Due to MyCOM’s deliberate omission of MLM-related information in their advertising, this is not a standard BehindMLM evaluation.
This assessment was difficult to compile due to the frequency with which Tesora Financial, the parent firm, conceals information throughout its different operational divisions.
I would advise you to avoid MyCOM and Tesoro Financial on this premise alone. MLM firms will only go to such efforts to conceal facts when they have nefarious intentions.
To learn just what MyCOM and Tesora Financial are doing, continue reading.
The founder and CEO of MyCOM are Jaime Villagomez.
Villagomez is also the creator and chief executive officer of Tesora Financial Group (dba Tesora International) and all of its affiliated shell corporations.
In Utah, Villagomez operates MyCOM and Tesoro Financial Group.
MyCOM was founded as an eCommerce platform MLM in 2017.
Four years later, the situation is as follows:
The MyCOM marketplace fails in every measurable way. Therefore, it is not unexpected that Tesora Financial and Villagomez have joined the cryptocurrency bandwagon.
Before we get into that, though, I would want to explain what MyCOM is marketed as.
Essentially, you’re looking at a closed e-commerce website that offers cashback. Instead of true money, affiliates, consumers, and companies are compensated in COMS, which, as Villagomez emphasizes, “is not a cryptocurrency.”
However, this is dishonest, as there appears to have been a crypto component to COM points at some point:
Aside from this distinction, COMS may as well be MyCOM’s internal coin.
Retail consumers purchase things from MyCOM’s empty marketplace and get COMS. They cannot be cashed out.
Retailers are compensated in COMS, which may be cashed out.
It is not indicated if MyCOM affiliates can pay out COMS, which presumably suggests they can (hush hush).
Oh, and for some inexplicable reason, COMS may be directly invested in, which serves no use other than to generate revenue for MyCOM.
On the MLM side of things, it is not mentioned if commissions are paid on MyCOM investments.
What we do know is that MyCOM charges fees to merchants, which finances the cashback (referred to as “chargeback” because of the funding mechanism).
com retains 30% of the cashback fee collected from the merchant and pays the remaining 70% to the merchant.
30% to the consumer; 1% to 4% to the recommending MyCOM affiliate (depending on the number of fees paid).
4% to the store’s allocated MyCOM Pro Advisor
15% to “regional managers”
20% of a deep ten-level unilevel squad
MyCOM conceals this unilevel compensation system on purpose. You won’t find it on their website or in their promotional videos.
The reason claimed for the deceit is that MyCOM does not want to be perceived as a multi-level marketing organization. They believe that this will improve their ability to recruit retailers (see screenshot above; things are going nicely).
Aside from shady business methods, MyCOM’s Marketplace collapsed due to an obsolete business strategy.
MyCOM bases its access fees on a three-tier pricing structure:
Basic – no cost
Plus – $60 per year
VIP – $120 per year
You may get more COM points the more you spend.
Additionally, as a prospective client, you must be introduced by an existing MyCOM affiliate.
This is competing with a plethora of free applications and browser cashback/voucher extensions, many of which offer much greater merchant coverage.
There are no fees, no ecosystem restrictions, and some even give cash back.
Against this is MyCOM’s Marketplace business model battling. So it is not surprising that the idea failed.
This is the Achilles’ heel of every MLM cashback platform for eCommerce. Fees must be levied someplace, or commissions cannot be paid out.
Regarding affiliate fees, MyCOM charges the following:
Consultant in business – $360 yearly
Professional Representative – $600
MyPoint Pro – $900 per year
Again, spending directly influences earning potential.
These are MyCOM’s business fees:
Free – no fee, maximum of $500 Share back Plus – $100 per year, maximum of $50,000 Share back VIP – $300 per year, maximum of $150,000 Share back
A MyPoint membership costs $900 per year or $75 per month. It looks to be a membership fee designed just to increase your revenue potential.
Commissions on the aforementioned membership fees are not revealed. I would suppose so; what else could MyCOM be doing with such fees?
Let’s move on to the next phase of Tesora Financial: crypto shitcoins, now that we’ve established what MyCOM is and why it failed.
There are a large number of shell businesses under Tesora Financial, but only a few have been detailed.
Bitcoin Trust, Tesora Trust, Tesora Custody, and Tesora Exchange are the key companies that we will refer to.
Bitcoin Trust is the primary shitcoin of Tesora Financial.
According to the company’s plan, Bitcoin Trust (BCT) is a worthless ERC-20 token.
On the Ethereum blockchain, ERC-20 shitcoins may be created at minimal expense in five minutes.
Affiliates of MyCOM invest directly in BCT via their back office.
According to Jaime Villagomez’s back-office example, Tesora Financial offers BCT to affiliates for 0.9994 USDT apiece.
According to Tesora Financial’s marketing, the key rationale for BCT investment is the inference that affiliate investors would eventually be able to withdraw more than they initially invested.
Due to the aforementioned confidentiality, I was unable to determine if BCT investments pay commissions.
Once BCT has been invested, it is parked with the firm. In exchange, Tesora Financial pays affiliate investors with more Bitcoin. The internal value increases, allowing affiliates to withdraw more than they initially invested.
In other words, BCT is a conventional passive investment crypto MLM scheme.
Built within this is a shitcoin factory (why stop at one? ), ostensibly connected to themed smart contracts.
A mobility token is one of these crap tokens.
In an August 2020 mobility token promotional film, My ECOM asserts, “You can drive your ideal automobile for free.”
Affiliates would invest in mobility tokens, receive additional mobility tokens in return, cash out other people’s money, and use it to pay off the auto loan.
The mobility token program is described on Tesora Financial’s website under the heading “AutoMobility.”
There you will discover a link to the “automobility. it” website.
Auto Mobility appears to be an independent Italian company that predates MyCOM.
There is no mention of a mobility token on the Auto Mobility website.
The only mention I could find was a single August 2020 post on Auto Mobility’s official Facebook page.
Weirdly, Auto Mobility does not advertise free automobiles on its website.
Additional themed feces tokens Tesora Financial is a business startup (power start) and real estate investment company (powerhouse). Same foolishness, invest in tokens, park tokens, receive additional tokens, and cash out – everything is free.
Tesora Trust is a covert option for passive investing. It has a spot on the myCOM website, however, the corporation is purposefully vague about the specifics:
“Holding assets” seems like just another way to store tokens, acquire additional tokens, and cash out.
The connected website domain “tesora.io” is invalid.
Tesora Custody is a possibility for passive bitcoin investing that can be accessed through my ICOM.
Deposit your bitcoins with Tesora Custody to get more coins!
There is no use in having bitcoins without trading them; instead, deposit them and put them to work!
This sounds like a standard crypto trading Ponzi scheme.
Finally, we have “Mining Farm by Tesoro Group,” an additional potential for passive investment.
Mining Farm by Tesora Group allows community members to participate through Tesora tokens without having to handle the technology.
This is the sole mention of a “resort token” I could find.
Tesora Financial Group and Jaime Villagomez have developed and are pushing various securities offerings by providing multiple passive investment options through their MLM opportunity or elsewhere.
In light of all that has transpired in the United States, my ICOM and Tesora Financial Group must register their securities offerings with the SEC.
Jamie Villagomez, MyCOM, Tesora Financial Group, or any of the known shell firms are not SEC-registered.
And now you see why all of this is kept secret and sold quietly behind closed doors.
com is a failed e-commerce platform MLM company that conceals the fact that it is an MLM company; parent company Tesora Financial Group has jumped on the crypto bandwagon, launching several passive investment schemes; neither myCOM nor Tesora Financial Group is SEC-registered, meaning the company is committing securities fraud and operating illegally.
You understand the procedure. This will end badly.
Jojar Dhinsa & CashFX Group – Crook Review
Jojar Dhinsa has officially denied using the CashFX Group Ponzi scheme to defraud individuals.
Dhinsa appeared on NTV Unscripted on August 19th, according to Harry Page of the Facebook group “CashFX (in connection with EverFX) Scam – Now What!?”
NTV bills itself as “Bangladesh’s top TV channel.” It is televised locally throughout the United Kingdom and Europe.
Rather of admitting to promoting a Ponzi scheme for profit, Dhinsa claims he never cheated anyone.
They’ve basically made stuff up about getting jailed for fraud or defrauding others, according to web reports.
I wish I had scammed folks so there would be some evidence.
Unfortunately for Dhinsa, finding the proof he says does not exist is not difficult.
Dhinsa went on to talk about defrauding individuals through CashFX Group after denying he had defrauded anyone.
I became acquainted with CashFX, a cryptocurrency multi-marketing firm, two years ago (Group).
I did some research. I felt I was assisting them, and I did assist them. I made some money but didn’t get involved all that much.
In retrospect, I should not have gotten engaged. I do not support them. I don’t recommend that folks look at them.
However, conduct your own research. Conduct your own research. And I finished my… a bit of a haphazard approach Which is not typical of me.
Dhinsa refuses to accept his victims or the fact that CashFX Group is a Ponzi scheme in which the only way to gain money is to defraud others.
Dhinsa sung a drastically different song when he joined CashFX Group in 2020 and was particularly challenged about his due-diligence into the Ponzi scam;
So the first thing that everyone does, including myself, is go online and Google it, and there was a lot of information on CFX. This, that, and the other fraud alert(s).
But then you have to take a step back and assess who is saying those things. Right?
Wrong. Your MLM due diligence on CashFX Group begins and finishes with “this is a Ponzi scam with fraud alarms from all around the world.”
It makes no difference who tells you this since you can independently check and corroborate the information.
But, of course, this was before Dhina discovered there was money to be stolen.
And they read the comments, and there were people saying, you know, it’s a scam, it’s this, it’s a Ponzi scheme, it’s a pyramid system.
Surprise, surprise, every organization on the earth, including mine, is a pyramid.
This is a classic diversion tactic used by pyramid scheme scammers. It is often built on a CEO sitting at the top of a diagram of management and staff in the shape of a pyramid.
I’m at the top. I have a Board of Directors, a management team, HR, a Head of Department, salesmen, and sales representatives. As a result, every institution, including the Royal Family and the British Army, is a pyramid system. So that’s not a problem.
The parallel fails because the movement of money inside a pyramid scheme, as well as the manner in which the money is created, is what makes it unlawful.
Nothing is offered or sold to retail customers by CashFX Group. Thus, CashFX Group’s MLM side acts very much like a pyramid scam (commissions are paid on new investor recruitment, which are sent upline to recruiters and the company’s owners).
The question I asked myself was, “Is it a Ponzi scheme?” and, “How do I know it’s not a Ponzi scheme?”
Because I read that it’s a Ponzi scam. You don’t make money from Ponzi schemes, and blah yada yada.
So I read the reviews. I distributed it internally to my team for review. Then I decided to contact someone in Panama, most likely from one of Panama’s wealthiest families.
“Would you mind coming to the offices for me and taking some shots of everything?” I asked Niko.
And he went… He made new friends there. “Look, they’re redoing the offices,” he added… “Fine, thank you very much,” I said.
We examined the system’s back end, the CRM system. It appears to be OK.
Dhinsa claims he sought “everyone” who approached him about his CashFX Group involvement for proof that CashFX Group was a Ponzi scam.
In July 2019, BehindMLM presented proof that CashFX Group was a Ponzi scam.
Dhinsa makes no mention of this evidence or why he overlooked it. Likewise, CashFX has gotten several securities fraud alerts from regulators all around the world by that point.
Because my reputation is very important to me.
Dhinsa ruined his reputation by joining, promoting, and eventually benefitting from CashFX Group.
Dhinsa’s advertising of CashFX Group was very shady. Dhina targeted the homeless in the UK, stating that by hiring them for CashFX Group, he would “affect 1 million lives.”
Dhinsa’s Ponzi marketing legacy was followed by other CashFX Group crooks.
I’m not sure when Dhinsa quit CashFX Group. When the money ran out, he slunk away silently.
In early 2020, CashFX Group began postponing withdrawal payments. Delays continued for the following year and a half, eventually leading to CashFX Group suspending withdrawals in late 2021.
BehindMLM identifies this as the demise of CashFX Group.
Huascar Lopez, CashFX Group’s founder and CEO, will leave the Dominican Republic in late 2021. What began as a vacation to Italy has now revealed itself to be the beginnings of an exit-scam.
Lopez has not been seen in public for some months. His present whereabouts and condition are unknown.
BitClub Network – Crook Review Part 2
Jobadiah Weeks, Silviu Balaci, and Joe Abel of the BitClub Network are slated to be sentenced in March 2023.
The following sentences were postponed for the trio on August 12th:
Jobadiah Sinclair Weeks is scheduled to be sentenced on March 14, 2023.
Silviu Catalin Balaci will be punished on March 16, 2023, and Joseph Frank Abel on March 21, 2023.
All three are anticipated, but not assured, to serve time in jail.
For the time being, BitClub Network defendant Matt Goettsche is defending the criminal allegations leveled against him. His lawsuit has been adjourned until October 2022.
Russ Medlin, the defendant, is imprisoned in Indonesia for child sex offences.
In related news, Weeks (right) filed on August 8th to have his house confinement converted to curfew.
We sincerely request that Mr. Weeks’ bail restrictions be changed from home confinement to a curfew in order for him to attend family events and visit family-owned properties in Colorado.
The Pretrial Services Officer has advised us that they are open to this revision in light of Mr. Weeks’ general compliance with his release restrictions.
The United States defers to Pretrial Service’s viewpoint, as represented by Assistant United States Attorney Anthony Torntore.
Weeks first believed he could pull a fast one while under custody. Weeks seemed to have accepted his fate and settled down, according to PreTrial Services’ evaluation.
On August 15th, Weeks’ application for a curfew adjustment was approved.
Eric Dalius & Saivian & SEC- Crook Review
Eric J. Dalius secured an agreement with the SEC over Saivian securities fraud.
The news comes after the Saivian defendants reopened discussions with the SEC in June.
According to a Joint Stipulation filed on August 9th;
On August 5, 2022, the Parties held a telephone settlement conference… during which the SEC and the Defendants other than Defendant Ryan Morgan Evans reached an agreement in principle.
Other defendants in the SEC’s Saivian Ponzi case besides Ryan Evans include Eric J. Dalius, Professional Realty Enterprises, Inc., Saivian LLC, Savings Network App LLC, and Realty Share Network LLC.
Details about Dalius’ Saivian colony are likely to be released in the coming months.
In 2015, BehindMLM recognized Saivian as a Ponzi scam. In 2018, the SEC launched a lawsuit against Saivian, alleging that Dalius and Evans conducted a $165 million Ponzi scheme.
While Saivian’s demise signaled the end of Dalius’ Ponzi scheme, Evans doubled down on Elamant.
Elamant is essentially a Saivian clone targeted especially towards African investors.
Despite facing a $100 million securities fraud case in the United States, Morgan continues to perpetrate securities fraud through Elamant.
So yet, US officials have not pursued Morgan for continuing to scam people with Elamant. It remains to be seen if this will alter.
According to SimilarWeb traffic statistics for Elamant’s website, investor recruiting has ceased.
In the event that Ryan Evans does not reach an agreement with the SEC, his Saivian securities fraud trial has been rescheduled for June 6th, 2023.
Uncategorized6 months ago
Meta Labs- Crook Review
Uncategorized9 months ago
Meta Bounty Hunters- Crook Review
Uncategorized11 months ago
AuLives: Crook Review
Uncategorized9 months ago
Full Velocity- Crook Review
Uncategorized10 months ago
Nu Xtrax- Crook Review
Uncategorized9 months ago
FastBNB- Crook Review
Uncategorized10 months ago
A new Ponzi token called HVT caused Hyperverse to fall apart
Uncategorized9 months ago
VsafeCustody- Crook Review