The WCM777 Receiver has finally finished forensic accounting on investor losses.

Of the $90.8 million dollars paid in by WCM777 affiliates, $72.2 million are recorded losses and $18.6 million was paid out in ROIs.

The problem?

72,253 WCM777 affiliates had filed claims totalling $412 million in losses. [Continue reading…]

The Facebook postings purportedly showing off merchants accepting OneCoin as a payment method are rampant.

I’ve seen restaurants in Europe, car dealerships in Asia, take-out joints in Australia – all represented as merchants accepting OneCoin.

You as a OneCoin affiliate simply walk in, purchase whatever it is you wanted, flop down your cell phone and pay with OneCoin.

This, OneCoin investors claim, is proof that OneCoin is a legitimate cryptocurrency.

As with most things related to OneCoin, turns out it’s a bunch of baloney. [Continue reading…]

goDesana originally launched as Green Organics International in 2011 and are based out of Ohio in the US.

The company operates in the essential oils MLM niche and is headed up by Founder and CEO, Paula Scarcella.

The goDesana website domain was registered in 2013, suggesting this is when Green Organics International rebranded.

I did try to ascertain why Green Organics International rebranded as goDesana but came up blank.

Paula Scarcella’s Green Organics International executive bio claims she got involved in MLM back in the 1990s.

Over the past 20 years Paula discovered a disconnect between company owners and their distributors.

After experiencing for herself the lack of integrity and dishonesty from company owners she decided to start her own company based on honesty, integrity and transparency.

From her experience as a distributor, Paula saw that the average person needed help, support and the right tools to reach that same success she did.

Based on this philosophy she started Green Organics to help propel people into reaching their goals and dreams.

Prior to launching Green Organics International, Scarcella was an affiliate with Essante (health and wellness) and Ultra International (essential oils). Whether either of these companies is referred to in Scarcella’s bio above is unclear.

In 2010 Scarcella launched Cycle for Wealth, a $45 matrix cycler Ponzi scheme.

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

Last week OneCoin announced they were introducing a new €188,888 EUR “Supreme Trader” package.

On top of that they’ve now introduced a Super Combo package, coming in at a whopping €225,500 EUR. [Continue reading…]

A proposed $47 million dollar settlement in a pyramid scheme lawsuit, filed by disgruntled Nu Skin shareholders, has been approved.

Rather than fight the pyramid scheme allegations in court, Nu Skin will pay the shareholders $47 million dollars. Judge Parrish also awarded shareholders $13.6 million dollars in legal fees. [Continue reading…]

OneCoin’s use of shell companies is almost comical at this point.

As soon as one bank account is shut down, OneCoin opens up a new one in another country with a new shell company name.

Last month, after losing a Deutsche Bank account, OneCoin created an account in Italy under the name “Educamax Services SRL”.

That account was shut down within 24 hours of OneCoin announcing it. A few weeks later OneCoin announced they’d opened up a new account in Hong Kong, using the name “Foshan Everbright Import & Export Company Limited”.

An eagle-eyed investigator over at TruffaCoin has discovered a connecting link between the two companies. [Continue reading…]

It is increasingly looking like Roman Balanko has made off with $13.1 million dollars of stolen Zeek Rewards Ponzi funds.

Last we checked in it appeared Balanko had lied to the Zeek Receivership about his ownership of PaymentWorld Hong Kong.

In filed sworn declarations, Balanko claims he was the CEO of PaymentWorld LLC in the US and had no direct control over PaymentWorld Limited in Hong Kong.

Balanko claims there’s a distinction between Payment World LLC and PaymentWorld Limited.

PW-USA and PW-HK operated as two distinct, independent entities without any authority to act on behalf of or control the other.

This is important because, if true, it separates PaymentWorld LLC in the US and Balanko from the $13.1 million dollars the Zeek Receiver is trying to recover.

Balanko maintains that the $13.1 million in question was invested with Rex Ventures Group, transferred to Payza who sent the funds to PaymentWorld SRL in Moldova.

After the SEC busted Zeek Rewards, PaymentWorld SRL transferred the $13.1 million to Tusar Bank in Russia.

Balanko maintains that PaymentWorld LLC only oversaw the transaction and at no time had direct control over the funds.

The problem for Balanko is that in a leaked 2012 Service Agent agreement he signed off as the sole Principal of PaymentWorld Limited (Hong Kong).

Another representation Balanko has made is that PaymentWorld LLC only ever had an agreement with PaymentWorld Limited.

At no time did PW-USA have a contractual relationship with either Victoriabank or Tusar Bank.

PW-USA only contracted with PW-HK, who in turn contracted with PW-SRL, who in turn contracted with Victoriabank.

As per a new leaked agreement seen by BehindMLM, this also appears to be a lie. [Continue reading…]

A year ago the Zeek Rewards Receiver sued disgraced Ponzi lawyer Gerry Nehra for $100 million.

Two months later Nehra settled with the Receiver for $100,000 and acknowledged Zeek Rewards was a Ponzi scheme.

In their case against TelexFree co-owner James Merrill, the DOJ have called Nehra up as a government witness.

In a motion filed late last week, the DOJ claim Nehra’s Zeek settlement is “not relevant to Nehra’s credibility”.

The regulator is requesting an order preventing Merrill from bringing up Nehra’s settlement at trial. [Continue reading…]

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

The BTCxCanada website’s “about us” page has a spiel that suspiciously sounds like MMM Global Ponzi cult garbage:

This is a community of ordinary people, selflessly helping each other, a kind of the Global Fund of mutual aid. This is the first sprout of something new in the modern soulless and ruthless world of greed and hard cash.

The goal here is not the money. The goal is to destroy the world’s unjust financial system. Financial Apocalypse!

Before you join, be sure to be acquainted with our IDEOLOGY!

The BTCxCanada website domain was registered on the 13th of July 2016, however the domain registration is set to private.

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…]

Open HYIP refer to themselves as an “MLM Investment Club”.

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

The Open HYIP website domain (“openhyip.net”) was registered on the 21st of September 2016, however the domain registration is set to private.

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…]