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Binaxx- Crook Review

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Binaxx’s website makes no mention of the company’s ownership or management. This company’s site does include links to its social media accounts. Sann Rodrigues hosts Binaxx’s official YouTube channel, where we can see the company’s corporate marketing videos being distributed.

As a corporate representative, Binaxx’s Zoom account name is “Binaxx.” Rodrigues, however, has been personally promoting Binaxx on social media since October of last year. On August 31st, 2021, Binaxx’s website domain (binaxx.com) was privately registered. Rodrigues is evasive when asked about his role at Binaxx. He’s either in charge of it or closely collaborating with whoever is.

Sanderley Rodrigues De Vasconcelos, better known as Rodrigues, is a well-known promoter of TelexFree. The TelexFree Ponzi scheme defrauded investors out of $3.6 billion. Over $3 million went to Rodrigues. Rodrigues paid $1.7 million to the SEC in 2017 to settle TelexFree fraud charges. According to rumors, the disgraced con artist has relocated to Portugal.

Rodrigues is currently under investigation by Brazilian authorities. In February 2020, it was revealed that Rodrigues had escaped Brazil and entered the United States with the help of Federal Police. Rodrigues was prevented from leaving the country at the time of the criminal proceedings against him. Two people had been taken into custody by Brazilian authorities as of July 2020: one was a police officer and the other was an attorney. The seizure of over $340,000 worth of cryptocurrency was also made.

In the wake of TelexFree, Rodrigues went on to promote iFreeX, BitinForex (Top10Cap), and Clube365. Ponzi schemes were the culprits in all of these cases. In early 2020, Clube365 appeared. The website domain “Clube365.com” is for sale on the scam’s website.

Binaxx’s MLM opportunity will be thoroughly examined in the following paragraphs. Products from Binaxx Binaxx does not offer any resaleable items or solutions. A Binaxx affiliate membership is the only thing that can be promoted by affiliates on behalf of Binaxx.

Profitability is guaranteed by the “no limit” passive returns promised by Binaxx affiliates when they invest in tether (USDT) or bitcoin (BTC). In order to determine the amount of fees Binaxx charges on returns, an investment is tied to a yearly fee. Binaxx charges a 50 percent ROI fee for C5 and C10 annual fees. A20 and A30 annual fees are $20 and $30, respectively. A70 and A70 annual fees are $70 and $70, respectively. C5 and C10 annual fees are $5 and $5, respectively. A10 and A10 annual fees are $10 and $10, respectively. A20 and A20 annual fees are $20 and $20, respectively. A30 and A30 annual fees are $30 and $30, respectively. A70 and A70 annual fees are $70 and $70, respectively.

Commissions for Referrals On the initial fee payments, Binaxx pays referral commissions, and ROI fees levied on downline affiliates are also paid out by Binaxx. A unilevel compensation structure is used to keep track of referral commissions. When an affiliate recruits new members, they are placed at the top of their unilevel team (level 1), and each new member is placed directly below them. Affiliates recruited by level 1 members are placed on the second level of their unilevel team.

In theory, there are an infinite number of levels of affiliates that can be created if affiliates at level 2 recruit affiliates at level 3, and so on. There appears to be a limit on the number of paid unilevel team levels that Binaxx will accept. Payout rates and levels of referral commission are determined by the fees a Binaxx affiliate pays.

There is no referral commission for C5 affiliates. Affiliates in the A10 tier earn 10% of the annual level 1 fees (personally recruited affiliates) Annual fees and ROI fees are paid across levels 1 to 10 for affiliates ranked in the A20 tier. A30 tier affiliates earn 20% on annual fees and 14% for ROI. A50 tier affiliates earn 25% on annual fees and 20% for ROI. A100 tier affiliates earn 30% on annua fees and 20% for ROI, paid across levels 1 to 10 for affiliates ranked in the A70 tier.

Binaxx’s MLM potential is not entirely clear. It’s my belief that 30% of fees paid are distributed to the commissions, no matter what the level. As a result, affiliates at the top of the affiliate ladder can keep the difference in commissions from affiliates at the bottom of the pyramid. For example, if a member of your downline is an A30, they earn 20% and 14%. 30 percent and 22.5 percent are earned by A200s.

Assuming there is no higher tier between you and your A30 downline, you will receive the 10%/12.5 percent difference in commissions they earn. Until the full 30% of ROI fees are paid out, an affiliate or affiliates higher than A200 in the upline would collect the difference (at A200 the full 30 percent on annual fees paid has already been paid out to you).

Income Restriction Binaxx has a profit cap of 300 percent, but it’s not clear what this means. In light of the fact that returns are supposed to be limitless, I believe that the 300 percent earnings cap also applies to commissions. There are two options for this: a daily, weekly, or monthly subscription-based limit. Neither Binaxx nor I know which of these the earnings cap is. It’s more likely that the latter is the case, so the “annual fee” concept only applies to those who aren’t recruiting.

Binaxx affiliate memberships range from $5 to $1000 per year. The lower ROI fees an affiliate must pay, and the more money they can make, rise in direct proportion to the amount of fees they pay. After reaching the 300 percent earnings cap, it’s unclear whether membership fees need to be repurchased.

Conclusion of Binaxx, Sann Rodrigues is back with a “lulz can’t touch our money!” Ponzi scheme after failing miserably with basic crypto Ponzi schemes. A major selling point for these schemes is the fact that they cannot directly access funds held in a third-party exchange account. They don’t have to, in reality. Binaxx has complete control of affiliates’ funds via a bot.

Binaxx created the bot and it follows their instructions exactly. This can be changed at any time. There’s no way Lulz can get their hands on our money! The bot is used in Ponzi schemes to move money around from one account to another.

This is a form of trading, but it’s not actually profitable. “lulz can’t touch our money!” fraud fails and affiliate accounts are depleted as a result. This is being hidden behind a slew of rationalizations. “Technical error,” as iQuandex dubbed it. In a “rare black swan market condition,” Digital Profit referred to the situation.

In the end, it was the same outcome. It was the administrators of the scams who stole the money from the affiliates. MLM companies that offer passive investment schemes must be registered with the Securities and Exchange Commission (SEC). They are not registered to sell securities in any jurisdiction.

In his TelexFree settlement, Rodrigues was specifically prohibited from committing any further acts of securities fraud. At the time of this writing, Binaxx’s website is ranked 8 million by Alexa. Indicating that the number of people applying for jobs is increasing, this number is rising. Binaxx’s demise will be similar to that of iQuandex and Digital Profit.

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Meta Utopia- Crook Review

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A few days ago, we put out its review of Meta Utopia.

“Metaverse” MLM crypto Ponzi scheme that isn’t very interesting on its own.

As part of our research, we found a link between Nicholas Coppola and the man who started the Ponzi scheme.

Or rather, he did it through an Instagram story that has since been deleted:

Coppola wasn’t happy about being linked to Meta Utopia in public, it turns out. He only wants to hide the fact that he is a crypto-bro Ponzi scammer.

Today, Nicholas Coppola joins the DMCA Wall of Shame.

Over the past 24 hours, “Dincer Odabasi” from “Copyright Support” has sent us two emails. Nicholas Coppola’s emails were sent on his behalf.

Copyright Support says on its poorly made website that it will

Negative or damaging news that can be found on the Internet and in Google search results should be taken down for good.

In his first email, Odabasi tries to pull the old “right to be forgotten” scam.

“Dear Madam,

Because of the right to be forgotten and because of the privacy clause, we want the content to be blocked.

We tried to get in touch with the website that posted the content, but we didn’t hear back. So, we give you the content and ask you to turn it off.

As everyone knows, according to the first paragraph of Article 9 of Law No. 5651 on the Regulation of Broadcasts Made on the Internet and Combating Crimes Committed Through These Broadcasts, if they can’t get to it, they can send a warning to the hosting provider and ask that the content be taken down.

Again, the second paragraph of the same article says that “the content and/or hosting provider must respond to requests from people who say their personal rights have been violated by the content of an online broadcast within twenty-four hours at the latest.”

We want the case that was filed on our behalf to be taken care of. Because of the European right to be forgotten and the privacy of private life, we have the right to limit access to content.

Please note that we’re asking you to take down the content because we’ve tried to reach the owner but haven’t heard back. That’s why we want and need you to take it down.”

This is a form letter that con artists send out. I know that because Odabasi put the same notice to Amazon from another email about a different website and client (ruhroh GDPR fail) into the body of the email he sent me.

In any case, the “Right to be Forgotten” law in Europe is used by scammers to hide their pasts, no matter how good the lawmakers’ intentions may have been at first.

The Right to be Forgotten is not part of EU law, so we don’t recognise it. Also, it takes four days from the date of publication until a right-to-be-forgotten takedown notice is sent.

Odabasi went on to say that Turkish law had something to do with the US, which was not true.

Due to the Right to be Forgotten and the USA Legal Content Removal Request Pursuant to Law No. 5651, we can’t take down the content we told you about because it’s in the Constitution.

“The Right to be Forgotten and the USA Legal Content Removal Request” is not a thing, even if that sentence makes no sense. It’s not true at all.

Turkey passed Law No. 5651 in the year 2020. It only happens in Turkey and has nothing to do with the United States.

Odabasi sent another email a few hours after the first one. This time, he threatened to take action because of copyright issues.

“We want you to remove any content that reveals personal information about our representative.

If you don’t get rid of the news content, we will file a copyright claim with your hosting company, Google.

I’d like you to put the story away, please.

Regards, 
TEAM OF SUPPORT FOR COPYRIGHT”

As our Policy says, we often use “third-party logos and images,” which is allowed by US copyright law through “fair use.”

We don’t need permission from the people who own the rights to the images we use in our MLM news and reviews. Period. 

The DMCA takedown process is being abused when fair use isn’t taken into account and a fake DMCA is filed. Not only will it not work, but the person who submitted it is lying.

Even though it’s clear that Copyright Support doesn’t care about the law, it’s still important to point out their hypocrisy.

Scam businesses like Copyright Support depend on the fact that the publisher or service provider they are after doesn’t know what they are doing.

Nicholas Coppola has publicly linked himself to Meta Utopia and is involved enough to be close to the Ponzi scheme’s founder, who has not yet been named.

It is not against any US law to publish this information with proof attached.

Update, July 2, 2022: Dincer Odabasi is now committing twice as much DMCA fraud as he was before.

Odabasi sent Google a “court order” on June 28 that says the same thing: “It’s against the law to search for scammers!” Stupid, but it also says this:

Based on the privacy clause of private life and the court document we will send you, we want the content to be taken down from publication and blocked from access.”

Odabasi is saying that a Turkish law is a “court document” that keeps scammers from telling the rest of the world. Oh dear.

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Laetitude- Crook Review

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Investors such as Laetitutde and Swapoo are circumspect on issues affecting investor wallets and active investments. 

According to a Latitude News report dated August 13th, You have gotten one or two emails from Swapoo in the past several days, which also affects our Laetitude members. 

Due to the continued strong relationship between Swapoo and Laetitude, we can guarantee that these changes will not affect your Laetitude accounts. Latitude will continue to operate as usual.   

The alterations made by Swapoo will have an effect on the wallet and the bots. However, we are aware that wherever there are obstacles and closed doors, new doors will emerge to provide opportunities for greater success. 

Swapoo is merely adjusting to the ever-changing regulatory environment and market situations.

The details of the e-mails sent are kept confidential. I have not encountered any examples in nature. 

Regarding “evolving regulatory landscapes,” Laetitude is a Ponzi scheme operated by Swapoo. 

David El Dib operates Laetitude from Dubai, the center of MLM fraud. Swapoo is run by Dave Martin, who is from the Philippines.El Dib and Martin have both established themselves on the BitClub Network. 

The investigation by the Department of Justice found BitClub Network to be a $722 million Ponzi scheme. The founders of BitClub Network were arrested in 2019. 

El Dib and Martin commit securities fraud and operate their own Ponzi scheme through Laetitude and Swapoo. The regulation of securities is not novel. For decades, every nation with a financial market has regulated securities fraud. 

The Ponzi fraud announced a remedy for lost Swapoo wallets in a follow-up “Laetitude News” post dated August 26;  

As you are likely aware, Laetitude no longer utilizes Swapoo for secure wallet services. As a result, we have recently implemented the ability to fund, purchase, and withdraw directly within Laetitude. 

In light of this, we would like to encourage you to login and withdraw your balance as soon as possible, and to continue withdrawing your balance as your compensation earnings increase. 

Laetitude lacks the two-factor authentication security offered by Swapoo, so it is essential that you protect your account with a formidable password. Again, what is occurring behind the scenes is kept secret. 

The only clue I could locate was a query posted two weeks ago on Swapoo’s most recent Instagram post. 

Swapoo has not published any new social media updates since July 30. This date also marked the last Facebook update posted by Laetitude. 

The lack of visitors to both Laetitude and Swapoo suggests that the Ponzi scheme is running out of money to pay investment withdrawals. 

The Philippine Securities and Exchange Commission is one of the most active securities regulators worldwide.

It is unclear whether they have anything to do with Swapoo’s issues.  

Whatever else is occurring, it is rare for wallets to be abruptly shut off and placed up as unsecured in-house assets. 

Keep up to date on any future developments.

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GSPartners- Crook Review

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GSPartners has dropped its claim of harassment against Chris Saunders. Saunders is the owner and operator of the YouTube channel Grit Grind Gold, which he uses to critique and report on the GSPartners Ponzi scheme. 

In late January 2021, Saunders was sued for harassment by owner Josip Heit and promoters Michael Dalcoe and Antonio (Tony) Euclides Menesis De Gouveia. 

Heit and the GSPartners Plaintiffs alleged that Sunders’ videos about the Ponzi scheme were defamatory. 

Additionally, Heit took offense when Saunders pointed out his position in Karatbars International’s collapsed KBC Ponzi scheme.  

GSB Gold Standard Corporation AG, Josip Heit, Michael Dalcoe, and Tony De Gouveia submitted a dismissal stipulation on July 29.  

Christopher Saunders, the defendant, executed a declaration in connection with the aforementioned case on July 29, 2022. 

Plaintiffs GSB Gold Standard Corporation AG, Josip Heit, Antonio Euclides Menesis De Gouveia, and Michael Dalcoe, by counsel and with the signature and agreement of counsel for Defendant Christopher Saunders, stipulate to the dismissal without prejudice of all claims in this matter pursuant to the Saunders’ Declaration.

The aforementioned stipulation from Saunders proves that he was granted permission. 

Mr. Ovidu Toma in relation to the Plaintiffs’ assertions and declarations. Since January 2020, Mr. Ovidu Toma has provided me with evidence of Mr. Harald Seiz’s alleged involvement in Karatbars’ wrongful conduct.   

“Ovidu Toma” refers to Ovidiu Toma, the former Chief Technology Officer of Karatbars International. 

Today, Toma serves as the CEO of CryptoData. Romania-based CryptoData sells encryption hardware. 

To return to Saunder’s assertion: I was aware, based on first-hand knowledge of facts and documents, that any alleged wrongdoing committed by Karatbars in relation to its Miami crypto bank and the issuance of KBC/KBC tokens was committed by Karatbars’ CEO, Mr. Harald Seiz, and that said wrongdoing was committed prior to any affiliation between Karatbars and GSB/Mr. Heit.

This is an odd concession to provide. Heit was the public face of Karatbars’ initial excursion into crypto-asset fraud. In an April 2019 interview, Seiz is referred to as a “major investor and board member” of Karatbars International. In Dubai, Karatbars was selling a “blockchain phone” at the time. When challenged about his remarks on the occasion, he responded, and I quote, ” You mentioned the KBC coin.

You stated that it is probable that it is one kilogram of gold. Is this truly a possibility? Heit reacted. Yes, of course it’s feasible. Nobody believes that many individuals perceive, at the appropriate moment, that they can join us.  

We currently have a market valuation of approximately $300 million as of the previous week or two weeks. And now there are about a billion of us.   

Is it not yet understood?  

And when the mainnet is implemented, which will occur very soon, within a few months we will have a market capitalization of over $200 billion. After months of Heit and Seiz promoting Karatbars’ KBC, the KBC Ponzi coin dropped 62% following the hype event on July 4, 2019. 

Heit, not Harald Seiz, was sent to address and explain the collapse to irate investors. KBC continued to leak throughout the subsequent months until it was eventually abandoned.

Heit had cashed out, left Karatbars, and launched his own Ponzi offshoot, GSPartners, before the end of 2019. The GSPartners Ponzi coins have performed no better than those of KBC.

G999 is supported by wash trading, which I believe is steadily depleting GSPartners’ second Ponzi scheme, LYS. G999 is being washed at approximately 0.002413. At $66.78, LYS continues to drain. 

GEUR was launched earlier this month as a result of the continuous failure of G999 and LYS to take off. GSPartners and Heit symbolize the euro-pegged GEUR currency. It is thought that GEUR was developed because GSPartners investors no longer desired to hold G999 and LYS. 

GEUR does not exist outside of GSPartners as of the publication date. GSPartners uses GEUR to support its most recent 300% ROI Ponzi scheme, metaverse certificates. 

In the event that GSPartners and Saunders achieved a settlement, it has not been made public. Other than wrongly saying that Heit was not involved in the Karatbars KBC scam, Saunders has not recanted any of his GSPartners-related statements.  

The court authorized the GSPartners plaintiff’s Stipulation of Dismissal on August 2nd. This concludes GSPartner’s harassment lawsuit against Saunders.

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