Regulatory investigations of OneCoin are spreading across Europe, with Germany the latest country to launch an investigation into the suspected Ponzi scheme. [Continue reading…]

A marketing video on the SmashFund website identifies Rob Towles as CEO of the company. On his LinkedIn profile, Towles also cites himself as SmashFund’s Founder.

Rob Towles (right) was CEO and primary shareholder of Efusjon, an energy drink MLM that went bust in 2010. A year earlier one of their affiliates filed a lawsuit against the company, alleging it to be a pyramid scheme.

The lawsuit was settled confidentially in 2010. A few months later Efusjon closed its doors.

Efusjon, or rather its product line, resurfaced as LabActive in 2013. Who owned LabActive wasn’t disclosed on the website, however DSA records at the time revealed Rob Towles was behind the company.

Our BehindMLM review of LabActive revealed the business opportunity to be heavily geared towards affiliate autoship recruitment.

Today the LabActive website is non-responsive, although when the company was abandoned is unclear.

On his LinkedIn profile Towles lists his location as California in the US. This is presumably where SmashFund is being operated from.

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

There is no information on the United Games Marketing website indicating who owns or runs the business.

At the time of publication, the United Games Marketing website is little more than a sign-up page.

The United Games Marketing website domain (“unitedgames.co”) was registered on the 25th of May 2016, however the domain registration is set to private.

Further research reveals United Games Marketing affiliates naming Natalyn Lewis as owner and co-founder of the company.

I wasn’t able to find any information on who the other co-founder(s) of United Games Marketing are.

Natalyn Lewis (right) is based out of Utah in the US, which is presumably where United Games Marketing is being operated from.

On the executive side of things, Natalyn Lewis was Director of Marketing for Nu Skin. After Nu Skin Lewis went on to become Corporate Consultant and Distributor Liaison with Syntek Global.

More recently Lewis worked with Asea as marketing consultant, developing Asea’s affiliate marketing tools.

Why none of this information is provided on the United Games Marketing website is unclear.

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

WeShare Crowdfunding was a cash gifting scheme launched mid last year.

Alexa traffic statistics suggest the scheme went into decline shortly after, however it did manage to limp along until recently.

Unfortunately for most participants in the scheme, the inevitable collapse has hit and their funds are lost.

Roughly a year after it’s launch, James Hill and his top affiliates are again gearing up to fleece victims in a new reboot scheme. [Continue reading…]

The Practical Financial Investment Group website presents James Brown as owner of the company.

The Practical Financial Investment Group website credits Brown with working for “20 plus years (as an) entrepreneur from home” and earning a “five figure monthly residual”.

James now mentors and trains others on how to earn a yearly residual income monthly by investing in PFIG and or working a few hours per week.

On the CareerBuilder website, James Brown (right) is advertising Licensed Insurance Agent positions for Summit Alliance Advantage.

Income:

•Qualify for monthly bonus programs in addition to commissions

•First year potential to earn $130k – $275k with much higher long term growth attainable

•Management opportunities with no territory restrictions are currently available

•Managers with multiple years experience can make $250k-$500k first year

A Google search on “Summit Alliance Advantage” reveals Brown advertising the same positions on a number of employment-related websites.

Practical Financial Investment Group does is not named on any of Brown’s Summit Alliance Advantage classifieds.

Brown lists his location in the ads as Dallas, Texas, which is presumably where Practical Financial Investment Group is being operated from.

Read on for a full review of the Practical Financial Investment Group MLM opportunity. [Continue reading…]

Providing further evidence that FX United are not engaged in legitimate investment activity, news today that the New Zealand Companies Office has deregistered the company as a Financial Services Provider. [Continue reading…]

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

The StepCoin website domain (“stepcoin.net”) was registered on the 24th of March 2016, however the domain registration is set to private.

The StepCoin Partner Agreement mentions “Jannim Trading LLP” as “the company” behind StepCoin.

Jannim Trading LLP (hereinafter the “Company”) proposes any individual person to attain a status of a “Partner” of the Company, participate in the Programmes of the Company under the conditions of the present Partnership Agreement (hereinafter “Agreement”).

To become a Partner of Jannim Trading LLP and participate in Programmes of the Company, you should be familiarized with and confirm acceptance of the Agreement.

Jannim Trading LLP appears to be a shell company registered in the UK.

Incorporated in January 2015, Jannim Trading LLP’s listed officers are Kanado Investments Limited and Tioma Management Limited.

Up until March 24th 2016, around the time StepCoin launched, Jannim Trading LLP’s listed officers were Tamian Systems LTD and Folleren Services INC.

Kanado Investments and Tioma Management are incorporated in the British Virgin Islands, Tamian Systems and Folleren Services in Belize.

There’s no legitimate reason for an MLM company to be operated through a shell company that in turn is operated through two more shell companies, incorporated in known tax-havens.

This is alone is highly suspect and indicative of the lengths StepCoin owners and management have gone to hide themselves from the general public.

Of note is the StepCoin website language defaults to Russian and the StepCoin website domain was registered through a Russian registrar.

The StepCoin Partner Agreement states:

The present Agreement is made in the Russian and English languages.

In case of variation between the Russian language version and the English language version, the Russian language version of the present Agreement shall prevail.

Alexa also currently estimate that 67.1% of all traffic to the StepCoin website originates out of Russia.

This strongly suggests whoever is running StepCoin is based out of Russia.

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…]

Yesterday I was contacted Huron Consulting Group, Financial Advisor to the TelexFree Trustee, requesting assistance in getting word out about the victim claims process.

In addition to covering the claim portal going live last week, here’s a copy of the official Notice of Deadline For Filing Electronic Proofs of Claim and Claims Procedures. [Continue reading…]

The Exitus Elite website lists Paul Stevenson as the sole owner and operator of the company.

On his Facebook profile, Stevenson lists his location as Brighton in the UK. This is presumably where Exitus Elite is being operated from.

As per Stevenson’s Exitus Elite corporate bio;

Paul has spent over 25 years in the Sales and Home-Based Business arena and is considered to be an expert in the field of making money online. He has worked at both a corporate level and as a distributor/affiliate.

Having decided that “High Ticket” was the fastest way to make serious income, Paul left the MLM industry behind and looked for the best opportunity he could find.

There were NOT that many. He actually joined most of them and made good money, but realized that all of them still had something lacking.

In the summer of 2014, while living in Florida, the idea of Exitus was formed. Today, it is one of the most dynamic “high-income” opportunities available online.

The Exitus Eite website domain was registered on February 26th, which contradicts the claim it was “formed” in 2014.

The reason for that is Exitus Elite began life as Exitus Network.

Exitus Network was a $500 to $12,000 cash gifting scheme. Today it no longer exists, with the Exitus Network doman redirecting to “exituslifestyle.com”.

There’s nothing on Exitus Lifestyle domain domain except an affiliate login form.

Prior to launching Exitus Network, Stevenson was co-owner of Prosperity Cash Machine.

Prosperity Cash Machine saw affiliates $175 for matrix positions, with commissions paid when they recruited others who do the same.

It seems Exitus Network collapsed sometime after its 2014 launch, with Stevenson now relaunching it as Exitus Elite.

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

uFun Club was an MLM cryptocurrency scheme launched around 2012.

Under the pretense of offering the uToken cryptocurrency, uFun Club adopted the Ponzi points model pioneered by Zeek Rewards.

In April of 2015 Thai authorities shut the company down and began arresting uFun Club investors.

In an effort to salvage the scheme, uFun Club management fled to Malaysia and rebranded as Unascos.

Starved of new investment, Unascos didn’t go anywhere and promptly collapsed.

Now, it appears uFun Club investors are being targeted in a third reincarnation of the scheme. [Continue reading…]