There is no information on the Profit Venture website indicating who owns or runs the business.

The Profit Venture website domain (“profit-venture.com”) was registered on the 22nd of April 2016, however the domain registration is set to private.

The official Profit Venture Facebook group lists one admin, Mark Sanchez.

The Mark Sanchez profile is likely fake, having only been created on April 10th, just shy of two weeks before the Profit Venture website domain was registered.

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…]

Unetenet initially launched in 2013 and combined pyramid recruitment with “franchise” Ponzi ROIs.

In late 2014 Unetenet advised affiliates of payment difficulties, citing regulatory issues in Latvia.

Over the next nine months the scheme attempted to reboot itself as a cryptocurrency opportunity. Unetenet affiliates invested in Unetes, with one Unete purportedly equal to $1.

In reality, Unetenet introduced Unete to convert its Ponzi liability into virtual Ponzi points that held no value.

When Unetenet affiliates attempted to conver their Unete points into real money, Unetenet collapsed.

20,000 investors filed a class-action lawsuit against Unetenet in mid 2015, alleging that 22,000 victims had lost around €50 million EUR.

A month later Spanish authorities took action and arrested twenty Unetenet insiders. Properties connected to the scheme were raided, with police also seizing Untenet funds and assets.

José Manuel Ramírez Marco, the owner of Untenet, was not named as one of the insiders arrested in Spain.

In January 2016, two more Unetenet arrests were made in Bolivia. One of those apprehended was Adrian Trigo, purportedly second in command of Unetenet.

Despite two separate collapses and numerous arrests, last month Unetenet resurrected itself with a new MLM opportunity. [Continue reading…]

There is no information on the Real Cash Now website advising who owns or runs the business.

The Real Cash Now website is hosted on the “beep.com” domain. Beep is a third-party service merchant that provides free web hosting.

One of the payment processors Real Cash Now accepts is PayPal.

PayPal payment instructions provided on the Real Cash Now website are as follows:

This same email address features on an Empower Network affiliate website belonging to Jose Delgado:

At the time Delgado (right) was marketing Mul4u, which sounds like a typical Ponzi scheme:

you can put in $5 and get back $15.00 …. Put in $10 and get back $30.00 …. Put in $20 and get back $60.00 …. Put in $100 and get back $300.00 !!! …. and on and on and on!!

Today the website domain redirects to Delgado’s Wealth Generators capture page.

A search on Jose Delgado’s email address reveals his involvement in a whole bunch of scams.

Delgado has been at it since at least 2011, when he was promoting the Instant Daily Cash Ponzi scheme.

Read on for a full review o the Real Cash Now MLM opportunity. [Continue reading…]

On July 29th an optimistic Ed Ludbrook announced on Facebook:

Australia is launched! Perth rocked. Melbourne tomorrow, then Sydney, Gold Coast and Cairns!

See – OneLife-OneCoin Australia/New Zealand for booking.

Unfortunately for Ludbrook, his Melbourne event didn’t go quite as planned… [Continue reading…]

BC Academy first popped up on BehindMLM’s radar as a reboot of the uFun Club Ponzi scheme.

uFun Club investors were given positions in BC Academy, suggesting the uFun Club affiliate database had been sold to BC Academy’s owners.

At the time limited information about the BC Academy MLM opportunity was available. Since then further details about the company have emerged, such that I’m now able to put together a formal review.

BC Academy claim to be “authorized” by BookCoins to “distribute shares”.

BookCoins is a separate company, who claim to be ‘the world’s largest online bullion marketplace trading platform‘.

BOOKCOINS manages billions of tangible and intangible assets including silver – more than the silver reserves of some countries.

There is no proof of either of these claims provided on the BookCoins website.

The company itself appears to be made up of three entities; BOOKCOINS LLC in New York, BOOKCOINS FZE in Dubai and BOOKCOINS Pte. Ltd. in Singapore.

BookCoins LLC does appear to be a registered corporation in New York. The address provided for the business however is that of an agent.

Another address in New York provided on the BookCoins website is that of a PO Box. As such, whether BookCoins actually exists in the US other than in name only is unclear.

BC Academy meanwhile provide a corporate address on their website in Kuala Lumpur, Malaysia.

According to BC Academy’s compensation plan documentation, the company is headed up by CEO Wyson Chan (right). BookCoins is headed up by Chairman Alex Siaw.

According to a post on Chan’s Facebook page dated September 2015, he and Siaw are working together through Naim Indah Corporation Bhd.

Today is a remarkable day for my career path. After months of consideration, I finally decided to make this announcement here that I have invested into a public listed company in Malaysia, Naim Indah Corporation Bhd (NICORP 4464 Main board Bursa Saham) and will be taking up the position of ” Business Development Director” in the company, and also “Managing Director” position in one of the subsidiary company, Naim Indah Mutiara Capital Berhad.

NICORP’s group chairman, Dato Seri Alex Siaw and his partner, Dato Ion Lee will be my close working partners in driving and developing the company. I would also like to thanks them for giving me this opportunity to work together.

Chan appears to have signed on as BC Academy CEO in early 2016.

As for Alex Siaw, Naim Indah Corporation Bhd was tied to uFun Club mid last year.

The MO of this group is the registration of dozens upon dozens of companies, through which the actual owners of uFun Club, BC Academy, BookCoins (and anything else they’ve launched) are obscured.

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

The original argument of those who profited in the Zeek Rewards Ponzi scheme was that it wasn’t a Ponzi scheme.

After wasting $30,000 of Zeek Reward victim’s fund on an expert witness they hoped would prove just that, turns out the witness was unable to disprove Zeek Rewards was a Ponzi scheme.

Armed with this conclusion, late last month the Zeek Receiver filed for summary judgement against Zeek’s top net-winners.

In a July 29th response filing, the net-winner class attorney is now arguing Zeek’s top profiteers “provided value” to the $900 million Ponzi scheme and believed it was a legitimate business. [Continue reading…]

There is no information on the Fresh Ads Daily website indicating who owns or runs the business.

The Fresh Ads Daily website domain (“freshadsdaily.com”) was registered on June 22nd 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…]

iTravel Party launched just over a year ago. BehindMLM reviewed the opportunity in June 2015 and concluded it was a matrix cycler.

iTravel Party affiliates signed up for $299 and were paid $400 when they filled a 2×2 matrix via recruitment.

Our recent review of 2×2 Destiny, a feeder for iTravel Party, revealed the company has since changed its compensation plan.

Today we re-review iTravel Party’s compensation plan and find out how the travel-based opportunity has changed. [Continue reading…]

Cyber crime police in Hyderabad, India have apprehended the owner of 3G Coin.

BM Jagadeesha, was arrested in Bengaluru by the Cyberabad cyber crime team on July 16 and is now on remand.

Jagadeesha’s setup at 3G Coin was typical of many Indian-based MLM underbelly schemes. [Continue reading…]

Last we checked in the WCM777 Receiver was grappling with $386 million in claimed losses by WCM777 affiliates.

The problem is that, on paper, WCM777 only took in $86 million.

In March the Receiver requested additional time to further analyze and verify submitted claims.

As per a July 22nd filing that process is still underway, with the Receiver requesting more time to weed out bogus claims. [Continue reading…]