Paymara Review: Boris CEO MLM crypto Ponzi scheme
Paymara provides no information on its website about who owns or runs the company.
Paymara’s website domain (“paymara.com”), was first registered in 2014.
The private registration was last updated on March 1st, 2022.
Through the Wayback Machine we can see Paymara’s website domain was for sale. The current owners took possession of it in late 2021.
On Paymara’s official YouTube channel, “Candace Ava Fiorina” is presented as its CEO.
Fiorina doesn’t exist outside of Paymara. It’s the usual Boris CEO affair; an actor, rented office, company flags etc.
Other actors used by Paymara include “Joseph McCareins“:
And “Colin Robertson“:
Boris CEO schemes are typically the work of Ukrainian/Russian scammers. Although we have seen a few south-east Asian clones pop up recently.
Nonetheless I was able to tie Paymara to Russian scammers through the company’s “team” page:
As far as I can tell this page isn’t linked off Paymara’s other website pages. That’s probably because it’s full of stolen photos.
One other interesting thing to note is Paymara’s web server is running off Indian time:
It appears Russians hired Indian devs to put Paymara’s website together.
In an attempt to appear legitimate, Paymara provides shell company incorporation details for the US and Canada.
Paymara Global LLC is incorporated in New Jersey. Paymara Global Inc. is incorporated in Canada.
For the purpose of MLM due-diligence, basic incorporation anywhere is meaningless.
Supplementing Paymara’s shell incorporations is a random corporate address in the UK. This appears to be an attempt to lend credibility to the actor playing Candace Ava Fiorina, as she speaks with a British accent.
Alexa currently ranks tops sources of traffic to Paymara’s website as Canada (39%), Vietnam (35%) and Pakistan (8%).
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.
Paymara has no retailable products or services.
Affiliates are only able to market Paymara affiliate membership itself.
Paymara’s Compensation Plan
Paymara affiliates invest cryptocurrency on the promise of advertised returns:
- Package 1 – invest $50 to $9999 and receive 1.5% a day
- Package 2 – invest $10,000 to $29,999 and receive 1.75% a day
- Package 3 – invest $30,000 to $49,999 and receive 2% a day
- Package 4 – invest $50,000 to $99,999 and receive 2.25% a day
- Package 5 – invest $100,000 to $200,000 and receive 2.5% a day
Daily returns appear to be paid for 200 days.
Note that Paymara charges a 10% fee on all withdrawals.
The MLM side of Paymara pays on recruitment of affiliate investors.
Paymara pays a referral commission on crypto invested by personally recruited affiliates.
Referral commission rates are determined by how much an affiliate themselves has invested:
- Package 1 tier affiliates receive an 8% referral commission rate
- Package 2 tier affiliates receive a 9% referral commission rate
- Package 3 tier affiliates receive a 10% referral commission rate
- Package 4 tier affiliates receive an 11% referral commission rate
- Package 5 tier affiliates receive a 12% referral commission rate
Paymara 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 Paymara tallies up new investment volume on both sides of the binary team.
Affiliates are paid a percentage of funds generated on their weaker side, again based on how much they themselves have invested:
- Package 1 tier affiliates earn an 8% residual commission rate, capped at $2000
- Package 2 tier affiliates earn a 9% residual commission rate, capped at $3000
- Package 3 tier affiliates earn a 10% residual commission rate, capped at $5000
- Package 4 tier affiliates earn an 11% residual commission rate, capped at $8000
- Package 5 tier affiliates earn a 12% residual commission rate, capped at $15,000
Coordinator Income appears to be a bonus referral commission rate.
Coordinator Income rates are determined via a separate set of rank-based qualification criteria:
- Coordinator – recruit two affiliates and receive a 2% Coordinator Income rate
- Team Coordinator – recruit ten Coordinators and receive a 5% Coordinator Income rate
- Country Coordinator – recruit one hundred Team Coordinators and receive a 10% Coordinator Income rate
- Community Coordinator – recruit one hundred Country Coordinators and receive a 15% Coordinator Income rate
Elite Club appears to be a bonus residual commission, paid through a unilevel team instead of a binary team.
A unilevel compensation structure places an affiliate at the top of a unilevel team, with every personally recruited affiliate placed directly under them (level 1):
If any level 1 affiliates recruit new affiliates, they are placed on level 2 of the original affiliate’s unilevel team.
If any level 2 affiliates recruit new affiliates, they are placed on level 3 and so on and so forth down a theoretical infinite number of levels.
Paymara caps the Elite Club at ten unilevel team levels.
The Elite Club is paid out as a percentage of funds invested across these ten levels as follows:
- Coordinators earn 1% on level 1 (personally recruited affiliates)
- Team Coordinators earn 2% on levels 1 and 2
- Country Coordinators earn 3% on levels 1 to 5
- Community Coordinators earn 5% on levels 1 to 10
See “Coordinator Income” above for rank qualification criteria.
Paymara affiliate membership is free. Full participation in the attached income opportunity requires a minimum $50 investment.
Note how much a Paymara affiliate invests determines their income potential.
Paymara solicits investment in bitcoin, ethereum and tron.
Paymara offers up a typical MLM crypto Ponzi ruse:
The investment portfolio is managed by a team of experienced financial specialists, professional traders, data analysts along with our automated trading systems backed up by Artificial Intelligence.
This exact text appears on a number of scam website, suggesting Paymara’s website is built on a template.
Paymara offers up no evidence it is engaged in trading or any other external revenue activity.
It should be obvious that there is no trading activity. All Paymara is doing is recycling newly invested funds to pay existing investors.
Using newly invested funds to pay returns makes Paymara a Ponzi scheme.
The MLM side of the business adds a pyramid layer. Tying income potential to how much is invested is “pay to play”, a common feature of pyramid schemes.
As with all MLM Ponzi schemes, once affiliate recruitment dries up so too will new investment.
This will starve Paymara of ROI revenue, eventually prompting a collapse.
The math behind Ponzi schemes guarantees that when they collapse, the majority of participants lose money.
Update 15th May 2022 – Paymara has collapsed. The scammers have rebooted the Ponzi scheme as Paymara Meta.