Genesis Global Network Review: Addwallet Ponzi rebooted
Genesis Global Network review launched earlier this year and list a corporate address in Belize (a known tax-haven) on their website.
Genesis is a legal corporation registered in Belize and is a closely held private company.
Research reveals multiple businesses operating out of this address, indicating that Genesis Global Network use virtual office space. Other than registration, it would appear Genesis Global Network do not have an actual physical presence in Belize.
Identified as Chief Visionary Officer on Genesis Global Network’s website is Donald Bernardin. Affiliate marketing for Genesis Global Network suggests Bernardin created the company with Brandon Bradshaw.
Back in 2013 Brandon Bradshaw fronted the Ponzi AddWallet as Vice-President. Loius Cordero was named CEO in Ecuador, however this was evidently a puppet position that formed part of a larger plan to elude US regulatory attention.
Why would AddWallet feel they need to hide from US regulators?
AddWallet was based on Zeek Rewards, an $850 million Ponzi scheme shutdown by the SEC in mid-2012.
A reload scheme that sought to cajole disenfranchised Zeek Rewards investors into a stripped down reload scam, AddWallet got rid of Zeek’s penny auction facade and had affiliates invest up to $5000 directly in Ponzi points.
This was done under the guise of advertising credits, a commonly used front by online Ponzi schemes today.
AddWallet launched in early 2013 and by mid-year was showing signs of new affiliate funds drying up.
On a conference call held in late May, Brandon Bradshaw told his investors that if they weren’t happy with the diminishing returns, they should cut their losses and move on.
Around the same time, other AddWallet affiliates begged their fellow investors not to withdraw funds (as they were likely trying to withdraw themselves).
The next few months saw AddWallet continue to decline. The company desperately attempted to attract new investor funds with $2000 “founder packages”, however with affiliates reporting widespread lack of payments and disappearing Ponzi points, these attempts went nowhere.
In August, Bradshaw announced he was leaving AddWallet (and taking whatever funds he’d stolen from investors with him).
No official reason for Bradshaw’s departure was ever provided.
As mentioned earlier, both Bradshaw and Bernardin (right) are graduates of the Zeek Rewards Ponzi scheme.
As above, two “Donald Bernardins” appear on a published list of Zeek Rewards investors who made more than $1000 and, as of May 2014, have refused to negotiate the returning of funds they stole:
It would appear whatever money was left from the AddWallet collapse (the company completely fell apart when Bradshaw bailed), has now run out. And so Bradshaw and Bernardin are back with a new opportunity, Genesis Global Network.
Having likely burnt their bridges in the Dominican Republic, now we have Genesis Global Network registered in Belize.
Bradshaw is no stranger to deliberately orchestrating scams with a focus on evading US regulatory attention. In March of 2013 Bradshaw (a resident of Florida in the US) explained specifically why he’d registered AddWallet in the Dominican Republic:
[13:44] One of the first things that was wrong was that they (Zeek Rewards) were incorporated in the southern United States, they were incorporated in North Carolina and they were sitting ducks.
Y’know, once you have so much advertising people know you, you become global and they became a target.
So we saw all the way what happened here. So we incorporated in Ecuador.
Bradshaw didn’t see a problem with Zeek Rewards ripping off thousands of investors (a feat he would later repeat with AddWallet), it was that they made the “error” of registering their Ponzi scheme in the US.
Today, the sentiment behind Bradshaw’s 2013 comments are continued on via the Genesis Global Network website:
Genesis was started because we were flat out frustrated!
We were tired of being let down by companies after spending a lot of time, energy and money in them and watching our financial dreams become nightmares.
We still believe in this industry and rather than quitting, we decided to start Genesis to become a beacon of hope for people like us and for others around the globe.
Read on for a full review of the Genesis Global Network MLM business opportunity.
The Genesis Global Network Product Line
Genesis Global doesn’t appear to have any retailable products or services themselves.
“Business Units” are advertised for sale, with each unit costing $1. Genesis Global Network permit affiliates to invest between $1 to $10,000 in their business units.
All other products listed on the Genesis Global Network website either do not exist yet or are offered by third-party companies.
Of note is that the Genesis Global Network website talks about the launch of a penny auction ‘prior to our Grand Launch in August of 2014‘.
At the time of publication, it would appear the penny auction has still not launched.
The Genesis Global Compensation Plan
The Genesis Global compensation plan revolves around affiliates investing in “Business Units” on the promise of an advertised 90 day ROI:
Affiliates may purchase BUs for $1.00 each and from a minimum of 10 to a maximum of 10,000.
These BUs can earn for a maximum of 90 “Pay Days” (Monday through Saturday represents 6 “Pay Days”). 90 “Pay Days” represents 15 weeks of rebate rewards. Once 90 “Pay Days” have been reached, the original BUs expire and the remaining balance can continues (sic) to earn rewards.
In a nutshell, affiliates invest up to $10,000 in Business Units and are then paid a 90 day ROI from subsequently invested funds.
Genesis Global Network force affiliates to re-invest 70% of the ROI paid out. An affiliate can used trapped funds to re-invest in more Business Units (which pay out a new 90 day ROI).
Referral commissions are paid out on Business Unit investment, payable down three levels of recruitment:
- Pearl ($12 a month) – 5% on level 1
- Ruby ($40 a month) – 5% on level 1 and 2% on level 2
- Sapphire ($70 a month) – 7% on level 1 and 3% on level 2
- Emerald ($120 a month) – 10% on level 1, 3% on level 2 and 2% on level 3
“Product Unit” investment is also available, costing $100 an investment and paying out a quarterly ROI for a year (4 ROI payments).
The mechanics of Product Unit investment are the same as Business Units. An affiliate invests $100 sums and collects a passive ROI for four quarters paid out of subsequently invested funds.
Recruitment Commissions
In addition to ROIs, Genesis Global Network affiliates are also paid recruitment commissions (a direct and residual).
Direct recruitment commissions in Genesis Global Network are determined by how much an affiliate spends on their membership each month:
- Pearl ($12 a month) – 20% on level 1 and 5% on level 2
- Ruby ($40 a month) – 20% on level 1, 5% on level 2 and 2% on level 3
- Sapphire ($70 a month) – 20% on level 1, 7% on level 3 and 3% on level 3
- Emerald ($120 a month) – 20% on level 1, 10% on level 2, 3% on level 3 and 2% on level 4
Note that these commissions are paid monthly, provided all recruited affiliates continue to pay their affiliate fees.
Residual recruitment commissions are paid out using a 2×20 matrix compensation structure.
A 2×5 matrix places an affiliate at the top of a matrix, with two positions directly under them (level 1):
In turn, these two positions branch out into another two positions each (level 2) and so on and so forth down a total of twenty levels.
How many levels a Genesis Global Network affiliate can earn on depends on their affiliate membership rank and their personal recruiting efforts.
Before we get into the matrix ranks, note that membership points as well as the payment of monthly fees are required to qualify.
Membership points are generated when affiliates are recruited, with the amount of points allocated determined by how much they spend on affiliate membership fees:
- Pearl – 10 points
- Ruby – 50 points
- Sapphire – 100 points
- Emerald – 200 points
With that in mind, matrix levels payable according to an affiliate’s membership rank are as follows:
- Pearl (recruit 2 affiliates) – earn on 5 levels
- Ruby (recruit at least 3 affiliates who generate at least 300 membership points) – earn on 10 levels
- Sapphire (recruit at least 4 affiliates who generate at least 500 membership points) – earn on 15 levels
- Emerald (recruit at least 5 affiliates who generate at least 1200 membership points – earn on all 20 levels
Positions in the matrix are filled via the recruitment of affiliates, with how much of a commission is paid out ranging from between 0.25 cents to $2.
Genesis Global Network do not disclose how much specifically is paid per level in their compensation plan material.
Joining Genesis Global Network
Affiliate membership with Genesis Global Network is available at four price-points:
- Pearl – $12 a month
- Ruby – $40 a month
- Sapphire – $70 a month
- Emerald – $120 a month
The primary difference between the affiliate membership is income potential through the Genesis Global Network compensation plan. Particularly how much an affiliate can invest in units and how much they can re-invest (specifics are not provided in the Genesis Global Network compensation plan).
Conclusion
Different name, same old Ponzi points scam.
Instead of VIP bids in Zeek Rewards and advertising credits in AddWallet, now we have “Genesis Coins”.
The idea is the same though, affiliates invest on the promise of advertised ROIs, which Genesis Global Network pays out subsequently invested funds.
There’s a whole bunch of smoke and mirrors on the Gensis Global Network website, with Bradshaw and Bernardin throwing an array of Ponzi stereotypes in an attempt to add legitimacy to the scheme.
This 90 day affiliate investment model didn’t work with Zeek Rewards or AddWallet… and it’s not going to work with Genesis Global Network.
When affiliate funds run out one need only look to AddWallet to see the train-wreck that will follow.
Firstly Genesis Global Network affiliates will notice their daily ROIs dry up.
Then Brandon Bradshaw will get on calls and start blaming affiliates. Others will beg those with funds trapped int eh system to not withdraw, as this has a negative impact on their own withdrawal attempts.
The company meanwhile will retain radio silence. And a few months later Bradshaw will announce he’s quitting and disappear off with an undisclosed sum of invested money.
By this point Bernardins will be long gone.
Suckers who didn’t “get in early” will once again be left holding the bag… until Bradshaw reappears next year with a new scheme and partner. Promising affiliates they can make back what they lost in his last venture, Bradshaw will again set about fleecing those who deposit funds with him.
With no external funds (all that crap about “the company selling products for you” is just that, crap), Genesis Global Network relies on a constant source of newly invested affiliate funds to stay afloat.
Perhaps having learnt from the disaster that was AddWallet, this time around Bradshaw is forcing affiliates to leave as much real money in the scheme than ever before.
70% of all funds are trapped in the scheme, with affiliates only ever able to withdraw 30% of the monopoly money Genesis Global Network pays them.
The idea behind this is an extremely slowed down version of the typical 90 day Ponzi points system. By trapping 70% of every monopoly money ROI paid out, Bradshaw no doubt hopes to keep this scam rolling longer than AddWallet did.
Ultimately however new affiliate funds are still going to be exhausted. The only difference is this time Bradshaw will be able to make off with a larger portion of stolen investor funds.
That is of course if the SEC don’t step in first. The Ponzi points business model is entirely familiar to them by now, but whether or not they’ll step in remains to be seen.
One thing is for certain though, being registered in Belize isn’t going to count for much. Bernardin and Bradshaw are based out of and accepting funds from investors in the US.
Round and round we go…
70% mandatory reinvestment makes this one of the worst HYIPs ever.
More willful blindness and deliberate obtuseness from the HYIP sphere.
They are ignoring Paragraph 14 from the criminal charging document against Zeek’s Dawn Wright-Olivares and Daniel Olivares. That paragraph, part of a larger whole that lays out the case for investment-fraud conspiracy, speaks to efforts to stem the outflow of cash by employing deceptions such as “80/20” allocations.
NOLINK: justice.gov/usao/ncw/forms/olivaresboi.pdf
There also a veiled (at least) reference to this insidious practice in Paragraph 22 of the indictment against Paul Burks.
By making 70 percent reinvestment mandatory, it shows that Genesis Global Network understands the Ponzi mechanics and is trying to broaden the conspiracy.
All of this crap about Ecuador and Belize is the same crap the AdViewGlobal scammers tried to pull. AVG, of course, was a reload scheme engineered by the people who brought the AdSurfDaily Ponzi scheme to the world.
And when AVG collapsed within a few months and left participants holding the bag, damned if they didn’t play the “rebates aren’t guaranteed card.”
PPBlog
They even have a name for them.
They are called “hit and runners” and are disliked almost as much as the Feds.
The usual suspect HYIP ponzi forums are filled with complaints about how the “program du jour” has been ruined by the dastardly hit-and-runners taking out their profit and not playing “fair” thus ruining it for the rest of the members.
Willful blindness and deliberate obtuseness don’t come close to describing the mindset of HYIP ponzi players
This article discusses Business Units which have not existed for a month. There are Genesis Coins and Product Units.
The 70 percent reinvest is really not a reinvest but they allow you to withdraw 30% of your genesis coins which are given to you for daily tasks. So your not “investing” into the Genesis Coins and then only can take out 30%..
Your GIVEN these coins and then can “exchange” 30% for cash and then make a withdraw…BIG ..BIG DIFFERENCE.
Business Units are mentioned on the Genesis Global website. Why are they misrepresenting the opportunity if they haven’t existed for a month?
And in any event, business units… product units – it’s still the same investment model. Do they really think renaming them “product” units make the business model any less of a Ponzi?
And the rest has to be re-invested.
Bugger all difference. The Genesis coins hold no value. It’s just a variation of VIP Points or a Ponzi point by any other name.
You invest, wait for new investors and get “paid” in worthless coins. Genesis try to trap as much real money into the system by only letting investors withdraw breadcrumbs at at a time.
Nobody is giving you coins for free. You paid real world money for those “coins”. And you can only redeem 30% of that at a time.
Simple math: you give them 100% of your money, they promise to add whatever percentage every day, then promise to give you 30% of that back.
Maybe serial racketeers and extortionists would be better.
PPBlog
All the information is about the old program.
BRANDON BRADSHAW HAS NEVER HAD ANYTHING TO DO WITH THIS COMPANY. NEVER HAS AND NEVER WILL.
1. no business units – been gone for over a month
2. 3 levels of membership
3. no levels of referral payments based on membership
4. No mention of Product Units
5. 70 percent is NOT A REINVESTMENT. You are given a bonus each day..much like a frequent flier program…and currently GGN ALLOWS you to convert 30% of your Coins to cash each pay period..which is every 2 weeks and not what the article indicates as monthly.
Basically, almost everythig in this article is not factual which is surprising because Troy is usually spot on. There are many things that could be said about GGN such as.
1. Over paying now to get money in and can they pay back
2. penny auction not clean..go to QKABIDS then Play2save
3. allowing Product Units to be dontated and then your receipt being sent in
and I could go on…but I can usually Rely on Troy having updated information and this is all old, with the primary issue being AddWallet and Bradshaw being part of it which if he is then they have done an amazing job keeping him silent, out of any communication, never on a call,etc.
I have personally had many people try to find out if Bradshaw is part of this and not one has come back with Bradshaw beinga part…and we are VERY sneeaakky….
interesting…at any rate..paying 12 dollars and being able to withdraw 30 after 1 month is pretty good. not to mention your account is growing .
Review??? I will call this an attack.
Do your research better next time.
Conclusion????? Again: Do your research better next time.
(The genesisglobal.bz is not updated yet)
BTW, no one can buy Genesis Coins. You need to EARN it. Or Buy/sell products and be rewarded with GC.
@Brett
Yet there’s a bajillion Genesis Global Network affiliates publicly claiming otherwise. Go figure.
So why is the opportunity being misrepresented on the Genesis Global Network website?
Did you even read the review?
Calling “Business Units” “product units” makes no difference. It’s still a Ponzi.
Blahblahblah. You are paid a ROI and can only withdraw 30%. Different rules, same old scam.
It’s based on what is presented to the general public on the Genesis Global Network website.
If Bradshaw and Bernardin are telling porky pies that’s not my problem.
QKABids is tied into this?
Interesting… Faith Sloan pimps QKABids on Facebook. I wonder if the SEC know she’s invested in Genesis…
This is the information presented to the general public by Genesis.
You said it.
After the AddWallet disaster, I’m sure you can appreciate why.
Ponzi admins are evidently sneakier. Copious amounts of affiliates didn’t just decide to invent that Bradshaw was involved.
P-p-p-ponzi scheme.
@Magnus
Call it whatever helps you sleep at night.
If Genesis Global Network are misrepresenting their opportunity to the general public, that’s on them.
Not my problem.
You invest your money, sit in the corner and receive a passive monopoly money ROI. Just like Zeek, just like AddWallet.
You don’t “earn” anything.
Sidenote: The lack of public updates is reminiscent of AddWallet’s last days.
Rules changing all over the place and Bradshaw not bothering to update the website.
You’re claiming Business Units were renamed product units a month ago and the site still hasn’t been updated?
Please.
They’ve got you’re money… now it’s just a matter of secretly changing the rules till you give up and move on.
Just like AddWallet.
From what I’m reading the rules are changing every few days. If Bradshaw and Bernardin can find the time to update their website inbetwen concocting new ways to keep investors from their money, I’ll be more than happy to update the review.
Till then this is the last known stable version of the compensation plan, and will probably come in use to analyze the origins of where it all went wrong when Genesis inevitably collapses.
You say:
You are wrong.
No one will receive GC without doing anything. And As I said, you can’t buy GC directly. They pay us GC for viewing ads. And if we buy or sell products. This is no passive income. one GC = $0.10
But I understand now that whatever I or anyone else say, you will pick it apart and make your claims.
But GGN should update the website so you could get the correct info from themselves.
Yeah, just like convicted Ponzi “Ad Surf Daily”. Nice try.
Take it up with the idiots on MMG then. You got proof that Bradshaw’s NOT involved? Good, show it. Otherwise, you’re just as much hot air as the other guy.
or maybe you’ve been fed a bunch of lies. Ever consider **that** possibility?
How many court decisions will it take before you admit “viewing ads” is not classified as “work” ESPECIALLY at the rate of return GC is claiming to pay ???
You pay your money, do some meaningless task and GC pays you an ROI at the end of 90 days.
You don’t have to worry about the SEC intervening, GC will collapse on its’ own long before the SEC takes a look at it.
You guys need to get your act together.
This line appeared on all of the “usual suspect” HYIP ponzi forums back in June 2014 when GC was first being pimped:
@Magnus
No, you are wrong.
Pull your head out the sand and go read up on Zeek Rewards and AdSurf Daily.
Posting ads, watching ads or whatever else bullshit Genesis Global has you doing is pointless.
Caselaw is already established that determines this sort of activity utterly pointless. The ROIs are passive.
Those that ignore history are doomed to repeat it. This isn’t our first Ponzi points rodeo.
Not just me, but the general public at large.
@Kasey
Note the one example I used was off MMG. There’s a mountain of other sources citing Bradshaw as a co-founder of Genesis Global.
The address for GGN in Belize is in a residential area, not in the business section of the city. They also do not give their company registration number on their website or anywhere else for that matter. We only have their word for it that they are truly registered in Belize.
I submitted a list of questions to one of the promoters of GGN at MMG, and the word back is Donald is to answer them all shortly. Can’t wait to read his reply.
GGN is not registered to do business anywhere they are doing business. So far it is all smoke and mirrors as they claim they are in beta and the launch will not be until February 2015, at which time the new website is also to be finished and launched.
Of course that is if they last that long.
From an affiliate call less than 24 hrs ago:
Lol, “product units”.
Same old bullshit; invest, do nothing and collect monopoly money ROIs.
Want out? Too bad.
“Prematurely” = ever.
The Fast Profits Daily scammers, after drafting off the AutoXTen scammers, had their own version of this. So did the individuals who ran the allegedly felonious Banners Broker “program.”
Of course, in this utterly pretentious world there also is a page in the scam playbook that reads approximately like this:
* Join a “program” that’s an obvious scam. Pretend it isn’t to build your downline. Note that chargebacks are prohibited.
* When the scam begins to teeter, express your moral outrage.
* Make a post on MoneyMakerGroup or another Ponzi forum that reinforces your moral outrage.
* Do an insta-pivot: Tell the troops it’s time to play the chargeback card.
* Pass the cost of those chargebacks to the banks or credit-card vendors after earlier pretending the “program” was a legitimate one that didn’t permit chargebacks.
* Keep your winnings. Move to the next outrageous scam. Do the same thing all over again.
PPBlog
Well, Brandon Bradshaw made his appearance at MMG and posted this:
Interesting isn’t it that so many of the members of GGN got it all wrong, or did they?
You see spekas was the first one at MMG to post he was a part of GGN. The post by nory that also said this at MMG was removed, which in itself is curious.
It is obvious that someone is not telling the truth. Only question is which ones?
I asked him why so many members said he was, but he has not replied back. Not sure if he will either. My guess is he won’t.
I hardly think it’s a co-incidence so many GGN affiliates were running around saying Bradshaw was a co-founder (not only on MMG, but all over the internet).
Also he was clearly helping run the show, why else would he be appearing on conference calls.
My theory is Bradshaw’s experience meant he wanted to take a backseat with GGN. Why wait until the scheme is falling apart to declare he isn’t helping run the show?
Lol, roll out the pseudo compliance BS.
It’s too late for any of that, the horse has bolted. Now that Genesis Global Network have your money, it’s time to clamp down in an effort to preserve it in the company’s bank accounts.
Didn’t Bradshaw and Bernardin learn pseudo-compliance doesn’t work when your core business model is a Ponzi scheme?
Seems like they learnt nothing during their time in AddWallet.
I have been watching this “evolve” since it started it Beta-Launch. One thing for sure is this keeps changing almost weekly. A lot of “shiny new objects” that are coming, including the new compensation plan. With this reference, here is the latest call of 12/3:
A lot of unhappy people at MMG and seems to be more people wanting a refund than wanting to put money into this. When Ken Russo wants out, you know this is a dog to avoid.
Have they put anything in writing yet? I like you have observed the carousel of rotating changes… waiting for Genesis to finalize their comp plan before I update.
I just was introduced to this program…I decided to some research..thank you for posting this information..
I have been trying to get out of this program for several months and get a refund and I have not heard from anyone in the company.
They have changed the program and it is not what I signed up for. They are underhanded and unreliable. Run Away and Stay Away from this program or any other MLM.
Is there a class action lawsuit that is/has been launched in which it would be possible to participate?
Please advise.
Thanks
Not likely, this one’s long cold. Report those responsible for your loss and chalk it up as a lesson learnt.