Global Intergold and EmGoldex – One face with two names
Like many other affiliate programs, EmGoldex, started in 2011 claimed to double the income by investing in their gold bars which came with Matrix Plan.
The Emgoldex Trade Dmcc was registered in a certified free economic zone Dubai Multi Commodities Centre (DMCC) but nowhere the names of the owners were disclosed.
Isn’t that surprising and at the same time suspicious.
I personally feel that there is always a hidden agenda when transparency is challenged and in the case of EmGoldex, everything was kept off record.
In addition, the affiliate program was similar to many other models that were found to be executing scam at the backend.
Usually MLM companies do not keep their promises. On top of that, investing in an MLM company without knowing the owners or responsible parties, will always be harmful.
EmGoldex and the controversies
EmGoldex has been always around controversies and US EmGoldex investors were charged under civil fraud in October 2014. Following the event Philippines SEC issued regulatory warning against EmGoldex in February 2015.
It didn’t end here. In April 2015, Central Bank of Malaysia placed EmGoldex on investment blacklist and Dubai Multi Commodities Centre warned EmGoldex not registered to trade in gold in the UAE in June 2015.
However, all these roadblocks were not enough and it continues to fool people by wearing the mask of Global Intergold.
This happened in July 2015 when EmGoldex changed its name to Global Intergold but the business model still is the same.
This was a cleaver move to disassociate its brand from Ponzi scheme but not cleaver enough to hide it for long.
EmGoldex Ponzi Scheme – Matrix Design
The EmGoldex scheme has 2*3 Matrix which continues when the investor buys the product paying 540 Euro.
Once the payment is made, the individual becomes the paid affiliate and gets the bottom position. The matrix moves in reverse order.
The matrix has total of fourteen positions.
Eight positions are along the bottom.
After that four positions needs to be filled which is one level up.
Two the next level up and one position at the top.
EmGoldex paid 3500 Euro which included its 2% commission after the first 8 levels were filled.
If an affiliate couldn’t recruit new affiliates while they are in the first and second level of a matrix, they were deemed to earn a reduced amount.
It was nowhere mentioned how reduced this commission payout was.
Global Intergold Scheme – Turning 540 Euro to 7000 Euro
The scheme starts with 540 euro. You need to pay this amount to activate your matrix position.
Unlike EmGoldex where money used to start rolling in after you have attracted enough new prey to be the guest of EmGoldex, Global Intergold delay the payment with 12 months.
The Global Intergold claims that an individual starting at the bottom level of the matrix position can get it back doubled in a year with recruitment of new investors.
If they fail to do so, the company will give back the initial invested amount. I am not sure, how much ground it holds.
As before, no one knows who the show’s hosts are. The domain was registered in January 2015 but the registration details are set to private.
This makes it obvious again that the ring masters are hiding behind their new mask.
Global Intergold – The controversies continue
As I stated earlier, EmGoldex was warned of his intentions in Dubai, Malaysia, Philippines and many other countries.
However, the fooling continues with a changed name of Global Intergold.
As we all have witnessed, illusions can’t be held longer. In a press-release of November 2015, titled “SEC stops global EmGoldex scam“, the agency proclaimed it has issued Global InterGold with a cease and desist.
The Global InterGold’s business model works on affiliate program and promises 7000 Euro ROI on the investment of 540 EUR. That ROI is backed by the affiliate who are recruited downline, making Global InterGold a Ponzi scheme.
Asst. Dir. Lalaine Monserate of the SEC’s Enforcement and Investor Protection Department (EIPD) quoted, “these entities operate a classic Ponzi scheme of making people investment cash by promising high return pay-outs through the recruitment of people.
These schemes cannot sustain for long and as soon as more people are recruited into the scheme, it ultimately reaches a point wherein it can no longer withstand its payouts, and payments will stop thereby leaving investors penniless.”
Global Intergold runs away from local business operations in the Philippines
This will not amaze you after already getting the insight of the goals and working ethics of Global Intergold.
Global Intergold after learning about the charges, put all the blame on the local investors and said that they had instructed their legal counsel of the “unscrupulous group” misusing its name for illegal investment-taking operations.
In addition, they informed it had already been intimated to the Philippine Securities and Exchange Commission (SEC).
Though EmGoldex changed its name, the operation never stopped and complaints never stopped which made the authorities take decision of questioning Global Intergold.
Based in Europe, Global Intergold doesn’t have any problems running away from Philippines as they are aware of the consequences.
The top investors are the same EmGoldex and the irony is they are going to be abandoned again.
The best part is, after Global Intergold runs away, they will be left alone to fight the authorities who will come looking for them.
The trust that they showed on Global Intergold has put them into jeopardy and now are being charged for the crime that was plotted by someone else.
It is always wise to choose your associates before you take big decisions. Incase you forget to do your homework, Global Intergold will have your neck.
I believe, if anyone think of investing in any MLM or affiliate program or scheme, he/she should think twice before doing it.
No wonder why people get attracted. They showcase the returns in such a manner that it imitates reality and make people even more vulnerable.