Crude Oil Profit Review: Oil mining Ponzi scheme
Crude Oil Profit provides no credible information on its website about who owns or runs the business.
The best Crude Oil Profit serves up is a YouTube video, supposedly featuring their Director, “Aaron Morris”.
The video however is just someone with a thick thick European accent reading off a broken English script, in what is obviously a rented office space.
Crude Oil Profit seem to have hired the actor about a month ago, as he features in a number of videos bulk uploaded on April 4th.
In another attempt to feign legitimacy, Crude Oil Profit incorporated itself as “Crude Oil Profit Limited” in the UK back in February.
UK incorporation is dirt cheap and for the most part unregulated. It is a favorite for scammers looking to incorporate dodgy companies.
As always, if an MLM company is not openly upfront about who is running or owns it, think long and hard about joining and/or handing over any money.
Crude Oil Profit Products
Crude Oil Profit has no retailable products or services, with affiliates only able to market Crude Oil Profit affiliate membership itself.
The Crude Oil Profit Compensation Plan
Crude Oil Profit affiliates invest $100 to $100,000 on the promise of an advertised daily ROI.
- invest $100 to $10,000 and receive a 2% daily ROI for 150 days
- invest $20,000 to $40,000 and receive a 2.5% daily ROI for 120 days
- invest $50,000 to $100,000 and receive a 3% daily ROI for 100 days
Note that a 10% admin fee is also charged on all withdrawal requests.
Crude Oil Profit pays a 5% referral commission on funds invested by first and second recruited affiliates.
From the third personally recruited affiliate, a 10% referral commission is paid.
To qualify for residual commissions a Crude Oil Profit affiliate must recruit at least two affiliates.
Crude Oil Profit pays 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 there is no limit to how deep a binary team can grow.
At the end of each day Crude Oil Profit tallies up new investment volume on both sides of the binary team.
Affiliates are paid a 10% commission on matched funds.
Once paid out on, matched funds are flushed from both sides of the binary team. Any leftover volume on the stronger binary team side is carried over.
Note that Crude Oil Profit caps daily residual commissions at 50% of an affiliate’s invested funds at any given time.
Joining Crude Oil Profit
Crude Oil Profit affiliate membership is free.
To participate in the attached income opportunity however, a minimum $100 investment is required.
H’yello friends. My name is Aaron Morris, rhymes with Boris – and today I am hoping to share with you excellent investment opportunity.
Points for creativity guys but just how stupid do you think people are?
Evidently plenty stupid, judging by Crude Oil Profit’s current 23,907 Alexa ranking.
A whopping 81% of traffic to Crude Oil Profit’s website originates out of the US, which is a good place to start our regulatory due-diligence.
Crude Oil Profit clearly offers a passive investment opportunity.
Purportedly returns are generated through oil drilling but, other than random drilling rig animated GIFs (seriously), Crude Oil Profit provides no supporting evidence.
Regardless, in order to legally offer a passive investment opportunity to US residents, Crude Oil Profit needs to be registered with the SEC.
At the time of publication neither Crude Oil Profit or
Boris Aaron Morris are registered with the SEC.
This means the company is operating illegally. Ditto for Canada, the second largest source of traffic to Crude Oil Profit’s website (3%).
Despite this however, Crude Profit Oil insists that it’s legal… because y’know, popularity.
Is this legal to invest with Crude Oil Profit platform?
Of course, we are one of the popular oil mining companies. You should feel free to invest using our platform and earn a profit.
As with all MLM Ponzi schemes, once affiliate recruitment dies down so too will new investment.
This will starve Crude Oil Profit of ROI revenue, eventually prompting a collapse.
The math behind Ponzi schemes guarantees that when they collapse, the majority of investors lose money.