Indian authorities have raided the home of Gaurav Mehta, an audit company employee.

The Central Bureau of Investigation has also issued a summons for Mehta. [Continue reading…]

Finopta fails to provide ownership or executive information on its website.

Finopta operates from two known website domains:

1. finopta.xyz – marketing website, private September 2023 registration last updated on September 15th, 2024
2. finopta.top – app, private September 2023 registration last updated on June 6th, 2024

If we look at the source-code of Finopta’s “.XYZ” domain, we find Chinese:

This suggests whoever is running Finopta has ties to China.

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…]

Solana Payouts fails to provide ownership or executive information on its website.

Solana Payouts’ website domain (“solanapayouts.com”), was privately registered on May 28th, 2024.

In the footer of Solana Payouts’ website we find reference to Precognition Capital S.R.O, a purported shell company registered in the Czech Republic.

The sole listed director of Precognition Capital S.R.O is “Sotiris Georgiades”, a purported resident of Cyprus.

Whether Georgiades is an actual person and what their role is within Solana Payouts 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…]

The CFTC is reaching out directly to victims of The Traders Domain Ponzi scheme.

The federal regulator published a “confidential customer survey” on November 14th, which it claims will “provide [the] CFTC with pertinent information on this case.” [Continue reading…]

ByteEpic fails to provide ownership or executive information on its website.

ByteEpic operates from three known website domains:

1. byteepic.vip – marketing website, registered with bogus details on August 22nd, 2024
2. epic-bytes.com – app, private November 3rd, 2023 registration last updated on May 29th, 2024
3. byteepic.com (already abandoned) – privately registered on October 10th, 2024

Despite only existing for a year at best, on its website ByteEpic falsely claims it was “founded in 2013”:

ByteEpic’s claim it is “headquartered” in the US is also based on nothing more than a purported Californian registered shell company. ByteEpic is unlikely to have any actual physical ties to the US.

Of note is pictures displayed on ByteEpic’s website being named in Chinese:

This suggests whoever is running ByteEpic has ties to China.

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…]

Qwidex fails to provide verifiable ownership or executive information on its website.

Qwidex does provide a list of executives, however none of them exist outside of its own marketing. They also appear to be represented by either actors or AI-generated avatars.

Qwidex’s founder and CEO, “Chase Coleman” is played by an actual person – albeit an actor with a Russian accent. This makes him a prime Boris CEO candidate.

Coleman’s FaceBook profile was created in October 2024. As part of the deception, a 2020 entry pretending Coleman launched Qwidex was retroactively added.

This is denoted by the clock icon on the manipulated post:

In an attempt to appear legitimate, Qwidex represents it is based out of New South Wales, Australia.

The provided address belongs to virtual office retailer Servcorp. Beyond registering Qwidex Pty Ltd as a shell company with the Australian Services and Investment Commission (ASIC), it is unlikely Qwidex has any physical ties to Australia.

ASIC are known for non-timely regulation of MLM fraud. Furthermore anyone can register a company with ASIC using whatever bogus details, there is no verification.

For this reason ASIC registration is favored by scammers residing outside of Australia.

With respect to MLM due-diligence, ASIC registration certificate as proof of legitimacy is therefore meaningless.

Tying in with “Chase Coleman” having a Russian accent, Boris CEO scams are typically the work of eastern European scammers (Russia and Ukraine).

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…]

Stemtech and Viago (formerly Seacret Direct) have announced a merger.

As per a November 20th press-release; [Continue reading…]

Cannerald, aka CannerGrow, has received a securities fraud warning from Germany’s BaFin.

As per BaFin’s October 14th warning, Cannerald AG is under “suspicion of public offering of profit participation certificates without required securities information sheet”.

BaFin’s wording is a bit janky but this is the equivalent of a securities fraud warning in other jurisdictions. [Continue reading…]

Indian authorities in Thane have made several arrests related to the Oris Team Ponzi scheme.

As reported by Maharashtra Mirror on November 19th; [Continue reading…]

After failing to respond to an SEC lawsuit filed against him, Trevon James has asked a court to set aside a recorded entry of default.

In a six-page October 18th filed pro-ser letter, James has also informed the court he doesn’t “have the Bitcoin to liquidate in order to pay these fines.” [Continue reading…]