Cryptocurrency has boomed in the past few years. With a few companies and individuals putting significant resources into the blockchain, anyone who has no idea what any of these terms mean will have trouble keeping up. I am one such person. I have no real interest in crypto but I am willing to understand why people are so into it. So when I came across this company called PGI Global, I was a bit curious to learn more.
The PGI in PGI Global stands for Praetorian Group International. It’s weird that the company has both the words “international” and “global” in the name. That seems super redundant, if you ask me. The cryptotrading company was founded sometime in 2020 by a guy who goes by the name of Ramil Ventura Palafox, or RV Palafox as he tends to be refer to in most of the company’s marketing. RV was involved in a similar cryptotrading company called AI Trade where he served as president. I’m not really sure why he would move from a cryptotrading company to another.
The whole deal of PGI Global is that you could receive a 200% ROI when you invest a few hundred dollars of cryptocurrency into the company. It’s sort of a passive income scheme where PGI handles all the trade of your cryptocurrency somewhere that they did not specify. You will apparently receive daily returns of around 0.5 to 3% until you’ve reached the 200% ROI. In a marketing video, it will take about 6 months for you to reach that figure.
Now, don’t get me wrong. Receiving twice the amount you invested from trading crypto within half a year seems like a really enticing proposition. But there is a lack of transparency on how the trading works. Their response basically amounts to “Don’t worry, we got this.” And if regular non-crypto trading is any indication, the market rate fluctuates with every passing day. So I’m not really sure how your investment has rarely gone red within those supposed six months.
PGI Global also has a different way of earning money through the company. And that is by paying for an affiliate membership. Affiliate memberships cost around the same amount as the trading investment is. Here are the investment tiers:
- Silver: $100–500
- Gold: $1,000–10,000
- Platinum: $20,000–100,000
- Titanium: $500,000 and up
You also need to pay an annual fee of $19. They refer to it as the software fee. If you refer other people through the invest program, you will earn a commission depending on which tier your recruited affiliates choose to invest. Silver earns you 6%, Gold earns you 8%, Platinum earns you 10%, and Diamond earns you 12%. The commissions will be based on which is the largest amount invested an affiliate made.
There are also residual commissions that can be earned through a binary compensation structure. In a binary compensation structure, the lower levels are split in two. Each level has two split sides, hence why it’s called a binary team. PGI Global computes the investments made between both teams. An affiliate is paid a percentage of the funds invested by the weaker binary side. Silver and Gold tiers receive 8%, while Platinum and Titanium receive 10%.
Around March 2021, it seemed like payments have kind of dwindled out. The company was seemingly promoting a digital wallet called Kala. The company refuted it, along with another statement saying that they have been consistently paying their 25,000 members. “No need to worry. We’re still good.” is the vibe it was giving out. The next few months were beset with a lot of technical issues, including the company’s website being suspend in June due to problems with the domain hosting service. They were bringing forth another era for the company, dubbed “PGI Global 2.0”. It doesn’t seem like a thing a company that believes in itself would do. Why would they be signaling a change almost a year into it? Then it dawned on me, this was a scam.
In September 2021, the company announced a few changes in the chain of command, a reboot of sorts. RV Palafox was out as the company’s CEO. Top earner Helen Graham was announced as his replacement, while Claire Wilkinson was announced as the Senior Vice President of Operations. In the same month, the Philippines’ Security and Exchanges Commission put out a statement saying that PGI Global is not authorized to solicit investments due to the lack of license from the commission to do so. Since that announcement, a few of the Facebook pages affiliated with it have gone dark.
Seeing as an actual statement was put out against the company, it is safe to say this whole thing was scam. There haven’t been anything to come from any of the names I have posted on here. Though it probably feels like they might show up again in the near future. Still, I want to advise anybody to stop participating in these types of schemes, regardless of how enticing the figures they trot out are.