EmGoldex Review: 540 EUR investment scheme
There is no information on the EmGoldex website indicating who owns or runs the business.
On the EmGoldex wbesite there is an “about program” section, on which it’s claimed:
The Emgoldex Trade Dmcc is registered in a certified free economic zone Dubai Multi Commodities Centre – DMCC.
The Emgoldex Trade Dmcc company is registered and obtains the licence in the free economic zone Dubai Multi Commodities Center for trade in Gold and Precious Metals all over the world. The company operates with the maximum profit for its customers.
Who registered the company however is not disclosed.
The EmGoldex website domain (“emgoldex.com”) was registered on the 19th of April 2011, however only “Emgoldex Trade DMCC” is provided as the registered owner of the domain. Who exactly owns this company remains a mystery.
As always, if a MLM company is not openly upfront about who is running or owns it, think long and hard about joining and/or handing over any money.
The EmGoldex Product Line
EmGoldex list various gold bars from third-party suppliers on their website, however if one tries to purchase anything an affiliate login in required.
EmGoldex’s product range infact appears to be that of unrelated third-party vendors. The company itself doesn’t appear to market anything other than 540 EUR matrix positions.
The EmGoldex Compensation Plan
The compensation plan explanation provided on the EmGoldex website is attrocious.
The “terms of a marketing program” provided make little sense and is clearly designed to confuse the reader. Here’s a snippet:
If to the order of the buyer maximum compensation isn’t charged after passage of two cycles of the Main table, the Owner of the order has the right to finish the Order at the expense of money resources to the full sum of execution of the order and to receive bars of investment gold or to receive already available bars from storehouse or to sell them back to the company. The order will be considered as finished. The buyer can issue a new order by reinvesting 540 credit bonuses for 2 more cycles.
A much simpler to understand “affiliates only” slideshow presentation appears to have been published by the company, and reveals that the EmGoldex opportunity revolves around a simply 540 EUR buy-in from affiliates.
This presentation can be found widely circulated by EmGoldex in a number of languages, primarily being Spanish, Portuguese and Russian. The same slideshow is used, indicating that this is an official company presentation.
As such, this is what I have based the EmGoldex compensation plan analysis below on.
Matrix Commissions
When an EmGoldex affiliate buys into the compensation plan for 540 EUR, they are placed in a reverse 2×3 matrix.
A reverse 2×3 matrix feeds an affiliate who has just paid their 540 EUR buy-in fee, through the bottom of a 2×3 matrix.
A 2×3 matrix has fourteen positions in total, eight along the bottom, four one level up, two the next level up and one position at the top. level 3.
Commissions are paid out once the bottom level (eight positions) are all filled. At this point 3500 EUR is paid on the position at the top of the matrix, and two new matrices are created from the two positions directly under the paid position.
Note that EmGoldex charge a 7% fee on the 3500 EUR commission, meaning an affiliate actually is actually paid 3255 EUR.
This creates two independent rows of empty 8 positions (the previous eight positions move up a level to form two new level 3 levels in their respective matrices), which must be filled in order for the matrix to split again.
In this manner, when a newly recruited EmGoldex affiliate pays their buy-in fee, they are fed into the bottom of an existing 2×3 matrix. When all eight positions are filled, they move up to the four position level.
When the eight positions below them are filled, they move up to the two position level. And when the eight positions of that matrix are filled, they move up to the two position level, and then again finally to the payment level.
A total of four lots of 8 are required for an EmGoldex affiliate to see a return on their 540 EUR buy-in. Note that this figure could be slightly less, depending on how many positions are already filled in the first matrix they are placed at the bottom of.
Once a position is paid out on, I believe an EmGoldex affiliate is entered into the bottom of another matrix. From here the process repeats itself again.
One 540 EUR position is able to cycle through twice, after which an affiliate must invest 540 EUR again if they wish to purchase another matrix position.
Matrix Commission Qualification
Using the matrix structure described above, it’s important to note that a 3500 EUR commission payout is payable only if an EmGoldex affiliate meets the following recruitment requirements.
In order to qualify for the full 3500 EUR matrix commission, an EmGoldex affiliate must recruit 2 new affiliates in the same level they are initially placed in. They must then do the same when they move up a level, filling out two of the newly created eight empty positions below them with two personal recruits.
If an affiliate fails to recruit these new affiliates while they are in the first and second level of a matrix, they earn a reduced amount. The EmGoldex compensation plan does not mention how reduced this commission payout is.
Also note that it’s not explicitly mentioned, but I believe affiliates who do not recruit are still paid a matrix commission, albeit well below the advertised 3500 EUR amount.
Joining EmGoldex
Affiliate membership to EmGoldex is 540 EUR. An affiliate may spend more than this when they join the company, depending on how many matrix positions they wish to purchase.
Conclusion
Using the familiar reverse-matrix compensation plans that were popular a few years back, EmGoldex simply changes what the plan is attached to. Instead of travel discounts, this time around it’s gold bars.
Unfortunately the recruitment-driven nature of the compensation plan remains. Under the guise of “investment in gold bars”, EmGoldex is little more than a 540 EUR Ponzi buy-in scheme.
Affiliates buy in for 540 EUR, and when 26-32 new investments have been made (variable depending on how many of the original eight positions have been filled when the buy-in is made), a 3500 EUR is paid out.
A pyramid scheme element exists on top of this, with EmGoldex affiliates being paid a variable ROI, subject to their personal recruiting efforts. Capped at the recruitment of four new affiliates (who all must buy-in), anything less results in a lesser ROI payout.
As far as gold goes, it’s correlation within the EmGoldex business model is nothing more beyond the offering of conversion of an affiliates 3500 EUR. An affiliate can opt to be paid in cash or gold (transport fees apply unless the gold is picked up).
There is no gold purchasing or selling, unless an EmGoldex affiliate is paid out – and then only if they opt to be paid in gold. Up until that point, EmGoldex are simply taking new affiliate funds (in EUR, not gold) and using them to pay off existing investors.
If an affiliate opts to keep their ROI with EmGoldex, the company charges a 0.1% monthly fee on the balance. This is done under the guise of being a “storage fee”, however in reality is just another fee charged to affiliates to keep more money trapped in the system.
Retail in EmGoldex is non-existent, with all money flowing in via their MLM business being from affiliates. A “webshop” features on the EmGoldex page, but if one clicks the shopping cart item, affiliate login details are required.
As such, all payouts in commission to affiliates are naturally sourced from affiliates, creating a closed-loop Ponzi/pyramid scheme hybrid.
Once affiliates stop buying new positions, the matrices stall and nobody gets paid. EmGoldex make 7% on every 3500 EUR affiliate payout, so at that point the admin cuts and runs – leaving anyone with an uncycled matrix position holding the bag.
Update 4th July 2015 – In June 2015, EmGoldex changed the name of their company to Global InterGold.
Ponzi suspended in colombia:
http://www.larepublica.co/emgoldex-suspendida-en-colombia-ser%C3%A1-investigada-tambi%C3%A9n-en-panam%C3%A1_122716
I’m classifying EmGoldex as a TelexFree reload scheme. Even though it was launched prior to TelexFree being shutdown, there’s a noticeable spike in Alexa traffic the day TelexFree went down (mid April).
I’m not surprised South American nations have already began to crack down, their local Ponzi pimps are on a rampage of financial destruction.
Alert in Panama: http://www.conaval.gob.pa/attachments/article/4778/EmGoldexPanama_ing.pdf
and some article:
http://www.newsroompanama.com/panama/7705-red-flag-alert-over-panama-gold-pyramid-scheme.html
We’ve been seeing (unconfirmed) reports here and there of lots of Brazilian (even though their HQ are in Spain or China) scams not paying affiliates and the old “our systems are being upgraded” excuses.
That makes me wonder: are people getting smarter or is there so many scams and scammers to the point that no one can gather enough people under their “wonderful and inovative” companies anymore?
These illegal pyramid operators only have so many excuses they can use, so “the system is down/being upgraded” is not only reasonable to believe, but it is often attached with “the growth has been so EXPLOSIVE that we crashed/need to upgrade in order to handle it!!!”
And while there may be Ponzi/illegal pyramid elements involved, this is mostly an illegal pyramid, as the participants are active AND the outside view is of an MLM nature. Ponzi schemes are passive and have a many-to-one external appearance.
Both. I have friends who lost money once in Telexfree, they told me that “Fool losing once yes, but fool to lose twice not.”
In my area maybe 30% re-entered this type of arrangement. But as it has some 200 pyramids operating here in Brazil, most are not revenge, a large part of them are not with these excuses system update, hacker invasion, banks can not process your transanções, among other stuff.
As duas coisas. Tenho amigos que perderam dinheiro uma vez na Telexfree, eles me falaram assim “Bobo de perder uma vez sim, mas bobo a ponto de perder duas vezes não”.
a minha região talvez uns 30% voltaram a entrar neste tipo de esquema. Mas como tem umas 200 piramides operando aqui no Brasil, a maioria não está vingando, uma grande parte delas não estão com essas desculpas de atualização do sistema, invasão de hacker, bancos que não conseguem processar suas transanções, entre outras coisas do tipo.
We saw this with Zeek. That had no less than fifteen or so penny auction reload scams going at one point.
They all collapsed and today are all pretty much dead, shut down or collapsed.
The reload scams never gather as much momentum as the company they emulate. That company was “succesful” due to its ability to rope in the masses, not just those at the top who made money.
All these reload scams have some faction of affiliates who were in at the top, hoping to make it all happen again. Trouble is people already dumped their life savings into the previous company, so these new ones are cash starved once the top pimps put their seed money in and expect miracles.
It’s amusing to watch, because those at the top tend to get quite frustrated when things don’t pan out as they envisioned.
Reminds me of the OneX / QLXchange scam that T Le Mont promoted back in the day.
It’s a stupid attempt to disguise a pyramid by claiming that 540 EUR matrix fee as an incomplete “order of investment gold” (which they hold for you).
(Much like Lyoness claims the AU payments are for “down payment on gift cards”, eh?)
hello I am a member of Emgoldex and i am in Belgium.
Belgium is the most difficult country in accepting MLM it is highly illeagal here. your sik prison and paying a high debt.
Unlike countries like Portugal , France etc where the law is much more flexible in Belgium it is very difficult..
I Have checked the legality of emgoldex with a specialized lawyer in this sector. Why ? because it is in my interest to recruit as much people as possible without being purchased in the futur for proposing illegal business.
It is not in my interest to make 10 ,000 K one day and then having to pay back with a 50,000 debt for it and risking prison.
After doing the necessary I can prouwdly say that Emgoldex is 100 % Legal and there is no risk with this company.
The money invested is 100% risk free so if you do not find any partners to invest then you simply get your money back. I have witnessed people get their money back because they couldn’t find 2 partners.
The company gives it back after maximum 18 month.
As for oz i have not seen one single MLM that you have not criticized. I appreciate you wanting to warn people, indeed there are a lot of MLM’s that are illegal as the lawyer with whom i work will guide me threw, but not ALL MLM’s are illeagal and scams.
Maybe you’ve been victim of a scam in the past , but that doesn’t mean that every MLM is. Some of them are real opportunities.
like we say in french:
Faut pas mettre des batons dans les roues de tout le monde.
Good luck finding out what that means 🙂
Have a nice day.
Irrelevant.
What sector would that be? It sure wasn’t MLM compliance.
Wasn’t Gerry Nehra was it? He sounds right up your alley.
The necessary what? Man, talk about a bullshit fail. This guy is so messed up his crap does even make sense.
Says who and based on what? New affiliates investing into the scheme? That’s hardly risk free.
You don’t get anything “back”. They pay you with newly invested funds. No new suckers = no payments. This is known as a Ponzi collapse.
I don’t write the comp plans, I just review them.
I see you have your copy of scamming 101 there. You’ll have to do better than reciting chapter 1 back to me though.
Try chapter 2; “you’re just negative”.
“I invested my money in a Ponzi scheme like an idiot and don’t mind ripping off those who invest after me”?
Lol…. thanks for the giggle oz
I have the opposite impression. In Belgium, pyramid scheme cases are being handled in commercial courts = civil party against other civil party (e.g. person versus company). It’s normally being handled as a “dispute between companies”.
Can you point to ONE pyramid scheme case in Belgium to prove your story about “how difficult it is in Belgium”? It will need to be a relatively updated story, not too old.
* “Test-Aankoop v. Herbalife” (December 2011) was appealed to an appeal court, and it reversed the commercial court’s decision (late 2013). It even accepted new evidence to be added.
Lets examine just one single “order table” of Emgoldex.
To complete one table it is necessary for 15 people to buy 500 EUR worth of “gold”. That is 7500 EUR total. Remember, at this state, according to terms of Emgoldex everyone still owns their 500 EUR gold and can get it/cash out “any time”.
Now when the leader of the table gets paid their 3500 EUR minus 7% aka 3255 EUR worth of “gold” the total owned “gold” of the table becomes 10755 EUR!
If we repeat the steps with “order table” splitting then at step 17 there is approx 524 million EUR worth of purchased gold and 1016 million or 1 BILLION EURO worth of “owned gold” thanks to “commissions” for recruiting new fools.
Obviously the pushers of this fishy Ponzi scheme bank on the fact that no more that 50% of the people will simultaneously cash out, lot of money is stuck in frozen order tables, there is gold keeping “fee” etc.
And when too much people want to cash out and there are no more fools in the world to recruit, the site will disappear with no traces just like many other similar scam sites.
I am not sure about this…they have product and ive seen the physical gold product myself…any company will collapse if there are no buyers of their products…so why treat emgoldex differently…so you cannot call investors as “Suckers” in my opinion.
Because in MLM you can’t launch an investment scheme and wash away the Ponzi by classifying affiliate investors as retail customers.
There’s no significant retail activity in EmGoldex, which is further emphasized by the company soliciting investment in countries they can’t even deliver gold to.
All that’s happening here is the shuffling of newly invested affiliate funds to existing investors.
When it comes to Emgoldex investors, no other adjective is more accurate.
Take note…the leader of the table gets paid 3500 EUR not once but twice!, a total of 7000 EUR. Only 7% goes to Emgoldex.
About 500 EUR which is just so small compaired to rewarded amount for “share holder” (not investor or sucker).
The share holders can go back to re enroll themselves or family members and the flow of enrollies just rotate on and on that the amount of new members won’t be exhausted.
Or if it may so exhaust, aii of the members will be rewarded before it happens. And or they can cash it out anytime within 18 months.
^^ Yeah but… it’s still a Ponzi scheme.
New affiliate money goes in and EmGoldex use it to pay off existing investors.
And they are investors, and most certainly suckers if they invest right before the inevitable Ponzi collapse (or regulators shut it down).
Thanks for the possible concern. On the other hand it could be a lawyer’s style to protect his company or an organization for possible bankruptcy.
To make false reports to its supposed opponent in business. Or their malignity to voice out their fear on things that might happen which is not so in reality. Instead of backing up the good intention of others, they invent fallsehoods to ruin them and those who benefit on them.
Say so that the topic in question fall out and gone away nowhere to be found. investors as you say so won’t be depressed so much unlike in stock market or other schemes that failed, because they were instrumental in uplifting the lives of others and they will just look forward for there turn to be blessed.
Also they aren’t became skeptics and brave to call names on others like suckers , etchetere. And the most, they don’t fall into the category of crabs crowling in a bucket full of same crabs pulling others down for some wierd intention, not helping, maybe they just want to be called the greatest out of nothing, goaless and less than useless.
^^ Yeah so I don’t know what any of that was about.
EmGoldex solicit new investment on the promise of advertised ROIs. They use said new investment to pay off existing investors, based on how much they themselves invested.
As such EmGoldex fits the definition of a Ponzi scheme.
..why dont you directly ask one by one ,one on one, those members?
you are insisting emgoldex is really a scam,
now tell us, suggest (Ozedit: BehindMLM is not the place to solicit personal investment advice.)
lol, if you are rich then why dont you stay there and be happy, or instead help us…
huh….
Right, because investors in a Ponzi scheme are obviously as unbiased as an actual compensation plan.
This review was based on EmGoldex’s own compensation plan and business model. There’s nothing to insist, based on the flow of money and how commissions are paid out, EmGoldex is a Ponzi scheme.
If you ask the people in the Matrix “are you in the Matrix”, what would they say? They’d say “You’re f***ing crazy, get away from me!”
If you ask the people in a scam “Are you in a scam”, what would they say? They’d say “You’re just negative, I need to get away from you!”
So asking them is really dumb. And it’s also really dumb for you to suggest it.
Do you not believe in government? How about Commonwealth of Massachusetts in the US file suit against EmGoldex and their US affiliates?
bostonglobe.com/business/2014/10/22/galvin-files-civil-fraud-charges-against-emgoldex/7GPhHjAZdkFmxraXezNDqL/story.html
Are they just “negative” too? Do they not understand the “business model”?
Chances are they know it far better than you do.
Learn about Sacrifies and Generousity how they work.
^^ You could do that but you’d be far better served educating yourself on the ins and outs of Ponzi schemes.
Hi! Happy new year companieros..
If i would be asked to choose between insurance or bank scheme and that emgoldex scheme. The latter is more generous, never would wait for a proof that one of my body parts is defective or gone before I’ll get my finances that all goes only to the hospital.
I therefore compare not the emgoldex to other businesses but only to insurances or life plans.
Ponzi schemes usually are, until new suckers joining for you to steal money from slows down.
But don’t worry, the Ponzi scheme industry is highly regulated.
…oh wait.
Except insurance industry usually has a state level commission watching over them… and Ponzi schemes are illegal.
Thus, your comparison is bogus.
It is so funny to read all the stupid posts from even more stupid people.
The facts is that you don’t have a clue what you are talking about. In a pyramid scheme you don’t get any product and all your money is payed up in the pyramid. In a pyramid you are getting paid for recruiting people.
In the average MLM company 85% of the people are not getting paid, or paid very little. In Emgoldex 85% are getting paid and the first payment is not so small – €3255 in pure 24 carat goldbar.
In this company no one is getting paid for recruiting new customers.
If you “fail” in this company you are still getting paid – €500 worth of gold. Lastly, the comapny has been around for almost 5 years. Must be a very solid pyramid this company 😉
False.
EmGoldex is a Ponzi scheme. Herp derp.
Cmon now, you just totally pulled that irrelevant statistic out of your arse.
Not withstanding that Emgoldex themselves admit they can’t ship gold worldwide, you and I both know this is false (and irrelevant).
EmGoldex pay out cash. Gold is only an option if requested (and nobody requests it, except in a token sum they might receive at a conference to then use for marketing purposes).
False. You steal 500 EUR from those who invest after you. Gold is neither here nor there.
Ponzi schemes pay out for as long as investors such as yourself continue to join and invest in them.
I agree, yet you EmGoldex investors continue to pop up and defend your scam.
You’re only going to run into a brickwall trying to explain the legality of a Ponzi scheme to anyone with half a brain.
The problem is Emgoldex is mainly a Ponzi scheme. Thus, your explanation is irrelevant.
If you bark, at least bark at the right tree.
eservices.dubaided.gov.ae/Pages/Anon/TNSrch.aspx?1=1&PID=10106&LID=&sname=Search_Trade_Names&srp=-1&sfn=-1&ifn=51332578&pn=173956&pn2=
Emgoldex Trade – DMCC is a registered trade name in the government of Dubai. haters gonna hate 🙂
@Gai
A registered Ponzi scheme is still a Ponzi scheme. And what is a registered trade name? Exactly that – just a name.
Scammers gonna register their scam’s name and scam?
scams like zeek, telexfree, were all duly registered with full legal fanfare. they had offices and staff, and distributor agreements as long as your arm.
a fraud, ponzi or pyramid, remains a fraud, even if it’s registered in triplicate.
don’t be naive, gai, wake up.
Ginos Pizzeria and Pasta House is a registered trade name in my country.
Doesn’t mean Gino can run a ponzi scheme in his spare time, though.
For other “registered trade name” cases, see Securities and Exchange Commission v. Bernard L. Madoff and Bernard L. Madoff Investment Securities LLC.
See Securities and Exchange Commission v. TelexFree Inc. et al.
See Securities and Exchange Commission v. Rex Venture Group LLC et al, commonly known as the Zeek Rewards case.
See UNITED STATES OF AMERICA v. 8 GILCREASE LANE, QUINCY, FLORIDA 32351 et al, commonly known as the AdSurfDaily Inc. case.
That a company or “program” has a business registration with a government body is not proof that no scam is occurring.
PPBlog
@Gai, wake up, you can register any name but you can sell and do beyond your registry name. wait and see that Dubai authority (DMCC) will go to their office and investigate this scam.
Does Dubai Authority knows that emgoldex recruit people? Emgoldex is an online shopping of Gold as a front to deceive authority.
In their website, did they actually say in order for you to get a big returns, you need to recruit and complete the table? Why does people are so eager to recruit 2 persons, do you think they think to help those people, NO! they actually think if they get 2 persons they will get a big returns once the table is completed.
Only few people take a gold, what are they going to do with the gold anyway? first it is too hard to sell but instead use a strategy to sell back to emgoldex to get the cash instantly. and some members are using coupons to sell to a new recruit to avoid the hassle of bank transfer and to avoid being questioned if the bank transaction transfer is being paid between few days of interval.
So tell us, where did you get the money without selling gold and without recruiting someone after 2 recruits? where did this money come from when you get paid in 8 cycles without doing anything but to await people to join in to complete another table to get paid again?
isn’t it comes from the downline who paid the initial gold purchased worth 540 Euro?
they said is a teamwork, yes it is a teamwork because if one person cant fill in the 2 tables, the other member will help him/her for them to complete the table to exit and get paid right away.
Their office in Dubai is no longer active and they have a new gold partner in Switzerland in which the company is like unknown when you search in google.
There never was an office in Dubai. At least not how EmGoldex represented it.
As for a new gold partner, more Ponzi BS. Only a token amount of funds invested in EmGoldex is actually used to purchase the gold.
Hi,
to Oz : where did you get this information?
Best
Nobody gets paid in gold in EmGoldex. The only time you ever see it is when people hold up those sliver bars at marketing events.
People do however withdraw cash. Where do you think the funds for those withdrawals comes from?
Yep, newly invested funds.
It’s right there in the compensation plan.
Oz – you are stupid, broke and envious! I have been with this company since April 2014 and I have made a fortune in gold, (which I have collected on site in Münich).
You are making assumtions and accusations without any information on your hand. Why is it so hard to accept the fact that this company delivers? And, why is it so hard for you to realize that there are success in this industry for those who are doing a good job.
Most important is that more than 1300 persons who joined after me has made between €3000 and up to €45000.
PS. Even if you “fail” you will still get gold worth of €500. How is it possible for this to be a ponzi if no one losing their money?
Ok, the structure reminds of a pyramide but it surely does look the same at your shitty workplace
Congratulations, you are one of the few people who requested their Ponzi ROI to be paid out in gold.
Your ROI was still funded via a Ponzi investment business model though.
You and your downline getting in early and stealing from later investors is neither here nor there.
No, you don’t.
EmGoldex needs new investor funds to pay you and your buddies.
Join the scheme, don’t recruit any new investors and get placed in a stalled matrix. Then email the company up and demand 500 EUR, let us know how that works out for you chief.
Because as long as you and your buddies keep recruiting new investors into the scheme, they will pay out.
At some point new investment will slow down, and that will trigger the inevitable collapse.
You won’t care though, you got in early and from the sounds of it have stolen thousands. Shame on you.
I have well read your review and a thought came to my head.
Assuming the EmGoldex has enough money (Ozedit: I’m going to stop you there. Ponzi schemes rely on newly invested funds to pay off existing investors. They never have “enough money”.
Let’s not assume the impossible.)
I understand the concept of “not assuming the impossible”. However, (Ozedit: No.)
@gai
They have registered a name… But their license? TERMINATED!
Boy, these EmGoldex defenders do have a hard time understanding how the world works.
Just a quick FYI for you guys: the main offices are supposedly in Seychelles, but if you look for the company you will find out it doesn’t exists. Also they say their gold provider is GLOBAL SWISS TRADE SA, an anonymous company registered in 2013.
Soooooo yeah, this sounds totally legit!
Can’t understand why these emgoldex fans not growing a brain?
they’re simply milking their downlines of their payout and once there are no more recruits they’ll find out that they’re been duped.
@Riyadhi — they have a brain. It’s just that they’re in a “reality inversion field”. Their mind is on a different “reality” than yours. It is no use talking to them. Best you can do is talk to the people who CAN be talked to.
It is much like talking to the crazily religious people. You know those… crazy enough to KILL people. But these scammers and victims are even MORE pathetic because they are doing it for money.
As Prophet Mohammed (blessed is His Name) said, “He who cheats us is not one of us”.
Based on all the comments i have read….i clearly understand now but I don’t know how to let other people whom i know that they might risking their money on this…
oh well, maybe it’s to late to tell them anyways because they already invest their money and some are saying… they already exit and got their money back.
Its only vital to say those going into this is taking their own risk. well for the matter any fund any shares and any person there is risk.
the common people’s target is ROI. You signing and paying after understanding.
The attraction is the return. No one bothers to check whether its black listed or not.
Those shares not blacklisted or in the not in the watch list do collapse. BNM could do anything. nope. And this is a online business.
^^ Nothing there justifies EmGoldex being a Ponzi scheme.
That you know you’re ripping off those you recruit is neither here nor there.
It could have been if it had been limited to your own personal risk. But you can’t use it as an argument for bringing in other people. “They take their own risks” isn’t a valid argument there.
You can use “it’s my own risk” to defend your own investment, but you can’t extend that argument to include all the other investors. You can’t assume that your own “World View” is the only relevant one, some type of “God’s Gift to the World”. 🙂
You actually do try to extend your own “World View” to other people?
* “the common people’s target is ROI” seems to include the majority of the world’s population.
* “No one bothers to check …” seems to exclude all other “World Views”.
It’s most likely “relatively correct”, e.g. many people probably know more or less exactly what they’re doing, and few people will bother to check official blacklists and similar sources (most people probably don’t know where to find them, and they’re probably not very interested in that type of stuff).
I didn’t understand those arguments?
* “Those shares not blacklisted”. I have no idea which shares you’re talking about there.
* “Those shares are not in the watch list”. Same as the previous point. “I have no idea”.
* “BNM could do anything”. BNM can be Bank Negara Malaysia, or it can be something else. Identifying one authority to be the “wrong authority” may be relevant enough, but it won’t exclude that other authorities may be the right ones.
* “And this is a online business” isn’t a meaningful argument in itself. There’s some information missing in that argument, e.g. “laws will only apply to regular offline businesses, not to online frauds (and here’s the source for that conclusion)”.
I would like to know if there is a lawyer that I can contact for this Emgoldex Pyramid scam to file a law suit against them.
I had paid them $775 us dollars on 9/11/2013 and not a single penny back. I also have another friend who also did it as well.