Website & Company Information
The web domain of the company was privately registered on the 9th of July 2019 and was later updated on 2019–11–08. Adam Schultz heads the company.
The about us page of the website is filled with ‘creative stories’ aimed at augmenting a credible past about the owner of the company. We looked at the intro video of Adam Schultz and based on our past experience; we can say that the ‘character’ Adam Schultz is played by an actor. Plus, the office shown in the video is a temporary rented space for videography purposes.
The company is incorporated in Panama, the full address being: GREENVIEW PANAMA, CORREDOR SUR, PANAMA. The legal documents showed on the website is an attempt to look legitimate. Panama has been a safe haven for fraudsters and registering a shell company in the jurisdiction is easy and cheap.
The company has no products or services to offer, but only its affiliate membership plan aimed at pumping new users into the system.
This is a matter of concern because an MLM must have a retail option if it is serving clients worldwide. For example in Canada and the U.S, an MLM cannot operate without a retail option.
Forrise is catering to clients around the world without having any retail option.
Forrise’s compensation plans consist of 9 investment plans, with a daily ROI of 1% to 5%. Insane right?
Full compensation plan at https://forrise.com/en/funds
They accept payment via Perfect Money, Payeer, Bitcoin, Litcoin and Ethereum.
The company has a lucrative affiliate program that rewards lucrative commissions, as much as 6% of the funds invested by your recruits.
Forrise also pays commissions to its affiliates via a unilevel structure, capped at 25 downlines.
Joining Forrise and its full income opportunity will require a minimum investment of $50. The maximum investment cap is $5000000.
Forrise claims of generating revenue through ‘International Trading Activities’. And yet fails to provide any substantial proof to back its claim.
Talking about the business side, Forrise is operating illegally and might get hit by huge lawsuits any day. Forrise’s business model consists of investment solutions that do not hold a permit from any financial regulator – — be it FCA or the SEC. The financial regulators can have a crackdown on not only Forrise but also on its affiliates.
Any company claiming to be an investment company should show their FINANCIAL LICENSE as this is the proof that they operate legally — It is mandatory. Not talking about Company Registered license but a Financial License that all investment companies, banks and insurances have.
Additionally, the incorporation certificate featured on the website looks fake, with certificate number being 001, and the officer’s signature is empty.
Ponzi Logic Test
Forrise also fails the Ponzi logic test. If the so-called owner Adam is being able to make 5% ROI per day, why does he need your money?………that too a mere $50….
So far, the only verifiable source of income is NEW INVESTMENTS. And, they honour payout to existing affiliates using the new funds. They will keep repeating the process until new funds stop coming in and when withdrawal amounts grow bigger than deposits.
No matter how hard they try, it still looks like their business is standing on thin ice. With actors playing the CEO and the execs, and rented office space to show the legitimacy of their business — they could not hide their lies. We still do not know who is running the company and from where. At the time of writing this article, Alexa cites the United States(65.9%), Russia (4.8%) and Vietnam (3.8%) as top sources of traffic to Forrise’s website. It is highly likely that the admin is operating from any one of these countries.
Forrise is yet another Ponzi-MLM Scheme that will keep on operating until new funds stop coming in. And when the recruitment process slows down, the withdrawals will be halted, triggering a system collapse.