Category: Scam Alert
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110,318 EminiFX Victim Financial Interactions Confirmed by Receiver
Subsequent to the shutdown of the EminiFX claimant portal, receivers have authenticated 110,318 fiscal transactions from upwards of 30,000 claimants. These authenticated dealings amount to approximately $229 million in validated funds invested and nearly $30 million in acknowledged withdrawals. A bit more than 5000 investors in EminiFX have put forward disputes pertaining to transactions, or…
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Joseph Cammarata Receives 6-Year Imprisonment for Tax Evasion
Ex-chief of Investview, Joseph Cammarata, has been handed a six-year term in federal custody for committing tax evasion. Implicated in five counts of dodging taxes, Cammarata (right) was formally charged in 2022 under accusations of concealing $15.5 million from the IRS. Although Cammarata pled not guilty to all accusations, he was convicted last November. On…
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edX AI Review: Quantitative trading “click a button” app Ponzi
edX AI fails to provide ownership or executive information on its website. edX AI’s website domain (“edxai-usdt.com”), was privately registered on April 25th, 2024. Of note is edX AI’s website domain being registered through the Chinese registrar Alibaba (Singapore). In an attempt to appear legitimate, edX AI provides a FINCEN MSB registration certificate for EDX…
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MproLab Review: iNodes ruse MLM crypto Ponzi
MproLab fails to provide ownership or executive information on its website. MproLab’s website domain (“mprolab.io”), was first registered in September 2022. The private registration was last updated on June 12th, 2023. While there are no legally required disclosures on MproLab’s website, its YouTube channel provides names we can attach to the company. Marcin Whoa, Michal…
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Zinzino Acquires Declining Xelliss Brand
It appears Xelliss has succumbed to operational challenges. As indicated by a press release on May 12th, Xelliss’ proprietary product formulas, as well as its distributor and client records, have been divested to Zinzino. Both Xelliss and Zinzino hail from Europe and operate as multi-level marketing (MLM) entities. In the wake of this strategic acquisition,…
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David Kagel Collapses En Route to Mind Capital Plea Hearing
On his way to his Mind Capital plea hearing, David Lee Kagel, a fraudster involved in the Mind Capital Ponzi scheme, collapsed. According to a May 13th entry in the minute records for Kagel’s court proceedings; [Kagel] lost consciousness in the elevator as he was headed to this hearing. Emergency medical technicians are currently tending…
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Horizok Pyramid Scheme Alert Issued in Russia
A cautionary note has been sounded in Russia concerning Horizok and its involvement in a pyramid scheme operation. According to the notification by Russia’s Central Bank on May 5th, Horizok shows “indicators of a financial pyramid”. TRUST scrutinized Horizok recently, identifying it as a “click a button” app-based Ponzi scheme. The facade Horizok presents is…
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IAM Analysis: “Push a Button” App Fraud in Asset Management
IAM omits crucial information regarding its proprietors or executives on its online portal. The domain for IAM’s portal (“lam-intrust.com”), was established with fictitious details on April 11th, 2024. Although it’s been operational for merely a month, IAM incorrectly claims that it originated in Colorado back in 2013. To bolster this baseless assertion, IAM shows off…
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Sabify Review: AI trading ruse MLM crypto Ponzi
Sabify fails to provide ownership or executive information on its website. In fact as I write this, Sabify’s homepage is nothing more than an affiliate log in form: Sabify’s operates from the privately registered website domain “sabify.ai”. Of note is the use of Portuguese in Sabify’s website source-code: As always, if an MLM company is…