The Argent Global Network Scam Wants Your Support
“As you know, the reason that led to the initial changes to AGN’s business model is a result of the U.S. Circuit Court ruling in June of last year. That ruling rendered our previous business model, which included the purchase and management of advertising packages, at odds with U.S. regulations. ”
Below is the email they sent out to their members to gather support and try to re-launch the scam.
March 28, 2015
Dear AGN Members,
We would like to thank you for your unwavering support, first during our period of restructuring, and then continuing into the re-launch.
With each decision AGN makes, we make it with our members in mind. The work that we do is always done while keeping in mind the effect that it will have on our members.
As you know, the reason that led to the initial changes to AGN’s business model is a result of the U.S. Circuit Court ruling in June of last year. That ruling rendered our previous business model, which included the purchase and management of advertising packages, at odds with U.S. regulations. The Circuit Court ruled that this was no longer an acceptable practice, and we moved to make a change to address this ruling.
As part of these changes, we also saw an opportunity to both protect members’ funds and to build revenue to help pay members, by switching to an eWallet processor that allowed AGN to share in the revenues. ArgentPay, our white label through Rapid Pay Global (RPG) platform, was our eWallet of choice. This processor was meant to provide solutions for us, to make both funding and processing easier.
Unfortunately, this move did not work out the way we had hoped. The RPG has had challenges in providing the level of service that our members have come to expect. This caused delays in members being able to fund their accounts, which led to a decision to suspend operations for a period of time while we worked to restructure the business. The restructure was an opportunity to enhance our business model to bring AGN into alignment with U.S. and international rules, as well as a chance for our eWallet servicer, to resolve some of the challenges they were experiencing.
We emerged out of the restructuring period with lots of energy and optimism from our members. We had great expectations for the work that had been completed, and were looking forward to fewer systemic issues that would reduce the stress on the business. There are still ongoing challenges for our members all over the world with the ability to fund into AGN.
The payout from the Profit Credits is causing additional financial strain on the company. The restructuring paradigm is different from an initial launch because members are a bit more apprehensive. Members tend to adopt more of a ‘wait and see’ posture. Members may pay their first membership in order to qualify for withdrawal, but do not necessarily go out to aggressively sponsor people or produce ad sales. In the past members were recruiting a lot more aggressively.
Even though a percentage of our membership did resume recruitment and other activities that support the business, the collective support of our members was not sufficient to support the expenses of the Profit Share. Our reality is that the level of activity that we had, has not been enough to support the withdrawals. We have been looking at outside funding sources to bridge the gap until ad revenue picks up. Unfortunately, that has not yet come to fruition.
Therefore, due to lack of adequate funding at this time, we must suspend earnings from Profit Credits, and restrict that portion of the weekly withdrawal. We will continue to payout the matrix earnings. This will require the requests made on March 2nd and after, to be reversed and resubmitted as matrix-only payouts.
Please note that we are suspending the profit credits only temporarily. The suspension is an opportunity to create revenue streams to support the profit share, with the intention of building the business to the point where the traffic that we have can support the Profit Credit part of the business. We want to work toward building more traffic, in order to have the funding sources that support profit share to become sufficient. We will be releasing an aggressive plan where members can engage and help us build the revenue so that we can rebuild the profit share system adequately.
We have put together and implemented a suite of tools and features that were aimed at creating value and sales that would in turn support the Profit Share. We created the ad posting and ad viewing platforms, AGN Social, AGN Ads, along with AGN 123 and the suite of tools in the Business Center. This would include AGN Blogs, Conferences, Webinars, Members, and Omnipages. All of this was done to help support our profit credits.
Our plan is to move towards the end goal of creating a sustainable enterprise through the use of the platform and tools that have been created. In order to do this, we need your help to build towards the long-term business model that we have talked about. The tools and platforms are a means of driving revenue. You can help us reach this goal by continuing to place and view ads daily. These activities will help to sustain our Alexa ranking while we prepare the advertising platform to create an additional income stream for members through the selling of ad space. The revenue from the selling of ad space will be used as a supplement, to help the company return to paying the profit credits faster. Not only will your participation help us to come back sooner, but members will also receive a 30% commission for all ad sales.
Thank you once again for your continued support as we work through these challenges.
Argent Global Network LTD.