Keeping track of Antony Norman’s various scam launches is no easy task. In our recently published Wellmont Capital review, we documented Norman’s acquisition of John Barksdale’s failed InnerQuest Global Limited Ponzi scheme. In its dying days, InnerQuest’s last hurrah was IQ Legacy. Norman (right) rolled IQ Legacy into Wellmont Capital. He also simultaneously launched IQ5050 […]
Sprinkle Group reboots collapsed IQ5050 Ponzi Read More »
BizKniz provides no information on its website about who owns or runs the business. BizKniz’s website domain (“bizkniz.com”) was first registered in 2013. The domain registration was last updated in July 2018. BizKniz’s website domain registration is private and provides no information on its owner. As always, if an MLM company is not openly upfront
BizKniz Review: Adcredit pyramid scheme Read More »
Vibe Direct provides no information on its website about who owns or runs the business. Vibe Direct’s website domain (“vibe.direct”) was registered on August 26th, 2018. Dan Robison is the registered owner, through a residential address in the US state of Florida. Robison lead me to a defunct Vibe Direct signup page, which according to
Ridesharing, wireless services & discounts Read More »
It appears the FTC’s fraud case against Thomas Dluca, Louis Gatto, Eric Pinkston and Scott Chandler may have been settled. On May 24th a Settlement Conference was scheduled for June 4th. “All parties” were required to attendance the conference, which ran as scheduled. A June 5th a minute order for the conference states: Settlement Conference
Dluca, Gatto, Pinkston & Chandler settle FTC fraud case Read More »
Following claims Global Capital AG had approval of the Cambodian government to run a Ponzi scheme, Cambodian authorities have arrested co-founder Darren Yaw and his wife. Guardian Capital AG represented Cambodian government approval, by posting a photo of Prime Minister Hun Sen on its website. According to Guardian Capital AG, Sen personally supported the company
Guardian Capital AG Ponzi co-founder arrested in Cambodia Read More »
A Cloud Token affiliate investor has been “fined” 1000 CTO points, purportedly for failing to explain the opportunity to someone they recruited. According to a recent Facebook post by Cloud Token admin Ronald Aai, an affiliate was “fined” 1000 CTOs for ‘fail(ing) to explain … how (Cloud Token’s) affiliate program works‘. In terms of what
Cloud Token confiscates affiliate investor’s CTO Ponzi points Read More »
The Italian financial regulator CONSOB has temporarily suspended promotion of LiraCoin Club in Italy. In a published May 29th bulletin, CONSOB states LiraCoin Club’s MLM opportunity constitutes an investment proposal. Offering an investment proposal is the equivalent of a securities offering, which in Italy requires companies to register the offering with CONSOB beforehand. LiraCoin Club
LiraCoin Club promotion suspended in Italy over investment fraud Read More »
As part of a consumer protection ruling in Austria, Lyoness has been ordered to compensate victims with interest. The ruling covers Lyoness victim losses on investments made between 2007 to 2009 and in 2012. The ruling is based on the finding that the contracts Lyoness used to dupe investors during these years were illegal. In
Lyoness victims able to recover 2007 to 2012 losses Read More »
It’s well-established by now that if you’re dumping money into an MLM company and collecting a passive return, it’s constitutes a securities offering. Securities are strictly regulated across the world and for good reason. It’s one thing to say you’re doing something and provide social media proof. Registering your securities offering (legally required) and providing
Ronald Aai & Faith Sloan misrepresent Cloud Token securities fraud Read More »
It’s been just under three weeks since AdvoCare announced it was ditching it’s MLM business model. As part of my ongoing search for answers, I came across an archived Freedom of Information Act request list from the FTC. Did the DSA know AdvoCare was going to screw over its distributors in advance? Between October 1st,
Did the DSA know AdvoCare was going to screw over distributors? Read More »
