Mayo Trade Review: Boris CEO Dubai Ponzi scheme
Mayo Trade provides no credible information about who owns or runs the company.
Supposedly Mayo Trade is headed up by founder and CEO “Jess Hamilton”.
Naturally Hamilton doesn’t exist outside of Mayo Trade. There has been an attempt to create an artificial digital footprint for Hamilton, including a website set up at “jeffhamilton.me”.
That domain was privately registered on May 19th, 2022.
In their official presentation, Mayo Trade trots out a supporting cast of executives.
Like Hamilton, none of these people exist outside of Mayo Trade either.
“Caryn Shroeder” and “Eric Layhee” appear in a Mayo Trade marketing video uploaded to Instagram:
The video, which misspells Shroeder’s presented surname, reveals the actors speak Spanish.
I’m not an expert on geolocating Spanish speakers but I’m getting strong Central or South American vibes.
BehindMLM refers to actor executives as “Boris CEOs”. Boris CEO companies are typically the work of eastern European scammers.
SimilarWeb currently ranks top sources of traffic to Mayo Trade’s website as the UAE (84%) and Vietnam (12%).
While Dubai is the MLM crime capital of the world, it’s rare for MLM companies to be promoted locally to Dubai residents.
One explanation is Mayo Trade itself being run from Dubai, as evidenced by their official FaceBook page:
BehindMLM’s guidelines for Dubai are:
- If someone lives in Dubai and approaches you about an MLM opportunity, they’re trying to scam you.
- If an MLM company is based out of or represents it has ties to Dubai, it’s a scam.
In a somewhat laughable attempt to appear legitimate, Mayo Trade provides incorporation certificates for shell companies in no less than six jurisdictions.
For the purpose of MLM due-diligence, shell company incorporation anywhere is meaningless. This is due to the easy with which scammers can set up shell companies with bogus information.
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.
Mayo Trade’s Products
Mayo Trade has no retailable products or services.
Affiliates are only able to market Mayo Trade affiliate membership itself.
Mayo Trade’s Compensation Plan
Mayo Trade affiliates invest funds on the promise of an advertised daily ROI:
- invest $50 to $10,000 and receive 1.4% for 125 days (275%)
- invest $10,001 to $50,000 and receive 1.8% a day for 125 days (325%)
- invest $50,001 to $100,000 and receive 2.3% a day for 125 days (380.6%)
The MLM side of Mayo Trade pays commissions on funds invested by recruited affiliates.
Note that Mayo Trade charges a 10% fee on all withdrawal requests.
Mayo Trade affiliates earn a 10% commission on funds invested by personally recruited affiliates.
Mayo Trade pays residual commissions via a binary compensation structure.
A binary compensation structure places an 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 as required, with each new level housing twice as many positions as the previous level.
Positions in the binary team are filled via direct and indirect recruitment of affiliates. Note there is no limit to how deep a binary team can grow.
At the end of each day Mayo Trade tallies up new investment volume on both sides of the binary team.
Affiliates are paid 10% of funds invested on their weaker binary team side.
Once paid out on, investment volume is matched against the stronger binary team side and flushed.
Any leftover volume on the stronger binary team side carries over.
Joining Mayo Trade
Mayo Trade affiliate membership is free.
Full participation in the attached income opportunity requires a minimum $50 investment.
Mayo Trade solicits investment in USD through PerfectMoney, as well as various cryptocurrencies.
Mayo Trade Conclusion
Mayo Trade represents it generates external revenue via trading bots.
We make it possible by leveraging our robust AI trading bots and experienced financial experts who have created systems that provide complete risk mitigation and consistent returns.
This is the defacto ruse used by MLM Ponzi schemes. To that end, Mayo Trade provides no evidence it is engaged in trading. Or, more importantly, using external revenue of any kind to pay affiliate withdrawals.
Furthermore Mayo Trade’s business model fails the Ponzi logic test.
If whoever is running Mayo Trade already has a bot capable of legitimately generating 2.3% a day on a consistent basis, what do they need your money for?
As it stands the only verifiable source of revenue entering Mayo Trade is new investment.
Using new investment to pay daily returns makes Mayo Trade a Ponzi scheme. With nothing marketed or sold to retail customers, the MLM side of Mayo Trade operates as a pyramid scheme.
As with all MLM Ponzi schemes, once affiliate recruitment dries up so too will new investment.
This will starve Mayo Trade of ROI revenue, eventually prompting a collapse.
The math behind Ponzi guarantees that when they collapse, the majority of participants lose money.
Update 14th February 2023 – Mayo Trade has collapsed.
The Ponzi scheme has been rebooted as “MT 2.0”, with a new 90 day withdrawal freeze.
Update 19th April 2023 – Mayo Trade has deleted its social media profiles.
This article originally contained a link to the cited Instagram video featuring “Caryn Shroeder” and “Eric Layhee”.
Due to Mayo Trade deleting its Instagram account, I’ve disabeld the previously accessible link.