BG Wealth Sharing Investment Platform has a ton of red flags:
1- Fake Professor (Stephen Beard):
2- Fake Trading Signals that boast a 99.6% Win Rate:
I asked AI to tell me the the ‘average’ win rate for Pro Traders and here is what it came up with:
So how can BG Wealth Sharing get a constant win rate of 99.6% while the majority of pro traders average a 50% Median win rate world wide?
3- Ridiculous Returns:
According to this chart above, they are promising their investors that an investment will 1000X (or more) in 18 months.
4- BG Wealth Sharing MLM Comp Plan:
This is the ONLY Source of Revenue going into BG. Without Network Marketers recruiting gullible people into a scheme promising 1000X the returns than they initially invested, there would be no money created to pay Paul from robbing Peter and Paula.
5- Not Registered with ANY Securities Regulator.
So far they have gotten fraud warnings from the UK, Alberta, Canada, Australia and now New Zealand…
According to the FMA.:
- The scammer sets up a series of WhatsApp groups, these appear popular, but are mostly filled with bots.
- The scammers send bulk messages to potential new victims, inviting them to join the WhatsApp groups. In these messages, the scammers often falsely claim to be an employee of a New Zealand bank, investment firm, or other financial service provider.
- The WhatsApp group is led by a “mentor, “coach” “professor”, “assistant” or “crypto adviser”.
- The scammer will promise 100% returns with “trading signals” shared throughout the day.
- Users are encouraged to invite new recruits (often friends or family) and they receive rewards for each person they recruit.
- The groups may display a leaderboard and offer exclusive prizes such as cars for those that reach the top. We believe these leaderboards are fake and that you will not receive any of the prizes advertised.
And even more…
- Users are instructed to open an account at a cryptocurrency exchange and load it with funds from their bank account. They are then instructed to transfer this cryptocurrency into a so-called “trading account”.
- The scammer will introduce the user to an investment platform which comes highly recommended. The platforms have gone to great lengths to appear authentic by gaining overseas licences.
- The user will be able to make a few trades, so they believe the platform is authentic and encouraged to invest more funds.
- When the user asks to withdraw funds, they are told they must pay a significant fee to release the money. But even if these fees are paid, no money is returned.
This latest BG Wealth Sharing fraud warning comes after the Australia ASIC one (that these scammers pretended they were registered with).
There are many more red flags.
To see more of them, you can see my BG Wealth Sharing review.
This will not be the last fraud warning.
If the US Regulators get on board, they will usually just issue a ‘Cease & Desist’ and any network marketer getting caught in the US after that point, could face the DOJ.
Once more investors get scared off from more fraud warning alerts, it will starve the scam of new investment triggering a collapse.
Once that happens, this will leave the majority of investors in deep losses (just like with any other ponzi scheme).
About the Author:
-Rory Singh
EX Canadian Truck Driver
I used to work up to 80 hours per week, away from my home and got fed up with that lifestyle. I came online, plugged into a system, followed the steps in training and started creating a part time income. Eventually I got really consistent and replaced my income entirely online and only have to work a couple hours per day.
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