OneCoin are currently representing to affiliates in their backoffice that the value of OneCoin is €6.23 EUR.

If you’ve bought into the fantasy that centralized Ponzi points will ever be publicly traded, you’d expect one OneCoin to publicly trade for €6.23 EUR. Right?

Unfortunately, you’d be wrong. 1,411% wrong. [Continue reading…]

Q Sciences launched in 2013 and are based out of Utah in the US.

Heading up the company is Founder, President and CEO, Daren Hogge.

As per Hogge’s Q Sciences corporate bio;

In his 28 years in the network marketing industry, Daren Hogge has built a reputation as a dynamic leader with the ability to turn vision into reality.

Daren began his career as a CPA for Arthur Andersen LLP, where he served as a financial consultant to one of the founding companies in the network marketing industry.

It wasn’t long before the head of that company invited Daren to join the executive team as its Director of International Finance.

Daren later went on to become President, during which time the company opened new international markets and more than tripled its distributor force.

The company not named above is Nature’s Sunshine. Hogge (right) left the company in 2004.

Hogge went on to launch GoYin, which was sold off to Genesis Today in 2008. Hogge stayed on and, according to Lisa Young, a Q Sciences affiliate,

was able to guide this company into profitability in a very short period of time and sales grew every single month since the merger.

Genesis Today was relaunched as Genesis Pure in 2009, with Hogge serving as President up until 2012 (I couldn’t pinpoint the exact date). Q Sciences was launched a year later.

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

Back in April the TelexFree Trustee filed a host of clawback adversary proceedings against TelexFree insiders.

The Trustee was required to commence the Adversary Proceeding before the
Criminal Action could be resolved because the expiration of the Statute of Limitation relevant to these actions was approaching and was clearly going to expire before the Criminal Action was resolved.

However, in commencing these actions, the Trustee does not intend to interfere with the proper administration of the Criminal Actions nor prejudice the Government’s prosecution of those actions.

Now, in an attempt to rectify possible interference, the Trustee has filed for a stay on the clawback proceedings. [Continue reading…]

The “Paul Burks filing everything he can in order to delay proceedings” circus continues.

The latest sees Burks’ request an evidentiary hearing, pertaining to ‘the government’s seizure and handling of confidential and privileged communications‘.

Before we get into that though, a decision on Burks’ request for a jury questionnaire has been made… [Continue reading…]

Lindsey Duncan, founder of Genesis Pure, was last year fined $9 million by the FTC.

The fine was the result of Duncan’s

acts and practices mislead the public into believing that he is disseminating health advice or knowledge.

In January 2015, a court ordered Duncan to ‘pay the FTC five million within two weeks and a further four million over the next nine months‘.

That appears to have been paid on schedule, with the FTC today announcing over $9 million in checks have been sent out to consumers. [Continue reading…]

In what is either the mother of all coincidences, or proof Sanderley Rodrigues was running the scheme, the iFreeX website went offline within days of Rodrigues’ arrest for visa fraud.

Over a year since the iFreeX website went offline, authorities in Brazil have now acted on four search warrants connected to an investigation into the scheme. [Continue reading…]

According to the OneCoin website, the company pitches its transparency as a major selling point.

We are open and honest in our dealings.

OneCoin wants to make cryptocurrency transparent, and part of our financial culture and everyday life. By working proactively with governments and policymakers, OneCoin will help the industry achieve better regulation.

As more and more top investors are realizing however, OneCoin’s depiction of its own transparency is far from the truth. [Continue reading…]

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

The Travelor website domain (“travelor.me”) was registered on the 3rd of May 2015, with Yossi Cohen of “V. TRAVELOR LTD” listed as the owner.

The address provided in the Travelor domain registration belongs to DSIT Solutions. The same address is provided on the Travelor website.

On their website, DSIT Solutions claim to ‘develop and produce sonar and acoustic-based systems for the commercial, energy, defense, and homeland security markets.‘

Alexa currently estimate that 75.8% of traffic to the Travelor website originates out of Israel.

Furthermore, the Travelor Terms and Conditions state:

Arbitration shall be made by the Arbitrator at the place he sees fit, provided that it is no farther than 20 km from the city of Tel-Aviv.

Travelor affiliate marketing material identifies Yossi Cohen (right) as the owner and founder of the company. In his Facebook profile, Cohen cites himself as Travelor’s CEO and owner.

Possibly due to language barriers, I was unable to put together an MLM history on Cohen. His Facebook profile does identify him as CEO and owner of MBK, which appears to be a web development company.

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

Last month saw the collapse of Fort Ad Pays, a Ponzi scheme launched by Pedro Fort in 2014.

Now an investigation into Pedro Fort by El Pais has, among other things, uncovered Fort owns a $1.2 million dollar Miami mansion. [Continue reading…]

BNG International rose to prominence in early 2015, following the collapse of the Wish Club Ponzi scheme.

Modeled on the $1.8 billion dollar Ponzi scheme TelexFree, Wish Club itself was a reboot of the notorious Brazilian pyramid scheme, Blackdever.

By the time Brazilian authorities moved to shut Blackdever, only R$200,000 ($57,472) out of an estimated R$36.4 million ($10.4 million USD) pumped into the scheme was recovered.

Needless to say the overwhelming majority of Blackdever affiliates lost money in the scheme. [Continue reading…]