Company: Emgoldex/Global Intergold
Learn how to make money online from home using emgoldex and global intergold. Is this a legit way to make money from home? Click here to learn more.Before I even get started I have to let you know that this is not going to be a typical review of Emgoldex & Global Intergold.
This is going to be more of a warning not to get caught up in this scam. That’s right, I’m calling them out as scammers before we compile the evidence.
Don’t worry, I’ll get to the evidence later but I want to let everyone know now in case they choose not to read the rest of the article.
You see, I moved to the Philippines in 2011 and I remember hearing a lot of negative press about them.
It just so happens that in November of 2015, an article about the Securities and Exchange Commission in the Philippines officially sued Emgoldex for fraud.
You would think this means that Global Intergold is off the hook right!!
Not so fast…
I will provide you a quote from a news article I was able to track down:
“SEC said two cases were filed before the Department of Justice (DOJ) against related entities Emgoldex, Global Intergold, and Prosperous Infinite Philippines Holdings Corp.”
If you want to check out the entire article feel free to check out, SEC Sues Emgoldex Over Alleged Investment Scam.
Emgoldex changed their name to Global Intergold once the scam was revealed. So this means that Global Intergold is just a carryover scam from Emgoldex.
I am so happy that the Philippines Government has stepped in because the two companies have scammed in excess of a billion PHP from the country alone.
This is a global company so who knows how many people and how much money was fraudulently taken away from honest and hard working people.
Ok, now that I have at least warned people about the two pseudo companies, I will prove these accusations by showing people how the company got to this point.
This will be done by an overview of the company, what the company does and finally, the compensation plan.
I think it is pretty obvious at this point that I would not recommend this company to anyone but I will still provide a conclusion that will put everything into perspective.
There will be a lot of information because after 2 hours of reading other reviews and testimonies, there was literally nothing good to say about the company.
Not one testimony or review had anything good to say.
A Emgoldex & Global Intergold Overview –
There isn’t a whole lot of information on Emgoldex; Surprise, surprise.
The information I did uncover is either basic biographical information or a news report about its illegal behavior.
At any rate, Emgoldex was founded in 2010.
There are two major companies that finance it, Dubai and Gold & Silver Physical Metals Company, and another trading company from Germany.
Of course this information is no longer indicated on the Emgoldex or Global Intergold websites. At one point, this information was on the Emgoldex main page.
After receiving an abundance of bad press and legal issues, EmGoldex was renamed Global InterGold.
This is why I decided to make a review of both companies simultaneously. Warnings are everywhere and I challenge you to find a positive review on the internet.
The scam lies in the fact that start up costs are nearly $8000 and you aren’t really investing in gold, you are investing in compensation plan.
The money you invest basically pays other people and gold transactions are limited.
You are making money on recruiting people on the premise of cash for gold transactions but what is really happening is quite different.
You initially start the compensation plan by investing 540 EUR and try to get 2 recruits. If enough slots are filled, you end up creating a team and get payouts accordingly.
The difference between EmGoldex and Global InterGold is that the latter company offers a 12 month delay on payment.
This may sound like a completely different arrangement but the figures end up being identical at the end of the 12 month delay.
If you happen to get two recruits during the 12 month delay, you can request for your return of investment rather than a gold reward.
Most of the time, you get nothing in return except a bit of gold hoping that you will be satisfied enough to reinvest with more money.
What strikes me as strange is that the president or founder of the company is not actually disclosed by the company.
Back to the “compensation plan.”
There was a fair bit of research done on the company and Russia is the biggest source of traffic to the GIG website with 15.3% and the Philippines is at 15.1%.
What ends up happening is that people never really buy gold, the only revenue comes from the affiliate program.