There are many online scams masquerading as genuine trading education websites. We have found a website called goldtinkle.com (Genesis Business Group) and we think this is an interesting site given its style of presentation and other things they do to attract naive customers. Gold Tinkle is definitely a suspicious operation and in this review, we will try and expose everything there is need to know about it. If you are here looking for a genuine trading tool or resource, go to this page and pick any of those tools.
Gold Tinkle operates in the trading MLM niche.The company’s website domain (“goldtinkle.com”) was registered on December 9th, 2018. Heading up Genesis Business Group is founder and Group Chairman, David Cheng. While Cheng (right) appears to be a real enough person, I was unable to find anything about him outside of Genesis Business Group marketing.
Mr. David Cheng was a Hong Kong born, British citizen, educated and brought up in England. Mr. Cheng received his MBA in Business Management and Administration in 2007.He has two decades experience in finance and devoted in the particular field of promoting products.
That last sentence is particularly suspicious given the lack of independent information on Cheng available. On the corporate side of things, Genesis Business Group is based out of Malaysia.
In what appears to be an attempt at disingenuous regulatory compliance, Genesis Business Group provides details of NFA registration. According to their website,
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NFA is the industrywide, self-regulatory organization for the U.S. derivatives industry.
For the purposes of regulatory due-diligence, Genesis Business Group’s NFA registration is meaningless. Highlighting this even further is that, even though Genesis Business Group has an NFA ID, its registration page states it’s a “non-member and not subject to NFA oversight”. Read on for a full review of the Genesis Business Group MLM opportunity.
Genesis Business Group’s Products include nothing because the site does not provide any real products or services, with affiliates only able to market Genesis Business Group affiliate membership itself. This is contrary to the claim that they are providing trading education using cutting edge technology.
Genesis Business Group’s Compensation Plans are as follows:
Genesis Business Group affiliates invest funds on the promise of 70% of a 15% monthly return.
Gold Tinkle keeps 20% of the 15% monthly return. The remaining 10% is used to fund the company’s compensation plan.
Genesis Business Group pays referral commissions via a unilevel compensation structure. A unilevel compensation structure places an affiliate at the top of a unilevel team, with every personally recruited affiliate placed directly under them (level 1):
If any level 1 affiliates recruit new affiliates, they are placed on level 2 of the original affiliate’s uni-level team. If any level 2 affiliates recruit new affiliates, they are placed on level 3 and so on and so forth down a theoretical infinite number of levels.
Gold Tinkle caps payable uni-level team levels at five.
Referral commissions are paid out as a percentage of returns paid to affiliates across these five levels as follows:
Level 1 (personally recruited affiliates) – 4%
Level 2 – 3%
Levels 3 to 5 – 1%
Gold Tinkle offers some sort of rank-based “differential commission”. The differential commission is poorly detailed in their marketing material, so there’s not much point going into it. Here’s a chart provided in Genesis Business Group’s marketing material:
As you can see it’s rank based and appears to offer commissions of up to $500,000 (Independent Director). We are not sure what the lot dollar amounts are supposed to correspond to (far right). Joining Gold Tinkle Group affiliate membership is free.
Despite existing for less than a year and being relatively unknown outside of its own marketing channels, Genesis Business Group claims to Gold Tinkle represent they generate external revenue via trading.
Beyond random trading charts in their presentations, no evidence of trading taking place is provided. More importantly, Genesis Business Group provides no evidence of external funds actually being used to pay its affiliates.
Being a passive investment opportunity, Genesis Business Group’s Gold Tinkle opportunity is a securities offering. This requires Genesis Business Group to register itself with the Bank of Malaysia, as well as securities regulators in every jurisdiction it solicits investment in.
Gold Tinkle has not registered its Gold Tinkle opportunity with the Bank of Malaysia, meaning it is operating illegally. As stated in the introduction of this review, Genesis Business Group’s NFA registration is meaningless.
Securities in the US are regulated by the SEC. As far as I can tell, the NFA registration is Genesis Business Group’s attempt to dupe primarily Asian affiliates. Attaching a US link to your company and then targeting investors who don’t know any better, is a common enough tactic among Asian financial scams.
With no verifiable source of revenue entering Genesis Business Group other than investment, there’s a high probability it operates as a Ponzi scheme. Supporting Genesis Business Group operating fraudulently is the company’s solicitation of investment in cryptocurrency.
Genesis Business Group has now officially accepting the USDT deposit, causing a great repercussion and attracted the eyes of global financial technology investors.
There’s no legitimate reason for this, other than to make it harder for authorities to track the company’s illegal investment activity. Certainly with no retail offering and commissions tied to recruitment, at a minimum Genesis Business Group is running a pyramid scheme.
As with all such schemes once affiliate recruitment dies down so too will new investment. This will starve Genesis Business Group of ROI revenue, eventually prompting a collapse. The math behind Ponzi schemes guarantees that when they collapse, the majority of participants lose money.
The Gold tinkle website is a scam website. Do not make any purchase on this website. It is not going to deliver your order because they don’t have any products or services. The claim that Gold Tinkle is offering trading education is just a lie. Please share this information with people near and dear to you. This will helps them also to understand the modus operandi of such scam sites. If you need trading products, find them here.
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