OneCoin warning issued by Austrian Consumer Protection
Accompanied by a visual representation of a thief stealing money, yesterday saw Austria’s Federal Ministry of Labour, Social Affairs and Consumer Protection issue a warning against OneCoin. [Continue reading…]
1×2 Marketing Suite Review: Ingreso Cybernetico feeder
1×2 Marketing Suite recently launched, with the company’s terms and conditions suggesting it is based out of Michigan in the US.
In a 1×2 Marketing Suite promotional video on the company website, Dwayne Golden introduces himself as CEO.
Golden (right) first popped up on BehindMLM’s radar in connection with Blue Bird Bids.
Blue Bird Bids launched in late 2012 and was a clone of the Zeek Rewards MLM penny auction Ponzi scheme.
By January 2013 the scheme was on the verge of collapse, amid claims auction bots were being used to generate false bids.
In 2014 Golden surfaced as the CEO of Ingreso Cybernetico.
Ingreso Cybernetico operate a five-tier matrix cycler. Affiliates pay $50 to $3500 for matrix positions, with recruitment of affiliates who do the same paying ROIs of up to $10,000.
Today Ingreso Cybernetico is still in operation, primarily targeting South American countries.
Read on for a full review of the 1×2 Marketing Suite MLM opportunity. [Continue reading…]
Money23 Review: $29 a month matrix recruitment
There is no information on the Money23 website indicating who owns or runs the scheme.
The Money23 website domain (“money23.com”) was registered on the 31st of January 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…]
TelexFree slapped with $130 million tax penalty
Following a ruling late last year certifying TelexFree a Ponzi scheme in Brazil, things have been pretty quiet down there.
From filings in the US cases, we know that Brazilian and US authorities are cooperating behind the scenes with their various investigations.
One of the Brazilian agencies investigating TelexFree is the IRS, who claim TelexFree’s owners owe them at least $130 million. [Continue reading…]
MMM Global Ponzi collapses, Sergey Mavrodi in hiding
The financial apocalypse is upon us, MMM Global has collapsed.
BehindMLM called it yesterday, the only reason a Ponzi scheme stops paying out is if there are banking issues or they run out of money.
MMM Global’s use of BitCoin rules out the former, so with investors not paid out for over a month the writing was on the wall.
What we didn’t know was just how soon after publishing our article MMM Global’s collapse would be confirmed.
In a message sent to investor’s backoffices a few hours ago, their worst nightmare has been confirmed. [Continue reading…]
Philippine SEC file second round of EmGoldex complaints
Attempts to quash EmGoldex and its various incarnations in the Philippines continue, with news of the SEC filing a second round of complaints. [Continue reading…]
MMM Global investors not paid for over a month
A Ponzi scheme will only stop paying investors on one of two conditions:
- investor funds run out or
- banking problems prevent the transfer of money within he scheme
On their website, MMM global proclaim:
There is no сentral account, where all the System money flows to (and where it can be easily stolen from :-)).
All the money is only on the banking accounts of the participants themselves!
That rules out the second condition, which leaves only one explanation as to why MMM Global haven’t been in over a month. [Continue reading…]
DOUBLE WHAMMY: Nerium sued by product supplier
Yesterday we reported on Dennis Windsor, co-founder of Nerium, suing the company for $22 million dollars.
Today we cover another lawsuit filed against Nerium, this time by their product supplier. [Continue reading…]
Co-founder sues Nerium for $22 million dollars
According to Dennis Windsor, back in 2009 Jeff Olson began discussing with him plans to launch two network marketing companies.
Windsor (right) claims to have been involved in MLM for over 36 years,
spending over 17 years in the field as a top distributor building large global sales organizations and over 19 years in Founder / Co-founder, Senior Executive and Senior Consultant roles helping to design, develop, launch, and manage Network Marketing Companies.
Of his 36 years in network marketing, 25 years were spent working with Jeff Olson across more than seven MLM companies.
Ongoing discussions between Windsor and Olson eventually resulted in Windsor leaving his Senior Vice-President position with VideoPlus.
From what I’ve been able to gather, Video Plus was a marketing production company that worked with MLM companies.
The first company Windsor and Olson launched as PTN Networking Marketing.
They worked on PTN for about a year, after which it was dropped in favor of developing a new company.
That company was Nerium, which launched in 2011.
Fast forward five years and Windsor’s employment with Nerium has been terminated. He’s now suing the company for copyright infringement and at least $22 million dollars. [Continue reading…]
SEC opposes Sloan’s $30,800 carve-out request
The SEC has filed an opposition to Faith Sloan’s request for $30,800.
In their April 4th filing, the SEC claim
Sloan filed a virtually identical motion on June 10, 2014.
The Court denied that motion on June 25, 2014. The Court should deny Sloan’s recycled motion as well.
The motion in question saw Sloan request $15,800 because she was ‘unable to pay for her food, her rent and her normal living expenses and will not be able to retain her attorney‘.
The motion was denied on the basis that the court had ordered ‘no “carve outs” (of money) would be issued to defendants who did not comply with orders to declare their assets to the SEC‘.
That was just shy of two years ago and despite Sloan since “considering” declaring her assets, nothing much has changed. [Continue reading…]
