CoinMD Review: Tom McMurrain’s CoinRewards Ponzi points
CoinMD provide no information on their website about who owns or runs the business.
The CoinMD website domain (“coinmd.io”) was privately registered on May 3rd, 2017.
Further research reveals Tom McMurrain citing himself as CEO of the company in the CoinMD compensation plan.
Why this information is not provided on the CoinMD website is unclear.
Tom McMurrain (right) first appeared on BehindMLM’s radar as a prominent US investor in the OneCoin Ponzi scheme.
McMurrain stopped actively promoting OneCoin around mid-May, shortly after registering the CoinMD website domain. Whether McMurrain is still a OneCoin affiliate or not is unknown.
On the regulatory side of things, McMurrain is a convicted felon.
Between 1997 and 2000 McMurrain stole $9 million from 80 investors in a pay-day loan Ponzi scheme he called Emergency One Cash Card Inc.
In September 1997, McMurrain, a former securities dealer, formed a company called “Emergency One Cash Card Inc.”
The company made two- to four-week loans of between $300 and $500 to low-income borrowers at high interest rates (between 22 percent and 25 percent a month) using car titles as collateral.
McMurrain began the business with a store front at Tower Place in Buckhead. Eventually, he expanded the company to locations in Buford, Smyrna and Decatur, Ga., and a holding company called “Emergency One Holding Corp.”
McMurrain also created a boiler-room operation, “American Call Center,” so potential customers could borrow money by phone.
Over time, McMurrain employed 10 to 20 people to manage the storefronts and administer the operations, while McMurrain solicited investors to pump money into his companies.
McMurrain promised potential investors a 15 percent to 36 percent a rate of return annually on their investment — a rate much higher than available commercially.
McMurrain failed to tell investors his business was operating at a loss and the business was only able to make monthly interest payments to previous investors with funds invested by later investors.
He also did not disclose he used their investments to fund non-pay day loan businesses, including a loan of $700,000 to another McMurrain company, “Global E Tutor Inc.”
McMurrain also used investor funds to make uncollateralized loans to friends, and McMurrain failed to disclose to the investors that he spent $1.3 million of their investments in day trading and on a lavish lifestyle for himself.
In August and September of 2000, the business failed and McMurrain’s business declared bankruptcy in late 2000.
When the company went bankrupt, McMurrain and his immediate family fled to Central America.
After Bananama Republic reported on two arrest warrants issued against McMurrain, he sued them.
McMurrain lost the case and appealed, but before the appeal was decided on was arrested in 2004 on the aforementioned warrants.
Other cases included boating under the influence, assault, more fraud — McMurrain ran a high profile robbers den in Panama under the name “San Cristobal Land Development”.
In 2005 McMurrain was sentenced to 87 months in prison and had to pay back $7.5 million he’d stolen.
McMurrain was released in 2009/2010, after which he signed up as an affiliate with the TVI Express.
In 2010 McMurrain’s home state Georgia declared TVI Express was a pyramid scheme.
Of late McMurrain has been heavily involved in the cryptocurrency niche. The only MLM opportunity I’m aware McMurrain has been promoting however is OneCoin.
OneCoin ceased processing affiliate Ponzi points ROI withdrawals back in January. Since then affiliates have only been able to earn pyramid recruitment commissions, so I guess here we are with CoinMD.
Read on for a full review of the CoinMD MLM opportunity.
CoinMD has no retailable products or services, with affiliates only able to market CoinMD affiliate membership itself.
The CoinMD Compensation Plan
CoinMD affiliates invest in CoinRewards points, n the expectation they’ll be able to cash the points out for a higher value at a later date.
- MD1 – invest $1000 and receive 50,000 CoinRewards points
- MD3 – invest $5000 and receive 150,000 CoinRewards points
- MD5 – invest $10,000 and receive 500,000 CoinRewards points
- MD10 – invest $25,000 and receive 1,500,000 CoinRewards points
- MD15 – invest $50,000 and receive 5,000,000 CoinRewards points
CoinRewards points can be exchanged for CoinMD, a non-public cryptocurrency.
CoinMD wholly control and set the value of the CoinMD cryptocurrency.
Before we get into specific commissions, note that earning potential for CoinMD affiliates is capped based on how much they invest:
- MD1 – single binary position capped at $3000 a week
- MD3 – three binary positions capped at $5000 a week each ($15,000 total)
- MD5 – seven binary positions capped at $15,000 a week each ($105,000 total)
- MD10 – seven binary positions capped at $30,000 a week each ($210,000 total)
- MD15 – fifteen binary positions capped at $30,000 a week each ($450,000 total)
As per the CoinMD compensation plan, 30% of all earned commissions are paid out in CoinRewards points.
CoinMD Affiliate Ranks
There are five ranks within the CoinMD compensation plan.
Along with their respective qualification criteria, they are as follows:
- Legionnaire – generate at least $999 in monthly downline investment volume and recruit at least one affiliate who has invested
- Praetor – generate at least $50,000 in monthly downline investment volume (33% in the weaker binary side) and recruit and maintain at least five Legionnaire ranked affiliates (at least two on the weaker binary side)
- Centurion – generate at least $150,000 in monthly downline investment volume (33% in the weaker binary side) and recruit and maintain at least ten affiliates who have invested (three must be Praetor ranked with at least one Praetor on the weaker binary side)
- Senator – generate at least $350,000 in monthly downline investment volume (33% in the weaker binary side) and recruit and maintain at least fifteen affiliates who have invested (six must be Centurion ranked with at least two on the weaker binary side)
- Imperator – generate at least $750,000 in monthly downline investment volume (33% in the weaker binary side) and recruit and maintain at least twenty-one affiliates who have invested (nine must be Senator ranked with at least three on the weaker binary side)
CoinMD affiliates are paid a percentage of funds invested by personally recruited affiliates.
How much of a percentage they are paid is determined by their CoinMD affiliate rank:
- Legionnaire – 10%
- Praetor – 15%
- Centurion – 20%
- Senator – 25%
- Imperator – 30%
A 100% bonus in CoinRewards is paid out on recruitment commissions earned within a CoinMD affiliate’s first thirty days with the company.
CoinMD pay residual commissions via a binary compensation structure.
A binary compensation structure places an affiliate at the top of a binary team, split into two sides (left and right):
The first level of the binary team houses two positions. The second level of the binary team is generated by splitting these first two positions into another two positions each (4 positions).
Subsequent levels of the binary team are generated as required, with each new level housing twice as many positions as the previous level.
Positions in the binary team are filled via direct and indirect recruitment of affiliates. Note that there is no limit to how deep a binary team can grow.
At the end of each week CoinMD tally up newly invested funds on both sides of the binary team.
Affiliates are paid 10% of funds generated on their weaker binary side (the side with less investment volume).
Leftover volume on the stronger binary side is carried over the following week.
Investment volume flushes on both sides of the binary team if both sides hit a minimum $300,000 in weekly volume.
CoinMD affiliates earn a Matching Bonus on residual commissions paid to their downline affiliates.
The Matching Bonus is paid out 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.
CoinMD cap payable unilevel levels at four, with corresponding Matching Bonus percentages on each level as follows:
- level 1 (personally recruited affiliates) – 10%
- level 2 – 10%
- level 3 – 20%
- level 4 – 25%
Rank Achievement Bonus
CoinMD affiliates receive a one-time Rank Achievement Bonus when they qualify at the Praetor and higher ranks:
- qualify as a Praetor affiliate and receive $500
- qualify as a Centurion affiliate and receive $1500
- qualify as a Senator affiliate and receive $2500
- qualify as an Imperator affiliate and receive $5000
CoinMD affiliate membership is $29.95 annually plus investment in one of the following membership options:
- MD1 – $1000 for a one year membership
- MD3 – $5000 for a three year membership
- MD5 – $10,000 for a ten year membership
- MD10 – $25,000 for a ten year membership
- MD15 – $50,000 for a fifteen year membership
At the end of each membership period a $199 fee is payable.
The primary difference between the above affiliate membership options is income potential via the CoinMD compensation plan.
The marketing pitch on the CoinMD website blabs on about getting CoinRewards points when selected health services providers are used.
CoinMD is a private membership organization that provides a loyalty Crypto-Rewards program for living a Healthy and Wealthy Lifestyle
Members receive CoinRewards when they join, when they use our preferred network of providers and when they refer other to join CoinMD.
As with OneCoin’s “education packages”, this is just a ruse for affiliate investment into CoinRewards points.
CoinRewards points are worthless outside of CoinMD. Their primary purpose is restrict how many CoinMD points an affiliate gets when they invest in a CoinMD affiliate membership package.
CoinMD points are also worthless. Touted as a cryptocurrency, CoinMD points are neither publicly tradeable or usable for anything other than cashing out a ROI.
As our community grows globally so will the value of YOUR CoinMD.
The above, taken directly from the CoinMD website, reveals CoinMD’s sole source of revenue is new affiliate investment.
Tom McMurrain increases the value of CoinMD points as he sees fits. When affiliates put in a withdrawal request, CoinMD pays an effective ROI on invested CoinMD points using subsequently invested affiliate funds.
This defines CoinMD as a Ponzi scheme.
Pyramid recruitment is also an issue, as opposed to rewarding affiliates for making retail sales, CoinMD’s compensation documentation states the “goal” of the model is
to encourage the behaviors of personal sponsorship, helping others achieve rank and helping others achieve rank, building leadership in depth and working towards earning CoinRewards.
What’s more is CoinMD won’t even be paying affiliates for at least a year.
All Commissions will be paid in gift codes – No cash payouts will be made in the first 12 months.
Gift codes are worthless and can only be used to recruit new CoinMD affiliates. A new affiliate signs up, pays the person who recruited them and receives a CoinRewards giftcode of equivalent value.
This is effectively a scam within a scam, as these invested funds are not recorded on CoinMD’s accounting records.
Having already received a lengthy sentence for mail and wire fraud,why McMurrain is again engaging in Ponzi fraud is unclear. Perhaps as a top OneCoin US affiliate, the money he stole has given him an artificial sense of confidence.
McMurrain can register an Indian Ocean domain but at the end of the day he’s a US citizen operating an investment scheme out of Georgia.
The CoinMD Terms of Service state they’re governed by the laws of Wyoming, but that’s unlikely to fool regulators either.
Through CoinMD McMurrain is offering securities. Specifically, CoinMD affiliates invest in CoinRewards and CoinMD points on the expectation of a passive ROI.
A securities offering to US residents requires registration with the SEC, yet a search of the Edgar database turns up nothing for CoinMD or CoinMD Inc.
At the time of publication CoinMD has a tentative launch date of July 15th. Given McMurrain’s past, should the company take off I can’t imagine it’ll take much for the SEC to take notice.
Update 7th March 2019 – Pending a collapse, which turned out to be a false alarm, Tom McMurrain has announced a new CoinMD compensation plan.
Tom McMurrain (AKA: “Tom Ocean”) is a notorious fraudster who has bilked investors out of an untold amount of money over the past 2 decades.
This is a fun source about him:
(Ozedit: Both links in article)
To summarize Tom McMurrain’s… achievements
1997-2000 Emergency One Loan, collateral high interest loan to desperate people that’s really a $9 million dollar ponzi scheme, escaped to Panama when the scheme collapsed
2000-2004 San Cristobal Land Development in Panama, a suppsed teak and noni plantation investment opportunity, tried to silence local media reporting about it with criminal libel suits, arrested and extradited to the US at FBI orders to face charges for his Emergency One ponzi scheme
2005-2010? Spent time in jail
2010-2012? “Gold member” in TVI Express pyramid scheme, actively recruited until it went bust
2012-2012 Participated in ZeekRewards ponzi scheme, registered domain name and website for it
2012-2015 Solavei rep, toured country in promotion until Solavei went kaput in 2015.
2014-???? Promoter of FlexKom, a suspect scheme (Report from UK, Report from Turkey)
2015-???? Promoter of Onecoin, suspected Ponzi scheme out of Bulgaria
So, either Tom McMurrain is the most inept and unlucky business person in existence… being participants or instigators of at least SEVEN scams or failed ventures since 1997…
Is it a coincidence that his book is called “The 7th Disruption”?
What’s scary is that McMurrain (AKA: “McConman”) actually knows a thing or 2 about “cryptocurrency,” which makes him a dangerous scammer.
My personal interactions and dialogue with him witnessed a broad (of juvenile) understanding of “blockchain technology” in March 2016following a 45+ minute conversation with him related to the Onecoin scam.
Through his cunning, McMurrain had for awhile secured a regular online telecast show (podcast) called The Coin Profit, which ran in Grant Cardone TV, until cryptocurrency industry leader, Brock Pierce, had it brought to his attention that some asshole scammer had used a respected name within the cryptocurrency community to meander the boundaries of real cryptocurrency while promoting the most infamous ponzi scam/ pseudo-cryptocurrency in the world, Onecoin scam.
Upon notification to Mr. Pierce about McMurrain past ponzi history and involvement in the OBVIOUS Onecoin fake crypto ponzi scam promotion, Mr.McConman’s show was promptly dropped (potentiality saving McMurrain’s victims thousands our even millions of dollars).
McMurrain was obviously bummed at losing his platform for his money embezzlement channel and the extensive reach that his affiliation had with Grant Cardone (an otherwise redirected motivational speaker and MLM guy), and this was when McMurrain/ Ocean began losing his grip on directly taking funds from naive victims pockets and transferring a small amount of those stolen funds into his own.
McMurrain is a convicted ponzi felon whom MANY victims I’ve spoken with over the past 8-12 months would like to see brought to justice.
It’s just so obscure to witness fellow human beings who have established families, who have kids and wives, just act in such socially repulsive manners as to subject themselves to repeated legal repercussions for repeatedly breaking the law and willingly committing theft through these kinds of schemes which destroy so many other victims financial lived only to enrich their own, AND WHO DO SO SO WILLINGLY AND WITHOUT CONSCIENCE OUR EVEN CONSIDERATION OF THEIR KEN FAMILY MEMBERS WHO WILL HAVE TO HEAR IT ALL PLAY OUT IN COURT.
I guess I can wish Tom McMurrain EVERYTHING that he deserves. I hope he even gets more than he DESERVES.
Sociopathy is such an obscure character to and normal people. I always wonder that when everything and every fact and transaction plays out, how families can possibly deal with these facts psychologically that their “dad,” “husband,” “wife,” “brother,, etc., is completely detached from any feelings of empathy and is a total and DEVIOUS scammer and manipulator AND GETS A “THRILL” from fucking other people?
Tom McMurrain was also in SolaVei (cest la vie), FlexKom, and ZeekRewards.
And to clarify, McMurrain sued Bananama Republic, not Medium. Bananama Republic’s domain was apparently seized and it moved to Medium as a publishing platform, if I remember correctly.
Finally, even fraudster also jump out from sinking Onecoin’s Ship!
Any way to find out from the Zeek Receivership if McMurrain also got clawed back in Zeek Rewards?
Site does not appear to be live anymore.
Live on my end?
Looks like there’s a typo in the url that’s posted in your article Oz.
Thanks for catching that. Extra “d”.
Is this what ponzi promoters would call a “trusted admin”? a term they like to bandy around loosely and the gullible masses just believe it without doing any due diligence?
Now you’ve corrected the site name yes it is indeed still active. No surprises as to why there are no social links onsite 😛
I don’t personally agree with all the comments from this post but I can confirm that he is a scam artist and is more than willing to hurt people to make money.
He is revengeful and people need to stay clear of him.
I can’t believe the people that rally around Tom McMurrain and his lies. He is willing to go so low to make a dollar and ruin lives in the process.
Thank you for taking the time to expose him and I would really like to see a post on the cronies that are following suit and manifesting the same spirit of knowingly promoting a ponzi that will inevitably hurt people when it comes crashing down.
Keep up the good work on exposing this scam artist.
Wow! I have been doing a lot of reading this morning and it appears that CoinMD was a failed project in the past as seen on Reddit. This causes me to wonder if Tom was just rehashing a failed project to try to make a few dollars. It appears that the largest concern in the past was malpractice lawsuits as people get medical advice from ANONYMOUS “medical professionals.”
Unreal what people will fall for nowadays. Tom McMurrain’s reputation goes back and he keeps on going with milking hard earned money from people.
Let’s hope CoinMD fails quickly to avoid big problems.
McMurrain is still pimping Coin.MD and OneCULT, internationally, but interestingly doesn’t accept Onecoin cult money as a “future” of payment for this scheme.
With as much credit and accolades he has bestowed upon #Onecoin over the past 2years, does anyone else find this odd?
Hey Tom, why not accept the CRYPTOCURRENCY you’ve been promoting for the past 2 years? Is it because it ISN’T WORTH SHIT, AND IT’S FAKE?
McMurrain is worse a felon scammer pimp than even Kari Wahlroos in my eyes.
Someone should begin taking statements from his former followers who ALMOST ALL lost money in OneCULT and his other various ponzi schemes.
You don’t even mention the Crowdentify scheme he stole money from right before the crypto currency scam.
You got to wonder why his parole officer is not doing their job of stopping this nonsense??
Tom says they have more affilates then onecoin this week. Surprised its still going.
Wow, I don’t believe you’ve ever had a conference call or in person with him. You should he’s invited you to. (Ozedit: marketing spam removed)
^^ I was going to nuke the whole comment as derail marketing spam but just thought I’d clarify; Tom McMurrain has never invited me to anything.
Even if he had of though I’d have declined – it is a waste of time repeating what has already been stated in the review above.
To the best of my knowledge McMurrain has failed to address securities fraud in both OneCoin and CoinMD.