In a warning issued to consumers, the UK’s Financial Conduct Authority has revealed that London police are now investigating OneCoin.

The Financial Conduct Authority (FCA) is a finance regulator in the UK that operates independently of the UK government. [Continue reading…]

There is no information on the CPS Traders website specifically identifying who owns or runs the company.

MMO24hs Group is presented is described as a “financial group” and presented as CPS Traders’ parent company.

Our MMO24hs Group is an online based company with its representatives living in the USA, the UK, Australia, Hong Kong and Japan.

The group was firstly founded by bitcoin miners and traders in the early of 2009.

We have reached over 610 employees of programing (sic), trading, mining and advertising since January of 2016.

The CPS Traders website domain was registered on the 17th of June 2016, however the domain registration is set to private.

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…]

To date Brazilian authorities have seized and fined TelexFree for over R$1 billion ($308 million USD).

On top of that the Brazilian IRS have issued TelexFree with more than R$3 billion ($924 million USD) in tax-related penalties.

The state of Acre, who were first to freeze to TelexFree in Brazil, are trying to secure these funds to put towards local resources.
[Continue reading…]

The Raining Dates website identifies two admins, Georgetta Monroe and Timothy L. Drobnick Sr.

Both are the administrators and are equally responsible for running Raining Dates Agents.

Timothy L. Drobnick Sr. has been involved in online marketing for years.

In 1995, after watching the internet since 1991, Tim decided to sell all his enterprises and go 100% into internet marketing

He is the creator of the social network WOM Vegas website, which he operates through PEEL Marketing.

On his Facebook profile, Drobnick Sr. (right) was recently promoting a tax return business.

Drobnick Sr. claims to have ‘marketed for several network marketing companies building organizations with as many as 200,000 distributors‘, however I was unable to find any specific examples.

Monroe appears to have worked with Drobnick Sr. for a number of years, primarily through WOM Vegas and related companies.

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

There is no information on the Power Elite Team website indicating who owns or runs the business.

The Power Elite Team website domain (“powereliteteam.com”) was registered on the 15th of September 2016, however the domain registration is set to private.

The official Power Elite Team Facebook group has four listed admins; TammyBeth Gillispie, Annette Keibler, Gladys Fonkwo and Bev Franklin.

It is assumed one or more of these group admins are running Power Elite Team.

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…]

There is no information on the Mighty Buyer website indicating who owns or runs the business.

The Mighty Buyer website domains (“mighty-buyer.net” and “mighty-buyer.store”) were registered on the 10th of December, 2014 and 5th of September, 2016 respectively.

The .NET domain is registered privately, however the .STORE domain lists Samuel Gurschler as the owner. An address in Austria is also provided.

The Mighty Buyer terms and conditions meanwhile mention “Mighty Buyer LLC” and claim it is incorporated in the US state of Delaware.

This appears to be a shell registration, with Mighty Buyer actually operated of Austria.

Possibly due to language barriers, I was unable to find any further information on Samuel Gurschler.

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…]

There is no information on the eDigital Wealth website indicating who owns or runs the business.

The eDigital Wealth website domain (“edigitalwealth.co”) was registered on the 14th of March 2016, however the domain registration is set to private.

Further research reveals eDigital Wealth marketing videos featuring Steven Seppinni (right).

Seppini is credited with designing eDigital Wealth’s compensation plan. Seppinni refers to eDigital Wealth in the possessive, suggesting he owns the company.

Steven Seppinni first popped up on BehindMLM’s radar as CEO and Founder of Malibu Mastermind.

Malibu Mastermind launched in early 2014 and marketed monthly online marketing training subscriptions.

Malibu Mastermind flopped shorty after launch and was relaunched as Prosper Everyday earlier this year in February.

A visit to the Prosper Everyday website reveals a parked domain, suggesting the company didn’t last long.

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

As expected, a response in opposition to a preliminary injunction against Traffic Monsoon and Charles Scoville is pretty much more of the same.

The Court should deny the SEC’s motion in its entirety for more fundamental reasons: AdPacks are not “securities;” AdPack buyers are not and were not “investors;” and Traffic Monsoon is not a “Ponzi Scheme.”

A new argument not previously raised however, suggests the SEC should abandon Ponzi regulation if the majority of scamming takes place outside of the US. [Continue reading…]

The ruse behind OneCoin using newly invested funds to pay off existing investors is that the company sells cryptocurrency education.

This education is delivered in the form of lengthy PDF files, filled with content either copied from third-parties with no attribution or loosely rewritten.

Upon quizzing a random selection of OneCoin investors as to the contents of the cryptocurrency education they supposedly bought, you’d likely get an equally random selection of blank stares.

Despite OneCoin’s token efforts to enforce pseudo-compliance to push the “we sell education” line though, every now and then the truth simmers to the surface.

Today that truth is brought to you courtesy of Kaj Naparstok. [Continue reading…]

There is no information on the Simple Simon’s System website indicating who owns or runs the business.

The Simple Simon’s System website domain (“simplesimonssystem.com”) was registered on the 13th of August 2016, however the domain registration is set to private.

The Simple Simon’s System website links to an official Facebook group. The sole admin of the Simple Simon’s System Facebook page is Rob McAtamney (right).

McAtamney is based out of Queensland, Australia. He first popped up on BehindMLM’s radar as the admin of the One Time Infinity Ponzi scheme in 2015.

In 2016 McAtamney has so far launched Cash Money Bucket (relaunched 2015 scam), 3to600 (February 2016) and VIP Promoters Club (April 2016).

Both 3to600 and VIP Promoters Club were matrix cycler Ponzi schemes that collapsed shortly after launch. Cash Money Bucket was relaunched in July and appears to still be operational.

Read on for a full review of the Simple Simon’s System MLM opportunity. [Continue reading…]