Wombia’s website makes no mention of who runs or owns the business.
On July 16th, 2021, a private registration was made for the domain name “wombia.com” to be used by Wombia. Wombia provides a certificate of incorporation for Wombia Multinational Company Limited in order to appear legitimate.
An MLM company that claims to be based in the United Kingdom is a red flag. Cheap and unregulated incorporation in the United Kingdom is a godsend for small businesses. With the FCA (the UK’s top financial regulator) not actively enforcing MLM-related securities fraud, it’s even worse.
It is because of this that the UK has become a popular location for scammers who want to set up and run fraudulent businesses. For MLM due-diligence purposes, incorporation in the United Kingdom or FCA registration is of no significance.
Wombia also provides Wombia Integrated Resources LTD with a certificate of incorporation in Nigeria. Basic incorporation anywhere is meaningless for the purpose of due diligence. Wombia uses a robo-voice in its marketing videos. Non-native English speakers tend to run schemes like this. Don’t join or hand over any money to an MLM company unless they are completely transparent about who owns and runs it.
Wombia’s goods: Wombia doesn’t have anything to sell. Only Wombia’s affiliate membership can be promoted by affiliates. Plan of Compensation for Wombia Affiliates of Wombia make cryptocurrency investments in exchange for the promise of the returns advertised:
Beginner’s investment ranges from $25 to $9,999, with a 1.5 percent return over 150 days (a 225% return on investment). An investor can expect a 130-day return of 2 percent (260 percent ROI) if they invest between $10,000 and $24,999; however, they must reinvest half of their original investment. If you have $25,000 to $49,999 and are willing to wait 120 days to see a return of 300%, this option is for you. If you have $50,000 or more to invest, you’ll get 3% a day for the next 100 days (300 percent ROI) A ten percent fee is applied to all withdrawals at Wombia. In the MLM side of Wombia, affiliate investors are paid commissions for recruiting new members.
Commissions for Referrals Wombia pays a commission of between 2% and 10% on cryptocurrency invested by affiliates who have been personally recruited. earn a 2% commission rate by bringing in fifty affiliates To earn a 5% referral bonus, you need to sign up 100 affiliates. to earn a ten percent referral fee, you must recruit 200 affiliates.
Recurring Payments Using a binary compensation model, Wombia pays out residual commissions. There are two sides (the left and right) to every binary team, and each side has its own compensation structure. There are two positions on the binary team’s first level.
These first two positions are divided into another two positions each to produce the binary team’s second level (4 positions). Each new level of the binary team has twice as many positions as the previous level, so that the team can grow at a steady pace. Members of the binary team are recruited through both direct and indirect methods.
Observe that there is no limit to the depth of a binary team. Wombia keeps track of the new investment volume on both sides of the binary team at the end of each day. 10% of the funds generated on their weaker binary team side, capped by the amount of money they’ve put in: Affiliates in the start-up tier are limited to $2500 per day in residual commissions.
The daily residual commission cap for affiliates in the Trader tier is $5000. Residual commissions for professional affiliates are limited to $7500 per day. The daily residual commissions for Evolution tier affiliates are limited to a maximum of $10,000. Rank Accomplishment Rewards Affiliates of Wombia are rewarded with the following one-time bonuses: In order to be eligible for the $1,000 bonus, agents must generate $30,000 in investment volume on both sides of their binary teams.
To earn a $2000 bonus and a Rolex watch, you must generate $60,000 in investment volume on both sides of the binary team. In order to receive the $3000 bonus and “franchise benefits,” you must generate $90,000 in investment volume on both sides of your binary team. To earn a $4500 bonus and an Apple Watch and laptop, you must generate $125,000 in investment volume on both sides of your binary team.
In order to earn a $6000 bonus and a “7-day 8-night European vacation,” you must generate $175,000 in investment volume on both sides of your binary team. A $10,000 bonus, a “sports car,” and a $2500 monthly “fixed salary” are all part of the deal when you reach rank six. Wombia Wombia affiliate membership is completely free. A minimum investment of $25 is required to participate in the attached income opportunity.
Wombia is a cryptocurrency investment platform that accepts a wide range of cryptocurrencies as payment. Wombia’s Verdict A typical MLM crypto Ponzi marketing ruse is offered up by Wombia: When it comes to investing, Wombia’s team takes advantage of cryptocurrency’s high volatility to generate high yields for our customers’ accounts.
There is no evidence that the company generates revenue outside of the company. The Ponzi logic test also shows that Wombia does not pass. The question is, why does Wombia need your money if they already have a successful team? For the time being, new investment is the only known revenue stream entering Wombia.
Wombia is a Ponzi scheme because it uses new investments to pay affiliate withdrawals. The recruitment of new investors will dry up, as it does in all Ponzi schemes. Wombia will be deprived of ROI revenue as a result, and the company will eventually come to an end.
Ponzi schemes are mathematically guaranteed to cause the majority of investors to lose money in the event of a collapse.
Meta Utopia- Crook Review
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.
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.
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.
Laetitude- Crook Review
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.
GSPartners- Crook Review
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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