MyAdStory Review: $1 and $50 a pop Ponzi investment
There is no information on the MyAdStory website indicating who owns or runs the business.
The MyAdStory website domain (“myadstory.com”) was registered on October 13th 2015, however the domain registration is set to private.
A closed Facebook group for MyAdStory lists ten admins; Becem Cherif, Matt Webster, Nords Swaby, Muhammad Tariq, Luis Castillo, Sahar Jalouni, Gaétane Charron, Laetitia Lechuga, Imen Tounsi and Mahmoud Cherif.
On March 26th Luis Castillo named Mahmoud Cherif as owner of MyAdStory (right).
Cherif is based out of Canada, which matches up with MyAdStory’s Twitter profile location.
I wasn’t able to establish whether or not he’s an investor, but a fair bit of MyAdvertisingPays marketing material appeared on Cherif’s Facebook profile in early 2015.
MLM opportunities Cherif has been involved in as an affiliate include OwnMatrix (MLM underbelly scheme feeder), GetEasy (multi-million dollar Ponzi scheme), Global Mobile Network (Cherif describes it as the “best investment I did in my life”) and Visalus (weight loss).
Cherif’s descent into the MLM underbelly appears to have begun around mid 2014. MyAdStory appears to be Cherif’s first MLM company as an admin.
Read on for a full review of the MyAdStory MLM business opportunity.
The MyAdStory Product Line
MyAdStory has no retailable products or services, with affiliates only able to market MyAdStory affiliate membership itself.
Once signed up, MyAdStory affiliates invest in “ad-packs” in order to participate in the attached income opportunity.
Bundled with each ad-pack investment are a series of advertising credits, which can be used to display advertising on the MyAdStory website.
The MyAdStory Compensation Plan
The MyAdStory compensation plan sees affiliates invest in ad-packs on the promise of advertised ROIs.
How much of a ROI is paid out is determined by how much a MyAdStory affiliate invests:
- Ad-Pack Plan 1 – invest $1 and receive a $2 ROI
- Ad-Pack Plan 2 – invest $50 and receive a $62.50 ROI
50% of all Plan 1 and 40% of all Plan 2 ROIs paid out must be reinvested back into the company. MyAdStory affiliates are also required to click other affiliate’s ads daily in order to qualify for ROI payouts.
Referral commissions are paid out on the recruitment of new investors, via a 3-level deep unilevel compensation structure:
- level 1 (personally recruited affiliates) – 8% commission on funds invested
- level 2 – 2% commission on funds invested
- level 3 – 1% commission on funds invested
Affiliate membership with MyAdStory is free, however affiliates must invest in at least one Ad-Pack in order to participate in the attached MLM opportunity.
Thus the minimum cost of MyAdStory affiliate membership is $1 (the purchase of one Ad-Pack Plan 1).
Testament to its Ponzi scheme business model of using newly invested funds to pay off existing investors, MyAdStory appears to have already launched and collapsed.
According to Mahmoud Cherif’s Twitter profile, MyAdStory initially launched on February 28th (right). Note the different investment levels offered.
For whatever reason, the company’s website now advises that MyAdStory is scheduled to launch on or around April 8th.
Regarding MyAdStory’s business model, it’s the same ad-credit Ponzi scheme we’ve seen time and time again.
Affiliates invest funds with attached ad credits, only to be paid ROIs when new investment and re-investment is made.
Money flow is a closed-loop, with affiliate investment the only source of revenue and no external funds entering the system.
MyAdStory appear to be well-aware they are a Ponzi scheme, with the following excuse offered up in the company’s FAQ:
We are not an investment / HYIP / MLM / Matrix / Cycler / Currency Exchange/ securities site.
Is MyAdStory.com.com legal?
YES it is legal. In order for any program to be legal, it is required to supply a service and/or product to you.
The concept of attaching a product or service to a Ponzi scheme to legalize it is greatly outdated. The reality is that every modern-day Ponzi scheme has some sort of product or services attached to affiliate investment.
Both were Ponzi schemes due to the flow of money within the scheme (newly invested funds to pay off existing investors), with MyAdStory using the same model.
As with all Ponzi schemes, once newly invested funds dry up so too will daily ROIs paid out to investors. This will present itself by way of withdrawal delays and/or payment processor problems (real or manufactured).
Mandatory re-investment will prolong a collapse for some time, but inevitably daily ROI liabilities will exhaust invested funds.
Mathematically most investors in Ponzi schemes lose money, with the ten admins of the MyAdStory Facebook group likely to make off with the majority of invested funds.