Joseph Isaacs and his company ISG Telecom assisted TelexFree with telecommunications regulations.

In early 2014, TelexFree retained ISG to register the VOIP phone service and mobile telephone service with various public utility agencies and to perform related services.

For this service, Isaacs was paid hundreds of thousand of dollars in stolen Ponzi funds.

In April, 2016 the TelexFree Trustee filed clawback litigation against Isaacs and ISG, demanding the return of $747,973  in “fraudulent transfers”.

Following discovery, this amount was revised to $575,000.

After ongoing settlement negotiations between Isaacs, ISG and the Trustee, the parties have now agreed to a $50,000 settlement. [Continue reading…]

Race Cycler launched in 2014 and offered affiliates participation in a $230 matrix cycler. Upon reviewing Race Cycler, BehindMLM concluded it was a pyramid scheme.

At the time we suspected Kent Brown was behind the scheme, however further research a week later led us to believe Ronnie Young was running the show.

Young (full name Herman Ronnie Young) was behind TNT Rotator, the precursor to Race Cycler.

Unbeknownst to us, the SEC contacted Young in early 2015. Shortly thereafter, Young shut Race Cycler down. [Continue reading…]

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

The CryptoBitX website does have an “about us” section, however at the time of publication it was blank.

The CryptoBitX website domain (“cryptobitx.com”) was registered on December 20th, 2016. Faisal Kamal of Dubai Petroleum is listed as the owner, with an address in Dubai also provided.

Faisal Kamal (right) first popped up on BehindMLM’s radar last month as the admin of FastBTC.

FastBTC’s business model saw affiliates gift bitcoin to each other via a 2×3 matrix. At the time of publication the FastBTC website was non-responsive.

This suggests the scheme has collapsed, likely prompting Kamal to try again with CryptoBitX.

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

There is no information on the AIDP2PBTC website indicating who owns or runs the business.

The AIDP2PBTC website domain (“aidp2pbtc.com”) was privately registered on January 5th, 2016.

Further research reveals AIDP2PBTC affiliates naming David Velasco as admin of the company.

Velasco is purportedly from Spain and possibly due to language barriers, I was unable to verify this claim myself.

Alexa currently estimate that 79% of all traffic to the AIDP2PBTC website originates out of Spain.

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…]

As per a January 13th filing by the CFTC in the Changes Trading case, Kimball Parker appears to be trying to hide $100,000 from the regulator.

The CFTC filed a lawsuit alleging violations of the Commodity Exchange Act against Parker last October.

Thus far Parker and co-conspirator Timothy Baggett have failed to make an appearance in the case. Default judgement was granted against the pair in November. [Continue reading…]

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

The Inprexia website domain (“inprexia.com”) was privately registered on October 11th, 2016.

The official Inprexia Facebook group has one admin, an account bearing the name “Axiantor Inprexia”. This account lists its location as Lisbon, Portugal.

This account was created only recently on January 14th, 2017.

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 WexCoin website indicating who owns or runs the business.

The WexCoin website domain (“wexcoin.com”) was registered on January 22nd, 2016. Wexco LLC is listed as the owner, with an address in the US state of Delaware also provided.

Further research reveals this address actually belongs to Harvard Business Services.

Harvard Business Service sell Delaware incorporation services, suggesting WexCoin exists in Delaware in name only.

At the time of publication Alexa estimate that Vietnam (61%) and Nigeria (29%) are the largest sources of traffic to the WexCoin website.

Official languages supported on the WexCoin website are English and Simplified Chinese (as used in 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…]

Despite promises to return earlier this month after MMM Nigeria collapsed in December, widespread reports suggest most affiliates in the cash gifting scheme are not getting paid.

In addition to withdrawal restrictions put in place in the hope affiliate recruitment will pick up again, now it appears MMM Nigeria’s top affiliate has fled the country. [Continue reading…]

In contrast to the speed of which European authorities are investigating the scheme, OneCoin warnings from consumer protection agencies continue to roll in.

The latest is a January 25th warning from Slovenia’s Consumer Association. [Continue reading…]

It appears a dispute has broken out between the scammers behind the SwissCoin Ponzi scheme.

In a press-release the Swiss law firm Kanzler Schulenberg & Schenk have announced they’ve obtained an interim injunction against the scheme.

According to the press-release, SwissCoin was up until recently under the control of Eurosolution GmbH. [Continue reading…]