Ponzi schemes like to use the cover of a money making method that few people understand to hide the reality that they are paying early investors using the investments of later investors. In the original Ponzi scheme Charles Ponzi promised clients a 50% profit within 45 days, or 100% profit within 90 days, by buying discounted postal reply coupons in other countries and redeeming them at face value in the United States as a form of arbitrage. There have been endless versions of this type of scam run all around the world. Here is what I have found about BeOnPush:
BeOnPush and Their Bizzare Claims
The developers of the system lead by BeOnPush CEO Ferki Demirovski wish to change the game by providing their affiliates 150% return on investment, which is substantially higher than the most other online money making opportunities available to internet users currently.
BeOnPush has investment in various sectors of the online marketing and in majority trading positions in the Real Time Bidding. The profit that the company earns from these sources and investments; is shared among the members, paid members will become stakeholders and will receive profit according to their investment.
*grammar issues above are from their website.
BeOnPush Scam Reality
BeOnPush was launched in late 2015. They claim to generate their income from RTB (real-time bidding) which allows advertising inventory to be auctioned off in real-time to continually manage the balance between supply and demand.
Their main office is now located in Dubi:
6th Floor Dubai Media City
P.O.Box 126732, Dubai – UAE
The CEO of BeOnPush is Ferki Demirovski. Ferki Demirovski is a Macedonian political adviser, runs his own consulting firm and performed political analysis for the EU. Demirovski took up his CEO position with BeOnPush in August of 2015 and is presumably also the owner of the company. His background is not in advertising.– Source fdemirovski.wix.com
This company provides no information on who they are working with in the RTB industry to make money. They do not provide a prospectus or a balance sheet that shows that they are profitable. The only verifiable income for BeOnPush is new investor money.
Never invest in something you don’t understand. Any money making opportunity that offers regular returns of 150% is a Ponzi scheme.
Charles Ponzi (March 3, 1882 – January 18, 1949) was an Italian businessman and con artist in the U.S. and Canada. His aliases include Charles Ponci, Carlo and Charles P. Bianchi. Born and raised in Italy, he became known in the early 1920s as a swindler in North America for his money-making scheme. He promised clients a 50% profit within 45 days, or 100% profit within 90 days, by buying discounted postal reply coupons in other countries and redeeming them at face value in the United States as a form of arbitrage. In reality, Ponzi was paying early investors using the investments of later investors, a practice known as “robbing Peter to pay Paul.” While this swindle predated Ponzi by several years, it became so identified with him that it now bears his name. His scheme ran for over a year before it collapsed, costing his “investors” $20 million.– Source en.wikipedia.org
- High investment returns with little or no risk. Every investment carries some degree of risk, and investments yielding higher returns typically involve more risk. Be highly suspicious of any “guaranteed” investment opportunity.
- Overly consistent returns. Investment values tend to go up and down over time, especially those offering potentially high returns. Be suspect of an investment that continues to generate regular, positive returns regardless of overall market conditions.
- Unregistered investments. Ponzi schemes typically involve investments that have not been registered with the SEC or with state regulators. Registration is important because it provides investors with access to key information about the company’s management, products, services, and finances.
- Unlicensed sellers. Federal and state securities laws require investment professionals and their firms to be licensed or registered. Most Ponzi schemes involve unlicensed individuals or unregistered firms.
- Secretive and/or complex strategies. Avoiding investments you do not understand, or for which you cannot get complete information, is a good rule of thumb.
- Issues with paperwork. Do not accept excuses regarding why you cannot review information about an investment in writing. Also, account statement errors and inconsistencies may be signs that funds are not being invested as promised.
- Difficulty receiving payments. Be suspicious if you do not receive a payment or have difficulty cashing out your investment. Keep in mind that Ponzi scheme promoters routinely encourage participants to “roll over” investments and sometimes promise returns offering even higher returns on the amount rolled over. – Source sec.gov
When you go to the BeOnPush website you find out that they are focused on taking your money and recruiting people.
It is free to join, but you have to invest to make money and participate in the affiliate program.
Withdrawal Fee 3%.
You can withdraw profit only in the way you funded it. The minimum withdrawal amount is $2. There is no Maximum.
$20, $50, $100, $200, $500, $1000, $5000, $10000
BeOnPush has no products or services for you to sell.
Invest in Beonpush by purchasing packs and receive a return on investment of 150%.
They offer Daily interest rates between 0.50% and 3.50% (estimated rate).
You can recruit people and make 13% of what they purchase.
Direct sponsorship (Level 1): 13%
Indirect sponsorship (level 2): 2%
There is a 10% commission on the sales volume of your weak leg.
When you reach the following volume of sales on your weak leg you receive these rewards:
10,000 volume = Luxury Pen
30,000 volume = VIP Night In Club
80,000 volume = Flight Voucher
200,000 volume = Apple Pack
500,000 volume = Vertu Phone + 1 Year Luxury concierge
1,000,000 volume = Rolex Watch
5,000,000 volume = Luxury Company Car
50,000,000 volume = Sports Car + Beachfront Apartment + Private Jet Fly
The use of the System is solely designated for sophisticated users with the ability to sustain swift losses up to total loss of the invested money and/or the securities. – Source beonpush.com
All transactions are deemed final. – Source beonpush.com
BeOnPush Account Fraud And BeOnTel
All Ponzi schemes inevitably start having problems with people withdrawing money. That time has come for BeOnPush. In a recent update from the CEO of BeOnPush we find out that too many people have opened more than one account and they are withdrawing money from the earnings of the packs they have purchased. If you actually are a company that is making money from the money that people have invested in advertising, the logic of why this is a problem makes little sense. If you are a Ponzi scheme this makes total sense.
BeOnPush now has 230,000 active accounts. These account have been frozen because people were withdrawing too much money.
There are 230,000 active accounts. The problem is there are 50,000 withdrawing accounts. This means that people have opened more than one account or they are managing an account for someone else.
They have tolerated this up to this point, but they will no longer allow this.
5000 accounts that have the same identity on more than one account will be banned.
50,000 accounts will have limited access while they do “calculations” on the server.
BeOnPush Business Model:
They are not an investment bank or any type of company that offers a security.
They are not a get rich website.
They are a marketing service company that offers RTB technology.
They have their own applications where publishers target advertisements.
Buy a pack and promote your own ads which will qualify you to receive a daily sharing of the companies profits.
Soon you’ll be able to start making money with your phone. After 90 days, the company is launching a mobile application through which you can make money anywhere in the world.
BeOnPush applications will be added to a smartphone.
BeOnTel allows you to help someone buy a phone they could normally not afford.
They are ultimately going to be moving everything over to BeOnTel.
So what is happening with BeOnPush? They have frozen peoples accounts and they are taking the investments of some people. Then they are relaunching as BeOnTel. This is the same process I have seen every other advertising Ponzi scheme use. They collect money and then claim fraud. They take peoples money and then relaunch. This will continue until they can no longer find investors.
In my opinion, the BeOnPush scam is a Ponzi scheme. They use unverified profits from the RTB (real-time bidding) advertising market to provide cover for running a scam. They do not provide a prospectus or a balance sheet that shows that they are profitable. The only verifiable income for BeOnPush is new investor money. BeOnPush is focused on taking your money and recruiting people. All investments are final. Total loss of your investment is a real possibility. I would avoid the BeOnPush money making opportunity.This review (BeOnPush) was originally published at Gripeo. To read the full review, go to – www.gripeo.com/beonpush-review/