Onyx Life-style offers no details about who owns or runs the corporate on their web site.
The Onyx Life-style web site (“onyxlifestyle.com”) was initially registered in 2016. By means of the WayBack Machine, I used to be capable of affirm that up till late 2018 at the very least, the Onyx Life-style area was accessible on the market.
The Onyx Life-style area registration was final up to date on March twenty seventh, 2019, suggesting that is when the present proprietor(s) took possession of it.
At the moment the Onyx Life-style area registration is non-public and offers no details about its proprietor.
On web page two of Onyx Life-style’s advertising and marketing overview doc, the corporate names and quotes Clif Braun (proper) as a co-founder.
On his LinkedIn profile, Braun (aka Clifton Braun) confirms his standing as an Onyx Life-style co-founder from February 2019.
5 years in the past Braun was selling Vemma as a Presidential Model Associate.
The FTC shut Vemma down for being a $200 million greenback pyramid scheme in 2015.
In 2017 Braun joined Wealth Turbines as a Grasp Subject Coach.
In June 2018 the CFTC fined Investview $150,000 for working Wealth Turbines illegally.
Upon studying of the CFTC investigation, Investview renamed Wealth Turbines to Kuvera International.
Braun continued to advertise Kuvera International however sooner or later ditched the corporate.
Up till not too long ago Braun was selling Liv, a “international way of life firm” launched by Visalus co-founders Nick Sarnicola and Blake Mallen.
Replace July twentieth 2020 – Clif Braun has been in contact to advise
I used to be employed by Onyx for my public talking abilities, I used to be by no means an officer of Onyx, after solely 90 days of being in Onyx I resigned. I wasn’t in alignment with the route the corporate was headed.
After I queried on his personal citing of himself as Onyx Life-style’s co-founder, Braun replied;
Co founder was what I used to be led to consider. Nevertheless, was by no means true and I by no means had any energy or say in something.
I felt used and resigned shortly.
As on the time of this replace, Onyx Life-style’s web site seems to have been pulled offline. /finish replace
I wasn’t capable of verify who Onyx Life-style’s different co-founders are, however did come throughout this photograph from Braun’s Fb feed (click on to enlarge):
Travis Bott particularly stands out, owing to his connection to Investview and Wealth Turbines.
As all the time, if an MLM firm isn’t overtly upfront about who’s working or owns it, suppose lengthy and exhausting about becoming a member of and/or handing over any cash.
Onyx Life-style Merchandise
Onyx Life-style has no retailable services or products, with associates solely capable of market Onyx Life-style affiliate membership itself.
Onyx Life-style associates are given entry to banking providers and “luxurious way of life providers”.
Suppliers of providers Onyx Life-style provides associates entry to isn’t disclosed.
The Onyx Life-style Compensation Plan
Onyx Life-style associates make investments bitcoin on the promise of a 120% ROI after twelve months.
Onyx Life-style funding is tracked by means of LQD8 Block positions.
What number of LQD8 Block positions an Onyx Life-style affiliate can put money into is decided by how a lot they spend in affiliate charges.
- Characteristic ($299) – capable of put money into as much as 100 lively LQD8 Block positions, max annual ROI capped at $10,000 and a couple of% withdrawal payment
- Most popular ($799) – capable of put money into as much as 250 lively LQD8 Block positions, max annual ROI capped at $50,000 and 1.5% withdrawal payment
- Elite ($1499) – capable of put money into as much as 500 lively LQD8 Block positions, max annual ROI capped at $100,000 and 1% withdrawal payment
- Black ($10,000) – capable of put money into as much as 2500 lively LQD8 Block positions, max annual ROI capped at $2,000,000 and 0.5% withdrawal payment
- Reserve ($50,000) – capable of put money into as much as 10,000 lively LQD8 Block positions, no ROI cap or withdrawal charges
Every LQD8 Block place prices $70 in bitcoin, $20 of which is an admin payment.
The ten% month-to-month return is paid solely on the $50 funding.
Recruitment Commissions
Onyx Life-style associates are paid 15% of membership charges paid by personally recruited associates.
Residual Commissions
Onyx Life-style pays residual commissions by way of a binary compensation construction.
A binary compensation construction locations an affiliate on the prime of a binary crew, cut up into two sides (left and proper):
The primary stage of the binary crew homes two positions. The second stage of the binary crew is generated by splitting these first two positions into one other two positions every (4 positions).
Subsequent ranges of the binary crew are generated as required, with every new stage housing twice as many positions because the earlier stage.
Positions within the binary crew are crammed by way of direct and oblique recruitment of associates. Notice there isn’t a restrict to how deep a binary crew can develop.
On the finish of every day Onyx Life-style tallies up new membership payment and funding quantity on each side of the binary crew.
Affiliate membership quantity is calculated at 50% of unspecified gross sales quantity membership charges generate.
Funding quantity is calculated at $20 of each $70 invested in LQD8 Block positions.
Onyx Life-style associates are paid 10% of matched quantity.
Quantity that’s paid out on is flushed, with any leftover quantity on the stronger binary crew aspect carried over.
Matching Bonus
Onyx Life-style pay a Matching Bonus on downline residual commissions.
The Matching Bonus is tracked by means 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 straight 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.
Utilizing this unilevel crew construction, Onyx Life-style pay a Matching Bonus on as much as seven generations in every unilevel crew leg.
Onyx Life-style defines a era in a leg when an Govt or larger ranked affiliate is discovered.
This affiliate caps off the primary era for that leg, with the second starting instantly after.
If no second Govt or larger ranked affiliate is discovered, the second era of the leg extends down the total depth of the leg.
If a second Govt or larger ranked affiliate exists, they cap off the second era and the third begins after them.
Utilizing this era construction, an Onyx Life-style affiliate can earn a Matching Bonus on as much as seven generations per unilevel crew leg.
Notice that Onyx Life-style don’t present rank qualification standards of their compensation plan.
International Bonus Pool
Onyx Life-style take 10% of company-wide quantity and place it into ten separate International Bonus Swimming pools.
Associates qualify for shares in these swimming pools primarily based on rank.
From the Nationwide Director rank, shares earned within the higher 5 swimming pools are retained as associates progress in rank in direction of International Ambassador.
Once more, be aware that Onyx Life-style don’t present rank qualification standards of their compensation plan.
Becoming a member of Onyx Life-style
Onyx Life-style affiliate membership is $99 or $199 yearly relying on the place you reside.
Participation within the hooked up earnings alternative is one other $299 to $50,000 after which $38 a month.
Further funding in LQD8 Block positions is $50 a place.
The extra an affiliate spends in charges the upper their earnings potential by means of Onyx Life-style’s compensation plan.
Lastly, though not explicitly clarified, I consider all funds out and in of Onyx Life-style are made and/or calculated in bitcoin.
Conclusion
Onyx Life-style markets itself with a “we’ll provide you with entry to wealthy folks stuff” shtick.
Behind that advertising and marketing pitch is a lavatory commonplace MLM crypto Ponzi scheme.
Before everything if Onyx Life-style was a reputable firm, they’d have registered themselves with monetary regulators.
Neither on their web site or of their advertising and marketing displays does Onyx Life-style symbolize it has achieved so.
On his LinkedIn profile, Braun cites his location as Utah. On his Fb profile. Braun’s Fb and Twitter profiles cite his location as California.
Both manner, it’s fairly clear Braun relies out of the US.
A test of the SEC’s Edgar database reveals neither Onyx Life-style, Clif Braun or Clifton Braun are registered to supply securities within the US.
Thus with out even entering into the specifics of Onyx Life-style’s MLM alternative, the corporate is off the bat committing securities fraud.
Onyx Life-style represents it generates LQD8 Block ROI income by means of a “liquidity micro lending platform”.
No proof of this platform exists, or some other supply of exterior income getting used to pay returns on LQD8 Block funding.
Moreover Onyx Life-style’s claims fail the Ponzi logic check.
If the corporate had entry to a platform able to legitimately producing a constant 10% month-to-month return, why share it with randoms over the web for just a few hundred {dollars}?
The one verifiable income getting into Onyx Life is new affiliate funding.
Utilizing newly invested funds to pay present associates a ten% month-to-month return makes Onyx Life-style a Ponzi scheme.
The remainder of Onyx Life-style’s compensation plan is pyramid recruitment, paid on the recruitment of recent LQD8 Block traders.
One very last thing I’ll contact on is Onyx Life-style’s “non-public banking” garbage.
The corporate markets its withdrawal system as a non-public financial institution:
Once more, if Onyx Life-style was reputable they’d haven’t any drawback naming their “established UK monetary establishment”.
Regardless of the presentation claims, Onyx Life-style’s affiliate membership playing cards are merely hooked up to a dodgy service provider, which in flip is hooked up to a cryptocurrency alternate (therefore the withdrawal charges).
Onyx Life-style swimming pools membership charges and invested funds, with all figures recorded and tracked of their backoffice.
This backoffice is tied to a cryptocurrency alternate (both a central account or a number of accounts), by means of which new funding and withdrawals are coordinated.
You stroll right into a retailer, attempt to cost one thing to your card.
The dodgy service provider that card is hooked up to verifies you will have withdrawal commissions, and the transaction goes by means of.
On the again finish both pooled crypto is transformed on the fly or (extra seemingly) simply paid out of a able to go steadiness (therefore the max annual withdrawal caps).
That is just about how each “withdraw crypto on a card” scheme works, as a result of banks themselves aren’t eager about cryptocurrency.
Such schemes work till banks begin blocking the service provider accounts. From there it’s a cat and mouse sport, till sufficient funds are tied to locked SFAR report shuttered accounts.
With respect to Onyx Life-style due-diligence, it’s not a deal breaker however fairly clearly a misrepresentation of providers provided.
Inside the context of Onyx Life-style’s better Ponzi and pyramid scheme regulatory violations, it’s definitely a minor concern.
As with all MLM Ponzi schemes, as soon as affiliate recruitment dies down so too will newly invested funds.
It will starve Onyx Life-style of ROI income, ultimately prompting a collapse.
The mathematics behind Ponzi schemes ensures that once they collapse, nearly all of individuals lose cash.
Replace nineteenth August 2019 – By means of John Paul Ramirez and International Cash Administration, Onyx Life-style has ties to the Eyeline Buying and selling and WealthBoss Ponzi schemes.