Kointat fails to supply verifiable firm possession data on its web site.
There’s a Board of Administrators record offered, that includes Hunt Lenny as CEO and Chairman, nonetheless not one of the Administrators exist exterior of Kointat’s personal advertising materials.
In an try to seem legit, Kointat supplies registration particulars for Kointat Co LTD on the Cyprus Securities and Change Fee. Primary UK incorporation particulars for Kointat Co LTD can be offered.
Cyprus is a scam-friendly jurisdiction with little to no regulation. Regardless of registering Kointat Co LTD again in 2017, no audited monetary experiences can be found.
UK incorporation is dust low cost and successfully unregulated. It’s a favored jurisdiction for scammers trying to incorporate dodgy firms.
For the aim of performing MLM due-diligence, Cyprus SEC registration and UK incorporation is meaningless.
Kointat’s web site area (“kointat.com”) was privately registered on November thirtieth, 2019.
On the time of publication Alexa ranks Nigeria as the one notable supply of site visitors to Kointat’s web site (88%).
That is excessive sufficient to recommend that whoever is definitely operating Kointat is predicated out of, or on the very least has ties to Nigeria.
As all the time, if an MLM firm shouldn’t be overtly upfront about who’s operating or owns it, suppose lengthy and onerous about becoming a member of and/or handing over any cash.
Kointat’s Merchandise
Kointat has no retailable services or products, with associates solely capable of market Kointat affiliate membership itself.
Kointat’s Compensation Plan
Kointat associates make investments funds on the promise of marketed returns.
- Demo – make investments $10 to $500 and obtain 0.02% in 24 hours
- Funds – make investments $50 to $4999 and obtain 1.3% a day for 30 days
- Common – make investments $5000 to $10,000,000 and obtain 1.5% a day for 30 days
- Standard – make investments $10,000 to $10,000,000 and obtain 2% a day for 60 days
- VIP – make investments $50,000 to $10,000,000 and obtain 4% a day for 14 days
- VVIP – make investments $100,000 to $10,000,000 and obtain 5% a day for 30 days
A minimal $5 might be withdrawn in cryptocurrency. The USD minimal withdrawal quantity is $1000.
Observe that Kointat prices a minimal 5% withdrawal charge.
Kointat pays referral commissions on invested funds down two ranges of recruitment (unilevel):
- 5% on degree 1 (personally recruited associates)
- 2% on degree 2
Becoming a member of Kointat
Kointat affiliate membership is free.
Full participation within the hooked up earnings alternative nonetheless requires a minimal $10 funding.
Conclusion
Kointat claims to be “greater than a financial institution”.
It’s web site is stuffed with advertising waffle however beneath all of it is an easy Ponzi scheme.
As acknowledged within the introduction of this evaluation, Cyprus and the UK are scam-friendly jurisdictions.
Even when one had been to take the Cyprus SEC registration as which means one thing, by all accounts Kointat has no presence in Cyprus anyway.
As per Alexa’s site visitors estimates, Kointat is primarily energetic in Nigeria. Kointat shouldn’t be registered to supply securities in Nigeria, so at a minimal is working illegally in its major market.
The rationale Kointat isn’t registered to supply securities in any significant jurisdiction is as a result of that will require it to file audited monetary experiences.
Kointat represents it generates exterior income from quite a lot of sources:
Audited monetary experiences are the one option to verify exterior income is definitely getting used pay withdrawals.
Because it stands the one verifiable income getting into Kointat is new funding.
Utilizing new funding to pay associates a day by day return makes Kointat a Ponzi scheme.
As with all MLM Ponzi schemes, as soon as affiliate recruitment runs dry so too will new funding.
This can starve Kointat of ROI income, finally prompting a collapse.
The mathematics behind Ponzi schemes ensures that after they collapse, nearly all of contributors lose cash.