My 24 Hour Income Review: 130% ROI adcredit Ponzi fraud
My 24 Hour Income launched a few months ago. Drew Burton and Faheem Rajput appear on the My 24 Hour Income website, however their specific roles within the company are not disclosed.
Drew Burton is based out of Canada and appears to be a serial MLM underbelly inhabitant.
Prior to launching My 24 Hour Income Burton (right) was promoting Click Delivery (130% HYIP Ponzi scheme), Zukul Ad Network (adcredit Ponzi scheme), My Paying Ads (HYIP Ponzi scheme) and Fort Ad Pays (adcredit Ponzi scheme).
Fort Ad Pays collapsed on or around May 27th, 2016. In a Facebook post dated May 23rd, Burton boasted of having 305,760 investment positions within the company ($305,760).
Despite the collapse Burton continued to recruit new victims into the scheme. In a Facebook post dated June 22nd, Burton boasted of having “maxed out” his Fort Ad Pays account with 407,647 investment positions.
According to Burton’s backoffice at the time he had stolen $149,105 from Fort Ad Pays victims. How much of that money he was able to withdraw is unclear (Fort Ad Pays suspended withdrawals in early May).
Burton went on to launch My 24 Hour Income a month later in July.
Faheem Rajput is based out of Pakistan and is currently busy promoting ZF Share, a 135% ROI Ponzi scheme he launched around the time Fort Ad Pays collapsed.
Read on for a full review of the My 24 Hour Income MLM opportunity.
The My 24 Hour Income Product Line
My 24 Hour Income has no retailable products or services, with affiliates only able to market My 24 Hour Income affiliate membership itself.
The My 24 Hour Income Compensation Plan
My 24 Hour Income affiliates invest $5 to $75 in Ad Pack Plans, on the promise of an advertised 110% to 130% ROI.
How much of a ROI is paid out is determined by how much a My 24 Hour Income affiliate invests:
- Ad Pack Plan 1 – invest $5 and receive a 110% ROI
- Ad Pack Plan 2 – invest $15 and receive a 115% ROI
- Ad Pack Plan 3 – invest $35 and receive a 120% ROI
- Ad Pack Plan 4 – invest $75 and receive a 130% ROI
In order to earn up to 3.8% a day, My 24 Hour Income affiliates must view eight company-supplied ads a day.
Referral commissions are available on funds invested by downline affiliates, paid out down three levels of recruitment (unilevel):
- level 1 (personally recruited affiliates) – 8%
- levels 2 and 3 – 2%
Joining My 24 Hour Income
My 24 Hour Income affiliate membership is tied to an investment of $5 to $75.
My 24 Hour Income is your typical adcredit Ponzi scheme.
Affiliates invest up to $75 a pop on the promise of an advertised ROI, with that ROI funded by subsequent investment.
Can I get a refund?
No Refunds Are Given.
The moment the payment enters our system, it is no longer your money, and it certainly is our money. It belongs 100% to ALL members because we shared those revenue with EVERYBODY!
In a weak attempt to justify financial fraud, My 24 Hour Income claims their adcredits somehow negate the Ponzi aspect of the scam:
Is my24hourincome considered a scams or Ponzi schemes or an Illegal online business?
NO. Any program that claims a ROI but has NO PRODUCT IS A SCAM! But my24hourincome Advertising Platform
sells ADVERTISING SPACE!
My 24 Hour Income’s advertising credits are neither here nor there. They serve only as pseudo-compliance, with the SEC reaffirming that attaching adcredits to Ponzi schemes doesn’t make them legitimate.
Having participated in multiple Ponzi schemes and ripped off who knows how many victims, Drew Burton is well aware of the nature of My 24 Hour Income.
As with all Ponzi schemes, once recruitment of new affiliates dries up My 24 Hour Income will be unable to meet its ROI obligations.
ROIs are paid daily via affiliate backoffices which, as Burton discovered in Fort Ad Pays, isn’t real money until it’s actually withdrawn.
Reinvestment will compound affiliate losses, with the majority of affiliates not realizing My 24 Hour has collapsed until it’s too late.
Update 31st December 2016 – My 24 Hour Income collapsed in late November. Burton has been stalling for a month and now a mandatory reinvestment relaunch has been announced.