EmpiresX supplies no data on its web site about who owns or runs the corporate.
EmpiresX’s web site area (“empiresx.com”) was privately registered on December 1st, 2019.
Regardless of being set to English, sure components on EmpiresX’s web site nonetheless present up in Portuguese:
This means whoever is working EmpiresX is fluent in Portuguese.
Additional analysis reveals EmpiresX advertising materials crediting Emerson Pires and Flávio Gonçalves as co-founders of the corporate.
In keeping with his LinkedIn profile Emerson Pires is predicated out of Florida within the US.
BehindMLM first got here throughout Emerson Pires in our feedback part. Again in 2018 Pires confirmed up to defend the Mining Capital Coin Ponzi scheme.
Apperently everyone seems to be misguided and haven’t completed their analysis appropriately.
As an alternative of talking about any multi level marketing firm available in the market why not do precise investigation equivalent to truly talking to homeowners and getting the total reality and proof of a an organization earlier than leaping into conclusions. Please learn your individual evaluations behindmlm.
As an early investor, Pires doubtless made cash. Mining Capital Coin collapsed by the top of 2018.
Probably attributable to language limitations, I used to be unable to determine Pires’ involvement in some other MLM alternatives.
Flavio Goncalves is purportedly primarily based out of Brazil. Identical challenge with language-barriers.
Replace fifth June 2021 – BehindMLM reader Semjon has tied Flavio Goncalves to the Brazilian MLM software program firm Technology2u.
It appears Technology2u ran out of scams to promote their providers to so, with the assistance of Emerson Pires, determined to start out their very own.
For extra data confer with remark #1 under. /finish replace
Learn on for a full assessment of EmpiresX’s MLM alternative.
EmpiresX’s Merchandise
EmpiresX has no retailable services or products, with associates solely in a position to market EmpiresX affiliate membership itself.
EmpiresX’s Compensation Plan
EmpiresX associates make investments $200 or extra in bitcoin or ethereum, on the promise of an marketed “as much as 1%” day by day ROI.
- Associates make investments $200 and obtain as much as 0.6% a day
- Buyers make investments $400 and obtain as much as 1% a day
These funding tiers shouldn’t be confused with “affiliate traders” under, used to confer with EmpiresX associates who’ve invested.
Observe EmpiresX prices a 20% withdrawal payment made on withdrawals inside an affiliate’s first month.
EmpiresX Affiliate Ranks
There are seven affiliate ranks inside EmpiresX’s compensation plan.
Together with their respective qualification standards, they’re as follows:
- Rank 1 – make investments $500 and recruit at the least one EmpiresX affiliate investor
- Rank 2 – make investments $1000 and recruit at the least two EmpiresX affiliate traders
- Rank 3 – make investments $1500 and recruit at the least three EmpiresX affiliate traders
- Rank 4 – make investments $2000 and recruit at the least 4 EmpiresX affiliate traders
- Rank 5 – make investments $3000 and recruit at the least 5 EmpiresX affiliate traders
- Rank 6 – make investments $4000 and recruit at the least six EmpiresX affiliate traders
- Rank 7 – make investments $5000 and recruit at the least seven EmpiresX affiliate traders
Referral Commissions
EmpiresX pays referral commissions by way of a unilevel compensation construction.
A unilevel compensation construction locations an affiliate on the prime of a unilevel workforce, with each personally recruited affiliate positioned instantly below them (stage 1):
If any stage 1 associates recruit new associates, they’re positioned on stage 2 of the unique affiliate’s unilevel workforce.
If any stage 2 associates recruit new associates, they’re positioned on stage 3 and so forth and so forth down a theoretical infinite variety of ranges.
EmpiresX caps payable unilevel workforce ranges at nineteen.
Referral commissions are paid out as a proportion of funds invested throughout these nineteen ranges as follows:
- stage 1 (personally recruited associates) – 5%
- stage 2 – 4%
- stage 3 – 3%
- stage 4 – 2%
- ranges 5 to 19 – 1%
Profession Bonus
Utilizing a second set of affiliate ranks, EmpiresX rewards associates for encouraging others to take a position.
- Bronze Dealer (generate $16,000 in unilevel workforce funding quantity) – obtain a “ledger”
- Silver Dealer (generate $48,000 in unilevel workforce funding quantity) – obtain a “good watch”
- Gold Dealer (generate $64,000 in unilevel workforce funding quantity) – obtain an iPad
- Sapphire Dealer (generate $480,000 in unilevel workforce funding quantity) – obtain a “journey voucher”
- Emerald Dealer (generate $1,600,000 in unilevel workforce funding quantity) – obtain a Rolex watch
- Emerald X Dealer (generate $3,200,000 in unilevel workforce funding quantity) – obtain a “compact automotive”
- Ruby Dealer (generate $11,200,000 in unilevel workforce funding quantity) – obtain a “luxurious sedan”
- Ruby X Dealer (generate $16,000,000 in unilevel workforce funding quantity) – obtain a “luxurious crossover”
- Diamond Dealer (generate $48,000,000 in unilevel workforce funding quantity) – obtain an “unique automotive”
- Double Diamond Dealer (generate $80,000,000 in unilevel workforce funding quantity) – obtain “sports activities automobiles”
Becoming a member of EmpiresX
EmpiresX affiliate membership is tied to an preliminary $200 or $400 funding.
The distinction between these two funding tiers is earnings potential.
Observe that EmpiresX solicits funding in bitcoin and ethereum.
EmpiresX Conclusion
EmpiresX represents it generates exterior income by way of “software program”.
With our software program, your return is assured, yielding as much as 30% revenue per 30 days.
Supposedly EmpiresX’s buying and selling actions are overseen by the “grasp dealer” Joshua Greg.
As above, Greg is being credited as both working at or working for Goldman Sachs.
Outdoors of EmpiresX Greg doesn’t have a digital footprint. It is a crimson flag, suggesting a bogus identify is getting used.
What we do know is the person taking part in Joshua Greg has an American accent. Whether or not he’s within the US or offshore although is unclear.
As a part of their advertising efforts, EmpiresX supplies associates with buying and selling studies of their backoffice.
Two necessary factors must be confused:
- This will not be proof of EmpiresX truly utilizing exterior income to pay withdrawals.
- Social media advertising will not be an alternative choice to registering with monetary regulators and offering audited monetary studies.
By their very own admission, EmpiresX is working a passive funding MLM alternative:
Enroll, buy the plan, add funds and put the robotic to work. Then simply sit again and watch the revenue be deposited in your account.
This constitutes a securities providing, requiring EmpiresX and its executives to register with monetary regulators.
Within the US that’s the SEC, in Brazil it’s the Securities Fee.
A fast test of the SEC’s Edgar database reveals neither EmpiresX, Emerson Pires and Flávio Gonçalves are registered.
EmpiresX fail to supply proof they’ve registered with Brazil’s Securities Fee, or a monetary regulator in some other jurisdiction.
Because of this at a minimal, EmpiresX is committing securities fraud.
MLM corporations commit securities fraud after they aren’t doing what they declare to be. With respect to EmpiresX, that is producing exterior income to pay withdrawals by way of buying and selling.
The one verifiable income coming into EmpiresX is new funding.
Utilizing new funding to pay a day by day return makes EmpiresX a Ponzi scheme.
As with all MLM Ponzi schemes, as soon as affiliate recruitment dries up so too will new funding.
This can starve EmpiresX of ROI income, ultimately prompting a collapse.
The mathematics behind MLM Ponzi schemes ensures that after they collapse, the vast majority of individuals lose cash.
Replace 1st December 2021 – Following non-payment of withdrawals for a month and a half, BehindMLM has known as EmpiresX’s collapse.
Replace nineteenth January 2022 – EmpiresX has introduced it’s shutting down.
Replace seventh 2022 – The SEC has sued Emerson Pires, alleging at the least $8 million in damages.
The lawsuit pertains to Mining Capital Coin, a Ponzi scheme Pires co-founded in late 2017.