Charles Ponzi: The Most Famous Conman in History
Charles Ponzi, one of history’s most notorious conmen, became infamous for orchestrating one of the largest financial frauds of the early 20th century, forever associating his name with the term "Ponzi Scheme." His rise and fall serve as a classic tale of greed, deceit, and the allure of too-good-to-be-true investments.
The Early Life of Charles Ponzi
Charles Ponzi was born in Lugo, Italy, in 1882 and emigrated to the United States in 1903 with dreams of wealth and success. Despite his ambition, Ponzi struggled to find steady employment, drifting between odd jobs and petty crimes. After a series of failed ventures and a brief stint in prison for forging checks, Ponzi set his sights on a grander scheme that would ultimately make him a household name.

The Birth of the Ponzi Scheme
Ponzi's infamous scheme began in 1919 when he founded the Securities Exchange Company in Boston. He promised investors extraordinarily high returns—50% in 45 days or 100% in 90 days—by supposedly exploiting price differences in international postal reply coupons. Ponzi claimed he could buy these coupons cheaply in one country and sell them for a profit in another, capitalizing on currency exchange rates.
In reality, Ponzi was not investing in coupons at all. Instead, he used the money from new investors to pay off earlier investors, creating the illusion of a profitable and legitimate business. This strategy, known today as a Ponzi scheme, relies on a continuous influx of new investments to pay returns to earlier investors, without generating any actual profit.

The Rise and Fall of Ponzi
At the height of his scheme, Ponzi was raking in millions of dollars, living lavishly in a mansion and enjoying a lifestyle of luxury. He became a media sensation, hailed as a financial genius, and attracted thousands of investors, including working-class individuals who entrusted their life savings to him.
However, Ponzi’s empire was built on a fragile foundation. In 1920, investigative journalists and federal authorities began to scrutinize his business practices. A series of audits revealed that Ponzi was deeply in debt, and there were no substantial assets backing his promises. The house of cards collapsed quickly, and in August 1920, Ponzi was arrested. He pleaded guilty to mail fraud and was sentenced to prison.

Legacy of the Ponzi Scheme
Charles Ponzi’s scam is often seen as a cautionary tale of greed, gullibility, and the dangers of high-risk investments. His scheme not only defrauded thousands of investors but also left a lasting impact on financial regulations, prompting stricter oversight and anti-fraud measures in the financial markets.
Ponzi was released from prison in 1934 and was deported to Italy, spending his final years in poverty. He died in 1949, leaving behind a legacy as one of the most infamous swindlers in history.

Charles Ponzi’s story remains relevant today as a reminder of the perils of unchecked ambition and the importance of skepticism in investing. His name has become synonymous with fraudulent schemes that prey on human trust and greed, forever marking him as the quintessential conman of the modern era.

#ponzischeme #Ponzi #scamriskwarning #DODOEmpowersMemeIssuance
$DODO $IOTX $APT

Rodney Burton, aka “Bitcoin Rodney”, was arrested in Florida on January 4th, 2024.Burton has been indicted on HyperFund fraud charges, filed as part of a wider criminal case in Maryland. Following Burton’s arrest, he made his initial appearance in the Southern District of Florida.Burton (below👇🏾) was ordered moved to the District of Maryland, where multiple HyperFund related indictments are believed to have been filed under seal.An IRS agent affidavit filed in support of Burton’s Complaint cites a “network of HyperFund promoters”, but at this stage it’s unclear who else has been charged.Presumably the broader HyperFund criminal case extends to co-founders Ryan Xu (aka Zijing Xu) and Sam Lee (aka Xue Lee).Getting back to Burton, on January 5th he invoked his right to remain silent. Then on January 8th the DOJ moved to reseal the original docket filing (details of the case).This was approved later the same day. Thankfully Sarah Martin at the Guardianwas able to access the filing between Burton’s arrest and the resealing. She was kind enough to provide BehindMLM a copy.As per the IRS supporting affidavit, Burton, as a promoter of HyperFund, has been charged with:operating an unlicensed money transmitting business andconspiracy to commit operating an unlicensed money transmitting businessThe joint IRS-DOJ investigation into HyperFund is part of a broader investigation into the HyperTech Ponzi schemes.These Ponzi schemes include:HyperCapital – launched in 2020 following the collapse of HyperCash;HyperFund – launched later in 2020 following the collapse of HyperCapital;Hyperverse – launched in 2021 following the collapse of HyperFund; andHyperNation – launched in 2022 following the collapse of HyperverseHyperNation itself collapsed in May 2023. In July 2023 Sam Lee claimed he was “rebuilding Hyperverse” but, as far as I know, nothing came of it.Cited as part of a “network of HyperFund promoters, the IRS affidavit states Burton and his co-conspiratorsmade fraudulent promotional presentations to investors and potential investors.In those presentations, promoters touted HyperFund’s investment programs, including the purported returns that prospective investors could earn from investing with HyperFund.Among other representations, HyperFund falsely claimed that investors who purchased “memberships” would receive between 0.5% to 1% daily in passive rewards until HyperFund doubled or tripled the investor’s initial investment.HyperFund did not have any such operations.To the extent investors saw the accrual of any rewards, those investors were paid with funds collected from more recent investors.Beginning in or about July 2020—shortly after HyperFund was established—and through in or about January 2022, BURTON accepted U.S. dollars from investors in HyperFund, in the form of checks or wire transfers.In exchange for those payments and a three percent fee, BURTON transferred a purportedly equivalent amount of Tether cryptocurrency and/or HU from his HyperFund account to the investors’ HyperFund accounts.BURTON communicated with other HyperFund promoters regarding accepting U.S. dollars in exchange for Tether and/or HU.He advised Individual 1, a resident of Anne Arundel County and another HyperFund promoter, to instruct investors to send U.S. dollars (via wire or check) with the memo line “Consultation/Training,” even though no consulting services were rendered.BURTON told Individual 1 that the reason for so instructing investors was to avoid drawing scrutiny from banks, as the banks might shut down their accounts.On April 14, 2021, at 8:52 a.m., Individual 2 texted BURTON “to make sure nothing is going on with Hyperfund” because, among other reasons “[y]ou said don’t send anymore money up let you catch up.”Two minutes later, at 8:54 a.m., BURTON responded saying “Lol, no nothing is wrong. I said let me catch up causeI got so many checks that ppl are sending me. I’m adding to my portfolio. I still haven’t finished funding the ones I got.”From this we can surmise that these co-conspirators are cooperating with authorities (as per the original motion to seal Burton’s Florida docket, Burton was unaware of the case prior to his arrest). Whether the cited individuals have also been arrested remains unclear.In March 2021, one Maryland victim cited in the affidavit lost $40,000 via wire transfer to Burton Holdings Co. An additional $10,000 was then wired to The Bit Group LLC.In April 2021, the victim’s wife would go on to wire an additional $20,500 to Burton Holdings Co.While this is unlikely to be the total amount Burton stole through the HyperTech Ponzi schemes, the IRS affidavit pegs initial ill-gotten gains at $7.8 million.I have reviewed bank records associated with BURTON’s personal bank accounts and the accounts for the companies over which he has control.Analysis of these records show that from June 2020 through January 2022, BURTON received 562 wire transfers or cashier’s checks, totaling $7,851,711, from individuals who wished to invest in HyperFund.An analysis of these payments shows that they originated from investors in the District of Maryland and at least twenty-six other states, one U.S. territory, and Canada.The majority of funds Burton stole through HyperFund were laundered through Burton Holdings Co., a shell company registered in Maryland.If convicted, Burton faces up to five years on both criminal counts.Beyond there most certainly being other HyperTech related indictments still under seal, that’s all we know for now. I have a number for Burton’s Maryland case but the docket and filings are still under seal.It’s assumed we’ll get more details pending further HypterTech related arrests.#HyperFund #Hyperverse #HyperCash #CryptoScamAlert #Ponzi

Below you'll find both active, inactive, dormant, rebooted, rebranded and collapsed businesses (503):(majority of these lists has either rug pull or rebranded their names & company websites altogether but by their same tales you shall know them 😆😅)• 1044Pro• 5 Billion Sales• 50/50 Crowdfunding (reboot to CoopCrowd)• 4QLife• 8 Figure Dream Lifestyle• ABA Marketing (rebooted to 7 Flags Club) • ACN• Affluence Network• AI Marketing (reboot to CashBackPro)• Alliance In Motion Global (AIM Global)• AirBit Club• Alcor Trade (former Antares Trade)• Algotech (rebooted as WinWheel)• Allied Wallet• Alluyssian Sciences• Alovea• Aluva• Antares Trade (reboot to Alcor Trade)• AmpLIFEi• Antis Capital• AntUSD• Apex Financial• Aplex VA  (part of Throne Legacy Capital)• Appi Travels• Arctic Nutrition• Areons• Artery Network• Assure For Life• Atteva• AuBit (rebooted as Freeway) • Average Joe Profit System • AuLives (acquired by Validus, merged)• Aura 4 Finance• AutoTrade Gold (Panthera Trade Technologies, LegoMarket LLC, Pansaka)• Auvoria Prime •Baccarat• Bakuhatsu • Belfast Capital Group • Bastion Invest• BE, Be Rules or Be Factor (former Mellius)• Be International• Bedrock Experts• Better Globe (prev Green Planet) • Beurax• Beyond• Bitassets Venture• BitClub Network • BitCoiin• BitcoLoan• BitConnect • Bitflow Asset• Bitles• BitLocity• BitPayProfits• BitPlam• BitRobot• BitWings• Bixo Money (former BixoTrade)• BlackOxygen Organics• Blessings In No Time (BINT)• Blockchain Capital• Blockchain Global (ACX)• Block Consult• BloxTec• BNB33 Club• BNBBusiness • BNB Profit• BNB Stake• BoldGains International• Bomb Party• BotTronic• Bruxis Trading• Bulavita• Juuva (former Wakaya Perfection)• BullRun• Cannerald• CashBack Marketing• CashBackPro (former AI Marketing)• Calerie• Carcoin• Cash Forex Group (CashFX)• CBI Global (reboot from Uhuru Tribe)• Centurion Global (former Ducatus Network)• CHY Mall• ClearUnited• CoinChain Digital• CoinOption• Cloud Horizon • Cloud Token• ClubShop• Commodum• Common Sense Wellnes Worldwide• Conligus (sold to OneCoin)• CTCoin (Control Traders)• Control Finance• Coop5050 (former CoopCrowd and 50/50 Crowdfunding• Cooperative Crowdfunding• CopyProTraders• Corsair Group (Cloud Horizon) • Crowd 1 (Planet IX) • Crowdbridge Global • Crunchi• CrypArena• Crypto Advice (Mended Minds, Secugenius, QuickX)• Cryptoberg• CryptobestFX247• Cryptolon• CryptoSook• CryptoSpot• CubeBit (reboot to CubeBit 2.0)• CVC Funding• CyberChain • DagCoin • Daisy AI • Daxio• DDKoin• DeFiNatics• DigiCoin• Digital Income Systems• Digital Money Markets• Digital Profit• Direct Cellars• Divine Prosperity Blossom• doTerra• Driven Properties• Ducatus Network (reboot to Centurion Global)• DuoLife•Eclipcity Global• Eaconomy (partnered with Beyond Wealth)• Easy1Up• EclipCity Global • EcoTrade• eComelize • Edain (EAI token)• Elamant• Elevate Pass• Elixoo• Elon Musk scam• Elysium Capital• Elysium Network • EndoTech• EmpiresX • Empowered Consumerism (AIM Global)• Enigro Group (rebooted to The Opportunity Network)• eOracle (reboot to Espian Global)• Epika Global• Espian Global (former eOracle) • EtherScan • EtherConnect• Evo Binary• Evolution Gifting Community• EvoRich (Skywaay Capital / NEEW) • Exove Investment• Exp Realty• Expo R&M• F2S Fund• Family First Life• EzyTRX (reboot to EzyTRX II)• Finalmente Global • Finance & Business Consulting (FBC)• Financial Education Services• Finiko• Flexkom (rebooted to Weeconomy)• Fola Global (FamilyMart)• FomoEx• Forsage BUSD  (former Forsage, Fortron, Forsage Tron, Forsage XGold)• Freebay (former G999) • Freedom Group• FirstCoin Club • FutureNet• Future Maker Life Care• Futurion Finance•Gameas• Ganancias Deportivas• G999 (GSPartners, in partnership with Driven Properties)• GainBTT• GetOn Global • Gifting Community• Gift Of Legacy• Global I Gold Online (GIG-OS) (former EmGoldex and Global InterGold)• GladiaCoin• Globalytics Tech Research (rebooted from Jubilee Ace) • Global I Gold Online • Global Investment Trading (dba Liyeplimal)• Global Sponsorship Network (GSN) reboot from OneLink• Global Technology & Innovation • Global Trading Club• Go9Tro• GoFounders• GreenChoyce• GreenGold• GriddyPro•Headway Capital (clone of Ax Trader)• Hulsa• Hustle With Us• HybridTech Global • HyperFund (former HyperCapital)• HyperMining (HyperTech)• Hyperverse/ HyperVerse Ecosystem, short VerseEco, consists of Nebula, Galaxy Decentralized Capital and VerseDAO, HyperCash, HU, MOF, HVT, HDAO, partnership Genaro Network (GNX token)•IAM Worldwide• iBG Finance• iBuumerang/Ellev8 (former Countdown4Freedom)• IDentityUSA• i-Fern• iGenius• iHub Global• Ilgamos (reboot to ILGON)• Impero Solutions• (reboot from EurekaCoin)• INB Network (CashBackPro, former AI Marketing)• InCruises• Indusviva• Infinity Global (Bitex)• Infinity2Global• InnerQuest Global • IM Mastery Academy• Impero Solutions• Incomatrix• Innov8tive Nutrion• Intelligence Prime Capital (IPC Trade,  IPCapital)• Intense Live• International TEFL Organization• Investrix• Investview (reboot as Kuvera Global, brand iGenius)• Infinity Loops• iPro Network (ProCurrency, PROC)• IQ Chain (rebranded to IQ Legacy) • IQ 5050 • iQuandex• Isagenix• iX Global• IX Inversors•Jaa LifeStyle• JetCoin• Jeuness• JN Jewelry• Jonny Blockchain• Jubilee Ace • Just Been Paid 2020• Karatbars International (LifeBase, G999, Freebay)• Kevlar Gifting Communities (reboot to Gifting Communities)• Kindred Hearts• King Finance• KOK Play• Kripto Future• Kryptogenex• Lifestyle Marketing Group• Kuailian Eco-system• Kynect Energy (acquired by ACN)• Laetitude• Learn Build Lead (LBL)• LeoTrade• Level Up 247• LifeBase • Lion's Share• Liv Labs• Liyeplimal Crypto MLM System• Lobto• Longrich• Lucky Dozens• Lueur Lauren International• LuLaRoe• Lyconet• Lyoness• Mag Markets• Majesty Hash pro• MarfinFX• Maskcara (rebranded as Seint) Matt Bot AI• Matic Business• Matrix Pro• Matrix Pro Leads• MBI International• Medical Marketing Project (MMP)• Mfinity Global (former Bulavita)• Mido Finance• Mindset 24 Global• Mined• Mined Capital• Minerva Trading Bot (CMC Invest)• Mining City• MineRift• Mint Builder• Mirollex• Mirror Trading International • MMM Global• MOBE (QualPay)• Model Farming• Monat• Monetize 911• MoneyTime• Monk Trading Investment• MultiplyWESA• MVR Life• My Blockchain Life• MyCOM• MyCryptoWorld• My Daily Choice• My Freedom in 365• MyGBit Mining• My Passive Trades• myWorld  (Lyoness)•Nacometa• Namiro • Nano Club • Nano Crowd • Navan Global (sold to Ariix)• NBH Finance (NBH Group)• Ncrease• Neora (formerly Nerium International) • NewChoyce• New Economic Evolution of the World (NEEW)• NextLevelX• Nexyiu• Nimbus Platform• Nominex• NortheStar• Nowsite Marketing• NRGY GO• NuSkin• Nussentials• Nu Xtrax• Nutonic•Omega Digital• Omegapro Forex • OneCoin • One Eco System (rebranded to OneLife Network) OneDealer AS Norway • OneLife Network • OneLink (Global Sponsorship Network) • OnPassive • Onward Capital• Oola Global• Open Alexa• Opportunity Network (sold to OneCoin)• Orientum • OrbiXVictus (AIM Global) • Orion Finance• Ormeus Global • Oro One• OSM Software Solutions• O'Snap• OXO Worldwide•PandaTron• Paparazzi Accessories• PartyLite• Passive Tron Profits• Paytron BTC• PBX Trading (former Premium Business)• PetronPay• Phenomenal Club• PIE 24/7• Pipz• Post 2 Profits• Praetorian Global International (PGI)• PlusToken (World Blockchain Forum)• PowerPost Profits• Powur• Primary the Ruling Class • Premium Business • Prime International Club• PrivaFund• Prizm• ProCash• Profit Connect• Project Lantern•QNet (rebranded from GoldQuest) • Qtrex• Quaestor Solutions (Quaestor Coin)• QubitLife (rebranded from QubitTech)• Questra World•R Network• RE247365• Recylix• Redwood Scientific Technologies• RengaLife• Riseoo• Riway• Robot22 Trade• Rostek Global• Royal Returns• Roy Club• Royal Q (Sec gov ph)• Safir International • Salvia• SamKoin• Scentsy• Scout & Cellar• SDK Meta• SeedChange• Senexa• SHA-256• ShynXL• Silver Icing• Silver Partners for Profits• SilverStar Live (renamed AI Global, and then again to Ai Expert Advisor)• Silwana Global• Sincere Systems (rebooted as S-Group)• SiteTalk • Six Sigma Trade• SkyWay Capital, CryptoUnits (rebooted to Unitsky String Technologies) • SmartHashes• SmashFund• SnapBots• Snap Delivered• SofTrade AI• Solar Group• Solar Oil Project• Solmax Global• Solvasa• Speed Finance Club• Success By Health• Success Factory• SuperDraft Pro (SuperSports Global)• Swag (Swag Mining, Swag Network)• SwapIT • SwissCoin •Tapestri• Team Travel MVP• TechVision• Telepreneur Corp• Teqra• The $100 System• The Happy Co• The Perfect System• The PLR System  The Prosperity Grid • The Token Network• TheClub.Travel• TelexFree• Toga Limited (reboot to Eostre Berhad)• Torque Trading (TORQ)• Touchstone Success• Torexo Finance• TRVL• Tradera• Trading Insight• Traffic Monsoon• TriumphFX• TronBase• TronCarry• TronCase• TronChain • Tronconomy• TronPlus• TronThunder• Trujivan• Trunited• Trust Investing• Tulian Investment• Turbo Crypto• Twindax• Twin TurboTRX• Unaico • Universal Abundance • Up2Give (U2G Network) • UpMoney• Upnomix• UR Worth It• Ushare• Uulala• Unity Line Builders• Upistic•Vantel Pearls• Vida Divina• Viral Compensation• Visalus Sciences• Viseming• Vitae• Viv• Vollara• VR Tron500• VRDa1•Wakaya Perfection (sold to LaCore Enterprises) WantageOne • WaterMine• Wazzub• We Share Abundance• Weter• Wiseling • Wiseming• Workxon• World Crypto Life• World Enhanced Wealth Ecosystem Global (WeWe Global) • WorldVentures (acquired by Verona International Holdings, rebooted as DreamTrips)• World Wealth Club •Xellis (former Natura4Ever)• XEMXLink• Xifra LifeStyle• Xtreme Pro System•YEP• Youngevity•Zax• Zeek Rewards• Zeniq Coin • Zeonis• ZetBull• Zomoney• Zukul Gold• Zukul Trading#BTC #Ponzi #ponzischeme #scammers. #Cryptoscam

Some top earners at least pretend to be remorseful about the millions they stole through OneCoin.Then there’s Kari Wahlroos, who in an upcoming documentary tells OneCoin victims to “kiss my ass”.Wahlroos, a Finnish national who describes himself as “one of the grandmaster orchestrators” of OneCoin, is set to feature in “OneCoin – The inside man”.Wahlroos was appointed an “ambassador” of OneCoin in 2015. He was demoted in December 2017, eleven months after OneCoin collapsed.Wahlroos didn’t disclose why he was demoted. OneCoin however put out an official statement, claiming Wahlroos had made consistent miscommunication and misrepresentation(s)”.Due to consistent miscommunication and misrepresentation of the OneLife Network operations and strategy, the management team of OneLife has taken the unfortunate decision to demote Mr. Wahlroos from all his activities and responsibilities for the Network.The company has experienced serious legal consequences, following Mr. Wahlroos’ behavior on and off stage, indirectly damaging its credibility and reputation.In a January 15th OneCoin – The Insider Man trailer, Wahlroos provides insight into his time at OneCoin.Personally I recall rumors of Wahlroos’ substance abuse dating back to as long as he’d been with OneCoin. For the first time Wahlroos himself publicly confirms the rumors.Did I drink alcohol? Yes, every day.Did I use coke? Tons of it.On the money side of things, Wahlroos claims he received 2% of OneCoin investment throughout Europe.Finland was making €5 million a month, I get two percent. Germany was making €10 million a month, I get two percent. Russia was making €2 million a month, I get my two percent.And after a few months we were in €200 million a month. Kiss my ass.Wahlroos claims that, in OneCoin’s best year, he generated €1.4 billion in stolen funds. 2% of this amount comes to €28 million.While acknowledging that only “very few people” made money, Wahlroos states anyone who “wasn’t making €100 thousand a month” in OneCoin was a “fucking idiot”.Wahlroos’ depiction of OneCoin’s top earners is a sad group of middle-aged men preying on young women in Thailand.(OneCoin’s) top 20 leaders were invited to a special gentlemen’s club. With these Thai girls, with these sex parties.Sebastian (Greenwood) takes a girl and goes fuck her. (He) comes back and takes another one. He was using his money and power to seduce girls.Greenwood (in the grey suit), co-founder of OneCoin with Ruja Ignatova (pink dress), was sentenced to twenty years in prison in September 2023.Circumstances are unclear but Wahlroos goes on to claim whoever is left running OneCoin, at some point tried to assassinate him.I felt the numbness and dizziness coming into my face. They tried to fucking kill me.OneCoin has noted ties to organized crime interests in Bulgaria, Russia and Dubai.Laundering money stolen through OneCoin was a large coordinated effort spanning multiple countries. According to Wahlroos, OneCoin’s operations in China resulted in “a lot” of deaths.China began cracking down on OneCoin in 2016. As of May 2018, around 160 OneCoin related arrests had been made. As part of their investigations, Chinese authorities also managed to seize $7.1 million belonging to Greenwood.US authorities have pegged OneCoin losses at around €4 billion euros. Wahlroos pegs total OneCoin losses closer to €14 to €15 billion.That Wahlroos and other OneCoin top earners have faced no repercussions, is an ongoing indictment of Europe’s inability and/or unwillingness to hold those responsible for OneCoin accountable.Today Wahlroos is promoting Global NFT Group, a Ponzi scheme built around PNGVN tokens and an NFT grift.OneCoin – The inside man is being produced by Orlando John, a film production company based out of Sweden. No release date has been set.#onecoin #onecoinmultiplechains #CryptoScamExposed #Ponzi #CryptoScamAwareness