AI Trade Review: Bot trading crypto Ponzi scheme
AI Trade provides no information on their website about who owns or runs the business.
The AI Trade website domain (“aitrades.org”) was privately registered on May 9th, 2018.
Official AI Trade marketing videos feature Mark Davis;
On his personal website, Davis “promotes crypto” and cites himself as an Australian “author and speaker”.
To what extent Davis is involved in the operation of AI Trade is unclear.
Update 27th September 2020 – Mark Davis has been in touch to advise;
AI Trades started by Joff paradise, not by me and RV Palafox.
I made videos for AI Trades as communications officer. I was a consultant for about 8 months only.
Other AI Trade marketing videos suggest the company operates out of Kiev, Ukraine. That none of this is disclosed on the AI Trade website is telling.
As always, if an 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.
AI Trade Products
AI Trade has no retailable products or services, with affiliates only able to market AI Trade affiliate membership itself.
The AI Trade Compensation Plan
What we know about the AI Trade compensation plan at this point is somewhat vague, but enough to confirm it’s an MLM company.
AI Trade affiliates invest bitcoin on the promise of an unspecified ROI.
AI Trade affiliates are paid an unspecified recruitment commissions when they recruit new affiliates who invest.
AI Trade offer both matrix and binary residual commissions.
I can’t say for sure but I’m pretty confident one of these is used to pay a residual on downline investment. The other is a residual on downline ROI payments.
Joining AI Trade
AI Trade affiliate membership is free, however affiliates need to invest bitcoin to participate in the attached income opportunity.
Each bitcoin investment generates an additional $149.99 fee.
Note that all transactions within AI Trade are made in bitcoin.
AI Trade claim to take 55% of invested funds and use it to generate a ROI through AI robot trading.
This is the default business model of pretty much every MLM cryptocurrency Ponzi scheme that has ever launched.
AI Trade provide no verifiable evidence of any AI robot related activities taking place.
There are videos of an AI Trade office somewhere in Kiev on YouTube, wherein trading supposedly takes place. However this is not a substitute for audited accounting by a third-party.
And it’s not like AI Trade aren’t aware of their regulatory obligations to investors.
Buried in the AI Trade Terms and Conditions is acknowledgement the company is operating illegally worldwide.
No documentation of AI (Global) Trade have [sic] been filed with or approved or disapproved by the Securities and Exchange Commission (“SEC”) or any other state of federal governmental agency or any national securities exchange.
The problem with the “we have AI robots” business model is, if you had a golden goose AI robot capable of generating infinity returns, why would you be selling it to randoms over the internet for $149.99 a pop?
The answer to that is why every “AI robot trading” MLM cryptocurrency company to date has been a Ponzi scheme.
All AI Trade have done is recycle the same scam and slapped on a new coat of paint.
Might have worked six months ago, but after umpteen collapses convincing people you have magic AI trading bots isn’t so easy.
Joff Paradise is the owner of Ai Trade. He lives in Kiev, Ukraine. He is also involved with Trade Coin Club.
Here is a video of Joff Paradise talking about his new company Ai Trade.
Another video of Joff Paradise talkiing about his new Company Ai Trade.
Lives or hiding out? What are the odds someone going by “Joff Paradise” lives in the Ukraine…
Love the “trading” proof too. Two guys sitting in front of monitors looking at exchange charts. Lulz.
Good question Oz. Apparently his real name is Jeffrey Webb.
I suppose this is the Russian/Ukraine equivalent of Asian scams that hire a white guy to front.
At least Webb looks the part so there’s that.
Jeffrey Webb aka: “Joff Paradise” was a Huntington Beach, California guy who also spent time in Vegas (of course) and allegedly has quite the history of domestic violence, small time theft, numerous bad business and personal relationships, a collapsed Trade Club Coin ponzi fraud scam with “crypto trade bots,” and even accusations of a murder(!!!)
There’s a nice fat rat’s nest of dirt on the dude, who acts like your typical, “No, I’m legit bro,” scammer. I bet you can find a ton more than I found if you can get some of his TCC victims to talk.
Caution though! May be dangerous.
Last week I go to Kuala Lumpur for coming at AiTrades Malaysia Pre Launch. At event, co founder AiTrades come and give the explain to audience. 🙂
Did he explain how you’re going to lose your money bagholding for previous investors looking for new suckers?
did he explain that ‘pre launch’ is code for scam?
This guy Joff Paradise was/is actually the CEO of Trade Coin Club… Funny how he can continue to show his face and pretend nothing’s wrong when he’s recycling the same scam that hundreds of people lost money on.
You can even leave him a comment on his Facebook if you want: web.facebook.com/joff.paradise
Guys like this must be sociopaths. There’s no other explanation.