Auvoria Prime is the third try and promote use of a non-profitable buying and selling bot to gullible victims.
The scheme began as SilverStar Reside, which led to a $75,000 CFTC fraud settlement.
Co-owners Hassan Mahmoud and Candace Ross-Mahmoud then rebooted the scheme as Eaconomy.
Final month Eaconomy collapsed, amid bickering between the scammers working the present.
Auvoria Prime surfaced shortly after Eaconomy’s collapse, headed up by Chief Community Officer Sal Leto.
Auvoria Prime’s launch prompted a lawsuit from Eaconomy, filed in California on March twenty third.
Sal Leto (proper) was Eaconomy’s Vice President of Operations.
Previous to Eaconomy, Leto is greatest recognized for spearheading makes an attempt to market the OneCoin Ponzi scheme within the US.
When that failed Leto switched to iPro Community. iPro Community was just lately sued by the SEC for being a $26 million greenback pyramid scheme.
Right here’s a run down of the remainder of Aurovria Prime’s executives:
- Joshua Phair is Auvoria Prime’s Chief Monetary Officer, introduced on as an Eaconomy guide in July 2019
- Invoice Wynne is Auvoria Prime’s Chief Expertise Officer, previously Eaconomy’s Chief Expertise Officer
- Vanessa Leto (aka Rosario Lopez) is Auvoria Prime’s Company Director, she’s Sal Leto’s spouse and evidently accomplice in crime
One other identify that stood out to me was Mariska van de Langenberg, hilariously credited as Auvoria Prime’s Director of Compliance.
Van de Langenberg is one other Eaconomy recruit. We first got here throughout Van de Langenberg as CEO of 5 Star Alerts again in 2015.
5 Star Alerts, a pyramid scheme masquerading as an MLM buying and selling alternative, was issued a securities fraud non-compliance high quality by the Netherland’s AMF.
In July 2016 5 Star Alerts collapsed, amidst claims of $180,000 in commissions being stolen. Whole investor losses stay unknown.
Yeah, among the of us behind Auvoria Prime have been at this for some time.
Learn on for a full overview of Auvoria Prime’s MLM alternative.
Auvoria Prime’s Merchandise
Auvoria Prime sells entry to automated returns and buying and selling indicators.
- Ainstein Package deal – $267 for entry to an automatic passive returns platform, then $189 a month
- Alexander Package deal – $267 for entry to buying and selling indicators
Bundled with every bundle is a “digital assistant” cellular app and “foreign exchange training program”.
Extra stand-alone merchandise embrace:
- Airis – indicators based mostly on foreign exchange chart evaluation for $39 a month
- Hailey – “A.I. pattern scalping commerce software program”, marked “coming quickly” on Auvoria Prime’s web site however listed for $129 within the compensation plan
Auvoria Prime’s Compensation Plan
Auvoria Prime associates are pressured to keep up an Ainstein and/or Alexander subscription.
Commissions are paid once they promote subscriptions to retail clients and/or recruited associates.
Fee Qualification
To qualify for MLM commissions, every Auvoria Prime affiliate should
- keep their very own Ainstein or Alexander bundle subscription
- promote three packages to retail clients and/or recruited associates (three lively packages should be maintained)
Retail and Recruitment Commissions
Auvoria Prime pays retail and recruitment commissions on the sale of Ainstein and Alexander packages to retail clients and recruited associates respectively.
- sale of an Ainstein or Alexander bundle = $40 fee
- sale of Airis doesn’t generate a fee
- sale of Hailey = $20 fee
Momentum Builder Bonus
The Momentum Builder Bonus rewards Auvoria Prime associates for brand new gross sales exercise every week.
Promoting Auvoria Prime merchandise to retail clients or recruited associates generates gross sales quantity (PV).
- Ainstein and Alexander packages generate 140 PV
- Hailey generates 70 PV
- whether or not Airis generates PV in the direction of the Momentum Builder Bonus will not be clarified
A minimal of 420 PV from new buyer/affiliate exercise for the week is required to qualify for the Momentum Builder Bonus.
Be aware that actual gross sales quantity quantities for every Auvoria Prime product will not be offered.
On the finish of the week Auvoria Prime tallies up every affiliate’s new exercise gross sales quantity.
Primarily based on generated PV, the next shares are allotted:
- 420 PV = 1 share
- 840 PV = 2 shares
- 1120 PV = 3 shares
- 1260 PV = 4 shares
- 1400 PV = 5 shares
The shares correspond to a bonus pool, made up of an undisclosed share of Auvoria Prime’s gross sales income.
Residual Commissions
Auvoria Prime pay weekly residual commissions based mostly on rank.
There are eleven ranks inside Auvoria Prime’s compensation plan.
Together with their weekly respective qualification standards, they’re as follows:
- Energetic Affiliate – generate and keep 140 GV a month (31 days)
- Visionary – generate and keep 560 PV a month
- Visionary 600 – recruit and keep 4 associates and generate 13 Qualifying Group Factors (min 4 factors in 4 unilevel staff legs)
- Visionary 1500 – keep 4 personally recruited associates and generate 35 Qualifying Group Factors
- Icon 3000 – recruit and keep 5 associates and generate 90 Qualifying Group Factors
- Icon 5000 – recruit and keep six associates and generate 250 Qualifying Group Factors
- Icon 10,000 – keep six personally recruited associates and generate 500 Qualifying Group Factors
- Auvorian 25K – recruit and keep seven associates and generate 1250 Qualifying Group Factors
- Auvorian 50K – recruit and keep eight associates and generate 2500 Qualifying Group Factors
- Auvorian 100K – recruit and keep 9 associates and generate 5000 Qualifying Group Factors
- Auvorian Legend – recruit and keep ten associates and generate 15,000 Qualifying Group Factors
In the event you’re questioning what “Qualifying Group Factors” are, I don’t know both. Auvorian Prime doesn’t outline them of their compensation plan, they usually’re solely talked about within the rank qualification standards.
My guess is Qualifying Group Factors are some discount of GV (gross sales quantity), into an easier level worth.
Qualifying Group Factors exclude an affiliate’s personal buy and seem to solely rely that of personally referred retail clients and recruited associates.
Within the qualification standards above, it’s assumed recruited associates are fee certified.
Be aware that required Qualifying Group Factors from Visionary 1500 are capped at 40% from anybody unilevel staff leg.
A unilevel staff is a compensation construction whereby these you recruit/refer are positioned instantly below you on degree 1:
These they recruit are positioned in your degree 2 and so forth and so forth.
Primarily based on the above rank qualification standards, weekly residual commissions paid out are as follows:
- Visionary – $40
- Visionary 600 – $150
- Visionary 1500 – $375
- Icon 3000 – $750
- Icon 5000 – $1250
- Icon 10,000 – $2500
- Auvorian 25K – $6250
- Auvorian 50K – $12,500
- Auvorian 100K – $25,000
- Auvorian Legend – $62,500
Becoming a member of Auvoria Prime
Auvoria Prime affiliate membership is tied to the acquisition of Ainstein or Alexander.
- Ainstein affiliate bundle – $299 after which $199 a month
- Alexander affiliate bundle – $299 after which $199 a month
Retail clients may also improve for $30 after which $19 a month (on high of their Ainstein or Alexander bundle charges.
Conclusion
Along with the fraud riddled previous of Auvoria Prime’s administration, the evident pink flag with their providing is US exclusion:
Any time an MLM firm excludes the US from a authorized services or products, it’s an excellent signal they’re as much as no good.
On this occasion, Auvoria Prime enjoying coy with US regulators will be traced again to SilverStar Reside’s CFTC high quality.
SilverStar Reside was fined as a result of it
acted as commodity buying and selling advisors (“CTAs”) with out being registered with the Fee as such, by exercising discretionary buying and selling authority over the foreign currency trading accounts of U.S. clients who weren’t eligible contract contributors (“ECPs”).
To be clear, if an organization registers with the CFTC and supplies it and the general public with legally required disclosures, there’s nothing unlawful about buying and selling on behalf of US clients.
Somewhat than register with the CFTC and function legally nevertheless, Auvoria Prime have opted for pseudo-compliance.
I say this as a result of it’s obviously apparent that almost all of Auvoria Prime’s executives, together with Sal Leto, are based mostly out of the US.
Leaving the US for a second, it’s price stating that unlicensed auto buying and selling can be unlawful in each nation the place buying and selling markets are regulated.
Which is just about each nation with a longtime economic system.
Auvoria Prime’s idiotically named Ainstein service additionally constitutes a securities providing. Once more not unlawful within the US and elsewhere on the earth, offered you register with monetary regulators.
One thing Auvoria Prime is detest to do.
Ban the US (*winkwink VPN nudgenudge*), and roll the cube on worldwide regulators not bothering to return after us… till it’s too late for our buyers.
Registering with monetary regulators would require Auvoria Prime to make full disclosures about their bot, together with who coded it and previous outcomes.
That’s not going to occur for what must be apparent causes.
One factor we are able to reveal is Eaconomy’s lawsuit in opposition to Auvoria Prime suggests their digital assistant app is offered by VisiKard.
Eaconomy lumps VisiKard, Maurice Katz and Bolt Capital (a shell firm registered in Nevis), as builders of what was alleged to be their very own digital assistant app.
EACONOMY had been working carefully with VisiKard, Inc. Defendats KATZ and BOLT to develop its software program to permit its merchandise to be compliant with the legal guidelines of the US.
This software program modification included an App which was to be offered to EACONOMY’S product clients.
When accessed, this App would enable the client to make sure discretionary instructions.
EACONOMY had paid $25,000 to KATZ and roughly $165,000 to BOLT for the App and such software program enhancements.
Nevertheless, when the developed software program and App had been offered to EACONOMY it didn’t work.
On data and perception, BOLT, VisiKard, and KATZ have offered the absolutely functioning software program and App to AUVORIA PRIME and deliberately offered faulty and defective software program to EACONOMY as a part of the conspiracy to steal firm belongings and to destroy EACONOMY.
Maurice Katz labored with Sal Leto to promote the OneCoin Ponzi scheme throughout the US.
VisiKard is run by CEO Kenneth O. Lipscomb. Katz isn’t talked about on VisiKard’s web site so I’m unsure what the connection there’s.
A standard hyperlink between SilverStar Reside and Eaconomy is that recruitment took precedent over the buying and selling outcomes.
Regardless of two collapses, no person heard a peep from retail clients shedding entry to the bots.
Taking a look at Auvoria Prime, it’s fairly apparent the one individuals paying for subscriptions are going to be Eaconomy associates and whoever they’ll persuade to enroll.
As I write this Alexa cites Libya (38%), the US (18%) and Singapore (15%) as high sources of visitors to Auvoria Prime’s web site.
Put merely: the cash is in recruitment. Auvoria Prime is similar pyramid scheme wrapped in securities fraud that SilverStar Reside and Eaconomy had been.
If somebody making an attempt to recruit you into Auvoria Prime can’t present proof of getting registered with monetary regulators in your nation, run.
And when you’re within the US, know that it’s nonetheless unlawful to advertise unregistered securities to non-US residents.
Footnote: I’ve gone over Eaconomy’s grievance in opposition to Auvoria Prime.
It just about repeats what has already been disclosed within the Eaconomy collapse announcement, so I received’t be publishing a separate article.
That mentioned we will likely be monitoring the lawsuit going ahead.
On the time of publication, not one of the named defendants have responded to Eaconomy’s filed March twenty third lawsuit.
Replace seventeenth December 2020 – Eaconomy has dropped its lawsuit in opposition to Auvoria Prime.