On April 18th all parties involved in the SEC vs. Achieve Community civil case filed a joint motion to vacate the scheduled December 5th trial date.

Citing judicial efficiency, the motion requested the

court vacate the current trial date of December 5, 2016 in light of the ongoing criminal proceedings against Defendants Barnes and Johnson, which are expected to proceed to trial sometime in late 2016.

On April 20th Judge Blackburn granted the motion, ordering that the SEC’s civil action be administratively closed. [Continue reading…]

There is no information on the Website2Share website indicating who owns or runs the business.

On the Website2Share FAQ the company claims to be a “legal certified company based in the UK”. This corresponds with a provided corporate address in the UK.

Further research reveals a number of businesses listed as operating out of the same address. This suggests it is just a rented mailbox, with Website2Share having no actual physical presence in the UK.

Registering a company in the UK costs about £20 GBP ($28 USD) and requires at a minimum a UK-based mailing address.

The Website2Share website domain (“website2share.com”) was registered on the 15th of March 2016 and lists Bystrik Stefak as the owner.

Prior to launching Website2Share, Stefak (right) was promoting the Get Paid Social recruitment scheme. Before that he was an affiliate with Wazzub (Perfect Internet), a failed search portal MLM.

Today Stefak is an affiliate with FutureNet, a matrix cycler that recently launched an ad-credit Ponzi scheme.

According to Stefak’s FutureNet profile he is based out of Slovakia, which is presumably where Website2Share is actually being operated from.

Read on for a full review of the Website2Share MLM opportunity. [Continue reading…]

In another blow to TelexFree’s Brazilian based Ympactus, the company has been fined $1.5 million for “crimes against the economy”.

The fine stems from a National Bureau of Consumer Law (Senacon) investigation, which found Ympactus operated as a “Ponzi pyramid scheme”. [Continue reading…]

The Superintendency of Societies is a government regulator in Colombia charged with overseeing companies operating in the country.

Citing a new law introduced earlier this year in January, the Superintendency of Societies has issued a warning against OneCoin. [Continue reading…]

Dating back to early March, the TelexFree Trustee has filed no less than thirteen clawback lawsuits against non-investors who profited from TelexFree.

Under counts of fraudulent transfer filed in adversary proceedings, the parties the TelexFree Trustree is suing are as follows: [Continue reading…]

In a court filing that flew under the radar until Patrick Pretty reported on it earlier today, TelexFree’s top US investors have been named and shamed.

Sorted by the amount of money they stole from victims in the $3 billion dollar Ponzi scheme, the one hundred and five TelexFree affiliates cited in the filing are as follows: [Continue reading…]

Voltage Partners operate in the mobile app MLM niche and list a Washington PO Box as a corporate address on their website.

Heading up Voltage Partners is CEO Gordon Comfort.

As per Comfort’s LinkedIn profile;

I am a motivated, highly educated, solutions-driven CEO with extensive experience over a broad spectrum of crossover industries.

I am an experienced presenter of concepts and ideas with the ability to break down complex topics into more manageable business terms. My education includes a Ph.D. in Business and Technology, an M.Ed., and from the beginning a B.A. in English.

Comfort doesn’t appear to have any MLM experience, with Voltage Partners appearing to be his first venture as an MLM corporate executive.

Prior to his position as an Assistant Principal, Comfort was appointed Principal in the Richland School District of Washington in 2007.

In 2011 Comfort resigned and was appointed CEO of Goodwill Industries of the Columbia.

According to their website, Goodwill Industries of the Columbia is an organization that provides

education, training, and employment services, all geared to help individuals overcome disabilities and other social disadvantages and to obtain independence and self-sufficiency through the power of work.

In mid 2015 Comfort ran a successful campaign for a position on the Richland School Board. His four-year term expires in 2019.

In December, 2015 Comfort resigned from Goodwill Industries of the Columbia. He assumed the role of CEO at Voltage Partners in January, 2016.

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

This one’s a bit messy, so bear with me.

Following on from our February article “How Payza & friends are screwing Zeek Rewards investors“, efforts to recover funds from Zeek Reward’s shady banking operations continue.

Our players in this story are:

• Payza – a payment processor synonymous with the MLM underbelly
• Payment World – a Hong Kong based merchant processor Payza used
• Banca Comerciala Victoriabank SA (VictoriaBank) – a Moldovan-based bank Payment World used to stash funds deposited into it by Payza and
• Bank of New York Mellon – a New York based bank that Victoria Bank holds a “correspondent bank account” with

Under contention is some $13 million dollars in stolen Ponzi funds, currently frozen via court-order in VictoriaBank’s Bank of New York Mellon account.

The story so far has seen VictoriaBank give the Zeek Receivership the runaround.

After following the money and tracing it to VictoriaBank, the bank turned around and told the Receiver there is ‘no evidence that this account and these funds are connected with RVG‘.

This despite a paper-trail showing Zeek Rewards processing the funds through Payza, who processed the funds through Payment World, who deposited the funds with VictoriaBank.

The Receiver suspects VictoriaBank has since transferred the funds off into Russia somewhere, so a court-order was sought to freeze the owed amount in VictoriaBank’s Bank of New York Mellon account.

Pending today’s updates, that’s where we’re currently at. [Continue reading…]

The legal status of Lyoness in Austria is… complicated.

Earlier this year Lyoness was found guilty of deceptive trade practices.

Lyoness filed an appeal against the decision, which was denied last month.

A concurrent push to hold Lyoness and founder Hubert Freidl accountable on a criminal level has also been playing out.

Late last year an Austrian court ruled against the White Collar Crimes and Corruption” Public Prosecutor’s Office (WKSTA), clearing both Lyoness and Freidl of criminal charges.

WKSTA filed an appeal, which was denied last week. [Continue reading…]

Since August 2011 Vemma has held a Private Company Management Liability Insurance Policy with Hanover Insurance Company.

The policy has a liability limit of $5 million dollars, yet to date Vemma have been unsuccessful in getting Hanover to fund their FTC lawsuit defense.

Should BK Boreyko have read Vemma’s insurance policy closer, or is he getting screwed? [Continue reading…]