Category: Scam Alert
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Purvii Review: Not an MLM company for perverts
Purvii, pronounced “pure-vee”, operates in the nutritional supplements MLM niche. The company is based out of Indiana and is headed up by Tony and Jenny Lusby. On LinkedIn, Jenny Lusby (right with Tony) cites herself as Purvii’s CEO and founder. On FaceBook Tony Lusby also cites himself as Purvii’s CEO and founder. For some reason…
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edX AI Pyramid Scheme Alert Issued by Russian Authorities
The edX AI platform has been flagged by Russian officials for operating as a pyramid scam. The Bank of Russia issued a statement on May 17th, indicating that edX AI demonstrates “characteristics of a financial pyramid scheme”. The fraudulent activity associated with edX AI involves so-called quantitative trading. Potential investors are prompted to install the…
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Dusery Analysis: The “Press a Button” Ponzi Scheme in Quantitative Trading
Dusery does not disclose information about its proprietors or high-ranking officials on its portal. Dusery is associated with a couple of recognized internet domains: dusery.com (generic fintech portal filled with misleading claims) – anonymously registered on October 4th, 2023 duseryvip.com (application) – anonymously registered on December 23rd, 2023 Although it has only been in operation…
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Connect United Review: Node ruse MLM crypto Ponzi
Back in late 2021 TRUST published its WinWheel review. WinWheel was essentially a reboot of the collapsed Algotech Ponzi scheme, fronted by several former top OneCoin Ponzi promoters. WinWheel offered investors passive returns through node positions, tied to the company Connect. This is a summary conclusion from TRUST’s WinWheel review; To summarize, WinWheel is a…
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Auratus Review: Fake gold investment fraud
Auratus fails to provide ownership or executive information on its website. Auratus’ website domain (“auratus.gold”), was privately registered on November 29th, 2023. Auratus came about following the collapse of the GSPartners fraudulent investment scheme. GSPartners was an MLM crypto Ponzi scheme run through GSB Gold Standard Corporation. Both companies are owned by German national Josip…
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CEO of Nutra Pharma Corp Agrees to $79,000+ Settlement
Subsequent to the announcement of a compromise between Nutra Pharma Corp officials and the SEC in the spring month of April, the specifics of a pair of agreements have been disclosed. In accordance with a conclusive judgment rendered in the SEC’s favor; Erik “Rik” Deitsch, Nutra Pharma Corp’s erstwhile CEO, has been mandated to disburse…
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USFIA Receiver Applies to Terminate Receivership Proceedings
After initiating two rounds of compensatory disbursement to victims, the Receiver overseeing USFIA has submitted a petition to the court to approve the destruction of records and conclude the Receivership. In the Final Report submitted by the USFIA Receiver on May 14th, a total of $63.3 million has been disbursed to victims of USFIA. This…
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Legal Prosecution Befalls FutureNet’s Anna Morgenstern
South Korean legal officials have filed criminal charges against Anna Morgenstern, spouse of FutureNet co-founder Stephan Morgenstern. In a separate development, the Albanian judiciary has accused Anna of funneling funds associated with a criminal activity. As reported by VoxNews, the Prosecutor’s Office in Tirana has initiated the provisional confiscation of various properties linked to Anna.…
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Alert Issued for YIPTG Pyramid Scheme in Russia
An alert for a pyramid scheme involving YIPTG has been issued by Russia. According to the Central Bank of Russia’s notice dated May 15th, YIPTG displays “characteristics of a financial pyramid”. An evaluation conducted by TRUST in April identified YIPTG as a Ponzi scheme centered around a “click a button” application. YIPTG promises quantitative trading…