Trudy Gilmond’s theft of over $2 million dollars from Zeek Rewards victims saw the SEC file legal action against her in 2015.

The case progressed throughout 2015 and in early 2016 Judge Mullen scheduled a trial for September, 2017.

Not much has happened since then, prompting the SEC to file for a suspension of the current trial schedule. [Continue reading…]

Following the arrest of eighteen OneCoin affiliates in Mumbai, India last weekend, a Judicial Magistrate remanded the accused to judicial custody.

As I understand this limits police access to the accused, Mumbai police filed a petition to have the scammers remitted to police custody. [Continue reading…]

Last year the mystery of why OneCoin were using stock video footage to represent their blockchain was solved.

OneCoin had no blockchain and were simply recording script-generated Ponzi points allocation on a SQL database.

The revelation was made public following a OneCoin blockchain development job offer to Bjorn Bjercke.

Bjercke is a professional blockchain developer and, not happy someone with someone with actual technical experience going around countering their own technology claims, OneCoin have now threatened Bjercke with legal action. [Continue reading…]

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

The BitConnect website domain (“bitconnect.co”) was privately registered on February 9th, 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…]

Back in January the Zeek Rewards Receiver filed for summary judgment against Canadian net-winners.

Beverly Dawn Trca-Kitchen was one such net-winner, with the Receiver alleging she stole $314,228 from victims of the scheme. This figure was arrived at after forensic accounting was conducted on the Zeek Rewards backend.

Trca-Kitchen however paints a different picture. [Continue reading…]

VIP Turbo Cycler provide no information on their website about who owns or runs the business.

The VIP Turbo Cycler website domain (“vipturbocycler.com”) was privately registered on April 6th, 2017.

At the time of publication, the VIP Turbo Cycler is little more than an affiliate signup page.

Further research reveals VIP Turbo Cycler material appearing on a YouTube channel bearing the name “The VIP Team”.

As per our review published in 2015, The VIP Team is a downline feeder run by Lieven VanNeste (right).

At the time The VIP Team was feeding affiliates into VanNeste’s Exitus Network downline.

In addition to The VIP Team, VanNeste also launched the PM RevShares Ponzi scheme in 2015.

Read on for a full review the VIP Turbo Cycler MLM opportunity. [Continue reading…]

The Steinkeller brothers are currently the second biggest earners in the OneCoin Ponzi scheme.

Second only to Juha Parhiala, the brothers head up “One Dream Team” and are routinely trotted out at OneCoin events.

Hailing from South Tyrol, a province in northern Italy, the Steinkeller brothers are purportedly well-known to local authorities.

According to the Gerlach Report, one agency investigating the brothers is Italy’s Direzione Investigativa Antimafia. [Continue reading…]

The news of Germany’s top financial regulator deeming OneCoin illegal has sent shock waves through the OneCoin affiliate base.

This has OneCoin management spooked, with the latest ploy a desperate bid to have independent coverage of the ban removed from the internet. [Continue reading…]

The trouble with running a Ponzi scheme is you attract all manner of seedy people.

When OneCoin told affiliates it was suspending withdrawal requests earlier this year, their less than scrupulous investors had to come up with new ways to withdraw money.

For affiliates in India, that meant creating new accounts for unsuspecting victims and offloading their OneCoin balances in exchange for cash.

For affiliates in China, they saw potential in OneCoin’s DealShaker platform. [Continue reading…]

Following an investor warning from the Bank of Thailand, it has emerged OneCoin is under criminal investigation in Thailand. [Continue reading…]