Following a hearing held on December 21st, the TelexFree victim claim deadline has been extended until March 15th, 2017. [Continue reading…]

Austria’s White Collar Crimes and Corruption” Public Prosecutor’s Office (WKSTA) has a long history with Lyoness.

WKSTA has been trying to hold Lyoness and founder Hubert Freidl criminally accountable for years.

Unfortunately for the regulator, legal decisions have thus far gone against them.

Rather than resign themselves to a new era of legalized Ponzi fraud in Austria however, WKSTA continues to try to stop the Lyoness Ponzi scheme.

The latest move by the regulator is a new criminal lawsuit filed yesterday. [Continue reading…]

Marketing material for Ad Pack Pro suggests the company launched in mid 2015. The Ad Pack Pro website domain however (“adpackpro-international.com”), was only registered earlier this year in March.

A corporate address in Switzerland is provided on the Ad Pack Pro website. Further research reveals a number of businesses using the same address, suggesting it is rented virtual office space.

Peter Müller (right) is cited as CEO of Ad Pack Pro, which itself is owned by parent company OneVision Holding.

Many creative and intelligend [sic] people with a common vision – that is the OneVision Holding AG.

The basic idea of the founders to combine the Know-How of several experts from different sectors, as well as their networks, to create a [sic] innovative Online Company, arose in May, 2015.

Possibly due to language-barriers, I was unable to put together an MLM history on Peter Müller.

Infact outside of Ad Pack Pro, there doesn’t appear to be any information on Peter Müller online. This could again be due to language-barriers but I’m flagging it as suspicious nonetheless.

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

Engofor initially launched as “Cryptocoins Invest” back in June.

The company hosting the Cryptocoins Invest website appears to have since terminated the site with it today showing an “account suspended” message.

Rather than acknowledge this, those running Cryptocoins Invest have trotted out a sob story involving hackers:

To our dismay we realized that the hackers have caused more damage to the CCI network than we initially thought.

They succeeded to manipulate the system that there are now quite a number of accounts at another final balance than expected.

This, both positively and negatively. It has proved impossible to recover the data.

How much money has so far been lost is unclear. A relaunch as Engofor was announced last month which, as I understand it, is pretty much the same business model.

A corporate address in the Netherlands is provided on the Engofor website. No information about who owns or runs the company is provided.

Further research reveals Diego van der Veen (owner), Wendy van Dijk and David Vink as co-CEOs of the company.

These do appear to be actual people, however due to language-barriers I was unable to put together an MLM history on any of them.

Update 28th December 2016 – The Engofor website now credits Diego van der Veen as “Founding Director” of the company. Wendy van Dijk is credited as “Financial Support”.

Generic corporate bios for both on the Engofor website don’t actually reveal anything about their MLM history. /end update

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

Wealth Generators launched in 2013 and are based out of Utah in the US.

The company operates in the financial services MLM niche, with a specific focus on stock market trading.

Recently the Wealth Generators has caught the attention of Colombia’s Superintendencia Financiera regulatory body, who claim it’s a pyramid scheme. [Continue reading…]

Karatbars International are one of the pioneers of the gold recruitment MLM business model.

Under the guise of purchasing gold, Karatbars’ business model sees affiliates pay a fee and are then paid to recruit others who pay a fee.

In 2014 Canadian regulator Autorité des marchés financiers (AMF) issued a warning against Karatbars.

The warning was reinforced with legal action, which has been playing out over these past two years. [Continue reading…]

Following a scathing summary judgement decision that saw USFIA labelled a Ponzi scheme and Steve Chen the scammer who operated it, the SEC’s case against USFIA seemed all but over.

Despite effectively losing the case, Steve Chen is still fighting it out to the bitter end. [Continue reading…]

My Advertising Pays was initially launched in 2013 by Mike Deese.

The premise was simple enough, invest $50 and receive a $55 ROI. Wash, rinse and repeat.

Unfortunately the only verifiable source of revenue entering My Advertising Pays was affiliate investment, making it a Ponzi scheme.

My Advertising Pays first collapsed in mid 2015. In an effort to keep the scam going, US investor ROIs were cancelled and Deese (right) relaunched in Europe.

That lasted about a year, with My Advertising Pays again collapsing in mid 2016.

Another reboot was announced last month, however that appears to have already been scrapped.

A consistent theme with My Advertising Pays’ relaunched is the fact that most affiliates aren’t paid. This doesn’t seem to affect the top investors, who regularly boast about luxury purchases on social media:

Mike Deese himself seems to be flush with cash, as evidenced by the purchase of a $600,000 home in Mississippi earlier this year:

Affiliates meanwhile are told My Advertising Pays can’t pay them because VX Gateway, their former payment processor, ran off with $60 million in invested funds.

A lawsuit has been filed to that effect and is still playing out in court.

Now under the name “The Advert Platform”, My Advertising Pays is gearing up to relaunch for a third time. [Continue reading…]

There is no information on the Internet Business Suite website indicating who owns or runs the business.

The Internet Business Suite website domain (“internetbusinesssuite.com”) was registered on the 2nd of January, 2016. Dustin Langley is listed as the owner, with an address in the US state of Tennessee also provided.

This matches up with Langley’s Twitter profile, which is linked off the Internet Business Suite website.

Dustin Langley (right) first appeared on BehindMLM’s radar as a possible admin of Residual Daily Profits, a recruitment driven matrix pyramid scheme launched mid 2012.

Residual Daily Profits appears to have morphed into WahVision, a Ponzi scheme launched that same year.

In 2014 Langley resurfaced with Banner Ads Daily, a 125% ROI Ponzi scheme.

Banner Ads Daily lasted less than a month before it collapsed.

Langley appears to have been running MLM underbelly scams since at least 2010 (10K 4 Christmas).

In addition to Residual Daily Profits, here’s a list of MLM underbelly schemes Dustin Langley has launched since then:

• Global Venture Club (chain-recruitment, 2011)
• Residual 500 (chain-recruitment, 2011)
• Long Term Residuals (subscription based cycler, 2012)
• AdProjectX (135% ROI Ponzi scheme, 2013)
• Fast Residuals (cycler recruitment, 2013)
• Earn Revolution (matrix-based pyramid scheme, 2014)

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

Another day, another European regulator warns about OneCoin without actually doing anything about it.

The latest regulatory warning against OneCoin is another from the Central Bank of Hungary.

An advisory on the risk of cryptocurrencies dated December 20th singles out OneCoin as a pyramid scheme. [Continue reading…]