Following the Central Bank of Malaysia adding MBI International to their national alert list earlier this month, over the last few days police have conducted raids and seized millions of dollars. [Continue reading…]

As per a report from the Korea JoongAng Daily, authorities in Korea have launched a police investigation into OneCoin. [Continue reading…]

Global Bitmax provide no information on their website about who owns or runs the company.

The Global Bitmax website domain (“globalbitmax.com”) was privately registered on March 3rd, 2017.

Further research reveals Global Bitmax affiliates naming Mauro Mangibin as owner of the company.

Mangibin (right) confirms this on his Facebook profile, as per a May 22nd post advertising Global Bitmax;

My First Ever Matrix/Cycler Is in Pre Launch.

We tested it, and Positive Result comes out.

Two of my Facebook friends already earned $200 each in couple of hours. Trust me this is Moving Very Fast.

Mangibin is based out of Marseille, France and has recently been promoting Platinum World Team Build (Ponzi cycler), 2×2 Club (bitcoin gifting), GladiaCoin (bitcoin Ponzi) and Bitcoin Builder (bitcoin gifting).

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

Avalon Life launched just under a year ago as an altcoin MLM opportunity.

Based on the non-publicly tradeable AVLX altcoin, Avalon Life affiliates invested in the hope of flipping the altcoin for a profit. Pyramid recruitment was also evident, with Avalon Life affiliates paid directly and residually to recruit new affiliates.

AVLX collapsed and was abandoned about a month after launch. A few months later Avalon Life relaunched itself as a Dashcoin mining opportunity.

Today we take a look at and review Avalon Life’s current business model and compensation plan. [Continue reading…]

Belize, a tax haven in central America, isn’t really known for regulation. It’s seen more of an “anything goes” type jurisdiction.

Nevertheless, the International Financial Services Commissions serves as the country’s top financial regulator.

Charged with ‘providing appropriate supervision and regulation of international financial services‘ within Belize, earlier today the IFSC issued a cease and desist to OneCoin. [Continue reading…]

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

Three contact points are provided on the IoniCoin website, Bulgaria, Germany and the UK, however only email addresses and phone numbers are provided.

The IoniCoin website domain (“ionicoin.com”) was registered on April 8th, 2017. “Amsters Clark” is listed as the owner, with an address in Birmingham, UK also provided.

Further research reveals this address actually belongs to Mailboxes ETC, who provide virtual office mailing addresses. As such it appears IoniCoin exists in the UK in name only.

Somewhat curiously, IoniCoin claim to be a “registered investment bank”.

Ionicoin Digital Currency LTD is an investment bank registered with the number: 10718847 which was incorporated on 10 April 2017.

Ionicoin Digital Currency LTD has sic code: 64110 – Central banking.

The above information is correct, in that IoniCoin Digital Currency LTD was incorporated in the UK on April 10th. However the designated business categories of “Central banking” and “Banks” doesn’t mean IoniCoin is a registered investment bank in the UK.

That would require registration with the Financial Conduct Authority.

Not surprisingly, IoniCoin Digital Currency LTD is not registered with the FCA.

Amsters Clark is listed as the sole Director of IoniCoin Digital Currency LTD, via the same virtual mail address in Birmingham.

No information about Amsters Clark is available outside of his appearance on the company’s incorporation documents. This strongly suggests Amsters Clark, as represented by IoniCoin, doesn’t exist.

The IoniCoin website is hosted in Romania, which neighbors Bulgaria to the south. If I had to take a guess, I’d say whoever is running IoniCoin is likely based out of one 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…]

So the saying goes, a leopard can’t change its spots.

So it is true with many inhabitants of the MLM underbelly, with those seeking to steal money time and time again launching variations of the same scheme.

With those running it harboring strong ties to Crypto888 Club, it should come as no surprise Power On Network is now gearing up for its third relaunch within a year. [Continue reading…]

iCoinPro operate in the cryptocurrency MLM niche and, according to its affiliate policies and procedures, is based out of Texas in the US.

The State of Texas is the place of the origin of this Contract and is where the Company accepted the offer of the Applicant to become a Distributor and where the Distributor entered into the Contract with the Company.

Heading up iCoinPro is Founder and CEO, Paul De Sousa (right).

Known for his dedicated leadership and training abilities to help others in the network marketing industry, along with his vast knowledge, understanding, and experience utilizing Bitcoin and Cryptocurrencies in various capacities, nobody has more passion and enthusiasm for iCoinPro than our CEO, Paul De Sousa.

According to De Sousa’s Facebook profile, he is based out of Johannesburg, South Africa. iCoinPro’s connection to Texas is thus unclear.

De Sousa has a long marketing history, with this crossing over into providing leads for various MLM opportunities.

Since at least mid 2016, De Sousa has been promoting Gain Bitcoin. BehindMLM reviewed Gain Bitcoin earlier this month and concluded it was a combination of pyramid recruitment and suspected Ponzi fraud.

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

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

A footer on the Royaltie website identifies its parent company as Hiram Lodge Enterprises Corp.

The Royaltie affiliate agreement suggests Royaltie and Hiram Lodge Enterprises Corp are based out of Ontario, Canada:

This Agreement shall be governed by and construed in accordance with the laws of the Province of Ontario and shall be treated in all respects as an Ontario contract.

Each of the parties irrevocably attorns to the jurisdiction of the courts of the Province of Ontario.

Further research reveals marketing videos on Royaltie’s official YouTube channel identifying Justin Belobaba as founder and CEO of the company.

As per a press-release announcing Royaltie’s initial launch in July 2016, Belobaba is cited as

a serial entrepreneur in health, finance and technology. His past ventures include wireless payment software for North American taxicabs, and a publicly-traded provider of electronic medical record software for physicians.

In 2010, he was named “Young Entrepreneur of the Year” by Profit Magazine.

As far as I can tell, Royaltie is Belobaba’s first MLM venture.

Worth noting is Royaltie first launched with a “mobile app rewards program”.

The Royaltie program, which provides its users 10% rewards on all their health, fitness and beauty purchases, breaks the mold of traditional rewards programs by being the first to offer a customer-centric, rather than a business-centric, approach to earning rewards.

This appears to have been scrapped and replaced with the current “gem” product in early 2017.

Royaltie also has an “exclusive network marketing contract” with Asirvia.

Asirvia initially launched with a mobile app subscription service, with was recently scrapped in favor of reselling Royaltie’s gem product.

In a marketing video published on the official Asirvia Facebook page on May 25th, Belobaba stated Royaltie ‘couldn’t be more excited about our strategic partnership with Asirvia‘.

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

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

The CryptoFundz website domain (“crypofundz.com”) was registered on May 15th, 2017. “Ann E Coleman” is listed as the owner, with a residential address in the US state of North Carolina also provided.

There is no third-party information connecting Coleman with CryptoFundz.

The official CryptoFundz Facebook group has one admin, Atif Sohail (right).

Sohail cites his location as Dubai in the UAE and is/has been involved in MMM India (gifting Ponzi), Worldwide Earning (adcredit Ponzi), Coin Leaders (Ponzi points) and The Ads Team (adcredit Ponzi).

Sohail appears to be running CryptoFundz, with Ann Coleman, as represented in the CryptoFundz domain registration, unlikely to exist.

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…]