In early June GSPartners started circulating promotional materials for a brand new real-estate themed Ponzi scheme.
JONE tokens have been supposedly tied to bodily real-estate within the J One Towers, an condominium complicated in Dubai.
Earlier than GSPartners might make any massive bulletins at their Dubai occasion later within the month, the developer behind J One Towers got here out and denied having something to do with GSPartners or Josip Heit.
This halted promotion of JONE tokens of their tracks. With GSPartners’ Dubai occasion going forward as scheduled, it additionally raised the query of what could be revealed.
Rather than JONE tokens and the J One Towers ruse, GSPartners has discovered a brand new developer to companion with.
Cue the launch of XLT tokens.
To appreciate their Dubai real-estate themed shitcoin Ponzi scheme, GSPartners’ new companion in crime is Pushed Properties.
Pushed Properties is run by founder and Managing Director Abdullah Alajaji.
Supposedly the deal between the businesses will see 200 Movenpick Accommodations and Flats Dubai models tied to XLT token funding.
Earlier than he was minimize off by Heit, Alajaji spoke briefly concerning the “Movenpick Accommodations and Residents” scheme at GSPartners’ current Dubai occasion.
The official advertising identify for GSPartners’ XLT real-estate scheme is “Movenpick Unique Residing G999”.
Outdoors of letting GSPartners use their models by Pushed Properties, Movenpick seems to in any other case be a professional condominium and resort operator.
Except there’s a secret growth Movenpick hasn’t made public, their solely presence in Dubai appears to be Movenpick Resort & Flats Bur Dubai.
The event options “312 rooms, suites and resort flats”.
The ruse is XLT tokens are tied to floor-space. When the flats are rented out, a few of that income is paid again as a return to XLT token holders with tokens tied to that condominium.
Apparently sufficient I used to be in a position to tie Pushed Properties to J One Towers:
I wasn’t in a position to affirm Pushed Properties was concerned within the bungled GSPartners J One Towers deal.
It’s not out of the realm of risk that GSPartners and Pushed Properties labored collectively to arrange the JONE token Ponzi scheme, unbeknownst to J One Towers’ developer, RKM Durar Properties.
Whether or not Movenpick know certainly one of their properties has been hooked up to GSPartners’ Ponzi scheme by Pushed Properties is unclear.
If Movenpick are conscious and don’t care, one clarification might be their present monetary state of affairs.
COVID-19 not withstanding, issues have to be fairly dire for a corporation working a number of resorts all over the world to get in mattress with a Ponzi scheme.
Movenpick was purchased by Paris-based Accor Group in 2018.
Courtesy of Statista, right here’s Accor Group’s income chart as much as 2020.
Keep in mind Accor Group is a big firm. I wasn’t in a position to set up what share of that income was attributable to Movenpick’s Dubai enterprise.
Contemplating Dubai primarily depends on tourism, this isn’t shocking.
Lease 200 in any other case unoccupied models to GSPartners for an upfront charge and small share of collected charges, and hope no person outdoors of the MLM Ponzi world notices.
That appears to be the game-plan right here.
GSPartners will manipulate the worth of XLT tokens as the corporate dumps them onto associates over the approaching months.
There are three phases of XLT token value manipulation. The primary part lasts for 70 days. Particulars of the second and third phases haven’t been made public.
This manipulation is to make sure XLT doesn’t instantly plummet to $0 like G999 tokens have.
With a manipulated worth for a minimum of 70 days, advertising efforts to encourage XLT token funding gained’t be interfered with.
Properly, supplied potential traders don’t do any due-diligence on GSPartners and the rip-off up to now.
Along with direct funding, GSPartners may park 500,000 or extra G999 tokens with the corporate.
Doing it will stop G999 coin holders from promoting the tokens for 2 years.
In trade for not promoting, GSPartners will reward these associates with XLT and LL tokens (see beneath).
Along with the XLT Ponzi scheme, GSPartners can also be launching Lydian Lions.
Lydian Lyons (LL) are one other inside GSPartners token, used to take part in Lydian World, an NFT digital world Ponzi scheme.
You may see the public-facing model of Lydian World over at “lydian.world”.
Participation within the Lydian World funding scheme prices 2500 LL.
Notice that how a lot LL is required to spend money on a rustic place will not be disclosed to the general public. To see that info you want to by way of Lydian World from a GSPartners affiliate backoffice.
The essential gist of this Ponzi scheme is you pay your 2500 LL entry charge, make investments extra LL in a rustic place, await GSPartners to govern how a lot your funding place is price and money out.
GSPartners solicits funding in its varied Ponzi tokens in bitcoin, ethereum and tether.
GSPartners will not be registered to supply securities in any jurisdiction it solicits funding in. The corporate operates illegally the world over.
In what could also be a response to growing regulatory scrutiny, GSPartners has launched a $49 annual pseudo-compliance affiliate charge.
That is an try and differentiate affiliate traders from GSPartners’ non-existent retail traders.
Associates who don’t pay the $49 charge, which is backdated to anybody who signed up in 2020, are blocked from incomes commissions.
The rationale GSPartners’ new charge is pseudo-compliance is as a result of charging $49 to take part in an MLM Ponzi scheme nonetheless means you’re working a Ponzi scheme.
The one efficient change is gate-keeping pyramid scheme commissions behind an annual paywall.
Oh and no matter $49 multiplied by what number of associates pay the charge involves, will little doubt assist GSPartners delay its inevitable collapse for some time.
Intimidation lawsuits filed in South Africa in Might declare funding into GSPartners’s G999 has slumped 60% all through 2021.
After a short anemic pump throughout GSPartners’ late June Dubai occasion, G999 has dumped again all the way down to its typical close to nugatory worth.
As I write this G999 is publicly buying and selling at $0.00516, slowly dumping all the way down to its historic low of $0.002928.
GSPartners opts to function illegally all over the world ,as a result of registering with monetary regulators and offering audited monetary experiences would affirm it’s a Ponzi scheme.
BehindMLM has reached out to Movenpick with the next enquiry:
Hello,
I’m Oz, creator of BehindMLM.
As a part of our ongoing analysis and protection of Josip Heit’s G999 Ponzi scheme, we’ve discovered Movenpicks’s Dubai resort and condominium constructing is getting used to advertise GSPartners’ XLT token Ponzi scheme.
Is Movenpick conscious of this? If not, do you’ve gotten any plans to deal with being a part of an organization committing securities fraud all over the world?
In that case, why is Movenpick comfy with its identify and model being related to securities fraud?
I await your reply by way of e mail, thanks.
-Oz
I’ve obtained affirmation that my e mail has been obtained by Accor Group. I’ll replace if we hear something again.
Replace tenth July 2021 – Accor Group has responded to our e mail.
They state that the developer tied to Movenpick Accommodations and Flats in Dubai has been despatched a stop and desist.