MTC Education Review: $200 a month crypto education
MTC Education fails to provide ownership or corporate information on its website.
The company’s website domain (“mtceducation.io”), was privately registered on November 17th, 2021.
In an attempt to appear legitimate, MTC Education provides incorporation details for MTC Intellectual Limited and MTC Education PTY LTD.
These appear to be shell companies, incorporated in Hong Kong and Australia respectively.
For the purpose of MLM due-diligence, basic incorporation in any jurisdiction is meaningless.
The only executive I was able to pin to MTC Education was Chief Vision Officer Michael Sloggett.
Michael Sloggett, Was selected by the founders to take on the role as the Chief Visionary Officer of MTC Education.
Whoever owns MTC Education is referenced only as “the founders”. This is a red flag.
Another red flag is Sloggett’s past.
Prior to signing on with MTC Education, Sloggett co-founded MBA Trading Academy in 2017 (aka My Bitcoin Academy).
A paywalled article from the Townsville Bulletin states;
A Townsville crypto investor hit with serious criminal charges has been pushed out of his successful start-up after board members learned police had launched a federal money laundering case against him.
Headlines from the Townsville Bulletin suggest Sloggett is has been charged with “drug and money laundering offenses”.
I was able to glean a bit more through PressReader;
April 29th 2021: (Michael James Sloggett) is charged with a string of serious offences and is accused of cleaning more than $2m worth of dirty cash.
Detectives from Townsville’s Major Organised Crime squad … raided his … business address on April 13.
Officers seized $165,000 worth of cryptocurrency and eight vials of steroids.
The $2.5 million Sloggett is accused of laundering is alleged to be “the proceeds of crime”.
Sloggett appears to have gotten involved in MLM through WorldVentures, circa 2014.
WorldVentures was a pyramid scheme that buckled under bankruptcy in late 2020.
Over on FaceBook there’s an official private MTC Education group with 1100 members. John Grzybowski, Michael Sloggett and Philip Liang are admins of the group.
John Grzybowski cites himself as an MTC Education co-founder.
A crypto bro event poster on Grzybowski’s FaceBook profile reveals Craig Latham is MTC Education’s other co-founder.
John Grzybowski appears to be have been involved in social media crypto trading analysis since at least late 2020.
Other than being a crypto bro, Grzybowski doesn’t appear to have achieved anything notable professionally (at least nothing I could verify digitally).
As per a StockHead fluff piece from earlier this month, Craig Latham is a former teacher who ditched his special needs students over COVID-19 vaccination.
Latham left his job as a special needs teacher at a school in Melbourne’s western suburbs on October 15 to launch the business with his co-founder, John Grzybowski.
Latham said he wasn’t against vaccination, just mandates.
It’s not really a sticking point but Latham’s excuse doesn’t hold up.
As of October 2021, COVID-19 vaccinations had been freely and readily available in Melbourne for months. At that point anyone who wasn’t vaccinated was obviously against vaccination (for whatever reason).
To be clear: I’m not having a go at Latham for being anti vaccination. I’m calling him out for being disingenuous about it. It potentially speaks to his character as an MLM executive.
According to the StockHead piece, “Latham … learned trading from Sloggett and considers him a mentor.” Whether that means Latham came over from MBA Trading Academy or not is unclear.
Philip Liang is MTC Education’s Chief Sales Officer. He made a name for himself in MonaVie circa 2014.
After MonaVie was Isagenix, which seems to have died off sometime after 2016. There’s a 2016-2019 gap in Liang’s FaceBook profile, after which nothing MLM related appears.
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.
MTC Education’s Products
MTC Education markets a $200 a month “Student Package”.
If you have been looking to learn a new skill that can generate an income from home, looking to improve your physical and mental well-being, looking for a supportive and uplifting community to be a part of or looking for a new change in life?
Then being a Student at MTC is what you’re looking for.
MTC Education’s Student Package provides access to:
- The Trading Course – “designed to help a complete novice with no experience, become a successful trader or investor”
- The Learning Management System – “a library full of different educational programs and content to help you in the many different areas of your life”
- 505 Challenge – “completing this will help you rejuvenate your health, fitness, mental fortitude, good habits, a winner’s mentality, and resolve to achieve anything you set your mind to”
- My Community App – “our own social media platform”
- Weekly Market Analysis – “analysis and breakdown of the markets by our experienced trading coaches”
- Live Training – “weekly live training calls from our tutors and coaches”
MTC Education’s Compensation Plan
MTC Education fail to provide compensation specifics on their website.
What we do know is MTC Education’s compensation plan is made up of
- Fast Start Bonus – paid on new Student Package and Visionary memberships
- residual commissions – paid via a binary compensation structure
- Team Matching Bonus – residual commission match on downline affiliates
- Lifestyle Bonus – monthly rank-based bonuses
- Company Pool Bonus – 3% company-revenue pool for affiliates who’ve qualified at MTC Education’s top three ranks
- First 30-Day and 90-Day Bonus – a time-sensitive performance bonus
Beyond this no specifics are provided.
Joining MTC Education
MTC Education affiliate membership is available at two price-points:
- Representative – $100 and then $11.99 a month
- Visionary – $300 and then $211.99 a month
Representative is basic affiliate membership. Visionary combines affiliate membership with the Student Package retail subscription.
MTC Education Conclusion
MTC Education has a major disclosure problem. $200 a month is no joke. For that much I’d want to know upfront who is behind the “education” I’m paying for.
MTC Education fails to provide consumers with this information.
This approach might work in private “word-of-mouth” FaceBook crypto groups, but if you’re running a public-facing MLM company it’s just not good enough.
MTC Education’s disclosure issues flow through to compensation, which again isn’t disclosed in detail to consumers.
The “refer four and your own retail membership is free” incentive could be a retail driver, but it’s impossible to make that call without full compensation details.
The danger of MTC Education operating lies as a pyramid scheme if the majority of subscriptions active are Visionary affiliate memberships. That’d reduce MTC Education to “sign up for $300, pay $211.99 a month and get paid to recruit others who do the same”.
The result of disclosure failings is it’s impossible for consumers to make an informed decision about MTC Education.
Whether this is intentional or not is irrelevant. Typically I’d cite potential violations of the FTC Act here, but it seems MTC Education isn’t active in the US.
At time of publication Alexa ranks significant sources of traffic to MTC Education’s website as Australia (57%) and the UK (36%).
Both these jurisdictions have their own advertising standards; the ACCC and CMA respectively.
I know the ACCC is a bit of a joke in Australia. I’m not familiar with the CMA, which given how long I’ve been running BehindMLM for, could suggest they’re not fussed about MLM.
I’m also not sure what’s up with MTC Education’s Hong Kong shell company.
MTC Education appears to be run by Australian-based co-founders. There’s no reason to have a Hong Kong shell company unless shenanigans (dare I say it, money laundering?).
MTC Education’s ties to Hong Kong, superficial or otherwise, is yet another disclosure red flag.
Pending MTC Education addressing these disclosure issues (disclosing executives, who’s behind its services, ties to Hong Kong, compensation etc.), probably best to steer clear.
Advertising in the UK is regulated by the Advertising Standards Authority. The CMA regulates anti-competitive practices.
The ASA is famously toothless; if an ad breaks regulations, all they do is order the company not to run it again.
Hilariously, the ASA even has a webpage telling MLMs not to run misleading ads which is written in hunese: “How to #boss multi-level-marketing ads with these top tips”. Talk about regulatory capture.
There is no real regulation of MLM in the UK. Both the ASA and Trading Standards in theory have a remit, but there’s no equivalent to the federal action taken by the FTC.
It would be fairly pointless anyway. Most of the schemes promoted here are the usual suspects from Utah, outside our jurisdiction.
Any MLM flogging trading “education” is a pyramid scheme. Nobody is going to shell out $12 a month or more as they continue to lose their money by gambling on lines on a screen.
The only people maintaining their subscriptions will be affiliates.
Mic or MS was the business partner of Sam Kaz who was the founder of AusCoin which scammed so many Australian investors.
MS also had a mining deal that people invested in to and he scammed that as well.
All of MTC co-founders are wananbe cryptopenurs. Mic looks desperate shilling scammy NFT and IDO deals to his followers and cashing out when the followers join.
What a ridiculous article. Of course visionaries get a cut for signing up new members.
Its incentive and it helps both parties, If that’s the biggest issue in this article then you may as well close it.
Calling participants in a potential pyramid scheme “visionaries” doesn’t change the business model.
Plenty of other issues were outlined. Perhaps invest in basic literacy before throwing money on finance education from randoms hey?
Did your brain hit a speedbump and get lost somewhere?
Don’t think you need Crypto Education, you need pre-school to learn to ReAd GuD.
I was recently approached by a “business representative” for this pyramid scam here in Australia.
It costs $200 per month to be a member, and once you refer four members, your fees are waived. Every new member you sign up after that gives you a 50% cut of their fees.
This “rep” showed me videos and photos of the seminar she attended, complete with champagne showers, a full circus act, and nothing but luxury.
They claimed it was all from trading crypto.
She gave me an example of a member that is high up in the chain making $25k each month from the 100 members he signed up.
Do the math, and 100 members equals $20k, so he should be making $10k per month, not $25k.
They walked past a restaurant, and the “$25k member” said he felt like going to Greece, so he flew out that day.
The event was hosted in a way to prey on people’s financial vulnerabilities.
The MTC Education platform itself offers no formal qualifications or training, and masquerades as an exclusive members only social media platform.
She showed me some of the stuff they do on the platform, but all of it is available for free online.
A search for an Australian Business Number (ABN) or Australian Corporation Number (ACN) comes up with nothing, despite the claim they have an office located in Melbourne.
Their registered office address in Melbourne is Suite No 420, Level 23, Collins Square Tower Five, but I can’t find a suite 420, and all the phone numbers I’ve called haven’t been able to find suite 420.
A search of the Collins Square commercial directory shows no MTC Education being present in the building.
I’ve referred this pyramid scam to the relevant Australian authorities.
And what credibility do you have to go making these ridiculous claims? The fact you don’t know what an actual pyramid scheme is paints the biggest red flag to me.
You also failed to mention the student package at $200 per month, you only mentioned representative and visionary. Are you picking and choosing your facts?
You have HEADLINES of a pay walled local article from a small town making allegations, no actual convictions just speculation.
If it were as serious as you’re making out do you think there might be more than an individual article?
Please consider a career that doesn’t paint you as a disgruntled former network marketer trying to discredit a legitimate business model.
The actual biggest red flag is someone running around huffing and puffing about the definition of an MLM pyramid scheme.
An MLM with insignificant retail sales activity = pyramid scheme. MTC Education lends itself to operating as a pyramid scheme for reasons explained in the article.
Being illiterate is also a red flag.
The failure is on MTC Education’s part. There is no mention of a Student Package on MTC Education’s website.
In fact there’s no mention of any packages. Consumers are left unable to to make an informed decision about the company and its products.
This is another indicator of an MLM pyramid scheme.
If you have evidence to clear Michael Sloggett, I suggest you present it. Failing which, fraud is fraud and the facts are as they stand:
Michael Sloggett is facing criminal charges related to “serious offences”, including money laundering.
Best of luck with the scamming.
One of the leaders that appears in many of their social media posts, operating under the alias Leslie Chow, used to scam people for money by selling fake music festival tickets.
His real name is Michael Tran, many in Western Sydney would have fallen victim to his antics.
I know a friend of mine who joined this MTC company as a student. However he dropout from it because he couldn’t keep up with the monthly costs and has a family to take care of, I pray for him.
Here in the Cook Islands where I live, I came across a visionary officer advertising this product to the people here.
He tries to get people in with smooth words and unique sentences. However People here in the Islands can’t really afford this kind of monthly payment and it literally is eating their savings away. Such a shame.
The visionary officer that I came across who advertised this product gets payed by MTC. However this guy doesn’t even know how to trade. But he happily gets payed by these Australian people to bind up the islanders and start charging them monthly fees.
The more islanders he gets in the more money he makes. Such a disgrace. These islanders don’t know what they are really doing.
Since inflation is high here and living costs have increased, people here can’t keep up with such payments. Some did dropout and more to come.
Im a trader and I know how to trade and I tell you I have seen a lot. However this MTC Education has gone too far.
There is a lot of free information and software systems out there that MTC doesn’t even have. I truly feel sorry for people who get caught into this MTC trap!
The people need to wake up and find other sources so that they can discern for themselves between right and wrong.
Since they are advertising cryptocurrencies. Here in the islands cryptocurrencies isn’t allowed since the law doesn’t recognise such coins and also the banks are very dismissive on such things.
So people here can’t even buy these coins only if they have a bank in a different country, can acquire it.
Well, other then that, I just hope people think for themselves and come to their senses of what the truth is. I can’t force people to think, sometimes it’s best they find out in their own time.
I am very grateful that I didn’t fall into the wrong crowd or getting milked for my money.
Whoever reads this I hope you have lovely time…
(Ozedit: derails removed)
I don’t really understand how you think a trading school is a scam.
Let me explain (Ozedit: No thanks, see below)
The word “scam” doesn’t appear in the review.
Read it, read it again and get an adult to help if you still can’t comprehend.