Civil Trial of the Century worth $34 million in damages and a chance to stand up for distributor rights.

So what does that mean for Monday? For now, the MLM Civil Trial of the Century is to be continued in appeals court.

Instead, the Hedges team will present an undisputed case for $60,000 that LifeVantage did not make good on as part of their contractual obligation.

This case doesn’t appear on Pacer so I’m unable to track it myself.

After LifeVantage Hedges was an affiliate with Numis Network for a few years.

Sean Connors meanwhile is a bit of a mystery. I was unable to find anything previously tying him to the MLM industry.

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

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

The PinCoin website domain (“pincoin.io”) was privately registered on November 18th, 2017.

Two possibilities are Japan and South Korea. Alexa currently estimate that almost 40% of traffic to the PinCoin website originates out of these two countries.

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…]

In contrast to the granting of a Temporary Restraining Order (TRO) against BitConnect in the Kentucky class-action, a Judge has denied essentially the same motion in Florida. [Continue reading…]