Magellan International Alliances is one another addition to the MLM niche. The website also provides an address in Ireland. However, when looked for more information, it was evident that the address was fake. And, it actually belongs to a different company.
When checked for more details about Company Formations International, the one that is registered to that address, it was found that this company is involved in incorporation services.
Jef Welch is the CEO of Magellan International Alliances who was recently appointed for the position. I even went through his Facebook profile only to know that Jef is based out of Georgia, USA. This signifies that the company is operated from the same location as well.
Coming back to the products, the company does not have any product or services that can be retailed. The only way to join this company is to become one of their affiliates. For joining the affiliate program, one must invest in their BitChips.
Past Records of Jef Welch
In his past, Jef has his name related to CGI Limited. During this time, he was charged for laundering funds tied to investment in unregistered securities. CGI Limited used to provide crypto gambling Services across the USA. As the services are banned in the USA, the company changed its name to CGI Global and changed a lot of operating strategies.
The company, Magellan International was incorporated only a few weeks after this happened. And, it seems to be a medium for marketing CGI Global’s BetChip altcoin.
Magellan International Alliances – Membership Plans
Bronze: Investment of $100 is required
- Bronze Elite: Investment of $500 is required
- Silver: Investment of $1000 is required
- Silver Elite: Investment of $5000 is required
- Gold: Investment of $10,000 is required
- Gold Elite: Investment of $25,000 is required
- Platinum: Investment of $50,000 is required
Magellan International Alliances – Compensation Plan
Magellan International Alliances encourages affiliates to invest in their BetChips for receiving huge rewards. The admins release the commission once the members recruit other affiliates who keep the circle going on.
- Bronze Plan: One must invest $100 for receiving $100 in BetChips
- Bronze Elite Plan: One must invest $500 for receiving $500 in BetChips
- Silver Plan: One must invest $1000 for receiving $1000 in BetChips
- Silver Elite Plan: One must invest $5000 for receiving $5000 in BetChips
- Gold Plan: One must invest $10,000 for receiving $10,000 in BetChips
- Gold Elite Plan: One must invest $25,000 for receiving $25,000 in BetChips
- Platinum Plan: One must invest $50,000 for receiving $50,000 in BetChips
Magellan International Alliances – ROI
The company pays daily ROI to its affiliate for a total of 8 months. This ROI starts after 60 days of joining the affiliate scheme. The ROI depends of the level of recruitment.
- Bronze: The bronze member receives total annual ROI of $100
- Bronze Elite: The bronze Elite member receives a total annual ROI of $250
- Silver: The silver member receives a total annual ROI of $500
- Silver Elite: The silver Elite member receives a total annual ROI of $1000
- Gold: The gold member receives a total annual ROI of $10,000
- Gold Elite: The gold Elite member receives a total annual ROI of $25,000
- Platinum: The platinum member receives a total annual ROI of $50,000
Magellan International Alliances – Commission
The company uses a uni-level compensation plan to pay commission for recruitment to the affiliates. In this structure, an affiliate is placed on the top and the personally recruited affiliates are placed right under the affiliate who recruits them.
There is a limit for the recruitment investment for each level at Magellan International Alliance.
- Bronze: 50 BV
- Bronze Elite: 250 BV
- Silver: 500 BV
- Silver Elite: 2500 BV
- Gold: 5000 BV
- Gold Elite: 12,500 BV
- Platinum: 25,000 BV
Keeping the cap at level 5 for recruitment commission payment, Magellan International Alliances pays the commission as follows for the different levels of recruitment.
- Level 1: 10%
- Level 2: 8%
- Level 3: 6%
- Level 4: 4%
- Level 5: 2%
Magellan International Alliances – Residual Commission
The company uses binary compensation plan to pay the residual commission to its affiliates. The company pays 10% of the invested funds.
Magellan International Alliances – Matching Bonus
The company also offers matching bonus for the residual commission generated through the personally recruited affiliates. The matching bonus is paid as the 5% of the residual commission.
The payment is made till 6 generations within a unilevel leg. The generation forms when the leg contains a navigator of higher rank withith the members. From here, the first generation starts and it goes on till the sixth level of generation.
- Generation 1: 15% match is earned on one generation
- Generation 2: 15% match is earned on the first generation and 20% on the second
- Generation 3: 15% match is earned on the first generation and 20% on the second and third
- Generation 4: 15% match is earned on the first generation, 20% on the second and third and 10% on the fourth
- Generation 5: 15% match is earned on the first generation, 20% on the second and third, 10% on the fourth and 5% on the fifth
- Generation 6: 15% match is earned on the first generation, 20% on the second and third, 10% on the fourth, 5% on the fifth and 2% on the sixth
Magellan International Alliances – Reviews
Nancy: Not a good start. Not ready to get scammed.
Manuela A: Bogus Opportunity.
The Conclusion form the above Reviews
People are aware of such scams and it is obvious through their comments. If you wish to save your time and money, do not invest in this setup.
The Verdict
This is the second attempt from the company to market their BetChips. However, the confusing and vague structure of the company can be easily noticed.
With all the data available with us, I can deem that the company is not involved in any business apart from autoship program. The funds invested by the new affiliates are used to pay the existing ones. This makes it a Ponzi Scheme.
The altcoin has no use in the physical world and remains valuable within the company’s platform. Also, once the recruitment will freeze, the ROI will also stop. The company will be shut without any warning and would be shut down.
Or else, the owners will again plan a similar tactic to market their altcoin. So, I would suggest keeping a distance from this plan.