3FO operates in the MLM cryptocurrency niche. The company operates from the domain “3fo.ai”, privately registered on June 25th, 2025.

3FO is based out of Dubai and headed up by serial fraudster Shavez Ahmed Siddiqui, aka Shavez Anwar.

Anwar (right) was a central figure in Sam Lee’s collapsed HyperFund Ponzi scheme.

After HyperFund collapsed, Lee and Siddiqui continued to defraud consumers through HyperOne (Siddiqui was HyperOne’s “Operation Head of Asia Pacific”).

After HyperOne Lee and Siddiqui teamed up on StableDAO, essentially HyperTech Group 2.0 (HyperTech was the parent company of Lee’s HyperCapital and HyperFund Ponzis).

Through StableDAO Lee launched StableOpinion, VidiLook (rebooted as ViviLook 2.0 and then again as VEND), WeAreAllSatoshi, Satoshi Math Club and Boomerang Trade (aka Boomerang Arbitrage Trading).

At some point Lee had a falling out with Siddiqui, prompting Siddiqui to take over We Are All Satoshi (WAAS) as his own Ponzi project.

Following multiple failed WAAS reboots, Siddiqui launched Lquid Finance and Lquid Pay.

BehindMLM never formally reviewed Lquid Pay but as per research by Danny de Hek, the scheme sold debit cards tied to Visa’s network.

Commissions were purportedly paid on affiliate recruit, residual commissions and funneling investors into other BTCC token scams.

From 3FO’s own website, these include Deobank, Protocol Yield, LFG and DeFi Fund Access.

Multiple regulatory fraud warnings have been issued in relation to Siddiqui’s various schemes;

• California issued a We Are All Satoshi securities fraud desist and refrain order in September 2023;
• New Zealand issued a We Are All Satoshi and Boomerang Trade fraud warning in August 2024;
• Quebec issued a We Are All Satoshi securities fraud warning in November 2024;
• New Zealand issued a Lquid Finance securities fraud warning in May 2025; and
• Australia issued a Lquid Finance and LquidPay securities fraud warning in June 2025

Due to the proliferation of scams and failure to enforce securities fraud regulation, BehindMLM ranks Dubai as the MLM crime capital of the world.

BehindMLM’s guidelines for Dubai are:

1. If someone lives in Dubai and approaches you about an MLM opportunity, they’re trying to scam you.
2. If an MLM company is based out of or represents it has ties to Dubai, it’s a scam.

If you want to know specifically how this applies to 3FO, read on for a full review. [Continue reading…]

Sevinity operates in the nutritional supplement MLM niche.

A corporate address isn’t provided on Sevinity’s website. As per Sevenity’s website Terms of Use however;

All arbitration proceedings will be held in Collin County, State of Texas.

Heading up Sevenity we have three co-founders; Kevin Fournier, Danelle Meoli and Ken Downey:

Kevin Fournier teamed up with Ray Faltinsky to launch FreeLife in 1995. In late 2013 Fournier and Faltinsky teamed up again to launch L’dara International.

In 2017 FreeLife and L’dara International were sold off to Youngevity.

Fournier resurfaced in 2021 as President of CTFO, aka Changing the Future Outcome.

Danelle Meoli popped up on BehindMLM radar in 2022, as co-founder of Awakend.

There’s no sugarcoating the disaster Awakend was and Meoli’s role in it.

Next to the quickly forgotten about NFT gimmick, Awakend’s biggest problem pertained to licensing of its flagship Zenith supplement. Amid ongoing litigation, Meoli took to social media in October 2022 to spread misinformation.

Sometime after that Meoli disappeared, with Awakend going on to collapse in June 2024.

I don’t believe Meoli ever publicly addressed what happened to Awakend or her role in it.

Ken Downey’s LinkedIn profile reveals a corporate history in circuit boards (2010 to present) and plastics (2019 to present). As far as I can tell Downey doesn’t have MLM executive experience.

Read on for a full review of Sevenity’s MLM opportunity. [Continue reading…]

Final judgment has been handed down against three defendants in the ongoing TelexFree class-action.

On August 7th Judge Gorton issued a non-descript summary judgment order.

On August 27th Judge Gorton issued an order “in favor of the Estate of Jeffrey Babener, Steven Labriola, Nehra Law Office, Gerald Nerha (individually) and Gerald P. Nehra Attorney at Law, PLLC.

The two orders are related and left me confused: Why were settlements resolved through summary judgment granted in favor of the defendants?

Turns out that was an error, rectified by the court on August 27th after a Class Plaintiff pointed the error out. [Continue reading…]

On January 6th, 2021, Lisa Anne Boisselle joined a group of insurrectionists and stormed the US Capitol.

A month later Boisselle began defrauding consumers through promotion of MLM crypto Ponzi schemes. Despite mounting losses for her victims, as of 2025 Boisselle is still allegedly promoting scams.

Now, the Arizona Corporation Commission has ordered Boisselle to stop. [Continue reading…]

Following a bench trial back in February, Michael Rutherford has prevailed against defendants Brian Underwood and Pruvit.

In a September 16th filed Findings of Fact, the court ruled Pruvit violated a previously reached settlement with Rutherford. [Continue reading…]

The North American Securities Administrators Association (NASAA), has urged the US House Committee on Financial Services not to weaken state securities regulators.

Several MLM related fraud cases, initiated by state regulators in the US, are cited in support.

NASAA is made up of US state regulators, as well as their equivalents in the District of Columbia, Puerto Rico, the US Virgin Islands, Guam, Canada and Mexico. [Continue reading…]

The North American Securities Administrators Association (NASAA), has cited thirteen GSPartners enforcement actions as examples of US state regulators “fighting fraud”. [Continue reading…]

Grokr Exchange fails to provide ownership or executive information on its website.

Grokr Exchange operates from six known website domains:

1. grokrwaid.com – privately registered on April 19th, 2025
2. grokr-lssc.com – privately registered on May 23rd, 2025
3. grokrmail.com (domain disabled, used for support email) – privately registered on February 19th, 2025
4. grokrx3wf.com (already abandoned) – privately registered on August 24th, 2025
5. grokrex88.com (already abandoned) – privately registered on April 19th, 2025
6. grokr88.com (already abandoned) – privately registered on April 30th, 2025

In an attempt to appear legitimate, Grokr Exchange touts SEC registration of Grokr Exchange Ltd.

Grokr Exchange Ltd. is a Colorado shell company, registered by “Ernest Dewey May Jr.” on May 13th, 2024.

The corporate address provided for Grokr Exchange Ltd. appears to be a random unrelated office block in Denver.

Ernest Dewey May Jr. appears to be a fictional identity used to register numerous suspicious looking companies.

We’ll revisit Grokr Exchange Ltd.’s purported SEC registration in the conclusion of this review

Grokr Exchange also goes by Wealth Win Win Fund, or 3WF:

Note the above official Wealth Win Win Fund FaceBook group is managed from Cambodia:

This is indicative of Chinese crime groups operating out of Cambodia (see review conclusion for more information).

Further supporting this is Grokr Exchange’s web assets being hosted on Alibaba Cloud:

Grokr Exchange has already attracted the attention of financial regulators:

• Germany’s BaFin issued a Grokr Exchange securities fraud warning on June 11th, 2025
• Austria’s FMA issued a Grokr Exchange securities fraud warning on June 13th, 2025

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…]

BitNest fails to provide ownership or executive information on its websites.

BitNest operates from eight known website domains:

1. bitnest.me – registered in April 2024, private registration last updated on June 5th, 2025
2. bitnest.finance – privately registered on October 23rd, 2024
3. bitnest.ac – privately registered on July 15th, 2025
4. bitnest.la – privately registered on July 15th, 2025
5. bitnest.is – privately registered on July 15th, 2025
6. bitnest.cx – privately registered on July 15th, 2025
7. bitnest.ad – registered through a private Singapore address on July 15th, 2025
8. bitnest.so – privately registered on July 15th, 2025

BitNest having so many domains is an red flag. It is indicative of a scam anticipating domain closures.

As of August 2025, SimilarWeb was tracking ~115,000 monthly website visits to BitNests’ primary “.me” domain”.

The majority of BitNest website traffic originates from Italy (18%), Germany (16%), the US (12%), the Netherlands (9%) and Ukraine (8%).

If we look at BitNest’s website source-code, we find Chinese:

This suggests whoever is running BitNest has ties to China. Chinese scammers often operate from outside of China in countries like Singapore.

Research published on the website BitNest Trust suggests BitNest is a reboot of Yunus Loop:

BitNest Truth claims the above post to the official BitNest Telegram channel was edited in June 2025 to remove reference to Yunus Loop.

Yunus Loop was an MLM crypto Ponzi launched in last 2022. BitNest Truth reports Yunus Loop collapsed in early 2024, right before BitNest launched.

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…]

Shao Bank has received a desist and refrain fraud order from California’s Department of Financial Protection and Innovation (DFPI).

As per DFPI’s August 13th Shao Bank order; [Continue reading…]