A few days ago BehindMLM published a review of MacroCoin.

Seemingly run by individuals involved in the ByXpress, Coins Race and MCoin scam, suffice to say our review was less than flattering.

As per the MacroCoin website, the company is run by UECB Group (click to enlarge):

Simon Karakas serves as MacroCoin’s CEO and Rok Potocnik as a “Senior Executive” (click to enlarge):

Based on analysis of MacroCoin’s business model (compensation plan), we concluded it was a combination of pyramid recruitment, Ponzi fraud and unregistered securities.

The folks over at MacroCoin aren’t to happy with that and have since threatened BehindMLM with legal action. [Continue reading…]

Back in July the Turkish Customs and Trade Ministry launched an investigation into Kairos Technologies.

The aim of the investigation was to establish whether or not Kairos Technologies was a pyramid scheme.

As with most countries, the operation and promotion of pyramid schemes is illegal.

In a press-release issued yesterday, the Customs and Trade Ministry announced the results of their investigation. [Continue reading…]

Merlim Network was founded in 2014 and is the MLM division of Magitek International.

Magitek International is a mobile app developer based out of out of Colombia. The company also has a presence in Brazil, Ecuador and Nigeria.

Heading up Magitek International and Merlim Network is Fredy Morelo (right), who serves as CEO of both companies.

Neither Merlim Network or Magitek International provide any information about Morelo’s corporate history on their website.

Possibly due to language barriers, I was unable to research any information myself. From the looks of it though, Merlim Network appears to be Morelo’s first MLM venture.

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

The MLM underbelly in Nigeria is set to get even more bizarre, with local scammers lobbying the government to legalize Ponzi schemes.

Investors who lost money after MMM Nigeria collapsed last month seem to be under the impression that, if legalized, Ponzi schemes won’t collapse. [Continue reading…]

There is no information on the Jolly 5x Pander website indicating who owns or runs the business.

The Jolly 5x Pander website domain (“jolly5xpander-junior.com”) was privately registered on December 7th, 2016.

The official Jolly 5x Pander Facebook group has six admins; Ricardo Vitaminas Seixas, Ram Seo, Bosko-Toni Cvetanovski, Dijana Burivoda, Milos Balaban and Mirko Stijakovic.

Whether one of these individuals is running Jolly 5x Pander or they are doing so collectively 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…]

FINMA are an “independent supervisory authority” that regulate Switzerland’s financial markets.

As per FINMA’s website, the regulator’s

mandate is to supervise banks, insurance companies, exchanges, securities dealers, collective investment schemes, and their asset managers and fund management companies.

It also regulates distributors and insurance intermediaries. It is charged with protecting creditors, investors and policyholders.

FINMA is responsible for ensuring that Switzerland’s financial markets function effectively.

On the 30th of September 2016, FINMA added SwissCoin to their warning list. [Continue reading…]

With arrests in Belarus and authorities investigating in Turkey, Lithuania, Hungary, Slovakia and Estonia, Kairos Technologies is having a hard time keeping its banking channels open.

A few days ago the company announced plans to set up a new shell company to continue scamming people through.

Since last November Kairos Technologies has been using ESA Holding GMBH, an Austrian shell company, to pay affiliates with.

Austrian authorities have now caught on and a warning has been issued to the general public. [Continue reading…]

Bit2Fund launched in early December and name Binay Sinha as owner of the company.

Sinha claims to be ‘an online entreprenuer [sic] living in India‘.

Sinha (right) appears to own the “sana khan” Bit2Fund admin account, which new referrals are defaulted under if they try to sign up without a Bit2Fund affiliate link.

The Bit2Fund website domain (“bit2fund.org”) was registered on the 9th of December, 2016. Bhaskar Sinha is listed as the owner, with an address in Assam, India also provided.

Sinha is also the sole admin of the official Bit2Fund Facebook group, where he also goes by Binay Sinha.

In addition to running Bit2Fund, Sinha is also an affiliate of My Paying Ads and My Paying Crypto Ads Ponzi schemes.

Read on for a full review of the Bit2Fund MLM opportunity. [Continue reading…]

The My BTC Life website identifies Lubos Hollan and Tousif Parvez as admins of the company.

Hollan is based out of Slovakia and claims ‘the only way to earn some money online is to learn how to recruit and promote‘.

Parvez is based out of Abu Dhabi and is credited as the designer and main admin of My BTC Life.

Both Hollan and Parvez first appeared on BehindMLM’s radar as co-admins of BitDonix.

BitDonix launched in October with a bitcoin-based cash gifting business model. Hollan and Parvez are still credited as admins of the scam on the BitDonix website.

Prior to BitDonix Hollan was an affiliate of the collapsed My 24 Hour Income Ponzi scheme. Tousif Parvez has experience in “pay to click” marketing through his Clix Union and Guru Clix opportunities.

Why Hollan and Parvez have launched a second opportunity only a few months after launching BitDonix is unclear.

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

As far as I can tell, LCF Coin or whoever is behind it doesn’t have an official web presence.

Those promoting LCF Coin are doing so via Google forms. What happens to the information entered into these forms is unclear.

The marketing narrative for LCF Coin is that the Rothschild Family and Chinese government are teaming up to launch a cryptocurrency.

That’s pretty much all they’re going with, apart from an official launch purportedly taking place in February, 2017. [Continue reading…]