iGetMania Review: GetEasy go from Ponzi bad to Ponzi worse
GetEasy took off in the wake of the regulatory shut down of TelexFree.
Seeking to scoop up disenfranchised investors who lost funds in the billion dollar Ponzi scheme, GetEasy successfully attracted a significant number of investors from Portugal, Spain and to a lesser extent, South America and greater Europe.
Following a few months of growth, as is typical in Ponzi schemes in their initial traction phase, things began to fall apart in GetEasy after it was announced police in Portugal were investigating the company.
The investigation was announced in October last year, with ROI payments grinding to a halt after the Bank of Portugal issued a warning the following month.
As I understand it, GetEasy was primarily laundering stolen investor funds through Portuguese banking channels. Following the Bank of Portugal’s warning, GetEasy was left unable to secure legitimate banking channels to continue to pay off its investors.
That left GetEasy in limbo for a few months, with an announcement towards the end of last year revealing the company’s plans to operate their own bank.
Details on the specifics of this plan are sketchy at best, with one claim made by GetEasy already debunked by a regulator in Luxembourg.
What we do know however is that these new plans are to be implemented under the brand iGetMania, with GetEasy hoping to elude regulatory suspicion under a new name (because it’s apparently that easy to cover your tracks…).
Initially GetEasy announced their bank would be live in the first week or so of January, but that deadline came and went. We’re still following that story but in the meantime the iGetMania compensation plan has been released.
So today we take a look at GetEasy 2.0. Is it still a global Ponzi scheme offering ridiculous returns, or is there something to GetEasy’s investment bank plans?
Read on for a full review of the iGetMania MLM business opportunity.
The iGetMania Product Line
Whereas GetEasy sought to marry their Ponzi scheme to non-existent GPS tracker devices rented out to non-existent retail customers, music services and their own “GetCoin” virtual currency (see BehindMLM’s GetEasy review), iGetMania continues the fraud with claims of investment in “technology projects”, “health area” and “geo-locators and LED lamps”.
Despite GetEasy’s GPS tracker smoke and mirrors proven to be a fraud when the supplier company, whose name they borrowed, issued a statement saying they had nothing to do with GetEasy, iGetMania have adopted a similar approach.
The ruse this time around is that iGetMania are marketing products relating to health, technology and geo-locators (GPS trackers again) and LED lamps to retail customers.
As with GetEasy, one would imagine with a bit of digging it would be easy enough to debunk these claims. As with GetEasy, the customers purportedly purchasing iGetMania’s offerings simply don’t exist.
The iGetMania Compensation Plan
As with GetEasy, iGetMania sees affiliate invest funds with the company.
Where GetEasy saw affiliates make up to €1200 EUR in a single investment though, in iGetMania the stakes are raised with affiliates able to invest up to €200,000 EUR.
The investment amounts are offered via packs, with each pack corresponding to a certain amount of shares in GetEasy’s compensaton plan:
- Pack 1 (€200 EUR) – 1 share
- Pack 2 (€1000 EUR) – 5 shares
- Pack 3 (€3000 EUR) – 15 shares
- Pack 4 (€10,000 EUR) – 50 shares
- Pack 5 (€50,000 EUR) – 250 shares
- Pack 6 (€200,000 EUR) – 1000 shares
You’ll notice the cost of shares are linear, scaling up at a cost of €200 EUR per share.
Shares invested in by iGetMania affiliates are used to calculate how much of funds set aside by iGetMania they receive.
Each week iGetMania tally up the total amount of funds invested in by their affiliates. 10% of this is distributed via shares, pro-rata according to how many shares an affiliate currently holds.
Referral commissions are also paid out on investments in packs made by personally recruited affiliates, paid out as follows:
- Pack 1 – €10 EUR
- Pack 2 – €50 EUR
- Pack 3 – €150 EUR
- Pack 4 – €500 EUR
- Pack 5 – €2500 EUR
- Pack 6 – €10,000 EUR
Residual commissions are paid out to iGetMania affiliates via a binary compensation structure.
A binary compensation structure places an affiliate at the top of two binary teams, left and right.
These teams expand out as new affiliates are recruited into iGetMania. These affiliates can be recruited directly, or via the recruiting efforts of an affiliates upline and downline.
Each position in the binary represents a position a recruited affiliate has invested in. Points are allocated to each filled position, determined by how much was invested in the binary position at the time:
- Pack 1 – 40 points
- Pack 2 – 200 points
- Pack 3 – 600 points
- Pack 4 – 2000 points
- Pack 5 – 10,000 points
- Pack 6 – 40,000 points
New points in the binary (corresponding to new investment) are tallied up, with affiliates paid 10% of the point balance of their weaker team (the binary side that generates less points).
Ie. If an affiliate’s left team generates 5000 points and their right 10,000, the affiliate is paid 10% of 5000 (€500 EUR).
iGetMania don’t specify how often points are tallied up, but presumably binary commissions follow the same schedule as the ROI payments (weekly).
Note that once points have been paid out on, they are discarded and not used for calculation over the next pay period.
An iGetMania affiliate can also increase the amount they earn on their weaker team’s binary points, by meeting the following qualification criteria:
- generate 800,000 points in the binary and have at least five Diamond ranked affiliates in your lesser binary team = an extra 1% of the volume generated by your lesser binary team
- generate 800,000 points in the binary and have at least 5 Diamond ranked affiliates on either side of the binary = an extra 2% of the volume generated by your lesser binary team
Performance-based bonuses are available to iGetMania affiliates, directly rewarding them for encouraging new affiliates they recruit to invest.
Performance-bonuses are tied into pack points, with affiliates rewarded upon generating certain point milestones:
- Executive Platinum (160,000 points) – “travel to Europe”
- Executive Diamond (800,000 points) – “luxury watch”
- Executive White Diamond (2,500,000 points) – “Inter-continental travel for 1 week in 1st class”
- Executive Black Diamond (16,000,000 points) – “Service car high range exclusivity agreement” (car loan???)
Note that affiliates at the Executive Black Diamond rank appear to be charged an additional €490 EUR a year fee to retain their account.
Affiliate membership with iGetMania is tied into investment in at least one of their offered packs:
- Pack 1 – €200 EUR
- Pack 2 – €1000 EUR
- Pack 3 – €3000 EUR
- Pack 4 – €10,000 EUR
- Pack 5 – €50,000 EUR
- Pack 6 – €200,000 EUR
How much an affiliate invests in iGetMania directly affects their earnings potential through the iGetMania compensation plan.
As with GetEasy, all the talk of contracts with third-party suppliers of products and services by iGetMania is just puffery.
I know, hardly surprising when the same people are still running the scam but something that needs clarification regardless.
With iGetMania, all that appears to have changed is the name.
Affiliates are still offered ROIs paid out of newly invested affiliate funds, with recruitment incentives paid out as cash and via performance-based bonuses.
As with all Ponzi schemes, once new investment dries up, iGetMania will find itself unable to meet it’s weekly ROI obligations.
Despite this though, the company openly advertises an expectation that a 100% ROI will be paid out within a year:
Rather modest for a Ponzi scheme, but I suppose they expect to make up the difference with the points based system.
Mathematically that would certainly seem to be the case, with the direct ROIs only paid out of 10% of invested funds. The rest is paid out via the binary and referral commissions.
All in all, changing GetEasy’s name to iGetEasy is unlikely to fool regulators currently investigating the company. Ditto circumventing the financial restrictions currently in place thwarting the company’s attempts to launder funds to its earlier investors.
If anything the iGetMania rebrand might hasten the regulatory noose currently in place, as those fraud detection measures are in place for good reason.
Are the existing GetEasy members able to buy the shares using their hard earned money laying in the backoffice or they have to invest yet another time?
Does a GetEasy affiliate automaticly become an iGetMania affiliate?
Are you f***ing kidding me? “Hard earned money”??? HAHAHAHAHAHAHA!!!
Why won’t you ask the same scammers you gave your money to for advices, fool?
I thought my sarcasm was quite obvious. 🙂
Reading various Facebooks posts I noticed a lot of confuson amongst members. Apparently some leaders won’t continue with iGetManai, but will try to reborn GetEasy with Antonio Loios. Go figure. 🙂
Have a look on this facebook group, they are spanish but they are already moving legal actions against promoters and the company (geteasy and associated) – facebook.com/groups/371627039681588
CSSF say it’s a getmania is a lie, oh Michael Herzog “Let them know that we do not want criminals and fraudsters like Michael Herzog to be in a position to manage anyone’s money, especially the hard earned savings of American’s trying to support their families and plan for retirement.” – Security and Exchange Commission Office of the Whistleblower
Another sign of the apocalypse: when the minions starts to fight amongst themselves.
And this is Loios jumping out.
Most likely Loios wants to blame Fontoura and see if he can still take enough people with him to start another scam somewhere.
The same things happened with Pleimo earlier on.
In my view, there are 2 main reasons:
a) as said, they want to jump out early as to get some “sheep” with them thinking they are hones.
b) I suspect both Pleimo and TachoEasyiberica will be safe harbours for some of the money. As long as they detach from GetEasy / GetMania, whatever money they have on Pleimo and TachoEasyiberica will be safe there.
But its kind of funny to see TachoEasyiberica placing such a statement.
So…the company owned by Antonio Loios, which was suposedly merged with GetEasy, now jumps out and calls GetEasy for not being ethical.
So, technically, Loios is calling himself a scammer….LOL
No, CONSORTING with scammers.
If he starts a scam, will that be “give birth”, or is that cell division?
(Ozedit: Removed Spanish notice in image format that can’t be translated.)
update, Tiago Fontoura or Presidente (LOL) Tiago Fontoura canceled his facebook accounts.
I know who is FIRING emails to all over the financial globe. 🙂 (also the group moving to legal court)
Meanwhile Tiago cleans his hands, blame the others (as usual) and play the bloody Victim …………….
To be honest, Tiago is not the big shark here.
He was just the one showing up and risking is face.
As expected, now everyone turns on him, because he was there from the start just to be the sacrificial lamb.
Too bad no one goes after the other scammers.
Even people like that Carlos Neves are as dangerous as Fontoura. But now, they all use Fontoura as scapegoat and run away in the fog.
I would not like to have Fontoura´s life. He is pretty much the big target for everyone who lost money.
And at the same time, people like Mira Godinho, Loios, and others…they just run free to enjoy their money. They will wait till everything gets quiet and then will show up on a new scam somewhere.
Antonio Loios has just launched his own scam (viconcept.net). He and his minions are so creative that they used parts of TachoEasy logo to create their own.
Meanwhile, Tiago Fontoura is doing his best to erase any digital trace that connects him to GeatEasy. He better try really hard, ’cause I know a bunch of people who just looooove saving those sites and vídeos for future use, in court specially.
And the drama for me is that there are people who fail to see how much a scammer was Loios…and so many others.
The drama for me is that people fail to realize how their own nature makes way for this type of scam. And before they can realize this, they will be pray to the next ones with very few on the top of the food chain.
Its kind of natural selection but its sad nevertheless.
People dont realize that the big sharks could do nothing without all the little “workers” down below. No Ponzi scammer would ever profit without people willing to follow them.
Another side of the drama is that most people dont even want to go and give names to local authorities. Because then they may be also responsible for people they signed in. So most people will hide and wait for better times….or the next oportunity to get rich out of the blue….
Regarding the payments up to 500€:
Upon researching the source code it was found out that the input field of the ammont sum has the attribute Disabled.
Surely a bug, right?
People should search a top leader called Hernâni Gonçalvez, this guy is nowhere now that thing are not running smooth.
Spain issued an alert on Igetmania and specifically on fusionclubglobal website which was promoting it in Spain.