My Gold Rev Review: 450% ROI gold themed Ponzi scheme
My Gold Rev operates in the gold MLM niche.
As per the company’s website, My Gold Rev is headed up by Connor Robert.
There is a big question mark over whether Connor Robert actually exists.
Only Telegram and Whatsapp contact details are provided for Robert.
Robert (right) has no digital footprint outside of My Gold Rev, and photos provided on My Gold Rev’s website appear to be actors.
If you need evidence of this, look no further than Connor Robert’s My Gold Rev office tour.
It seems My Gold Rev had “New York wiseguy” in mind when casting Robert.
My Gold Rev provides three corporate addresses on its website; one in the US, one in the UK and one in Hong Kong.
Given Connor Robert likely doesn’t exist, it’s highly probable that none of these addresses have anything to do with My Gold Rev.
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.
My Gold Rev’s Products
My Gold Rev has no retailable products or services, with affiliates only able to market My Gold Rev affiliate membership itself.
My Gold Rev’s Compensation Plan
My Gold Rev affiliates invest funds on the promise of advertised returns.
- Package 1 – invest $20 to $10,000 and receive a 260% ROI after 80 days
- Package 2 – invest $10,001 to $50,000 and receive a 365% ROI after 90 days
- Package 3 – invest $50,001 to $100,000 and receive a 450% ROI after 100 days
A 10% referral commission is paid on funds invested by personally recruited affiliates.
My Gold Rev also charges a 10% fee on any withdrawal requests.
Residual Commissions
My Gold Rev 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 My Gold Rev tallies up new investment volume on both sides of the binary team.
Affiliates are paid 10% of matched funds.
Once volume is paid out on it is flushed. Any leftover volume on the stronger binary team side carries over into the following day.
Joining My Gold Rev
My Gold Rev affiliate membership is free.
Full participation in the attached income opportunity however requires a minimum $20 investment.
Conclusion
My Gold Rev claims to generate external ROI revenue via gold related activities.
Our vision is long term which is backed up by Gold trading, mining and investing in various funds and activities.
Naturally there’s no evidence of this provided. Furthermore, My Gold Rev’s business model fails the Ponzi logic test.
If the anonymous admins behind My Gold Rev were capable of generating a consistent 450% ROI every 100 days, what do they need your money for?
Even a modest investment compounded at this rate will place them among the richest individuals on the planet in short time.
The reality of My Gold Rev is that it’s a Ponzi scheme.
Affiliates invest, My Gold Rev uses those funds to pay existing affiliates, and when recruitment slows down the scheme collapses.
The math behind Ponzi schemes guarantees that when My Gold Rev collapses, the majority of affiliates will lose money.
Right next to the door through which renowned gold magnate Connor Robert enters his corporate headquarters, it says “Virtual Offices”, “Month-to-Month Memberships” and more stuff like that.
A freeze-frame of the street window shown a bit later shows who it belongs to: a shared office space company called Venture X: venturex.com
Someone with too much time on their hands could look through their locations and see which one was used.
Note how they’ve made the MyGoldRev logo the same overall shape and color as the Venture X one, so that at a very cursory glance one might think it’s theirs on the walls.
That they use yellow was a stroke of luck for a fake company pretending to be in the gold business.
Idiots trying to scam even bigger idiots.
It’s the Downtown Orlando Venture X location.
Isn’t it amazing what one can find out from the other side of the Atlantic, without leaving one’s desk?
Hmm… their London address is a residential address in southwest London, couldn’t get anywhere with their US address. Google kept taking me to the side of a motorway.
I’m beginning to suspect this is all smoke and mirrors.
Connor Robert’s LinkedIn profile can be found here: linkedin.com/in/connor-robert-635b13198
I wish LinkedIn showed you the profile creation date.
Anyway, obvs that profile is fake. Why would someone from Tennessee be playing management in rented office space in downtown Orlando?
@David Allenby:
The Arkansas address is real (as a building), it’s the non-descript four storey office building of which you can enter the parking lot with Google Street View.
There are real businesses located there, there are even inside pictures of offices.
The choice of the UK address is odd, why would somebody trying to create the impression there’s a company somewhere pick what looks like an obviously residential address? But perhaps it’s not that obvious to somebody not very familiar with western European cities.
Those behind it definitely don’t have English as a first language. Not that scammers often aren’t borderline illiterate, but no native speaker would come up with something like this (from the ‘Why Gold?’ section of the website):
One possible hint at a location: the website for some reason has a clock on it which says “Server Time”.
That could just have something to do with where the website is hosted, or be completely fake of course, but it is set to UTC+8, which is the timezone of China, Hong Kong, Singapore, Malaysia, the Phillipines, and parts of Indonesia and Australia.
The US address is a deadend. Leads to an office building with DOZENS of offices inside, and place for rent.
Their “support team lead” April mallonee is a stolen portrait from actress Laura Stetman
NOLINKs://www.laurastetman.com/headshots?lightbox=image1cmr
Same with the Hong Kong address, points to Wing Lee Building a large commercial building that houses a hotel, among other things, but no suite number.
I am somewhat sure that “Connor Roberts” is this Fiverr actor that goes by bookreviewstew.
NOLINKs://www.fiverr.com/bookreviewstew/shoot-a-20-word-video-for-an-attorney-lawyer-or-law-firm
What do you guys think?
Deffo not the Fivver guy, diff voice.
@PassingBy: their UK address is the same as the correspondence address for the director listed in their UK company incorporation (the one on their website)
He is also called “Connor Robert” but is British, not American as the bio on their website says:
beta.companieshouse.gov.uk/company/12127385/officers
Lulz, another Companies House classic. They really don’t give a fuck.
The Companies House Connor Robert was born in September 1992.
The LinkeIn Mr. Robert (or as they affectionately call him on YouTube, Mr. Connor) gives this as his only employment prior to My Gold Rev: “Financial Accountant, California Creative Foods, Inc., Feb 1997 – Nov 1998”. So he started work as an accountant at age 4 and 5 months.
That “Gold loan”, whatever that is supposed to be, his mother had to take out to pay for his education, according to his LinkedIn bio and the one on their own website, must certainly have paid of.
I’m sure that the year of birth of 1972, given on the My Gold Rev website, must be a typo. One would check and double-check the accuracy of information one gives to Companies House, wouldn’t one?
(Although I think that birth date of 1992 might actually be a slip-up, and show the scammer’s real age.)
That Companies House registration also adds a new address to the mix. The registered office address for the company is “25 Cleveland Street, Fitzrovia, London, United Kingdom, W1T 4JD”.
First, nobody British would include “Fitzrovia” in that address, there is no need to add anything to a London postal address, and what’s more Fitzrovia isn’t even an administrative designation of any kind, it’s just a, fairly recent, colloquial designation for an area of the city.
Second, 25 Cleveland street houses University College London’s National Hospital for Neurology and Neurosurgery, an NHS hospital. However, that has the post code W1T 4AJ, not W1T 4JD.
4JD leads one to a different building, an office building housing numerous businesses at 30 Cleveland Street, which seems to be the only address with that code.
I was pondering this mystery when my eye fell on this bit on the hospital’s website:
So somebody made a mashup of those two elements, creating an undeliverable postal address.
This company certainly has a high entertainment value. Partially thanks to the selfless support of Companies House of course, which, not through incompetence or laziness but as an intended result of the Conservative Party’s campaign against “red tape”, doesn’t conduct the most elementary checks on the veracity of information given to it by registering companies.
I’m really enjoying the crowd sourcing work here 🙂
@ PassingBy
As keen as I am to give the Tories (and the City in general) a kicking for facilitating money crime, your statement there is incorrect.
In over 150 years, Companies House have never had a mandate or the power to check any info given them. Hopefully, in these days of AML and KYC, that may soon change
companieshouse.blog.gov.uk/2019/06/11/how-were-reforming-the-companies-house-register/
The point is that Companies House accepting absolutely everything without any checks, leading to the UK becoming a magnet for fraudsters and criminals of all kinds wanting incorporation, is a problem that has rapidly grown in recent years, with an ever-increasing number of online registrations from companies that have no discernible real presence in the UK.
It’s true that the Labour governments before that were just about as lackadaisical in their dealings with business as the Tories, but during most of their time in office online registrations didn’t yet exist, and such outright sham companies being set up wasn’t nearly as common.
Yet proposals to do something about the growing problem have been turned down by the Tory governments in place since 2010, on the basis of “red tape” pseudo-arguments.
Those are the same Tories who are running trials in parts of the country requiring voters to show proof of identity at polling stations – in a country that has no ID cards and no population registers to base such cards on, and where in-person voting fraud is for all practical purposes non-existent.
That, they can do very quickly, to solve a problem that doesn’t exist, except in the minds of the loony fringe of the Tories. But an extremely simple, obvious measure such as requiring directors of newly-created companies to provide some proof of identity, to prevent widespread, well-documented fraud with a worldwide impact, is impossible.
Whenever something that painfully obvious is suggested, they suddenly see all kinds of legal and practical obstacles.
Any change must first be kicked into the long grass of a “consultation period”, possibly then leading to some meaningless tinkering at the edges, while primarily continuing to minimize the scale of the problem (as the link you’ve provided shows).
On the contrary, in their minds the more “businesses” register, the better. During the past election campaign Boris Johnson actually boasted about how the UK since 2010 had seen more “new businesses created” than Germany and France put together.
This My Gold Rev scam of course being one of those businesses, along with a lot of others one can read about on this website.
Hardly surprising, since in Germany and France it’s impossible to set up a company from outside the country, with a made-up address, made-up owners and officers, and 0% of the claimed capitalization.
The support never answer! Either by Whatapp nor by email!
They Process the payments every 9/18/27 of the month, I ask my first withdrawal the 9th of august and I have never receive those money!
Well yes, that’s how a Ponzi scheme works. You invest and your money is stolen.
Sorry for your loss.