SEC Issues New Warning Against Global InterGold (Emgoldex)

Members of Global Intergold are spreading rumors that the company has been registered with the Securities and Exchange Commission (SEC). A short check at SEC website gives nothing but a reserved name “Global Intgold”. A reserved name does not mean a “registered company”.

In response, SEC has issued new warning informing the public to stay away from the bogus scam which already victimized dozes of OFWs in Taiwan and United Arab Emirates in earlier reports.

SEC has reiterated that the company is not registered and has no authority to solicit investments.

Global Intergold earlier has changed its name from Emgoldex to lure more investors. The owners wanted to distance themselves from its old name “Emgoldex” because it is already linked to bad press and publicity.

As with EmGoldex, who’s running the show is not disclosed. Who exactly Global InterGold are regulated by is unclear.

Recently Global InterGold held a “grand opening” event in Saint Petersburg, Russia. In attendance were top Global InterGold investors, but whether or not management and owners were there is unclear.

Alexa currently estimate Russia to be the largest source of traffic to the Global InterGold website at 15.3%. The Philippines is a close second at 15.1%.

In any event from an MLM business opportunity perspective, Global InterGold is the same scam EmGoldex was. The only source of revenue is affiliate investment (nobody is buying gold from the site), with ROI payouts to affiliates dependent on continued new investment.

A change of company name has no effect on the business model, nor will it throw off any regulators continuing to investigate the scheme.

Global Intergold’s diversionary tactic has been exposed when Dubai authorities said it was not registered in Dubai and it forged its documents. In Germany, public registry of companies also denied Global Intergold’s registration.

Global Intergold is now returning to Russia where the original operators – the Russian scammers started it.

It may have helped dozens of Filipinos, but thousands also lost their hard-earned money, especially the OFW’s who are mostly gullible, greedy, and ignorant.

/Lily Lopez/ Related Sources: Sec.gov.ph /  Behindmlm.com

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