InovoCB fails to offer verifiable possession or government info on its web site.
InovoCB names Jimmy Nogues and John Martinez and co-founders on its web site.
No details about both Nogues or Martinez is offered. Nor do Nogues and Martinez seem to exist outdoors of being named on InovoCB’s web site.
It’s unclear whether or not Nogues and Martinez, as represented on InovoCB’s web site, truly exist.
InovoCB’s web site area (“inovocb.com”), was privately registered on September twenty ninth, 2023.
It must be famous that InovoCB’s web site defaults to French. This implies hyperlinks to a French-speaking admin.
In an try to look reputable, on its web site InovoCB represents it’s primarily based out of Ontario, Canada. Whether or not InovoCB has any precise ties to Ontario is unclear (unlikely).
As all the time, if an MLM firm isn’t overtly upfront about who’s operating or owns it, suppose lengthy and onerous about becoming a member of and/or handing over any cash.
InovoCB’s Merchandise
InovoCB markets a $100 a month cashback scheme.
InovoCB subscribers are in a position to declare again 20% on accepted receipts, capped at $200 a month.
InovoCB associates can even entry the scheme and are capped at $300 a month.
Notice there’s additionally a free subscription choice however this has nothing to do with InovoCB’s MLM alternative.
InovoCB’s Compensation Plan
InovoCB retail and affiliate subscribers make investments $100 a month.
By importing of receipts (a pointless activity we’ll focus on extra within the conclusion of this assessment), InovoCB retail and affiliate subscribers are in a position to obtain as much as $200 and $300 a month respectively.
The MLM aspect of InovoCB pays on recruitment of retail and affiliate subscribers:
- VIP – recruit and keep three subscribers and obtain $4 a day
- Elite – keep three personally recruited affiliate subscribers, have twelve complete subscribers in your downline and obtain $15 a day
- Govt – keep three personally recruited affiliate subscribers, have forty complete subscribers in your downline and obtain $24 a day
- 1 Star Govt – keep three personally recruited affiliate subscribers, have eighty complete subscribers in your downline and obtain $40 a day
- 2 Star Govt – keep three personally recruited affiliate subscribers, have 100 and fifty complete subscribers in your downline and obtain $75 a day
- 3 Star Govt – keep three personally recruited affiliate subscribers, have 300 complete subscribers in your downline and obtain $120 a day
- 4 Star Govt – keep three personally recruited affiliate subscribers, have 5 hundred complete subscribers in your downline and obtain $200 a day
- 5 Star Govt – keep three personally recruited affiliate subscribers, have seven hundred and fifty complete subscribers in your downline and obtain $250 a day
- Ambassador – keep three personally recruited affiliate subscribers, have one thousand complete subscribers in your downline and obtain $300 a day
- Silver Ambassador – keep three personally recruited affiliate subscribers, have two thousand complete subscribers in your downline and obtain $500 a day
- Gold Ambassador – keep three personally recruited affiliate subscribers, have 4 thousand complete subscribers in your downline and obtain $750 a day
- Platinum Ambassador – keep three personally recruited affiliate subscribers, have six thousand complete subscribers in your downline and obtain $1000 a day
- Diamond Ambassador – keep three personally recruited affiliate subscribers, have eight thousand complete subscribers in your downline and obtain $2000 a day
- Presidential Inovo – keep three personally recruited affiliate subscribers, have sixteen thousand complete subscribers in your downline and obtain $3000 a day
Notice that for VIP via 5 Star Govt, not more than 50% of required downline subscribers can come from anybody recruitment leg.
For Ambassador via Presidential Inovo, this requirement is diminished to 35%.
Becoming a member of InovoCB
InovoCB affiliate membership is $50 a month.
InovoCB Conclusion
InovoCB is a task-based Ponzi scheme. The pointless activity InovoCB has its buyers do is add receipts.
Returns are dressed up as cashback, and to that finish InovoCB has a bunch of “huge knowledge” baloney on their web site:
For what must be apparent causes, importing receipts from random retailers wherever on the planet doesn’t generate income for InovoCB.
The solely verifiable income getting into InovoCB is new funding. Which begs the query, if InovoCB is producing ROI income through promoting receipt knowledge, what do they should cost a subscription charge for?
The receipts/cashback activity Ponzi mannequin was pioneered by Saivian again in 2015. InovoCB is just about a clone of Saivian, primarily concentrating on French audio system.
Following arrests in China, Saivian collapsed in October 2017. The SEC sued Saivian founder Eric J. Dalius in November 2018.
As alleged by the SEC, Saivian was a Ponzi scheme that defrauded customers out of $165 million.
Opposite to their claims, Saivian didn’t generate any income from the sale of POS receipts.
Actually, Saivian by no means had any advertising and marketing companions (or promoting companions) and by no means made any severe efforts to promote or in any other case monetize the information in its Cashback Members’ POS receipts.
As an alternative, Saivian’s income was generated nearly completely from membership gross sales to Cashback Members themselves.
Like a traditional Ponzi scheme, Saivian happy promised returns to some buyers — within the type of 20% cashback on buying purchases — via the investments of different buyers moderately than any underlying, reputable, business exercise.
This is identical Ponzi mannequin InovoCB is utilizing.
Saivian’s collapse prompted widespread client losses. Dalius would go on to settle with the SEC for $24 million in 2023.
There isn’t a indication InovoCB is wherever the dimensions Saivian was however regardless, the result would be the identical.
As soon as InovoCB investor recruitment inevitably dries up, so too will ROI income. This may see InovoCB collapse, ensuing within the majority of buyers dropping cash.