Publisher Michael Sander, who runs Obtainer Online, has started promoting the Bonofa scheme, less than a month after using his magazine to defend another fraudulent operation. Bonofa began prelaunch in early 2013, promising affiliates earnings through a revenue-sharing model connected to a social network called Cube7. Cube7 has not launched a year later, but Bonofa has collected between €299 and €2,490.90 from investors expecting returns.
Sander’s publication, which he markets as "The world's most trusted source for direct selling news," ran a promotional article for ViziNova on April 16. ViziNova promised investors 150-166% returns on investments ranging from $1,000 to $3,000. The company was founded by Renato Rodriguez and Gutemberg dos Santos, two former top investors from WCM777, a nearly identical Ponzi scheme the SEC shut down in the same month.
Sander claimed ViziNova held no resemblance to WCM777. Company founders Rodriguez and dos Santos made millions at WCM777. ViziNova even retained Kingdom Trade platform as its payment processor, a system inherited directly from the defunct WCM777 scheme. Unconfirmed reports also suggest ViziNova would honor cryptocurrency points from WCM777's failed KingdomCoin system.
Sander's promotional pieces did not mention his prior consulting role with WCM777. According to available information, he assisted WCM777 founder Phil Ming Xu in establishing money laundering routes. These routes allegedly moved Ponzi funds offshore through shell corporations in the UAE.
On his own magazine's bio page, Sander describes himself as an individual who "lives and works in a tax haven, has set up more than 2,000 offshore companies for clients and still administers some of them." He also states he "deals with investment strategies and investment opportunities."
When his involvement with ViziNova became public, Sander addressed the situation on Facebook. He wrote, "To answer the question whether I was a consultant for WCM and Kingdom777 or some leaders who worked there: Yes, but that was never a secret." He added, "Am I looking (after) Vizinova? Well yes. Just as I was there for many companies and am and will be in the future. It's my job."
Lebanon has emerged as a significant recruiting area for Bonofa. Lebanese blogger Gino Raidy reported earlier this month that Garbis Zambakjian, one of Bonofa's affiliate managers, was arrested there.
