Back in September the US Commodities Futures Trading Commission (CFTC) filed a lawsuit against Timothy Baggett, Kimball Parker, Make Your Future, Changes Worldwide, and Changes Trading.

As per the lawsuit, the defendants stand accused of violating the Commodity Exchange Act. The CFTC are seeking ‘restitution, disgorgement, civil monetary penalties, a permanent trading ban, and such other equitable relief‘.

On September 27th a summons was issued to the defendants. All five defendants were subsequent served a copy of the summons.

To date none of the defendants have responded to the CFTC’s complaint. [Continue reading…]

Back in May OneCoin announced they were rolling out UnionPay branded cards for their Chinese investors.

Such was the misleading marketing around the cards, that UnionPay had to issue formal clarification that the cards could not be used to conduct transactions in OneCoin.

The UnionPay cards were dummy cards that OneCoin affiliates could load up with approved withdrawal requests and then spend within China.

Despite the arrest of OneCoin affiliates in China, seizure of million of dollars and regulatory confirmation that OneCoin is illegal in China, UnionPay have continued to turn a blind eye to OneCoin’s use of the cards for money laundering.

That might have now changed, following an announcement that OneCoin’s UnionPay cards have been disabled. [Continue reading…]

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

The BCoinShare website domain (“bcoinshare.com”) was registered privately on October 18th, 2016.

The official BCoinShare Facebook group lists one admin, Mike Anderson.

The Mike Anderson profile appears to be fake, having only been created on the 29th of September. The profile began publishing promotion material for BCoinShare shortly after it was created.

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…]

Last week we covered the SEC’s Motion For Summary Judgement against USFIA and owner Steve Chen.

Chen had filed an opposition to the motion on November 7th which, in my opinion, raised a number of flawed arguments.

The SEC has addressed these arguments in a reply brief filed on November 14th. [Continue reading…]

One of the pitfalls of Ponzi scheme investment is depositing funds directly with the scammer who recruited you.

In the event the Ponzi scheme is shut down by regulators, such transactions are difficult to track and typically result in a victim claim being disallowed.

Unfortunately more than a few WCM777 Ponzi investors deposited funds into the scheme via their uplines. They’re now learning the hard way that the decision will likely cost them thousands of dollars. [Continue reading…]

There is no information on the Power of 3 Squared website indicating who owns or runs the company.

The Power of 3 Squared website domain (“powerof3squared.com”) was registered privately on the 16th of October, 2016.

Marketing videos for Power of 3 Squared are narrated by an American, however the company’s privacy policy states:

If you are located outside United Kingdom and choose to provide information to us, please note that we transfer the information, including Personal Information, to United Kingdom and process it there.

This Policy shall be governed and construed in accordance with the laws of England and Wales, without regard to its conflict of law provisions.

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…]

The 7 Sites website identifies Mike Peever as the owner and operator of the company.

Peever is based out of Ontario, Canada and is a long-time inhabitant of the MLM underbelly.

Peever first popped up on BehindMLM’s radar in 2012 as the admin of Cash Club International, a six-tier matrix Ponzi cycler.

In 2013 Peever launched The Last Cycler, a $10 Ponzi pyramid hybrid.

2014 was a quiet year for Peever. In 2015 however he launched Decide Your Path ($15 matrix-based recruitment scheme) and Success Cycler ($25 subscription-based Ponzi).

Peever was also an investor in the Zeek Rewards Ponzi scheme.

Earlier this year in February Peever launched The F15teen, another matrix Ponzi cycler. Alexa traffic estimates suggest The F15teen collapsed in mid-May.

Read on for a full review of The 7 Sites MLM opportunity. [Continue reading…]

On November 11th the WCM777 Receiver filed her eleventh Interim Report.

Topics covered in the report include:

• funds recovered
• the sale of a California property and
• the Diamex Diamonds (PMX Jewels)

I’ve separated the various topics covered into appropriate subheadings below. [Continue reading…]

Following a guilty plea entered last month, earlier today Sanderely Rodrigues fronted court for a sentencing hearing.

Rodrigues faced a maximum penalty of ten years in prison, supervised release for three years, a $250,000 fine and deportation. [Continue reading…]

The YoloPros website identifies Jay Ahlin and Kai Jacobson as co-founders of the company.

This matches the YoloPros website domain registration, which lists Kai Jacobson as the owner. An address in the US state of Hawaii also provided.

Earlier this year Kai Jacobson was promoting the iCharity Club cash gifting scam on Facebook.

Jacobson also holds an affiliate position in Lifewave. Up until last month this position was named “Kai Jacobson Randy Hood”, it has since been renamed “K & R International”.

Jay Ahlin is based out Nevada and was an affiliate with iWowwe till about 2012.

Earlier this year Ahlin was also promoting iCharity Club on Facebook. Ahlin has also promoted WeShare Crowdfunding, another cash gifting scheme.

Other MLM opportunities Ahlin has promoted include RE24/7/365 (pyramid scheme), EmSquared (Mannatech spinoff), Malibu Mastermind (collapsed investment scheme), YouGetPaidFast (cash gifting), Infinity2Global (Ponzi scheme whose owner is being pursued by the FBI) and Rocket Cash Cycler (pyramid scheme).

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