Craig Shawn Williamson’s ResClub funding scheme has collapsed.
Following ResClub, Williamson has gone on to launch 8ghtX and GoBingo For Starvation.
BehindMLM reviewed ResClub in September 2022. Whereas we weren’t 100% on ResClub being a Ponzi scheme, it was a clear-cut case of securities fraud.
ResClub noticed Williamson solicit minimal $5000 investments on the promise of as much as 18% yearly.
Returns have been purportedly generated by means of real-estate offers, nonetheless ResClub by no means filed any audited monetary reviews.
In the present day ResClub’s “myresclub.com” web site area is disabled. ResClub’s different web site area, “resclub.com”, redirects to one thing known as 8ghtX.
A Might 4th “part out discover” explains ResClub will “proceed to pay returns to its traders by means of the time period out [sic] their investments” (click on to enlarge):
8ghtX operates from the area (“8ghtx.com”), privately registered on July twenty sixth, 2023.
Hyperlinks on 8ghtX’s web site are largely damaged:
- “earn” redirects to “8ghtm.com” and is non-functional
- “study” redirects to “8hgtu.com” and is 8ght College
- “make investments” redirects to “8ghti.com” and is non-functional
- “borrow” redirects to “8ghtx.com” (i.e. the hyperlink is damaged)
8ght College however it simply appears to be a advertising and marketing assist.
Uncover the transformative energy of 8ght College, a complete on-line studying platform that equips college students with the instruments essential to grow to be somebody able to wealth and information you to construct a profitable enterprise by means of 8ght powered firms.
Naturally “make investments” on 8ghtX’s web site caught my consideration. As per 8ghtX’s app itemizing on Google play;
The 8ghtX App is a primary of it’s sort banking platform and funding syndication hub wrapped into one glossy interface.
You may make deposits, withdrawals, investments, gather dividends, switch funds and alternate crypto 24/7, three hundred and sixty five days a yr!
Screenshots of the 8ghtX app reveal it’s a continuation of the securities fraud Cright Williamson began with ResClub:
GoBingo For Starvation is a mash up of on-line gaming (playing) and charity.
GoBingo For Starvation’s compensation plan nonetheless sees associates “donate” cash to the corporate. This qualifies them to earn a reduce of donations made by subsequently recruited associates.
- you donate $30 or extra to GoBingo Starvation
- you recruit a minimum of two associates who do the identical (should preserve a minimum of one donation each 90 days)
- you get 20% of first donations
- 50% of 20% of second and subsequent donations are paid up two ranges of recruitment, 75% (of fifty% of 20%) to the recruiting affiliate and 25% to whoever recruited them
- the opposite 50% of 20% is paid out residually by way of a binary compensation construction
Enjoying bingo appears to be utterly separate from GoBingo For Starvation’s MLM alternative.
Curiously once I clicked by means of to GoBingo For Starvation from ResClub’s official FaceBook web page, I used to be auto positioned in Peter Jensen’s GoBingo For Starvation downline:
Jensen was ResClub’s VP of International Gross sales.
With nothing being marketed or bought to retail prospects, GoBingo For Starvation operates as a pyramid scheme.
Of the 2 schemes, 8ghtX seems to be the direct reboot of ResClub’s securities fraud.
Though it’s marketed on ResClub’s now defunct social media profiles, it’s extra of a standalone pyramid scheme.
In accordance with his LinkedIn profile, Williamson remains to be primarily based out of Florida within the US. As with ResClub, neither 8ghtX or Williamson are registered with the SEC.