LikesXL Review: €50 a pop credit card Ponzi fraud
There is no information on the LikesXL website indicating who owns or runs the business.
The LikesXL website domain (“likesxl.com”) was registered on the 24th of August 2015, with “Kolar Peter” (Peter Kolar?) listed as the owner. An address in Mauren, Liechtenstein (a known tax-haven) is also provided.
LikesXL itself would appear to be based out of Austria, with the default language on the LikesXL site set to German, the LikesXL website hosted with an Austrian company and Austria the country featured in example material explaining how affiliates sign up.
Possibly due to language-barriers, I was unable to find any further information on Peter Kolar.
Of note is that LikesXL is being promoted with dubious marketing pitches that mention a “well-known credit card company”:
A couple of board members of a Major CC company (some of them I have met personally) have been in contact with Mike Deese (MyAdvertisingPays) and other advertising platform owners for over a year, and they have learned a LOT…
This Major CC that we all know has now pre-launched their own Advertising Platform / Revenue Share last Saturday, starting from The Netherlands.
I was there and was amazed by what they have created. As you know, I have years of experience in this area.
This Major Company has partnered up with giants like Mercedes, Volvo, Disney Worldwide, Universal Studios, Sony, Gucci, Prada, MacDonalds, Versace, Porsche, Audi, etc etc., to name just a few.
These companies are paying millions in advertising each year and they will pay many millions to this new platform for people to simply view their ads and their offers.
It has been thoroughly tested in Norway for over 3 months with 8000 people. Launch will be on 19th of October.
MyAdvertisingPays is an ad-credit Ponzi scheme launched in late 2013, with it fast approaching the typical two-year Ponzi lifespan.
It should go without saying that reputable credit card companies aren’t in the habit of launching Ponzi schemes, so take pitches like the above with a dumptruck full of salt.
As always, if an MLM company is not openly upfront about who is running or owns it, think long and hard about joining and/or handing over any money.
The LikesXL Product Line
LikeXL has no retailable products or services, with affiliates only able to market LikesXL affiliate membership itself.
The LikesXL Compensation Plan
The LikesXL compensation plan sees affiliates invest in €50 EUR “PR packs” and get paid to recruit others who do the same.
Advertised ROIs on each PR pack investment is between €0.35 and €1.20 EUR daily.
There is currently no limit on the size of the ROI offered on each pack, with ROIs continued to be paid out subject to continued new PR pack investment.
Note however that affiliates are capped on how many PR packs they can invest in, which is determined by how much they pay in LikesXL affiliate fees:
- Green (€29.90 annually) – 50 PR packs
- Silver (€29 a month) – 150 PR packs
- Gold (€39 a month) – 300 PR packs
- Diamond (€55 a month) – 900 PR packs
Residual commissions in LikesXL are paid via a unilevel compensation structure.
A unilevel compensation structure places an affiliate at the top of a unilevel team, with every personally recruited affiliate placed directly under them (level 1):
If any level 1 affiliates go on to recruit new affiliates of their own, they are placed on level 2 of the original affiliate’s unilevel team.
If any level 2 affiliates recruit new affiliates, they are placed on level 3 and so on and so forth down a theoretical infinite number of levels.
LikesXL cap payable unilevel levels at five, with how many levels an affiliate can earn on determined by how much they pay in “downline fees”:
- €60 EUR downline fee = earnings on up to three unilevel levels
- €120 EUR downline fee = earnings on up to four unilevel levels
- €180 EUR downline fee = earnings on all five available unilevel levels
Commissions are paid out as a percentage of funds invested in PR packs, with how much of a percentage paid out determined by how much a LikesXL affiliate paid in membership fees:
- Green (€29.90 annually) – 4% on levels 1 and 2, 3% on level 3, 2% on level 4 and 1% on level 5
- Silver (€29 every month) – 6% on level 1, 4% on level 2, 3% on level 3, 2% on level 4 and 1% on level 5
- Gold and Diamond (€39 and €55 every month respectively) – 8% on level 1, 4% on level 2, 3% on level 3, 2% on level 4 and 1% on level 5
Affiliate membership with LikesXL is available at four pricepoints:
- Green – €29.90 annually
- Silver – €29 monthly
- Gold – €39 monthly
- Diamond – €55 monthly
The primary difference between these membership options is income potential through the LikesXL compensation plan (residual commissions and max amount of PR packs that can be invested in).
Residual commissions require payment of an additional €60 to €180. Investment in PR packs (€50 EUR per pack) will also add to the cost of LikesXL affiliate membership.
Modeled on MyAdvertisingPays without the advertising, LikesXL offers up a stock-standard €50 EUR in, unlimited ROIs out Ponzi scheme.
The nature of the unlimited ROIs favors the owner(s) of the scheme and early investors, who by nature of the ROIs paid out will walk away with most of the funds invested.
Those who join after fund the withdrawals of LikesXL’s initial investors, with everyone losing out.
The payment of a “downline fee” and affiliate monthly fees dictating referral commission percentages also adds a “pay to play” layer to the scheme.
Basically the more a LikesXL affiliate pays in fees, the higher their income potential.
Income potential in an MLM opportunity should always be based on sales performance, rather than the amount of fees an affiliate pays.
The credit card company marketing pitch doing the rounds meanwhile is just smoke and mirrors, which is why you get the “we can’t disclose any company names” nonsense.
The bottom line is there is absolutely no reason for any company not to have its name associated with a legitimate business enterprise it is supposedly operating.
Further research reveals the credit card company is question to be “EuroCard”:
Eurocard is intimately involved with LXL and you can be sure they know the answer.
They assured quite emphatically that it can be used in the USA. It is a Mastercard owned company, is a MasterCard with special Credit Card like qualities.
That said, the company itself doesn’t appear to be tied to LevelXL, with Kolar instead purportedly linking the two through a third-party merchant he owns:
Company is owned by Peter Kolar, and he is very private about this. He is also the owner of Cardcompact, from which we order the Eurocard (product of MasterCard) for payouts.
How long is CardCompact’s account with EuroCard going to last before financial fraud filters are triggered? Your guess is as good as mine.
Dr Marcus Rossman is the brain behind the company and, it would seem the man who got it rolling with M/C – see below. He has been on the MasterCard board of directors or years.
Roland Stagnate is the LikesXL promotion man and has been with MasterCard for 20 years and 6 years board member. He is constantly on the road now to promote now.
MasterCard board is fully aware of the development of LikesXL, and when Herr Rossman raised the idea and explained the concept, the board instructed him to go forward and form the company.
That was the birth of LikesXL, right in the MasterCard board room.
It now has the full support of M/C which also guarantees its Corporate participants. The company also works in association with Europacard, also a MasterCard, which is owned by MasterCard.
The above is taken from another LikesXL marketing pitch doing the rounds. Preempting the inevitably denials once shit hits the fan and MasterCard start cancelling merchant processor accounts, I’m just going to leave it up there for the record.
As with all Ponzi schemes, once recruitment of new investors dies down so too will new funds entering LikesXL.
At that point the daily ROIs are strung along for a while (to give the owners time to clear out the company’s accounts), with affiliates realizing the scheme has collapsed only when they attempt to withdraw their displayed backoffice funds.
So pretty much you’re either waiting for MasterCard to shut this down or for the scheme to collapse organically, with the majority of investors losing funds either way.
Sounds great, where do I sign up?