Nasgo NSG and SNP token securities fraud


ShareNode provides no information on their website about who owns or runs the enterprise.

The ShareNode website space (“sharenode.com”) was first registered once more in 2006.

The world registration was remaining updated in August 2018. Stephen Chiang is listed as a result of the proprietor, by means of a PO Subject sort out inside the US state of California.

Extra evaluation reveals Chiang (who moreover goes by “Steve Chiang” and “Steve Jiang”) and Eric Tippetts cited as a co-founders of Nasgo.

On the ShareNode website the company advises it is “powered by Nasgo”.

A press-release dated October third names James Hardy (correct) as co-founder of ShareNode.

Eric Tippets has been doing the rounds of the MLM teaching circuit for loads of years, primarily by means of his Rocket Recruitment app.

On the very least for loads of years, Nasgo appears to be Tippet’s first MLM enterprise as an govt.

Steve Chiang moreover appears to have a promoting background nevertheless is slightly extra secretive about it.

That’s from Chiang’s LinkedIn profile;

The first group I created quickly grew to develop into a 1000 member energy using each others expertise models to succeed and create the template for future success.

That group grew to develop into the quickest rising group in a US agency and with these 1000 employees quickly grew to develop into the #1 distributorship inside a 3 month interval.

Due to the generic nature of the establish, I wasn’t able to significantly pin down Chiang’s MLM earlier.

James Hardy heads up eVantage Financial, some type of insurance coverage protection primarily based income different.

Alexa statistics for the eVantage Financial website advocate it has long-since collapsed.

Be taught on for a full evaluation of the ShareNode MLM different.

ShareNode Merchandise

Nasgo markets NSG tokens, by means of which the company claims any agency can launch a blockchain, digital belongings and/or token instantly.

With NASGO, you can tokenize your group with no coding required.

Nasgo packages are pitched at third-party corporations as follows:

Nasgo Tokenize Main ($995)

  • blockchain registration on Nasgo platform
  • token topic
  • e-commerce platform (Amico) and rewards platform (VAPR)

Nasgo Tokenize Plus ($1495)

Each little factor in Tokenize Main plus a printed promoting press-release

Nasgo Tokenize Premium ($1995)

Each little factor in Tokenize Main and Plus, plus a “hottest itemizing on ShareNode Enterprise Itemizing”.

The ShareNode Compensation Plan

ShareNode associates get hold of commissions after they promote Nasgo’s “Tokenize” packages.

Commissions are paid out in SNG, NSG and bitcoin.

As beforehand talked about, NSG is a token launched by Nasgo. SNG is a token launched inside ShareNode. ShareNode makes use of bitcoin to pay quoted $USD commissions.

ShareNode pays commissions on NASGO Tokenize packages by means of a unilevel compensation building.

A unilevel compensation building places an affiliate on the prime of a unilevel employees, with every personally recruited affiliate positioned immediately beneath them (diploma 1):

If any diploma 1 associates recruit new associates, they’re positioned on diploma 2 of the distinctive affiliate’s unilevel employees.

If any diploma 2 associates recruit new associates, they’re positioned on diploma 3 and so forth and so forth down a theoretical infinite number of ranges.

Using this unilevel compensation building, ShareNode pays commissions out as follows:

Tokenize Main

  • 1000 SNP and 100 NSG to the affiliate who makes the sale
  • the first chief inside the downline receives 500 SNP and 50 NSG
  • the second chief inside the downline receives 250 SNP and 25 NSG
  • 5 Ambassadors inside the downline get hold of 100 SNP to 10 NSG

Tokenize Plus

  • $100, 1000 SNP and 100 NSG to the affiliate who makes the sale
  • the first chief inside the downline receives $50, 500 SNP and 50 NSG
  • the second chief inside the downline receives $25, 250 SN and 25 NSG
  • 5 Ambassadors inside the downline get hold of $5, 100 SNP and 10 NSG

Tokenize Premium

  • $200, 1000 SNP and 100 NSG to the affiliate who makes the sale
  • the first chief inside the downline receives $100, 500 SNP and 50 NSG
  • the second chief inside the downline receives $50, 250 SNP and 25 NSG
  • 5 Ambassadors inside the downline get hold of $10, 100 SNP and 10 NSG

Bear in mind that ShareNode fails to produce chief and Ambassador qualification requirements of their compensation promoting provides.

Reinvestment Bonus

ShareNode associates who reinvest earned commissions into SNP get hold of the subsequent bonuses:

  • if an affiliate opts to reinvest 20% of earned commissions they’ll get hold of a ten% bonus in SNP tokens
  • if an affiliate opts to reinvest 50% of earned commissions they’ll get hold of a 15% bonus in SNP tokens
  • if an affiliate opts to reinvest 20% of earned commissions they’ll get hold of a 20% bonus in SNP tokens

SNP Funding Returns

After signing up, ShareNode associates are able to immediately put cash into SNP tokens.

ShareNode set the internal value of SNP tokens, with associates able to acquire a ROI by cashing out by means of ShareNode’s inside alternate.

Turning into a member of ShareNode

ShareNode affiliate membership is tied to funding in a minimal of 1000 SNP tokens.

As per the ShareNode promoting slide on the appropriate, this information is simply not shared with most people.

As such I was unable to pin down what ShareNode are at current selling 1000 SNP tokens for.

This is not how a good MLM agency operates.

Conclusion

Nasgo is principally marketed as a blockchain platform. In a nutshell they want enterprise to pay them 1000’s of {{dollars}} to utilize their NSG and SNP tokens.

As I write this neither NSG or SNP are publicly tradeable, which means the price and purchasing for/selling of the tokens is centrally managed by means of Nasgo and ShareNode.

Versus cryptocurrency, this reduces every tokens to Ponzi components.

ShareNode and Nasgo can set the worth of SNP and NSG to regardless of they want.

Naturally, to take care of their affiliate consumers blissful, the company is extra more likely to solely ever enhance the price.

Funding in NSG tokens permits an affiliate to park the components with ShareNode, in alternate for every day returns in SNP.

That’s efficiently how a ShareNode affiliate grows their funding steadiness until they want to cash out.

Cashing out sees ShareNode honor ROI withdrawal requests with invested funds.

ROI earnings is represented as coming out of companies who be part of with Nasgo Tokenize Packages, nonetheless there’s no supplied auditing of this.

Not withstanding if there aren’t any companies signing up, ShareNode represents they’ll nonetheless honor ROI withdrawal requests.

In case you ever want to promote your SNP tokens, you can. They’re
yours to allocate the place and should you want to.

Till they’re withholding that selling is simply doable if one different SNP bagholder buys your tokens, the ROI withdrawal money has to return again from someplace.

That leaves new funding from associates (who put cash into NSG, bitcoin or ethereum), closing the Ponzi cycle loop.

I’d even be very shocked if ShareNode weren’t paying referral commissions on SNP funding, nevertheless I wasn’t able to confirm within the occasion that that they had been.

In any event it must be painfully obvious that NSG and SNP tokens are securities. ShareNode associates are investing in SNP on the expectation of a passive return, which is interwoven with SNG tokens.

ShareNode rewarding associates with bonus SNP within the occasion that they determine to reinvest commissions into SNP demonstrates that, no matter exhibiting as two companies, truly ShareNode and Nasgo are managed by the an identical people; particularly Stephen Chiang, Eric Tippets and James Hardy.

All three seem to be primarily based out of California inside the US. Furthermore ShareNode and Nasgo are being actively promoted all through the US.

Nasgo’s promoting supplies claims the company has ‘a group of 4,000 representatives.

Alexa moreover cites the US as an important provide of web site guests to every the Nasgo website (34%). For the ShareNode website the US is obtainable in at second (38%), behind South Korea at 53%.

To perform legally inside the US, ShareNode and Nasgo should register their respective tokens with the SEC.

On the time of publication neither ShareNode, Nasgo, Stephen Chiang, Eric Tippets or James Hardy are registered with the SEC.

Which implies that on a base diploma, ShareNode and Nasgo are committing securities fraud.

Nevertheless Oz, what about all the companies investing in Tokenize packages?

Glad you requested.

NASGO was launched in early 2018 by serial entrepreneurs Eric Tippetts and Stephen Jiang and markets its corporations to small-to-medium enterprises by means of a group of 4,000 representatives.

As above, Nasgo was launched in early 2018. Alexa web site guests estimates reveal Nasgo by itself flopped:

It wasn’t until ShareNode took off in mid-August that Nasgo’s reversed an in some other case certain collapse.

What we research from that’s outdoor of SNP funding from ShareNode associates (primarily in South Korea and the US), not lots is occurring inside Nasgo.

Tokenize purchasers? What purchasers?

If Nasgo’s on the spot token platform was viable, there’d have been no should launch ShareNode to prop it up.

As a result of it stands ShareNode and Nasgo are one securities fraud cease and desist from shutting down.

South Korea has emerged as a hotbed for cryptocurrency fraud over the last few years (MLM and non-MLM). Throughout the US ShareNode and Nasgo are merely one different fraudulent MLM cryptocurrency different to throw on the pile.

True to sort, ShareNode are moreover gearing as a lot as unfold into Vietnam, one different notable hotbed for MLM cryptocurrency fraud (BitConeeeeeeeeeeeect!).

The one precise money stepping into the companies is affiliate funding in SNP, which costs ShareNode and Nasgo little to nothing to generate.

The bitcoin and ethereum invested in SNP, sans bitcoin is paid out in commissions, is squirreled away by the three founders.

When ShareNode and Nasgo collapse or are shut down, SNP and NSG tokens evaporate and sorry in your loss.

Alternatively SNP and NSG are dumped on some dodgy public exchanges, although that seems unlikely given how laborious Nasgo is pushing its token ecosystem.

Anyway even when does, no individual outdoor of ShareNode is occupied with SNP tokens, so it’s nonetheless a sorry in your loss scenario.

The one winners listed beneath are these producing SNP and NSG tokens. Just some early adopters will cash out by means of the internal alternate, nevertheless lastly the overwhelming majority of ShareNode associates will take a loss.

 

Substitute twenty ninth April 2022 – The SEC filed a ShareNode/Nasgo fraud lawsuit on April twenty eighth.