Back in November we covered BK Boreyko wanting to inject $500,000 into Vemma.

The money was to be raised via the selling off of a 25% stake in AZPACK Properties, LLC, a real-estate investment company.

As part of the preliminary injunction currently in place, Boreyko is prohibited from selling off any real-estate assets.

Boreyko wasn’t selling real-estate per-say, but his stake in AZPACK Properties, LLC was tied to investment in real-estate properties.

Citing an “abundance of caution” and anticipation of an objection by the FTC, who refused to ‘stipulate to the transaction’, Boreyko filed a motion seeking approval from the court.

We’ve now learnt that the FTC does indeed oppose Boreyko’s proposal, with the finer details of their objection suggesting a potentially dire financial situation. [Continue reading…]

The TiiPowerMatrix homepage is basically a great big sales pitch, signed off on by “Nichole Roberts”.

Roberts’ exact role within TiiPowerMatrix isn’t disclosed, but with her name appearing on the homepage to welcome visitors to the site, it is presumed she is running things.

Curiously, the TiiPowerMatrix domain registraton lists “Nichole Francique” as the owner, suggesting Roberts (right) goes by multiple aliases.

The address used to register the TiiPowerMatrix domain meanwhile appears to be that of a fake address in Grenada.

According to Roberts’ LinkedIn profile, she is based out of Ontario in Canada. Why a bogus address in Grenada appears in the TiiPowerMatrix domain registration is unclear.

On her website “millionairesuccesswithnicky.com”, Robert’s claims to be ‘a successful Recruiter for 60SMZ and Success Assurance.‘

Success Assurance appears to be some sort of defunct Philippines-based recruitment scheme, with “60SMZ” referencing 60 Second Millionaire.

60 Second Millionaire, also run out of the Philippines, was a recruitment scheme launched by Tracy Davison in early 2014.

The scheme saw affiliates paid to recruit new affiliates, with Davison announcing its collapse a few weeks ago.

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

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

The Pledge Xchange website domain (“pledgexchange.com”) was registered on the 14th of April 2015, with “Precious Pledges Society” listed as the owner. An address in Madhya Pradesh, India is also provided.

As per the Precious Pledges Society website;

Precious Pledges Society is a 13 year old International charitable organization in India.

We are an organization of like minded charitably oriented individuals. We are entrepreneurs, artists, teachers, students, and others from every imaginable background.

ThePrecious Pledges Society website does not reveal who is behind the company.

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…]

Founded by uFun Club scammers Warren Eu and Liew Kok Hong, uMatrin sought to replicate uFun Club’s Ponzi model through “bizpoints”.

What with Thailand shutting down uFun Club though, uMatrin never really took off.

Now in 10-Q form filed with the SEC, uMatrin reveal the extent of their financial losses to date. [Continue reading…]

A far cry from the $100 million the Receiver initially sued Gerry Nehra for, a motion filed yesterday reveals a proposed $100,000 settlement.

$100,000 represents just 0.1% of the initial damages sought, with the Receiver signing off on the figure because, purportedly, Nehra and Waak

have already spent all or a substantial portion of the payments they received from RVG and have represented to the Receiver that they have limited financial resources and are not able to fully pay the damages claimed.

Even with the expenditure of additional funds to obtain a judgment there is not a likelihood of a materially increased recovery for the eventual distribution to the Zeek victims.

Turns out repeatedly signing off on the legitimacy of Ponzi schemes that defraud victims out of hundreds of millions of dollars is bad for business. But hey, what do I know – I’m not a lawyer. [Continue reading…]

For his role in scamming Zeek Rewards victims, September 2014 saw Darryle Douglas his with a $2.2 million dollar default judgement.

Rather than pay back the victims he stole from though, Douglas sought to further profit by attempting to launch Auction Attics. Douglas professed he was going to pitch Auction Attics to individuals on an authorized copy of the Zeek Rewards affiliate database.

Douglas’ antics  didn’t escape the notice of the Zeek Receiver, who filed a motion requesting the court compel Douglas to hand over the Zeek database he planned to market to, submit to a deposition and turn over requested financial records.

That was in October, with Judge Mullen on the 3rd of November ordering Douglas to appear at a hearing on December 3rd. At the hearing, Douglas was to explain why he shouldn’t be held in contempt for not following the court’s previous order.

The December 3rd hearing came and went… and according to an order issued on December 10th, Douglas was a no-show. [Continue reading…]

BehindMLM first reviewed Mannatech back in 2011.

Key areas of improvement I identified were the headache-inducing complexity of Mannatech’s compensation plan, mandatory affiliate autoship and high start-up costs ($3800!).

Earlier this year a Mannatech affiliate left a comment on our review, advising that there was no longer a $3800 affiliate membership.

The compensation plan has been changed so a lot of what you talk about (star bonuses for example) are gone.

Today we take a look at what’s changed over at Mannatech since 2011. [Continue reading…]

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

The PIF Explosion website domain (“pifexplosion.com”) was registered on the 18th of August 2015, 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…]

Despite the WCM777 victim claims portal opening up a few months ago in September, the Receiver has revealed that investor response has thus far been “tepid”.

Reasons cited by the Receiver for the lack of victim claims include:

• the lack of a complete or trustworthy company database
• the location of many investors outside the United States
• the fact that a significant number of investors gave their money to other individuals who pooled the funds with those of other investors before investing and
• the issuance and trading of (Ponzi) “points”

All of which prompted the Receiver to seek an extension to the claim deadline, which is currently December 24th, 2015.

Following a number of actions by the Receiver to increase the amount of claims filed, ‘as of November 27, 2015, approximately 11,900 claims had been received‘. [Continue reading…]

Trudy Gilmond was one of the top earners in the Zeek Rewards Ponzi scheme.

For her efforts, Gilmond was named a net-winner and was sued by the court-appointed Zeek Rewards Receiver.

The Receiver sought $1.7 million from Gilmond, which would see her return all of the money she stole from investors.

Gilmond responded to the Receiver’s lawsuit with a motion to dismiss, a demand for $140,000 (plus interest) and payment of court costs.

Gilmond’s motion to dismiss was denied, with the counter-claims against the Receiver dismissed shortly after.

In April of this year the Receiver filed for default judgement against Gilmond, with a $2.1 million dollar judgement granted in May.

Separately, the SEC has now filed its own lawsuit against Gilmond. [Continue reading…]