iPro Network Review: Pro coin cryptocurrency with cashback
The iPro Network website provides no information about where the company is based out of. It does however name Armando Contreras as iPro Network’s CEO.
Curiously, the iPro Network website claims Contreras (right) has owned ‘multinational businesses in various industries Travel, Insurance, IT, and Live Event Conference‘. He also purportedly ‘over 15 years experience in direct sales industry‘.
Yet I couldn’t find anything about Contreras non-MLM or MLM businesses. That’s pretty strange for “over 15 years” of network marketing experience.
I’m not saying Contreras’ corporate bio is completely made up, but the lack of verifiable third-party information (or even a professional footprint) is highly suspicious.
Read on for a full review of the iPro Network MLM opportunity.
iPro Network Products
iPro Network has no retailable products or services of its own, with affiliates only able to market iPro Network affiliate membership itself.
Once signed up iPro Network affiliates invest in Pro coin.
iPro Network claim there will be 15 billion Pro coins circulated, with a starting value of 2.5 cents each.
Pro coin is not publicly tradeable and is currently only available via an iPro Network affiliate membership.
The company has also announced plans to launch a “Retail Discount Platform”, through which holders of Pro Coin (affiliates) can purchase products and services from third-party retailers.
A rebate is available on purchases made through the platform, paid to affiliates in Pro coin.
A company by the name of “Pro Commerce” seems to be developing Pro coin, as well as the e-commerce platform (Pro Rewards).
Carlos Contreras is the cited “project founder” of Pro Commerce. Whether he’s related to iPro Network’s Armando Contreras is unclear.
The iPro Network Compensation Plan
The iPro Network compensation plan sees affiliates invest in Pro coin. Commissions are paid when they recruit others who do the same.
Note that 70% of commissions earned by iPro Network affiliates are paid in cash. The remaining 30% is paid in Pro coin.
Recruitment Commissions
When an iPro Network affiliate recruits a new affiliate who invests in Pro coin, they are paid a 10% recruitment commission.
- recruit a $100 package affiliate and receive $10
- recruit a $500 package affiliate and receive $50
- recruit a $1500 package affiliate and receive $150
- recruit a $2500 package affiliate and receive $250
- recruit a $5500 package affiliate and receive $550
Residual Commissions
iPro Network pay residual commissions via a binary compensation structure.
A binary compensation structure places an iPro Network 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 in the same manner, with each new binary level housing twice as many positions as the previous level.
Positions in the binary team are filled via direct and indirect recruitment of new iPro Network affiliates. Note there is no limit to how deep a binary team can grow.
At the end of each week iPro Network tally up investment volume on both sides of the binary team.
Affiliates are paid a 10% commission on investment volume generated on the weaker side of their team.
Unmatched volume on the stronger binary side is carried over.
Note that weekly residual binary commissions are capped, based on how much an affiliate invested when they signed up:
- Basic affiliates are capped at $500
- Intermediate affiliates are capped at $2500
- Accelerated affiliates are capped at $7500
- Advanced affiliates are capped at $12,000
- Professional affiliates are capped at $35,000
Matching Bonus
iPro Network affiliates earn a 10% matching bonus on residual commissions on up to four levels of recruitment (unilevel):
- level 1 (personally recruited affiliates) – 10%
- level 2 – 10%
- level 3 – 20%
- level 4 – not disclosed
How many levels the matching bonus is paid out on is determined by how much an iPro Network affiliate invested when they signed up:
- Basic affiliates do not earn a matching bonus
- Intermediate affiliates earn the matching bonus on level 1
- Accelerated affiliates earn the matching bonus on levels 1 and 2
- Advanced affiliates earn the matching bonus on levels 1 to 3
- Professional affiliates earn the matching bonus on levels 1 to 4
Leadership Rank Bonus
The Leadership Rank Bonus is a rank-based bonus, corresponding with qualification of the following iPro Network affiliate ranks:
- Pro 1 – $50
- Pro 2 – $200
- Pro 3 – 1% bonus commission on investment volume generated by personally recruited affiliates
- Pro 4 – 1.5% bonus commission on investment volume generated by personally recruited affiliates (Pro 3 ranked affiliates reduce the percentage to 0.5%)
- Pro 5 – 2% bonus commission on investment volume generated by personally recruited affiliates (0.5% paid on recruited Pro 4 ranked affiliate teams and 1% on Pro 3 ranked teams)
- Pro 6 – 2.5% bonus commission on investment volume generated by personally recruited affiliates (0.5% paid on recruited Pro 5 ranked affiliate teams, 1% on Pro 4 ranked teams and 1.5% on Pro 3 ranked teams)
- Pro 7 – 3% bonus commission on investment volume generated by personally recruited affiliates (0.5% paid on recruited Pro 6 ranked affiliate teams, 1% on Pro 6 ranked teams, 1.5% on Pro 4 ranked teams and 2% on Pro 3 ranked teams)
A “ranked team” refers to the rank of a personally recruited affiliate and their downline.
Eg. You recruit an affiliate who eventually qualifies at Pro 3. That affiliate’s downline (which is within your own downline) is now a Pro 3 ranked team.
Note iPro Network have not publicly disclosed affiliate rank qualification requirements.
Joining iPro Network
iPro Network affiliate membership is $50 plus a fixed investment in one of the following five packages:
- Basic – $100
- Intermediate – $500
- Accelerated – $1500
- Advanced – $2500
- Professional – $5500
The primary difference between the investment packages is income potential via the iPro Network compensation plan.
Conclusion
Despite the heavy marketing of iPro Network’s planned Retail Discount Platform, there are two disconnects that need to be addressed.
The first is whether or not third-party merchants will be accepting Pro coin or fiat currency on the backend.
The impression I got was that iPro Network were just offering a regular affiliate network, on top of which they’re overlaying Pro coin.
That is to say while it looks like you’re paying for goods and services in Pro coin, on the backend iPro Network are sending fiat currency to merchants.
If merchants are accepting Pro coin off the bat, who are they and given Pro coin is not publicly tradeable, how are they converting Pro coin to a currency they can run their businesses on?
The second disconnect is that whatever does or doesn’t happen on the Retail Discount Platform is entirely detached from the MLM opportunity.
iPro Network’s MLM offering is a speculative investment opportunity, no different to the mountain of MLM altcoins already launched.
Affiliates sign up, invest money, receive non-publicly tradeable tokens in exchange and hope the price goes up – so that eventually they can cash out.
With Pro coin not being publicly tradeable, iPro Network wholly control the value of the coin – which is the same old Ponzi points story we’re all pretty familiar with now.
New investment eventually dries up, iPro Network are starved of cash and affiliates are hit with withdrawal problems.
Pay to play is also a compliance issue, with the more an affiliate invests resulting in a higher income potential.
Speaking of compliance issues, the iPro Network website claims Armando Contreras has ‘a global management teams with a specialized US attorney‘.
A quick search of the SEC’s Edgar database meanwhile turns up nothing for iPro Network.
iPro Network are quite obviously offering a security by way of affiliate investment packages. Without appropriate registration with the SEC, iPro Network are committing securities fraud.
With Alexa currently estimating over 90% of traffic to the iPro Network website originates out of the US, this is a major red flag that should not be ignored.
The Achilles’ Heel of every MLM altcoin is usability of the coin outside of the income opportunity.
The only buyers and therefore users of Pro Coin are speculative affiliate investors investing thousands of dollars. For no other reason than they hope to cash out a ROI at later stage.
This isn’t going to attract legitimate merchants who directly accept Pro coin, which in turn means nobody but affiliates are going to use the coin.
Retail customers (non-affiliates) aren’t going to go anywhere near it.
Once all the pyramid recruitment commissions have been paid out and short of continued artificial manipulation by the issuer of the coin, ultimately iPro Network affiliates will be left holding yet another worthless MLM altcoin.
Update 29th April 2017 – As of April 27th, ProCurrency (formerly Pro Coin) is now publicly tradeable.
The current public value of the coin is 8 cents.
The only info that I need to deem this as another scam, is that the OneCoin Ponzi pimps here in USA are flocking to it.
Now that their previous scam is drying up fast, pumpers like Dr. Break Wind(farts) are promoting this new crap. Unbelievable, they didn’t even take time to mourn the loss of their OneCrap scheme!
But, they are unable to sign up any new recruits to OneCrap in USA. So, they move on to the next junk out there!
“Pro is the Future of Commerce.” Déjà vu.
There’s a chicken and egg problem here, well more than one really but Pro Commerce (or Pro Currency, not sure which they are going with) is, or at least pretends to be a separate entity from iPro Network even thought they seem to be launching more or less at the same time and both are being lead by a person named Contreras (perhaps they’re not related).
iPro Network seems to be Pro Commerce only with a chain recruiting pay plan and Pro Commerce seems to be a legitimate effort at an e commerce platform that can only be harmed by an association with a pyramid scheme (assuming it can get itself off the ground without additional funding).
Pro Commerce raised a bit better than $80K in their Initial Coin Offering (think IPO only without anything even remotely like a securities registration) which should keep the lights on at their home office (where ever the hell that is) for a little while at least.
But their goals, such as capturing 1% of the global commerce market (page 27 of their whitepaper) are far more grandiose. They need outside funding. Is that where iPro Network comes in?
So, is Pro Commerce an attempt at being a legitimate company that just so happens to be a tailor made pyramid sales pitch for the Tom McMurrain’s of the world or are they merely denying that they are acting as a front end for iPro Network?
In the end it generally doesn’t matter. McMurrian’s chickens turn into goose eggs for almost all the people he cons into joining the schemes he promotes and this wont be different.
Something is wrong with that photo of “Armando Contreras”.
I tried searching for that picture. It ONLY exists on ipronetworks.
And what’s REALLY interesting about it is it’s Alpha-channel masked, i.e. it’s been CUT OUT of a regular background. It’s ALREADY been digitally manipulated so it can go over ANY BACKGROUND. The file itself is even called “Armando-cutout.png”.
And you’d think he can at least afford to buy a shirt that has the right size collar, eh? Yet this shirt is clearly 1 size too small.
It may help to connect the dots from whomever dr. breakthrough’s upline recruiters from onecoin in the US were. In order to figure out the origin of this new scam, which they’ve jumped to.
I know that he is pumping this new junk.
Dr. Breakthrough’s upline recruiters are Maurice Kattz (sp?) and Sal Leto, from what I’ve put together.
The two are (or seem to be) “silent promoters” in that they use DIRECT communication these days, as opposed to social media (other than some Twitter posts by the former).
Out appears that Maurice is tied into the banking world, particularly that of Herve LaCorne (specifically the “moonlearning” gift code/ money laundering channel).
I suspect/ know this because of two reasons:
1.) I attended Onecoin’s pathetic “USA launch” in Downey, California in June 2015; and
2.) inside information tells me that both are very active in building networks outside the USA, and particularly Africa.
This it’s where I learned of Maurice’s affiliation with (but not limited to) the moonlearning channel.
The same goes for Carlos Contreras (his supposed son?) who has just collected $70k thru ICOing procurrency to Asian kids.
They can be tracked to a Stanton CA street where a Contreras family live, but not a Carlos. The whole thing is a boring joke.
THE SAME OF LUCRZON TEAM.
Are they even pretending to sell anything?
Pretty much looks like a OneCoin clone.
The talking points that are being promoted by ex-onecoiners are that this is going to be even better than onecoin, because instead of waiting on merchants; they are putting the merchants first and letting the Pro Coin gain in value.
They predict that it will go from 4 cents a coin to $8.00 a coin by end of 2017. They are hooting and hollering that $5,500.00 sign-up will earn them $80,000.00 by end of year.
And I say ex-onecoiners, because they have been told here in USA not to promote anymore (even behind closed doors). But, they still believe that OneCoin will make them filthy rich some day.
these days there are a lot of cryptocoin pump and dump scams. these days there are also a lot of MLM scams dealing with fake crypto’s [eg; onecoin] or valueless crypto’s [ eg; GCR coin].
with procoin [PROC] somebody has sat down and worked out a plan to run a pump&dump and an MLM pyramid in tandem, and reap the returns from both scamworlds in one go!
over at bitcointalk.org, though procoin has generated some interest, it is suspected to be a scam due to deficiencies in its whitepaper, it’s low ICO target, and lack of transparency from the developers.
the procoin ICO [initial coin offering] attracted investment due to the development teams accent on ‘usability’ of the coin. the devs had promised an App that would function as a ‘retail discount app’ via which merchants would pay rebates in procoin.
inspite of direct questions asked, the devs refused to share any information about whether any merchants had agreed to deal in procoins.
in response to questions, procoin devs merely reiterated that the pro-commerce App users could purchase stuff from top retailers like walmart, macy’s etc, and get rebates in procoin.
now, think of a ‘Dubli’ [the MLM] like App via which you can shop from walmart, macys etc and get cashback. dubli is merely an affiliate marketeer with these retailers, it has no special agreement with them.
similarly [i suspect], pro-commerce will be affiliated with top retailers, and instead of giving cashback they will hand out worthless procoins to shoppers on their App [keeping the cashback themselves!]
even though the procoin ICO has ended, the coin has still not been listed on any cryptocurrency exchange and their App is also running late.
after creating a false impression of ‘usability’ of the procoin, the devs have managed to generate around $80,000 from ICO investors. now they will sell their coins via the ipro-network MLM scheme, and in the end, make off with some pump and dump money as well. and of course, the ‘cashback’ from retail sales via their App. its like an algorithm for the maximization of income from a single scammy idea!
carlos contreras is real, and is the promoter of pro-commerce as well as the developer of procoin:
youtube.com/watch?v=n8tMGH6eE4E
The cringe level for the intro on that Carlos Contreras vid is over 9000.
Dude looks like his mum caught him browsing porn.
Yeah, I understand that he physically exists, but his bio has the same made up feel as the other Contreras’ with a similar lack of any Net history.
To quote him re relationship with iPro Networ:
I feel I’m missing something here.
The only procoin in circulation are those bought during the ICO. Investards paid real Bitcoin, ostensibly to be used as work in progress finance to pursue development of the (dead in the water) retail cash back strategy and further nail ons.
About 2.5m procoins were sold to raise this money, out of a total of of 15 billion. The majority of those unsold coins are being escrowed to give credibility, with a still huge amount (25%) under discretional control of the devs, in theory only to be used in the coin back App on which all this nonsense is hung.
The other 75% are milestone released by escrow against future Apps.
Baby Contreras also says
So I’m struggling to see how iPro affiliates are going to get their procoins in any numbers thru the present distribution system, without immediately ringing alarm bells.
they have an app with some ‘educational courses’ on it, on completion of which people will receive procoins as rewards. maybe people investing in the ipro network will be provided these courses and receive procoins as rewards, which will be released from the escrowed coin? just a guess.
you could pose this question on bitcointalk.org where a dev called ‘patriarch’ [carlos contreras??] steps in from time to time to give updates and answer questions.
this is the procoin thread:
bitcointalk.org/index.php?topic=1747896.960
That wouldn’t release them in the amount and time scale necessary to satisfy the MLM crew expectations imo.
Yes, I’m aware of the thread, if you read it thru you’ll find a number of posts from me pointing out the absurdity of it all until I got bored with talking to my hand, with a motley selection of shills single mindedly convincing each other that this nonsense has merit.
It’s sorta interesting the ways the Pro Commerce sales pitch in the bitcointalk thread linked above differ from the iPro Network pitch in the following video:
youtu.be/cXZtWoIUvcY
First off the narrator of this and several other iPro videos is Daniel Pacheco. He’s a veteran of PureLeverage, True Cash Network, several Randy Jeffers’ companies (and on to Changes Worldwide) but when I saw a video where Danny introduced himself as a co-founder of Lucrazon Global I knew iPro Network had the exact type of person they needed to launch the type of company they seem to want to be.
Skip the first ten+ minutes of that vid, its nothing but vapid marketing twaddle and isn’t even about iPro network.
@13:30 we see a slide with iPro’s count them, one, two, three marketing platforms. They have retail sales possibilities coming out their ass.
The first is their rebate rewards app as seen on the ProCommerce website. 4K+ merchants are already claimed to be enrolled. Purchases seem to be made in fiat but instead of rewarding you with the same they give you ProCoin instead (which has more than doubled in imagined value already and it hasn’t even launched yet).
Second (@16:55) is
DealShakerthe e Marketplace. Vendors selling here must agree to take between 20 and 100% Procoin for items sold here. Since one major focus of iPro’s education packages is to teach affiliates how to sell crap online it’s a sane guess that the affiliates are expected to become a large part of this vendor network (look how well it’s working for OneCoin).@17:50 they introduce the 3rd sales platform, the iPN Pro Mall which will have the same sort of high quality items you’d find on Amazon only at deeply discounted prices and all purchases will be in100% ProCoin. I’m pretty sure I don’t believe a word of this, perhaps they’ll prove me wrong.
@19:30 they launch into iPro Network’s affiliate membership packages. I picked this particular video because it did a better job than others of explain one single point I’ve seen some confusion about.
The base level package ($100) comes with a 100% “coin back rebate.” This isn’t the percentage of rebate an affiliate can earn off of purchases through the apps as some are saying, it can only mean that if you buy a $100 package, in addition to what I’m sure are just some really excellent marketing videos you also receive 100 ProCoin (currently alleged to be worth $4). The $5.5K package nets you 6,050 Procoin.
Yet listen to the 27 minute mark in the video, it really does sound like they are claiming the 100+% rebates are on retail purchases through their app. But that doesn’t make a lick of sense, unless they’re pitching this deal to the people who purchased their financial education from OneCoin.
I lost $153 and a work collegue $550. I want to file a fraud lawsuit against ipro network but they are not a company in the us. What should I do?
How did you pay? They’re only a new company so you should still have time to file a chargeback I’d imagine.
Tell us a story Laura, how did you lose money, what happened?
I sent a chashiers check to the address in sf CA. The bank will not take calls. I certified it at the post office. I want out after I found out about the scam, iPro
Network is not a legal company. I am considering calling my lawyer.
Laura, does this look familiar?
If so, perhaps give that customer support number a try. Be polite but firm, don’t let them jerk you around but don’t give them a reason to blow you off.
If push comes to shove reporting them to Wells Fargo’s fraud department is your leverage. Bank wires and cashier’s checks are not the preferred payment methods for legitimate businesses.
Your ace in the hole here is that before Fintact Solutions Group started funneling money to iPro Network they were funneling money into OneCoin. If needed we can supply you with proof. That OneCoin connection is the one thing the folks behind Fintact don’t want their bank to know.
I can not file a chargeback if they changed the bank number and account the check was sent to.
You file a chargeback with your bank, not the receiving bank.
Yes that is the info I and my colleague used to send money. That customer support number is no longer valid. So I guess they know the gig is up.
I will go to my bank today and file the charge back and then call Wells Fargo fraud department or better have my branch manager do it.
Whatever other info you can give me would be great. I plan on holding the up line people here in Denver accountable for this if this turns as ugly as I think it will.
Thanks a bunch
Please give me more info about Fintact Solutions the account has been shut down. Thanks.
I called Fintact Group. They are very evasive.
Their person on the phone said they never had any involvement with onecoin or onelife. Please send proof that they did and I will launch a revolt.
You called up a shell company?
Ok Oz how do I get to the bottom/top of this scam?
Laura, please clarify what information you have on their bank account (#5248738816) being closed. Thank you.
As to their involvement with OneCoin, it’s a bit tricky but stay with me. The contact link for the website fintactgroup dot com lists their address as:
That is the “Beneficiary Address” of the business you sent your cashier’s check to. Correct?
If you look at fintactgroup dot com you can tell they spent some cash on it, nice looking website. They claim to:
Sounds impressive, huh? Now Google them, they’re a ghost, no one has ever heard of them, no one (besides us) talks about them. They didn’t exist before last December. You can however find the names of the people behind them if you search for Fintact Solutions Group on the following website:
wyobiz.wy.gov/business/filingsearch.aspx
Notice there are two separate records, they dissolved their original reregistration and paid a brand new filing fee just to remove Sal Leto and Matthew Lopez’s names from the official record. That site will also give your laywer some addresses to play with. 😉
Feed the following text into Google:
site:fintactgroup dot com (replace dot with an actual dot) and you’ll find something that looks like this:
imgur.com/yGcSmCb
Now if you click on any of those search results you’ll get a 404 page not found error, they removed ALL of those pages from their website. The Google results are showing pages that were there until very recently but no longer are.
But that photo is of the current Google search results and those results are the membership package names and corresponding price points in OneCoin.
OneCoin can now longer get a bank account in their own name or even publicly associate themselves with an account number, they need their affiliates to set up accounts to funnel money to them and that is exactly what Fintact Solutions Group, LLC was set up to do.
Only now they funnel money into iPro Network. This isn’t exactly legal. Show this info to your attorney and have him give Fintact a call.
Laura who is your upline in Denver?
I just found this. The shell company is running.
I took a pic of their filing for 2 different companies on 3/3 and then 3/4/17 in Huston. Sorry I can not attach the pic of the filing from my iPad to this iphone.
I would advise against engaging someone who isn’t upfront any further.
Over and out.
Oz how can I be upfront and help Laura out without putting my identity all over the web. Many people have already been taken advantage of and I am here to help stop it. Any suggestions?
How?
Good question OZ.
I have enough for my mlwyer to go without any more from DECT.
By getting her in touch with people that are collecting data for authorities. These are people who also prefer to not be identified over open channels.
I feel sorry for someone being scammed for $153 and $550. I am helping people right now that have thousands that they have been taken for.
Power in numbers together get things done. Only trying to help. How do we connect people?
I’d suggest getting in contact with authorities individually. There’s no advantage to doing in a group.
Right now you’re sounding like someone trying to datamine for whatever reason.
No reason to datamine. Going to the correct authorities gets things done. No more comments from me to help out when it really was that simple.. helping someone out.
I hope Laura success in getting her money back. We is stronger than I. Hopefully nobody else falls for these scammers.
Nothing personal. Just better to be safe than sorry in these situations.
@DETC, might I suggest an additional path? Do what you are going to do but also publicly share what information you have and feel is appropriate to do so.
Fintact Solutions Group was designed to function as invisibly as possible. The OneCoin scam has had 20+ banks kick their ass to the curb and that cut off the cash flow they need to survive. Fintact was just one of many clandestine and surreptitious third party banking relationships created to keep some portion of that cash flowing.
But early this year OneCoin realized that it was in their best interest to stop pretending they aren’t accepting investments from the people in the USA and flat out stop accepting investments from people in the USA. They are not mistaken in doing so.
But that means that if the people behind Fintact Solutions Group want to make money off of recruiting investors in the USA they can not do it for OneCoin. Enter iPro Network, call it OneCoin 2.0.
These folks are still 40+ days away from their scheduled launch and I wouldn’t be amazed if Miss Laura was correct when she said that their published bank account was closed. Information made public is well, public.
If it would have been possible to strangle OneCoin in it’s crib it would have saved hundreds of thousands of people billions of dollars. Reload scams are almost never as successful as the scam they are imitating but iPro Network will do all it can to bilk as many people as possible.
Is that ample reason enough to share what you know to help limit the damage they can and will do?
GlimDropper thanks for the words of advice. I need to find out what I can release now. I do not want to screw up what we have in the works with authorities. The hammer is coming and as soon as I can release info I will.Lots of hours have been put into helping stop the scam. More to come as soon as I can.
Godspeed and good luck DETC.
Hey DECT and anyone else reading. I think DECT is s Mole.
Fintact keeps calling me Why? I want my money back from their fraudulent account maybe.
DECT give us a little bite of your proof or get out of here.
Well if Chris, Charlotte, Matthew, Sal or any of the other fine folks over at Fintact are reading this (Hi Guys) let’s hope they’re going to be smart about this.
Compare the cost of a refund to the price of publicity and not the good kind.
I can’t speak for Ms. VanHarn but I suspect that she’d be willing to commit to returning to this topic 72 hrs after the refund check clears to report that despite a sorta rocky start Fintact Solutions Group did in fact make good on their promised refund.
Or is simple professionalism too much to ask?
@Laura – DECT it’s NOT a mole.
You may message me on Twitter @ezCoinAccess for verification if you like. Neither of you need reveal your identity, but DECT is NOT a mole. I can guarantee you that.
I know exactly who he is and he is providing intelligence that will be used against the scammers. Fact.
Hey Tim, I have a twit account but help me get to your secure communication area.
@Laura – look again. I’ve been fighting the Onecoin scam for over 23months along with many other contributors.
You can also find my work here:
news.bitcoin.com/beware-definitive-onecoin-ponzi/
And HERE:
cointelegraph.com/news/keep-money-in-the-game-onecoin-moves-on-to-new-fantasy-blockchain
And I’m working with this team:
onecoinonelifefacts.blogspot.com/2017/03/prohibitions-and-warnings-by-legal.html?m=1
🙂 Try PM me on FB if You like @TimTayshun
All this talk of moles is offtopic. Let’s move on.
General rule of thumb: be careful who you share personal details with over the internet.
OZ you are spot on, sorry. Thanks to you and this forum.
I can take care if myself. So far no call backs from Fintact, oh well.
I/We are all accountable for our actions. Do the research, document and then go after the scammers.
Oz,
When I am reading or posting on this site at least 75% of the time the page flips to my iPro Network login or to another issue on this site is someone hacking me.
Hey OZ,
Just got a call from Fintact rep who said my refund check was sent yesterday and because of my lies and posts here they where going to sick their lawyer on me. Well over and out.
@Laura
There are no redirects on BehindMLM. Anything like that is happening locally on your end.
Hey OZ and all,
Fintact Solutions Group, LLC. No longer exists.
Anybody know who the new shell banking company is?
Simple Question. Can I buy this coin at any legitimate exchanges like POLONOIX?
Nope.
Since you are a lawyer, why not file against your upline? Or their upline depending on your direct upline’s level of involvement.
They are responsible for recruiting you, are a participant in a scam, and profited off you.
Without recruiters, these scams don’t exist.
Two things I find odd. I could not find any of the names related to this business in Secretary of State business search in CA nor NV.
When I go on the procommerce.io site, the whole staff but one hooded faceless guy is Mexican and around the same age – no problem with Mexicans – but aren’t they subject to diversity in hiring laws?
Kind of look like homeboys that all hang out together more than a real professional staff.
Also, I think Texas has some weird laws that let you get away with things more than other states. And nearly impossible, a lot of hurdles, to move a small claim from TX to CA.
May look like a duck, but… it sure doesn’t walk like a duck.
Today I’ve seen two red flags then found this site. OMG how stupid am I?
Help please!!!
I am trying to get my money back from ipronetwork too. Laura will you and the others share the information you have that will be helpful in getting my money back.
I sent an email to support and no response yet.
it’s not a scam calm down, they are doing some pretty great things. apple just approved their app and same with google play and also Android.
i wouldn’t sweat over these people who have no clue what’s going on and never have owned a legit business in their life.
They put in over 12,000+ active people in the first 30 days and are 26 days from fully launching the coin will be on the public exchange as of APRIL 24th.
^^ What does any of that have to do with an unregistered securities offering and pyramid commissions?
Legitimacy by association? Mate you’ve already lost.
Which public exchange would that be champ?
Mate they are giving the coin away as a rebate and people are purchasing E-Commerce training and tools that are really valuable.
you think this another coin on the market however you are wrong this is not another coin this is a e-commerce platform and market place over the next 25 days a lot will launch.
i have spoken directly and met in person the US attorney who Verifies everything the company does and has been in business as a lawyer for over 20 Years working with top network marketing companies.
there is no securities being offered people are purchasing the tools or a product from one of the Vendors IPN offers and in return for that purchase they will receive pro coin as a cash back reward.
SO with that being said THEY ARE NOT selling the coins they are selling PRODUCTS in the IPN platform.
(Ozedit: Offtopic derail attempts removed)
i will not tell you what exchange i will let everyone see it for themselves.
Right, and who’s going to foot the bill? The merchants?
When you generate coins for free via a script, you can give them away for free. Legitimate third-party merchants aren’t stupid though and aren’t going to want to inject “free” points into their business.
You can’t pay the bills with free altcoins. That destroys the e-commerce argument.
As for securities, if people invest money on the hope of passively acquiring more than they invested that’s a security – regardless of what bullshit you bundle with it (pseudo-compliance).
Are iPro Network registered with the SEC? Nah, so they’re offering unregistered securities to US residents.
Has the US attorney called up the SEC and asked what the penalties for offering unregistered securities in the US are? You’d probably want to start there.
Penny auction bids didn’t spare Zeek Rewards. VOIP packages didn’t spare TelexFree. “Ecommerce training” won’t spare iPro Network.
Thanks for confirming you know sweet fuck all and are just talking out of your ass.
why don’t you name him? is he working undercover for ipro? secret, secret??
The iPro Network lawyer is Scott Warren with Wellman & Warren group in California
NOLINK//w-wlaw.com/wellman-warren-attorneys/scott-warren-mlm-litigation-attorney/
Can’t see that relationship lasting, Scott Warren definitely knows what an unregistered securities offering is.
It doesn’t matter who is giving you legal advice if you don’t bother to follow it.
iProNet’s comp plan is problematic because it never pays commissions for the sale of anything to anyone outside of the compensation structure.
Ask Herbalife and Vemma about that.
As to Procoin, a public promise has been made that it will be trading on some exchange somewhere by the 24th of this month. We’ll see.
One fun fact from the Pro Commerce website: there will be an app which will let you freely trade ProCoin for bitcoin or actual fiat and they promise they’ll start working on that app sometime early next year. I think they’re using Dr. Ruja’s development team on that one.
attorneys wellman warrens website clearly emphasizes that retail is necessary to distinguish between a legitimate MLM and a pyramid scheme:
i think ipro is going to use pseudocompliance BS like dubli and lyoness – look how many ‘customers’ are buying real products from real merchants.
pyramid schemes often set up some unrelated third party retail which has nothing to do with the recruitment scam at the core. ipro network will give free procoins with both training packages and in place of cashback, and will use this fact to suggest that affiliates are buying training packages for their ‘value’ and not for investing in the coins.
basically they will muddy the waters with a lot of technical psuedocompliance BS which makes it difficult for regulators to pierce through.
(Ozedit: Offtopic derail attempts removed)
When a company is providing goods and services through network marketing, it is doing just that – providing goods and services.
A ‘ponzi’ scheme is that which offers nothing to the guys “at the end” of the chain. This does not appear to be such a ponzi scheme. So no matter how many times the trolls use that word in a derogatory fashion, you can not verify that it is any kind of a scam.
Also, if you’re looking for an SEC filing, you will be barking up the wrong tree. When a private enterprise is engaging with another private enterprise, there is NO requirement to file anything with the SEC. IT is simply NOT a stock or bond or any kind of investment offered publicly.
It is not futures, derivatives, and it is not anything that the SEC would be concerned with. The iProNetwork is a private enterprise. From what I understand, The Pro currency is a cryptocurrency which has been qualified independant of the ipronetwork.
When a company sucn as iProNetwork engages with Apple computer to qualify its Ap (successfully), it probably means business … and is probably NOT a scam.
Enjoy your bashing all you want. This cryptocurrency is going to climb in value due to the innovation of being immediately negotiable for a wide range of goods and services.
False. A Ponzi scheme is solely identified via the use of newly invested funds to pay off existing investors.
False. If a company offers securities to US resident they have to register with the SEC. Whether they are private or not is irrelevant (sovereign citizens bullshit that doesn’t hold up in court).
Not a securities offering? Riiiiiiiight….
Help! What do I do? I need an attorney.
They claim I never made my deposit despite me having proof of purchase with pictures of my deposit receipt/cashiers check. They did the exact same thing to my manager as well.
How can they coincidentally claim that the two of us which are in no relation to one another never made our deposit?
I think there’s many people that will come out saying this has happened to them. If I hire an attorney will it be worth it?
I am fuming that they are stealing our money and not giving any kind of consideration to the truth (my pictures of EVIDENCE).
I emailed BestBuy. They are not affiliated with this scam. They were quite adamant about it actually.
Dickie D
Where did you hear that from? From what I’ve been told, they won’t disclose that until they go live in 9 days.
obviously bestbuy will not accept procoins. i don’t think bestbuy even accepts bitcoins yet, so some scammy coin which is not even traded yet stands no chance at all.
ipro network must have signed up for the bestbuy affiliate program via linkshare, which anybody can do.
when an ipro network affiliate makes a purchase at bestbuy via the link provided by ipro network, they will get some free procoins.
these procoins are being given to them by ipro network and have nothing to do with bestbuy.
bestbuy.com/site/clp/affiliate-program-faqs/pcmcat198500050003.c?id=pcmcat198500050003
I have been involved in OneCoin as well as Ipronetwork. Only time will tell if it is a scam.
I personally have to take responsibility for my own actions and money. No one forced the money out of my account into theirs. That was my decision alone, and have no one to blame but me.
We are all looking for that pot of gold at the end of the rainbow. Maybe it doesn’t exist, but there are still those of us whom believe in the honesty and integrity of others…
I believe in my heart if we have been scammed those people will pay the price…
@Jacque
Time has nothing to do with it. A business model (comp plan) reveals if an MLM opportunity is a scam.
iPro Network and OneCoin’s Ponzi points model is a scam from day 1.
They just released some nifty little mobile app for their stupid fake business. Woo-Hoo!!
Taking lessons from Ruja mommy, I guess.
They are on the multiple exchanges now
coinmarketcap.com/currencies/procurrency/
Thanks for the update. Currently 8 cents a coin and appears to have been listed on April 27th.
The question now is whether affiliate membership for iPro Network is worth it, or if it’s cheaper to buy publicly at 8 cents a coin.
iPro Network compliance issues still outstanding:
-it’s a pyramid scheme (paid to recruit new investors)
-unregistered securities offering (investment opportunity, no SEC registration)
Hi.. I am reporting this guy his name is Elisha Jancik. he is a well known scammer affilated with OneCoin targeting deaf people (he is hearing but knows ASL (american sign language)) so he can communicate with deaf people.. he preys on them and scams them for all there $$.
deafboss.com/cryptocurrency is his website he switched from OneCoin to iPro.
How do we shut down this guy before its too late? he has been in numerous scams before (i2g, g1e, onecoin, etc).
@concerned citizen:
I have reported them to the FBI. This should end much sooner than OneCoin scam, because it is being run in the USA. Whereas OneCoin is run from Bulgaria.
is procurrency a scam? or legitimate? should I invest my money in it? can I be able to withdraw my money anytime I wanted?
Pro Currency is an altcoin. You can buy it on public exchanges and sell it as you see fit.
iPro Network is of concern, as they are offering securities and are not registered with the SEC. Yet despite this, Alexa estimate the US is currently the top source of traffic to the iPro Network website (73%).
This probably isn’t going to end well…
What can you tell me about attorney Scott Warren? If he is legit, why would he back a scam?
Without any evidence Scott Warren has “backed” iPro Network, that’s a loaded question.
iPro Network is run by the same USA individuals who promoted OneCoin (biggest Crypto Ponzi scheme, ever). They say the coin is going up in value every day, but it is unmineable. (Check coinmarketcap for the asterisk*). Meaning the value is only rising as they recruit new gullible patsies into the scheme.
I know a person who is promoting this scam after OneCoin went belly-up here in the USA.
The lawyer Scott Warren was probably only paid to speak at their California meeting, this year, about running an MLM business. Giving advice on what to say and what not to say, legally speaking.
I doubt that he has signed on as “backing the scam”. But, the promoters always stretch the truth on all things when trying to recruit people.
ipronetwork is not Pro Coin that name is a different Coin. ipronetwork Coin is ProCurrency ProCurrency (PROC).
Armando Contreras is not part of ipronetwork. Get your facts updated.
It was the name iPro Network themselves were using before they got Pro Currency listed.
So why was he listed as CEO of iPro Network on the iPro Network website?
I heard one of their top people is named Thomas Dubois. He also promoted a lot of the onecoin scam before it was shut down in the US.
I believe he is out of colorado
Why do you use the word Scam?
OneCoin left the US because they are going to be listed on the Asian Stock Market and had to clean up Gray parts of the marketing!
OneCoin left USA because the “we only se education” bullshit wouldn’t have worked with SEC.
Tom McMurrain admitted this once: https://www.youtube.com/watch?v=WvajEG3YnsA
Besides, OneCoin is gonna try to use some clean shell company to try to get listed, so USA wouldn’t matter anyway.
JR. are you kidding ? Onecoin stopped in the US because conducting any fraud in dollars anywhere in the World makes you subject to US law. And Ponzi fraudsters get automatic jail in the US. And not for 6 months either. That’s why Onecoin is always quoted in Euros. If you don’t believe me ask will known Onecoin promoter Tom McMurrain whether you get jail for Ponzi fraud. Lol!
And everybody uses the word scam re Onecoin because aside from all the red flags it is mathematically impossible
And finally there isn’t an exchange on the planet that will accept Onecoin. There are a number of Asian exchanges not one. But It will never list because it doesn’t meet the credibility tests for any exchange.
Do you believe in your heart that you should pay the price for recruiting people into the scam that is ONECOIN?
Ignorance of the facts is not a defense.
That makes no sense. Getting listed (which haven’t happened) has nothing to do with where to market stuff. Have you EVER heard of a company supposedly getting listed in Asia to stop marketing in the US MONTHS beforehand?
The fact you bought into that nonsense spoke volumes about your frame of mind.
Armando Contreras aka Luis Contreras. Owns a peso exchange and travel agency in La Habra, CA.
What’s procoin trading at now? I had a guy come into my office trying to sell it. Super greasy.
I’m not too cryptosavvy but the whole craze is making me nervous.
Peaked earlier this month, now back down to around 20 cents.
Once iPro Network affiliate recruitment dies off it’ll dump to $0.
My friend approached me about getting in and I told him I researched and found it to be a scam. He believes them and is going to upgrade.
These are christian people who trust what iPro is telling them. Please give me something that will PROVE this is a scam so they can get out. Thank-you so much.
Ask for proof a source of revenue other than affiliate investment to pay commissions with.
sorry I don’t understand the answer and I am not in direct contact with iPro.
iPro isn’t pitching you, your friend is. Ask them for evidence of revenue used to pay commissions other than invested affiliate funds.
If they can’t provide it you have your proof.
DeAnna, it is easy to see how iPro is illegal if you don’t let yourself get blinded by visions of easy money. In fact those visions of easy money are part of the problem.
iPro Net was created by a group of primarily US based Onecoin promoters after they were told that Onecoin was going to stop pretending not to recruit affiliates inside the US but instead was going to actually stop accepting US based signups.
They are pitching iPro as a “legal” alternative to Onecoin but please remember these same people used to pretend that Onecoin was legal here too.
Ever hear a iPro sales pitch along the lines of “did you miss out on Bitcoin”? “$X worth of Bitcoin in 2009 dollars would be worth $XXXXX today”? “Do you want to get in on the ground floor of the next great cryptocurrency opportunity”?
Ask yourself, in plain language, are they suggesting you invest in their altcoin? iPro will insist that you are not “investing” in anything, you’re just (argle bargle) but the coins will increase in value.
They will insist you aren’t investing in their altcoin because because it is illegal for them to sell you investments. Yet their entire sales pitch is nothing other than a solicitation to investors and it’s always amusing to watch them have to lie about it.
Kevin Thompson, a prominent MLM attorney wrote a two part essay almost specifically on this topic:
thompsonburton.com/mlmattorney/2017/01/23/understanding-unregistered-securities-the-linchpin-in-the-secs-case-against-network-marketing/
Supposedly, ipronetwork is now being endorsed by sharktank and kevin?? Anyone hear of this?
I just purchased USD 500 worth of pro currency. If this isn’t legit, i want out.
Oh boy, I would get out and see if they give you your money back. or if they will cash your coins.
I’ll bet there is no coins. Their former coin scam was shut down. No SEC listing, Amazon never hear of pro coin, 90% of investors are out of the country, I believe Armand’s son Carlos runs Pro Commerce the company that is suppose to be supplying the coins.
Look on their website and look at their staff, one guy is in a black hoody with his face blacked out like a demon. Very unprofessional and Scary.
Scary all around. Let us know if they let you out.
8 cents? what is the current price?
This is the current price on coinmarketcap.com:
ProCurrency (PROC) $0.190754 (13.69%)
I have a friend that invested $3000 in onecoin a year ago, he is sick right now and needs his money, he can’t find anyone who can help him to get the money or how to do it from onecoin.
just for clarification, the people who invested in onecoin back when onecoin was doing recruitment those funds are lost forever??
I had read all this article but I need a plain and simple. is this money ($3000) lost or there is a way to get it back. any suggestion ty.
@scammed – can you name some of his or her prominent up line? Ask him to build the tree upward and please respond back. I can also link you to a Onecoin Victim Support Group on WhatsApp via Jen McAdam’s Facebook page.
Part of the strategy of the group is asset recovery planning for victims of Onecoin. Ps. Was he then recruited into i-Pro, and if so did he pay Ann additional entry/ membership fee?
Oz I appreciate you trying to protect marketers from scams but why is it that you seem to criticise every business opportunity and preventing people from making money online from legit companies.
IPN has been endorsed by Scott Warren a most sought after MLM Lawyer as IPN has met all the compliance guidelines and has also being endorsed by well known entrepreneur Kevin Harrington from Shark Tank who is highly respected in the business world.
They also have sought after motivational speaker Jay Abraham who is in the same league as Anthony Robbins. These people will never be involved in any scams.
But your criteria of “legit” seem to be centered on celebrity endorsements, rather than fair compensation plan for the participants AND ethically concentrate on selling products the way MLM was meant to be.
Furthermore, you seem to be unaware that motivation speakers go where the money is. Care to guess how many of them had spoken for Vemma, which was shut down and ordered to reorganize by FTC?
Lawyers do not endorse MLM companies. Way too much liability. Just look at what happened to Gerald Nehra who endorsed no less than TWO: TelexFree and ZeekRewards, both busted as huge ponzi schemes.
I have no comment about Kevin Harrington, but I put NO STOCK in celebrity endorsements. Bob Eubanks, the famous TV host, was once ensnared in a scam. He was hired for a couple hours for some easy work. Turns out the footage was recut into a pitch tape to solicit investment from people for this fictional TV show, which obviously did not happen. The investors lost over 3 million bucks.
community.seattletimes.nwsource.com/archive/?date=19960310&slug=2318071
As for Jay Abraham, I’ll raise you Bob Proctor and Eric Thomas, both of whom pitched heavily for Vemma. Heck, Proctor had his wife and daughter in high positions in Vemma too. Talk about a good payday (until FTC intervened).
So again, stop relying on celebrity endorsements for your decisions, as if they are smarter than you. They aren’t.
The only proof of this is a 1:19 video where Kevin Harrington said he will be the keynote speaker at an upcoming iPro event. It said nothing about an endorsement.
You guys are just way too quick in inventing relationships out of nothing. What this really proved is iPro paid for a celebrity appearance, NOTHING MORE.
@ Bill Antonio
Do you think it’s ok that a lot of the Top Leaders in the USA who sold the OneCoin investment to their friends, family members and social media contacts are NOW pitching those same people on IPN?
Short list of OneCoin turned IPN pumpers: Kevin Foster, Sarah McGee, Jason Richard Mangan and Joseph W Piper
I wonder how their investors feel after hearing Ruja was charged with running a ponzi scheme by India?https://behindmlm.com/companies/onecoin/ruja-ignatova-charged-with-ponzi-fraud-by-indian-authorities/
Do you think they are obligated to tell their investors about this news? They keep telling their investors their OneCoin investment is safe due to the IPO in 2018. That’s a lie!
At some point, these investors are going to realize the obvious – they have been sold a too-good-to-be-true ponzi scheme by people who decided to profit from it.
As I get older, I pay less attention to what people say and more on what they actually do. And by their actions, they shall be known.
@Bill
That’s more a reflection of the type of business opportunity you’re attracted to.
A BehindMLM review doesn’t change an MLM company’s compensation plan. It just calls it out for what it is.
Does it matter? Legitimacy by association doesn’t work.
I can’t help people from OneCoin joining other business opportunities as we live in a democratic country and we are free to go anywhere we want to.
Kevin Harrington is not a celebrity as he is also a entrepreneur just like Trump was for celebrity apprentice. If you care to search on YouTube and you will see Kevin Harrington endorsing IPN.
Let’s give this business a chance guys as it’s early stage. Are we here to criticise every single opportunity that comes in.
(Ozedit: Offtopic derail attempt removed)
@ Bill Antonio
So, your reply to my post about OneCoin scammers also joining IPN is that we live in a democratic country?
I am all for freedom of choice. I just got this little hangup with lying, scheming con artists who play on the ignorance and greed of others for their own financial benefit.
Think of it as being warned by a total stranger that the bridge ahead is down. Do you heed their advice and stop or do you go full speed up the road to find out for yourself?
Exactly, we all have the freedom of choice. And some live to tell about the experience while others have to learn every lesson the hard way. That is your choice.
Most of the members of this board have been a bit further down the road than some of the visitors, that’s all. Of course, having (and using) a little common sense about making 1000% returns on your investment doesn’t hurt either.
Bottom-line: The majority of the people who made money in OneCoin were those who sold the non-registered securities to their friends, family and social media contacts.
The same thing will happen with IPN.
For scammers in the ponzi world, the music continues to play…..they just change partners.
By the way, in the end the final song is always “Wipe Out”. And with IPN, I can hear the sound of those drums already. 🙂
MLM Broken Model are we hear to talk about OneCoin members or are we to talk about IPN?
This is way off the subject as the owner is not from OneCoin and if any of ex OneCoin members decide to join IPN then we can’t stop that.
Now let’s stick with the subject which it is about IPN.
No he didn’t. The video is only 1:19 long. Listen to it completely. Don’t go by bogus titles written by over-eager IPN affiliates. There is no endorsement.
Kasey can you please explain this please: youtu.be/SpfrRUOtCwI
(Ozedit: Offtopic derail attempt removed)
He’s the keynote speaker at the IPro event. He was paid to be there. It says NOTHING about the endorsement. The word did NOT appear in the video.
Wait, I’m repeating myself. I must be crazy expecting different results from BA.
Just to point out something obvious: failure to disclose paid appearance may be violation of FTC guidelines on online endorsements.
ftc.gov/tips-advice/business-center/guidance/ftcs-endorsement-guides-what-people-are-asking#expert
Bill Antonio, “Now let’s stick with the subject which it is about IPN.”
Oh, you want to discuss the iPRO Network. Gotchya.
In my opinion, based on what I see, IPN is an illegal ponzi scheme. The investors will lose all of their money. The pushers of this scheme risk a knock on the door from regulators.
Hope this helps….
MLM Broken Model will see mate. I wish you luck in your endevours mate. I have a good feeling Ipro network will be massive.
I can’t go and believe that everything online is a scam. I’m working with good people in my team and have full confidence on my upline and people that are operating the company. Good luck guys and i wish you all the best.
Sounds like Bill Antonio thinks the “name” of the bridge, of which he is about to drive off, actually matters. Silly man.
And he’s driving a bus full of people!! Shameful.
Char – good point.
IPN has a bad reputation because of it’s close desling with Onecoin / Onelife in USA. Onecoin USA leaders struck a deal with IPN and used the Onecoin membership database.
Is this not a breach of privacy laws for the USA Onecoin members who did not expect their private details to be handed over to another program?
icliks.wordpress.com/2017/03/11/is-ipronetwork-a-scam/
Discussed here. This is disgusting. Either of these programs are not to be trusted.
So say Half my family is heavily invested in the alt coin PROC (procoin)…. its supposed to be public???
They say it can be traded for bit coin on cryptopia dot calm. Is that a real trading site?
I looked on other larger sites and cannot find it? I like 3/4 of the rest of us DONT REALLY KNOW ANYTHING about cypto other than what THEY told us?
Trying to learn is difficult as its a very complex new type of trading? I know the mlm side is super scammy… but what about the current trade-ablity of the coin?
AS in to get free of it before major money is lost?
also is the coin listed on any other exchanges? It seems due to security you have to literally sign up to each one to find out? or am I wrong?
PROC is listed on the Cryptopia exchange (NZ domain), with a 0.5/5 star rating.
Says it’s 100% premined, which is basically the owners of iPro Network dumping coins onto affiliates. PROC has no practical use outside of the MLM opportunity, so the only traders are affiliates (existing affiliates offloading PROC onto unsuspecting victims).
If you’re in the US you should ask for iPro Network’s SEC registration. The SEC confirmed a few days ago that any cryptocurrency MLM in the US is a securities offering.
Basically you’ve been scammed with a pumped coin, and now the only way to recover your losses is to scam someone else.
Don’t think it is. Cryptopia has a lot of junk altcoins on it, so seems they’re one of the “we’ll list anything” type exchanges.
You can usually get a list of traded cryptocurrencies on an exchange if you click around their website.
OZ or anyone.
how do you classify these things.
do you know of any way to legitimize or authinticate the legitamacy of the coin? For trading purposes? I just want to help my family to get out while there is still time. do you actually have to do a trade?
Trading is just selling and buying the coin.
If you can’t do anything outside of trading a cryptocurrency obtained via an MLM opportunity, the cryptocurrency itself is ultimately worthless.
I am wondering about iPro Network. Talked to a guy who said the coin is on the public exchanges, like C-CEX, and gave me a whole list where the coin is tradeable:
cryptopia.com
c-cex.com
yobit.net
novaexchange.com
dabtc.com
yobit.net
coingather.com
But, is that correct?
I see a PROC (Pro-Coin) on C-Cex indeed…But is this the same as the “coin” that iProNetwork is talking about?
Hi everyone i invested on the ipronetwork i should exchange my coins as soon as possible? and also i went to the event called ignite in CA.
Not really the place to ask for investment advice. What you do with your coins depends on whether you think you’ve been pump and dumped.
I came across some interesting information on i-Pro direct relation to Onecoin USA. Had this been covered?
(Apologies if redundant)
onecoin-eu.quora.com/Did-US-OneCoin-Recruitment-Go-Underground-iPro-Network-Proxy-Scam
Not as specific, but it’s pretty well known iPro Network = US OneCoin scammers.
So I have spent the last two weeks trying to pull my money out. I have been emailing back and forth with “Sam Daniels of Ipronetwork” and it has been a complete mess.
First I had to download an external application in order to get my coins. This was called the Procurrency wallet. After struggling with getting my coins into the iwallet application, I emailed someone.
Note: When you cash out your coins into this “wallet” ipro network says that they are not responsible for what happens to those coins after you withdraw it into the wallet.
So the moment you choose to click the button to start the process of collecting your money, they are no longer liable.
So after clicking the button and starting the process of withdrawing my money, I wait more than a week to see the coins still not in my wallet.
I email Sam back and let him know how long it has been, and he says “Oh I am sorry for the confusion, we reset everybody’s coins as a one time courtesy.”
So I wait another week of going through the same process, only to realize these coins are completely unredeemable as cash. They are used as ‘points’ on their partenered website, probaterewards.com.
Here is Sam’s response to me.
Here is my latest update when I told Sam I was unable to use the coins for purchase.
Which means they’re Ponzi points.
So, how many procoin does it take to buy one bitcoin?
Procoin can buy nothing, cash buys Bitcoin. Procoin has no value.
I was referring to this
Bitcoin, which is also digital coin, is available as currency, and it is possible to convert procoin to bitcoin, which then can be converted to US Dollar.
Seems like a lot missinformation here. I have been in ProCurrency now for awhile (it’s not ProCoin). I also have several other currencies on the marketplace.
ProCurrency is on some exchanges now. Went on the market in April.
What drew me to this company was the retail shopping apps and platform IproNetwork. I have already shopped online at Walmart and received coin back rewards, just like a frequent flyer miles besides other places.
The idea of IPro Network and ProCurrency is to teach people about cryptocurrency and how they can use it in every day life, hold and watch grow or come down, and buy & sell on the exchanges.
Kevin Harrington is on the Advisory Board now and THE John Maxwell is the keynote at the event in October.
Neither one of these astounding leaders and entrepreneurs would be involved in a scam.
You can buy and sell Proc on the exchange OR you can come in to IPro Network and become an affiliate, purchase the ecommerce training packages and receive coin back rewards is basically how it works.
You are not at all required to come in on the affiliate side. Just another way of making extra money with ProC. I have been paid, I do have my coins in my ProWallet to use on the exchange and it’s all legit.
And yes, once you put the rewards (tokens) in your wallet, it becomes actual currency and IPro Network isn’t responsible for what you do with it, and they warn you about it.
It’s like you take $100 out of the bank and it falls out of your pocket, the bank isn’t responsible, YOU are. As far as OneCoin, I have not been in that company when it was in the USA, but I do know several people who were.
They received every penny of their money back when OneCoin had to pull out of the USA becomes of compliancy issues.
So right now, I am excited about the future of Ipro Network and ProCurrency, more awesome stuff in the works.
If you bothered to read the review instead of rushing to comment, you’d have seen the April 29th update.
That’s got nothing to do with cryptocurrency though. Walmart obviously don’t accept Pro Currency. All iPro Network have done is hitch their backend to an existing cashback network.
They do the conversion on their end in fiat and you get a percentage in premined Pro Currency.
If you Google Harrington here on BehindMLM you’ll find he’s been selling his name to multiple questionable opportunities over the past few years.
John Maxwell fronted a OneCoin scam event earlier this year, so there goes that theory.
And regardless of who you namedrop, know that legitimacy by association only works on gullible prospects. It means nothing within the context of due-diligence.
No they didn’t. They continued on in OneCoin and stole money from those who joined after them.
Hitching an altcoin to a fiat currency cashback network isn’t going to generate legitimate demand for an altcoin. Other than a suspicious recent spike in activity, PROC is well into the MLM altcoin dump stage.
well, guess not all affiliates are as lucky as you. is ipro network failing already and unable to pay it’s affiliates?
just yesterday, duane king an ipro affiliate wrote to your new board member kevin harrington:
on cryptocurrency boards like bitcointalk, procoin is generally viewed as a shitcoin and not taken seriously.
the developers did not inform the community that they were going to sell procoin via the ipro MLM oppurtunity, until they were grilled about it several times from members. it is now widely viewed as another MLM cryptocurrency scam.
the developers also gave the impression to members at bitcointalk that they had tie ups with big brand merchants, without disclosing that they were just hitched up to cashback affiliate offers of big brands and that no big brand [or even small brands for that matter] accepts procoin.
these disclosures have only been made recently on bitcointalk:
ipro and procoin are just a twin operation of an MLM cryptoscam and a shitcoin pump and dump, and all the harringtons and maxwells of this world put together wont legitimize this crapcoin.
Harrington and Maxwell are just hired guns ready to lend their name for a price.
Besides, has there been ANY public announcement of Harrington joining the “advisory board”, which we don’t even know actually has any powers, or may be merely an honorary position?
kevin harrington has put out a video himself, announcing his alignment with ipro/procoin as their spokesperson who will ‘spread the word’ around the world .
without being specific, harrington is also parroting the lie ipro/procoin have been propagating, that they have tie ups with big brands and creating the false impression that these brands are accepting procoins.
at around the 1 minute mark in the video harrington says:
– procoin has no ‘exclusive connections’ with any big retailer, it only has an exclusive connection with the ipro network to sell its scamcoin through an MLM pyramid ponzi scheme.
– you cannot use ‘pro to shop’ as it is not accepted by any retailer.
either harrington has swallowed bull, or is purposely misdirecting investors because he’s been promised a large packet of money.
anyways, as ipro begins to crash, i suppose harrington will do the ‘omg! i was sooo lied to’ act and walk away with a big bank balance.
myipnhq.com/breakingnews/
That just means Harrington signed on as a spokesperson. Doesn’t mean he’s personally joined up / invested like a lot of affiliates are claiming.
Reading between the lines, he’s just reading from the script he’s been given, and he’s been vague enough he can’t be held responsible for anything.
Am a member of pro currency, what happens when an affiliate decided to take back his investment. Will he receive it in dollars.
What is the projected value of the coin come December, 2017?
What, from iPro Network?
Good luck with that. If it’s an isolated case you might get away with it. If enough affiliates start demanding refunds expect to be fed some bs about why you’re not entitled to one.
Depends how deep iPro Network affiliate recruitment has dropped. There’s no legitimate demand for PROC outside of iPro Network, so once affiliate recruitment tanks it’s over.
People at bitcointalk on the procurrency thread are still so convinced this is legit. All of my mounting evidence again this is apparently just my jealousy at a missed opportunity.
I’ve been watching Procurrency on coinmarketcap ever since my stupid work partner got cut off from OneCrap in USA and started pumping this scam to his next victims.
Today it’s down to about 2 cents and has been getting lower ever since the bitcoin slump. Whereas bitcoin has almost regained it’s former value, Procurrency has been steadily declining.
Any predictions on how much longer it can limp along? I bet it’s gone by Jan 2018.
I got a PM from the Procurrency CEO/CREATOR. He promised to answer all my questions because he noticed all my negativity towards the project.
Still no answer back though after 2 weeks. What a scam. I’ll post any response I get if I get one.
1. The company (IProNetwork) has a terrible customer support. There’s NO phone. If you email or go to Help and write a ticket, it takes about 1 to 2 months to get an answer. The withdrawal takes about 2 months or longer.
2. In addition, why would you buy the package from IProNetwork because the coins the get through them doesn’t get to release immediately?
It takes about 6 months before they start to release the coin at 5% per week which takes about 20 weeks after 6 months to get all your coins.
In conclusion, it takes about 1 year before you get all your coins. It’s better to go to the exchanges/market and buy the coins directly because you get your coin all at once immediately without being held by IProNetwork.
They focus on getting the money from people who join the MLM network more than promoting the coin. They are in the business of MLM.
Procoin is just the tool for them to collect money from people. They have no interest of promoting the coin. And now, with the MLM, in order to make money, you have to purchase the package plus paying $105/MONTH.
iProNetwork is the same as all MLM company. You will get stuck paying $105/MONTH and you pay for the coin about 50% higher than the market and your coins will be held and it takes nearly 1 year to get all your coins.
3. Regarding getting rebate from the retailers, it takes 90 days before you get any rebate which is very little.
You have to spend about $400 with the retailers to get about $3 worth of rebates and after you get it, you don’t have any way to cash out or use it whatsoever.
Their rebate site has no way for you to see how many coins you get. It only shows the USD value. And you don’t have any way to use to pay for your purchase or to move to your iwallet because there’s not iWallet address or any of those thing. Their Rebate platform is terrible.
4. Their iWallet is the worst of all. As of now, you have to download an exe file for your iWallet to generate that ID address on one computer.
If you go to another computer and you download again, it will have a different ID address. This means that you will lose all your coins from the other computer if you don’t have the same exe that generates the old ID address.
This means that if your computer crashes after you install and got the ID, move your coins there, you will lose everything.
ProCurrency developers don’t have a way for you to login in one location to see your coins from different devices. Every device is a different ID address.
I actually use cryptopia to hold my coins instead of ProCurrency Wallet because it’s a lot safer and I can login from any device.
If you want to buy ProCurrency, go to cryptopia, open the account and buy from there. It’s less expensive and freely trade your account.
I don’t recommend to go to IProNetwork because MLM is a bad news and eventually people will get hurt from the people who join first.
Will someone check into these photos and bios (procommerce.io)? I am really curious.
I’d like to understand the legitimacy of the PRO App formally ProRewards or may still be ProRewards. Also how the PROC (ProCoin) name has been changed on the Currency Exchange and why?
Thanks
Looks the same/similar to the initial launch?
PROC already launched. If they’re changing the name and touting a new ICO, it’s because they ran out of newly invested funds.
You can confirm iPro Network affiliate recruitment collapsed with the decline in PROC’s public value: coinmarketcap.com/currencies/procurrency/
alexa confirms ipro network is in sharp decline.
alexa.com/siteinfo/ipronetwork.com
ipro network gets most of it’s business [80%] from the US and is being pushed in the ‘church’ circuit.
this recent video [0ct 30, 2017] from a disgruntled affiliate records payment problems and scammy behavior by ipro network top affiliates in the US.
the narrator himself seems to be a serial ponzi scammer, but at least he’s confirming what we already know – that ipronetwork is a failing pyramid scam and proc is a pump&dump.
youtube.com/watch?v=5DNgelg1z2M
The dear leader never got back to me lol.
I too invested into ProCoin over a year ago, further, invited a couple of friends to do the same, I now feel as though I have lots of egg on my face.
I’ve attempted to contact those persons who originally sold me this dream (actually a nightmare) whose names are Richard Marks and Maurice Katz.
I wanted to learn how to get to my “e-wallet” and recoup some monies I supposedly earned and also ask about how to convert to other cryptocurrencies to get out of Pro Coin. Unfortunately, can’t get any reply either.
This is likely a huge “ponzi” scheme that I would never recommend to anyone to participate in.
The reason these guys are now going the church route is like so many before them, they take advantage of many as believers, and then hide under the cloak of being “good God fearing Christians” – Don’t fall for it AT ALL.
These guys are professional scammers in my opinion. One day they will go to prison and pay for they’re sins.
I know lot’s of people who invested in onecon scam and then are now getting screwed by the same person into ipro scam.
When will the regulators start shutting this crap down and putting them in jail? That is where they belong.
Here’s a full endorsement from their lawyer Scott Warren. I am shocked he is not more careful! The video is from November.
youtu.be/ebpq5-T7fTY
Never trust a paid legal opinion over regulatory law.
The SEC just shut down yet another unregistered ICO offering today (Munchee Inc.).
The wild west ICO launches are over, just need to crack down on existing launches and the bitcoin Ponzi fraud schemes.
The person who posted the youtube video has comments disabled. Gee, I wonder why? Ha! Probably, the first day was swamped with negative comments from people realizing they got scammed.
The lawyer is selling his soul to lie for money.
I thought Danny Pacheco is the owner of iPro Network? He’s made millions right now this past year- and he’s been transferring his money to real estate and diamonds.
Price has been hovering around a penny for a while now. I think recruitment is over for this scam.
The USA SEC is issuing harsh statements for all the scam altcoins out there, like this one.
Most interesting is honorable mention that they will be going after lawyers and brokers also. Better watch out Scott Warren!!
Good article from Fortune magazine. References the SEC chairman’s recent statements:
fortune.com/2017/12/12/cryptocurrency-blockchain-ico-sec/
Don’t have the stomach to invest in high risk investment. Then STAY AWAY and put your money in CD’S.
These type of investments don’t really require a whole lot of smarts. However they do require STOMACH to ride out corrections and crashes.
It takes real stomach to buy when they crash on the optimism that they will recover and soar.
The way cryptocurrencies are soaring you only have to hit on one like my son in law who made $40 million when he cashed out on bitcoin.
Even someone without “a whole lot of smarts” should be able to grasp PROC has no value outside of the attached MLM opportunity. Ie. PROC’s value is pegged to iPro Network affiliate recruitment.
Unlike bitcoin, PROC has no legitimate public supply and demand.
Current value of PROC is $0.016507 USD and it’s been in decline since a 43 cent peak in July.
The decline can be pretty much plotted against a decline in iPro Network affiliate recruitment. #RIP
PROC has been going up in thew last few days. I wonder what artificial hype is behind this….
I think they are taking their scam into international territories to get some gullible people to invest (throw away their money). Causing a worthless coin to increase in phoney value.
Ya I figure. It’s gone from .02 to .17 on no news. There is literally no chatter whatsoever on the internet.
I’d even have to say it’s pure market manipulation. They’ve done it before.
They’re prolly just trying to start a run on it because just about every other coin has had one. It’ll most likely sink like a rock shortly after.
LOL people on bitcointalk are all like “you’re gonna be sorry when this thing runs to $15.00”. I cant believe it.
No lack of fools out there.
This is popular with fools who got scammed in Onecon? They know how to pick losers. Must be an inferiority complex.
This coin is going up so fast now because it has caught on with one of the biggest MLM companies going right now.
There’s a guy on my facebook who is a multi-level-marketer(cough… cough..scam artist) for World Global Network. They are all pushing this coin.
He’s getting older woman and other people who have no idea to invest. He’s got over 200,000 of these coins right now from signing other people up under him for IproNetwork.
I wish governments would do something about these fucking shit businesses.
A company should not be allowed to give people commission for signing someone up under them unless the sign up is free and the commission come from the affiliate marketing side. So people would actually have to sell the product.
I know this thread is about IproNetwork, but World Global Network pisses me off. These guys are currently all over facebook with fb pages like freedomlifestylecoach or freedom this or freedom that.
Posting videos saying they started an online business from home and they want to help you do the same. It’s a pyramid scheme!
No one is trying to sell the shit HELO wristband product! They’re all just making money off of the pyramid.
Rant over!
What you’re describing is a pyramid scheme aka endless chain recruitment scheme which is illegal.
More importantly, IM(very)HO is that, from the consumers’ point of view, pyramid schemes are, by their very nature, GUARANTEED to fail, costing over 90% of participants to lose money.
To hear what Kevin Harrington has to say about ProCurrency, and his plans, listen to this audio on youtube: https://www.youtube.com/watch?v=HSp7dafy2so&feature=youtu.be
Kevin Harrington was behind such commercials like: Jack Lalane (Juicer), George Forman (Gril), Billy Mays (Oxy Clean), Tony Little (Fitness Guy) and much more.
If a commercial was put together talking about ProCurrency that is even half as successful as what I mentioned above, I can see ProCurrency even going into the top 30 coins on coinmarket cap.
This is all speculative: Say cryptocurrency market cap increases by 5x over the next 18 months or so…the #30th coin would be at a $4 Billion Market Cap. If there are 1 Billion Procurrency in circulation at that time and it was ranked #30…this would put proc value at $4.00 per coin.
My opinion, joining iPN is much better than most MLM deals selling some juice…where most people loose 100% of their money…probably over 90% of people do.
At least with iPN. They give you Free ProCurrency with your order that you can sell. This coin has huge potential to go up in a big way…but even if it did not, you can sell what you have and get your money back.
Please don’t post marketing spam bullshit here.
Sell to who? Nobody cares about PROC except iPro Network affiliates.
It’s down to 3 cents and dropping because the only time it goes up is when new affiliates are recruited and convinced to buy in.
Again, sell to who?
This is precisely why watching bullshit marketing videos on YouTube != due diligence.
Instead of getting sold on hype, look at what has actually happened.
A year ago PROC was 10.6 cents. After three recruitment spikes it did climb in value, but when recruitment died down it dropped.
Today PROC is worth 3 cents. And that’s with Kevin Harrington shilling iPro Network since day one. You’re just late to the party.
Sell it where most people sell coins…on exchange! In January I sold over 50,000 procurrency coins on cryptopia @ 0.11 per coin. I had originally purchased a package from iPN ($5,500) that came with about 139,000 coins.
The mining earnings on this coin is better than any other coin I have come across (i was mining on a 9 year old budget laptop..and it earned the same as my new one!). There are much worse coins out there than ProCurrency. Not sure why so many people love to bash this coin.
This coins does have its ups and downs on the market = profits to be made. I bought some more coins on the market @ just under 3 cents.
Ask BitConnect and DavorCoin victims how that’s working out for them.
If you look at CoinMarketCap, PROC pumped in January due to a short-lived increase in iPro Network affiliate recruitment.
What you did is offload your worthless PROC onto gullible new recruits. They’re now stuck with it.
Couldn’t care less about the coin, it’s what it’s attached to that’s the problem.
LMAO…I can assure you, that was not the case. Do you think iPN affiliates have a hive mind and woke up one morning and everyone got to work?
Even if 100 million people decided to join iPN tomorrow…how in the world would that drive up prices in the market if these people are buying training packages from iPN?
So getting coins below market value is a problem…well to each his own.
As of right now, this coin is trading at $0.031410. To buy 4,000 coins would cost $125.64.
Right now the $100 iPN training package comes with 4,000 coins for Free…the only catch is that you have to wait to receive coins and many people decide to hold coins long term anyway.
I can assure you it was. You can quite obviously correlate the BitCoinMarket PROC graph with a brief increase in traffic to the iPro Network website throughout Jan, 2018 (Alexa).
No idea. Somewhere in the world affiliate recruitment briefly took off though and you managed to sell your PROC at a profit to unsuspecting new victims.
Newly recruited affiliates buy into the marketing hype bullshit and buy the coins on public exchanges. Who do you think you sold your PROC to in January?
To sell PROC one needs a gullible sucker on the other end to buy.
Nothing in life is free. You’re paying $100 for pre-generated PROC, sold to you by the company’s owners.
Why would they spend so much more money to buy it on the exchange???
(Ozedit: Offtopi derail attempt removed)
Actually, before iPN and Pro currency existed…that training package sold between $90-$110. I started going through my training package on Feb. 28th and what it teaches is very good…
I may come back here later this year and post my results/earnings from following what I learned in the package…I guess in the mean time…you can continue to bash iPN.
No idea. You’d have to ask the new iPro Network affiliates you sold your PROC to in January.
And nobody bought it. iPro Network has been about offloading pre-generated PROC onto gullible suckers since day 1.
Whatever fluff they attach to that is irrelevant.
Anyway best of luck with the scamming. 3 cents to the moon.
If you must know…that jump in price in January was based around a single announcement. This caused people outside of iPN to have an interest in this coin. (Ozedit: marketing spam removed)
I am part of iPN private facebook groups…and we had no idea this was even happening.
Which resulted in a brief increase in iPro Network affiliate recruitment.
Again, you can clearly see this if you compare CoinMarketCap trading activity and a brief increase in traffic to the iPro Network website (Alexa).
Nobody outside of iPro Network is interested in PROC. It’s just another pointless altcoin in the great sea of shitcoins.
If iPro Network shut down tomorrow that’d be the end of it. Well, at least as much lower as PROC can go from 3 cents.
Thanks for this information, almost fell for it.
Can you verify if these sites are the same thing:
(links removed)
thanks in advance
@Rick
Anything to do with the PROC cryptocurrency is part of iPro Network.
That announcement in January was from a separate organization that has nothing to do with iProNetwork.
There has also been another recent announcement by Kevin Harrington… but I see that I am not able to post these announcements on here without it getting moderated out.
No idea what you’re talking about but it has nothing to do with what Rick posted.
which was meaningless marketing spam. Do not repost.
PROC is currently at 2.4 cents. Mooning to zero!
The bitcointalk forum is still full of “believers”. They announce an app update and they pretty much all shit themselves over it.
I have been following the weekly shitcoin increases
162514035.6
176683492.34
177310296.08
186429860.15
176277952.28
186730312.7
197483455.85
209628194.57
219773960.81
233130247.23
248233451.56
As you can see they increase pretty dramatically. (all that selling) and they are still absolutely useless.
They’re cancelling the coin back rewards I hear…
According to iPN’s latest email. April 30th was the last day to get coin back rewards in iPN.
In the last 12 or so days in April, iPN allowed some members to attain significant amounts of PROC at a lower than market rate… that’s why the coin was headed towards $0.005.
After iPN announced coin back rewards was coming to an end… the price of PROC stopped falling and has moved up to around $0.01.
So what is the purpose of iPronetwork now if they arent selling coins? Doesnt procommerce do everything else?
iPN will focus on Education and CryptoCurrency trading software.
@BM – Here, let me fix that for you:
“iPN will focus on Education (like Onecoin/ Dagcoin/ PWNcoin) and CryptoCurrency trading software (like TCC/ Bitconnect/ USI Tech).”
Gotcha.
@Timothy Curry
As far as I know, most/all of those companies you mentioned main line of business was/is selling cryptocurrency. iPN no longer distributes any cryptocurrency.
LOL Trading software…. so scamming people. THERE ARE NO VALID CRYPTO TRADING BOTS.
And selling “education” is a pretty old grift these days isnt it? Im guessing iPro will fold altogether.
Well they locked down bitcointalk. The mod is the only one who can post because if you look, they had “lost the crowd”. And then they booted me from the discord channel for asking about the total number of coins in circulation.
I think they are about to do a runner. They’re doing a live announcement tonight apparently but I dont have the link. Days are numbered.
The sheep are getting all excited about the ProCurrency DNERO app being released!! Gonna be the BEST thing ever!!!
I guess they were not scared off after their European friends from OneCoin have been sent to jail.
By the attitude of the discord channel, I think people are more cautiously optimistic about the DNERO app. If the app works like they say it will, maybe this coin can come back from the dead.
Beta testing of app will continue for at least another month.
Is this “dneroapp.com”?
I can tell you now “major retailers, restaurants, theaters and more” aren’t going to accept worthless PROC.
Either a third-party is going to have to baghold worthless PROC when the app is used or 99.9% of DNERO transactions will be in fiat.
About all you’ll be able to do is xfer PROC to other app users (you can do this without the app), or use fiat to make purchases (Google Pay, Samsung Pay, Apple Pay, Paypal et al. already has this basic functionality).
Yeah, it’s supposed to use ProCurrency crypto. But, I’m sure that it is all hype to get more gullible investors.
Ah crap, got my Ponzis mixed up. This one is PROC.
edit: fixed up earlier comment. Same applies.
Pro coin a complete scam save your hard earned money.
I was duped by JR for 12000 and now he’s out Don’t know how to get my coin or money.
This thing appears to be crawling out from under its rock.
twitter.com/ProCommerceInfo/status/1245034626734649344
Geez, Pacheco’s not the smartest cookie hey.
Exchange exit-scamming during active SEC litigation. That’ll end well.