Elamant has been rebooted as an eDuCaTiOn PlAtFoRm.
Beneath the advertising and marketing pitch is similar Ponzi scheme individuals have been dropping cash to since 2018.
Elamant launched in 2018 as a clone of the collapsed Saivian Ponzi scheme.
This didn’t come as a shock, seeing as Elamant proprietor Ryan Evans (proper) was a former Saivian government.
The ruse behind each scams was to solicit funding, get buyers at hand over nugatory receipts, fake receipts had been producing exterior income, pay out returns with new funding for so long as attainable.
After pillaging Japan and Africa for a yr or so, Elamant seems to have collapsed round late final yr or early this yr.
A advertising and marketing video touting Elamant’s new training platform was uploaded to YouTube on Might ninth.
It’s not price moving into Elamant’s training platform (not that any particulars are offered), because it has nothing to do with returns paid to associates.
Elamant associates pay a $99.95 Premium membership month-to-month charge to get began.
There are cheaper membership choices however, just like the training platform, they don’t have anything to do with Elamant’s MLM alternative.
Elamant’s Premium affiliate membership charge may be negated by recruiting and sustaining three Premium membership associates (you earn $33 a month per Premium affiliate recruited, capped at three associates).
From there it’s the identical Ponzi returns seen in Elamant’s unique compensation plan:
- Guide (keep three personally recruited Premium associates and have a downline of 12 associates) – $100 per week ROI
- Senior Guide (personally recruit and keep 4 Premium associates and have a downline of 40 associates) – $180 per week ROI
- Govt Guide (personally recruit and keep 5 Premium associates and have a downline of 80 associates) – $280 per week ROI
- Supervisor (personally recruit and keep 5 Premium associates and have a downline of 150 associates) – $720 per week ROI
- Senior Supervisor (keep 5 personally recruited Premium associates and have a downline of 300 associates) – $1200 per week ROI
- Govt Supervisor (keep 5 personally recruited Premium associates and have a downline of 500 associates) – $1530 per week ROI
- Director (keep 5 personally recruited Premium associates and have a downline of 750 associates) – $1800 per week ROI
- Senior Director (keep 5 personally recruited Premium associates and have a downline of 1000 associates) – $2300 per week ROI
- Govt Director (keep 5 personally recruited Premium associates and have a downline of 2000 associates) – $3300 per week ROI
- Wooden Govt (personally recruit and keep six Premium associates and have a downline of 4000 associates) – $4800 per week ROI
- Fireplace Govt (personally recruit and keep seven Premium associates and have a downline of 6000 associates) – $7000 per week ROI
- Earth Govt (personally recruit and keep eight Premium associates and have a downline of 8000 associates) – $9000 per week ROI
- Steel Govt (keep eight personally recruited Premium associates and have a downline of 16,000 associates) – $12,250 per week ROI
- Water Govt (keep eight personally recruited Premium associates and have a downline of 30,000 associates) – $18,000 per week ROI
- Elamant Govt (keep eight personally recruited Premium associates and have a downline of fifty,000 associates) – $38,462 per week ROI
Notice that to satisfy downline targets;
- not more than 50% of a recruitment leg is counted for Consultants and Senior Consultants
- not more than 40% of a recruitment leg is counted for Govt Guide via Senior Supervisor
- not more than 30% of a recruitment leg is counted for Govt Supervisor via Govt Director
- not more than 25% of a recruitment leg is counted for Wooden Govt via Earth Govt
- not more than 20% of a recruitment leg is counted for Steel and Water Executives
- not more than 15% of a recruitment leg is counted for Elamant Executives
A recruitment leg is created every time a brand new Premium affiliate is recruited.
Elamant tracks downlines by way of a unilevel compensation construction.
A unilevel compensation construction locations an affiliate on the prime of a unilevel crew, with each personally recruited affiliate positioned instantly underneath them (stage 1):
If any stage 1 associates recruit new associates, they’re positioned on stage 2 of the unique affiliate’s unilevel crew.
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.
Whereas Elamant’s unique ruse was “we’re promoting your receipts for large cash”, now it’s “getting our associates to do work”.
What work precisely?
Ah nicely, you see… Elamant aren’t clear on that.
Supposedly Elamant has its associates carry out
help, training, on-line or offline coaching, or different useful providers to Elamant Group Members.
Evidently no matter busybody work Elamant does or doesn’t have its associates carry out, returns are clearly paid out of subsequent $99 a month investments.
As with the Saivian receipts mannequin, there is no such thing as a exterior income being generated.
Elamant’s affiliate ranks and promised returns are equivalent to the collapsed “give us your receipts” ruse.
The SEC sued Saivian and proprietor Eric J. Dalius in November 2018. Ryan Evans was added as a defendant in October 2019.
The SEC allege Saivian was a $165+ million greenback Ponzi scheme.
A trial was initially scheduled for March 2021, nevertheless COVID-19 noticed that pushed again to November.
Our final replace from just a few weeks in the past was noting the case had been despatched to mediation.
We’ll proceed to watch the case. Within the meantime what you wish to take away Ryan Evans is a defendant in a US regulatory case.
Regardless of that he continues to rip-off victims by way of the identical conduct exterior of the US.
No matter how onerous the SEC wind up skewering Evans, this gained’t finish nicely for buyers dumb sufficient to fall for a similar rip-off twice.
Replace 2nd June 2023 – Elamant’s official YouTube channel has been closed. This implies the cited Might ninth Elamant advertising and marketing video on this evaluate is not accessible.
The evaluate initially contained a hyperlink to the evaluate, which I’ve now disabled.
I consider Ryan Evans could have closed Elamant’s YouTube channel as a part of a Saivian fraud settlement reached with the SEC on Might thirty first.