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

A very Fivver’esque marketing video on the site claims “Joshua Wyatt” is a Marketing Director of the company. Outside of that video however, nothing turns up linking a Joshua Wyatt to XP Mining.

A residential address in Manchester, UK is provided on the XP Mining website. This corresponds with a UK Companies House incorporation for “XP Mining Limited”.

XP Mining Limited was incorporated on May 30th, 2017. Reed Grant is listed as the sole Director of the company, through another address in Manchester.

Reed Grant is the listed owner of the XP Mining website domain, but other than that there is nothing publicly tying him to the company.

In its marketing presentation, the company claims to be

a UK based company with subsidiaries under development in 3 other countries including Latin America, Europe and Asia.

Alexa estimate the current top sources of traffic to the XP Mining website are Russia (25.4%), India (9.9%) and the Ukraine (5.9%). The default language of the XP Mining website meanwhile is Portuguese.

This suggests XP Mining has no actual operations in the UK and exists there in name only.

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…]

After the collapse of the short-lived AVLX cryptocurrency, Avalon Life rebooted as a Dash mining pool operation.

Citing an increase in “the entire network-hash rate of major coins”, Avalon Life have announced a third reboot in just over a year. [Continue reading…]

Word on the grapevine is critical discussion of Lyoness in several European countries has recently disappeared.

It began with the removal of a discussion thread on Radar, one of the largest consumer information forums in the Netherlands. [Continue reading…]

The Get7Up Terms and Conditions provides James Manning of 4dollar7up Sites as “company information”.

A residential address in the US state of Alabama is also provided.

Elsewhere on the internet James Manning (right) claims to have

more than 10 years of internet marketing experience with advertising sites, downline builders, list-builders and traffic exchanges.

Earlier this year Manning launched Emerald City Ads and Highway Mails, both collapsed recruitment schemes.

In May Manning also signed up to promote the Leased Ad Space cash gifting scheme.

Read on for a full review of the Get7Up MLM opportunity. [Continue reading…]

BTC Auto Matrix provide no information on their website about who owns or runs the business.

The BTC Auto Matrix website domain (“btcautomatrix.com”) was privately registered on July 11th, 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…]

V-Tec provide no information on their website about who owns or runs the company.

The V-Tec website domain (“v-tec.bz”) was privately registered on June 8th, 2017.

V-Tec marketing material claims the CEO of the company is Martin Vogt.

Other than Vogt’s name appearing in a pop-up on the V-Tec website (not credited as CEO), there is no official confirmation Vogt has anything to do with V-Tec.

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…]

W3 Coins claim to have launched in appears to have launched in late 2016 and operate in the cryptocurrency MLM niche.

The W3 Coins website identifies Juri Vasselli as CEO of the company.

Juri Vasselli (is) a traditional stock trading specialist who is also a digital currency enthusiast turned professional expert.

According to his LinkedIn profile, Vasselli (right) is based out of Italy. Which is strange, because W3 Coins provide a corporate address in the Czech Republic.

Whether W3 Coins has any actual business operations in the Czech Republic is unclear.

A Statement of Financial Affairs dated February, 2015 reveals Vasselli was an investor in the $3 billion dollar TelexFree Ponzi scheme.

Read on for a full review of the W3 Coins MLM opportunity. [Continue reading…]

When it was announced about a month ago that OneCoin founder Ruja Ignatova would be answering questions on a live webinar, it was assumed that probably wasn’t going to happen as advertised.

Yesterday the webinar took place and featured Ignatova, CEO Pierre Arens and top earner Sebastian Greenwood. Frequently glancing at notes, the trio attempted to answer pre-screened questions. [Continue reading…]

Monspace is headquartered in Malaysia and describe themselves as

a multinational corporation with an active interest in eight primary sectors: Telecommunication, real estate, technology, finance, entertainment, aviation, hospitality and food and beverage.

Jessy Lai is cited as CEO of the company on the Monspace website.

Dato’ Sri Jessy Lai is a multi-faceted entrepreneur with a passion for making ideas a reality and helping mission-driven professionals materialise ideas, elevate performance and accelerate success.

Lai (right) was a top affiliate in Zhang Jian’s YSLM pyramid scheme. In 2014 The Star alleges Lai was caught out lying about YSLM affiliate’s demanding refunds.

Lai reportedly said YSLM had “changed her life” thanks to “big brother Zhang” who helped her gain wealth and fame.

YSLM eventually collapsed and caused an estimated $233 million dollars in losses.

Despite that, Lai was adamant that YSLM was a legal business, blaming the media for a coordinated attack against the company.

Zhang recently resurfaced in Malaysia in connection with a series of bizarre “charity dinners”.

In 2016 Jessy Lai’s Monspace Sky Airline was accused of violating several aviation regulations.

Promotional material for Monspace Sky Airline is reported to have featured Zhang.

Circulating on WeChat were also brochures promoting Monspace Sky Airline’s trip for tourists from China to Langkawi, which prominently featured Zhang holding two thumbs up.

When contacted, Lai refused to comment on the allegations made against her and her airline.

It would seem Zhang is actually behind Monspace, however to date there’s been no official confirmation.

On the regulatory front Monspace was added to the Bank of Malaysia’s list ‘of companies and websites which are neither authorised nor approved under the relevant laws and regulations administered by BNM‘.

On June 1st, 2017 the Philippine SEC issued an advisory warning of unauthorized investment activity in relation to Monspace.

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

When TelexFree offices were raided by the FBI, DHS and ICE, Joseph Craft attempted to flee the scene with a big black sports bag.

Inside the bag was a laptop and $37.9 million dollars in cashiers checks, made out to owners Carlos Wanzeler, James Merrill and their accomplices.

Craft’s served as TelexFree’s Chief Financial Officer and was instrumental in TelexFree management’s thwarted exit strategy.

The position also saw Craft paid hundreds of thousands of dollars for providing “accounting, investment and tax services”.

Between 2012 to 2014, Craft was paid approximately $613,000 in stolen TelexFree investor funds.

On April 4th, 2016, the TelexFree Trustee sued Craft and demanded he return the fraudulently received funds.

Including damages, the Trustee went after Craft and his companies Sunwind Energy Doyle North, Sunwind Energy Systems and Sunwind Energy Group, for $1.2 million dollars. [Continue reading…]