GetEasy Scam Becomes iGetMania Scam
The GetEasy scam is in the process of changing over to a new name to avoid the problems they have been having with their old company name. Problems like banks not wanting to deal with them.
Recently the AMF has issued a warning for potential investors about this company:
How the GetEasy iGetMania Scam works:
Through membership programs, members of GetEasy and iGetMania subscribe to packages (or “packs”) via the Internet. They claim the investment helps finance the acquisition of global positioning equipment for leasing by the firm. Revenues are shared between investors and the firm, and investors are not required to handle any management matters. In turn, investors are urged to recruit two other members and thereby create two teams. New members are then encouraged to recruit two other members each, and so on. Revenue is distributed based on the activity generated by members of each team by way of bonuses, commissions and a point system. Members are lured by promises of hefty profits. – Source AMF
Here is how GetEasy explains what they do.
The company offers no proof that the profits that are made are from anything other than new investor money. Any legitimate company would be able to provide this information for people that are investing their money.
iGetMania has no products or services for you to retail. Below is a screen shot of what they offer you to buy and sell. In my opinion, it is clear they are offering you shares in their Ponzi scheme.
In the iGetMania compensation plan, they claim to have a fund setup in Luxembourg. This is what Luxembourg had to say about that fund.
The Commission de Surveillance du Secteur Financier (CSSF) warns the public of the activities of an entity named iGetMania which claims to have established in Luxembourg an alleged investment fund named ACG1 regulated by the CSSF. The CSSF informs the public that neither iGetMania nor ACG1 have been granted the required authorization to provide financial services in or from Luxembourg and that they are not subject to the supervision of the CSSF. Luxembourg, 21 January 2015 – Source Cssf.lu
Here is the announcement about why iGetMania was created:
Here is Tiago Fontoura the CEO of GetEasy explaining why he is having problems paying people. He has now resigned from the company.
The following notice is now appearing when you try to access iGetMania.
GetEasy iGetMania Scam Conclusion
In my opinion, it is clear what is going on with this company. They are not being honest about where profits are coming from and what funds they have setup. They are a Ponzi investment scheme that is pretending to be something else. Save your money and avoid this scam.