This is a new company I have researched and can't find anything negative. Does anyone have any insight into it's validity as an MLM. It offers Gold and Bit coins.....
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This is a new company I have researched and can't find anything negative. Does anyone have any insight into it's validity as an MLM. It offers Gold and Bit coins.....
http://imageshack.com/a/img903/1705/Ct3LJX.jpg
http://imageshack.com/a/img746/1494/iCeJ2K.jpg
http://imageshack.com/a/img537/1695/lqBF57.jpg
Just your average illegal endless chain recruitment / pyramid scheme disguised as an MLM company.
Registered to a German address and it's website is hosted in Germany, so good luck getting your money back when something goes wrong and it WILL go wrong
The gold is overpriced based on this analysis when compared with spot.Quote:
Originally Posted by tyler1781
Attachment 8190
Attachment 8191
I did not link the website as I don't market for other people, but should be easy enough to find with google comparing this with Karatbars. http://www.realscam.com/f8/karatbars...bars-com-3278/
If my business is going to be buying and selling gold then I can not afford to be paying over spot when I buy and under spot when I sell. It is really that simple, the fact that it is sold in an MLM wrapper makes it even more dubious. Rather than selling gold, people will likely be selling the opportunity. Legally speaking that throws this in the realm of an illegal pyramid (less than 50% retail sales) and very likely the unlicensed promotion of investments.
I check the company , the company is new and clean.
Regarding the company compesantion plan i sow they are using a pass-up system and a trinary system , same sistems are used by others big companies like Mpowernetwork
Regarding the gold price they practice a normal price, i sow they sell the gold at 34 euro/gram. ( if u ask a bank u will se price is 36-38 euro/gram )
The supplier of the Ilgamos is ARGOR HERAEUS ( ARGOR-HERAEUS ) this is one of the biggest refinery in switzerland
I search on google, and i sow other MLM companies.. who wants to make BIG profits sell the gold at 47 euro.
So.. after my research i think is a good business.
I signed up with them and ordered gold it was delivered by fedex. i found out they pay commission all gold sales. the price was very good. i will recommend ilgamos. and i don't think it is a crime to reward people for bringing more clients, this is how smart companies grow through referals
And you are as wrong about that as you are about this scam. Smart companies grow by providing a product/service that people want at a good price and service. I don't have to 'reward' any of my customers (that come back and give me even more money time after time) for their recommendations that are growing my business. I provide a worthwhile legal service that people need.Quote:
this is how smart companies grow through referals
I responded to your PM as well.Quote:
Originally Posted by SCAMadmin
First off, if I were an admin at this site, I would remove "admin" from your user name. It gives the appearance that you are an admin for Real Scam which you are not.
As for selling gold they are selling it for roughly 10% over spot, which is about 5-8% too high IMO! If someone wants to buy physical metal they can shop around and buy/sell very close to spot. Straight up, I don't care what people pay for stuff. And there are companies that charge way more than ilgamos, but so what? If you want to overpay and call it your business then I hope you make up it up on volume.
Since the gold is overpriced this will lead again in my opinion to recruiting others into the scheme rather than selling of gold. Since it is very unlikely that greater than 50% of the gold will be sold at retail it will almost certainly meet the definition of an illegal pyramid scheme. Again, do I care what you do, no not at all.
The telltale signs of a pyramid scheme | Consumer Information
Let's throw one more thing into the mix, clearing customs. An issue, maybe, maybe not. Still do I care, you know I don't.
https://help.cbp.gov/app/answers/det...porting%20gold
Recap-aroo! If you want to pay 10% over wholesale/spot you are a customer not a business owner. If you want to find other customers that want to pay too much and call themselves business owners then I suppose this will fit the bill as good as any. For my time, if I buy things either to hold as an investment, or to resell as a business, I have never found overpaying to be the best financial stratagem.
Yeah. That's a pretty scummy thing to do but I like to look at it as he's admitting he's the admin of this scam in this thread.Quote:
First off, if I were an admin at this site, I would remove "admin" from your user name. It gives the appearance that you are an admin for Real Scam which you are not.
http://imageshack.com/a/img633/7721/YiYUYq.jpg
One wonders how the various customs departments involved and Fedex in Hungary and Romania would feel if they knew how undeclared gold was being transported around Europe.
Good thing you came to us, it very likely IS a crime, probably not only in your state, but at a federal level. Really though, what does it matter? 99% of people will buy the overpriced business packs and will end up losing money. You just can't overcome the math of paying too much for product, and not enough people in the world to fall for this crap.Quote:
Originally Posted by boomerang
Here's the Iowa version of the law prohibiting referral sales: Iowa Code 714.16(2)(b)
The advertisement for sale, lease or rent, or the actual
sale, lease, or rental of any merchandise at a price or with a rebate
or payment or other consideration to the purchaser which is
contingent upon the procurement of prospective customers provided by
the purchaser, or the procurement of sales, leases, or rentals to
persons suggested by the purchaser, is declared to be an unlawful
practice rendering any obligation incurred by the buyer in connection
therewith, completely void and a nullity.
A (MLM) Skeptic: MLM Basics: Why are there so many names for MLM?
There are also a whole host of federal laws that apply to referral fees for almost every "finance" related profession.
Here is a discussion surrounding RIAs, while iggy-gold is a bit different in scope I don't see how some similar arrangement would escape the intent of the law.
Frequently Asked Questions Regarding Solicitor Referral Arrangements: Registered Investment Advisor (RIA) Compliance Consultants
What information must be included in the separate written solicitor disclosure that the third-party solicitor must provide a client?
As outlined by SEC Rule 206(4)-3, the separate written solicitor disclosure must include the following information:
The name of the solicitor;
The name of the investment adviser;
The nature of the relationship between the solicitor and investment adviser;
A statement that the solicitor will be compensated by the investment adviser for the referral;
The terms of such compensation arrangement including a description of the fees paid or to be paid to the solicitor; and
The additional amount that will be charged to the investment advisory fee and the differential attributable to such a solicitor arrangement.
=================================================
When I look at the "How can I make a mint" with this great program section, there are a few things that really suggest HYIP, and almost certainly with the "profit sharing" the legal definition of an investment/security. In which case, then yes paying fees for solicitation is in fact a crime.
SEC v. Howey Co. :: 328 U.S. 293 (1946) :: Justia US Supreme Court Center
Courts have frequently examined the promotional materials associated with an instrument in determining whether it is a security. If the materials promise things like great returns or guaranteed income, the court will almost certainly find the instrument to be a security, and therefore subject to federal securities regulations. -
What is a security and why does it matter? - Cutting Edge Capital
LIKE THIS PERCHANCE??
Attachment 8214
Attachment 8215
Attachment 8216
=================================================
When considering joining an MLM program, beware of these hallmarks of a pyramid scheme:
No genuine product or service. MLM programs involve selling a genuine product or service to people who are not in the program. Exercise caution if there is no underlying product or service being sold to others, or if what is being sold is speculative or appears inappropriately priced.
Promises of high returns in a short time period. Be leery of pitches for exponential returns and "get rich quick" claims. High returns and fast cash in an MLM program may suggest that commissions are being paid out of money from new recruits rather than revenue generated by product sales.
Easy money or passive income. Be wary if you are offered compensation in exchange for little work such as making payments, recruiting others, and placing advertisements.
No demonstrated revenue from retail sales. Ask to see documents, such as financial statements audited by a certified public accountant (CPA), showing that the MLM company generates revenue from selling its products or services to people outside the program.
Buy-in required. The goal of an MLM program is to sell products. Be careful if you are required to pay a buy-in to participate in the program, even if the buy-in is a nominal one-time or recurring fee (e.g., $10 or $10/month).
Complex commission structure. Be concerned unless commissions are based on products or services that you or your recruits sell to people outside the program. If you do not understand how you will be compensated, be cautious.
Emphasis on recruiting. If a program primarily focuses on recruiting others to join the program for a fee, it is likely a pyramid scheme. Be skeptical if you will receive more compensation for recruiting others than for product sales.
SEC.gov | Beware of Pyramid Schemes Posing as Multi-Level Marketing Programs
Sounds like my job when they recruited me,promised the world and commission would be thru the roof but now they I've been there for over 2 years it nothing like that. I work for a multi billion dollar company btw!! Mean while all the execs at the top take home millions of dollars and give us workers who actually do the real work peanuts! I'll take my chances with a MLM any day!
Your problem is, the subject of this thread "ilgamos" isn't an MLM company.Quote:
Originally Posted by mike5041
It's a ponzi fraud disguised as an MLM company.
Big difference
It is naive and stupid comparing such pyramid to a normal business practice of referring.
For example:
If I send a new patient to my good dentist, the dentist will reward me with a free consultation or a free x-ray scan or a bottle of champagne for the upcoming holiday.
The dentist will never ask me to pay him $10 or $100 or $1000 for a privilege to send him more patients :)
But it's not as you are guaranteed the pay check for slacking off. If you can't earn commission at a real job, you'll be a dismal failure at real mlm (and told you don't work hard enough) and throwing your money away at a ponzi scheme (which it appears you already did and don't know what a real job is).Quote:
Originally Posted by mike5041
Two years of being lied too and you stuck it out??? They are going to love you at the next "Dream Weekend", bring a sack to carry home all those must have cassettes and demo kits.Quote:
Originally Posted by mike5041
Go get'um tiger... Putting aside the whole 100% of full time minimum wage workers make more than 99% of those in "Settle the Score with the Fat Cats MLM", it sounds like you are on the right track.Quote:
Originally Posted by mike5041
Richard DeVos - Forbes
Michael Johnson - Forbes
GO TEAM!!!
Attachment 8801
Shocking MLM statistics
SINCE THIS HUNK OF GARBAGE PROGRAM ISN'T EVEN MLM...
The odds of profiting by investing in a clearly illegal no-product pyramid scheme2 (with all winners re-investing) is approximately –
667 times as great as the odds of profiting after enrolling as an Amway/Quixtar “distributor”
111 times as great as the odds of profiting after enrolling as a Nu Skin “distributor”
69 times as great as the odds of profiting after enrolling as a Melaleuca “distributor”
Quote:
Originally Posted by mike5041
I'm with you Bra, sometimes when I am at the store I tell them charge me double for that bottle of vitamins and I pretend I'm in MLM. Then I turn to the person behind me and exclaim "It's great to be in business for myself"!!! Next I head to the Barnes and Noble to creep on people in the business section where I lurk like a ravenous beaver. Its off to the McDonalds Play Palace where I pretend to care about the costs of raising a child with parents. (Being a single dude in the play area at Mickey Ds hardly seems weird when you have an MLM dream to let the lucky few in on)
Once the conversation gets going I easily slide in how someone can lower parenting costs by paying more for everything, a lot more. Plus how much extra they can pocket by paying sitters and driving hours to rallies. Let's face it, kids are much better off when their parents are off every night not earning any money for the family.
My web strategy even more robust, I set up sites asking is MLM a scam. Then I tell visitors NO, but only if you come in my program. So far no one else does this.
OH OH OH FLUSH THAT STINKIN JOB....
Any chance you are this guy? View Profile: Mike75065 - RealScam.com - Is it, or isn't it? You Decide.