Sincere Systems provides no information on its website about who owns or runs the company.
In an attempt to appear legitimate, Sincere Systems provides a UK incorporation link in its website FAQ.
Sincere Systems Group LTD was incorporated in June 2020.
UK incorporation is dirt cheap and effectively unregulated. It is a favored jurisdiction for scammers looking to incorporate dodgy companies.
For the purpose of performing MLM due-diligence, UK incorporation is meaningless.
As opposed to the UK, Sincere Systems appears to be operated out of Russia and/or the Ukraine.
This is supported by Russia and Ukraine being the only notable sources of traffic to Sincere Systems’ website. At the time of publication Alexa pegs Russia at 36% and the Ukraine at 22%.
Russian text appears in documents provided by Sincere Systems:
Sincere Systems’ YouTube channel is full of Russian language marketing videos:
And all of Sincere Systems marketing webinars are scheduled on Russia/Ukraine time, with hosts bearing names you’d expect (e.g. Vadim Mashurov, Alexey Kozinov, Lina Nikonenko etc.)
Who is running Sincere Systems from Russia and/or the Ukraine is not disclosed.
As always, if an MLM company is not openly upfront about who is running or owns it, think long and hard about joining and/or handing over any money.
Sincere Systems’ Products
Sincere Systems has no retailable products or services, with affiliates only able to market Sincere Systems affiliate membership itself.
Sincere Systems’ Compensation Plan
Sincere Systems affiliates invest $100 or more on the promise of an advertised monthly ROI:
Referral commissions on invested funds are paid out via a unilevel compensation structure.
A unilevel compensation structure places an affiliate at the top of a unilevel team, with every personally recruited affiliate placed directly under them (level 1):
If any level 1 affiliates recruit new affiliates, they are placed on level 2 of the original affiliate’s unilevel team.
If any level 2 affiliates recruit new affiliates, they are placed on level 3 and so on and so forth down a theoretical infinite number of levels.
Sincere Systems pays a 16% referral commission on funds invested.
Affiliates earn 5% to 16% based on rank, with higher ranked affiliates able to pick up the difference between their rank and lower ranks within their unilevel team.
- Level 1 – invest $100 and receive a 5% referral commission rate
- Level 2 – generate $3000 in downline investment volume and receive a 7% referral commission rate
- Level 3 – generate $10,000 in downline investment volume and receive a 9% referral commission rate
- Level 4 – generate $25,000 in downline investment volume and receive a 10.5% referral commission rate
- Level 5 – invest $500 and generate $50,000 in downline investment volume and receive a 12% referral commission rate
- Level 6 – invest $1000 and generate $100,000 in downline investment volume and receive a 13% referral commission rate
- Level 7 – invest $5000 and generate $500,000 in downline investment volume and receive a 14% referral commission rate
- Level 8 – invest $10,000 and generate $1,000,000 in downline investment volume and receive a 14.5% referral commission rate
- Level 9 – invest $30,000 and generate $3,000,000 in downline investment volume and receive a 15% referral commission rate
- Level 10 – invest $100,000 and generate $10,000,000 in downline investment volume and receive a 15.5% referral commission rate
- Level 11 – invest $250,000 and generate $25,000,000 in downline investment volume and receive a 16% referral commission rate
Again, 20% is paid on all investment into Sincere Systems. The referring affiliate receives their rank percentage, with the rest (up to 20%) distributed upline to higher ranked affiliates.
Note that Level 11 affiliates receive the full 20% commission on all personally referred investment.
Joining Sincere Investment
Sincere Investment affiliate membership is free.
Full participation in the attached income opportunity requires a minimum $100 investment.
Despite the company name, Sincere Systems is anything but sincere about its legitimacy.
Sincere Systems represents it generates external revenue via ‘an innovative algorithm of world financial companies and banks level.’
Yeah, we don’t know what that means either. But in any case, magic algorithms, something something, and an average ~15% monthly ROI.
On its website Sincere Systems claims to have been trading for twenty-one months:
After 21 months of the successful operation of the trading algorithm. Sincere Systems began to use these algorithms to trade the public pool of its customers.
Things get even more silly when you take a look at the company’s roadmap:
If Sincere Systems’ anonymous admins have been running a bot for years at ~15% a month, what on Earth do they need your money for?
Sincere Systems also claims their stock standard UK shell company incorporation gives them permission:
Do you have a business permission?
Yes, the company has permission to:
64304 – Activities of open investment companies
64205 – Activities of financial services holding companies
64303 – Activities of venture and development companies
64999 – Financial intermediation
To be clear incorporating a shell company in the UK doesn’t give Sincere Systems permission to engage in any of the above.
What Sincere Systems markets is a securities offering. Sincere Systems is not registered to offer securities in any jurisdiction it solicits investment in.
This means that at a minimum, Sincere Systems is committing securities fraud and operating illegally.
As it stands, the only verifiable source of revenue entering Sincere Systems is new investment.
Using new investment to pay affiliate withdrawal requests makes Sincere Systems a Ponzi scheme.
As with all MLM Ponzi schemes, once affiliate recruitment dries up so too will new investment.
This will starve Sincere Systems of ROI revenue, eventually prompting a collapse.
Sincere Systems’ exit-scam of choice is the Ponzi points token.
Marketed as “coming soon”, Sincere Token is
intended for the purchase of investment products, payment for services, receipt of dividends and bonuses within the platform, which can be exchanged for any convenient currency in Sincere Pay or the external market.
The exit-scam will see Sincere Systems’ admins switch to only paying returns in Sincere Tokens, which are worthless and generated on demand at little to no cost.
Initially Sincere Token will be convertible into actual money through the internal exchange, Sincere Pay.
When the time comes, Sincere Token will be dumped on a few dodgy public exchanges. Sincere Tokens’ admins and top investors will withdraw during the initial listing pump phase.
As Sincere Token then inevitably dumps, they take what they’ve scammed and exit stage left.
What’s left of Sincere Systems’ gullible affiliate investor-base are left bagholding Sincere Tokens, which they learn the hard way are utterly worthless outside of the Ponzi scheme.
Update 12th December 2021 – Sincere Systems collapsed in mid 2021. The Ponzi scheme was rebooted as S-Group in August.