A Ponzi scheme uses investors to pay profits to other investors. In a Ponzi scheme, the first group of people that invest in a venture is paid by the second group of investors who invest within the same scheme. In other words, the second group of investors is ripped off by the company (or person) running the scheme in order to pay the initial group of investors. A really good Ponzi scheme will then get more groups of investors to pay the group of people that invested before them. In the meantime, the person who is running the scheme is able to profit from most of the money they are stealing from people. Unfortunately, this shady business practice has been around for many years. Global InterGold is considered a Ponzi scheme. Keep reading this 2021 Global InterGold Review to discover why this gold investment company is considered a Ponzi scheme.
About Emgoldex Philippines
Emgoldex Philippines operated in 2010. They were in business for a short time before they were discovered to be a Ponzi scheme. The company was shut down and then reemerged as Global InterGold in 2015. Once they became Global InterGold, they continued to have the same problems as they did under the Emgoldex name. The company carried out their illegal activity by using the Pinoy Style Patak Patak. This is a Philippino phrase that describes big profits and high returns for a little amount of money.
The Securities and Exchange Commission (SEC) informed the world about Emgoldex. The company was never registered with the SEC. While the company was based in the Philippines it did do business within the United States. Therefore, the company had to register with the SEC. Emgoldex never did register with the SEC. The fact that the company switched its name to Global InterGold is telling. Apparently, the company continues to operate the same scheme under their new name.
If the SEC Says you’re a Scam, then you’re a Scam
The Securities Exchange Commission was created to help regulate the investment industry. The organization requires every business that provides investment services to the public to register with their organization. Investment schemes abound all throughout America and in other parts of the world. One of the SEC’s job is to ensure that the public is not being ripped off by investment companies or individuals. They keep track of who is providing this type of service by having them to register with the organization. They also oversee each organization to make sure they’re operating according to the law.
The SEC began hearing complaints between 2010 and 2014 about Emgoldex. Eventually, they stopped the company from operating within the U.S. Remember, that Emgoldex operates in the Philippines. Still, they are not able to do business in the U.S. anymore because they refuse to register with the SEC.
Global Intergold Legal Issues
The biggest problem that Global Intergold has is that the company is not authorized to sell its services to the public. The company’s employees are not authorized to engage in this behavior. The SEC has strictly prohibited this company from doing any of those activities. Still, Global Intergold continues to operate within the investment field.
The SEC prohibited the company in 2015 and they continue to operate today. They have managed to dodge the SEC for many years. However, the public has been made aware of their shady business practices. Many people within the investment community will not do business with them. However, some people who are not aware of this company are taken by their scheme. This primarily happens because investors do not take the time to evaluate the company, they are doing business with.
About Global Intergold Website
When you look at the Global Intergold Website you will quickly discover a lot of information. However, you won’t see an About me page, a FAQ section, or contact information about the company. The domain name for Global Intergold private. None of the company’s founders or workers are listed on the site. As a matter of fact, the site only has a sign-in button and a drop-down menu for language. The rest of the site just discusses the importance of gold as a safe investment. It even uses information from great philosophers from the past to help sell its services. The site also promotes a gold store for investors to purchase their gold. Still, you can’t access this store from the front page. You have to register and sign in. You must find a person online who is providing a registration link. In other words, you will need to join this site by signing up through someone else. This process gives the site an MLM format. This is what makes Global Intergold an MLM business as well as a Ponzi scheme. We’ll talk about this more within the next section.
Global Intergold Business Plan
The Intergold Business Plan is based off an MLM format. People who are signed up to the site will refer other individuals to join. The payment plan for members is not available online. However, each member that refers another person will receive compensation in return. There are people who apparently brought (invested) gold from the company and these individuals typically recruit others. Again, the company’s gold store is at the heart of their business.
Investors who are interested in getting the gold will visit this store once they have been referred. They will then begin to refer others. There isn’t a sign-up fee that has been made available to the public. However, you can believe that people are paying something to join. However, they do provide information about securities packages. However, these packages are presented in Euros and not US dollars.
The packages are listed below:
Title Contract Prepayment Tokens
These packages describe how much money a person will need to invest at each level of the program. However, they don’t reflect referral payments for recruiting other members.
Global Intergold Frauds
Some of the biggest issues with this organization has to do with the ongoing changes the company makes toward its clients. They expect their clients to constantly recruit, they lower their commission fees for when they do recruit more people and they also lower the profits that clients are to receive on their gold investments. They also make their clients change up plans otherwise they kick them out of the system. Clients regularly complained that the company is constantly inventing or creating new ways to take money from them.
Also, the company operates within many different parts of the world outside of the U.S. They can be found in Ukraine, Russia, the Philippines, the U.S. and the U.K. However, investors from across the world, all complain about the company being a huge scam. They say that they cannot find people who are in charge, so they cannot get their money back. Many Global Intergold clients are frustrated and want out of the company. Some of them refuse to leave because they don’t want to lose the money they have lost doing business with Global Intergold.
???? In the modern world, a mobile phone is not only a functional means of communication, but also an expensive accessory…
Global Intergold Latest News
Global Intergold was in the news in 2020. They were featured in various articles from different publications. One article asked the question about people investing in gold during the pandemic. In the article, they talked about Global Intergold or Emgoldex. They stated that the company was considered a fraudulent operation and that people should avoid them. After 5 years of constant warnings and bad publicity, Global Intergold continued to recruit more people to their ranks. This story was reported in The Times U.K. newspaper in April of 2020.
Global Intergold was also mentioned in an article featured in the Sun Star. This article was titled SEC Warns vs New Fast-Money Scheme. This article warned people about get-rich-quick schemes that were circulating from fraudulent companies. The article spoke about how these online opportunities were duping people by taking their money for unrealistic and bogus compensation. The article ran in the Sun Star in February 2020. The feature named various companies that were considered fraudulent by the SEC. Guess whose name was included on this list? Global Intergold was listed as a fraudulent company.
By the way, Sun Star featured an article about Global Intergold in 2015. This article is titled Emgoldex Renamed and it talked about how Emgoldex changed its name to Global Intergold. An interesting statement was made about Global Intergold. In the article the company stated that they don’t consider themselves to be an investment company. Instead, they are an online store for selling gold. This is the reason why they don’t believe they are a fraudulent operation. It also helps to explain why the organization doesn’t register with the Securities and Exchange Commission. They simply don’t really believe they are an investment firm. They just pretend like they are.
At this point we won’t go into all of the different publications that validates Global Intergold’s scandalous history. Instead, we’ll focus on what these different articles were stating about the company. Basically, the news articles listed from 2015 until 2020 stated the same thing about Global Intergold. First, the company has been having ongoing and never ending problems with the SEC. They have constantly been classified by the SEC even though the organization never claims to be an investment firm.
However, the company should recognize the fact that if they are selling gold to the public; they fall under the category of an investment company. Also, if they’re just an online gold selling store, why promote themselves as an investment outfit or promote their products to investors?
Another problem that this company constantly deal with is disgruntled clients. Many Investors and clients of Global Intergold constantly complain about the company taking their money and keeping it. Many would say that the company would come up with different schemes to keep money out of their pocket. They also stated that the company constantly changed its rules or regulations to keep them broke. Many people even complained they never received a return on their money. A lot of them said they were never given fair compensation for their recruitment efforts.
The most disappointing thing about this organization is its inability to provide profits on the gold clients purchased. When an investor risks their money in something, they do expect something in return. It doesn’t always happen that way, but all investors can reasonably expect something in return. The expected amount might be lower than expected but that doesn’t mean they will never get anything. However, Global Intergold didn’t pay anything. Yes, it’s true you can lose all your money investing but if a company promises you huge returns, and you never get anything at all, then something is wrong.
Global Intergold Company
Global Intergold company is not a company that people want to purchase gold from. They have had a shady history with the SEC. Also, this company has done too many things that help to reinforce it as a scam. The Ponzi scheme and MLM aspect of the company should not be a part of Global Intergold. The truth is that no credible gold investment company isn’t going to have these two elements as a part of their business.
Why would an investment firm need to have an MLM format? Also, no investment firm will be foolish enough to operate a Ponzi scheme with a powerful investment industry overseer like the Securities and Exchange Commission. Global Intergold also moves around a lot. They were originally located in the Philippines but now they’re showing all over the world. They appear in the U.S., in countries within South America, in various Asian countries, and all throughout Europe.
They have been featured within different publications promoting their system to gain more clients. This scheme is no longer carried out within the U.S. Various cities and regions in Asia, South America, and even in Europe are continuously targeted by this organization. There was an article within an Asian based newspaper that promoted the company as a good thing. Global Intergold undoubtedly paid for the publicity but the fact they were able to run an ad is very alarming.
The company isn’t registered with any investment industry regulator in the world. This is a huge problem because they can simply get people to invest and not be held accountable for their activities. However, one of the biggest things that are hurting this company’s reputation is its constant negative reviews and criticisms. Almost every article or nearly all of the information about this company is negative. It is amazing that Global Intergold was able to survive until modern times. This company has been able to keep going despite the suspicion, accusations, and issues.
Who is in charge of Global Intergold?
This is probably the clearest sign that this company is a huge scam. What investment company would not have it business credentials listed for people to see? If you are in charge of a successful company, why wouldn’t you let people know who you are? This is another thing that makes this company very shady to the public. People just don’t know who is running the organization.
Imagine going into a local business and it was being run by people and you had an issue with the service or with a product you purchased. You then want to talk to the management. However, there is no one there who can help you. Why? Because no one is in charge of the organization. As a matter of fact, people just seem to work there but they don’t even know who actually owns the place. This would instantly make you think, something is not right about this business. This scenario perfectly describes how Global Intergold does business.
The company shows up all around the world, but no one knows who owns the organization or where the company is located. It could be headquartered in the Philippines, but then again, it could be located somewhere in Europe. Some people say that it is in Russia. However, the Russian investment regulator has spoken out against the company as well. The bottom line is that this company has no clear founder, leader, or management. They keep it all a secret. You will literally have to conduct a serious investigation to figure out who operates this outfit. That just doesn’t make any sense for most investors.
Most investors are serious about researching the companies where they will risk their money. However, they are not going to spend months trying to find out who runs an organization. This information should be made clear from the start. If not, chances are an organization is not about the right thing.
What is currently happening with Global Intergold in 2021?
In 2021 Global Intergold continues to garner bad press. This organization has not learned from its mistakes or it doesn’t care to. Since this is the case, the company is expected to have more problems going forward. They are still on the SEC’s watchlist of companies to avoid. However, the company has managed to gain an international following. Most people just are not familiar with Global Intergold. Since they don’t have a clue about this company, they will probably believe their hype and their advertisements about being a legit organization. This of course will help to keep this fraudulent company going strong.
The bad publicity will eventually ruin this organization. Still, before it finally comes to an end, many people will lose their money to Global Intergold. Remember, investing remains a huge risky venture for most people. Global Intergold is starting to target regions and markets where investors are not that knowledgeable of this field. They are promoting their business scheme to these different entities to increase their profits. They will continue their effort because no company (or person) can be held accountable for how this organization is run. This is what makes it hard to prosecute them.
Until that time, many people who invest must be aware. While Global Intergold markets itself as an investment outfit but says they’re an online store. The organization doesn’t know what it is. It’s just a vague online presence where unsuspecting people risk their money and loses it for the most part. Global Intergold has been declared a Ponzi scam but the people who have been ripped off never really got their money back. Hopefully, Global Intergold will change its tune and become a legit gold investing organization. If it doesn’t, the company will eventually go down in history as one of the worse investment organizations of all time.
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