Power On Network’s sham partnership with Exergonix terminated
If you want a shot at marketing Ponzi points these days, you need to attach yourself to something that resembles legitimacy.
Traditionally in MLM this is known as “legitimacy by association”. It’s akin to placing a rotten apple next to a gold bar and claiming the apple has value.
The apple is still rotten and worthless, regardless of the value of the gold bar.
BehindMLM reviewed Power On Network in late 2016 and identified it as a Ponzi points scheme launched by former Crypto 888 Club scammers.
Power On Network wanted to sell off their worthless XeCoin points, and so a sham relationship with Exergonix was created.
Exergonix operate in the renewable energy niche and at no time had anything to do with Power On Network’s MLM opportunity or the value of XeCoin.
Power On Network just needed Exergonix name for marketing purposes. Case in point, right here on BehindMLM:
How can you explain the partnership of this perfectly legitimate US Company Exergonix
with these notorious scammers like Allan + Thorsen + Venczel multimilion dolar valutation and pretty impressive tech, What is the deal here?
The trouble with legitimacy by association is, unless they’re in on it, the legitimate company starts to ask questions about the rotten apple.
Those questions lead to uncomfortable squirming and again, unless the legitimate company is on it, sooner or later the penny drops.
In a July 20th press-release, Exergonix announced they’d terminated their partnership with Power On Network back in May.
Exergonix, Inc. terminated its relationship with Global Power Pte. Ltd d/b/a PowerOnXpress (“GP”), Nigel Sandor Allan, Bjorn Thomas and Jarle Thorsen on May 9, 2017 as a result of GP’s multiple breaches of its agreement with Exergonix.
Despite numerous written and telephone requests for information about GP’s financial health and its fiduciary compliance as represented to members of the PowerOn network by Messrs. Allan, Thomas and Thorsen, they failed to provide any details as required under the agreement.
This was despite the fact that GP prepared materials for Don Nissanka, as the CEO of Exergonix, to present to members that indicated GP had agreed that Exergonix would monitor GP’s fiduciary compliance pursuant to an agreement between Exergonix and GP.
Ponzi schemes can’t achieve fiduciary compliance, so it’s hardly a surprise Power On Network only provided Exergonix empty reassurances.
Messrs. Allan, Thomas and Thorsen’s repeated refusal to provide any information to Exergonix about the financial health or legal compliance of GP — as they had contractually agreed to do — left Exergonix with no other choice but to terminate the relationship with GP and Messrs. Allan, Thomas and Thorsen because there was no way for Exergonix to determine whether GP was compliant with its financial and fiduciary obligations.
Power On Network’s whole business model relied on duping investors XeCoin’s were somehow tied to Exergonix though, and so they ignored the partnership termination.
Since the termination, we have become aware of allegations that Exergonix ended its relationship with GP with no warning and without explanation, and we have become aware of GP communications to its members making those allegations.
In multiple written communications, Exergonix gave GP and Messrs. Allan, Thomas and Thorsen months to disclose information about how they were spending members’ money and to demonstrate operations of the company were legal.
Exergonix explained this failure as the reason for termination in the May 9 termination letter.
In the May 9, 2017 termination letter to GP and Messrs. Allan, Thomas and Thorsen, Exergonix also advised GP that they no longer had permission to use the names Exergonix, Bioauctus, Neighborhood Power, Verd2Go or any other affiliate of Exergonix and that they should cease and desist from doing so immediately.
And it seems, in true Ponzi fashion, Power On Network are now attempting to blame Exergonix for what will probably be a collapse.
Since the termination, we have become aware of allegations that Exergonix ended its relationship with GP with no warning and without explanation, and we have become aware of GP communications to its members making those allegations.
In multiple written communications, Exergonix gave GP and Messrs. Allan, Thomas and Thorsen months to disclose information about how they were spending members’ money and to demonstrate operations of the company were legal.
Exergonix explained this failure as the reason for termination in the May 9 termination letter.
Left with no other recourse if they want to preserve the legitimacy of their own business operations, Exergonix claim they plan to sue.
They have not only continued to use Exergonix’s intellectual property, but have falsely misrepresented to PowerOnXpress members that they continue to have a relationship with Exergonix affiliates.
It has also come to Exergonix’s attention that Messrs. Allan, Thomas and Thorsen have interfered with Exergonix’s business relationships.
Exergonix plans to file a lawsuit against GP, Messrs. Allan, Thorsen and Thomas for this interference, for resulting damage to its business, and to protect its business interests.
So the partnership was a sham, that much we already knew. What does that mean for Power On Network investors though?
As per our BehindMLM review, Nigel Allan Bjorn Thomas and Jarle Thorsen make their money by selling unsuspecting affiliates worthless XeCoin points.
They pocket your money and you’re left hanging on false promises of XeCoin conjuring up demand and value.
That was never going to happen anyway, regardless of whether Exergonix was on board or not.
The public aren’t interested in XeCoin, any more so than they are the plethora of similar MLM Ponzi point variations out there that exist.
And Power On Express affiliates themselves certainly aren’t going to buy points off themselves at a grossly inflated value.
As I write this the Power On Network is offline. In the wake of Exergonix flexing its muscles, I’d be willing to wager Allan, Thomas and Thorsen have already done a runner – along with everyone’s money.
Unaico Scam leader Rune Evensen (Old boss of Mr Greenwood & Bjorn Thomas and old partner of Jarle Thorsen) start his scam by open coss.io again, with his alcohol buddy Harek, guys, check this out! Scam legend reborn!
Seems like alot of the Ponzi points scammers have realized it’s more profitable creating schemes for others, getting a lump sum upfront and then moving onto the next launch.
As opposed to launching their own scheme, taking investor funds and then having to keep the ruse going until you think of an excuse to initiate a collapse.
coss.io of Rune Evensen launch sth like “Coin’s Basket” ROI scheme, with a well suit outside only, money game inside.
Oh boy. You guys aighn’t gonna believe this one! Chris Principe, on stage ….you guessed it.
Title: “EXERGONIX Bangkok Thailand S2 Part3 huge Training XECoins Mr./ Chris”
youtube.com/watch?v=bOBiX8xIG74
So, ummm, just bad luck, or what??