Vemma settles for $238 million, agrees to stop pyramid scheme
News of a potential settlement between the FTC and Vemma first surfaced back in September.
The FTC were willing to take the case to trial but Vemma and defendants BK Boreyko and Tom Alkazin wanted to settle.
Last month the FTC requested additional time to go over the proposed settlement, with a unanimous 3-0 decision reached yesterday. [Continue reading…]
Jeremy Rush threatens to sue Zukul Facebook critics
The latest Zukul webinar aired earlier today. In it, owner Jeremy Rush addresses what he refers to as a number a number of issues.
Perhaps the most interesting of which is criticism on Facebook, which Rush claims he’s ready to sue over. [Continue reading…]
E-Cooperative Review: Two-tier matrix cash gifting
There is no information on the E-Cooperative website indicating who owns or runs the business.
The E-Cooperative website domain (“ecooperative.online”) was registered on October 25th, 2016. Christian Jombo of HeptaPixels INC is listed as the owner, with an address in Calabar, Nigeria also provided.
HeptaPixels appear to be a web hosting company based out of Nigeria. Christian Jombo is cited as the company’s CEO.
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…]
Cool Naira Review: Pyramid scheme targets Nigerian recession
The Cool Naira website identifies Paul Samson as founder of the company.
Samson purportedly founded Cool Naira through the company G-Cyber Technologies back in March.
Samson (right) claims G-Cyber Technologies is incorporated in Nigeria, however I was unable to independently verify this (the Corporate Affairs Commission search website was down at the time of publication).
G-Cyber Technologies’ own Facebook page suggests the company is a web hosting reseller.
Cool Naira appears to be Samson’s first MLM venture.
Read on for a full review of the Cool Naira MLM opportunity. [Continue reading…]
Carlos Costa facing jail time for $1.3 million dollars in tax fraud
Tax authorities in Brazil aren’t done investigating TelexFree, with the latest seeing Carlos Costa sued for $1.3 million dollars in tax fraud. [Continue reading…]
Final judgement granted against all Zeek top net-winners
Following Final Judgement granted against three of Zeek Rewards’ top thieves, the same has now been granted against all named net-winners in the Receiver’s clawback lawsuit. [Continue reading…]
Bit Cycler Review: Three queue cycler Ponzi positions
There is no information on the Bit Cycler website indicating who owns or runs the business. Infact, at the time of publication the site is nothing more than a login page.
The Bit Cycler website domain (“bitcycler.com”) was registered on the 6th of October, 2016. Francisco Gomez of 3fera is listed as the owner.
3fera appears to be web design and marketing company based out of Spain.
The official Bit Cycler Facebook group lists three admins; Tonatiuh Cordero, Antonio Solis and Armando Castillo.
Presumably one, two or all three of these individuals are running Bit Cycler. I wasn’t able to conclusively verify who.
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…]
FusionBit Review: Oldschool ebook library pyramid scheme
There is no information on the FusionBit website indicating who owns or runs the business.
The FusionBit website domain (“fusionbit.club”) was privately registered on November 30th, 2016.
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…]
MMM Nigeria suspends payouts for the rest of December
The disaster that is the Nigerian MLM underbelly scene continues, with news today MMM Nigeria has suspended withdrawals.
Yes, you’re reading that right. The same week Sergey Mavrodi purportedly goaded the Nigerian government about an MMM Nigeria collapse, it appears MMM Nigeria has… well, collapsed. [Continue reading…]
Matrix Madness Review: Two-tier matrix based cash gifting
There is no information on the Matrix Madness website indicating who owns or runs the business.
The Matrix Madness website domain (“matrixmadness.biz”) was privately registered on November 14th, 2016.
A link to a YouTube marketing video on the Matrix Madness website is hosted on an account belonging to LaCrisha Wallace.
Wallace (right) is also an admin in a Facebook group named “Pre Launch Madness”, linked directly from the Matrix Madness website.
Other MLM opportunities promoted on Wallace’s YouTube channel include Residual Income in a Box and Virtual County Fair.
As per her Facebook profile, Wallace appears to commit herself to various MLM underbelly “programs” each month:
My December programs will be Matrix Madness, CyclerKing and Reverse Profits!! Whose excited??
I am!! Expected income for the month of December?? $50,000!!!
Read on for a full review of the Matrix Madness MLM opportunity. [Continue reading…]
