Sixth Society fails to offer possession or government data on its web site.
Sixth Society’s web site area (“sixthsociety.com”), was first registered in 2016. The non-public registration was final up to date on March 4th, 2024.
Via the Wayback Machine we will see Sixth Society’s earlier web site design revealed two names of curiosity; Volker Hartzsch and Elisa Giudici:
On his private web site Volker Hartzsch cites himself as a founding father of Sixth Society:
Earlier than he reinvented himself as a crypto bro, Hartzsch was promoting automobile components from Dubai:
In response to Hartzsch’s Twitter profile he’s nonetheless primarily based out of the UAE:
On her private web site Elisa Giudici, a purported UK resident, cites herself as “founding father of Sixth Society”:
Why this data will not be disclosed on Sixth Society’s web site is unclear.
Whereas they every seem to have their very own crypto bro initiatives beneath their respective belts, Hartzsch and Giudici are additionally co-founders of Trustyfy:
Trustyfy seems to function as a intermediary between crypto pockets homeowners and “exterior companions … [who] can empower you with extra conventional providers, corresponding to debit playing cards”.
As per its web site Sixth Society represents it’s run via Block Prime LTD;
This web site and app are owned and operated by Sixth Society, a enterprise of Block Prime Ltd, with headquarters in London, United Kingdom, firm quantity 14031792.
Block Prime LTD was a UK firm run by Hartzsch, Giudici and Stefano Tresca.
As per the screenshot above, Tresca is a co-founder of Trustyfy. He additionally seems to be a Sixth Society co-founder.
Block Prime LTD was voluntarily dissolved on December seventeenth, 2024. The footer of Sixth Society’s web site now ties the corporate to “Sixth Society OU” and “Sixth Society US Inc.”
Sixth Society OU is an Estonian shell firm beneath the management of Hartzsch, Giudici and Blas Daniel Pedreno Esteban.
Esteban is a resident of Spain and is listed as “Head of Backend Dev” on Trusyfy’s web site.
Esteban’s title being tied to Sixth Society’s Estonian shell firm suggests he’s additionally a co-founder however I wasn’t capable of confirm.
Sixth Society US Inc. is a Delaware shell firm. Owing to lax registration necessities and regulation, Delaware is a favourite US jurisdiction for scammers to register shell corporations in.
Pertaining to Volker Hartzsch being primarily based out of Dubai;
As a result of proliferation of scams and failure to implement securities fraud regulation, BehindMLM ranks Dubai because the MLM crime capital of the world.
BehindMLM’s tips 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 Sixth Society, learn on for a full evaluate.
Sixth Society’s Merchandise
Sixth Society has no retailable services or products.
Associates are solely capable of market Sixth Society affiliate membership itself.
Sixth Society’s Compensation Plan
Sixth Society sells $200,000 “founder” or $2500 annual memberships.
The MLM facet of the enterprise pays on recruitment of affiliate buyers and ties into company-wide funding.
Recruitment Commissions
Sixth Society pays a ten% fee on recruitment of founder or annual membership associates.
Downline Rewards
Sixth Society takes 10% of company-wide membership charges and “share[s them] again to the neighborhood”.
Particular particulars usually are not supplied.
Founder Member Passive Returns
Sixth Society claims it takes
50% of all revenues from initiatives, startups, and exists [sic] are used to reward the Founding Members.
Particular particulars and any further qualifying standards will not be supplied.
Becoming a member of Sixth Society
Sixth Society affiliate membership is $200,000 for a founder place or $2500 yearly.
Sixth Society Conclusion
As Trustyfy operates as a intermediary between crypto pockets holders and “companions” who present monetary providers, Sixth Society operates as a intermediary between its members and funding schemes.
The pitch of returns via these undisclosed funding schemes is two-tier; once more via claimed exterior companions but additionally internally to founding members.
Sixth Society’s pitch of passive returns and entry to third-party returns constitutes a securities providing. Commodities legislation may also apply relying if there’s a buying and selling facet to any of the supplied funding schemes.
On its web site Sixth Society fails to offer proof it has registered with monetary regulators in any jurisdiction. This constitutes securities fraud, with commodities fraud additionally being a risk.
What we will additionally confirm is pyramid fraud. Sixth Society doesn’t market or promote any services or products to retail prospects. All commissions are tied to affiliate recruitment.
Additionally value noting is, in claiming BlockPrime is a guardian firm, “companions” of BlockPrime could also be understanding or unknowing accomplices to cash laundering.
That’s after all assuming BlockPrime itself isn’t working the claimed “exterior companions” facet of the enterprise.
In committing verifiable securities fraud, there’s additionally the likelihood that the “founding members” funding scheme is working as a Ponzi scheme.
Audited monetary studies filed with regulators is the one approach for shoppers to confirm Sixth Society is doing what it claims to be. As a result of aforementioned securities fraud nonetheless, these filings usually are not out there.
Definitely if any Sixth Society membership funds are getting used to pay founding members passive returns, that will represent a Ponzi scheme.
As with all MLM Ponzi schemes, as soon as affiliate recruitment dries up so too will new funding.
It will starve Sixth Society of ROI income, finally prompting a collapse.
The maths behind Ponzi schemes ensures that after they collapse, nearly all of contributors lose cash.