Read GoldenWay Review here to know about the Ponzi scheme they are offering
The GoldenWay investment program has gone bust, and payments are no longer being made.
Most of the web-traffic of GoldenWay website is coming from Russia (23%), followed by France (11%) and Spain (9%).
On January 6th, GoldenWay notified its investors that they will be unable to withdraw their funds for a period of four months, as well as canceling any withdrawal requests that were already in the process. Despite this, they are still allowing deposits and new investors. According to a document from a GoldenWay leader’s meeting, their Ponzi scheme has fallen due to a lack of gold sales. In the same document, the company claims that withdrawals will be enabled again when “society evolves”. GoldenWay, headed by Ukrainian fraudsters with connections to Dubai, was a Boris CEO scheme and the exact number of victims and the amount of money lost is still unknown.
In October 2022, Russia issued a warning about the GoldenWay pyramid scheme. Ukraine does not have active regulation of MLM Ponzi schemes and Dubai is not likely to take any action as they tend to overlook securities fraud.
According to SimilarWeb, there was a rapid increase in visitors to the GoldenWay website over the past few months – from 839,000 in October 2022 to 1.6 million in December 2022. The majority of visitors came from Russia (23%), France (11%) and Spain (9%).
An assessment of Golden Way reveals that the firm’s CEO in Dubai, Boris, is involved in a fraudulent investment scheme known as a Ponzi trifecta.
If you’re considering joining or investing in a MLM company, it’s vital that you find out who is running or owns it. If this information is not provided openly, you should think carefully before making any decision.
Golden Way does not provide any information regarding the owners or operators of their business on their website. The domain of the website (goldenway.world) was registered privately on June 6th, 2021. The company has provided incorporation documents from Dubai, which is notorious for being a haven for scammers. It is a warning sign for any MLM company that uses Dubai as a base of operations. It is noteworthy that despite being seven months old, the website was initially launched back in 2019. The first video uploaded to the YouTube channel featured actors in a Dubai office opening. The woman in the video spoke Russian. Golden Way has since replaced the actors with new ones. On the other hand, the official FaceBook page is managed from Ukraine. Alexa’s data shows the highest source of traffic for Golden Way’s website is Saudi Arabia (44%), Algeria (30%) and Egypt (3%). It is essential to be cautious before joining or investing money in any MLM company that does not provide information about who runs it.
Products from Golden Way
Golden Way does not provide any goods or services for sale. The only thing that affiliates are able to advertise is the Golden Way membership program.
The remuneration system of Golden Way
Anyone who affiliates with Golden Way is required to put in an investment of 50 euros or more with the assurance of a return. The rate of return depends on the frequency of which the affiliate wishes to receive payments and a 20% deduction is applied to all withdrawals.
Grades of Affiliates of the Golden Way
Golden Way’s bonus program has nineteen different levels. The qualifications for each level, as well as what they consist of, are as follows: Investment that comes from affiliates who have been recruited directly is referred to as personally recruited investment volume. Downline investment volume is the amount of money that is put in by the complete downline (affiliates who have been recruited either directly or indirectly).
Organizations may decide to employ a commission to assist them in the process of finding new employees.
Associates of Golden Way are given a 5% commission of the capital put forward by their personally invited partners.
Ongoing payments for services rendered
Golden Way uses a unilevel payment system to pay out residual commissions. This structure has an affiliate at the top of the unilevel team, and every other personally recruited affiliate is placed directly beneath them (1st level). If any of the 1st level affiliates bring in new members, they are positioned in the 2nd level of the initial affiliate’s unilevel team. If any of the 2nd level affiliates recruit more, then they would be on the 3rd level, and so on and so forth with an indefinite number of levels. Rewards from investments in the unilevel team are based on rank. Residual commissions come into effect with 19% being given for each investment. The higher-ranked affiliates will receive the difference between their residual commission rate and the rate of the affiliates with a lower rank in their unilevel team. For example, if a Master brings in someone who invests 1000 Euros, the Master will get 12.5%, and 6.5% will be given to someone in the upline. If it is a Sapphire Director, they will get 4% (the difference between 16.5% and 12.5%), and the system will search for a Ruby Director or higher. This continues until a King Diamond is found, and whatever is left is then paid out. King Diamond affiliates will never pass anything up.
Additional compensation for an individual who gives a speech or presentation.
Golden Way offers its partner speakers (whose identity is not made plain) compensation in the form of “extra money from the whole system”. It is not specified in detail, but this is obviously an allusion to the sales of their downline members.
Bonus awarded depending on a person’s level of accomplishment
Affiliates who reach Manager or a higher status with Golden Way are awarded one-time Rank Achievement Bonuses.
Becoming a part of Golden Way
To become an affiliate of Golden Way is costless. To take part in the connected moneymaking chance, a minimum €50 EUR expenditure is essential. Golden Way encourages people to invest in fiat, ethereum, a
Ultimate Outcome of the Golden Path (Golden way Review Conclusion)
Golden Way’s affiliates are supposedly investing in gold. The company makes it appear as if they are selling gold on their website, but this has nothing to do with the MLM side of the business. It is simply a trick to disguise new investments that are used to pay out existing Golden Way investors. Investing in gold does not generate a 530.4% yearly return on investment. Golden Way fails to give an explanation for the returns they are offering, and they do not have any audited financial records to prove external revenue generation. Furthermore, Golden Way is not listed to offer securities in any of its primary investment markets. Despite the gold “ruse”, Golden Way’s Ponzi scheme is still a fraud, as affiliates must pay a 20% withdrawal fee. If Golden Way is pressed about this, they will buy gold with what they would have had to pay anyway. The delivery will be billed to the withdrawing affiliate. When the recruitment of new affiliates dwindles, so does the new money invested, which in turn diminishes the ROI revenue, causing a Ponzi scheme to fail. The math behind Ponzi schemes guarantees that when they fail, most participants will not get their money back. As of 6th January 2022, the Golden Way Ponzi scheme has collapsed.
Goldenway Review thus shows that investors should not invest in their offerings. Scam Helpers Team can help if you are scammed by Golden Way broker. File a complaint with us and get a free consultation.
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