BFF Crowdfunding has collapsed following a fraud warning from the Australian Securities and Investments Commission.

BFF Crowdfunding
, which also went by BFF Global Network, was a 400% ROI Ponzi cycler. The scam was run by Mike Taylor, a US resident of Texas.

On April 11th ASIC issued a
BFF Crowdfunding fraud notice
, warning the MLM company

is likely to be offering financial services to Australian consumers [and] does not hold an Australian financial services licence or Australian credit licence from ASIC, and is not authorised by a licensee.

This is the equivalent of a securities fraud warning in other jurisdictions.

At time of publication BFF Crowdfunding’s website has been pulled offline.

BFF Crowdfunding scammers were still promoting the Ponzi scheme up until April 12th or so…

…so it appears the collapse and BFF Crowdfunding’s website being pulled coincides with ASIC’s fraud warning.

Another likely contributing factor is BFF Crowdfunding’s continued decline in website traffic throughout 2024.

SimilarWeb tracked ~55,000 monthly visits to BFF Crowdfunding’s website in January 2024. This plummeted to just ~12,000 monthly visits in March.

Top sources of traffic to BFF Crowdfunding’s website for March 2024 were the US (37%, down 94% month on month), Australia 33% (up 83% month on month) and the UK (18%).

The spike in BFF Crowdfunding recruitment in Australia throughout March is likely what triggered ASIC’s warning.

BFF Crowdfunding’s social media operates through BFF Global Network, a private FaceBook group numbering ~6000 members.

In addition to Mike Taylor, admins of the group include Kim Pitton, Kelly Clayton-Budd and Amanda Chism.

In the wake of BFF Crowdfunding’s collapse, Taylor doesn’t appear done scamming people yet. On April 15th Taylor posted a “new opportunity alert”:

Sounds like another Ponzi cycler but at time of publication I don’t have anything further. Pending any additional details, we’ll keep you posted.

🤖 Quick Answer

What was BFF Crowdfunding and why did it collapse?
BFF Crowdfunding, also known as BFF Global Network, was a fraudulent investment scheme operating as a 400% ROI Ponzi cycler run by Mike Taylor from Texas. The platform collapsed following an April 11th fraud warning issued by Australia's Securities and Investments Commission, which determined the company operated without proper financial services licensing.

What regulatory action did ASIC take against BFF Crowdfunding?
ASIC issued a formal fraud notice on April 11th, declaring that BFF Crowdfunding was offering financial services to Australian consumers without holding an Australian financial services licence or credit licence. This regulatory action is equivalent to securities fraud warnings issued in other jurisdictions worldwide.

How did BFF Crowdfunding's operations end?
BFF Crowdfunding's website was taken offline following the ASIC fraud warning

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