Prance Gold Review: 600% ROI crypto arbitrage Ponzi
Prance Gold operates in the cryptocurrency MLM niche.
The company claims it is headed up by founder and CEO Andre Gerald.
In Prance Gold’s marketing videos, Gerald is played by this individual:
If you pay attention to the actor’s eyes, you can clearly see him reading off a script.
Andre Gerald doesn’t exist outside of Prance Gold’s marketing material, making him a good Boris CEO candidate.
The actor playing Gerald has a US accent. The actor playing Jacob Coulsen, supposedly Prance Gold’s COO, has a British accent.
Given the hard-coded Chinese subtitles, it’s highly likely these two men are actors picked up in Asia somewhere.
It’s also worth noting Prance Gold’s marketing videos were uploaded in 360p. This suggests they were shot on a cell phone.
Not really what you’d expect for legitimate corporate videos.
Prance Gold operates two websites, “prancegoldholdings.com” and “prance.gold”.
The former domain was privately registered in May 2019. The latter was privately registered in February 2020.
It’s worth noting the Prance Gold Holdings domain registration was last updated in February 2020. The company’s websites went live in March 2020, suggesting the holdings domain was acquired in February 2020.
The Prance Gold website is targeted at Japanese visitors and defaults to Japanese. On the site an incorporation certificate for “Prance Gold Holdings Limited” in Seychelles is provided.
Given the high probability of this being a shell company, with respect to due-diligence this certificate is meaningless.
Given Prance Gold appears targeted at a Japanese audience, it’s not surprising that Japan represents 90% of traffic to Prance Gold Holdings’ website (Alexa).
Curiously, “prance.gold” doesn’t have enough traffic to be tracked via Alexa.
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.
Prance Gold’s Products
Prance Gold has no retailable products or services, with affiliates only able to market Prance Gold affiliate membership itself.
Prance Gold’s Compensation Plan
Prance Gold affiliates invest $1000 or more in USD, bitcoin or tether, on the promise of advertised returns:
- invest $1000 to $4999 and receive a 300% ROI
- invest $5000 to $9999 and receive a 400% ROI
- invest $10,000 to $29,999 and receive a 500% ROI
- invest $30,000 or more and receive a 600% ROI
Prance Gold pays up to 0.9% a day, through a convoluted “you must invest at certain times” system.
Affiliates are given three 8 hour time periods they must manually login and click some buttons to generate daily returns.
Note that this process can be automated for a 10% deposit fee.
Whereas USD is accepted for investment, Prance Gold only pays returns and commissions in thether.
- if an affiliate wants to wait three days for withdrawal Prance Gold charges a 5% fee
- if an affiliate wants to wait eight days for withdrawal Prance Gold charges a 3% fee
Prance Gold pays residual commissions via a unilevel compensation structure.
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.
Prance Gold caps payable unilevel team levels at twenty-five.
- recruit one affiliate and earn residual commissions across three unilevel team levels
- recruit two affiliates and earn residual commissions across five unilevel team levels
- recruit three affiliates and earn residual commissions across ten unilevel team levels
- recruit four affiliates and earn residual commissions across fifteen unilevel team levels
- recruit five affiliates and earn residual commissions across twenty unilevel team levels
- recruit six affiliates and earn residual commissions across twenty-five unilevel team levels
Note that in order to count towards the above qualification criteria, recruited affiliates must have invested.
Residual commission rates across twenty-five unilevel team levels are based on how much a Prance Gold affiliate has invested:
- invest $1000 to $2999 and receive 8% on level 1 (personally recruited affiliates), 6% on level 2, 4% on level 3, 2% on levels 4 to 6, 1% on levels 7 to 10, 0.6% on levels 11 to 19 and 0.4% on levels 20 to 25
- invest $3000 to $4999 and receive 12% on level 1, 9% on level 2, 6% on level 3, 3% on levels 4 to 6, 1.5% on levels 7 to 10, 0.9% on levels 11 to 19 and 0.6% on levels 20 to 25
- invest $5000 to $9999 and receive 16% on level 1, 12% on level 2, 8% on level 3, 4% on levels 4 to 6, 2% on levels 7 to 10, 1.2% on levels 11 to 19 and 0.8% on levels 20 to 25
- invest $10,000 to $29,999 and receive 20% on level 1, 15% on level 2, 10% on level 3, 5% on levels 4 to 6, 2.5% on levels 7 to 10, 1.5% on levels 11 to 19 and 1% on levels 20 to 25
- invest $30,000 or more and receive 24% on level 1, 18% on level 2, 12% on level 3, 6% on levels 4 to 6, 3% on levels 7 to 10, 1.8% on levels 11 to 19 and 1.2% on levels 20 to 25
Monthly New Market Development Bonus Scheme
The Monthly New Market Development Bonus Scheme (MNMDBS) rewards Prance Gold affiliates for generating downline investment.
- generate $10,000 in new investment volume across three unilevel team legs ($30,000 total) and receive $1200
- generate $30,000 in new investment volume across three unilevel team legs ($90,000 total) and receive $3600
- generate $100,000 in new investment volume across three unilevel team legs ($300,000 total) and receive $12,000
- generate $300,000 in new investment volume across three unilevel team legs ($900,000 total) and receive $45,000
- generate $500,000 in new investment volume across three unilevel team legs ($1,500,000 total) and receive $75,000
- generate $1,000,000 in new investment volume across three unilevel team legs ($3,000,000 total) and receive $150,000
Note that NNMDBS qualification criteria resets every month.
There are five affiliate ranks within Prance Gold’s compensation plan.
Prance Gold rewards affiliates for qualifying at each rank as follows:
- Baron (generate three unilevel team legs with $30,000 investment volume in each leg) – 2% ROI bonus
- Viscount (have three Barons in your downline) – 4% ROI bonus
- Earl (have three Viscounts in your downline) – 6% ROI bonus
- Marquis (have four Earls in your downline) – 8% ROI bonus
- Duke (have four Marquis’ in your downline) – 10% ROI bonus
Although not clarified, I believe these ROI bonuses are tacked onto the end of regular contracts.
Joining Prance Gold
Prance Gold affiliate membership is free.
Participation in the attached income opportunity however is tied to a minimum $1000 investment in USD, bitcoin or tether.
Given the awkward company name and official marketing channels using Japanese, it’s obvious whoever is actually running Prance Gold is fluent in Japanese.
Whether this means Prance Gold is being operated from Japan is unclear. What is clear is that most of Prance Gold’s investment volume is currently coming out of Japan.
Prance Gold represents it generates ROI revenue via cryptocurrency arbitrage.
No evidence of trading revenue being actually used to pay affiliates is provided.
Being a passive investment scheme, Prance Gold’s MLM opportunity constitutes a securities offering.
Prance Gold provides no evidence it has registered with Japan’s Securities and Exchange Surveillance Commission, or a financial regulator in any other country.
This means, despite anything else, Prance Gold is operating illegally the world over.
The reason Prance Gold doesn’t register with financial regulators and provide legally required audited accounting reports, is because the company operates as a Ponzi scheme.
New investment is used to pay existing investors, with the scheme collapsing once withdrawals exceed the rate of new investment.
The math behind Ponzi schemes guarantees that when they collapse, the majority of investors lose money.
Update 16th October 2020 – Prance Gold Holdings has collapsed.
The company has ceased paying withdrawal requests, claiming its accounts held at various cryptocurrency exchanges have been frozen.
These guys were too cheap for a rented office video tour 🙁
Either that or COVID-19 means no more Boris CEO office tours for a while.
THANK YOU for this post! it’s now entering russia! youtube.com/watch?v=CYuXn5oqfRA&t=83s
Look at this video, the owners claiming is Singapore! Jeffrey and Edison!
Jeffrey claim to invest $10millions in this company. same old lies.
Singapore is quite the MLM crypto Ponzi factory these days.
About time regulators there got this under control.
(also lol at the Russian guy with no testicles adding bass to his voice)
This Ponzi is run by Singapore people. Should have report to the authorities. Now some of our friends in Russia are promoting this scam.
The Japanese authorities have been notified of their targeting Japanese citizens.
Hopefully they will get on top of it before they do any serious monetary loss to the Japanese they are targeting.
Any evidence of this report? Interesting. hope in russia too
Yes, I was the one who reported them to the Japanese authorities.
Eagle has contact information for law enforcement agencies worldwide, and assist in their investigations of these illegal programs.
In Europe Russia Japan, this Prance Ponzi is the same as Jubilee Ace, widely spread.
Have you reported Jubilee too? But since no action by authorities.
No we have not, but you can. Just file a complaint with the Securities Regulator in all those countries. Encourage as many people as possible to do the same. It is going to take a lot of people filing complaints for them to start an investigation.
Eagle is a nonprofit and can only do what our finances allow us to do. Our current workload has not allowed us time to do any research on Jubilee Ace.
Just because a complaint is filed does not mean that an investigation will take place. The more people filing the better the chance an investigation will be conducted. Be sure to provide them as much information as you can in your filing. Just calling the program a Ponzi is not going to get an investigation started.
interesting. too many Ponzi in Japan community.
I put my foot down and will say (without any evidence) this is the first case of a “White Monkey” CEO.
A “White Monkey” is a white expat who lives in China, usually working as an ESL teacher, and getting “White Monkey” gigs on the side, a “White Monkey” gig is a low paid job where the only qualifying trait you need to posses is to be white, and appear western, Chinese companies/scammers hire these White Monkeys for promotional videos/events/material so their company/scam can appear more legitimate and “international”
I base this claim solely by the desperate look in this poor schmucks eyes that smacks of “I’ve hit rock bottom in my first-world country and decided to leave everything behind and troll East Asia”
Gonna stick with Boris CEO for the actor CEOs.
Boris CEO covers all races and creeds 😀
The real players behind is from Singapore. check out the youtube, Jeffrey Scammer. Now they are scamming in Japan.
I can confirm that the Japanese authorities are looking into Prance Gold, and hopefully they will take action soon.
There’s a virtual grand launching tomorrow Japan time 12.00pm JST.
Many people are promoting it, lets see what will the CEO actor and management talk about.
For those who want to watch the virtual zoom grand opening now, tune in to zoom ID: 81202695414
Paid actors! All scammers pitching to Japanese, European & Russian people. Poor thing.
PG is heading to closure soon! there’s inside news!
Poor promoters who still believe.
Just tried to make a withdrawal last week. Everything normal.
Well yeah. Every Ponzi scheme pays “normally”, until they don’t.
Any latest info about this grand rumor?
Is it just some rumor or is the PG reliable? Because i can see many people investing here from japan.
What rumor? Prance Gold is a Ponzi scheme that will inevitably leave the majority of investors with a loss.
Grand rumor? Its THE TRUTH.
Now they offer a SECURED package to LOCK your capital. why lock capital? because if anyone withdraw anytime, they will collapse!
Everything is fake. the CEO is paid actor.
I invested from Japan, and now bit concerned whether its legal or illegal. Any updates, plz.
Ponzi schemes were illegal before you invested in Prance Gold. Ponzi schemes were illegal when you invested in Prance Gold. Ponzi schemes are still illegal now.
Prance Gold we in Japan has stop withdraw! Scam!
So apparently Prance Gold stopped paying out.
Difficult to get an update as they targeted non-English speaking countries. I’ll have something out soon.
What is the current trading of Prince Gold？ I cannot log in in Japan. What’s going on in other countries？
As per the review you’re commenting on, Prance Gold was never trading.
You invested in a Ponzi scheme and now your money is gone. Sorry for your loss.
FROM JAPAN I INVEST IN PRANCE GOLD NOW ITS NOT WORKING (SCAM ) SO HOW CAN I GET MY MONEY BACK OR IT’S IMPOSIBBLE TO GET BACK MONEY. CAN JAPAN AUTHORITY HELP US IN THESE TYPE OF SCAM CASE >
Prance Gold was a scam from day 1. It just collapsed like every Ponzi scheme does.
Your money was stolen the second you invested it, so you won’t be getting all of it back. Math is math and Ponzi schemes are a zero-sum equation.
Your best bet is filing a complaint with Japanese authorities yourself.