MLM Schemes | FinTelegram News

Category: MLM Schemes

January 2, 2023

Be Very Cautious: The G999 Blockchain-Based Cash System Of Josip Heit!

In its whitepaper, G999 claims to be a blockchain-based system for fast payments with high transaction capacity. G999 is part of the group of the GSPartners Group of Josip Heit. It is operated by GSB Gold Standard Pay Ltd, registered as a financial services and crypto services provider in Kazakhstan. The G999 crypto storage services are provided by GSB Gold Standard Pay KB, Stockholm, Sweden. However, the very same website states that it does not offer financial services. Strange, indeed. Here is our first review:

November 6, 2022

Crypto Ponzi Scheme DagCoing: Dutch Office Raids & More Names Of The Arrested Revealed!

A few weeks ago, FinTelegram reported that the Estonian police arrested four executives of DagCoin, a sort of successor scheme to OneCoin. The arrested are DagCoin founder Nils Grossberg and Kris Ress (aka Kristjan Ress). behindMLM reports that the other two men are Gustav Poola and Gilbert Pardla.The men are charged with the operation of the crypto Ponzi scheme DagCoins. The Dutch FIOD raided offices of Success Factory, part of the DagCoin scheme, in Amsterdam.

November 6, 2022

U.S. SEC Filed Charges Against $295 Crypto Ponzi Scheme Trade Coin Club!

The U.S. Securities and Exchange Commission (SEC) announced charges against Douver Torres Braga, Joff Paradise, Keleionalani Akana Taylor, and Jonathan Tetreault for their roles in Trade Coin Club. This fraudulent crypto Ponzi scheme raised more than 82,000 bitcoin, valued at $295 million at the time, from more than 100,000 investors worldwide. Like all MLM Ponzi schemes, Trade Coin Club only enriched its owners and top promoters.

October 21, 2022

Estonian Police Arrested Founders Of The DagCoin Ponzi Scheme.

Estonian police arrested four DagCoin executives, including OneCoin alumni and DagCoin founder Nils Grossberg and Kris Ress (aka Kristjan Ress). The men are charged with having provided false information to sell DagCoins thereby making nearly €8 million, the Estonian police said in an announcement. Essentially, the DagCoin scheme was designed like the infamous OneCoin of crypto queen Ruja Ignatova and was sold through a multi-level marketing system.

September 18, 2022

Warning Against MLM & AI Trading Platform Scheme Cortana World!

The Austrian Financial Market Authority (FMA) warned against the Cortana World broker scam, operated through CortanaWorldBroker LLC in St. Vincent & The Grenadines. On its website and social media accounts, Cortana World claims to be an AI-based trading platform that can make you a lot of money quickly and safely. On Instagram, the Austrian operators around Justin Dadamo portray themselves as the get-rich-quick winners with fast cars and cool locations. Please do not fall for this scam!

October 11, 2020

Investor Warning – Crypto-based forex scheme Mirror Trading International

The much criticized Bitcoin-based forex trading MLM scheme Mirror Trading International ("MTI") was established in April 2019 in South Africa by MLM veteran Johann Steynberg. In July 2020 the Texas Financial Services Authority (FSSB) issued a cease-and-desist order against MTI and in August 2020 the South African FSCA issued an investor warning. Allegedly the MTI scheme has more than 140,000 members holding some 17,000 BTC in their trading accounts.

October 3, 2020

Request 4 Information – MLM Scheme Crowd1, Billionaires Club, and its regulatory issues

In recent months, the MLM scheme Crowd1 has apparently become the focus of the attention of various financial market supervisory authorities. Especially the regulators in Africa, Asia, and the Pacific region have issued warnings against the alleged Ponzi scheme, which is active in the gaming and financial services. The Scheme is allegedly operated by entities in Sweden, Spain, and Dubai. There is currently no reliable information about the beneficial owners.

January 15, 2020

The Dark German OneCoin Empire and how Ruja Ignatova allegedly got her new Ukrainian Identity

The history of the crypto-MLM OneCoin scam definitely has all the ingredients to make a Hollywood blockbuster out of it in the near future. Based on the model of "The Wolf of Wall Street" released in 2013 with Leonardo DiCaprio in the role of the 1999 convicted US stock exchange fraudster Jordan Belfort, the OneCoin movie adaptation could fill cinemas worldwide. Surely the hundreds of thousands of aggrieved OneCoin members would buy a movie ticket. This report provides additional information and rumours around OneCoin and its Cryptoqueen.

November 22, 2019

Rise and Fall of a scam lawyer – Convicted OneCoin lawyer Mark S. Scott and the money laundering and bank fraud scheme

Mark S. Scott who was employed between June 2015 and September 2016 as an equity partner at the big US law firm Locke Lord LLP...

January 27, 2019

OMEGAPRO – Serial Perpetrators Mike Kiefer And Robert Velghe At Work?

The serial rip-off perpetrators Mike KIEFER and Austrian Robert VELGHE will start OMEGAPRO together with their friends on 27 January 2019. The ingredients for this..

December 24, 2018

Crypto MLM NEXUS GLOBAL – Update On A HYIP Ponzi Scheme

A few days ago, the new NEXUS GLOBAL presentation was shared on Facebook. Reading through it, we found some interesting information. Purportedly, NEXUS GLOBAL is..

December 17, 2018

Italien CONSOB Bans Sell of Avalon Life’s Green Earth Certificates

Founded by German MLM veterans Thomas GRAF and Tom KOLLER, the Crypto-MLM Schema has reinvented itself several times since its inception in 2016. Initially, it..