Cancri Jewelry Review: Jewelry storefront Ponzi in Turkey?
Cancri Jewelry provides no information on its website about who owns or runs the company.
Cancri Jewelry’s current website domain (“cancrijewelry.diamonds”), was privately registered on December 23rd, 2021.
Cancri Jewelry originally operated from “cancri.jewelry”, privately registered on December 22nd, 2021. Why the company changed website domains is unclear.
Cancri Jewelry markets itself as “the largest jewelry store in Europe and Asia”. No sales figures to back up this claim are provided.
In an attempt to appear legitimate, Cancri Jewelry provides a corporate address in Turkey on its website.
The address is represented to correspond to a Cancri Jewelry branded building:
Google Maps shows, at least as of April 2022, that the building does in fact exist as depicted:
The building also features in Cancri Jewelry’s marketing videos:
Other than having a branded building in Turkey however, Cancri Jewelry otherwise doesn’t appear to have any ties to the country.
Cancri Jewelry marketing videos are all in Russian and feature Russian speaking actors.
Cancri represents it has a “call center” in Ukraine. Other than a phone number though, no details are provided.
On November 17th 2021, the Central Bank of Russia issued a Cancri Jewelry financial pyramid warning.
Associated Cancri Jewelry domains cited by the CBR include:
- cancri-jewelry.net (abandoned)
- cancrijewelry.net (Turkish version of homepage, dead website)
- cancri-jewelry.com (abandoned, Bulgarian hosting)
- cancri-jewelry.site (Russian version of homepage, dead website) and
- cancrijewelry.diamonds (primary website, active)
Cancri Jewelry’s website features both Russian and Ukrainian web services:
We can conclude from all of this that Cancri Jewelry is run by Russians and/or Ukrainians, pretending they’re based out of Turkey.
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.
Cancri Jewelry’s Products
Cancri Jewelry has no retailable products or services.
Affiliates are only able to market Cancri Jewelry affiliate membership itself.
Cancri Jewelry’s Compensation Plan
Cancri Jewelry affiliates invest funds on the promise of advertising returns:
- invest €100 EUR and receive 3.5% a week for 364 days (182%)
- invest €900 EUR and receive 5% a week for 364 days (260%)
- invest €2700 EUR and receive 5.5% (?) a week for 364 days
- invest €8100 EUR and receive 6% a week for 364 days (312%)
The €2700 EUR tier appears to be mislabeled on Cancri Jewelry’s website (same ROI as the €300 EUR tier), hence I’ve marked it with a question mark.
The MLM side of Cancri Jewelry pays on recruitment of affiliate investors.
Cancri Jewelry Affiliate Ranks
There are sixteen affiliate ranks within Cancri Jewelry’s compensation plan.
Along with their respective qualification criteria, they are as follows:
- Beginner – generate €100 EUR in downline investment
- Manager – generate €300 EUR in downline investment
- Senior Manager – generate €1000 EUR in downline investment
- Golden Manager – generate €3000 EUR in downline investment
- Diamond Manager – generate €10,000 EUR in downline investment
- Mentor – generate €20,000 EUR in downline investment
- Senior Mentor – generate €50,000 EUR in downline investment
- Golden Mentor – generate €100,000 EUR in downline investment
- Diamond Mentor – generate €250,000 EUR in downline investment
- Master – generate €500,000 in downline investment
- Senior Master – generate €1,000,000 in downline investment
- Golden Master – generate €2,000,000 in downline investment
- Diamond Master – generate €3,000,000 in downline investment
- Managing Director – generate €10,000,000 in downline investment
- Golden Managing Director – generate €25,000,000 in downline investment
- Diamond Managing Director – generate €50,000,000 in downline investment
Note that downline investment includes a Cancri Jewelry affiliate’s own personal investment volume.
Cancri Jewelry pays referral commissions 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.
Each Cancri investment pays a 20% referral commission. This is a coded commission, paid as per the following qualification criteria:
- Beginners earn a 5% referral commission rate
- Managers earn a 6% referral commission rate
- Senior Managers earn a 7% referral commission rate
- Golden Managers earn an 8% referral commission rate
- Diamond Managers earn a 9% referral commission rate
- Mentors earn a 10% referral commission rate
- Golden Mentors earn a 12% referral commission rate
- Diamond Mentors earn a 13% referral commission rate
- Masters earn a 14% referral commission rate
- Senior Masters earn a 15% referral commission rate
- Golden Masters earn a 16% referral commission rate
- Diamond Masters earn a 17% referral commission rate
- Managing Directors earn an 18% referral commission rate
- Golden Managing Directors earn a 19% referral commission rate
- Diamond Managing Directors earn a 20% referral commission rate
The coded nature comes into play when affiliates lower than Diamond Managing Director earn a referral commission.
20% is paid on all Cancri Jewelry investment.
Let’s say a Mentor signs up an investor. They earn their 10% referral commission rate. This leaves 10% of the total 20% referral commission rate still to be paid out.
The system searches upline for the first Golden Mentor or higher to pay the balance out to.
Let’s say a DIamond Master is found first. They receive 7% (17% minus the 10% already paid out). This leaves 3% still remaining to be paid out.
The system then searches further upline.
- if a Managing Director is found first, they receive 1% (18% minus 17%), leaving 2% to be paid upline
- if a Golden Managing Director is found first, they receive 2% (19% minus 17%), leaving 1% to be paid to the first Diamond Managing Director upline
- if a Diamond Managing Director is found first, they receive the full 3% remaining balance
Note that any time a Diamond Managing Director receives a referral commission, it is either the full 20% on their own recruits, or whatever balance is left on a referral commission passed upline.
In this manner higher ranked Cancri Jewelry affiliates can earn referral commissions passed up from anywhere in their unilevel team.
Joining Cancri Jewelry
Cancri Jewelry affiliate membership appears to be free.
Full participation in the attached income opportunity requires a minimum €100 EUR investment.
Cancri Jewelry Conclusion
The marketing ruse behind Cancri Jewelry is that investors are purchasing jewelry. Something something ROI and, after 364 days, they can go pick up ordered jewelry from Cancri Jewelry’s storefront.
Or, and this is the far more probable course of action, affiliate investors just keep their ROI and don’t bother about the jewelry.
Whether it’s actually possible or not to collect jewelry irrelevant to Cancri Jewelry operating as a Ponzi scheme.
While appearing to have a storefront in Turkey is certainly interesting (as far as due-diligence goes), it’s also immaterial to Cancri Jewelry operating as a Ponzi scheme.
Certainly Cancri Jewelry is bit more high production than your typical Russian crypto Boris CEO Ponzi. But beneath the flashy marketing videos, staged events and actor videos, you’ve got the same fraudulent business model.
You invest, Cancri Jewelry takes that money and pays other investors, and you hope recruitment keeps up so you can steal someone else’s money.
Unfortunately that doesn’t appear to be the case for anyone having recently invested:
While early Cancri Jewelry investors were no doubt Russians and Ukrainians, today the majority of investors are in France, Germany and Hungary.
Earlier this year Cancri Jewelry attempts to make inroads into the US:
That didn’t go anywhere. And so was followed up by a push into Europe in April:
I beleive this is behind recent recruitment in France, Germany and Hungary, which has now run its course.
As you can see from SimilarWeb tracking above, Cancri Jewelry recruitment across the board is down almost 50% month on month over the past two months.
In what appears to be an attempt to find new victims, Cancri Jewelry has been hyping a hopeful spread into neighbouring Georgia.
Whether that catches on remains to be seen.
As with all MLM Ponzi schemes, once affiliate recruitment dries up so too will new investment.
This will starve Cancri Jewelry of ROI revenue, eventually prompting a collapse.
The math behind Ponzi schemes guarantees that when they collapse, the majority of participants lose money.
Update 16th February 2023 – Cancri Jewelry collapsed in December 2022.
A month later the scammers behind the Ponzi scheme announced a Cancri Jewelry reboot.