Global Sponsorship Network Review: GDP Ponzi points
Global Sponsorship Network, commonly abbreviated as “GSN”, provides no company ownership or management information on its website.
GSN’s website domain (“mygsn.com”) was first registered in 2012. The private domain registration was last updated on June 6th, 2020.
Considering GSN promotion began after this date, this is likely when GSN’s owners took possession of the domain.
Further research reveals two notable individuals tied to GSN promotion; Steve Chiang and Simon Le.
Steve Chiang is presented as GSN’s CSO (Chief Sales Officer?).
Chiang popped up on BehindMLM’s radar in early 2019, as co-founder of the collapsed Nasgo/ShareNode Ponzi scheme.
Chiang was promoting Nasgo/ShareNode in the US. News of an SEC investigation into Nasgo broke last October. As of yet however nothing further has been made public.
As Nasgo/ShareNode was collapsing, Chiang fled the US for Singapore. He is believed to have been laying low there until GSN’s launch on or around August.
Simon Le was a top earner in the notorious OneCoin Ponzi scheme. Le is largely responsible for coordinating promotion of OneCoin across the US and Vietnam.
Le abandoned OneCoin earlier this year and went off to launch his own clone, OneLink.
OneLink launched in April but flopped shortly after launch. The OneLink website is still up but Le has otherwise scrubbed all promotional material off the internet.
Le’s role within GSN is not disclosed. He is currently hosting GSN corporation promotional events in Vietnam.
US authorities have indicted several OneCoin executives. As a top earner in OneCoin with ties to management, whether Le is wanted by US authorities is unclear.
Given both Chiang and Le have experience running scams, and the absence of anyone else promoting GSN, it’s a good bet the two are running GSN.
Read on for a full review of Global Sponsorship Network’s MLM opportunity.
Global Sponsorship Network’s Products
GSN has no retailable products or services, with affiliates only able to market GSN affiliate membership itself.
Global Sponsorship Network’s Compensation Plan
GSN affiliates invest 500 or 1000 USDT for GDP at a 1:1 ratio. GDP is a worthless shitcoin created by GSN on demand.
Once invested in, GDP is parked with GSN on the promise of returns as high as 30%.
Investment periods with GSN range from seven to thirty days. The longer an affiliate leaves their USDT with GSN, the higher their return rate.
In one example provided in GSN marketing, a 116% ROI is paid after 23 days:
Note that GSN pays returns in GDP.
GSN Affiliate Ranks
There are fourteen affiliate ranks within GSN’s compensation plan.
Along with their qualification criteria, they are as follows:
- Sponsor – sign up as a GSN affiliate and invest
- Pro – generate 60 investments in one month across your personally recruited affiliates
- Bronze – generate 3 personally recruited Pro ranked affiliates
- Silver – generate 3 personally recruited Bronze ranked affiliates
- Gold – generate 3 personally recruited Silver ranked affiliates
- Platinum – generate 3 personally recruited Gold ranked affiliates
- President – generate 4 personally recruited Platinum ranked affiliates
- Executive President – have 1 President or higher anywhere in your downline
- Senior Executive President – have 2 Presidents or higher anywhere in your downline (one per leg)
- International Executive President – have 3 Presidents or higher anywhere in your downline (one per leg)
- Chief Executive President – have 4 Presidents or higher anywhere in your downline (one per leg)
- Chairmans Club – have 5 Presidents or higher anywhere in your downline
- Executive Chairmans Club – have 7 Presidents or higher anywhere in your downline (one per leg)
- Senior Executive Chairmans Club – have 10 Presidents or higher anywhere in your downline (one per leg)
GSN’s residual commissions are tied to rank and paid monthly:
- qualify at Bronze and receive $1000 a month
- qualify at Silver and receive $2000 a month
- qualify at Gold and receive $4000 a month
- qualify at Platinum and receive $8000 a month
- qualify at President and receive $20,000 a month
- qualify at Executive President and receive $25,000 a month
- qualify at Senior Executive President and receive $30,000 a month
- qualify at International Executive President and receive $35,000 a month
- qualify at Chief Executive President and receive $40,000 a month
- qualify at Chairmans Club and receive $100,000 a month
- qualify at Executive Chairmans Club and receive $200,000 a month
- qualify at Senior Executive Chairmans Club and receive $500,000 a month
Joining Global Sponsorship Network
GSN affiliate membership is tied to a 500 to 1000 investment made in USDT.
A $20 transaction fee is also charged.
Global Sponsorship Network is an MMM Global Ponzi clone.
MMM Global pitched itself as “money transfers between private persons”. GSN pitches itself as a “global micro lending platform”.
MMM Global solicited investment under the guise of “providing and getting help”. GSN uses “providing and getting sponsorship”.
MMM Global used Mavro Ponzi points. GSN uses GDP Ponzi points.
The same 30% a month ROI is offered, which equates to 1% a day.
Instead of paying straight level commissions, GSN does differentiate itself by tying residual commission to rank.
Those ranks are tied to recruitment and recruitment investment, so as far as the flow of money goes there is no difference.
MMM Global’s commissions were paid out of recruitment derived investment. So too are GSN’s residual commissions.
Together GSN’s 30% monthly returns and rank recruitment monthly commissions create a Ponzi pyramid hybrid.
The important thing to note here is that returns are only realized when withdrawals are made. GSN can only pay withdrawals as long as invested USDT doesn’t exceed company-wide withdrawal requests.
Once withdrawals exceed the rate of invested USDT (this inevitably happens in every Ponzi scheme), GSN heads towards collapse.
GSN doesn’t specify how it plans to exit-scam, however from the Ponzi points model used we know there are only two options:
- GDP will be dumped on a few dodgy exchanges and GSN management will disappear; or
- GSN management will skip the public-exchange dump and just disappear.
In both scenarios the majority of GSN affiliates lose money. This is unavoidable Ponzi math.
In an attempt to appear legitimate, the “legal” section of GSN’s website claims “GSN Technologies Inc.” has a Money Services Business license (MSB).
MSBs are processed by FinCen and GSN Technologies is indeed is registered for an MSB.
As far as regulatory due-diligence goes however, this is meaningless.
GSN’s MSB filing was made with a virtual address in Denver, Colorado. FinCen don’t verify the information and MSB registrations can be electronically filed.
More importantly, an MSB license does not permit GSN, Steve Chiang or Simon Le to offer securities in the US.
An MSB only covers the transfer of money. It has nothing to do with MLM companies offering passive investment opportunities.
In order to operate legally in the US, GSN needs to register with the SEC.
Neither GSN, Steve Chiang or Simon Le are registered with the SEC. Meaning in addition to Ponzi and pyramid fraud, GSN is committing securities fraud.
GSN isn’t registered to offer securities in any jurisdiction, meaning the company operates just as illegally the world over.
The reason for this is simple: GSN is a Ponzi scheme that shuffles newly invested funds around to pay existing investors.
To summarize; Global Sponsorship Network is a Ponzi scam run by serial scammers.
To confirm how GSN will end, look no further than Steve Chiang’s involvement in Nasgo and Sharenode. For Simon Le it’s OneCoin and his short-lived OneLink Ponzi clone.
OneCoin alone is responsible for over $4 billion in investor losses.
Update 24th July 2021 – Global Sponsorship Network has collapsed, twice. A third reboot was announced by Steve Chiang in late May.
Behind MLM published a GSN 3.0 review on July 24th, 2021.
Where is Tiffany Le? She was always at Simon’s side yet she hasn’t been seen or heard of since last December
Fred Fok is now promoting GSN too:
Unfortunately, the fine he got from Singaporean authorities for promoting OneCoin (–> https://behindmlm.com/companies/onecoin/fred-fok-fined-71700-for-promoting-onecoin-in-singapore/) didn’t put end to his scamming.
The Singaporean auhtorities must take stronger actions against Fred to show that crime doesn’t pay.
Wonder how long before Eric Tippetts joins up with his co-partner in crime? After all he is also somewhere in SE Asia trying to avoid US authorities for his role in the NASGO/ShareNode Ponzi.
Oh wait, I forgot. Eric was duped, lied to, and taken advantage of his good reputation; and didn’t know that he was part of a massive Ponzi, or so he claimed in his video.
It is always fascinating to me to see Co-founders of a company who claim to be successful businessmen/women, and yet be so dumb not to know they are part of a Ponzi. Kind of destroys the image of being a successful business person doesn’t it.
Lynn you are spot on. Eric knew all along, he was selling Nasgo “delegate” positions to investors hard early in the game before the thing went live on bitforex.
He’s your typical narcissist disguised as a trustworthy businessman, the satanic Zack Morris from saved by the bell. Hellbound with a side of gravy the lot of them.