AlpCoin Review: Ponzi points subscription packages
AlpCoin provide no information about who owns or runs the business on their website.
The company claims to be ‘a business group located in UAE with representation offices in various countries‘.
The AlpCoin website domain (“alpcoin.com”) was registered on August 30th, 2016. Patrick Ruegsegger is listed as the owner, with an address in Basel, Switzerland also provided.
Further research reveals the address belongs to WorldWideLinks, who describe themselves as ‘a global working procurement and consulting company with a trading platform.‘
German appears to be the language of choice for AlpCoin. The AlpCoin website itself is hosted in Germany and German is also the first selectable language.
AlpCoin features on the WorldWideLinks website, however whether there is any common ownership is unknown.
An AlpCoin marketing video cites Ruegsegger as CEO of the company:
In the video, Ruegsegger claims to be based out of Dubai and have a history in finance and IT.
Prior to launching AlpCoin in 2016, Ruegsegger was a Dubli affiliate.
Why none of this information is provided on the AlpCoin website 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…]
Daniel Filho intends to plead insanity (DFRF Enterprises)
For the past couple of month, practically anything of interest in Daniel Filho’s criminal trial has been filed under seal.
Filho founded and ran the DFRF Enterprises Ponzi scheme. He was arrested back in July, 2015 but has yet to stand trial.
The only information I’ve been able to glean thus far is that Filho is apparently suffering from mental health issues. This lead to him being declared legally incompetent last month.
A new filing on May 3rd now reveals Filho intends to plead insanity. [Continue reading…]
PayPal sued for facilitating Traffic Monsoon Ponzi fraud
Known throughout the MLM underbelly for it’s prohibition of Ponzi and pyramid schemes, PayPal nonetheless still pops up as a payment processor for various schemes.
The problem with PayPal’s current fraud detection mechanisms is that, by the time it’s detected, the damage has already been done or PayPal quietly freeze the account.
No information is communicated to victims of the scheme and often the fate of the seized funds remains a mystery.
When PayPal froze Traffic Monsoon’s investor fund account in January, 2016, approximately $61 million of invested funds were frozen.
Despite appearing to freeze the account on suspicion of fraud, PayPal continued to allow affiliate investment transfers into the account for another 30 days.
PayPal purportedly represented to Traffic Monsoon’s owner, Charles Scoville, that the freeze would remain in place until August, 2016.
Scoville promptly reassured Traffic Monsoon affiliates that nothing was amiss and to sit tight and wait it out.
As revealed by the SEC, PayPal prematurely released the funds on July 11th.
Scoville quietly began withdrawing $26.1 million dollars into private bank accounts he controlled. PayPal were fully aware of these transactions and despite earlier suspicions of fraud, had no problems authorizing them.
Two Canadian Traffic Monsoon investors have taken a stand, and through a class-action lawsuit now seek to hold PayPal accountable. [Continue reading…]
Xango acquired by Zija International
On May 6th, Xango announced it had been acquired by Zija International.
Xango market mangosteen juice and Zija a range of moringa-based supplements.
As per a press-release issued on the Xango website; [Continue reading…]
German Public Prosecutors investigating OneCoin reps for fraud
In the aftermath of BaFin’s regulatory ban of OneCoin on April 28th, promotion of OneCoin in Germany has come to a screeching halt.
Yesterday, top German affiliate Udo Deppisch was forced to cancel two OneCoin events in Germany that had been organized prior to the ban:
Not content with having thwarted the scheme locally, now the Bielefeld Public Prosecutors Office has confirmed an ongoing fraud investigation. [Continue reading…]
Hungarian authorities put together massive OneCoin taskforce
The bad news for OneCoin continues, with the Hungarian Central Bank today announcing a joint investigation with various police departments and tax authorities. [Continue reading…]
Touchstone Essentials Review: Commitment to untainted supplements
Touchstone Essentials launched in 2012 and operate in the nutritional supplement MLM niche.
The company is based out of North Carolina in the US and headed up by Founder and CEO, Norwood “Eddie” Stone.
In his Touchstone Essentials corporate bio, Stone claims to have ‘two decades marketing and making nutritional supplements‘ experience.
Stone (right) co-founded Waiora, who also market a range of nutritional supplements. Prior to co-founding Waiora, Stone was an affiliate in Nu Skin and then Rexall Showcase International (Unicity International).
As early as 2010, Waiora was made aware that their NCD supplement contained significantly less than the advertised amount of zeolite.
The fallout of this discovery eventually led to a class-action lawsuit filed in early 2012 (the same year Stone left Waiora to launch Touchstone Essentials).
Waiora settled the lawsuit for $12 million dollars in 2013.
In his Touchstone Essentials corporate bio, Stone claims he
couldn’t help but notice that many of the same problems found in Big Food—pesticides, ultra-processed ingredients and toxic additives—were also found in most “health” supplements.
In fact, most supplements are anything but healthy.
I knew that needed to change. Your family, my family, all families deserve better.
Read on for a full review of the Touchstone Essentials MLM opportunity. [Continue reading…]
Another $3.7 million in OneCoin funds seized in India
With the glitz of the Global Macau event come and gone, it’s back to reality for OneCoin affiliates.
As authorities in India continue to investigate the scam, the latest development is another Rs. 240 million ($3.7 million USD) has been seized. [Continue reading…]
Controversy dogs OneCoin’s blockchain whitepaper
The problem with OneCoin affiliates getting excited about their blockchain whitepaper reveal earlier today, is it suggests that OneCoin are only now using a blockchain.
Despite evidence to the contrary, OneCoin has maintained its Ponzi points have operated as a legitimate cryptocurrency since day one.
At a training event earlier today it OneCoin’s whitepaper was revealed… sort of. [Continue reading…]
Gold Rush Cash Review: $100 in, $5700 out 2×2 matrix Ponzi cycler
Gold Rush Cash provide no information on their website about who owns or runs the business.
The Gold Rush Cash website domain (“goldrushcash.net”) was privately registered on April 5th, 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…]
