Ormeus World emerged as a faceless agency in mid 2017.
In our printed Ormeus World evaluation, our evaluation revealed the company was John Barksdale leaping on the MLM cryptocurrency bandwagon.
Ormeus World had no retailable companies or merchandise. Its associates invested funds into B2X89, a “bot supplier” that Ormeus World marketed a 160% ROI by way of.
Considerably than operate legally, Barksdale chosen to market Ormeus World in worldwide areas with decrease than diligent regulation.
Globally Ormeus World certainly not registered its passive ROI shopping for and promoting bot various with securities regulators.
At most interesting Ormeus World was an illegal unregistered securities offering.
At worst Ormeus World was an illegal Ponzi scheme that, each in full or partly, recycled invested funds to fulfill marketed 160% ROI liabilities.
As is typical of MLM cryptocurrency companies, Ormeus World launched its private exit-scam ICO.
Ormeus Coin (ORME) initially launched as Ponzi components.
Ormeus World associates invested ORME, at regardless of inside price the company had set on the time.
ROI withdrawal requests had been submitted by way of Ormeus World’s inside alternate, which the company honored with subsequently invested funds.
I think about ORME was moreover tied to the shopping for and promoting bot, allowing Ormeus World to pay imaginary returns with ORME they generated at little to no worth.
Ormeus World associates within the meantime had been working spherical touting annual returns of 4300% by way of ORME funding.
The ultimate a part of Ormeus World’s exit-scam in late September 2017.
On or spherical September thirtieth, Ormeus Coin debuted on public exchanges.
After a brief pump to $5.19 in November 2017, ORME began to dump as decided Ormeus World associates tried to recoup their losses.
As ORME’s public value approached a buck, Barksdale washed himself of Ormeus World and launched IQ Chain.
IQ Chain continued the B2X89 shopping for and promoting bot facade and launched Ormeus Cash and ORV.
Ormeus Cash and ORV had been a return to Ponzi components, which Barksdale retained full administration over and set inside values for.
Ormeus Cash was paid out when Ormeus World associates parked their ORME with the company.
ORV was distributed by way of “coin distribution contracts” soliciting funding portions of as a lot as $250,000.
The supposed affect of IQ Chain was to halt the selling off of ORME.
It flopped and after a minor spike in curiosity, IQ Chain adopted Ormeus World and went into decline.
By this stage ORME’s public value had collapsed to mere cents. In the meanwhile ORME is publicly valued at 6.8 cents.
The standing and inside value of Ormeus Cash and ORV components are unknown.
Corresponding with a second spike in website guests to the IQ Chain web page, in October it emerged Barksdale had enlisted the suppliers of Organo Gold’s Holton Buggs.
Naturally this raised questions as as as to whether Organo Gold had teamed up with Barksdale to get into cryptocurrency.
Organo Gold had been quick to answer, with a marketing consultant from the company stating ‘un-equivocally, OG wants NOTHING to do with crypto currencies‘.
Nonetheless Buggs has retained his Chief Visionary Officer operate at Organo Gold, whereas concurrently strengthening his involvement in IQ Chain.
This has little doubt triggered inside friction between the occasions involved. Publicly Buggs partnership with Barksdale and IQ Chain has led to a minimal of 1 PR disaster.
With the Ormeus World and IQ Chain producers associated to widespread investor losses, Barksdale has renamed his agency for a third time.
IQ Legacy was launched a few month or so prior to now, and is being disingenuously promoted as an entirely new agency.
In violation of securities regulation in any jurisdiction securities are regulated, there isn’t any such factor as a disclosure of Ormeus World’s and Barksdale’s historic previous on the IQ Legacy web page.
As for what IQ Legacy is offering, further securities violations are evident with the continued promotion of the B2X89 shopping for and promoting bot (now rebranded as IQ Bot);
IQ Bot allows you to leverage an automated shopping for and promoting software program that certainly not sleeps.
Prepare iQ bot, hyperlink it your accounts on certainly one of many obtainable cryptocurrency exchanges, set the parameters, and let iQ bot commerce for you.
You retain full administration of your money whereas iQ bot works for you.
Automated shopping for and promoting has certainly not been very easy!
IQ Legacy fails to disclose explicit particulars of the bot to potential merchants, along with earlier audited outcomes.
Which is important, seeing as Barksdale first launched the Ormeus World bot roughly a yr and a half prior to now.
Curiously, whereas Organo Gold has vehemently denied any curiosity in coming into the MLM cryptocurrency space of curiosity by way of IQ Chain, its emblem is getting used to promote IQ Legacy.
The above is taken from a December ninth video that was printed to the official IQ Legacy YouTube channel.
The host of presentation video signifies that Organo Gold’s “belongings” will most likely be used to pump value into ORME.
[13:45] What’s Organo’s operate in all of this?
Successfully Organo has a strategic co-op-etition relationship with Ormeus and Digital Skynet, the place there’s an alternate of belongings.
There’s a co-leveraging, or a cooperative leveraging of belongings that type of helps out each other.
One in every of many points (the connection) does is it permits Organo to produce digital foreign exchange as part of its reward system, in alternate for leveraging a couple of of its real-world belongings to help improve the price of the money that Ormeus and Digital Skynet are bringing to {{the marketplace}}.
For reference, Digital Skynet is the guardian agency Barksdale makes use of to insulate himself from his quite a few failed MLM ventures.
We’ve reached out to Organo Gold firm for a response to IQ Legacy’s claims. Notably the suggestion Organo Gold’s belongings will most likely be used to prop up IQ Legacy’s digital foreign exchange decisions.
We’re moreover curious as to why Organo Gold is partnering with a corporation seemingly devoted to securities fraud.
As I write this the Alexa cite the US because the one vital provide of website guests to the IQ Legacy web page (71%).
Pseudo-compliance “we don’t market throughout the US” or no, IQ Legacy is being promoted all through the US and is soliciting funding from US residents.
On the time of publication neither John Barksdale, Ormeus World, IQ Chain, IQ Legacy or Holton Buggs are registered to produce securities all through the US (or wherever on the earth for that matter).
On the compensation plan aspect of points, it doesn’t appear so much has modified between IQ Chain and IQ Legacy.
There’s after all of the automated returns paid by way of the supposed AI bot, although specifics aren’t disclosed on the IQ Legacy web page.
One addition appears to be promotion of a level of sale tied to IQ Legacy, by way of which funds in cryptocurrency can supposedly be made.
As soon as extra, particulars of this, along with which cryptocurrencies will most likely be accepted (solely ORME?), aren’t provided on the IQ Legacy web page.
What we do know is IQ Legacy affiliate membership is $99 a month (commissionable) plus the acquisition of a a Bronze, Silver, Gold or Platinum pack.
Notably, IQ Legacy are solely accepting bitcoin from associates (what, I can’t pay in ORME?).
- the Bronze pack costs $500 in bitcoin, permits an affiliate to take a position as a lot as $5000 with the shopping for and promoting bot and pays an 8% residual price price
- the Silver pack costs $1500 in bitcoin, permits an affiliate to take a position as a lot as $50,000 with the shopping for and promoting bot and pays a 9% residual price price
- the Gold pack costs $5000 in bitcoin, permits an affiliate to take a position as a lot as $200,000 with the shopping for and promoting bot and pays a ten% residual price price
- the Platinum pack costs $10,000 in bitcoin, permits an affiliate to take a position an unlimited amount of funds with the shopping for and promoting bot and pays a 12% residual price price
Residual commissions are paid out by means of a binary compensation development.
Through quite a few ranks, an IQ Legacy affiliate is able to improve their residual price price to fifteen%, capped at $175,000 each week.
Retail shopping for and promoting bot entry is outwardly doable nonetheless no particulars are provided on the IQ Legacy web page.
Recruitment commissions are paid on bundle purchases by newly recruited associates, providing an extra pyramid layer to the scheme.
I say that because of neither Ormeus World or IQ Chain managed to generate any vital retail purchaser curiosity.
IQ Legacy being not so much fully totally different will seemingly show the equivalent.
Together with the regulatory purple flags we’ve already lined, IQ Legacy have moreover utilized “pay to play” by tying residual price fees to how so much a model new affiliate pays as soon as they be a part of.
I moreover want to drive home IQ Legacy’s use of bitcoin. When you sign as a lot as IQ Legacy your solely selection is to pay in bitcoin.
IQ Legacy doesn’t accept ORME, Ormeus Cash or ORV components, which is telling of their exact worth.
IQ Legacy moreover solely pay out commissions in bitcoin.
This bypasses banking and securities guidelines, efficiently allowing IQ Legacy to fly beneath the radar till it’s almost definitely too late.
Speaking of which, if IQ Legacy follows Ormeus World and IQ Legacy, associates can don’t have any recourse to recuperate their losses.
By the purpose regulators get entangled funds paid to IQ Legacy can have been laundered who’s conscious of the place (in violation of securities and financial guidelines globally).
Given how Ormeus World and IQ Chain turned out, I can’t understate the significance of IQ Legacy solely accepting and paying out bitcoin.
If I can break down IQ Legacy into its best sort; you’re paying to spend cash on a bot that has no provided verifiable outcomes (required to be disclosed for compliance), whatever the bot initially launching ultimate yr.
Retail is possible nonetheless given all the lack of retail curiosity in Ormeus World and IQ Chain, IQ Legacy associates are going to be primarily paid to recruit new associates.
John Barksdale began his MLM cryptocurrency journey spherical eighteen months prior to now.
Through repeated failures which have primarily revolved spherical illegal securities offering, Barksdale has constructed a veritable residence of taking part in playing cards.
One regulatory cease and desist or subpoena for information, and all of it comes crashing down.
Change 18th December 2018 – Organo Gold firm have responded to IQ Legacy’s use of their emblem and branding by stating ‘IQ should not be using any IP of OG‘.
Maintain tuned for any further developments.