myEcon dub themselves the “personal financial success company” and are based out of Atlanta in the US.

Founded in 2005, myEcon is headed up by CEO Larry Gates.

As per Gates’ myEcon corporate bio, he has

20 years of experience in communications, marketing and business operations.

Mr. Gates also has great people skills having spent several years in the financial services industry.

Further research reveals a 2009 blog post by Michael J Smith names Ivey Stokes and Alvin Curry as the original founders of myEcon.

Alvin Curry cites himself as Owner and President of myEcon on his LinkedIn profile. Ivey Stokes cites himself as Executive Vice-President.

Curiously, neither Curry or Stokes are credited by name on the myEcon website.

myEcon, Inc. is a privately held, debt free company based in Gwinnett County, GA, a suburb of Atlanta. The company was founded by a small group of entrepreneurs in 2005.

One possible reason is prior to launching myEcon, Ivey Stokes and Alvin Curry were respectively Chairman and CEO of Maxxis Group.

Maxxis Group, an MLM company launched in 1998, filed for Chapter 7 bankruptcy in 2003.

In 2006, Curry and Stokes were listed as defendants in litigation brought by the appointed Chapter 7 trustee in Maxxis bankruptcy hearings.

Apparently, based on the court document, the trustee sued Stokes, Curry and others for breaching their fiduciary duty, for corporate waste and deepening the insolvency of Maxxis.

In other words, they didn’t act in the best interests of the company.

Larry Gates was a member of Maxxis Group’s Board of Directors and owned shares in the company.

On October 1st 2016 myEcon and Novae merged together.

As per a press-release issued on September 30th;

myEcon and Novae’s executive teams will begin efforts to blend corporate leadership.

Over the next several months, the companies will continue to take steps to integrate systems, marketing, organizations, and culture to create a huge conglomerate that will change the lives of millions across the country.

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

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

The Phoenix Trade website domain (“phoenixtrade.asia”) was registered on the 22nd of July 2016. Xie Chzhang is listed as the owner, with an address in Bejing, China also provided.

Possibly due to language barriers, I was unable to find anything further on Xie Chzhang.

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

Back in 2009 Juan Ramon Torres and Eugene Robison filed

a civil action under the Racketeer Influenced and Corrupt Organizations Act (“RICO”), alleging that Stream Energy, through its multi-level marketing program, Ignite operated a fraudulent pyramid scheme.

Rather than making meaningful profits through its sales, the Plaintiffs contend that Stream is set up like a classic pyramid scheme to make almost all of its money through the recruitment of salespeople.

When I reviewed Stream about a year ago, I found it extremely odd that affiliates were charged $375 when they signed up.

This fee appeared to be funding the compensation plan.

Over time, Stream’s market has become saturated, and the Plaintiffs
claim that they have lost money as a result of their participation in the IA program.

The Plaintiffs allege that over 86% of individuals who signed up as IAs lost money in fees, collectively losing over $87 million.

In contrast, a miniscule number of individuals have made significant sums of money.

The lawsuit has been progressing slowly over the years. In October of 2015 an attempt to certify class-representation was granted.

Stream appealed the decision in Texas’ Fifth Circuit Court of Appeals, who on September 30th upheld the District Court’s decision. [Continue reading…]

BitDonix name three company administrators on their website; OJ Jordon, Lubos Hollan and Tousif Parvez.

OJ Jordan is based in the UK, Lubos Hallan in Slovakia and Tousif Parvez in Abu Dhabi.

OJ Jordon’s YouTube channel features promotional material for My 24 Hour Income (HYIP Ponzi), Game Loot Network, OneCoin (Ponzi points), Fort Ad Pays (collapsed adcredit Ponzi), Skinny Body Care, TopShare Global (HYIP Ponzi), Coince, Venture Alliance (2% daily ROI Ponzi) and Zukul Ad Network (adcredit Ponzi).

Jordan appears to have gotten involved in the MLM underbelly about seven months ago.

Lubos Hollan was with OJ Jordon in My 24 Hour Income.

Tousif Parvez has experience in “pay to click” marketing through his Clix Union and Guru Clix opportunities.

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

Despite it being over five years since Indian police first filed a First Information Report on Speak Asia, turns out there are still dedicated officers working the case.

Two Speak Asia suspects were arrested last week, one the wife of Speak Asia CEO, Manoj Kumar Sharma. [Continue reading…]

The Housing 4 Life website identifies Joseph Gannon as owner of the company.

On his Facebook profile Gannon cites his location as Arizona in the US, which is presumably where Housing 4 Life is being operated from.

In 2013 Gannon launched Biz Builder, a feeder opportunity to build downlines in third-party MLM companies.

This was followed up in 2014 by Groceries 4 Life, a grocery coupon income opportunity.

Gannon (right) launches his companies through GannanCo Solutions International and claims they “offer solutions to meet a variety of needs”.

The launch of Housing 4 Life appears to be a continuation of that goal.

Read on for a full review of the Housing 4 Life MLM opportunity. [Continue reading…]

The Achilles’ Heel of the Lara With Me Ponzi scheme is the use of Telegram to coordinate Ponzi payments and withdrawals within the company.

As noted in our BehindMLM Lara With Me review, published back in July;

If Telegram investigate and shut down Lara With Me’s API access, the scheme instantly collapses.

Not surprisingly, that appears to have now happened. [Continue reading…]

The Ads Team website identifies three owners of the company; Muhammad Azam, Najam Ul-Hassan and Muhammad Imran.

All three owners of The Ads Team appear to be based out of the UK.

Prior to launching The Ads Team, Azam, Ul-Hassan and Imran were promoting the OneCoin Ponzi scheme.

Azam appears to have joined OneCoin earlier this year and stopped around August.

On September 29th Najam Ul-Hassan bought a new Mercedes car, crediting “network marketing” as the reason he was able to afford the purchase.

Thanks to All Mighty and Network Marketing that I was able to buy Brand New Mercedes.

The Journey from Working for someone to Becoming my own Boss has been extraordinary.

It’s going to get better as we are getting ready for the Biggest launch of my whole career. It’s going to be game changer and trend setter.

Prior to signing up as a OneCoin affiliate, Muhammad Imran was an affiliate with ACN.

Update 25th October 2016 – Muhammad Imran has been in touch and advised that, as of October 24th, he is ‘not longer belong to TheAdsTEAM any more’.

Why Imran chose to leave The Ads Team was not provided.

As at the time of this update Imran is still listed on The Ads Team’s “about us” website page and a member of the official The Ads Team Facebook group./end update

Azam, Ul-Hassan and Imran all appear to have been recruited into the same OneCoin downline earlier this year. Whether they are still affiliates with the company is unclear.

Read on for a full review of The Ads Team MLM opportunity. [Continue reading…]

A joint-stipulation filed by the SEC and Steve Chen on September 30th had asked for a delay in proceedings of four months.

Judge Klausner has rejected the rescheduling and preserved the original January 10th trial date. [Continue reading…]

In what shouldn’t come as a surprise to anyone, the SEC have revealed, contrary to Charles Scoville’s representations, that Traffic Monsoon cannot repay its investors. [Continue reading…]