Solidus World present no data on their web site about who owns or runs the enterprise.
The Solidus World web site area (“solidusglobal.com”) was registered on Could twenty seventh, 2018.
Chris Principe is listed because the area proprietor, by what’s assumed to be a digital handle in Saint Lucia.
Principe first popped up on BehindMLM’s as one of many advertising and marketing arms of the OneCoin Ponzi scheme.
In alternate for an undisclosed sum of cash and/or place or positions inside OneCoin, Principe promoted OneCoin by his Monetary IT publication in early 2016.
Across the identical time, Principe was additionally selling the Skyway Capital Ponzi scheme.
Along with showing in Monetary IT, Principe spoke at OneCoin occasions and introduced himself as an insider.
OneCoin unofficially collapsed in early 2017. Principe, together with everybody else driving the OneCoin Ponzi prepare, distanced themselves from the rip-off all through 2017.
In mid 2017 Principe sued distinguished OneCoin critic Timothy Curry. Principe claimed Curry calling out his affiliation questionable companies value him a Skyway Capital contract value $75,000.
Sure, that’s the identical Skyway Capital Ponzi scheme we referenced earlier.
It’s broadly believed Principe’s lawsuit was funded by OneCoin, as a part of a proxy effort to go after considered one of their loudest critics.
Principe performed this up, recurrently referring to his lawsuit as “us vs. them” and an opportunity to “get the haters” at numerous OneCoin occasions.
Regardless of the bravado nonetheless, Principe quietly settled the lawsuit in April this 12 months.
One other OneCoin determine concerned in Solidus World is former high investor, Juha Parhiala.
As we talked about earlier, most of OneCoin’s high brass deserted ship after the January 2017 collapse.
Throughout OneCoin’s heyday, Ted Nuyten routinely celebrated Parhiala’s earnings on BusinessForHome.
Nuyten heralded Parhiala as the highest MLM earner on the earth, clocking in at round $24 million yearly.
In late 2017 Parhiala emerged as the brand new proprietor of a bar in Cambodia.
2018 was largely a quiet 12 months for Parhiala, up till a September third Fb submit;
Are you prepared? That is my final mission ever!
With Solidus World we are going to did it yet one more time! With this chance are you prepared to stroll together with me one final time!?
Juha Parhiala | Impartial Coach
In a letter accompanying the submit, Parhiala confirms Chris Principe is the founding father of Solidus World. Solidus World advertising and marketing materials additionally cites Principe as CEO of the corporate.
On Fb the official Solidus World account credit Parhiala as the corporate’s “Grand Ambassador”.
Learn on for a full evaluate of the Solidus World MLM alternative.
Solidus World Merchandise
Solidus World has no retailable services or products, with associates solely in a position to market Solidus World affiliate membership itself.
The Solidus World Compensation Plan
Solidus World associates spend money on “gold mining contracts” on the promise of a ROI.
Commissions are paid once they recruit others who do the identical.
Recruitment Commissions
Solidus World associates are paid 10% of funds invested by personally recruited associates.
Residual recruitment commissions are paid out down three ranges of recruitment (unilevel):
- degree 1 (personally recruited associates) – 5%
- degree 2 – 4%
- degree 3 – 3%
Residual Commissions
Solidus World pay residual commissions by way of a binary compensation construction.
A binary compensation construction locations an affiliate on the high of a binary group, break up into two sides (left and proper):
The primary degree of the binary group homes two positions. The second degree of the binary group is generated by splitting these first two positions into one other two positions every (4 positions).
Subsequent ranges of the binary group are generated as required, with every new degree housing twice as many positions because the earlier degree.
Positions within the binary group are crammed by way of direct and oblique recruitment of associates. Notice there isn’t a restrict to how deep a binary group can develop.
Commissionable quantity is generated by way of funding throughout the binary group.
On the finish of every week Solidus World tally up new funding on either side.
Associates are paid 10% of commissionable quantity generated on the weaker facet of their binary group.
Paid quantity is flushed, with leftover quantity on the stronger facet carried over.
Matching Bonus
The Matching Bonus is paid on downline residual binary earnings.
Solidus World pay the Matching Bonus down three ranges of recruitment:
- degree 1 (personally recruited associates) pay a ten% match
- degree 2 pays 3%
- degree 3 pays 2%
Rank Rewards
Solidus World reward associates for convincing others to speculate as follows:
- Citizen (recruit and preserve two investing associates (1:1) and generate a minimum of 3500 GV a month in downline funding quantity) – obtain a certificates
- Soldier (preserve two personally recruited associates (1:1) and personally generate a minimum of 7000 GV a month in downline funding quantity) – one other certificates plus “Solidus model package deal”
- Noble (recruit and preserve a minimum of two Soldier ranked associates (1:1) and generate a minimum of 16,000 GV a month in downline funding quantity) – obtain the worth of an 11.66g 18k gold bar in USD
- Governor (recruit and preserve a minimum of three Noble ranked associates (2:1) and generate a minimum of 75,000 GV a month in downline funding quantity) – obtain the worth of a 50g 18k gold bar in USD
- Consul (recruit and preserve a minimum of 4 Governor ranked associates (2:2) and generate a minimum of 300,000 GV a month in downline funding) – obtain the worth of a 117g 18k gold bar in USD
- Senator (recruit and preserve a minimum of 5 Consul ranked associates (3:2) and generate a minimum of 1,100,000 GV a month in downline funding quantity – obtain the worth of a 468g 18k gold bar in USD
- Emperor (recruit and preserve a minimum of six Senator ranked associates (3:3) and generate a minimum of 3,500,000 GV a month in downline funding quantity – obtain the worth of a 1kg 18k gold bar in USD
- Caesar (recruit and preserve a minimum of seven Emperor ranked associates (4:3) and generate a minimum of 15,750,000 GV a month in downline funding quantity
Notice that the ratios supplied above are the minimal variety of associates (ranked or in any other case) required on either side of the binary group.
Whether or not one quantity is on the left or proper doesn’t matter, supplied the opposite facet has the required variety of associates towards the opposite.
GV stands for “Group Quantity” and is quantity generated by way of downline funding.
On the time of publication Solidus World don’t present corresponding GV for particular funding quantities.
Becoming a member of Solidus World
Solidus World affiliate membership is $30.
Full participation within the Solidus World MLM alternative requires an extra $100 to $10,000 funding (estimated).
Conclusion
Even should you had been to disregard Chris Principe and Juha Parhiala’s affiliation and promotion of Ponzi schemes, Solidus World raises pink flags on face worth.
Your first warning is Chris Principe boasting about Solidus World not having any merchandise to promote:
With nothing being marketed or offered to retail clients, 100% of Solidus World’s income is derived from affiliate funding.
This funding is used to pay recruitment and referral commissions, rewarding those that herald a lot of traders.
And right here’s the place issues get (much more) murky.
You gained’t discover any point out of it on the Solidus World web site, however behind the pyramid scheme front-end is a suspiciously Ponzi wanting back-end.
Solidus World associates are inspired to spend money on so-called “gold mining contracts”, purportedly based mostly in Africa.
The present contract being pitched is “BanwaGold”, by which associates obtain a 24 month ROI.
Advertising materials suggests Solidus World pay the ROI after 24 months, however owing to the secrecy of the chance I can’t say for positive (therefore no inclusion within the comp plan evaluation above).
What I can verify is Solidus World present no proof of any gold mining operations in Africa or anyplace else on the earth.
In some unspecified time in the future movies of equipment in a random area someplace may floor, however that’s not an alternative choice to regulatory disclosure.
There’s no official motive for Solidus World to faux it’s based mostly within the Saint Lucia tax haven, aside from deliberate evasion from authorities for so long as potential.
One factor OneCoin discovered it exhausting to do as consciousness of the Ponzi scheme unfold was preserve open banking channels.
By this stage the corporate’s personal identify had been flagged by main banking and monetary establishments.
A brief answer was to open accounts within the identify of an countless parade of shell corporations, nonetheless they too had been shut down at an more and more quicker price.
Two months in the past Chris Principe interviewed Herve Lacorne, then CEO of WinstantPay.
The interview itself is nothing outstanding, however a number of months later WinstantPay has emerged as Solidus World’s cost processor.
Since then Lacorne seems to have been downgraded to WinstantPay’s Chief Revolutionary Officer.
How deep does the WinstantPay Solidus World rabbit gap go?
In accordance with Tim Curry, Herve LaCorne supplied banking providers to OneCoin and its leaders by his Commerce Options Group firm.
Just about each side of Solidus World’s company and monetary construction is an incestuous stew that, sooner or later or one other, traces again to OneCoin.
To place it bluntly; Chris Principe and Juha Parhiala are actually no extra specialists in gold and mining than they had been in cryptocurrency with OneCoin.
What they’re specialists in nonetheless is observing how a Ponzi scheme can be utilized to dupe a ton of individuals out of a ton of cash.
If Solidus World’s ROI contracts actually don’t pay something out till 24 months, that’s a ton of time for them to squirrel away invested funds.
The character of Solidus World’s enterprise mannequin lends itself to new ROI alternatives being introduced as present ones cool. That’s individuals are not investing in them.
Beforehand invested funds can (and can) be used to pay out present ROI contracts, nonetheless a collapse remains to be inevitable.
One want solely look so far as OneCoin to see Ponzi math and the ensuing losses in motion.
Outdoors of what’s recovered in recruitment and residual commissions, the vast majority of Solidus World affiliate traders will lose cash.