Apex376 Partners Scam Allegations Fact-checked (2024)

Originally Syndicated on June 8, 2024 @ 11:17 pm

Apex376 Partners Review on their website states that they do not give ownership or executive data.

There are no qualifications or facts about the company’s principals on the website. This lack of transparency could be a warning sign because respectable businesses regularly divulge information about their employees and executives.

On March 31, 2022, “apex376partners.com” was registered as a domain name. According to reports, “Apex Partners,” a New York-based company, is the domain holder.

According to Review, the company appears to base its legitimacy on its assertion that it was founded in New York. This is an attempt to present oneself as a recognized or authorized organization.

The February 2021-founded Apex 376 Partners LLC, a New York shell company, is mentioned in the book. Some doubt whether this imaginary company is genuinely affiliated with the website “Apex376 Partners.”

More than a year passed before Apex 376 Partners LLC was created when the domain name for the website was registered. This suggests that the website could not be affiliated with the actual shell company.

Con artists may have attempted to give their scams some validity by using the name of the real New York shell company, according to the text.

Most likely, the establishment of social media pages under the name “Aaron Joseph Ellebrecht” was done to verify the legitimacy of Apex376 Partners. Putting on a credible front could be achieved with this tactic.

According to this section, shell incorporation in any jurisdiction can occasionally be pointless for doing due diligence for multi-level marketing (MLM). To make their scams appear authentic, scammers occasionally create fictitious companies.

Many recurrent themes and cautionary indicators can be found in the Review. It suggests that the website’s assertions of incorporation in New York and that it may have appropriated the name of a legitimate company could be signs of fraud or a probable scam.

The use of social media identities to increase trustworthiness, schedule irregularities, and a lack of transparency are all signs of suspicion. It is a warning to carefully and completely assess companies, especially if their claims are ambiguous or contradictory.

Apex376 Partners Review – The profiles look realistic and are backdated with multiple posts and images.

Ellebrecht’s nonexistence is the issue, according to Apex376 Partners Review.

The CEO and creator of PM-International, Rolf Sorg, has had his identity hijacked by the crooks of Apex376 Partners, according to the Review.

It is most probable for this reason that Ellebrecht is not included on Apex376 Partners’ website.

An exclusive Facebook group seems to be the main hub for Apex376 Partners affiliate coordination:

The group is run by three Facebook pages that have been obtained through fraud or theft.

Despite being established in March 2022, Apex376 Partners was only recently made public last month, according to SimilarWeb:

The speculative assessment indicates that Apex376 Partners intended to launch operations in or around May 2022. Around this time, many cryptocurrencies failed, including Terra and Luna, which caused a significant decline in the market and ripple effects throughout the whole cryptocurrency ecosystem.

Next, it is said that Apex376 Partners might have decided to delay its launch due to unfavorable market conditions at the time. After a year or so, the company appeared to have recovered and reopened.

According to reports, as of January 2023, Malaysia is the source of all website traffic directed to Apex376 Partners. With these circumstances and the launching date in mind, it is reasonable to assume that the individuals or businesses behind Apex376 Partners are most likely based in Malaysia.

It is important to exercise caution given the circumstances surrounding the relaunch and the geographical distribution of website visitors. One of the main issues raised is the lack of openness and transparency surrounding the ownership and administration of the company.

It is advised that prospective investors or participants exercise caution when considering doing business with multilevel marketing companies that conceal information about their owners or organizational structure.

View Partners’ Products at Apex376 – Apex376 Partners Review

The products or services that Apex376 Partners offers are not resellable.

Affiliates are limited to promoting the Apex376 Partners affiliate membership directly.

Compensation Scheme for Partners in Apex376

Apex376 Partners participate in cryptocurrencies because of the possibility of riches that have been promoted.

• Trader Apex: 

Invest at least $500 and earn 2% every day.

• The Apex Comp Plan: 

Get 2.5% daily for up to 24 weeks by investing at least $2500.

Recruitment of affiliate investors is rewarded by Apex376 Partners MLM division.

Using a unilevel incentive structure, Apex376 Partners pays referral commissions.

A level 1 affiliate is positioned above every other affiliate they individually recruited, and they lead a unilevel team in a unilevel compensation structure:

The level 2 unilevel team of the original affiliate is tasked with receiving any new affiliates that are brought on by level 1 affiliates.

A level 2 affiliate is promoted to level 3 and so on down an infinite number of levels if any level 2 affiliates bring on new affiliates.

Apex376 Partners has set a five-person maximum for payable unilevel team levels.

As a percentage of the total amount spent over these five tiers, the following are the referral commissions paid by Apex376 Partners Review:

• level 1 (personally recruited affiliates) – 5%
• level 2 – 4%
• level 3 – 3%
• level 4 – 2%
• level 5 – 1%

Joining Partners at Apex376

To become an affiliate member of Apex376 Partners, prospective members do not need to pay any membership fees.

The company does, however, require a minimum $500 investment to fully take advantage of this income-generating opportunity.

Remarkably, Apex376 Partners facilitates trading transactions with bitcoin (BTC) or tether (USDT). Through the use of these cryptocurrencies, the company suggests that interested parties take part in the investment aspect of the offer.

Final Review by Apex376 Partners

It generates revenue from outside sources using particular techniques, according to Apex376 Partners. Nonetheless, the lack of concrete evidence supporting the existence of these revenue-generating routes only serves to heighten skepticism. Businesses frequently have to submit documentation of these operations to the U.S. Securities and Exchange Commission (SEC), a regulatory body in charge of overseeing such matters. Apex376 Partners is notable for seemingly avoiding this need.

It is important to keep in mind that businesses that have registered may be verified by using the SEC’s open Edgar database and that the registration process is transparent and open. Strangely, Apex376 Partners appears to have deliberately avoided regulatory oversight, possibly for obvious reasons, as seen by the company’s conspicuous absence on the SEC registry.

Apex376 Partners Review has stated that it is erroneous to believe that someone can “partner” their way to SEC registration. The registration status of an entity is binary: it can be registered or it can’t. Due to its lack of SEC registration, Apex376 Partners is in danger of securities fraud and perpetuates the idea that the company is a Ponzi scheme.

Like many multilevel marketing Ponzi schemes, Apex376 Partners depends on ongoing affiliate recruitment and the resulting influx of capital. Because there won’t be as much money available to maintain the promised returns due to the expected fall in recruitment efforts, the company won’t have as much money as it needs. As is often the case with MLM Ponzi schemes, this condition results in a collapse.

The mathematical dynamics that underlie these schemes indicate that most participants would lose money if the plan crashes Review. The Apex376 Partners Review notes that while phony finance-related enterprises are not unusual to come out of Malaysia, their determined attempt to pass for a U.S.-based organization is a noteworthy and perhaps concerning trend. Whether this trend continues will be intriguing to watch.