OneCoin lose last bank account, unable to accept wires
Unable to use its own company name, OneCoin had been opening up banks with shell company accounts every few weeks.
As fast as OneCoin could open up the accounts, it didn’t take long for them to trip money laundering filters and be shut down for fraud.
Here at BehindMLM we’ve been tracking these account closures for some time. Over the last few months OneCoin’s accounts have been shut down with increasing frequency.
New OneCoin accounts opened up in October and November have lasted only days before it was shut down.
Throughout most of this OneCoin has always been able to fall back on its Bank of Africa account. Held in Tanzania, the account remained open despite over a dozen closures in different countries.
Today Bank of Africa finally took action and shut down OneCoin’s account.
As it stands, OneCoin cannot accept bank wires from new and existing affiliates. [Continue reading…]
Crush Global Review: The ghost of WakeUpNow?
Crush Global launched in September of 2016 and are based out of Kentucky in the US.
A marketing video on the Crush Global website identifies Josh Henderson as founder and CEO of the company.
Josh Henderson (full name John S. Henderson, right) is the CEO and Founder of Lightyear Wireless’ MLM division, Lightyear Network Solutions.
Lightyear Network Solutions was founded in 1997.
In 2000 Lightyear Wireless changed its name to Lightyear Communications.
In 2002 Lightyear Communications went bankrupt. A year later in 2003 all Lightyear Communications assets were transferred over to Lightyear Network Solutions.
The company continued to operate as a wireless reseller MLM opportunity. The company name Lightyear Wireless became synonymous with Lightyear Network Solutions.
As “Sherman Henderson”, prior to Lightyear Network Solutions Henderson was CEO of Unidial Communications.
As I understand it, Unidial Communications was the predecessor for Lightyear Network Solutions.
In 2013 Lightyear Network Solutions was sold off to Birch Communications for $22 million.
In 2011, as Josh Henderson, Henderson founded Dynastar Energy.
According to a 2011 press-release, Dynastar Energy was
positioning itself as the premier leader with a direct sales model to acquire energy services customers initially in Texas, Pennsylvania and New York.
Dynastar Energy doesn’t seem to have gone anywhere and was quietly wound down in subsequent years. Henderson does not list DynaStar Energy on his LinkedIn profile.
Henderson’s cites his involvement in Crush Global dating back to March 2015, suggesting corporate planning for the company began long before its launch this year.
Read on for a full review of the Crush Global MLM opportunity. [Continue reading…]
FTC return $3.7 million to FHTM victims
For most MLM underbelly victims, they’re don’t get anything back.
Fortunately for Fortune Hi-Tech Marketing victims, regulators intervened before it was too late. [Continue reading…]
3×2 Core Review: Two-tier bitcoin cash gifting
There is no information on the 3×2 Core website indicating who owns or runs the business.
The 3×2 Core website domain (“3x2core.com”) was registered on the 8th of November 2016, however the domain registration is set to private.
Update 27th November 2016 – BehindMLM’s The Dollar Sharing review has revealed Krzysztof Tymoteusz is the owner of 3×2 Core. /end update
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…]
My 1 Dollar Business Review: Savings Highway rebooted
The My 1 Dollar Business identifies Steve Gresham as Founder of the business.
According to the My 1 Dollar Business website domain registration, Gresham is based out of Georgia in the US. This is presumably where My 1 Dollar Business is being operated from.
Gresham (right) first appeared on BehindMLM’s radar in 2012, as the founder of Savings Highway.
Savings Highway was a matrix-based recruitment scheme. The company only sold monthly affiliate memberships, with Savings Highway affiliates paid to recruit new affiliates.
Alexa statistics for the Savings Highway website suggest the scheme was pretty dormant throughout 2016. The collapse of Savings Highway has likely prompted Gresham to launch My 1 Dollar Business.
Read on for a full review of the My 1 Dollar Business MLM opportunity. [Continue reading…]
My Advertising Pays warning issued by Maltese regulator
As My Advertising Pays gears up to abandon Europe and focus on scamming people in Asia, the European fallout has begun.
On the 10th of November the Malta Financial Services Authority issued a warning concerning My Advertising Pays. [Continue reading…]
SEC file for USFIA summary judgement, Steve Chen opposes
On October 26th the SEC filed for summary judgement against USFIA and owner Steve Chen.
Chen responded in opposition to the SEC’s filing on November 7th.
Both filings are pretty long, coming in at thirty and twenty-six pages respectively.
Below I’ve separated both filings into headers, with my own conclusion at the end. [Continue reading…]
MathINV Review: 175% Ponzi ROI every 70 days
There is no information on the MathINV website indicating who owns or runs the business.
On their website MathINV claim to be “working with” CNPJ Individual Entrepreneur, a business purportedly incorporated in Brazil.
The name “Mario Sergio Bittencourt” appears on a Brazilian certificate of incorporation.
Further research reveals the official MathINV has one admin, .
Bittencurt’s profile cites his location as Rio de Janeiro in Brazil. Other than a newspaper clipping from October 2nd and shared posts, there is no content on the Matheus Bittencurt profile.
In the MathINV Terms and Conditions, the company refers to itself as “Group MathBitte Investments”.
The MathINV website domain (“mathinv.com”) was registered on the 27th of October, 2016. Mario Sergio Bittencourt is listed as the owner, with an address in Rio de Janeiro, Brazil also provided.
Possibly due to language barriers, I was unable to find any further information Bittencourt (Bittencurt), including his specific role within MathINV.
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…]
John Wuo fined $2000 by FPPC (USFIA case updates)
It wasn’t long into researching BehindMLM’s USFIA review that came across photos of John Wuo with USFIA management.
Wuo was an elected government official of the City of Arcadia, California, so his potential involvement in USFIA was concerning.
As USFIA’s presence continued to grow in Arcadia, residents began to question Wuo’s involvement in the scheme.
Less than a week after our published review, Wuo fronted local Arcadia media and denied any involvement in USFIA.
Speaking to the Arcadia Weekly, at the time Wuo claimed
he has no financial interest in and hasn’t received any compensation from the companies connected to Gemcoin, nor is he a Gemcoin investor.
The SEC shut down USFIA for being a $32 million dollar Ponzi scheme last September.
Despite initially ignoring calls for his resignation, John Wuo resigned from the Arcadia City Council on October 7th, 2015.
The day before Wuo’s resignation, California’s Fair Political Practices Commission confirmed it was investigating Wuo for potential violations of the Political Reform Act.
Pertaining to Wuo’s involvement in USFIA, the Political Reform Act
prohibits public officials from participating in governmental decisions affecting their “financial interests” and requires certain public officials to disclose certain assets and income.
The FPPC’s investigation was spurred by an official complaint filed by Arcadia resident, David Arvizu.
In the months leading up to the SEC’s shutdown of USFIA, Arvizu spear-headed public critcism of Wuo’s ties to USFIA at Arcadia City Council meetings.
On November 7th, 2016, the FPPC sent David Arvizu notice that their investigation into John Wuo had been concluded. [Continue reading…]
2×2 Funds Review: 2×2 matrix bitcoin cash gifting
There is no information on the 2×2 Funds website indicating who owns or runs the company.
The 2×2 Funds website domain (“2x2funds.com”) was registered on the 7th of November 2016, however the domain registration is set to private.
Update 27th November 2016 – BehindMLM’s The Dollar Sharing review has revealed Krzysztof Tymoteusz is the owner of 2×2 Funds. /end update
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…]
