MyDHLife Review: 300% ROI AI trading bot securities fraud
MyDHLife (aka My Dominion Heir Life), operates in the cryptocurrency MLM niche.
Heading MyDHLife is founder and CEO, Steve Sughrim.
Back in 2010 Sughrim represented he was CEO of Bon Voyage 1000:
Bon Voyage 1000 was a travel-themed pyramid scheme modelled on TVI Express.
In 2015 Sughrim was promoting Paid2Save and Usana on Twitter, through the name “Davanan Sughrim”.
MyDHLife originally launched three years ago.
The original business model flopped, prompting a reboot last month.
MyDHLife fails to provide a corporate address on its website. On LinkedIn Steve Sughrim cites his location as Redmond, Washington.
This is also presumably from where MyDHLife is being operated from.
Read on for a full review of MyDHLife’s current MLM opportunity.
MyDHLife’s Products
MyDHLife as an MLM opportunity has no retailable products or services.
MyDHLife markets affiliate membership packages, bundled with which are various education products.
For reference, MyDHLife’s education products are:
- Dominionheir Travel – discount travel portal
- Discount Directory – discount hotel bookings, movie tickets and apparel
- Mindset Training – personal development course
- Crushing Limiting Beliefs – personal development course
- Crypto & Blockchain – cryptocurrency education
- Team Build ebook – “home based business” ebook written by Stan Harris, former OneCoin Ponzi promoter
- Financial Trading – financial education course
- Health & Wellness – weight loss course
- Legal Training – legal course
- Conquer Your Money – financial education
- EMF Shields – “stay safe from the harmful effects of EMF radiation”
- Productive Entrepreneur – “a great resource for tips on how to be more productive”
While these education products are available to purchase separately, this has nothing to do with MyDHLife’s MLM opportunity.
MyDHLife’s Compensation Plan
MyDHLife affiliates invest $100 to $2500 on the promise of a passive 300% ROI.
- Earl/Countess – $100 and then $5 a month
- Prince/Princess – $500 and then $10 a month
- King/Queen – $1000 and then $15 a month
- Kingdom – $2500 and then $20 a month
MyDHLife pays referral commissions on invested funds down three levels of recruitment (unilevel):
- level 1 (personally recruited affiliates) – 20%
- level 2 – 10%
- level 3 – 5%
Joining MyDHLife
MyDHLife affiliate membership costs between $100 to $2500.
- Earl/Countess – $100 and then $5 a month
- Prince/Princess – $500 and then $10 a month
- King/Queen – $1000 and then $15 a month
- Kingdom – $2500 and then $20 a month
The primary difference between MyDHLife’s affiliate membership tiers is bundled products and income potential.
MyDHLife Conclusion
MyDHLife’s original business model was a convoluted 1up/2up hybrid pyramid scheme.
That collapsed, so they’ve rebooted as a simplified unilevel pyramid scheme with a 300% ROI crypto Ponzi.
The ruse behind MyDHLife’s 300% passive ROI is an AI trading bot.
No evidence of MyDHLife’s purported AI trading bot exists. Furthermore, if MyDHLife’s AI trading bot was capable of generating 300% returns on a consistent basis, why they are soliciting investment from the public is unclear.
What is clear is that under the Howey Test, MyDHLife’s passive returns investment opportunity constitutes a securities offering.
At time of publication neither MyDHLife or Steve Sughrim are registered with the SEC. This means that at a minimum, MyDHLife is committing securities fraud.
The SEC warns that securities fraud goes hand-in-hand with operation of Ponzi schemes.
Since MyDHLife products are all digital in nature and can be accessed immediately upon purchase, there is a strict No-Refund/No-Charge Back Policy and when you make a purchase of such products, you waive your right to a 14-day cancellation period.
One particularly disturbing aspect of MyDHLife pitching itself as “a FAITH-BASED business…”
This alone isn’t a problem but given MyDHLife is committing securities fraud, opens victims up to religious affinity fraud.
In researching MyDHLife I was reminded of Phil Xu’s WCM777 Ponzi scheme, which had the same religious undertones.
The SEC filed charges against WCM777 in 2014. Seeing as it engaged in the same type of fraud, the same is likely to happen with MyDHLife.
As with all MLM Ponzi schemes, once affiliate recruitment dries up so too will new investment.
This will starve MyDHLife of ROI revenue, eventually prompting a collapse.
The math behind Ponzi schemes guarantees that when they collapse, the majority of participants lose money.
“Calling all Christians” is just one of the very nasty tricks in the scammers handbook.
Why do so many scammers use this method of recruitment these days?
1) It’s proven to be successful e.g. see NovaTechFX and the Rev Cynthia (Sinner) Petion.
2) It allows scammers to tap into a group of people that already have a recruitment base (Church goers know other church goers).
3) Scammers leverage the value of trust and tribe. “We believe in the same God”.
4) When the Ponzi collapses – the scammers can say “Pray, trust in God and all will be well.” In other words “Don’t report your losses to the authorities”.