Titus Community operates in the cryptocurrency niche and is headed up by CEO Maxim Moneta.

As per Moneta’s Titus Community corporate bio;

He is from Ukraine but has the last five years lived in Stockholm, Sweden, where he has been involved in several startup IT projects.

Presumably Titus Community is operated out of Sweden, however the company appears to consist of shell companies in various European jurisdictions.

Titus Community is the operating company in the Titus sphere.

The community and networking model is essential in the creation of many distributors able to link online and offline merchants to the Titus Coin world.

The linked companies will join Titus Community loyalty program and offer various discounts and cash backs.

30% of the profits from these services is used to operate Titus Community Ltd and profits are forwarded to Titus Invest Ltd.

Titus Invest Ltd is a holding company registered in Malta, holding the Intellectual Properties and 100% of the shares in Titus Community Ltd.

Titus Invest Ltd is owned 90% by Maddox Business Services Ltd, London, UK and 10% by VIP Coin Sparkassa Financial Union.

VIP Coin Sparkassa is a Swedish Financial Union and as such under control of the Swedish Financial Inspection according to the law (2004:297).

Seems pretty extreme for an MLM company no?

Of note is the mention of Fennas Finance, which Titus Community states

is an external service engaged by Titus Community and Titus Invest to deliver software for direct sales activities, payment services, compliance services and some operational functions.

Fennas Finance first popped up on BehindMLM’s radar in 2015, as part of the Icon Sachs Limited Ponzi scheme.

With the ownership of Ichon Sachs Limited also unknown, I concluded Fennas Finance was “a shady payment processor run by persons unknown.”

And here’s where things get really murky…

Swedish incorporation records for VIP Coin Sparkassa list Elena Anguelova Chipkovenska, Tor Anders Petteroe and Henning Witte on its Board of Members:

Tor Anders Petteroe is the CEO of Towah Group, a payment processor responsible for millions of dollars in Ponzi losses over the years.

Towah processed funds for Bidify, Funky Shark, Wenyard and Conligus. All Ponzi schemes whose respective collapses resulted in widespread investor losses.

The owner of Towah, Harald Ekker, recently launched his own Ponzi scheme, Crowdbridge Global.

In 2013 Norway’s FSA opened an investigation into Towah Group, however nothing appears to have come of it. Ekker and Petteroe remain at large.

Who Elena Anguelova Chipkovenska is I have no idea, but she’s the (Russian/Ukranian) link between Towah and Fennas Finance.

“Moderbolag” is Swedish for “parent company”. Ie. Anders Petteroe owns Fennas Finance, which means he was also behind Ichon Sachs Limited.

This is a crucial link because VIP Coin Sparkassa is responsible for selling Titus Coins to Titus Community affiliates.

VIP Coin Sparkassa has been issued 200 million Titus coins. These are to be sold to members of the Titus Community.

Or in other words, VIP Coin Sparkassa (Anders Petteroe) controls all of the money going in and out of Titus Community.

Everything else built around that is just for show.

And so now you know why, instead of appearing as a legitimate MLM company, Titus Community’s corporate structure looks and sounds more like an organized crime syndicate.

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

Continuing their pursuit of professionals who enabled the $3 billion dollar Ponzi scheme TelexFree, the SEC today announced it has banned Joseph Craft from appearing before them as an accountant. [Continue reading…]

With criminal proceedings against TelexFree’s James Merrill completed, the SEC filed for a lift on the stay that froze their civil case back in 2014.

That motion was granted on September 12th, which will see the SEC resume proceedings against TelexFree, Carlos Wanzeler, Santiago De La Rosa, Randy Crosby and Faith Sloan. [Continue reading…]

I’m not a fan of KulaBrands’ business model. I see it as crowdfunding manipulation where theoretical ROIs are emphasized over the actual viability of sponsored projects.

Typically crowdfunding backers have an interest in the project (be it a product or service). This spurs genuine demand, with enough people sharing that demand seeing the project funded.

In KulaBrands that’s still possible but polluted by a financial incentive.

To their credit, KulaBrands saw moderate growth throughout 2016 till about August this year. Alexa estimate traffic to the KulaBrands website has since gone into decline.

With the MLM business opportunity alone failing to sustain itself, KulaBrands filed a Form C Offering Statement on June 9th. [Continue reading…]

The OneCoin affiliate investor pool is currently divided into two camps.

The first group of investors are those who believe the points in their backoffice are actual money.

Since inception, all OneCoin affiliates have been able to do with their points is transfer them to other affiliates.

Under the guise of trade with third-party merchants, in reality this is how OneCoin’s DealShaker platform works.

The second group of investors realize they’ve been had but don’t have an out.

OneCoin is a shady enterprise run by individuals who spend most of their time in hiding.

OneCoin support don’t honor refund requests because they know the backoffice points are worthless.

In Italy, where OneCoin has been banned for being a pyramid scheme and fined, consumer protection organizations are working to provide Italian victims of OneCoin with a solution. [Continue reading…]

BTChamp2 appears to be a reboot of BTChamp, launched earlier this year in January.

BTChamp2 is linked directly from the BTChamp website through the referral ID: “BTCHAMP ADMIN”.

The original BTChamp was a six-tier gifting scheme run by Kasa Navakantha Rao (right).

Alexa statistics for the BTChamp website suggest the scheme went into decline around May.

With constant recruitment crucial required to sustain a gifting scheme, the decline of BTChamp has likely prompted the launch of BTChamp2.

Read on for a full review of the BTChamp2 MLM opportunity. [Continue reading…]

Priority Investment provide no specific information about who owns or runs the company on their website.

On the “About Company” section of the website, Priority Investment cites “Delta-Alpha Group Ltd” as its “management company”.

Delta-Alpha Group Ltd was incorporated in the UK on April 19th, 2017.

The London address used to incorporate Delta-Alpha Group Ltd is used by over thirty companies, suggesting it is a virtual forwarding address.

Delta-Alpha Group Ltd’s sole listed Director Arasakumar Jayaraman cites his country of residence as India, further supporting Delta-Alpha Group Ltd (and by proxy Priority Association) exists in the UK in name only.

The company appears to be wholly operated out of India.

Other than previously incorporating a few generic sounding investment companies, Jayaraman doesn’t appear to have any prior MLM executive experience.

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…]

Following an investigation into the illegal trafficking of essential oils, earlier today the FTC announced it was fining Young Living $500,000.

The company is also required to pay $135,000 in restitution and $125,000 as a “community service payment”. [Continue reading…]

The granting of Final Judgment against outstanding Zeek Rewards net-winners last month seems to have hastened settlement agreements.

Last we checked in a few hundred net-winners had settled as of May, 2017.

As per a Motion to Approve Settlement Agreements filed on August 25th, that number has since ballooned out to 1,792. [Continue reading…]

Despite representing affiliates who invested in Visalus’ “Founders Equity Incentive Plan” were accepted and qualified for two years, the company recently sough to back-pedal on its representations and agreements.

The dirty move appears to be a direct response to a round of document subpoenas, served on Visalus and a top affiliate by the Colorado Securities Division.

The securities investigation was instigated by a complaint filed by Caprece Byrd, a current Visalus affiliate.

In a separate lawsuit filed approximately two weeks later, Byrd alleges she and over a thousand other Visalus affiliates were lured by Visalus corporate into a fraudulent investment scheme. [Continue reading…]