Odecent fails to offer possession or government data on its web site.
Odecent’s web site area (“odecent.com”), was first registered in 2022. The non-public registration was final up to date on Could twenty second, 2024.
Odecent got here to BehindMLM’s consideration courtesy of a reader tipoff. Mentioned tipoff led us to a September twelfth recording that includes Validus co-founder Mansour Tawafi.
Validus was a Dubai Ponzi scheme that collapsed in April 2023. Within the September 2024 video, Tawafi states he’s “transferring on” from Validus investor losses with Odecent.
This video immediately is to tell everybody about … my resolution to maneuver on with a brand new firm known as Odecent and be part of my outdated companions as a part of what we consider shall be an excellent resolution.
Tawafi goes on to disclose Odecent was really a failed Validus reboot launch in late 2023;
So round two months in the past my companions from Validus, Billal and Salman, they got here to me they usually began talking concerning the product that they had been engaged on even earlier than we met.
So earlier than Validus they already began engaged on some superb merchandise they usually had a staff that was growing these merchandise for the final three years.
We additionally tried to launch this in Validus. A few of chances are you’ll bear in mind Fingenius was a product in direction of the top of Validus.
In direction of the top of 2023 we acquired a stage the place we wished to… we really gave it to some leaders to check however it didn’t run very efficiently on the time.
In January we wished to launch this however after all after the stop and desist order from the DFSA in mid December, the corporate turned, y’know, operationally inactive.
Tawafi is referring to a Validus securities fraud warning issued by the Dubai Monetary Providers Authority on December twenty second, 2023.
So my companions, they got here to me and stated they wish to begin with this product now once more, they usually have created an entire system for it they usually’re able to do one thing.
Tawafi states he shall be “taking a place, taking a task” inside Odecent. As of filming nevertheless that position hasn’t been finalized.
The “Billal” and “Salman” Tawafi refers to are Billal Ali and Salman Shahzad.
Validus advertising and marketing cites Billal Ali as a co-founder of the Ponzi scheme:
Salman Shahzad seems to be a prime Validus Ponzi promoter from the UK:
One other title we are able to attache to Odecent is Phil Moser, aka Philippe Moser. Moser hosted the Odecent prelaunch webinar, held on or round September 1st.
Moser, who seems to have ties to Canada, the US and Colombia, was a Validus government.
Moser was instrumental in recruiting Validus victims throughout Africa and South America.
Previous to Validus Moser made a reputation for himself in ACN. Sooner or later Moser cut up from ACN to hitch NeXarise, an MLM firm launched by former ACN promoters in 2020.
Conspicuously absent from Odecent advertising and marketing is Parwiz Daud and Howard Buddy.
Following the collapse of their post-OneCoin Ponzi AuLives, Parwiz Daud and Mansour Tawafi launched Validus in 2021.
Howard Buddy was Validus’ CEO and, at the least on the time he surfaced, gave the impression to be a random finance bro from Europe.
Neither Buddy or Daud have made any public appearances since Validus’ collapse. They’re each presumed to be laying low in Dubai.
As with Validus, Odecent seems to be operated from Dubai:
Because of the proliferation of scams and failure to implement securities fraud regulation, BehindMLM ranks Dubai because the MLM crime capital of the world.
BehindMLM’s pointers for Dubai are:
- If somebody lives in Dubai and approaches you about an MLM alternative, they’re attempting to rip-off you.
- If an MLM firm relies out of or represents it has ties to Dubai, it’s a rip-off.
If you wish to know particularly how this is applicable to Odecent, learn on for a full overview.
Odecent’s Merchandise
Odecent has no retailable services or products.
Associates are solely in a position to market Odecent affiliate membership itself.
Odecent affiliate membership offers entry to an automatic buying and selling bot.
Odecent’s Compensation Plan
Odecent associates pay a subscription to entry a purported AI automated buying and selling bot:
Managed buying and selling subscriptions
- A50 – $50
- A100 – $100
- A250 – $250
- A500 – $500
- A1000 – $1000
- A3000 – $3000
- A5000 – $5000
- A10000 – $10,000
Personal alternate buying and selling account subscriptions
- B500 – $500 for 50 weeks entry, can make investments as much as $5000 with the bot
- B1000 – $1000 for 60 weeks entry, can make investments as much as $10,000 with the bot
- B3000 – $3000 for 60 weeks entry, can make investments as much as $30,000 with the bot
- B5000 – $5000 for 70 weeks entry, can make investments as much as $50,000 with the bot
- B10000 – $10,000 for 70 weeks entry, can make investments as much as $100,000 with the bot
- B20000 – $20,000 for 70 weeks entry, can make investments as much as $200,000 with the bot
- B50000 – $50,000 for 70 weeks entry, can make investments as much as $500,000 with the bot
Word that, relying on which subscription is chosen, a 600% ROI can expire a subscription early (word there seems to be a 500% to 700% vary however specifics aren’t offered).
Word the 600% ROI cap consists of commissions and bonuses earned via via Odecent’s MLM alternative.
If a 600% ROI is reached earlier than an Odecent subscription expires, the subscription ends regardless. On this occasion subscription renewal is required to proceed incomes.
The MLM aspect of Odecent pays on recruitment of affiliate subscribers.
Odecent Affiliate Ranks
There are ten affiliate ranks inside Odecent’s compensation plan.
Together with their respective qualification standards, they’re as follows:
- Staff Chief – generate $5000 in subscription payment quantity on either side of the binary staff
- Staff Supervisor – generate $15,000 in subscription payment quantity on either side of the binary staff
- Senior Supervisor – generate $30,000 in subscription payment quantity on either side of the binary staff
- Director – generate $60,000 in subscription payment quantity on either side of the binary staff and have two Senior Administrators in your downline
- Senior Director – generate $150,000 in subscription payment quantity on either side of the binary staff and have ttwo Administrators in your downline
- World Director – generate $300,000 in subscription payment quantity on either side of the binary staff and have two Senior Administrators in your downline
- President – generate $600,000 in subscription payment quantity on either side of the binary staff and have three World Administrators in your downline
- Senior President – generate $1,500,000 in subscription payment quantity on either side of the binary staff and have three Presidents in your downline
- World President – generate $5,000,000 in subscription payment quantity on either side of the binary staff and have three Senior Presidents in your downline
- Crown President – generate $8,000,000 in subscription payment quantity on either side of the binary staff and have 4 World Presidents in your downline
Referral Commissions
Odecent associates earn a referral fee on the primary subscription paid by recruited associates.
- recruit an automatic buying and selling subscription affiliate and obtain a ten% referral fee
- recruit an personal alternate buying and selling account subscription and obtain a 15% referral fee
Referral commissions on subscription renewals are paid as follows:
- renewal of an automatic buying and selling subscription pays 6%
- renewal of an personal alternate buying and selling account subscription pays 15%
Residual Commissions
Odecent pays residual commissions by way of a binary compensation construction.
A binary compensation construction locations an affiliate on the prime of a binary staff, cut up into two sides (left and proper):
The primary stage of the binary staff homes two positions. The second stage of the binary staff is generated by splitting these first two positions into one other two positions every (4 positions).
Subsequent ranges of the binary staff are generated as required, with every new stage housing twice as many positions because the earlier stage.
Positions within the binary staff are stuffed by way of direct and oblique recruitment of associates. Word there isn’t any restrict to how deep a binary staff can develop.
On the finish of every week Odecent tallies up subscription payment quantity throughout either side of the binary staff.
Residual commissions are paid as a share of subscription payment quantity on the weaker binary staff aspect, primarily based on rank:
- Staff Leaders via Senior Administrators earn a 7% residual fee fee, capped at $35,000 every week
- World Administrators and Presidents earn an 8% residual fee fee, capped at $40,000 every week
- Senior Presidents and World Presidents earn a 9% residual fee fee, capped at $45,000 every week
- Crown Presidents earn a ten% residual fee fee, capped at $50,000 every week
Matching Bonus
Odecent pays a Matching Bonus by way of a unilevel compensation construction.
A unilevel compensation construction locations an affiliate on the prime of a unilevel staff, with each personally recruited affiliate positioned straight beneath them (stage 1):
If any stage 1 associates recruit new associates, they’re positioned on stage 2 of the unique affiliate’s unilevel staff.
If any stage 2 associates recruit new associates, they’re positioned on stage 3 and so forth and so forth down a theoretical infinite variety of ranges.
Odeccent caps the Matching Bonus at 4 unilevel staff ranges.
The Matching Bonus is paid as a share of residual commissions earned throughout these 4 ranges primarily based on rank:
- Staff Managers earn a 5% match on stage 1 (personally recruited associates)
- Senior Managers earn a 5% match on ranges 1 and a couple of
- Administrators earn a 5% match on ranges 1 to three
- Senior Administrators and better earn a 5% match on ranges 1 to 4
Word that no matter rank, the Matching Bonus is capped at $15,000.
Rank Achievement Bonus
Odecent rewards associates for qualifying at Staff Chief and better with the next one-time Rank Achievement Bonuses:
- qualify at Staff Chief and obtain $50
- qualify at Staff Supervisor and obtain $200
- qualify at Senior Supervisor and obtain $400
- qualify at Director and obtain $800
- qualify at Senior Director and obtain $150,000
- qualify at World Director and obtain $4000
- qualify at President and obtain $8000
- qualify at Senior President and obtain $20,000
- qualify at World President and obtain $100,000 or a Porsche Cayenne
- qualify at Crown President and obtain $200,000 or a Lamborghini
Promotional Bonus
Odecent gives associates a number of time-based Promotion Bonuses:
- buy a B20000 subscription inside 30 days of becoming a member of Odecent and obtain a Dubai retreat
- qualify at Senior Supervisor inside 30 days of becoming a member of Odecent and obtain a (one other?) “Dubai retreat”
- qualify at Senior Director inside 30 days of becoming a member of Odecent and obtain a Rolex watch
Becoming a member of Odecent
Odecent affiliate membership is tied to a subscription fee:
Managed buying and selling subscriptions
- A50 – $50
- A100 – $100
- A250 – $250
- A500 – $500
- A1000 – $1000
- A3000 – $3000
- A5000 – $5000
- A10000 – $10,000
Personal alternate buying and selling account subscriptions
- B500 – $500 for 50 weeks entry
- B1000 – $1000 for 60 weeks entry
- B3000 – $3000 for 60 weeks entry
- B5000 – $5000 for 70 weeks entry
- B10000 – $10,000 for 70 weeks entry
- B20000 – $20,000 for 70 weeks entry
- B50000 – $50,000 for 70 weeks entry
Along with the subscription size, the extra an Odecent affiliate pays in charges the upper their revenue potential.
It must be famous that though I’ve quoted USD on this overview to maintain issues easy, Odecent seems to function within the cryptocurrency tether (1 USDT = $1).
Odecent Conclusion
Hiding out in Dubai is pricey. And so we have now Validus ringleaders again with one other fraudulent funding scheme.
Mansour Tawafi explicitly pitches describes Odecent as a “aspect resolution” for Validus victims to recuperate their losses via.
Increasing on Validus’ securities fraud, Odecent gives a clone of the unique providing with an added “lulz can’t contact our cash!” element.
Odecent’s managed buying and selling subscriptions are a repeat of Validus’ providing. Associates join, make investments and obtain a weekly passive return.
The “lulz can’t contact our cash mannequin”, tied to Odecent’s personal alternate buying and selling account subscriptions, permits associates to speculate funds in their very own alternate account with Odecent’s purported AI buying and selling bot.
Underneath this mannequin, buyers are duped into believing that as a result of funds are traded in their very own dealer/alternate accounts, they’ll’t be stolen.
That is false. Usually “lulz can’t contact our cash!” schemes exit-scam via blowing the bot up or rigged trades.
Along with Dubai, throughout its run Validus obtained securities fraud warnings from New Zealand, Australia and Belgium.
Curiously, for August 2024 SimilarWeb tracked 100% of Odecent’s web site site visitors from Morocco.
Given the low pattern measurement (~984 month-to-month visits), this might simply be a geo inaccuracy on SimilarWeb’s half. It may additionally mirror one among extra of Odecent’s co-founders relocating from Dubai to Morocco.
Drilling down into particularly what makes Odecent a fraudulent funding scheme, we defer to Phil Moser;
If in case you have a $50,000 max bot, it permits you to have 40 stay APIs, various energetic bots, it offers you all the pieces.
After which it goes for 70 weeks and it offers you a 7x return mmkay?
[The] centralized choice; these are for individuals who say, “Y’know what, I don’t understand how to do that, I don’t know tips on how to join, y’know these completely different bots, to watch it, to all of the various things that have to be there.
I might simply slightly discover a place the place I can allocate my funds and be capable to get a certain quantity of returns on a weekly and month-to-month foundation.”
Be it via managed buying and selling or investing funds via an affiliate’s personal alternate account, Odecent is soliciting funding from shoppers on the promise of passive returns.
This constitutes a securities providing, requiring Odecent to register with regulators and file audited monetary stories.
Like Validus, Odecent fails to offer proof it has registered with monetary regulators in any jurisdiction.
Thus Odecent is a continuation of Validus’ well-documented securities fraud, perpetrated by the identical scammers.
As Validus victims got here to appreciate, MLM + securities fraud lends itself to Odecent working a Ponzi scheme.
As with all MLM Ponzi schemes, as soon as affiliate recruitment dries up so too will new funding.
This can starve Odecent of ROI income, finally prompting a collapse.
Odecent’s collapse will manifest both by way of disabling of withdrawals, and/or the “lulz can’t contact our cash!” bot producing investor losses.
It must be famous that internally Odecent operates in “factors”. The corporate represents 1 level is the same as $1, nevertheless that is solely true so long as Odecent permits the inner conversion of factors to USDT.
Once more as with Validus, when recruitment dried up withdrawals had been the very first thing the corporate disabled. The identical shall be true of Odecent, leaving associates bagholding nugatory factors they’ll’t do something with.