CoinMD on the verge of collapse, Tom McMurrain asking for $100,000
In a “State of the Union” video published a few days ago, Tom McMurrain has revealed CoinMD is facing a “financial hurdle”.
CoinMD has grown quickly – in fact too quickly and we have run out of operating capital. This is a good and bad problem.
Pending injection of new investment, McMurrain has threatened to “close the doors” by the end of the month.
According to McMurrain (right), CoinMD is going through a “short-term cash crunch”.
[00:49] The solution is a lot of people who have a vested interest pitching in (and) offering to help a little bit to fix it.
In attempt to raise funds, McMurrain launched a crowdfunding campaign on Crowdfunder.
[1:12] The Crowdfunder campaign is live and I’m committed to achieving the $100,000 goal.
If we do not reach this goal we may have no choice but to close down CoinMD by the end of the month.
We need a minimum of say a thousand members, who are willing to invest $100 or more to keep the CoinMD vision and mission alive.
Those that do invest have been promised equity, CoinMD tokens and commissions “to sell to a future member, so you can recoup your investment”.
In other words McMurrain is looking for new CoinMD bagholders, or existing bagholders to take on more bags.
Then, in true Ponzi fashion, the only way to recover losses is to offload said bags onto new bagholders.
As per a response received from Crowdfunder support, as of a few hours ago Crowdfunder has removed McMurrain’s CoinMD campaign.
The CoinMD campaign was removed from our platform.
CoinMD launched in mid 2017. The company’s business model is essentially “blockchain something something I wrote an ebook on Amazon once something something healthcare”.
At the core of the business are CoinMD and CoinRewards tokens, which McMurrain generates on demand at little to no cost.
Through the CoinMD compensation plan, CoinMD and CoinRewards tokens are dumped on investors.
Neither token is publicly tradeable and thus they hold no value outside of CoinMD itself.
The MLM side of the business is your typical MLM cryptocurrency hype model with pyramid recruitment.
Since inception neither CoinMD or McMurrain have registered with the SEC, meaning the company operates illegally in the US.
Leaning into his former OneCoin downline, McMurrain managed to carve out a gullible group of investors from Nigeria.
At the time of publication Alexa estimates that roughly 73% of traffic to the CoinMD website originates out of Nigeria.
Neither McMurrain or CoinMD are registered with the Nigerian SEC either.
Meanwhile whether anyone in Nigeria has healthcare through CoinMD is unknown.
The company does not provide any audited disclosures to the SEC or its investors.
This includes how much has been invested in CoinMD since 2017, what invested funds have been spent on and how much is left.
Outside of CoinMD, McMurrain also operates what he calls the “Titan Trading Club”.
Hello CoinMD Family,
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Titan Trading Club is LIVE and if you have a Silver Membership or above the $4995.00 Annual Membership Fee is waived.
You definitely want to check this out – CLICK HERE (tracking link broken)
Titan is an “in-house” Team Alliance Partnership so your CoinMD Team is protected and you can now start generating $1500 daily BTC commissions starting today.
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Here’s an idea; perhaps McMurrain can “prequalify” himself for a $100,000 unsecured loan.
I mean if it’s good enough to push onto CoinMD investors, why not “be a product of the product” and save CoinMD in the process?
Sure beats begging Nigerians for more money…
Update 7th March 2019 – In a followup email set out to CoinMD affiliate investors, Tom McMurrain is now claiming all is well.
Update 20th July 2019 – Tom McMurrain has taken the “State of the Union” video referenced in this article offline.
The crowd funding link is already down. I’d award extra exit scam style points if it was Tom who reported himself.
As far as the Alexa rating, that just tells you when Tom stopped buying bot traffic, he’s been in the organic traffic sewer for more than a year.
I wonder what Tom’s Parole Officer thinks about his “choice” of occupation? I guess Tom doesn’t think the terms of his Parole apply to him and the Ponzi’s he has continued to pimp.
I guess he thought as long as he wasn’t running them he wasn’t violating his conditions of Parole.
Then he started CoinMD and now he can’t make that claim. I don’t think his Parole Officer would agree that he has not violated his terms/conditions of Parole. That is if he knew what Tom has been doing.
Sorry, false alarm:
My most abject and profuse apologies to Mr. MacMurrain for suspecting he might have sabotaged his own crowdfunding effort.
No matter how good an exit scam excuse it would have been (better in fact than the ranking champion “dengue fever” excuse by a program admin in the American mid west) I should have known that Tom is a bottom dollar dude.
Coin MD 1.0 or 2.0, meet the new boss, same as the old boss and that same old boss might well be kicking himself that in the last calendar year Panamanian teak and noni futures out performed crypto by a good percentage.
Juheezuz that looks like a complicated mess.
Let me finish what I’m doing then I’ll get into it.
New name – old fraud?
Please I want to know the bottom line of all these…. Are you saying coinmd now cmdx is all SCAM???
CMDX is Tom McMurrain’s OneCoin Ponzi spinoff. All Ponzi schemes are scams.
At what point does King get so desperate that he appeals to the last bit of OC faithful for direct funding?