There is no information on the 2×9 BitMax website indicating who owns or runs the business.

The 2×9 BitMax website domain (“2x9bitmax.com”) was privately registered on January 10th, 2017.

The official 2×9 BitMax Facebook group lists five admins; Kamran Baig, Atolagbe Dorlee, Steve John, Martin Germer and Faye Brown.

The generic-sounding Steve John is the listed referral if one visits the 2×9 BitMax website without an affiliate referral link. This suggests he is running the show.

Unfortunately Steve John doesn’t appear to exist. The Steve John Facebook profile was created in December, 2016 and hosts no content.

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…]

There is no information on the Star Crypto Mine website indicating who owns or runs the business.

The company does however claim to be a

sister concern [sic] company of Perenco. Perenco, a Leading Independent Exploration and Production Company for Oil and Gus [sic].

Perenco is a legitimate oil and gas exploration company founded in 1975. Other than Star Crypto Mine copying the Perenco website (both in design and content), there is no verifiable information suggesting Perenco and Star Crypto Mine are related in any way.

The Star Crypto Mine website domain (“starcryptomine.com”) was privately registered on October 21st, 2016.

At the time of publication Alexa estimate that India is the largest source of traffic for the Star Crypto Mine website. This suggests that whoever is running Star Crypto Mine is likely also based out of India itself.

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…]

There is no information on the IGOFX website indicating who owns or runs the business.

The IGOFX website domain (“igofx.com”) was first registered on August 13th, 2012.

The domain registration were last updated on February 16th, 2017. The IGOFX domain registration is set to private, providing no information on who owns it.

Under the company name “IGO Global Limited”, IGOFX have registered themselves as a “dealer in securities” in Vanuatu.

That IGOFX have used a shell company to register with the Vanuatu Financial Services Commission is highly suspicious.

Alexa currently estimate that Malaysia is the largest source of traffic to the IGOFX domain (55%). China is the second largest source of traffic coming in at 19%.

It is highly likely that whoever is running IGOFX is based out of Malaysia.

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 iPro Network website provides no information about where the company is based out of. It does however name Armando Contreras as iPro Network’s CEO.

Curiously, the iPro Network website claims Contreras (right) has owned ‘multinational businesses in various industries Travel, Insurance, IT, and Live Event Conference‘. He also purportedly ‘over 15 years experience in direct sales industry‘.

Yet I couldn’t find anything about Contreras non-MLM or MLM businesses. That’s pretty strange for “over 15 years” of network marketing experience.

I’m not saying Contreras’ corporate bio is completely made up, but the lack of verifiable third-party information (or even a professional footprint) is highly suspicious.

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

The Nigerian Deposit Insurance Corporation has revealed that an estimated three million Nigerians lost over $57 million USD in the MMM Nigeria collapse.

Speaking at an International Trade Fair on Thursday, Hadi Suleiman, NDIC’s Deputy Director of Corporate Affairs [Continue reading…]

There is no information on the 2by3 Matrix Club website indicating who owns or runs the business.

The 2by3 Matrix Club website domain (“2by3matrix.club”) was privately registered on February 17th, 2017.

A 2×2 Matrix Club that appears to have used the same backend was launched earlier this month. 2by3 Matrix Club appears to be run by the same admin(s).

Alexa statistics for the 2by2 Matrix Club website suggest the launch was a flop. This likely promoted the launch of 2by3 Matrix Club.

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…]

There is no information on the Infinity BTC website indicating who owns or runs the business.

The Infinity BTC website domain (“infinitybtc.com”) was registered on January 6th, 2017. Jairo Enrique Cruz Feria of “Webzone Colombia” is listed as the owner, with an address in Satandar, Colombia also provided.

Webzone Colombia appears to be Colombian web design company. The Infinity BTC website uses Webzone Colombia’s name-servers, however whether Feria owns Infinity BTC or is just working for whoever does is unclear.

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 one person who might have led authorities to Manoj Kumar’s stashed Ponzi funds, has been granted bail.

Renu Sharma, wife of Manoj, was arrested by authorities last October. In January the EOW filed a chargesheet against Renu, accusing her of laundering over a hundred million USD.

Renu was a signatory and Director of Tulsiyat Tek Pvt Ltd, Tulsient Information Systems Pvt Ltd and Seven Rings Education Pvt Ltd, all of which were used to launder Speak Asia investor funds.

The EOW alleged that since 2003 the group along with another accused, Ramnivas Pal, and others were involved in floating different fraudulent schemes in Mumbai.

The agency said that the directors would receive money from investors, keep it in Tulsiyat’s bank account and later transfer it to SpeakAsia’s Singapore account.

The EOW claimed Renu was the authorized signatory and Rs 710 crore ($106,454,773 USD) was laundered from India to Singapore from a company in which she was a director.

In what is probably the second biggest facepalm ruling from Indian courts in the Speak Asia case, Renu Sharma was granted bail because she was working as a full-time teacher. [Continue reading…]

Engofor began life as Cryptocoins Invest back in June last year.

Citing an attack by “hackers”, CryptoCoins Invest collapsed and was relaunched as Engofor in December.

On February 16th Engofor suspended affiliate withdrawals. Now it has been revealed the company is under investigation by the Netherlands Authority for the Financial Markets. [Continue reading…]

Relationships between scammers are fickle at best. Throw in a bit of Ponzi greed, potentially millions of dollars and a list of people who’ve bought into math-breaking ROI lie, and all bets are off.

As a result of the SEC lawsuit against Traffic Monsoon last year, owner Charles Scoville had his assets frozen. Rather than get an honest job to support himself in the meantime, Scoville sought out donations to fund his legal defense. [Continue reading…]