crowdfundfast-logoCrowdfundFast 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).

Shirley-Lynette-Artin-Crawford-ceo-founder-crowdfundfast-qkadoo-qkabidsLynette 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 GoFunRewardsOfferHubb 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.

lynette-artin-zeek-ad-twitter-jan-2012

Apparently not.