First Scrap offers no info on its web site about who owns or runs the corporate.
First Scrap’s web site area (“firstscrap.com”), was first registered in November 2020. The non-public registration was final up to date on July 2nd, 2022.
In an try to seem legit, First Scrap offers a random residential handle in Canada on their web site. For the aim of due-diligence, that is meaningless.
First Scrap’s web site went reside in mid 2021, coinciding with a launch on or round June.
In late Could 2022 First Scrap picked up their advertising and marketing recreation, with the introduction of “John Ronald”:
“John Ronald” is actually Daniel Pulyakh (Данил Пулях), an actor based mostly out of Moscow, Russia.
Because the Could 2022 promo vid, Russian scammers have employed extra actors to play the remainder of First Scrap’s govt group.
The above FaceBook publish suggests a rented workplace Boris CEO advertising and marketing video is on the best way.
As all the time, if an MLM firm will not be brazenly upfront about who’s operating or owns it, suppose lengthy and onerous about becoming a member of and/or handing over any cash.
First Scrap’s Merchandise
First Scrap has no retailable services or products.
Associates are solely in a position to market First Scrap affiliate membership itself.
First Scrap’s Compensation Plan
First Scrap associates make investments USD and cryptocurrency on the promise of marketed returns:
- Bronze – make investments $100 to $10,000 and obtain a 1.55% each day ROI
- Silver – make investments $10,001 to $35,000 and obtain a 1.85% each day ROI
- Gold – make investments $35,001 to $60,000 and obtain a 2.15% each day ROI
- Platinum – make investments $60,001 to $100,000 and obtain a 2.45% each day ROI
Notice that First Scrap expenses a 7% charge on all withdrawal requests. First Scrap associates are additionally solely in a position to withdraw twice a month.
The MLM facet of First Scrap pays on recruitment of affiliate buyers.
Referral Commissions
First Scrap associates earn a fee on funds invested by personally recruited associates.
- Bronze tier associates earn a 6% referral fee
- Silver tier associates earn a 7% referral fee
- Gold tier associates earn an 8% referral fee
- Platinum tier associates earn a 9% referral fee
Residual Commissions
First Scrap pays residual commissions by way of a binary compensation construction.
A binary compensation construction locations an affiliate on the high of a binary group, cut up into two sides (left and proper):
The primary degree of the binary group homes two positions. The second degree of the binary group is generated by splitting these first two positions into one other two positions every (4 positions).
Subsequent ranges of the binary group are generated as required, with every new degree housing twice as many positions because the earlier degree.
Positions within the binary group are crammed by way of direct and oblique recruitment of associates. Notice there is no such thing as a restrict to how deep a binary group can develop.
On the finish of every day Frist Scrap tallies up new funding quantity on either side of the binary group.
Associates are paid 8% of funds invested on their weaker binary group facet.
- Bronze tier associates can earn as much as $1000 a day
- Silver tier associates can earn as much as $3500 a day
- Gold tier associates can earn as much as $7500 a day
- Platinum tier associates can earn as much as $10,000 a day
As soon as paid out on, quantity is matched in opposition to the stronger binary group facet and flushed.
Any leftover quantity on the stronger binary group facet is carried over.
Becoming a member of First Scrap
First Scrap affiliate membership is free.
Full participation within the hooked up revenue alternative requires a $100 to $100,000 preliminary funding.
First Scrap solicits funding spend money on USD by means of Good Cash, in addition to varied cryptocurrencies.
First Scrap Conclusion
First Scrap’s represents it generates exterior income by way of recycling operations.
First Scrap is a enterprise division of First Scrap Company Restricted.
A world main Non-public Restricted steel recycler, our operations embody the shopping for, processing and promoting of ferrous and non-ferrous recycled metals.
Like First Scrap’s fictional executives, its recycling operations don’t exist.
What now we have here’s a typical Boris CEO Ponzi scheme.
As with all MLM Ponzi schemes, as soon as affiliate recruitment runs dry so too will new funding.
It will starve First Scrap of ROI income, finally prompting a collapse.
The maths behind Ponzi schemes ensures that once they collapse, the vast majority of individuals lose cash.
