Prance Gold operates within the cryptocurrency MLM area of interest.
The corporate claims it’s headed up by founder and CEO Andre Gerald.
In Prance Gold’s advertising movies, Gerald is performed by this particular person:
Should you take note of the actor’s eyes, you may clearly see him studying off a script.
Andre Gerald doesn’t exist exterior of Prance Gold’s advertising materials, making him a great Boris CEO candidate.
The actor taking part in Gerald has a US accent. The actor taking part in Jacob Coulsen, supposedly Prance Gold’s COO, has a British accent.
Given the hard-coded Chinese language subtitles, it’s extremely doubtless these two males are actors picked up in Asia someplace.
It’s additionally price noting Prance Gold’s advertising movies had been uploaded in 360p. This means they had been shot on a mobile phone.
Not likely what you’d count on for professional company movies.
Prance Gold operates two web sites, “prancegoldholdings.com” and “prance.gold”.
The previous area was privately registered in Could 2019. The latter was privately registered in February 2020.
It’s price noting the Prance Gold Holdings area registration was final up to date in February 2020. The corporate’s web sites went dwell in March 2020, suggesting the holdings area was acquired in February 2020.
The Prance Gold web site is focused at Japanese guests and defaults to Japanese. On the positioning an incorporation certificates for “Prance Gold Holdings Restricted” in Seychelles is supplied.
Given the excessive likelihood of this being a shell firm, with respect to due-diligence this certificates is meaningless.
Given Prance Gold seems focused at a Japanese viewers, it’s not stunning that Japan represents 90% of site visitors to Prance Gold Holdings’ web site (Alexa).
Curiously, “prance.gold” doesn’t have sufficient site visitors to be tracked through Alexa.
As all the time, if an MLM firm will not be brazenly upfront about who’s working or owns it, assume lengthy and laborious about becoming a member of and/or handing over any cash.
Prance Gold’s Merchandise
Prance Gold has no retailable services or products, with associates solely in a position to market Prance Gold affiliate membership itself.
Prance Gold’s Compensation Plan
Prance Gold associates make investments $1000 or extra in USD, bitcoin or tether, on the promise of marketed returns:
- make investments $1000 to $4999 and obtain a 300% ROI
- make investments $5000 to $9999 and obtain a 400% ROI
- make investments $10,000 to $29,999 and obtain a 500% ROI
- make investments $30,000 or extra and obtain a 600% ROI
Prance Gold pays as much as 0.9% a day, via a convoluted “you have to make investments at sure instances” system.
Associates are given three 8 hour time intervals they need to manually login and click on some buttons to generate each day returns.
Notice that this course of could be automated for a ten% deposit charge.
Whereas USD is accepted for funding, Prance Gold solely pays returns and commissions in thether.
- if an affiliate needs to attend three days for withdrawal Prance Gold expenses a 5% charge
- if an affiliate needs to attend eight days for withdrawal Prance Gold expenses a 3% charge
Residual Commissions
Prance Gold pays residual commissions through a unilevel compensation construction.
A unilevel compensation construction locations an affiliate on the high of a unilevel staff, with each personally recruited affiliate positioned straight beneath them (degree 1):
If any degree 1 associates recruit new associates, they’re positioned on degree 2 of the unique affiliate’s unilevel staff.
If any degree 2 associates recruit new associates, they’re positioned on degree 3 and so forth and so forth down a theoretical infinite variety of ranges.
Prance Gold caps payable unilevel staff ranges at twenty-five.
- recruit one affiliate and earn residual commissions throughout three unilevel staff ranges
- recruit two associates and earn residual commissions throughout 5 unilevel staff ranges
- recruit three associates and earn residual commissions throughout ten unilevel staff ranges
- recruit 4 associates and earn residual commissions throughout fifteen unilevel staff ranges
- recruit 5 associates and earn residual commissions throughout twenty unilevel staff ranges
- recruit six associates and earn residual commissions throughout twenty-five unilevel staff ranges
Notice that as a way to rely in direction of the above qualification standards, recruited associates will need to have invested.
Residual fee charges throughout twenty-five unilevel staff ranges are based mostly on how a lot a Prance Gold affiliate has invested:
- make investments $1000 to $2999 and obtain 8% on degree 1 (personally recruited associates), 6% on degree 2, 4% on degree 3, 2% on ranges 4 to six, 1% on ranges 7 to 10, 0.6% on ranges 11 to 19 and 0.4% on ranges 20 to 25
- make investments $3000 to $4999 and obtain 12% on degree 1, 9% on degree 2, 6% on degree 3, 3% on ranges 4 to six, 1.5% on ranges 7 to 10, 0.9% on ranges 11 to 19 and 0.6% on ranges 20 to 25
- make investments $5000 to $9999 and obtain 16% on degree 1, 12% on degree 2, 8% on degree 3, 4% on ranges 4 to six, 2% on ranges 7 to 10, 1.2% on ranges 11 to 19 and 0.8% on ranges 20 to 25
- make investments $10,000 to $29,999 and obtain 20% on degree 1, 15% on degree 2, 10% on degree 3, 5% on ranges 4 to six, 2.5% on ranges 7 to 10, 1.5% on ranges 11 to 19 and 1% on ranges 20 to 25
- make investments $30,000 or extra and obtain 24% on degree 1, 18% on degree 2, 12% on degree 3, 6% on ranges 4 to six, 3% on ranges 7 to 10, 1.8% on ranges 11 to 19 and 1.2% on ranges 20 to 25
Month-to-month New Market Growth Bonus Scheme
The Month-to-month New Market Growth Bonus Scheme (MNMDBS) rewards Prance Gold associates for producing downline funding.
- generate $10,000 in new funding quantity throughout three unilevel staff legs ($30,000 complete) and obtain $1200
- generate $30,000 in new funding quantity throughout three unilevel staff legs ($90,000 complete) and obtain $3600
- generate $100,000 in new funding quantity throughout three unilevel staff legs ($300,000 complete) and obtain $12,000
- generate $300,000 in new funding quantity throughout three unilevel staff legs ($900,000 complete) and obtain $45,000
- generate $500,000 in new funding quantity throughout three unilevel staff legs ($1,500,000 complete) and obtain $75,000
- generate $1,000,000 in new funding quantity throughout three unilevel staff legs ($3,000,000 complete) and obtain $150,000
Notice that NNMDBS qualification standards resets each month.
Rank Rewards
There are 5 affiliate ranks inside Prance Gold’s compensation plan.
Prance Gold rewards associates for qualifying at every rank as follows:
- Baron (generate three unilevel staff legs with $30,000 funding quantity in every leg) – 2% ROI bonus
- Viscount (have three Barons in your downline) – 4% ROI bonus
- Earl (have three Viscounts in your downline) – 6% ROI bonus
- Marquis (have 4 Earls in your downline) – 8% ROI bonus
- Duke (have 4 Marquis’ in your downline) – 10% ROI bonus
Though not clarified, I imagine these ROI bonuses are tacked onto the top of standard contracts.
Becoming a member of Prance Gold
Prance Gold affiliate membership is free.
Participation within the hooked up earnings alternative nonetheless is tied to a minimal $1000 funding in USD, bitcoin or tether.
Conclusion
Given the awkward firm title and official advertising channels utilizing Japanese, it’s apparent whoever is definitely working Prance Gold is fluent in Japanese.
Whether or not this implies Prance Gold is being operated from Japan is unclear. What is evident is that the majority of Prance Gold’s funding quantity is at present popping out of Japan.
Prance Gold represents it generates ROI income through cryptocurrency arbitrage.
No proof of buying and selling income being truly used to pay associates is supplied.
Being a passive funding scheme, Prance Gold’s MLM alternative constitutes a securities providing.
Prance Gold gives no proof it has registered with Japan’s Securities and Alternate Surveillance Fee, or a monetary regulator in another nation.
This implies, regardless of anything, Prance Gold is working illegally the world over.
The explanation Prance Gold doesn’t register with monetary regulators and supply legally required audited accounting stories, is as a result of the corporate operates as a Ponzi scheme.
New funding is used to pay present buyers, with the scheme collapsing as soon as withdrawals exceed the speed of recent funding.
The mathematics behind Ponzi schemes ensures that after they collapse, the vast majority of buyers lose cash.
Replace sixteenth October 2020 – Prance Gold Holdings has collapsed.
The corporate has ceased paying withdrawal requests, claiming its accounts held at numerous cryptocurrency exchanges have been frozen.