Prance Gold Review – Ponzi Scheme – MLM Scam

Website & Company Information

The web domain was registered privately on the 7th of May, 2019. It was later updated on 10.02.20.

According to the website and commercials on Youtube, the company is run by founder and CEO Andre Gerald.

We highly suspect Andre Gerald is the real founder of the company due to the following reasons:

  1. On the company’s marketing youtube videos featuring him, you can see he is reading his statements from a script.
  2. There are no traces of his identity outside the Prance Gold ecosystem. We could not find any online footprint.

Same goes for the COO, Jacob Coulsen. See his video here

Fake Team and the mass PR campaign

It is highly likely that all three of the executives featured on the website are fake. While we were researching about the team, we saw many corporate style articles mentioning the COO and CTO of the company and their connection with the company.

After a brief analysis, we conclude that these articles were a part of a PR campaign, aimed at creating a virtual identity of the team that did not exist before.

It is an industry cliche that we see in most of the ‘modern & smart’ MLMs. Below is the procedure of how these MLMs give birth to a fake team:

  1. Create a fake name and hire an actor from Fiverr.
  2. Use his/her face to create the company’s marketing videos.
  3. Now since the name and the character does not exist in real life, these MLMs spend a lot of money in writing fake articles and publishing those articles on different 3rd party blogs/mags/sites.

4. And that’s it. Now whenever a common man would go for due diligence on the team, he will be convinced on the existence of the team because of this artificial online footprint.

Example 1: PR campaign article portraying the character SAI HEIN as the CTO of the company.

The same article has been Press Released on many other platforms.

Example 2: PR campaign article portraying the character JACOB COULSEN as the COO of the company.

The same article has been Press Released on many other platforms.

BONUS POINT: Youtube video comment box deactivated. And you know why!

Alright, so many turn-offs on the first section. Let’s move on to the next section.

Prance Gold’s Products

Prance Gold does not have any products or services to offer. The only thing it has is its affiliate membership program that is designed to pump as many as new members into the system through referral marketing.

Prance Gold’s Compensation Plan

Prance Gold’s affiliate members must invest a minimum of $1000 or more, via cryptocurrencies like Bitcoin (BTC) or Tether (USDT), to get the following returns:

  • invest $1000-$4999 and get a 300% ROI
  • invest $5000-$9999 and get a 400% ROI
  • invest $10,000-$29,999 and get a 500% ROI
  • invest a minimum of $30,000 or more and receive a 600% ROI

The company has a system in place that requires its affiliates to perfrom certain ‘easy’ daily tasks, to get daily returns.

Return of Investment is paid via Tether (USDT) cryptocurrency. Prance Gold has a withdrawal fee mechanism in place where it charges a 5% fee if an affiliate wants to wait three days for withdrawal OR a 3% fee if an affiliate opts for 8 days waiting period.

Residual Commissions

Affiliates are rewarded residual commissions via a unilevel compensation structure, capped at 25 team levels. Following are the criteria:

  • personally recruit 1 affiliate and earn residual commissions across three unilevel team levels
  • personally recruit 2 affiliates and earn residual commissions across five unilevel team levels
  • personally recruit 3 affiliates and earn residual commissions across ten unilevel team levels
  • personally recruit 4 affiliates and earn residual commissions across fifteen unilevel team levels
  • personally recruit 5 affiliates and earn residual commissions across twenty unilevel team levels
  • personally recruit 6 affiliates and earn residual commissions across twenty-five unilevel team levels

Note: Affiliates must be invested in the company’s plans to qualify for the income opportunity attached above.

These residual commission rates across all the unilevel team levels depends upon the funds invested by Prance Gold affiliates. Following are the percentages per level:

  • invest $1000-$2999 and get 8% on level 1 (personally recruited affiliates), 6% on level 2, 4% on level 3, 2% on levels 4 to 6, 1% on levels 7 to 10, 0.6% on levels 11 to 19 and 0.4% on levels 20 to 25
  • invest $3000-$4999 and get 12% on level 1, 9% on level 2, 6% on level 3, 3% on levels 4 to 6, 1.5% on levels 7 to 10, 0.9% on levels 11 to 19 and 0.6% on levels 20 to 25
  • invest $5000-$9999 and get 16% on level 1, 12% on level 2, 8% on level 3, 4% on levels 4 to 6, 2% on levels 7 to 10, 1.2% on levels 11 to 19 and 0.8% on levels 20 to 25
  • invest $10,000-$29,999 and get 20% on level 1, 15% on level 2, 10% on level 3, 5% on levels 4 to 6, 2.5% on levels 7 to 10, 1.5% on levels 11 to 19 and 1% on levels 20 to 25
  • invest a minimum of $30,000 or more and get 24% on level 1, 18% on level 2, 12% on level 3, 6% on levels 4 to 6, 3% on levels 7 to 10, 1.8% on levels 11 to 19 and 1.2% on levels 20 to 25

Monthly New Market Development Bonus Scheme

The Monthly New Market Development Bonus Scheme or the MNMDBS rewards these affiliates for generating the following downline investment.

  • generate $10,000 in new investment volume across 3 unilevel team legs and get $1200 — Total downlive investment $30,000 (3 x $10,000)
  • generate $30,000 in new investment volume across 3 unilevel team legs and get $3600 — Total downlive investment $90,000 (3 x $30,000)
  • generate $100,000 in new investment volume across 3 unilevel team legs and receive $12,000 — Total downlive investment $300,000 (3 x $100,000)
  • generate $300,000 in new investment volume across 3 unilevel team legs and receive $45,000 — Total downlive investment $900,000 (3 x $300,000)
  • generate $500,000 in new investment volume across 3 unilevel team legs and receive $75,000 — Total downlive investment $1,500,000 (3 x $500,000)
  • generate $1,000,000 in new investment volume across three unilevel team legs and receive $150,000 — Total downlive investment $3,000,000 (3 x $1,000,000)

Monthly New Market Development Bonus Scheme resets every month

Rank Rewards

Prance Gold’s compensation plan has 5 affiliate ranks in it.

Each rank comes with a record, as follows:

  • Baron (generate 3 unilevel team legs with a $30,000 investment volume in each leg) — receive 2% ROI bonus.
  • Viscount (have 3 Baron ranks in your downline) — receive 4% ROI bonus.
  • Earl (have 3 Viscount ranks in your downline) — receive 6% ROI bonus.
  • Marquis (have 4 Earl ranks in your downline) — receive 8% ROI bonus.
  • Duke (have 4 Marquis ranks in your downline) — receive a 10% ROI bonus.

Joining Prance Gold

Joining the company’s affiliate membership is free. However minimum investment to avail the attached income opportunity is $1000, paid in Bitcoin (BTC) or Tether (USDT)

Conclusion

We are sure that you took notes from the first section of this article. Whatever we showed you, there is definitely a deal-breaker. However, let’s discuss some other points that we discovered through our extensive research.

The company claims of generating revenue through cryptocurrency arbitrage. And to our knowledge, no such activities exist as we could not find ample proof to back this claim.

Prance Gold is promoting its ‘Passive income’ opportunity all around the world. Hence, it is committing securities fraud because of the company not having any registrations with any financial regulator.

The only verifiable source of income entering into the company is the new investment. New money is used to pay the existing affiliates and will go on until new recruits stop resulting in a collapse.

Prance Gold is a Ponzi scheme, and we do not recommend it at all.