Ever wondered how illicit MLMs came about? Illegal pyramid and Ponzi schemes, phony investment schemes, and legitimate multi-level marketing firms have sprung up and thrived due to some factors. They include structural factors associated with increased inequality, rapid change brought on by growing financialization, and efforts to bring society’s “unbanked” segments into the official financial system.

Ponzi schemes, which prey on investors’ greed or desperation, have defrauded people worldwide out of billions of dollars. Gollong Solar fits the description. While the company pretends to be legit, it is a “click a button” App Ponzi, with nothing to offer but unleash investment frauds. 

 All schemes share the traits of having unreasonably large or constant returns as well as hazy or ambiguous business models. Investors are persuaded to ignore how the gains are produced because of the substantial returns on offer. In most cases, a cunning Ponzi scheme will attempt to link to a product that is at least somewhat genuine, ideally not one whose ROI is straightforward to determine. Other ponzi schemes may claim to have the support of large industries and the government to offer substantial profits to “investors.” 

Ponzi scheme operators frequently used cryptos in the past because few people knew how they functioned. As time passes, they become more cunning and may use advanced technologies, marketing tactics, and other techniques that pretend to be formal, legal, and sincere. One popular method is paying investors for new recruitments.

To ensure that these entities don’t dupe you, you need extensive exposure to how MLMs work. This will help you in, among other things, discerning a legalized crypto companies or transparent forex brokers and detecting red flags on a shady affiliate marketing company. Read the below review for more insight on this. 

Gollong.online Review

The company originally targeted South Africa nationals with the domain golong.org. However, the company has reconstituted itself and now targets nationals in French-speaking Central Africa, including Chad, Gabon, DRC, Equatorial Guinea, Cameroon, and Central Africa Republic. Gollong Solar’s value proposition is renting solar equipment. Investors allegedly only need to log into the App and click the button for the rented equipment. Does that even make sense?

 Upon checking with the whois, we found that the entity registered its domain on 4 October 2022. The company is not even six months in the market, all the more reason you should avoid it. We say so because newbie companies are risky since these enterprises often have short operating histories and are less solid than established companies.

Additionally, a lack of financial means makes them more susceptible to changes in the market and recessions. Likewise, mismanagement and fraud may be more common in budding businesses, costing investors money. Moreover, nascent businesses might not have a track record of success or a solid industry reputation, making it challenging to draw in new investors or clients.

 Gollong Solar doesn’t offer any goods or services for retail. Investors can only promote Gollong Solar affiliate membership. This means that it utilizes a Ponzi model. This company is not in a position to make you promises because the model, as mentioned earlier, is shaky and can go under at any time.  

Gollong Solar Background & Contact Details

The company has not provided any executive information. Such flops are typical of entities that do not want you to track them down. Regardless of missing background credentials, we figured Chinese fraudsters run it. We know this because its website source code contains some Chinese wordings. So many things about this company don’t add up, and there is no reason to trust it. 

Remembering that customer support is dynamic and always evolving, it is crucial to routinely assess and reassess the standard of customer service a business offers to ensure that it satisfies the expectations of its clients. A good way to vet the quality of customer service is consistency across different channels and interactions (e.g., phone, email, in-person). It speaks volumes about commitment to customer satisfaction. 

However, these won’t count on the entity’s case. Regardless of the channels available, desist from contacting them. If you do, you will be playing yourself right into their trap!

Deposit & Withdraw Policy

To invest with this entity, you should pay the deposit through XAF or Tether (USDT). XAF is collected through Orange Bank and MTN MoMo. Gollong Solar is deceiving MTN MoMo and Orange Bank into giving it payment processor services by using different domains, “ocpay.info” and “kmlgopay.com.” The red flags cannot be any more obvious. 

The fact that the company asks for crypto payment is another warning sign. Not only are crypto transactions anonymous, but they are also irreversible and prone to hacking, among other digital security threats. Stick to authorized companies, accepting traditional methods, especially credit cards. This gives you a chance to reverse. 

Membership & Investment Plan

Joining Gollong Solar is free. However, members must deposit at least 3000 XAF to participate in the alleged investment opportunity. The entity offers eleven investment plans. The GL-1 and VIP GL-1 require at least 3000 XAF. For the GL-2 and VIP GL-2, investors should part with XAF 10000. 

Likewise, those interested in the Super 1 or Super 2 should pay XAF 15000 and XAF 40000, respectively. For the GL-3 and VIP GL-3, investors deposit XAF 50000. Similarly, the GL4 and associate VIP group members deposit XAF 80000. Lastly, the Super 3 level has a funding threshold of XAF 100000. 

Gollong Solar Compensation Plan

The GL-1 members earn an ROI of 187 % for 20 days, while its VIP segment earns 206 % for over 20 days. Next, the GL-2 level investors earn 150 % returns for over 30 days. Investors in the GL-4 level earn returns of 175 % for 35 days, while its VIP members get 189 % ROI for 35 days. 

The ROIs for VIP GL-2, GL-3, VIP GL-3, super 1, and super 3 are unspecified, which is suspicious. Also, the recruitment commission details are unavailable. Such omissions should raise eyebrows because this company hides material information from you. Again, be wary of such missing details because they provide leeway for further manipulation. Pure logic; why would you invest with an entity that is not telling you all there is to tell?

Regulation

Gollong Solar is an unregulated company. Indeed, it is an iteration of a Ponzi that had bad publicity in South Africa due to how it bamboozled naïve investors. Another giveaway that it is a rogue company is it withholds information that regulated entities should publicize. 

That said, Gollong Solar is one company you should not engage in any dealings with, as it is a recipe for an investment blunder. In the event of insolvency, fraud, or other financial problems, unlicensed businesses like this do not have the same protection as organizations subject to regulations.

The absence of control and regulation further makes it challenging for investors to pursue legal action if they are scammed or suffer financial loss due to dealing with an illegal organization. You should not gamble on your hard-earned money when you can get value elsewhere. 

Our Take

Unscrupulous MLM companies’ value proposition usually revolves around earning crazy amounts of money for new members recruited. Of course, the offer is hard to resist, especially for those with a considerable appetite for risk. However, being a risk seeker doesn’t mean you should lower your guard. The instant you do so, you become a victim of ponzi MLMs like Gollong Solar, which are preying on gullible investors. 

 With “click a button” Ponzis on the rampage, due diligence is crucial. This will allow you to vet MLM entities to weed out the dubious ones. Chooose legalized crypto companies or transparent forex brokers, you have a shot at earning reasonable returns for your direct sales.  

 

 

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