FINMA are an “independent supervisory authority” that regulate Switzerland’s financial markets.

As per FINMA’s website, the regulator’s

mandate is to supervise banks, insurance companies, exchanges, securities dealers, collective investment schemes, and their asset managers and fund management companies.

It also regulates distributors and insurance intermediaries. It is charged with protecting creditors, investors and policyholders.

FINMA is responsible for ensuring that Switzerland’s financial markets function effectively.

On the 30th of September 2016, FINMA added SwissCoin to their warning list. [Continue reading…]

With arrests in Belarus and authorities investigating in Turkey, Lithuania, Hungary, Slovakia and Estonia, Kairos Technologies is having a hard time keeping its banking channels open.

A few days ago the company announced plans to set up a new shell company to continue scamming people through.

Since last November Kairos Technologies has been using ESA Holding GMBH, an Austrian shell company, to pay affiliates with.

Austrian authorities have now caught on and a warning has been issued to the general public. [Continue reading…]

Bit2Fund launched in early December and name Binay Sinha as owner of the company.

Sinha claims to be ‘an online entreprenuer [sic] living in India‘.

Sinha (right) appears to own the “sana khan” Bit2Fund admin account, which new referrals are defaulted under if they try to sign up without a Bit2Fund affiliate link.

The Bit2Fund website domain (“bit2fund.org”) was registered on the 9th of December, 2016. Bhaskar Sinha is listed as the owner, with an address in Assam, India also provided.

Sinha is also the sole admin of the official Bit2Fund Facebook group, where he also goes by Binay Sinha.

In addition to running Bit2Fund, Sinha is also an affiliate of My Paying Ads and My Paying Crypto Ads Ponzi schemes.

Read on for a full review of the Bit2Fund MLM opportunity. [Continue reading…]

The My BTC Life website identifies Lubos Hollan and Tousif Parvez as admins of the company.

Hollan is based out of Slovakia and claims ‘the only way to earn some money online is to learn how to recruit and promote‘.

Parvez is based out of Abu Dhabi and is credited as the designer and main admin of My BTC Life.

Both Hollan and Parvez first appeared on BehindMLM’s radar as co-admins of BitDonix.

BitDonix launched in October with a bitcoin-based cash gifting business model. Hollan and Parvez are still credited as admins of the scam on the BitDonix website.

Prior to BitDonix Hollan was an affiliate of the collapsed My 24 Hour Income Ponzi scheme. Tousif Parvez has experience in “pay to click” marketing through his Clix Union and Guru Clix opportunities.

Why Hollan and Parvez have launched a second opportunity only a few months after launching BitDonix is unclear.

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

As far as I can tell, LCF Coin or whoever is behind it doesn’t have an official web presence.

Those promoting LCF Coin are doing so via Google forms. What happens to the information entered into these forms is unclear.

The marketing narrative for LCF Coin is that the Rothschild Family and Chinese government are teaming up to launch a cryptocurrency.

That’s pretty much all they’re going with, apart from an official launch purportedly taking place in February, 2017. [Continue reading…]

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

Infact at the time of publication, the MacroCoin website is nothing more than an affiliate login form.

The MacroCoin website domain (“macrocoin.info”) was registered with bogus (incomplete) details on August 26th, 2016.

The official MacroCoin compensation plan documentation features the logo of an entity named “UECB Group”.

UECB Group have their own page on the MacroCoin website (not linked from the homepage).

UECB Group brings years of experience in financial and private sectors worldwide. With branches and dedicated teams all over the world we combine what’s best in each market into one global solution.

We provide an all-in-one solution that merges blockchain technologies with traditional payment networks in a new digital assets ecosystem.

UECB appear to be behind MacroCoin and are headed up by Simon Karakaš (CEO) and Rok Potočnik (“Senior Executive”).

Simon Karakaš (right) was involved in ByXpress, who created the MCoin cryptocurrency.

MCoin was a worthless altcoin cryptocurrency ByXpress mined through Coins Race. The company launched in 2015 and had crashed by early 2016.

In a ByXpress marketing video dated November 2015, Karakaš introduces himself as the “Cryptocurrency Officer of Coins Race”.

Karakaš is based out of Hong Kong, which is likely where MacroCoins is being operated from.

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

Over the last few months David Manning has struggled to keep his company together.

The narrative Manning is fighting is that top leaders have left Paycation en masse for Global Platinum Services.

Affiliates under these leaders have also jumped ship, prompting a flurry of Global Platinum Services marketing videos capitalizing on click-bait to market the opportunity.

Before we go any further though, let’s take a look at the two companies in question. [Continue reading…]

No matter how many times it’s denied, the fundamental truth behind MLM underbelly schemes is that you can’t pay out more than is paid in.

Here at BehindMLM we routinely review the latest offerings from the MLM underbelly. When one of our reviews points out the obvious, often this doesn’t go down well with a company owner.

One of the more recent examples of this taking place was Pearse Donnelly’s reaction to BehindMLM’s Traffic Powerline review. [Continue reading…]

Zivizi operate in the health and nutrition niche and are based out of Utah in the US.

Heading up the company is Steve Francisco, who serves as Zivizi’s CEO.

Zivizi itself is owned by Miyu Holdings, a Utah company founded by Ike Hong in 2014. Miyu Holdings is made up of a number of companies, spanning mobile messaging, cash back shopping, health, advertising, online travel and “digital business training”.

The earliest I was able to find on Steve Francisco’s involvement in the MLM industry dates back to 2005. According to an SEC filing, Francisco had an exclusive “royalty agreement” with Lexxus International.

I did find a marketing video from 2010 in which Francisco claims to have a 25 year history in MLM, but couldn’t find anything earlier than 2005.

That same year Lexxus International changed its name to NHT Global. NHT Global operates in the personal care and health MLM niche and is still in business today.

Francisco’s next MLM stint was a “Master Associate” with Talk Fusion. Talk Fusion was founded in 2007, although I wasn’t able to confirm if Francisco was involved from launch.

Fransisco left Talk Fusion in 2009. In late 2010 Francisco reemerged as the President of Renua Medical.

Renua Medical sell medical equipment, cookie meals and health and nutritional supplements. Renua Medical still appear to be in business but I couldn’t find anything about an MLM opportunity on their website.

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

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

The CoolFund website domain (“coolfund.io”) was privately registered on November 15th, 2016.

A marketing video on the CoolFund website is hosted on a YouTube account bearing the name “Ronald Cruz”. The account has no other content and appears to have been recently created to promote CoolFund.

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…]