MLC fails to supply possession or govt data on its web site.
MLC’s web site area (“mlc.well being”), was privately registered on September twenty ninth, 2022.
If we open up MLC’s advertising presentation, we discover the doc is titled in Kazakh:
This means somebody from and/or with ties to Kazakhstan is behind MLC.
Different prospects the place Kazakh is usually spoken embody China’s Xinjiang Uyghur Autonomous Area, Mongolia, Tajikistan, Turkmenistan, Uzbekistan, and Afghanistan.
MLC’s web site additionally accommodates a vKontakte socail media hyperlink, suggesting ties to Russia (or on the very least Russian audio system).
That brings us to MLC’s social media profiles, on which it’s revealed “Ivan Saltanov” is CEO of the corporate.
Saltanov, who speaks Russian, has been showing in MLC advertising movies relationship again to August 2022.
Should you’re questioning how MLC’s social media profiles pre-date its present area registration, that’s as a result of MLC initially launched as MLC Engineering.
MLC has scrubbed its FaceBook web page previous to 2022. There’s one August 2022 French language video left on MLC’s YouTube channel, which suggests “OLO” was some “Membership 100” funding scheme:
Partnership program and member privileges of “Membership 100” TODAY, August 11 at 6:00 p.m. Moscow time (UTC+3), it is possible for you to to tune in to a web based webinar, throughout which Ivan SALTANOV, Founder and CEO from the corporate OLO, will inform you about the benefits of collaborating within the “Membership 100” of the MLC Engineering challenge.
The unique mannequin was some “franchisee” nonsense. After which Olo was rebooted as Olo DeFi, a crypto app scheme constructed round “OLOb token”.
On August third, 2022, the Central Financial institution of Russia issued a pyramid scheme fraud warning for Olo, Associate Membership 100, MLC Engineering and OLO DeFi Ecosystem.
This seems to have prompted the rebranding to MLC Engineering and now simply MLC.
Ivan Saltanov doesn’t exist exterior of OLO’s and MLC’s advertising materials. He’s a first-rate Boris CEO candidate however has featured in sufficient advertising movies to counsel in any other case.
It’s value noting the very same Kazakh doc title was additionally utilized by EcoLine, a just lately launched MLM Ponzi scheme.
I can’t definitively verify but it surely’s probably the identical scammers are behind OLO and MLC.
As all the time, if an MLM firm isn’t overtly upfront about who’s working or owns it, assume lengthy and laborious about becoming a member of and/or handing over any cash.
MLC’s Merchandise
MLC has no retailable services or products.
Associates are solely capable of market MLC affiliate membership itself.
MLC’s Compensation Plan
MLC associates put money into digital shares at $0.001 every.
MLC represents shares will attain $1, permitting associates to money out extra then they invested.
MLC associates are additionally promised 50% of the corporate’s income in dividends.
This income will generated from the purported sale of blood glucose displays.
The MLM aspect of MLC pays on recruitment of affiliate traders.
MLC Affiliate Ranks
There are 5 affiliate ranks inside MLC’s compensation plan.
Together with their respective qualification standards, they’re as follows:
- Associate – enroll as an MLC affiliate
- Specialist – make investments at the least $250, recruit two or extra associates who’ve every invested at the least $100, and generate at the least $450 funding between your personal funding and that of personally recruited associates
- Grasp – make investments at the least $500, recruit three or extra associates who’ve every invested at the least $200, and generate at the least $2000 funding between your personal funding and that of personally recruited associates
- Knowledgeable – make investments at the least $1500, recruit three Grasp or greater ranked associates, and generate at the least $5000 funding between your personal funding and that of personally recruited associates
- Skilled – make investments at the least $5000, recruit three Knowledgeable or greater ranked associates, and generate at the least $10,000 funding between your personal funding and that of personally recruited associates
Referral Commissions
MLC pays referral commissions through a unilevel compensation construction.
A unilevel compensation construction locations an affiliate on the high of a unilevel staff, with each personally recruited affiliate positioned straight beneath them (degree 1):
If any degree 1 associates recruit new associates, they’re positioned on degree 2 of the unique affiliate’s unilevel staff.
If any degree 2 associates recruit new associates, they’re positioned on degree 3 and so forth and so forth down a theoretical infinite variety of ranges.
MLC caps payable unilevel staff ranges at twenty.
Referral commissions are paid as a share of funds invested throughout these twenty ranges primarily based on rank:
- Companions earn 15% on degree 1 (personally recruited associates), 4% on degree 2, 2% on degree 3 and 1% on degree 4
- Specialists earn 15% on degree 1, 5% on degree 2, 4% on degree 3, 2% on degree 4 and 1% on degree 5
- Masters earn 15% on degree 1, 7% on degree 2, 5% on degree 3, 3% on degree 4, 2% on degree 5, 1% on degree 6 and 0.5% on degree 7
- Consultants earn 15% on degree 1, 7% on degree 2, 5% on degree 3, 4% on degree 4, 3% on degree 5, 1% on degree 6 and 0.5% on ranges 7 to 9
- Professionals earn 16% on degree 1, 7% on degree 2, 5% on degree 3, 4% on degree 4, 3% on degree 5, 1% on degree 6, 0.5% on ranges 7 to 9 and 0.3% on ranges 10 to twenty
Becoming a member of MLC
MLC affiliate membership is free.
Full participation within the connected earnings alternative requires a minimal $100 funding.
MLC Conclusion
Earlier than we get into MLC’s MLM alternative, I need to observe the appropriation of current firm names.
Olo is an app supply firm. OLO the Russian pyramid scheme simply took that concept and expanded it (observe that none of this really ever existed):
MLC Engineering was {an electrical} consulting agency primarily based out of Oregon. As per its web site, MLC Engineering shut down in 2022.
One same-named firm I might write off as coincidental. Two appears intentional.
MLC’s blood glucose monitoring ruse sees the corporate signify traders will generate $10 million from an preliminary $10,000 funding.
That is primarily based on advertising projections and guarantees, none of which maintain any water.
If we take a look at the historical past of the MLC, we’ve some franchisee nonsense connected to advertising projections and guarantees. Then it was a short crypto rip-off, and now it’s blood glucose displays.
There’s a sample of soliciting funding and by no means delivering. That’s as a result of the actual enterprise is pyramid recruitment.
So far as its MLM enterprise goes, MLC is soliciting funding and paying commissions on recruitment of affiliate traders. Nothing is marketed or offered to retail prospects, making MLC a pyramid scheme.
The funding aspect, despite the fact that its not paying something out, constitutes securities fraud.
MLC can not promote shares in its firm, digital or in any other case, with out registering with monetary regulators.
MLC offers no proof it has registered with monetary regulators in any jurisdiction.
As an alternative of acknowledging its Russian roots MLC represents shell firm ties to St. Lucia, a tax haven within the Caribbean.
Registering a shell firm, in a tax haven or elsewhere, doesn’t equate to registration with monetary regulators.
As with all MLM pyramid schemes, as soon as affiliate recruitment dries up so too will commissions. This can finally result in MLC collapsing.
The maths behind MLM pyramid schemes ensures that once they collapse, nearly all of individuals lose cash.
