Cool Naira Review: Pyramid scheme targets Nigerian recession
The Cool Naira website identifies Paul Samson as founder of the company.
Samson purportedly founded Cool Naira through the company G-Cyber Technologies back in March.
Samson (right) claims G-Cyber Technologies is incorporated in Nigeria, however I was unable to independently verify this (the Corporate Affairs Commission search website was down at the time of publication).
G-Cyber Technologies’ own Facebook page suggests the company is a web hosting reseller.
Cool Naira appears to be Samson’s first MLM venture.
Read on for a full review of the Cool Naira MLM opportunity. [Continue reading…]
Carlos Costa facing jail time for $1.3 million dollars in tax fraud
Tax authorities in Brazil aren’t done investigating TelexFree, with the latest seeing Carlos Costa sued for $1.3 million dollars in tax fraud. [Continue reading…]
Final judgement granted against all Zeek top net-winners
Following Final Judgement granted against three of Zeek Rewards’ top thieves, the same has now been granted against all named net-winners in the Receiver’s clawback lawsuit. [Continue reading…]
Bit Cycler Review: Three queue cycler Ponzi positions
There is no information on the Bit Cycler website indicating who owns or runs the business. Infact, at the time of publication the site is nothing more than a login page.
The Bit Cycler website domain (“bitcycler.com”) was registered on the 6th of October, 2016. Francisco Gomez of 3fera is listed as the owner.
3fera appears to be web design and marketing company based out of Spain.
The official Bit Cycler Facebook group lists three admins; Tonatiuh Cordero, Antonio Solis and Armando Castillo.
Presumably one, two or all three of these individuals are running Bit Cycler. I wasn’t able to conclusively verify who.
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…]
FusionBit Review: Oldschool ebook library pyramid scheme
There is no information on the FusionBit website indicating who owns or runs the business.
The FusionBit website domain (“fusionbit.club”) was privately registered on November 30th, 2016.
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…]
MMM Nigeria suspends payouts for the rest of December
The disaster that is the Nigerian MLM underbelly scene continues, with news today MMM Nigeria has suspended withdrawals.
Yes, you’re reading that right. The same week Sergey Mavrodi purportedly goaded the Nigerian government about an MMM Nigeria collapse, it appears MMM Nigeria has… well, collapsed. [Continue reading…]
Matrix Madness Review: Two-tier matrix based cash gifting
There is no information on the Matrix Madness website indicating who owns or runs the business.
The Matrix Madness website domain (“matrixmadness.biz”) was privately registered on November 14th, 2016.
A link to a YouTube marketing video on the Matrix Madness website is hosted on an account belonging to LaCrisha Wallace.
Wallace (right) is also an admin in a Facebook group named “Pre Launch Madness”, linked directly from the Matrix Madness website.
Other MLM opportunities promoted on Wallace’s YouTube channel include Residual Income in a Box and Virtual County Fair.
As per her Facebook profile, Wallace appears to commit herself to various MLM underbelly “programs” each month:
My December programs will be Matrix Madness, CyclerKing and Reverse Profits!! Whose excited??
I am!! Expected income for the month of December?? $50,000!!!
Read on for a full review of the Matrix Madness MLM opportunity. [Continue reading…]
Coin Forever Review: $50 in, $3150 out Ponzi cycler
There is no information on the Coin Forever website indicating who owns or runs the business.
The Coin Forever website domain (“coinforever.com”) was privately registered on November 22nd, 2016.
Further research reveals Coin Forever affiliates identifying serial scammer Luis Castillo as the owner, however I was unable to independently verify this information.
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…]
Hooker arrested after making off with OneCoin scammer’s stash
If the trend of single elderly European gentlemen attached to the MLM underbelly popping up in Asia left you thinking “hmmm”, rest assured for most of them it was purely a business decision.
…
Nah, just kidding. [Continue reading…]
Sergey Mavrodi trolls the Nigerian government?
MLM in Nigeria is a bit of a mess at the moment. The MLM underbelly has completely taken over and scamming is rampant.
On any given day of late BehindMLM’s filters are nuking spammy comments pushing the latest scam sweeping Nigeria. Sure enough the next day though there’s a new set of budding Nigerian marketers who think dropping their referral links anywhere and everywhere is a path to riches.
A declining economy, distrust of the government, hoards of gullible idiots and seasoned scammers who see them as easy pickings, has created the perfect storm of financial chaos over the last few months.
So much so has the situation gotten completely out of hand, that emboldened scammers are purportedly now directly trolling the Nigerian government. [Continue reading…]
