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

The eDigital Wealth website domain (“edigitalwealth.co”) was registered on the 14th of March 2016, however the domain registration is set to private.

Further research reveals eDigital Wealth marketing videos featuring Steven Seppinni (right).

Seppini is credited with designing eDigital Wealth’s compensation plan. Seppinni refers to eDigital Wealth in the possessive, suggesting he owns the company.

Steven Seppinni first popped up on BehindMLM’s radar as CEO and Founder of Malibu Mastermind.

Malibu Mastermind launched in early 2014 and marketed monthly online marketing training subscriptions.

Malibu Mastermind flopped shorty after launch and was relaunched as Prosper Everyday earlier this year in February.

A visit to the Prosper Everyday website reveals a parked domain, suggesting the company didn’t last long.

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

As expected, a response in opposition to a preliminary injunction against Traffic Monsoon and Charles Scoville is pretty much more of the same.

The Court should deny the SEC’s motion in its entirety for more fundamental reasons: AdPacks are not “securities;” AdPack buyers are not and were not “investors;” and Traffic Monsoon is not a “Ponzi Scheme.”

A new argument not previously raised however, suggests the SEC should abandon Ponzi regulation if the majority of scamming takes place outside of the US. [Continue reading…]

The ruse behind OneCoin using newly invested funds to pay off existing investors is that the company sells cryptocurrency education.

This education is delivered in the form of lengthy PDF files, filled with content either copied from third-parties with no attribution or loosely rewritten.

Upon quizzing a random selection of OneCoin investors as to the contents of the cryptocurrency education they supposedly bought, you’d likely get an equally random selection of blank stares.

Despite OneCoin’s token efforts to enforce pseudo-compliance to push the “we sell education” line though, every now and then the truth simmers to the surface.

Today that truth is brought to you courtesy of Kaj Naparstok. [Continue reading…]

There is no information on the Simple Simon’s System website indicating who owns or runs the business.

The Simple Simon’s System website domain (“simplesimonssystem.com”) was registered on the 13th of August 2016, however the domain registration is set to private.

The Simple Simon’s System website links to an official Facebook group. The sole admin of the Simple Simon’s System Facebook page is Rob McAtamney (right).

McAtamney is based out of Queensland, Australia. He first popped up on BehindMLM’s radar as the admin of the One Time Infinity Ponzi scheme in 2015.

In 2016 McAtamney has so far launched Cash Money Bucket (relaunched 2015 scam), 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. Cash Money Bucket was relaunched in July and appears to still be operational.

Read on for a full review of the Simple Simon’s System MLM opportunity. [Continue reading…]

Viral Crypto launched a week or so ago and name Randolph Taylor as admin of the company on their website.

Taylor is purportedly based out Italy, which is where Viral Crypto is being run from.

Taylor’s Viral Crypto corporate bio reveals he has “many years” experience within the MLM underbelly;

As an online entrepreneur working in this field for last many years. I am very enthusiastic, cooperative passionate to help other for make them popular online worker. And these was the causes of my dream comes true in shape of Viral Crypto.

I had faced hard experiences in other online field like in Rev Shares, PH programs, Affiliate Marketing, Online hops, Forex selling online and a host of other different kind of opportunities.

I would say here I was looking and finally I found it but still I was not satisfied and made lot of changes and amendments and I think I have created this what was people looking for last many years.

Beyond what is published on the Viral Crypto website, I was unable to independently verify if Randolph Taylor actually exists.

Alexa currently estimate that India is the largest source of traffic to the Viral Crypto website (46.8%).

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

Recyclix is an MLM opportunity that launched in late 2015.

Under the guise of generating revenue via recycling plastic, Recyclix solicits deposits of up to €100 EUR on the promise of a >100% ROI.

In reality the only source of revenue entering Recyclix is affiliate investment, making Recyclix a Ponzi scheme.

Earlier this year Russia and the Ukraine were primary sources of traffic to the Recyclix website. Italy has since emerged as a prime source of investment for the scheme, with the country currently making up an estimated 9.1% of traffic.

Italy is second only to Germany, who provide 9.6% of all Recyclix website traffic.

This has caught the attention of Italian regulator Commissione Nazionale per le Società e la Borsa (CONSOB), who on the 14th of September published the findings of an investigation. [Continue reading…]

In late May the TelexFree victim’s claim portal went live.

Since then “approximately 80,000 claims” have been filed by TelexFree victims.

The cutoff for victim claims is currently September 26th, however the Trustee now wants that date extended. [Continue reading…]

Back in late 2014 news broke that Nu Skin was under SEC investigation. At the time CEO Truman Hunt claimed he wasn’t aware of an investigation.

By mid 2015 Nu Skin acknowledged the SEC investigation existed, having purportedly only become aware of it in April.

Before we get into today’s settlement announcement, a recap of what the SEC’s investigation into Nu Skin was all about. [Continue reading…]

If Charles Scoville’s lengthy rants on Facebook are to be believed, Traffic Monsoon was not an investment opportunity.

Affiliates deposited $50 to receive website traffic, with absolutely no expectation they would eventually be paid more than they deposited. This despite Traffic Monsoon advertising a $55 ROI on every $50 deposit.

The picture Scoville paints is that of a united affiliate-base, content to wait and see how the SEC case against Traffic Monsoon plays out.

Inshallah, US securities law will be overturned, Ponzi schemes will be declared legal, the SEC case will be dismissed and Traffic Monsoon can continue to scam people through financial fraud.

Unfortunately two Traffic Monsoon affiliates have come forward to shatter Scoville’s fantasy, with separate lawsuits filed in the last 24 hours seeking over a half million dollars in damages. [Continue reading…]

On July 27th Mirosława Suchonia filed an inquiry with the Polish Ministry of Justice regarding OneCoin.

Suchonia sought comment on whether or not OneCoin was potentially breaching Poland’s banking laws.

On September 13th a response from Łukasz Piebiak, the Minister of Justice, was published on the Sejm (Poland’s lower house of parliament) website. [Continue reading…]