Warning

 

Canadian Financial Authorities (MSC and Winkler Police) have issued warnings for PayDiamond.com as an operation based in Hong Kong and running an online ponzi scheme. Investors are continually recruited in order to keep funding the scam activities.

 

Background

 

  get_help_experts

PayDiamond is a Diamonds investment / Network marketing operation. True ownership is hidden from view but apparently the offices are located at: SUITE 3601, Two Exchange Square 8 Connaught Place, Central – Hong Kong. Further research indicates tha Carlos Luiz serves as Administrative Director, Economist and System Engineer of PayDiamond. Touting an experience of MLM / distribution networks for 5 years, he is cited to having been a commercial Director at a Japanese multinational company.

The website is available in multiple languages but seems to have an emphasis on French and Portuguese speakers. It looks to be heavily marketed in Africa by partner websites.

 

Platform

 

There seems to be no trading platform in PayDiamond – but most MLM systems have a database to see show their “impressive” pyramid scheme structure.

 

Trading Conditions

 

Not applicable.

 

Our Research – Warning Signs

 

According to our online investigation, the investors are called PayDiamond “affiliates” and initially invest between $200 and $36,000 during a period up to a year. Investors are to receive weekly payments as the diamonds are sold off to the newly recruited investors, where the profits are split by the recruiters. Listed on the site are the “hall of fame” individuals – seemingly recruiters in the pyramid scheme. Real or fake – very hard to say. It seems very enticing as a “get rich” scheme for people looking to make money online.

A Candadian, Len Terlinski, investigator is quoted as saying, “There is a heavy emphasis on recruiting new investors. Additionally, Mr. Terlinksi cites that ‘affiliate memberships’ maybe be by law considered an actual trade in a security. As PayDiamond is not registered to sell securities in Manitoba, Canada, they may be in violation of more than just a ponzi scheme. He is quoted as saying, ”each client’s funds are held in a segregated account. Funds are used only for trading options over the website upon a client’s instructions and are never used for any other purpose.”
Supporting websites appear as methods to recruit more people.

Further information states that PayDiamond was listed in 2017 with the CVM – Brazilian Securities and Exchange Commission.

However – there is no results when searching for PayDiamond on their website https://www.cvm.gov.br

 

Support

 

People can contact PayDiamond by email or phone or leave a message on its website. There is no live chat or Skype connectivity.

 

Licensing

 

PayDiamond is not a licensed broker in Hong Kong.

 

 

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Online Trading Scams / 14 Responses / by

Post Author: ScamRecovery

14 thoughts on “PayDiamond

  • dzidzor Lawson

    (August 3, 2018 - 7:47 am)

    please brief me about pay diamond

  • Tetteh

    (August 10, 2018 - 10:18 pm)

    I invested $200 in Paydiamond and now I can’t retrieve my money

    • Ann

      (August 24, 2018 - 12:15 pm)

      Invested 40000.. How can I get it back?

  • Matias Copa

    (August 24, 2018 - 9:10 pm)

    Me estafaron casi 4000 dolares, yo crei en ellos y ahora nos dieron la espalda, solo se enriquecieron los mas grandes…

  • Kofi boateng

    (August 26, 2018 - 6:33 pm)

    Can’t not make withdrawals they say they are are upgrading their system. True or what

  • Milton Reinhardt

    (August 30, 2018 - 1:24 am)

    yo compre o inverti 400 dolares y cuando con las ganancias compre dos diamantes mas de 400 dolares a las dos semanas se borraron o sea no me publican mas nada lo ultimo que quedo como ganancia son 70 dolares

  • gladys schroeder

    (September 1, 2018 - 11:38 pm)

    me estafo en 8 cuentas

  • Samuel Mora

    (September 7, 2018 - 2:55 pm)

    Buen día yo soy de Guadalajara, jalisco México me gustaría saber si hay posibilidad de recuperar algo de lo invertido..
    invertí 200 usa dolares y re inverti otros 200 posteriormente.

    y/o si existe un número de teléfono para ponerme en contacto con estas personas..

    les agradeceré si me pueden ayudar.

  • Bahati Benson

    (September 9, 2018 - 6:24 pm)

    I would like to know more about the new changes thank you

  • Robinson oliveros

    (September 11, 2018 - 10:45 pm)

    Solicito informacion sobre la pagina de paydiamond ys que no pude actuañisarme pog cambio hicieron ya ye tenian avisar a los socios de la compañia

  • Javier Gómez

    (September 15, 2018 - 2:27 am)

    Perdí más de mil dólares, estoy en Mexicali Baja California en el noroeste de México, ustedes pueden ayudarme??

  • Diego

    (September 20, 2018 - 11:27 pm)

    He sido estafado en pay diamond y quiero denunciarlo

  • David Friesen

    (September 23, 2018 - 7:05 pm)

    I invested 400$ in pay diamond and now i cant retrieve my money

  • Jhonn Calambas

    (September 25, 2018 - 10:16 pm)

    Buenas tardes para saber y vender mi monedas gracias y que tengan una linda tarde

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