Religion and Multi-Level Marketing might seem an improbable combination but in the world of scams and scammers, nothing is impossible. Of course, scammers are always on the lookout for forums that could afford them a large customer base. Religion surely offers a large customer base. Also, clever scammers could bank on its “opium effect” to garner investors.
No, WishMoney is not a “religious” Ponzi scheme neither does it offer any ” religious”or “spiritual” product. It is the ties its owner, Jelson Becker, has with religion that makes WishMoney interesting to look at.
Becker’s ties to religion appear to be coordinated through Ativacao Profetica, a “school of prophetic activation” in Pernambuco, Brazil. Ativacao Profetica seeks to “empower the Body of Christ through ON LINE Training and Periodic Meetings in Affiliated Churches to our Mission Mobilization Network.”
Becker, on Ativacao Profetica’s website, is ” simple brother and in love with the Kingdom of God”. He is said to have been ” serving the Body of Christ for decades as an apostle or prophet missionary with an emphasis on signs and miracles … And more recently after 2009 he has served some local churches as a mentor and ministerial father.”
It seems that WishMoney is Becker’s first shot in the MLM world. Of course, there is nothing wrong with owning an MLM company. It is the illegitimacy of WishMoney that raises eyebrows.
As common with most Ponzi schemes, WishMoney has no underlying asset, business, service, or product that investors could invest in. All that it has to market is its affiliate membership. This feature qualifies WishMoney as a Pyramid scheme.
As expected, WishMoney places a lot of incentives on affiliate recruitment. It does this through its ten tiered ranking system. Individual investors looking to move up the ranks and earn more have to maintain a high level of investment ( this is called pay-to-play in the Ponzi scheme world.) and personally recruit a stipulated number of affiliates. The pressure to reinvest and to make others do the same is typical of Ponzi schemes.
WishMoney is, of course, swathe in commissions and bonuses: residual commissions, recruitment commissions, and matching bonuses. It also advertises an unbelievable 300% to 400% return on investment.
Understandably, a business has to network. But is so much emphasis paid on getting people in? Why is there so much pressure to bring in new affiliates? If WishMoney is as lucrative as advertised, it would be known to a few early adopters who would make it a very much guarded secret.
WishMoney runs on both the unilevel and binary structure. These structures places an affiliate atop a team with every personally recruited affiliate placed under them down an infinite number of levels. These structures help Wish Money to shuffle funds amongst affiliates thereby creating a semblance of earnings.
Although WishMoney claims to own an ecosystem that encompasses WishMoney Coin, a voip app, casino, e-commerce platform and travel service, there is no proof that it get revenue through these means. The only verifiable source of revenue for WishMoney is affiliate investments.
Wish Money is Becker’s ploy to rake in wealth for himself at the expense of many. Perhaps, he might be good at being a “simple brother” but the MLM world is not for attempting miracles. WishMoney is a Ponzi scheme waiting to crash. Investors had better be wary.