BC Academy first popped up on BehindMLM’s radar as a reboot of the uFun Club Ponzi scheme.

uFun Club investors were given positions in BC Academy, suggesting the uFun Club affiliate database had been sold to BC Academy’s owners.

At the time limited information about the BC Academy MLM opportunity was available. Since then further details about the company have emerged, such that I’m now able to put together a formal review.

BC Academy claim to be “authorized” by BookCoins to “distribute shares”.

BookCoins is a separate company, who claim to be ‘the world’s largest online bullion marketplace trading platform‘.

BOOKCOINS manages billions of tangible and intangible assets including silver – more than the silver reserves of some countries.

There is no proof of either of these claims provided on the BookCoins website.

The company itself appears to be made up of three entities; BOOKCOINS LLC in New York, BOOKCOINS FZE in Dubai and BOOKCOINS Pte. Ltd. in Singapore.

BookCoins LLC does appear to be a registered corporation in New York. The address provided for the business however is that of an agent.

Another address in New York provided on the BookCoins website is that of a PO Box. As such, whether BookCoins actually exists in the US other than in name only is unclear.

BC Academy meanwhile provide a corporate address on their website in Kuala Lumpur, Malaysia.

According to BC Academy’s compensation plan documentation, the company is headed up by CEO Wyson Chan (right). BookCoins is headed up by Chairman Alex Siaw.

According to a post on Chan’s Facebook page dated September 2015, he and Siaw are working together through Naim Indah Corporation Bhd.

Today is a remarkable day for my career path. After months of consideration, I finally decided to make this announcement here that I have invested into a public listed company in Malaysia, Naim Indah Corporation Bhd (NICORP 4464 Main board Bursa Saham) and will be taking up the position of ” Business Development Director” in the company, and also “Managing Director” position in one of the subsidiary company, Naim Indah Mutiara Capital Berhad.

NICORP’s group chairman, Dato Seri Alex Siaw and his partner, Dato Ion Lee will be my close working partners in driving and developing the company. I would also like to thanks them for giving me this opportunity to work together.

Chan appears to have signed on as BC Academy CEO in early 2016.

As for Alex Siaw, Naim Indah Corporation Bhd was tied to uFun Club mid last year.

The MO of this group is the registration of dozens upon dozens of companies, through which the actual owners of uFun Club, BC Academy, BookCoins (and anything else they’ve launched) are obscured.

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

The original argument of those who profited in the Zeek Rewards Ponzi scheme was that it wasn’t a Ponzi scheme.

After wasting $30,000 of Zeek Reward victim’s fund on an expert witness they hoped would prove just that, turns out the witness was unable to disprove Zeek Rewards was a Ponzi scheme.

Armed with this conclusion, late last month the Zeek Receiver filed for summary judgement against Zeek’s top net-winners.

In a July 29th response filing, the net-winner class attorney is now arguing Zeek’s top profiteers “provided value” to the $900 million Ponzi scheme and believed it was a legitimate business. [Continue reading…]

There is no information on the Fresh Ads Daily website indicating who owns or runs the business.

The Fresh Ads Daily website domain (“freshadsdaily.com”) was registered on June 22nd 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…]

iTravel Party launched just over a year ago. BehindMLM reviewed the opportunity in June 2015 and concluded it was a matrix cycler.

iTravel Party affiliates signed up for $299 and were paid $400 when they filled a 2×2 matrix via recruitment.

Our recent review of 2×2 Destiny, a feeder for iTravel Party, revealed the company has since changed its compensation plan.

Today we re-review iTravel Party’s compensation plan and find out how the travel-based opportunity has changed. [Continue reading…]

Cyber crime police in Hyderabad, India have apprehended the owner of 3G Coin.

BM Jagadeesha, was arrested in Bengaluru by the Cyberabad cyber crime team on July 16 and is now on remand.

Jagadeesha’s setup at 3G Coin was typical of many Indian-based MLM underbelly schemes. [Continue reading…]

Last we checked in the WCM777 Receiver was grappling with $386 million in claimed losses by WCM777 affiliates.

The problem is that, on paper, WCM777 only took in $86 million.

In March the Receiver requested additional time to further analyze and verify submitted claims.

As per a July 22nd filing that process is still underway, with the Receiver requesting more time to weed out bogus claims. [Continue reading…]

Earlier today a joint stipulation was filed by the SEC and Charles Scoville, requesting the upcoming August 5th preliminary injunction hearing be rescheduled.

The parties also requested the current TRO in place be extended until the rescheduled hearing. [Continue reading…]

There is no information on the MyG21 website indicating who owns or runs the business.

The MyG21 website domain (“myg21.com”) was registered on the 20th of September 2011. Pietro Rocca is listed as the owner of the domain, with an address in London, UK also provided.

Further research reveals this address actually belongs to Regus, who sell virtual office space.

This suggests that MyG21 exist in the UK in name only.

I wasn’t able to find any information Pietro Rocca in conjunction with MyG21. His role within the company is unclear.

Most of the promotional material available for MyG21 is in Italian. Alexa also estimates that 80% of traffic to the MyG21 website originates out of Italy.

This strongly suggests that whoever is running MyG21 is actually based out of Italy.

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…]

Cash Money Bucket was launched just under a year ago by Robert McAtamney.

McAtamney first popped up on BehindMLM’s radar as the admin of the One Time Infinity Ponzi scheme. In addition to Cash Money Bucket, McAtamney has also launched 3to600 (February 2016) and VIP Promoters Club (April 2016).

Both 3to600 and VIP Promoters Club were matrix cycler Ponzi schemes that collapsed shortly after launch.

The Cash Money Bucket website currently advises the scheme is again in prelaunch, with a reboot scheduled to go live on July 31st.

Has Cash Money Bucket changed, or is Robert McAtamney launching yet another matrix cycler Ponzi? [Continue reading…]

Contradicting Charles Scoville’s insistance that he’s negotiating directly with the SEC and that everything is fine, yesterday the regulator filed an ex-parte motion requesting the appointment of a Receiver.

The SEC’s motion, filed on July 27th, reaffirms the regulator’s stance that Traffic Monsoon is a Ponzi scheme. [Continue reading…]