I have been seeing numerous posts of EmGoldex on my online newsfeed for the past few months. And then someone I knew asked me for my advice about it. So I asked him to tell me briefly how it works. After he gave me an overview, my gut feel was that it was indeed a scam — more specifically, a pyramid scheme.
I am not saying this as a layman. I was a legitimate high-level multi-level marketer many years back. I was a speaker and a trainer. I have devoted considerable time studying many different marketing plans from different companies, and I have also studied how unscrupulous people use these techniques to perpetuate pyramid and ponzi schemes. It was very important in my previous line of work for me to know how to explain these things because I usually got many objections and questions at the end of a presentation. Also, a considerable number of people have the mistaken notion that ALL networking companies are scams.
(For those who are interested, I wrote a three-part series a few months back entitled “Truth and Lies of Network Marketing.”)
Like Liam Neeson in the movie, Taken, I can say that I “have a very special set of skills” when it comes to smelling out what is legitimate and what is not.
However, to truly understand EmGoldex and to give it a fair chance, I decided to browse through their company website as well as watch a couple of presentation videos (one in English and one in Filipino) made by actual distributors.
These are the facts I gathered about their company and marketing plan:
- The company sells gold. You may purchase these gold bars directly from the online retail store.
- The company has a marketing program that you can enroll in that allows you to order the gold bars, and then make money (eventually) by getting two other people to enroll in the program as well. Enrollment costs 540 euros or roughly PHP35,000.
- The two other people you recruit have to recruit two more each (four people) and those four people have to recruit two more each (eight people), and then you will “exit” with PHP180,000. In other words, in order for you to earn your PHP180,000, fourteen other people must have also invested PHP35,000 each into the system.*
- Recruit more, or reinvest your earned income into the system to earn more.
The US Securities and Exchange Commission (SEC) has come out with clear guidelines over what constitutes a pyramid scheme:
- No genuine product or service. Unlike many legitimate MLMs, EmGoldex does not even have a unique product. There is no reason why one might prefer to buy or sell gold at EmGoldex except for the opportunity to participate in its recruitment system. This is a huge red flag.
- Promises of high returns in a short time period. Promises of easy money or passive income. If there were really such a thing as easy money, don’t you think the business tycoons in our country would already be building businesses such as this? Why don’t we ever hear of the Henry Sys and the Ayalas in our country going into this business if it is indeed that lucrative? Why don’t major banks and investment companies do this? Let that sink in for a moment.
- No demonstrated revenue from retail sales. Emphasis on recruiting. Does EmGoldex really make money from buying or selling gold? Or does it make money because people are buying in to the recruitment program? Think about this. Fifteen people paying PHP35,000 each is PHP525,000. The company pays out PHP180,000 to the “exiting” distributor, where does the remaining PHP345,000 go?*
So it is quite clear that the company earns its money mainly from recruitment, and that is a hallmark of pyramid schemes. The money used to pay the “exiting” distributors comes from the money paid in by new distributors. This will eventually lead to a collapse because there will come a point when there will simply not be enough new distributors to pay out all the existing ones.
Think about it. In order to pay out 1 person, the company needs 14 more people to join. So in order to pay out all 15 of them, they would need 225 more people (15×15). In order to pay out those people, they would need 3,375 more people (225×15). The more people who join, the more people they will need in order to pay out everyone who joined before them. Is that realistic and achievable? No, in due time, they will run out of new distributors coming in to support the existing user base, and if you are one of those who come in at that unfortunate time, you will lose your money, pure and simple. This is the time when the scammers pack up and run, when bonus checks bounce or no longer come in. I have seen too many of these kinds of schemes to know that it won’t last, and I can even prove to you mathematically why it is not sustainable.
I am not saying, however, that ALL those involved in this are scammers. No, I believe a lot of the distributors doing this sincerely believe that it is a legitimate enterprise and that they are helping other people in the process. What I am saying is that the people behind EmGoldex themselves are the scammers and they have fooled all these people who have joined them. Oh, but don’t take my word for it. Please do your research into “pyramid schemes,” “ponzi schemes,” and look for old news articles about Multitel, Aman Futures, and the like. Please, learn from history and do not get enticed by all the rosy visions these scammers paint.
In the heyday of Multitel and Aman Futures, people also earned from those and their participants staunchly defended the company, the founders and so on. But when they came down, they came down hard. I personally know someone who lost millions in one of those scams. Life for him and his family wasn’t pretty for the next few years as he struggled to recover.
If you are one of those who were still able to cash out, consider yourself fortunate. But I would strongly advise you against reinvesting or perpetuating this scam because there will come a time when you are either going to get hurt or you will hurt a lot of people in the process.
And some things just aren’t worth their weight in gold.
Here is another article I wrote more recently answering some objections from defenders of Emgoldex and showing why this is indeed a pyramid scheme: https://freethinking.me/essays/defending-emgoldex-and-failing-miserably/
See the following video and links for your further information and education:
http://www.thephilippinepride.com/more-ofw-victims-emerges-as-emgoldex-continues-to-scam-investors/
http://www.sec.gov/investor/alerts/ia_pyramid.htm
* Some corrections have been made to the figures in the article because of minor computational errors. The analysis and conclusion remains the same.
Originally published in Sunstar Davao.
Send me your thoughts at andy@freethinking.me. View previous articles at www.freethinking.me.
But after 2 tables the investor exit. Then they can re-entry again. Now this will be a cycle. You just need around 200+ people, exiting after 2 the entry again. Correct me if I’m wrong.
How can they run out of new dustributors if all the people exiting from the table are adding 1~2 new accounts to help the other members of the group.It is a cycle .
Hi Diosdado,
Thanks for that question. Yes, THEORETICALLY, you are correct, but REALISTICALLY, this is what will happen:
NOT ALL people will reinvest. Some will be happy to have exited and will play it safe and not play anymore. Some may try it a few more times before playing it safe. However, you cannot deny the fact that there will ALWAYS be new people coming into the system, and the more people who come into the system, the more people you need in order to make all those people earn.
Remember that for every person who exits, there are always 15 other people who have not exited yet. So, that means if there are 1 million NEW registrants in the system, it would take 15 million other registrants to make those 1 million exit. If there are 15 million registrants, it would take 225 million registrants to make those 15 million exit.
So you see, the bigger this scam grows, the harder it will be to sustain. Not only that, the more people will be burned and not earn anything at all. The ones who will go laughing all the way to the bank are the owners of EmGoldex.
You may choose to believe me or not. But I believe the logic I have presented is sound and it is only a matter of time when EmGoldex checks start bouncing, or bonus payments become delayed or non-existent, and the owners will go in hiding with their millions or billions safely tucked away.
Hi Anna,
You have almost the same question as Diosdado so please see my reply to him in the other thread. The only thing I would like to add is this…if all you are doing is to keep adding new accounts down the line, then you are exposing more and more of your capital. What if you faithfully help your downlines but your uplines no longer add new accounts under you? And then this whole thing blows up…then you will lose much more than just the 35k. That is how the person I knew lost millions…by keeping on “reinvesting” to help his downlines.
Also, if you have a close group and you really have an agreement to keep the cycle going by reinvesting, then you are not really earning anything — you are just cycling your money around. It is no different from a “paluwagan” system so popular in our country.
How many people do you think will need so that the cycle wont break and people will income continuously in a single board consider that each person who exit will reinvest their money back on top? Thanks
I watched some of the videos about emgoldex and one of those video is there is a refund policy if your not able to put new client or new recruit..if this is true,it means that the money will not goes to emgoldex am I right?
Hi Dan,
Actually, there won’t be a “cycle.” I just realized my previous comment to Anna that it is no different from “paluwagan” is wrong. Paluwagan is even BETTER. In a straight paluwagan, if sixteen of us put in 35,000 each, then the one person who gets the “pot” should get 560,000. But this is not the case in Emgoldex because that person only gets 180,000.
The 380,000 stays with the company. That means, in order for another person to exit, you need to INFUSE FRESH CASH into the system because the 180,000 that one person got is not enough to go around. So there will be no cycle. The system will keep needing more and more people until it will eventually collapse.
Hello Leila,
Again, this is in THEORY. In REALITY, only a small percentage of people actually claim the money-back guarantee because of several reasons:
1) Embarrassment or “hiya.” They won’t like to be seen as quitters or “negatrons.”
2) Desire to earn. If you sincerely believe that you put the money in as “investment,” then you will want to get a return on your investment. You don’t want to believe that you fell for a scam, so you convince yourself that this is legitimate and you “work hard” to prove to others that it is.
2) Peer-pressure. Once you make the investment, you will be encouraged by your uplines and other people involved in this. The pressure is very strong to prove that you “belong” to this elite group of leaders and earners. Also there is negative peer pressure in the sense that you want to prove wrong all the people (like me, for example) who say that this is a scam. Claiming the money back is actually an admission that you made a mistake and for a lot of people, the need to be right is stronger than recovering your investment.
Due to this, there is only really a small number of people who will claim their refund, and because it is just a small percentage, the company can actually refund them and still have a lot left over. But even then, there is one article in the links I gave above which talks about “investors” having a hard time getting their refund. So that’s another thing to consider.
So are you saying that gold extreme is also a scam. Bcoz they are also operating on the same marketing scheme.
Hi! =) you said that business tycoons have not invested on this. My take away is. HAVE YOU SEEN KABUHAYANG SWAK NA SWAK. They promoted GoldExtreme. Same structure of emgoldex but have you differentiated the gold? Have u researched the gold provider? The Gold bullion? The inglots? Did you know that ABS CBN shareholders have opened GoldExtreme? Did you know that even them clients of goldextreme do not know where their Gold is coming from? Then they (media) ABS CBN promote the business and aside from that pull down emgoldex from whom they have copy cat the so called ponzi scheme you are referring.
Btw there is no downlines or uplines. Because this is a fair business. You only have one way but EXIT. Now if there will be no one under?! That will not happen. You see when you exit your money turns five folds. If you are business minded then put 2 solo account using the money u earned. Plus u got a choice if you want the gold shipped or cash reward or coupons if you want this to become a business. Just so u know there is no earning if there is a tie whatsoever u call it.
There is a 14 day money back guarantee either you widraw it directly from the website and they wire transfer or your generous leaders will pay u instead because they want the slot or buyback if you dont find two people the leader will give the amt you gave. What if ur in level 4 and buyback? Interested people can buy it in replacement.
Why not henry sy? Why? Because money is already working for him. Why not business tycoons? If u are a business tycoon will u spend time in convincing people? Why arent they in networking? When money is already working for them they got to much in their plate.
If you are a networker the table of orders will be as easy as a pie for you and you will know it will not collapse. Do u know how much gold cost?
Do u know how much interest a gold bar stored in a swiss bank would have?
Do u know argor haraeus? Do u know UNCITRAL? Do u know how strict Germany is? What is a one time bigtime stafa of money compared to 10-15 years of income? Why has Emgoldex been in the market 5yrs? Why is Japan encouraging their people to join? Why malaysians too?
Why is Marcos considered the wealthiest man in the world? Do you know MAHARLIKA Gold?
Have you seen the gold rewards of Emgoldex? My challenge to you is ti buy the 999.9% fine gold and please research on how Gold increases its value. If you have seen the website you can call Argor Haraeus. The administrative office. You can ask in the stock market how gold reserves increases the economy of a country.
Thank u
May I ask as well why only emerges??? Why cant the OFW show their faces?
I want to hear from them so we can come up with a solution. Those links you gave here. Have you watched them?
If I am a victim of scam I will boldy show up my face. I wont be scared. Scared of what? They will be killed? Then what about the government’s witness protection program?
Another thing is Do you know sec guidelines?
Thank you =)
Hello Sir. First please do ur Math well. Only 14 people needed for 1 to exit and not 15 as u said. 2nd please do your research well. You are just talking about one table of order. Emgoldex has lots of table of orders and most of them are auto fill from first main table of orders.
Who among you already got the gold? Can I see and touch it I want a proof coz I am interested but thinking twice at the same time.
I Predict a collapse and a fight…
Diego,
If they are operate with the same scheme, it’s a scam as well — along with any other companies that have a similar scheme.
Angelo,
You are correct. 14 people needed to exit, and not 15 as I originally stated. (Correction made to the article). This is however a minor computational error that DOES NOT AFFECT the logic. It is also REGARDLESS of the table of order or auto-fill.
Pits,
Your remark about the tycoons is way off the mark. I am not talking about a Henry Sy or an Ayala joining you and recruiting people. I am talking about them going into this kind of business — for example, going into competition with EmGoldex. If it is really such a good business model, they would JUMP into it. It doesn’t matter how rich they already are. Good businessmen will ALWAYS build and acquire other good businesses. Do you see SM slowing down in building its malls? Do you see Jollibee stopping to put up stores? It was already the #1 food chain in the country a few years ago and what did it do? It ACQUIRED Mang Inasal. There is no such thing as “too much on their plate” for good businessmen, especially if they see a good, legitimate opportunity.
It is quite clear that you’re in this deep, and you will probably hang on to your company’s legitimacy until it sinks. But I’ve been watching these types of operations rise and fall for more than 15 years. Gold? I don’t know if you’re old enough to remember the Goldquest scam that ran in the 90’s to the early 2000’s. Yes, that ran for several years and was even registered in the SEC (if I remember correctly). This scheme you’re in is not new. It is very old. People have just changed the name, the product, the “marketing” plan, but underneath it’s a pyramid scheme just the same.
You may not agree and you may be vehement in your stand. But I wish you the best of luck. I just hope you don’t lose too much money or hurt a lot of people and make a lot of enemies when this all comes crashing down.
I also removed the link to your facebook page. Sorry, but I cannot in good conscience allow you use my comments section to recruit more people into your scheme.
more to read of your good information before people are fooled by pyramiding venture or bustness. more power! gbu!
I have a friend who’s also into this and asked me if I would like to join. Fortunately (or unfortunately… any way you look at it) for me, I don’t seem to have any luck with MLM whether it’s legitimate or not. So I politely declined.
Jomag: Thank you.
Alexander: Oh, I would find that fortunate, for you.
Thank for reading.
Nice article. And the truths and lies too. By going through some of the comments, we can easily identify who are in line with the company or this kind of scheme and some are really too stubborn to see reason and logic. They keep on defending and insisting that its legit when obviously its not. Its a good example of blind faith.
My husband is a mining engineer and he worked in a gold mining company for more than 5 years and he said, only BSP or any countries governments money department (office) is the only one who can have gold reserve as this is a use for the countries wealth/reserve and payment to its debts. Small scale mining companies sells gold to big companies and they will sell it in the black market to make profit but never an individual could have a gold reserve. It is mandated in any country’s law.
Emgoldex is simply Killing the market of MLM here in the philippines and sadly lots of network marketing people from biggest company are now moving to Emgoldex. That is why they kept on telling that emgoldex is scam but in reality they are just a bit insecure because they know that they will lose a lot.
Emgoldex is scam! People are not educated whats the real purpose of gold reserve!!!
Nag compute ako at gumawa ng mga tables na mabubuo. Sa 127 entries of 36,500php ang mabubuo lamang na possible re-entry ay 1. So yan lang ang nag exit sa 127 na entries. 2 complete tables para kumita ng 360,000php.
So nakagawa ng 16 tables waiting for 8 new entries for each. 8×16=128 na tao ang need para mapa exit sa 1st table ang 16 people. At yan 16 people na yan ang magpupuno sa 2nd table para pa exitin ang 2 nag exit na sa 1st table. So total of 3 exits na or 3 tao ang kumita ng 360,000php at 3 possible re-entries.
How much ang kinita ni Emgoldex pag hindi kasama yun 8 entries each sa 16 tables? 1,755,5000 php.
So if magpatuloy yun 16 tables ay madodoble at magiging 32 tables na. So 256 na tao na ang need para ma exit ang 32 people. Total earning ni Emgoldex na ay 3,187,500php.
Truth is yun 36,500php mo ay kikita nga ng 180,000php. Pero limpak limpak ang kikitain ni Emgoldex. Pero dodoble ang tao na need para makapagpa exit.
Basta nagde-depend sa recruiting, as in yung ibabayad sa naunang nag-invest yung bayad ng mga bagong nag-invest ponzi type of scam yan. Pwede yan mag-decide mag-close anytime, next week, tomorrow or 5 minutes from now. So why would you risk na ilagay yung pera mo sa isang company na may chance na ma-“trap” yung money mo doon. Sa insurance nga lang nakakatakot na maglagay ng pera after several companies closed down, sa ganitong company o sistema pa kaya.
Kami ng husband ko, we have ZERO plans to join MLM and have sat on many business presentations, ISA lang ang naupuan namin na talagang nakita namin na worth mag-invest, dahil unang una stable ang company, they own their own building to start with, they have their own manufacturing company and the products they sell are world-class, sa packaging pa lang kitang-kita na. All contact persons, all businesses registrations naka-post sa website nila. We’ve been with this company since 2009, we earned close to a million in the span of 6 years (and still earning), we know maliit pa compared sa aggressive networkers pero proud kami na yung maliit na halaga na na-invest namin, napalaki namin ng ganyan through the right company.
Eto difference sa Emgoldex, naglabas kami ng only 1/3 ng amount required to join Emgoldex. As soon as we registered may hawak kami na products na if we sell kahit pa sa mismong araw na yun, lalampas pa dun sa binitawang amount namin. So balik agad yung investment namin. And we’re now part of a system na pwede din kumita sa referrals (sorry we hate the word recruiting) pero yung nilabas namin na pera nakabalik na sa amin agad agad. Kumikita na lang kami, tapos na kami sa ROI. We also have the option NOT to utilize the refererral part of the system dahil may iba pang ways to earn. Walang quota, wala ding tatapakan na tao dahil product-wise, ang price ng lahat ng members pare-pareho. Ito yung system na walang issue kung sino nauna o nahuli, marami kaming downline na mas malaki na ang kinita sa amin. Unlike sa Emgoldex hawak nila yung pera mo, you HAVE to recruit, and until you do so, hawak nila ang pera mo, para kang blackmailed.
Nung nakita namin yung website niyang Emgoldex ni walang name na naka-indicate (officers, point of contact, wala lahat). Puro departments lang na pwede tawagan, na according sa mga threads, nagri-ring pero walang sasagot. Yung mga hardcore mag-defend about Emgoldex, yan yung mga kasali sa patak patak, yan yung mga naglabas lang ng 1T, 5T, tapos sumali sa system na paluwagan style. Yung mga nakaka-exit yan yung malakas mang-uto na sumali sa patak-patak style system nila. But still, looming ang risk na pwede yan magsara next week, bukas o 5 minutes from now.
What I see in here is that….you(investor) is the Financial Partner and the company(EMGOLDEX) is the Industrial Partner. We all know that gold is like land, its an asset that will never decrease it’s value. So you invest your money and they do the job for you. 8 slots = 36,500 each. All slots will reward 180,000 on the first table and another 180,000 on the second table. Parang yung idea kasi na pino-point dito is isa lang(1 slot out of 8) ang tatanggap ng 180,000. 8 slots pag umexit will reward 180,000 each. It’s truly a pyramid scheme like AIM or Royale and other business in this line. You buy products(with minimum purchase) and you need to recruit other members and if you get the # of heads na dapat marecruit, I believe my incentives ka, may bonus. You and your recruited friends will be selling the same product. Eh di kayo-kayo din ang nag-compete. 🙂 I am not saying EMGOLDEX is legit pero let’s give the benefit of the doubt for the company. Lots have proven their success through them. Lots have tried and gambled and they’ve got their money’s worth. And lets say wala nang mag-iinvest..Di na mapupuno yung table. Wala nang eexit. May refund naman. And yes, pag wala ka narecruit, may buyback. You will get exactly what you invested. I am not against anyone(believer or not). It’s good to educate but let’s not be judgmental. 🙂
This is a good read!
And I totally agree with the writer.
Like any other MLM Business, it will soon fail if there are no new recruits coming in. Yes it can be a fast source of income, especially if you are on the top or the first ones to join. But at some point, you have to realize, what will happen if there are no longer new recruits?
Well sir, if u can discuss the whole process of Emgoldex from 1 table til the last, from buying to refunding. And explain to us why it is a scam after, then u all have the right to say it is a SCAM.
Kung bawal po ang gold reserve sa isang business po paanu po nakakagawa ng gold jewelries? Nakaka benta sa pawnshop ng gold bars?
How can then be no longer recruits if those whom have received their rewards will reinves? This blog is totally not well researched.
Parang sugal naglagay ka kumita ka. Un lang sa EMGOLDEX 5 folds kita kasi euros eh. Pero pag naglagay ka ulit ng pera mula sa kinita mo k emgoldex? Hindi bat fair pdn? Kikita ka ng folds ulit?
Kung scam po ito. Ibig sbhn po na ang pag benta mo ng sabon at glutha at gamot ay mas ok?
SCAM ang EMGOLDEX. walang product movement! pag sali mo walang products! pag exit mo, may gold DAW pero karamihan cash (buyback DAW) or coupons ang kinukuha.
FYI, binayaran ng GOLDXTREME ang kabuhayang swak na swak para ifeature sila. ganyan gawain ng networking companies para lumabas sa tv, tanong mo pa sa vita plus.
aral aral din!
Hahaha sir puts. Alam nyo po b ibig sbhn ng coupon at buy back?
Lav,
OOT
There have been very few instances of insurance company bankruptcies. That’s because insurance companies are highly regulated and very conservatively managed.
Historically, there is a low risk of insurance company insolvencies, with the number of failed companies being few and insurance businesses that are in trouble being sold to bigger, more stable companies. – See more at: http://indexedannuitiesinsights.com/the-very-low-risk-of-insurance-company-bankruptcy/#sthash.6gw8Kmsa.dpuf
And in a more financial sense, insurance companies are far more safer and better to invest in,compared to banks. And pre-need companies are different from insurance companies. You must be talking about the pre need companies when you said several insurance companies.
But with regard to Emgoldex, Those who are in already, let them enjoy the harvest while it still bear fruits, but be open minded and diversify your money, do not place everything in one basket.
The article is very helpful..
Hey andy,
Your logic sucks. Emgoldex is internationally registered so why label it scam? Your theory-reality comparison never mattered for the right answer. Theory is applied well with the structure of emgoldex so, again, in reality, your REAL scenario will never happen. Saying that it’s not a cycle is totally wrong because you start from the main table to the 2 nd table then you can reinvest even if you don’t invite anymore due to the autofill from the main table. You pit much thought into it by basing your argument to numbers. It doesn’t really matter. The unique product is gold. Research well before you post something like this. It shOws how you just like to show off so you can get attention blah blah haha
The business model of Emgoldex smells like a scam. No unique product, only using gold as an excuse to recruit. Revenues and cashflow are derived from the recruiting activity. And what does one describe a business that is built around recruiting people for the sake of recruiting people (and in so doing to make money)? Ponzi scheme yan. The entire company will implode in due course, like a rat placed ina drum of water that has struggled to stay afloat for so long.
Ang galing mo sir tlgang nag research ka and nag compute ka talaga. Basta ang stand ko lang jan invest at your own risk and no false promises dapat para magkalokohan man ung company walang sisihan at pag nag recruit ka yan din sasabihin mo sknla wala naman kase makakapag sabi kung mwwala nalang bgla or mag tutuloy eh kase wala naman permanent sa mundo insurance at big bank companies nga nag sasara. And how are you sure na sila henry sy eh hnde nag ssupport ng gntong industry baket nag usap kayo? Close kayo? What if wala lang nagppliwanag sknya at nag iinterview sknya sa side nia about mlm andf fyi lang meron shang kamag anak na Sy rin na part owner ng isang mlm hinde ko nalan imention ang company. Wag tayong akny guys talitalinuhan tayo minsan eh heheh peace make love
Kapit sa patalim talaga ang mga supporter ng kumpanya na ‘to. Eto from Philstar.
“MANILA, Philippines – The Securities and Exchange Commission (SEC) has intensified its campaign against Emgoldex Philippines, an alleged fraud entity that is not registered to operate in the country.
“This commission has received information about the proliferation of bogus SEC public advisories concerning Emgoldex Philippines that bear the SEC logo or appear to have been issued by the commission or signed by any of its officials,” the country’s corporate regulator said in its recent public advisory.
The SEC last month already issued a warning to the public against investing their money with Emgoldex Philippines which claims to offer huge returns for every investment.
Despite the earlier notice, however, fake SEC public advisories from Emgoldex Philippines have continued to surface.
“Any public offering or solicitation of investment in the Philippines without the prior license or permit from the SEC is strictly prohibited by law and may be penalized by imprisonment and/or fine,” the corporate regulator said.
“There is no distinction whether the investment offering is made through the Internet or in a commercial or public place as long as the investment solicitation is indiscriminately offered to the public in general within this jurisdiction,” it said.
Business ( Article MRec ), pagematch: 1, sectionmatch: 1
The SEC reiterated that based on its existing records, Emgoldex is not a registered corporation or partnership in the Philippines.
Thus, the agency said the entity is not licensed or authorized to solicit investments from the public in the country.
“With regard to the claim that Emgoldex is a registered entity in foreign countries like Germany, Dubai, Cyprus, and elsewhere, it is still not allowed to conduct investment solicitation activities in the Philippines without first securing the required registration and license from the SEC,” it said.
The SEC said that any person who is acting as an agent, salesman, investment solicitor, promoter, endorser of investment solicitation for and in behalf of Emgoldex is required to secure an appropriate license.
The SEC’s attention was called last month after receiving reports that Facebook users are being invited to invest their money in Emgoldex Philippines’ investment scheme called “Pinoy Style Patak Patak.”
Emgoldex Philippines is luring the public to invest for a promise of high returns where an investment of P1,000 would earn profits ranging from P5,000 to P10,000 or a placement of P35,000 would yield P180,000 to P360,000.”
Ang masasabi ko lang dyan, oo mas malamang na there will come a time na mag collapse ang table. #walangforever. Pero unlike sa ibang networking, ito once na umexit ka, pwede ka ulit mag invest sa taas para mapuno yung table. Ngayon, sinasabi ninyong walang product, ganito kasi nangyayari, hindi lahat afford ang mag solo account. Kaya ang nangyayari sharing sa 36,500 and hati hati sila sa 180k, and take note, for every 540 euro, may fee na 40 euro so dun pa lang may kita na ang company. Kung solo account ka sige ipa deliver mo yung gold. Eh kung anim kayo na maghahati? Would it be practical? Ang sa akin lang, even mga OFW, lam nila possibility na anytime, pwede ito mag collapse. Ganito lang yun, nag share ka ng 3,700. Kapag nag exit ka, 18k makukuha mo. And then another 18k. Kung madiskarte ka,eh di just keep the 3700,
Na capital or lets say keep the 10k, re invest the 8k. And ganun din friends mo. Gagalaw at gagalaw ang table. Kahit naman sa ibang business, kapag wala ng customer, di ba lugi na? Magsasara na? Nasa sayo na yan kung ano diskarte mo sa pera mo. At habang kumikita, why not take the oppurtunity. Just manage your money wisely…
Nakakatuwa naman kayo. Ginamit nyo pa advisory ng SEC. Samantalang si atty lukban naman na syang gumawa ng advisory na yan ay napatalsik na ng EMGOLDEX. Wala na sya. Hanggang April 30 lng sya ng 5 oclock ng hapon. Nanahimik na ang tao. Huwag nyo ng esturbuhin yun. Ang author ay walang kaalamalam tungkol sa emgoldex. Huwag po kayong magmagaling. Kahit bata naiintidihan ang marketing plan ng emgoldex. Share nga ng konti sayo. Binili mo ay 200gms na gold worth 360kpesos. Binayaran mo lng ay 35k. May utang ka pa ngang 325k. Advertise mo lng sa 2 tao Tapos na ang utang mo. Paano kikita ng malaki ang company sa 35k ng bawat referrals kung ito ay 10% lamang ng binili nilang items. Kung ikaw may ari ng tindahan ng bigas, papayag ka bang kunin ng customer mo ang isang sakong bigas na 200 pesos lang binayaran nila. Pag isipan ng mabuti Dahil ganito ang sitwasyon ng emgoldex. Kung nagnenegosyo c emgoldex at 35k lng pinabayad sayo pagkatapos ibibigay pa sayo ang 200 gms gold na worth 365k, nako hindi negosyo ang tinayo nila, charitable institution.
Emgoldex members are simply blinded and stupid! Even the official Emgoldex website posted on their page they they don’t recognize Emgoldex Philippines and is not in anyway connected with that group. There are people who simply can’t understand basic logic.
I just cant understand why Emgoldex became scam in Philippines while in all more than 200 countries it is working. And many OFWs achieving the benefits of Emgoldex. Actually not only one time u can recieve the 180k, its 2 times. If there will be a run away system, it will be the person as leader who runs the money not the Emgoldex. Actually be ware of saying that it is a scam because Emgoldex are taking a legal action.
Thanks Andy for educating the public. This is by far the most helpful article I’ve read about EMGoldex. Now I can share this to my friends para hindi na sila mabiktima pa.
How can a “business” take legal action against those saying that it is a “scam” if that business is not even considered “legal” in the first place. In the sense that it is not even registered in the country it is operating, no proper documentation, a legal address and not paying due tax considering the ” humongous” return they are claiming?
may return po ang pera mo pero may bawas na, un ang sabi ng kaibigan ko na member, ang mabalik lang sayo ay 70%, so meaning ung naibigay nila pang exit ng iba ay naibawas na nila..
There is not such thing as easy money.. Lahat ng bagay pinaghihirapan. Kaya hindi talaga totoo ang mga sistema na magkakapera ka agad. Tsk.
if it is to good to be true. . then it is a scam. . .and I am sorry to tell to those people already in it. . .be prepared for the loud thud. . it hurts. .
I say let those who firmly believe in this scam invest as much as they want. If they cannot understand simple logic, they don’t deserve to be saved from this scam!
Paano naman ang ibang networking bakit ang emgoldtex lng ang nakikita? Para sa akin lahat ay parepareho scam , may naging milyonario na ba na ofw sa networking tulad nag mga propaganda ng mga ibang MLM?