What’s left of the Richard Smith’s Tranzact Card to FinMore grift has collapsed. In an email sent out a few hours ago, frontman Peter Rancie “announc[ed] the complete and immediate shutdown of TranzactCard and FinMore”. While Rancie (right) “doesn’t blame” newly launched NeloLife for TranzactCard’s and FinMore’s “mistakes”, he does state the its launch is […]
FinMore collapses, Nelo Life “complete distraction” blamed Read More »
Serial scammer Darren Olayan’s latest grift is a Ponzi scheme run through Disruptive Studio. BehindMLM first came across Disruptive Studio in our Crypto CNL review, published back in June. Disruptive Studio was behind creative designs for a number of MLM crypto Ponzi schemes, but didn’t seem to be running any itself. One of Disruptive Studio’s
Disruptive Studio launches crypto Ponzi with Darren Olayan Read More »
Crypto CNL has collapsed. The scammers behind Crypto CNL have wasted no time rebooting the Ponzi scheme as Homes CNL. In doing so, they’ve also inadvertently exposed a Russian MLM Ponzi factory. Crypto CNL was run from the domain “cryptocnl.com”, privately registered on November 29th, 2021. Up until sometime in late May Crypto CNL’s website
Crypto CNL rebooted as Homes CNL, Ponzi factory exposed Read More »
Yesterday longtime BehindMLM reader GlimDropper shared a Nui update with us. Through Nui International, Darren Olayan was offering 12 month crypto investment contracts. Following a $595,000 securities fraud fine from Utah in late 2020, Olayan had been laying low. Having abandoned his social media in December 2017 as multiple regulators launched investigations into Nui, Olayan
Darren Olayan moves Nui Ponzi scheme to Brazil Read More »
The FTC has issued at least 379 MLM companies with deceptive and/or unfair conduct notices. This was announced by the FTC on October 26th. If it slipped under your radar, you’re not alone. I learned of the FTC’s announcement via a tip sent in by a reader. At first I thought there was some funny
FTC sends 379 MLM companies deceptive/unfair conduct notices Read More »
Following non-payment of withdrawals and an effective collapse, PGI Global has made an announcement suggesting they’ll be exit-scamming through Kala. That’s the same Kala shitcoin Nui launched three years ago. From what I can tell PGI Global informed affiliates they’d be getting Kala wallets about a month ago. This roughly coincides with when withdrawals slowed
PGI Global collapses, initiates exit-scam through… Nui’s Kala? Read More »
The state of Michigan has issued Darren Olayan a securities fraud cease and desist pertaining to Mintage Mining. Michigan’s notice was issued on April 8th, however I only came across it today as part of my research into Olayan’s $595,000 Utah fine. As per Michigan’s cease and desist; The Administrator’s staff conducted an investigation of
Darren Olayan issued Mintage Mining securities fraud C&D Read More »
The Utah Division of Securities has fined Divvee Social and Darren Olayan $595,000 as part of a securities fraud settlement. The Utah Div Sec litigation pertains to Divvee Social. This stems from Olayan’s original Divvee pyramid scheme, which was rebranded as Nui Social in November 2017. It’s assumed “Divvee Social” is a shell company, one
Darren Olayan fined $595,000 for Divvee securities fraud Read More »
In an attempt to distance itself… from itself, Darren Olayan has resigned from Nui’s parent shell company Appliqate. Nui’s company history is intentionally convoluted. At present the only thing going for Nui is Nui International. Nui International is your typical MLM crypto trading bot Ponzi scheme. The investment scheme isn’t available in the US and
Olayan to focus on Nui International Ponzi, “leaves” Appliqate Read More »
In a recent official R Network marketing video, a “common stock ownership” scheme was pitched to prospective affiliates. Neither R Network or their executives are registered with the SEC, meaning the offer constitutes securities fraud. The marketing video in question is part of R Network’s current “90 day awareness campaign” promotion. The video is hosted
R Network committing securities fraud thru “stock ownership” Read More »
