CrowdFundFast Review: Direct & penny auction ROI scheme
CrowdfundFast launched in June 2016 and identify Lynette Artin (full name: Shirley Lynette Artin Crawford) as CEO of the company.
CrowdfundFast appear to be based out of Michigan in the US, with the company providing the following payment details on their website:
You May Send a Cheque Made Payable To: Shirley Lynette Crawford.
Mail your payment to:
PO Box XXX
Maple Rapids, MI 48853
These same details appear in the CrowdFundFast domain registration (registered May 25th, 2016).
Lynette Artin (right) first popped up on BehindMLM’s radar as the suspected owner of Quick Pay Group in 2014.
Quick Pay Group was an MLM penny auction that solicited $495 investments on the promise of a 100 day ROI, paid out of newly invested funds.
Artin’s name has been attached to GoFunRewards, OfferHubb and Uptown Offers (see comment #4 on the linked review).
All three of these companies were proposed “revenue-sharing” Ponzi schemes, with only GoFunRewards actually officially launching (and then promptly shutting down due to fears of regulatory action shortly after launch).
Today Artin is operating Qkadoo and its attached penny auction, QkaBids. CrowdFundFast has been launched under the Qkadoo brand.
Read on for a full review of the CrowdFundFast MLM opportunity.
The CrowdFundFast Compensation Plan
The CrowdFundFast compensation plan sees affiliates invest $275 to $10,000 on the promise of a variable 30 to 180 day ROI.
- $250 package = 30 day ROI (capped at $2750)
- $650 package = 45 day ROI (capped at $6500)
- $1000 package = 60 day ROI (capped at $10,000)
- $2500 package = 90 day ROI (capped at $25,000)
- $5000 package = 120 day ROI (capped at $50,000)
- $10,000 package = 180 day ROI (capped at $100,000)
Once a package expires, a CrowdFundFast must invest again in order to continue earning.
The package ROI is paid out directly as new CrowdFundFast affiliates are recruited and invest in packages. It is also paid out of profits generate through QkaBids penny auctions.
Recruitment ROIs
When a new CrowdFundFast affiliate invests $250 to $10,000, a percentage of these funds are paid three levels to affiliates who joined before them (reverse unilevel).
- new affiliate invests $250 = $75 to the affiliate who recruited them, $50 to the level 2 upline and $25 to the level 3 upline
- new affiliate invests $650 = $100 to the affiliate who recruited them, $75 to the level 2 upline and $50 to the level 3 upline
- new affiliate invests $1000 = $200 to the affiliate who recruited them, $150 to the level 2 upline and $100 to the level 3 upline
- new affiliate invests $2500 = $300 to the affiliate who recruited them, $200 to the level 2 upline and $150 to the level 3 upline
- new affiliate invests $5000 = $500 to the affiliate who recruited them, $300 to the level 2 upline and $200 to the level 3 upline
- new affiliate invests $10,000 = $1200 to the affiliate who recruited them, $700 to the level 2 upline and $250 to the level 3 upline
Penny Auction ROIs
When auctions are won on QkaBid, the company places 40% of the value of bids used in the auction into a “Daily Funding Pool”.
Each QkaBid used has a stated value of 50 cents. QkaBid bids can be purchased by retail customers or Qkadoo or CrowdFundFast affiliates.
CrowdFundFast affiliate packages are bundled with the following QkaBid bids amounts:
- invest $275 and receive 150 QkaBid bids
- invest $650 and receive 750 QkaBid bids
- invest $1000 and receive 1000 QkaBid bids
- invest $2500 and receive 3600 QkaBid bids
- invest $5000 and receive 8000 QkaBid bids
- invest $10,000 and receive 16,000 QkaBid bids
The Daily Funding Pool is distributed out daily among CrowdFundFast affiliates who are eligible for a daily ROI payment.
Note that a percentage of the ROI paid out from the Daily Funding Pool must be spent on QkaBid bids.
How much of a percentage is determined by how much a CrowdFundFast affiliate has invested:
- $275 package = 40% of DFP ROI must be used to purchase bids
- $650 package = 30% of DFP ROI must be used to purchase bids
- $1000 package = 20% of DFP ROI must be used to purchase bids
- $2500 package = 15% of DFP ROI must be used to purchase bids
- $5000 package = 10% of DFP ROI must be used to purchase bids
- $10,000 package = 5% of DFP ROI must be used to purchase bids
Joining CrowdFundFast
Affiliate membership with CrowdFundFast is tied to a $275 to $10,000 investment.
How much an affiliate invests directly impacts their income potential through the CrowdFundFast compensation plan.
Conclusion
CrowdFundFast is the latest attempt to breathe some life into Qkadoo and QkaBids.
Both were launched ages ago and to date have failed to take off.
The problem is CrowdFundFast is essentially a two-tier Ponzi scheme.
The first tier sees a specific amount of newly invested funds used to pay ROIs to existing affiliates.
The second tier sees CrowdFundFast affiliates who invest given auction bids, which they then use on QkaBids penny auctions.
Funds used to pay for these bids are paid back to existing CrowdFundFast affiliates through the Daily Profit Pool.
Both tiers of the ROI CrowdFundFast affiliates are paid are sourced primarily from newly invested funds.
Retail revenue could be used to pay out a percentage of the ROI through the Daily Profit Pool, however retail activity at QkaBids appears to be virtually non-existent.
To the extent that it does exist, it is likely dwarfed by CrowdFundFast affiliates investing $275 to $10,000 a pop.
As to the whole “crowdfunding” angle, here’s some suggested CrowdFundFast affiliate “projects”:
Maybe you need a new roof on your house, or a new porch, maybe you need a new furnace, or windows, maybe you need to replace appliances.
In effect, a CrowdFundFast affiliate’s project is their own wallet.
Thus all CrowdFundFast does is use newly invested funds to pay off existing investors, making it a Ponzi scheme.
According to the SEC’s Edgar database, neither CrowdFundFast, QkaBids or Qkadoo are registered to offer securities. Being based out of Michigan in the US, this could pose serious regulatory issues should the SEC investigate.
Given her close proximity to the Zeek Rewards, one would think Lynette Artin might have learnt something about MLM penny auctions and Ponzi schemes.
Apparently not.
It’s interesting that Ex-Zeekheads can only think of “polishing” Zeek, doesn’t it? They can’t seem to come up with a *real* business by themselves…
So many of them, but they all seem to be trying to attach a suspect Ponzi / Pyramid hybrid to something, usually penny auctions, but sometimes, somewhat more legitimate offerings.
talk about STUPID – ask her how she likes STRIPES – or are prison uniforms stripes these days could be rainbows – who knows – she can meet up with Paul Burke – ZEEK
Ken Russo is now pimping this scam. Maybe the SEC will finally come calling!
I just had a friend show this to me. You say their is no product well now their is.This product is being delivered straight to peoples doors. You at least need to redo your review to say that their is product.
She said on a webinar that their was a smuck that called her business a Ponzi and i figured it was you…lol!!
When you’re using newly invested funds to pay off existing investors, it doesn’t matter what you attach to the scheme.
And what, the product is so fantastic you can’t even name it? Riiiiiiiight.
There’s a lot of salt among the Zeek Rewards crew, it hasn’t been a good few years for them.
So what is this product that you speak of and what does it have to do with “crowdfundfast”?
I’m sorry it’s Canvases and you get the bids as a bonus. The threshold is not their to guarantee a profit either. It was explained in a video. They are not taking newly invested funds to pay off old investors. The profits come from items being sold in the auction.
People are being paid from the profits from the auctions.
Canvases. People are dropping thousands of dollars on canvases and not because CrowdFundFast promises them up to 180 day ROIs?
Riiiiiiight.
Doesn’t have to be. If it’s paid out of newly invested funds and ticks over 100%, it’s a ROI made up of subsequently invested funds.
So why do affiliates deposit up to $10,000 then?
On tonight’s webinar she said she is taking away the $10,000.00 option. She said she possibly may take away the $5,000.00 option. (Ozedit: Offtopic derail attempts removed)
Why don’t you advise owners where they might be going wrong instead of attacking them? You could help the industry out a lot more by going that route.
Regardless of the amount, using newly invested funds to pay off existing investors constitutes a Ponzi scheme.
If an owner wished to know where they were going wrong all they’d have to do is read one of our reviews. Whether they choose to address the observed problems is up to them.