Forcount Review: Cointherum reboot cryptocurrency Ponzi scheme

Forcount provide no information on their website about who owns or runs the company.

The Forcount website domain (“forcount.com”) was privately registered on July 7th, 2017.

Last month a BehindMLM reader suggested Forcount had ties to the Cointherum Ponzi scheme.

Francis Silva was named as owner of both companies, which seems to be confirmed in Forcount marketing;

So the story goes, Silva launched Forcount after Cointherum collapsed.

As always, if an MLM company is not openly upfront about who is running or owns it, think long and hard about joining and/or handing over any money.

Forcount Products

Forcount has no retailable products or services, with affiliates only able to market Forcount affiliate membership itself.

The Forcount Compensation Plan

Forcount affiliates invest 0.1 or more  Litecoin and/or Ethereum on the promise of a daily 0.01% to 3% ROI.

A 5% direct referral commission is paid to affiliates who invest 0.25 LTC or ETH.

This increases to 10% if 20 LTC or ETH is invested.

Residual Commissions

Forcount pay residual commissions via a binary compensation structure.

A binary compensation structure places an affiliate at the top of a binary team, split into two sides (left and right):

The first level of the binary team houses two positions. The second level of the binary team is generated by splitting these first two positions into another two positions each (4 positions).

Subsequent levels of the binary team are generated as required, with each new level housing twice as many positions as the previous level.

Positions in the binary team are filled via direct and indirect recruitment of affiliates. Note there is no limit to how deep a binary team can grow.

At the end of each day Forcount tally up new investment volume on both sides of the binary team.

Forcount affiliates are paid a percentage of funds invested on their weaker binary side.

How much of a percentage is paid out is determined by how much a Forcount affiliate has invested in either LTC or ETH.

ETH

  • invest 0.25 ETH and receive a 5% residual commission rate
  • invest 0.5 to 1 ETH and receive an 8% residual commission rate
  • invest 2 ETH and receive a 9% residual commission rate
  • invest 5 ETH and receive a 10% residual commission rate
  • invest 10 ETH and receive an 11% residual commission rate
  • invest 10 to 30 ETH and receive a 12% residual commission rate
  • invest 50 ETH and receive a 13% residual commission rate
  • invest 100 ETH and receive a 15% residual commission rate

LTC

  • invest 0.25 LTC and receive a 5% residual commission rate
  • invest 0.5 to 1 LTC and receive an 8% residual commission rate
  • invest 2 LTC and receive a 9% residual commission rate
  • invest 5 LTC and receive a 10% residual commission rate
  • invest 10 LTC and receive an 11% residual commission rate
  • invest 20 to 40 LTC and receive a 12% residual commission rate
  • invest 50 LTC and receive a 13% residual commission rate
  • invest 100 LTC and receive a 15% residual commission rate
  • invest 300 LTC and receive a 16% residual commission rate
  • invest 500 LTC and receive a 17% residual commission rate

Recruitment Commissions

Each Forcount affiliate with an active investment pays a monthly fee.

Affiliates who invest up to 2 ETH or LTC pay a $25 monthly fee (excludes 0.1 ETH plan).

Affiliates who invest 5 or more ETH or LTC  pay a $50 monthly fee.

Note that monthly fees for LTC investment is not provided.

Recruitment commissions are paid out 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 unilevel 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.

Forcount cap payable unilevel levels at fifteen.

Affiliates who are paying a $25 monthly fee receive $1 per affiliate recruited into their unilevel team.

Affiliates who are paying a $50 monthly fee receive $2 per affiliate recruited into their unilevel team.

Rank Achievement Bonus

Forcount reward affiliates who encourage others to invest with the following Rank Achievement Bonuses:

  • Sapphire – generate 50 ETH and/or LTC investment across your binary team, receive $200 bonus
  • Ruby – generate 150 ETH and/or LTC investment across your binary team and recruit at least two Sapphires, receive $500 bonus
  • Emerald – generate 500 ETH and/or LTC investment across your binary team and recruit at least two Rubies, receive Macbook Pro laptop
  • Diamond – generate 2000 ETH and/or LTC investment across your binary team and recruit at least two Sapphires, receive an all expenses paid trip to Greece
  • Golden Diamond – generate 5000 ETH and/or LTC investment across your binary team and recruit at least two Diamonds, receive an all expenses trip to Dubai
  • Platinum Diamond – generate 20,000 ETH and/or LTC investment across your binary team and recruit at least one Diamond, receive a Rolex watch
  • Blue Diamond – generate 50,000 ETH and/or LTC investment across your binary team and recruit at least one Platinum Diamond, receive a Ferrari car or $200,000
  • Black Diamond – generate 100,000 ETH and/or LTC investment across your binary team and recruit at least two Platinum Diamonds, receive a mansion or $500,000

Joining Forcount

Forcount affiliate membership is tied to a minimum 0.1 investment in either ETH or LTC.

Participation in the attached MLM opportunity requires a minimum 0.25 ETH or LTC investment.

Depending on how much is invested, a $25 or $50 monthly fee also applies.

Conclusion

As I understand it, Forcount initially only offered ethereum investment. Litecoin was only recently added, a classic sign that ROI funds were running out for ethereum investment.

The Forcount website also mentions Mindexcoin, suggesting introducing LTC investment revenue might also be running low.

Forcount claim to generate external ROI through cryptocurrency trading.

There are more than 20 cryptocurrencies used by Forcount trade to make changes.

All with the aim of strengthening Ethereum, Litecoin and Mindexcoin.

No evidence of trading taking place or any other external source of ROI revenue is provided.

That leaves new investment as the sole verifiable source of revenue entering Forcount.

Using newly invested funds to pay existing investors a daily 0.01% to 3% daily ROI makes Forcount a Ponzi scheme.

Hardly surprising when you look at Francis Silva’s previous Cointherum Ponzi scheme.

Cointherum launched in mid 2017 and collapsed shortly after launch.

Silva also claimed to generate Cointherum ROI revenue through cryptocurrency trading, which if true means Cointherum shouldn’t have collapsed.

The Forcount website domain appears to have been registered shortly after Cointherum’s collapse.

Whereas Cointherum was a bitcoin Ponzi, all Silva has done with Forcount is switch over to ethereum and then add different altcoins as invested funds run low.

Silva is believed to be operating out of Brazil, with Forcount primarily soliciting investment from Nigeria and Colombia (Alexa).

Like Cointherum, once new investor recruitment slows down Forcount will collapse.

Ponzi math guarantees that no matter what is represented, the majority of investors will lose money.

Let’s block ads! (Why?)

This RSS post was syndicated from, http://behindmlm.com

Be the first to comment

Leave a Reply