Crypto Wealth Fund Review: Invest $500,000 and make 17% a week?

Red Flags Wave High Around Crypto Wealth Fund

There is no information on the Crypto Wealth Fund website indicating who owns or runs the business. The Crypto Wealth Fund website (“cryptowealthfund.com”) was privately registered on November 2nd, 2016. The official Crypto Wealth Fund Facebook group lists one admin, Ahmad Shiekh. The Ahmad Shiekh account appears to be fake, having only started posting (mostly [Continue reading…]

Source: Crypto Wealth Fund Review: Invest $500,000 and make 17% a week?

Read The Full Article @ #BehindMLM

Zeek Receiver proposes plan for net-winner class clawbacks

Last November Summary Judgement was granted against Zeek Rewards’ net-winner class in the US. The Zeek Receiver has been working on a plan to claw back illegitimate earnings from over 9000 net-winner affiliates. On January 17th the Receiver submitted a proposal to establish how much each Zeek Rewards net-winner will have to pay back. This [Continue reading…]

Source: Zeek Receiver proposes plan for net-winner class clawbacks

Read The Full Article @ #BehindMLM

MMM Nigeria opens a day early, marketing ploy?

Behind MLM Reports: MMM Nigeria Reports They Are Reopening

Following its collapse last month, MMM Nigeria suspended affiliate withdrawals and announced they’d reopen on January 14th. On January 13th MMM Nigeria did in fact reopen. Sergei Mavrodi purportedly boasted they’d done so because of the ‘hysteria raised by the authorities and the mass media around MMM‘. Funny how according to MMM Nigeria authorities and media [Continue reading…]

Source: MMM Nigeria opens a day early, marketing ploy?

Read The Full Article @ #BehindMLM

Non-US Zeek victims may be getting wire transfers

To date the Zeek Receivership has paid out on claims to over 100,000 Zeek Rewards victims. This includes victims both in and out of the United States. As defined in the court-approved distribution plan, victims distribution payments have been made via check. Unfortunately for some non-US victims, they have been unable ‘to locate a financial institution [Continue reading…]

Source: Non-US Zeek victims may be getting wire transfers

Read The Full Article @ #BehindMLM

Jeunesse lawsuit against Darren Jensen referred to mediation

In a lawsuit filed by Jeunesse on January 8th, the company accused former executive Darren Jensen of raiding. Jeunesse also accused Jensen of using Jeunesse’s product formulas, pricing strategies, cost of goods sold, marketing plans, suppliers, vendors and manufacturers, to develop a new product for LifeVantage. Jensen was President of Jeunesse until he terminated his employment [Continue reading…]

Source: Jeunesse lawsuit against Darren Jensen referred to mediation

Read The Full Article @ #BehindMLM

Reddit reacts to “bullshit scam” OneCoin

The Reddit Bitcoin subreddit has 173,813 subscribers. It’s a hub of activity for all things bitcoin, with ten or more topics published every hour. Up for discussion is of course bitcoin, along with the technology behind it. /r/bitcoin is a subreddit devoted to new information and discussion about Bitcoin and its ecosystem. What I’m getting [Continue reading…]

Source: Reddit reacts to “bullshit scam” OneCoin

Read The Full Article @ #BehindMLM

Swedish police launch preliminary OneCoin investigation

In late January news broke that the Swedish Gaming Board had finished their investigation into OneCoin. The regulator found OneCoin to be ““a chain letter game or similar”, and promptly reported the scheme to police. Upon consideration of the Gaming Board’s findings these last two months, now news that Swedish police have launched a preliminary investigation [Continue reading…]

Source: Swedish police launch preliminary OneCoin investigation

Read The Full Article @ #BehindMLM

NewBridge Bank to return $10 million to Zeek victims

Good news for Zeek Rewards victims, not so good news for banks who think they can get away with providing financial services to Ponzi schemes. As part of the Zeek Receiver’s ongoing efforts to hold accountable service providers and vendors who provided services to Zeek Rewards, a $10 million dollar settlement with NewBridge Bank has been [Continue reading…]

Source: NewBridge Bank to return $10 million to Zeek victims

Read The Full Article @ #BehindMLM

Ignatova laundering OneCoin funds through mother

Following a decision by Finnish authorities to “monitor” OneCoin’s scamming of victims, as opposed to doing their jobs, Finnish media have recently been reporting on the Ponzi scheme. Much of what we already knew was covered in a recent Finnish Broadcasting Company (Yle) article, however specifics about OneCoin’s laundering of funds was news to us. Following [Continue reading…]

Source: Ignatova laundering OneCoin funds through mother

Read The Full Article @ #BehindMLM