Elamant has been rebooted as an eDuCaTiOn PlAtFoRm.

Underneath the marketing pitch is the same Ponzi scheme people have been losing money to since 2018.

Elamant launched in 2018 as a clone of the collapsed Saivian Ponzi scheme.

This didn’t come as a surprise, seeing as Elamant owner Ryan Evans (right) was a former Saivian executive.

The ruse behind both scams was to solicit investment, get investors to hand over worthless receipts, pretend receipts were generating external revenue, pay out returns with new investment for as long as possible.

After pillaging Japan and Africa for a year or so, Elamant appears to have collapsed around late last year or early this year.

A marketing video touting Elamant’s new education platform was uploaded to YouTube on May 9th.

It’s not worth getting into Elamant’s education platform (not that any details are provided), as it has nothing to do with returns paid to affiliates.

Elamant affiliates pay a $99.95 Premium membership monthly fee to get started.

There are cheaper membership options but, like the education platform, they have nothing to do with Elamant’s MLM opportunity.

Elamant’s Premium affiliate membership fee can be negated by recruiting and maintaining three Premium membership affiliates (you earn $33 a month per Premium affiliate recruited, capped at three affiliates).

From there it’s the same Ponzi returns seen in Elamant’s original compensation plan:

  • Consultant (maintain three personally recruited Premium affiliates and have a downline of 12 affiliates) – $100 a week ROI
  • Senior Consultant (personally recruit and maintain four Premium affiliates and have a downline of 40 affiliates) – $180 a week ROI
  • Executive Consultant (personally recruit and maintain five Premium affiliates and have a downline of 80 affiliates) – $280 a week ROI
  • Manager (personally recruit and maintain five Premium affiliates and have a downline of 150 affiliates) – $720 a week ROI
  • Senior Manager (maintain five personally recruited Premium affiliates and have a downline of 300 affiliates) – $1200 a week ROI
  • Executive Manager (maintain five personally recruited Premium affiliates and have a downline of 500 affiliates) – $1530 a week ROI
  • Director (maintain five personally recruited Premium affiliates and have a downline of 750 affiliates) – $1800 a week ROI
  • Senior Director (maintain five personally recruited Premium affiliates and have a downline of 1000 affiliates) – $2300 a week ROI
  • Executive Director (maintain five personally recruited Premium affiliates and have a downline of 2000 affiliates) – $3300 a week ROI
  • Wood Executive (personally recruit and maintain six Premium affiliates and have a downline of 4000 affiliates) – $4800 a week ROI
  • Fire Executive (personally recruit and maintain seven Premium affiliates and have a downline of 6000 affiliates) – $7000 a week ROI
  • Earth Executive (personally recruit and maintain eight Premium affiliates and have a downline of 8000 affiliates) – $9000 a week ROI
  • Metal Executive (maintain eight personally recruited Premium affiliates and have a downline of 16,000 affiliates) – $12,250 a week ROI
  • Water Executive (maintain eight personally recruited Premium affiliates and have a downline of 30,000 affiliates) – $18,000 a week ROI
  • Elamant Executive (maintain eight personally recruited Premium affiliates and have a downline of 50,000 affiliates) – $38,462 a week ROI

Note that to meet downline targets;

  • no more than 50% of a recruitment leg is counted for Consultants and Senior Consultants
  • no more than 40% of a recruitment leg is counted for Executive Consultant through Senior Manager
  • no more than 30% of a recruitment leg is counted for Executive Manager through Executive Director
  • no more than 25% of a recruitment leg is counted for Wood Executive through Earth Executive
  • no more than 20% of a recruitment leg is counted for Metal and Water Executives
  • no more than 15% of a recruitment leg is counted for Elamant Executives

A recruitment leg is created each time a new Premium affiliate is recruited.

Elamant tracks downlines via a unilevel compensation structure.

A unilevel compensation structure places an affiliate at the top of a unilevel team, with every personally recruited affiliate placed directly under them (level 1):

If any level 1 affiliates recruit new affiliates, they are placed on level 2 of the original affiliate’s unilevel team.

If any level 2 affiliates recruit new affiliates, they are placed on level 3 and so on and so forth down a theoretical infinite number of levels.

Whereas Elamant’s original ruse was “we’re selling your receipts for big money”, now it’s “getting our affiliates to do work”.

What work exactly?

Ah well, you see… Elamant aren’t clear on that.

Supposedly Elamant has its affiliates perform

support, education, online or offline training, or other beneficial services to Elamant Team Members.

Needless to say whatever busybody work Elamant does or doesn’t have its affiliates perform, returns are clearly paid out of subsequent $99 a month investments.

As with the Saivian receipts model, there is no external revenue being generated.

Elamant’s affiliate ranks and promised returns are identical to the collapsed “give us your receipts” ruse.

The SEC sued Saivian and owner Eric J. Dalius in November 2018. Ryan Evans was added as a defendant in October 2019.

The SEC allege Saivian was a $165+ million dollar Ponzi scheme.

A trial was originally scheduled for March 2021, however COVID-19 saw that pushed back to November.

Our last update from a few weeks ago was noting the case had been sent to mediation.

We’ll continue to monitor the case. In the meantime what you want to take away Ryan Evans is a defendant in a US regulatory case.

Despite that he continues to scam victims via the same conduct outside of the US.

Regardless of how hard the SEC wind up skewering Evans, this won’t end well for investors dumb enough to fall for the same scam twice.

 

Update 2nd June 2023 – Elamant’s official YouTube channel has been closed. This means the cited May 9th Elamant marketing video in this review is no longer accessible.

The review originally contained a link to the review, which I’ve now disabled.

I believe Ryan Evans may have closed Elamant’s YouTube channel as part of a Saivian fraud settlement reached with the SEC on May 31st.