Cash Back Marketing Review: PI launch $30 Ponzi
We last checked in with Perfect Internet back in 2014. The company announced it was going to offer virtual shares and an IPO in late 2015.
We Share Success, the virtual share platform, appears to have flopped. The planned IPO didn’t take place either.
With 2015 come and gone, Perfect Internet have kicked off 2016 with the launch of Cash Back Marketing.
“Cashback Marketing” or “CBM” or “Services” is a product of product of Perfect Internet Inc. with a registered office at 7251 W Lake Mead Blvd, Las Vegas, NV 89128 and with an administration/postal office at 3140N Rainbow Blvd, Las Vegas, NV 89108.
We Share Success Inc. manages Cashback Marketing.
Read on for a full review of the Cash Back Marketing MLM business opportunity.
The Cash Back Marketing Product Line
Cash Back Marketing has no retailable products or services, with affiliates only able to market Cash Back Marketing affiliate membership itself.
Once signed up, Cash Back Marketing affiliates can invest in “marketing units”.
Bundles with each marketing unit investment are a series of advertising credits, which can be used to display advertising on the Cash Back Marketing website.
The Cash Back Marketing Compensation Plan
The Cash Back Marketing compensation plan sees affiliates invest $30 in marketing units, on the promise of an up to 1% a day ROI.
There doesn’t appear to be any limit on the ROI paid out on each invested marketing unit.
Referral commissions are paid out on marketing unit investment 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 go on to 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.
Cash Back Marketing cap payable unilevel levels at five, with commissions paid out as a percentage of funds invested:
- level 1 (personally recruited affiliates) – 22%
- levels 2 to 5 – 2%
Joining Cash Back Marketing
Affiliate membership with Cash Back Marketing is free, however affiliates must invest at least $30 in order to fully participate in the offered income opportunity.
Marketing Units must be purchased in order for MEMBER to receive any cashback from Cashback Marketing.
Free Cash Back Marketing affiliates are only able to earn referral commissions.
Cash Back Marketing is a vast departure from Perfect Internet’s first offering, the failed search portal Wazzub.
Under the guise of “cashback”, all Cash Back Marketing does is recycle newly invested funds to pay off existing investors.
The ruse offered up is… well there really isn’t a ruse. Instead Perfect Internet are relying on pseudo-compliance to fend off potential regulatory interest.
Cashback can range from 0-1% daily with 1% being the daily maximum limit.
CASHBACK IS NOT AN INVESTMENT OR FINANCIAL PRODUCT OF ANY KIND.
AFFILIATE MEMBER IS STRICTLY PROHIBITED FROM PROMOTING OR ADVERTISING CASHBACK MARKETING AS ANY KIND OF FINANCIAL OR INVESTMENT OPPORTUNITY, SERVICE, OR PRODUCT.
Unfortunately referring to an investment as “cashback” doesn’t make it any less of an investment.
I deposit $30 with Cash Back Marketing on the promise of an up to 1% a day ROI? Yeah, that’s an investment.
Furthermore, the fact that the ROI is paid out of newly invested funds defines Cash Back Marketing’s offering as a Ponzi scheme.
Regarding the marketing units, they’re neither here nor there. Logically speaking is advertising on the Cash Back Marketing website was being sold, unused marketing would be refundable.
Instead, as per Cash Back Marketing’s refund policy:
THERE ARE NO REFUNDS ON MARKETING UNIT PURCHASES.
What with Cash Back Marketing using newly invested funds to pay off existing investors, refunds are impossible.
As far as I’m aware neither Perfect Internet, We Share Success or Cash Back Marketing are registered with the SEC. With a clear securities offering being made, this adds additional concerns about an unregistered securities offering.
In any event, once affiliate recruitment dies down, so too will new funds entering the scheme. Gradually Cash Back Marketing’s daily ROI percentage will drop, before eventually crashing out at 0%.
At that point the scheme will have collapsed, with Ponzi math guaranteeing the majority of Cash Back Marketing investors lose money.
Looking at the bigger picture, Wazzub was introduced all the way back in 2011. For five years Wazzub and Perfect Internet have been trying to run a profitable MLM business.
The descent into the MLM underbelly began late 2014 with the announcement of unregistered shares and profit shares. Now it’s set to continue with Ponzi investment through Cash Back Marketing.
Perhaps launching dubious MLM underbelly schemes is going to be an annual thing for Perfect Internet.