Nelo Life Exposed: The Scam Artists Behind the MLM Ponzi Scheme That Keeps Changing Names

 

Nelo Life is the latest incarnation of a string of failed MLM scams, previously known as TranzactCard and FinMore.

This company has a history of name changes, deceptive promises, and misleading recruitment tactics designed to siphon money from unsuspecting investors.

Under the guise of selling travel discounts and wellness products, Nelo Life primarily operates as a recruitment-driven pyramid scheme that preys on mums and dads looking for financial security.

Danny de Hek aka The Crypto Ponzi Scheme Avenger

As someone who exposes Ponzi schemes and fraudulent MLMs, I have been tracking Nelo Life and its network of scammers. My mission is to prevent people from falling victim to these bottom-feeding fraudsters who thrive on deception.

The Revolving Door of Deception: TranzactCard → FinMore → Nelo Life

• TranzactCard: Originally pitched as a revolutionary financial product, TranzactCard promised wealth-building opportunities but fell apart due to regulatory issues and outright lies about banking partnerships.
• FinMore: A quick rebranding attempt that continued to deceive investors. It collapsed just as fast, proving it was nothing more than a cash grab.
• Nelo Life: The latest iteration of this scam, created to escape the bad press associated with its previous versions. This rebrand is nothing more than an effort to siphon off what remains of FinMore’s and TranzactCard’s member base.

The Scammers Behind Nelo Life

• Nick Sorensen, Eric Allen, Larry Lane, and Orkan Arat: These individuals are the co-founders of Nelo Life, and their past involvement in failed MLMs speaks volumes. Arat’s name was initially hidden from public view, a clear red flag.
• Jenis B. Minaya: Aggressively promotes Nelo Life as a “financial freedom” opportunity while silencing any critics who ask legitimate questions. I was personally kicked out of a WhatsApp group for questioning the legitimacy of the company.
• Peter Rancie: A frontman for TranzactCard and FinMore who shamelessly attempted to shift blame for their failures onto external factors like “regulatory issues” and “social media unrest.”
• Richard Smith: The convicted fraudster who ran TranzactCard and FinMore, extracting millions from victims. Despite “resigning,” his influence is still present in Nelo Life’s business structure.
• Randy Schroeder: An MLM veteran who had a public meltdown when TranzactCard was exposed as a scam. He deleted evidence of his involvement and quickly moved on to pushing Nelo Life.
• Ed Zimbardi: A convicted felon and known financial fraudster. Zimbardi’s involvement in Secure Admin Group (SAG) and the Nelo Life trading scam shows his continued efforts to defraud people through unregulated trading schemes.

Nelo Life’s MLM Structure: A Classic Pyramid Scheme

• $59 Monthly Membership Fee: Members must pay a recurring fee, with earnings largely dependent on recruiting new victims rather than selling actual products.
• Referral-Driven Model: Like all pyramid schemes, recruitment is the main way to make money. Once the recruitment slows, the entire system collapses, leaving most people with financial losses.
• Unverified Income Claims: The company makes grand promises about financial freedom, yet provides no proof that the majority of its members earn sustainable income.
• Silencing Critics: As seen in my own experience, Nelo Life and its promoters refuse to answer questions and instead remove anyone who challenges them.

Fraudulent Investment & Trading Connections

• Secure Admin Group & LifeElevated (Nelo Trade): Nelo Life has launched a fraudulent investment platform that uses unregulated forex trading to deceive members.
• SpydrFX & Spydr Capital: These entities, promoted by Darik Alexander and Cameron Kerkar, claim to offer trading opportunities but are tied to Zimbardi’s fraudulent schemes.
• Mugan Markets: A shell brokerage run by Ed Zimbardi, used to launder stolen investor funds. This platform has been linked to past financial scams and is a known red flag.

Regulatory Issues and Legal Red Flags

• TranzactCard’s Fake Banking Claims: The company falsely claimed partnerships with major banks, which were later debunked.
• Securities Fraud Concerns: The unregistered trading opportunities offered through Nelo Life and its affiliates violate financial regulations and put investors at risk.
• False Crypto and Trading Claims: The company’s so-called “passive income” opportunities are tied to shell entities that exist purely to funnel money into Ponzi-style scams.

Final Warning: Avoid Nelo Life and Its Fraudulent Founders

Nelo Life is nothing more than a recycled scam designed to extract money from new recruits while enriching those at the top. If history tells us anything, this company will eventually collapse, leaving thousands of victims in financial ruin—just like TranzactCard and FinMore.

If someone like Jenis B. Minaya, Nick Sorensen, Eric Allen, Larry Lane, Orkan Arat, or any other promoter tries to recruit you, ask yourself:

• Why does this company keep changing its name?
• Why is recruitment the primary focus instead of actual product sales?
• Why are legitimate questions silenced?

These are the hallmarks of an MLM Ponzi scheme, and Nelo Life fits the bill perfectly. Stay away and warn others before they become the next victims of this never-ending cycle of fraud.