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Gold Miners Review: Gold investment Ponzi scheme

The Gold Miners website domain was registered on the 15th of January 2016, however the domain registration is set to private. According to Panamanian registration documents provided on the Gold Miners Facebook page, the company is owned by David Aleman, Henry Aquiles Fonseca and Pedro Lara (President). A PO Box address in Panama is provided [Continue reading...] Source: Gold Miners Review: Gold investment Ponzi scheme Read the full article and join in the discussion over at BehindMLM.

gold-miners-logoThe Gold Miners website domain was registered on the 15th of January 2016, however the domain registration is set to private.

According to Panamanian registration documents provided on the Gold Miners Facebook page, the company is owned by David Aleman, Henry Aquiles Fonseca and Pedro Lara (President).

A PO Box address in Panama is provided on the Gold Miners website, suggesting the company exists there in name only.

I wasn’t able to find any additional information on Fonseca or Aleman, but Pedro Lara does have an active Facebook account. In it, he claims to be currently living in Panama City, Panama.

Here’s the thing though, Lara’s Facebook page was only created on or around April 6th, 2016. The only content published by the account is marketing material for Gold Miners.

What I also found was that pretty much all of the available promotional material about Gold Miners on the internet is in Russian.

This corresponds with traffic to the Gold Miners website, which Alexa currently estimates 53% of which originates out of Russia.

Much of the content on the Gold Miners website is in Spanish, so there’s probably also at least one link to a Spanish-speaking country in there somewhere too.

In any event, the combination of

  • two admins no information is available on
  • a suspicious newly-created Facebook profile for a third admin
  • Russian marketing and traffic and
  • company registration in a tax-haven with lax regulation

strongly suggests Gold Miners is likely being run out of Russia itself by person(s) unknown.

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.

The Gold Miners Product Line

Gold Miners has no retailable products or services, with affiliates only able to market Gold Miners affiliate membership itself.

The Gold Miners Compensation Plan

The Gold Miners compensation plan sees affiliates invest between $10 and $10,000, on the promise of an advertised minimum 0.6% daily ROI.

Gold Miners affiliates can purportedly increase this daily ROI rate by

  • spamming social media with their Gold Miners affiliate referral link (+0.1% daily ROI rate)
  • creating a YouTube video containing a Gold Miners affiliate referral link (+0.2% daily ROI rate)
  • creating a YouTube video showing how to invest funds in Gold Miners (+0.2% daily ROI rate)
  • creating a YouTube video showing ROI payouts from Gold Miners (+0.2% daily ROI rate)
  • creating a YouTube video review of Gold Miners (+0.3% ROI rate)
  • hosting offline Gold Miners recruitment events for groups of over 15 people (+1% daily ROI rate)

The ROI rate adjustments also dictate how many levels deep referral commissions can be earnt.

Referral commissions in Gold Miners are paid out 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):

unilevel-commission-structure

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.

Gold Miners cap payable unilevel levels at five, with referral commissions paid out as a percentage of invested funds on each level:

  • level 1 (personally recruited affiliates) – 20% referral commission
  • level 2 (must qualify for 0.7% daily ROI rate or higher) – 10% referral commission
  • level 3 (must qualify for 0.8% daily ROI rate or higher) – 5% referral commission
  • level 4 (must qualify for 0.9% daily ROI rate or higher) – 2.5% referral commission
  • level 5 (must qualify for 1% daily ROI rate or higher) – 1.25% referral commission

Joining Gold Miners

Affiliate membership with Gold Miners requires a minimum $10 investment.

Conclusion

The ruse behind Gold Miners appears to be gold mining taking place somewhere. The old “you’re buying gold” routine is reminiscent of the EmGoldex Ponzi scheme.

Like EmGoldex though, the majority of transactions within Gold Miners is cash.

24K gold for amount of your investment goes at your home within a maximum period of 99 days, only if your deposit have amount of $1,000 or more.

Deposits with less money are not cumulative.

Gold is only paid out if requested by an affiliate. And it never is, at least not in any significant quantity (think EmGoldex’s paper-thin gold cards), due to prohibitive shipping costs.

Ultimately all that happens is new investors deposit funds which are withdrawn by earlier investors – making Gold Miners a Ponzi scheme.

As with all Ponzi schemes once newly invested funds dry up so too will ROI payments.

The daily nature of the promised ROIs will likely see withdrawal issues arise when invested funds are exhausted, followed by a complete collapse.

The mathematics behind such schemes sees the majority of affiliates lose money, with only those who invested early turning a profit.

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