Concord Consulting Limited Review: $20,000 script Ponzi
There is no information on the Concord Consulting Limited website indicating who owns or runs the business.
The Concord Consulting Limited website domain (“concordconsulting.com”) was registered on the 16th of May 2015, however the domain registration is set to private.
Further research reveals Concord Consulting affiliates identifying an “MG Faroque” as the owner of the company;
The owner of the company is MG Faroque. I have known him for quite some time, and have actually had conversations with him via Facebook and phone. He is as honest as it gets.
Faroque is currently advertising Concord Limited Consulting on his Facebook page, with it looking to be a relaunch of something called Enliven LTD:
Enliven LTD appears to have launched in early May, with Faroque publishing the following Facebook update on May 2nd:
Dear Friends,
I was just like you who are struggling to make money online, so I know the pain and feeling of losing your savings, money, max out credit card, taking money from your spouse and losing it all.
I know the feeling of being scammed by dishonest admin who take your money and shut down the program, I know the feeling of sucking our money, and when it comes to withdrawal, drama starts one after the other and you can’t even take your seed money out. I get all this.
So, I have come to this decision I would like to help all the people out there, to make money online, make the future plan without hesitating that tomorrow you may not get paid. I like to change the mode of online money making fear.
Our plan is pretty simple. Plans 1 to 3 will pay daily profit for 60 business days and your investment will be returned after the 60th business day. And the VIP plan will pay after 40 business days with a total 500% return on your investment.
Advertising for Concord Consulting Limited began on May 22nd, with Faroque later confirming it is a reboot:
(Investor): thought it was called somethign (sic) else (23 May at 06:49)
MG Faroque: name has been changed (23 May at 06:53)
(Investor): enlivin or something liek (sic) that before right? (23 May at 06:54)
MG Faroque: yes, plz go to group. (23 May at 06:55)
The Facebook group Faroque (right) refers to is set to private, but is presumably where he primarily communicates with Concord Consulting Limited investors.
As for the company itself, on his Facebook profile Faroque lists his location as New York in the US. Despite the presence of a UK company address on the Concord Consulting Limited website, New York is instead likely where the company is being run out of.
Faroque’s familiarity with being scammed meanwhile comes as no surprise, with further perusal of his Facebook profile revealing advertising for
- IntellaShares (collapsed $2.50 micro Ponzi)
- BoomAdz (150% ROI Ponzi scheme)
- Rockfeller (350% ROI Ponzi scheme)
- PaFunds (250% ROI Ponzi scheme)
- Profits Automatic (125% ROI Ponzi scheme)
- Money Worldwide ($500 a week ROI Ponzi scheme)
- Automatic Mobile Cash ($25 Ponzi scheme)
- Powerline Cycler ($50 matrix-cycler Ponzi scheme)
- Trinity Lines ($50 three-tier cycler Ponzi scheme)
- Friendly Cycler (200% ROI cycler Ponzi scheme),
- Best Online Salary System (matrix cycler Ponzi),
- Achieve Community ($3.8 million dollar Ponzi scheme shutdown by the SEC)
- Double Diamond Cycler ($20 six-tier matrix Ponzi cycler)
- Unison Wealth ($35 matrix subscription Ponzi scheme)
- Revetrix (1200% ROI Ponzi scheme)
- RE247365 (collapsed $39.95 a month pyramid scheme)
- Zukul ($25 a month recruitment-driven pyramid scheme)
- Lead System Network (cash gifting) and
- Empower Network
Empower Network appears to be Faroque’s first venture into MLM, with advertisements appearing on his Facebook timeline in March 2014. Promotion of MLM underbelly scams began a few months after.
Read on for a full review of the Concord Consulting Limited MLM business opportunity.
The Concord Consulting Limited Product Line
Concord Consulting Limited has no retailable products or services, with affiliates only able to market affiliate membership with the company itself.
The Concord Consulting Limited Compensation Plan
The Concord Consulting Limited compensation plan sees affiliates invest in two offered plans:
- Daily Plan ($25 to $499) = advertised 60 day 205% ROI
- VIP Plan ($500 to $20,000) = advertised 45 day 200% “total return”
Referral commissions on investments made by recruited affiliates are paid out via a unilevel style 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 of their own, 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.
Theoretically a unilevel team can extend down an infinite number of levels, however Concord Consulting Limited cap payable unilevel levels to three.
Referral commissions are paid as a percentage of the funds invested by affiliates in a unilevel team as follows:
- level 1 (personally recruited affiliates) – 3%
- level 2 – 2%
- level 3 – 1%
Joining Concord Consulting Limited
Affiliate membership with Concord Consulting Limited is free, however affiliates must invest at least $25 to participate in the income opportunity.
As such, the defacto minimum cost of Concord Consulting Limited affiliate membership is $25.
Conclusion
Concord LTD is a private investment consulting company that began as an idea and vision amongst a group of individuals and entrepreneurs.
Who manages Concord Consulting LTD’s investment portfolio?
Our investment portfolio is managed by our team of skilled and experienced trading experts with a primary focus in the currency exchanges.
Despite the narrative presented on the Concord Consulting website, the reality is more in alignment with MG Faroque’s MLM history.
Addressing concerns from investors that he was the admin of scams past, Faroque writes:
It’s our First Venture & that useless guys are saying we already ran a company in past?
We bought the whole package from the company, where others online program’s owner buy as well. If you see there are lot other company are listed under same company we bought the package, we don’t pay every single item, we paid for whole website included script, design, hosting, support.
There is no “investment portfolio” or “trading experts”.
All that powers Concord Consulting Limited is a cookie-cutter Ponzi scheme script, which shuffles newly invested funds to pay off existing investors.
In the little over a year Faroque has been advertising MLM underbelly schemes, he’s amassed a private Facebook group following of over 400 individuals.
Obviously at some point Faroque has decided rather than lead these people from scam to scam and continue to get ripped off, that he’d much rather himself be the one doing the ripping off.
No doubt promising his followers Ponzi riches if they “get in early”, that’s now where you come in.
Sign up now that Faroque and his Facebook group have preloaded Concord Consulting Limited with positions, and then invest your funds so that they can be paid out.
Then when it comes time to collect your ROI… kaboom.
The initial Enliven LTD 500% ROI after 40 day ROI scheme lasted barely a few weeks. Concord Consulting Limited is a bit more relaxed on its ROI liabilities, but ultimately it too will collapse once new investment slows down.
The MAJOR pimping scammer, Ken Russo, just starting pimping this scam yesterday as a cheaper version of the other scam he is pimping, Options Rider!
What a f*cking loser! Here is his pimp email!
Hi, I was a little surprised to see this post. I invested with this company and they are paying.
I have some money in their daily plan and in the vip plan. I made a withdrawal a few days ago and received my money with no problem. I pray that this continues this way.
Hope is not really a strategy.
@Lisa
Getting paid has no bearing on the business model, which makes Concord Consulting a Ponzi scheme.
You’ll get paid as long as new investors join and deposit funds.
What you’re actually praying for is an ever-increasing number of people falling victim to investment fraud. For shame.
The fact Russo is pimping this guarantees it’s a scam. that’s ALL he does. he does not do legitimate.
and getting a little of your own money back isn’t something that should instill any confidence.
You might be better off praying that government doesn’t start hauling fraudulent scheme participants into court along with the owners and enablers.
Oz don’t try to b over smart bro.. As you know concord stop accepting new members and my 10k deposit is also expire and I made 8k profit bro.
Concord is a great company run by an honest person. Concord for life.
That the scheme had collapsed I did not know.
You stole $8000 from subsequent investors?
What a life achievement, something you shouldn’t definitely be proud of. Bro.
I don’t know him, and I don’t know you either. So I will need to find out how trustworthy both of you are.
So far we have MG Faroque himself telling that he’s a honest person. His use of words indicate that he’s trained in telling half-truths (a “professional lying method”).
He’s using “I would like to … help all the people out there, to make money online, make the future plan without hesitating that tomorrow you may not get paid”.
You can learn methods like that from selfdev books. You will probably find some online instructions too. He has probably used that method for so long time that it has become a habit.
If almost every promise starts with “I would like to …”, then you should carefully check how his promises have worked for others before accepting anything.
MG Faroque didn’t really pass that test. So I won’t need to test how trustworthy you are.
I tried to google some half truth techniques, but didn’t really find what I was looking for.
He has two or more layers of truth for some reason.
1. I have come to this decision
2. I would like to …
“I was only telling them about a decision I had come to about what I would like to do. I hadn’t made any final decision yet, but people literally begged me to start”.
I will normally come to a conclusion, but I will make a decision. “Come to a decision” means he hasn’t finally decided yet.
From my perspective, it’s a “trained technique”. It’s probably something he has learnt from psychology related material, about how to bypass the resistance most of us have against telling straight lies.
The vagueness in his promises makes him highly suspicious. So his eagerness to tell the world that he is a honest person makes him less trustworthy.
Enliven met a lot of resistance on the MMG forum, starting from post #4?
Bold letters, big font, red color, screenshots, etc. 🙂
MG Faroque seems to have serious problems being accepted as “honest person”. And he’s trying really hard to tell the world that he is honest.
He was detected because he used the same payment processor account, he only changed the name of the account. He should have opened a completely new account. He did that after he was caught.
CONSUMERFUNDS into ENLIVENLTD (people detected the change)
ENLIVENLTD into AMAZINGINCER (so he changed to a new name)
You should tell MG Faroque that his strategy as “honest person” now has been completely ruined. It probably worked well the first time(s) he tried it, but after that it has only attracted trouble for the whole team.
* It didn’t work for Enliven (someone made some noise)
* It didn’t work here, it only gave me a chance to analyse it and to ruin it further.
Someone have failed to teach him something. If there is a “guru” out there that has teached him some tricks, that “guru” simply isn’t very competent.
I’m proude of it bro.. Its being 3months now and new registration are closed and almost 95% members are in profit.
I just withdraw 2k more today.. Happy earning. long live concord.
I offered Markie (Lyoness Markie) an explanation for how that method probably works, in a Lyoness thread.
The short quote I tried to analyse is from the article itself, from the second “green box”. But I actually looked at the whole section there, and I had a quick look at the whole article.
It didn’t trigger any suspicion, i.e. MG Faroque’s own story could be “believable enough”. It could easily be true = a relatively honest person trying to start his own program, because of some negative experiences with other programs.
(Ponzi schemes are fraudulent programs, but that doesn’t mean that people joining them will need to be dishonest. I separate between IT and THEM, between company and people.)
The factor that DID trigger some suspicion was the statement in post #7, “Concord is a great company run by an honest person”. Normal people usually won’t try to tell the world over and over again that they’re honest, and they don’t need others to tell it either.
So I analysed it in post #9 and #10. I recognized a part of MG Faroque’s message as a potential “sales trick”, as something that can be found in some selfdev books or be taught by “marketing gurus”.
HOW IT MAY WORK
In sales, accept is an important factor. People must accept it first before they will say “yes” to something and pay money for it. And people often have gut feelings warning them against certain “too good to be true” ideas.
Paul Burks (Zeek Rewards) played the role as a “65 year old, not very successful business man, with 15 year track record in business, tha suddenly had come up with a great idea”. He fooled most people, i.e. he got accepted and so did his idea. So investors handed over money.
Most people are poor liers. They will trigger a lot of suspicion if they try to tell lies. MLM gurus often teach how to tell half truths, a method to trick your own brain to believe in lies. It will usually trick other people too, to believe in something.
DETAILS?
I’m not an expert, so I don’t know exactly why it works and how it works. But I believe one of the reasons for why people are poor liers and will trigger suspicion is because they fear being caught, i.e. they won’t behave like honest people, the lie will be reflected in body language.
Having a defense strategy in case we’re getting caught may reduce that fear. So I analysed one defense strategy.
“Gurus” often give a complete method. How to tell the lie (which elements people will believe in), how to avoid being caught, how to escape if you have been caught.
That was the whole story, the one I offered to tell in the Lyoness thread. I tried to give an overview.
You’re all wrong about Concord. When Enliven shut down it was purely because of haters like you, and ALL the investors got their money back.
Now why would a ponzi scheme artist return everyones money after the company shut down?? It reopened as Concord LTD and it has been rocking strong ever since.
Not a single member has had issues with withdrawals, nearly everyone is now in profit 🙂
Sucks to be you guys who didn’t join now that the doors are closed for registration.
A ponzi hyip will continue to accept new members till the day they shut down in order to procure the most profit possible from new investors, so why would they cut themselves short and close registration if all they’re doing is stealing money??
I’ll tell you why, because it’s legitimate! They can’t possibly keep the company stable if they have 10’s or 100’s of thousands of members.
Once again, sucks to be you who didn’t get in when you had the chance. LONG LIVE CONCORD
Says who?
Probably because failed launches with a relaunch in mind require refunds. Why scam a low amount of investors if you think you can relaunch and try scam a larger amount.
That requires you handing back some money otherwise even the Ponzi pimps wont invest with you.
Mathematically impossible in a Ponzi scheme, so along with the rest of your comment – why don’t you drop the bullshit.
Alexa rank: 18.4 million. What’s that, five visitors a day?
RIP Concord Consulting.
They just reopend their doors for 10 days if that makes a difference.
This is a scam. Don’t invest, I made that mistake.
Has taken over 3 months for a withdrawal, yet they still haven’t sent all from my requested amount. Have received only 60% back and they are withholding 40% without any explanations.
SCAM….