The SEC’s fraud lawsuit against Wings Network (Tropikgadget) began back in February 2015.

Last year several final multi-million judgments were entered against Wings Network and its top affiliates, with a recent $7.7 million dollar judgement now bringing litigation to a close. [Continue reading…]

Yesterday the Congress of South East European Women Entrepreneurs held their annual event in the Croatian capital of Zagreb.

As part of a sponsorship agreement the Ministry of Economy, Business and Trade and Congress organizers, Croatian President Kolinda Grabar-Kitarović and Deputy Prime-Minister Martina Dalic were scheduled to speak at the event.

On the day of the event it was announced Grabar-Kitarović and Dalic had cancelled their respective appearances.

Why?

In addition to the Croatian government, OneCoin was also a primary sponsor of the event. [Continue reading…]

Skyllex provide no information on their website about who owns or runs the company.

The Skyllex website domain (“skyllex.com”) was first registered on July 31st, 2015. The registration was last updated on June 2nd, 2016.

The Skyllex domain registration is set to private, providing no information about who owns it.

Despite the registration of SKYLLEX PTY LTD (ACN: 612 788 600) with the Australian Securities & Investments Commission, Skyllex otherwise appears to be run by anonymous Russians.

Evidence supporting this is as follows:

• Russia is the first offered language on the Skyllex website
• posts on the official Skyllex Facebook page are predominantly in Russian
• the sole admin of the official Skyllex Facebook page is “Peter Waidman”, an evidently bogus account that predominantly follows Russian accounts
• two company “representatives” are provided on the Skyllex website, both from Russia
• Skyllex has Odnoklassniki and VKontakte social media profiles (two of the largest social networks in Russia)
• the corporate address provided on the Skyllex website belongs to the Australian Securities Exchange Ltd (ASX)
• the Skyllex website was designed by a Russian developer

The hyperlink for the Skype support contact on the Skyllex website reveals the name “Tomas Jankauskas”.

Further research reveals Skyllex affiliates citing Jankauskas as “General Director” of the company.

On the official Skyllex YouTube channel, Jankauskas has been hosting official corporate webinars in Russian since July 2016. Webinar footage reveals Jankauskas is using a Russian-language desktop and webinar platform:

For all intents and purposes, Tomas Jankauskas appears to be running Skyllex. Why this information is not provided on the Skyllex website is unclear.

What is clear is that other than a shell company registration, Skyllex exists in Australia in name only.

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 GladiaCoin website indicating who owns or runs the business.

The GladiaCoin website domain (“gladiacoin.com”) was privately registered on November 26th, 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…]

While James Merrill has plead guilty and is scheduled to be sentenced on March 23rd, investigations into TelexFree continue down in Brazil.

The latest has seen five money laundering charges filed against fifteen individuals connected to TelexFree. [Continue reading…]

Along with the usual hackers and DDOS excuses, Know Your Customer is fast becoming a popular reason for Ponzi admins to stop paying out. [Continue reading…]

With the President of Croatia scheduled to speak at a OneCoin sponsored event today, now a warning from the country’s top financial regulator. [Continue reading…]

Synergy Worldwide is based out of Utah and operate in the nutritional supplement MLM niche.

The company was founded in 1999 by Dan Higginson, who primarily focused marketing Synergy Worldwide in Japan.

Dan’s goal was to build a company that would help people everywhere attain better health, grow more prosperous, and support communities in need.

A year or so after launch Synergy Worldwide was sold off to Nature’s Sunshine Products (NSP), the company behind Nature’s Sunshine.

NSP own and operate Nature’s Sunshine and Synergy Worldwide in parallel, with both company’s products manufactured by NSP in Utah.

Synergy Worldwide is still run by Dan Higginson under NSP ownership, with Dan Norman serving as President.

I wasn’t able to ascertain if Higginson (right) had any MLM experience prior to founding Synergy Worldwide. His corporate bio suggests before Synergy Worldwide he was speaking professionally and consulting on personal growth and corporate management.

Some of this work probably crossed over into MLM (speakers and consultants are often hired to appear at MLM company events), which may have laid the foundation for Synergy Worldwide.

Dan Norman is credited with

many years of experience in the network marketing industry and an extensive background in all aspects of information technology.

Prior to his appointment at Synergy Worldwide, Norman appears to have been an executive at Morinda.

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

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

The Bitcoin Grower website domain (“bitcoingrower.tech”) was privately registered on January 13th, 2017.

the official Bitcoin Grower Facebook group currently has four members, only three of which show up.

Of the three none are credited as admin of the group, suggesting the fourth member might be behind the company.

Whether this is a Facebook glitch is unclear. I suspect the account used to create the Bitcoin Grower group might have been intentionally deleted.

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…]

375 Cash Daily provide no information on their website about who owns or runs the business.

The 375 Cash Daily website domain (“375cashdaily.com”) was privately registered on January 24th, 2017.

A 375 Cash Daily promo video on its website is hosted on a YouTube account bearing the name “MMPS Mymultiplestream”.

The same channel popped up last month in connection with the 150 Cash Magic Ponzi scheme.

This YouTube channel is associated with the My Multiple Stream website. My Multiple Stream is an MLM underbelly scheme downline builder.

Scams promoted through the website include My 24 Hour Income, The Ads Team, My 1 Dollar Business, All In One Profits, Global Moneyline and CrazeBTC.

Who is running My Multiple Stream is unclear.

Alexa statistics for the 150 Cash Magic website reveals sluggish growth throughout February. Certainly not enough to sustain a Ponzi scheme, which has likely prompted the launch of 375 Cash Daily.

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…]