Legend Holdings serves up fairly the unverifiable firm historical past on its web site;
Legend Holdings Company was based in 1984 by Liu Chuanzhi and 10 different researchers with funding from the Computing Institute of the Chinese language Academy of Sciences.
Ranging from the IT trade, Legend Holdings has gone by means of the event of over three a long time, and now it’s a main diversified funding holding firm in China.
It builds up a novel enterprise mannequin of “strategic investments + monetary investments” with synergy between the two-wheel-drive companies.
Naturally no data on Liu Chuanzhi is offered. Legend Holdings Corp’s web site does have a “from the Chairman” hyperlink however, quite conveniently, it’s presently damaged.
The Chinese language Academy of Sciences is an precise establishment, however there’s no hyperlink with Liu Chaunzhi.
Liu Chuanzhi is the identify of Lenovo’s founder. If I didn’t know any higher I’d say whoever is behind Legend Holdings Corp has “borrowed” the identify.
Supporting that is Legend Holdings Corp’s web site area (“legendholdingscorp.com”), being first registered in March 2020.
The area registration is non-public and was final up to date in March 2021.
Wanting just a little deeper into the identify, it appears there’s an precise Legend Holdings working from “legendholdings.com.cn”. This Legend Holdings is headed up by Liu Chuanzhi
Legends Holdings Corp’s web site seems to be modeled after the real Legend Holdings web site. It has nothing to do with the precise Legend Holdings or Liu Chuanzhi.
One breadcrumb I discovered was a Fb web page titled “Legend Holdings”. Up till February 2021 it was going by SmartWorkz.
SmartWorkz seems to be a short-lived 2019 Ponzi scheme that focused the Philippines.
References to the SmartWorkz Ponzi scheme have been scrubbed off the web over the previous month or so.
As at all times, if an MLM firm just isn’t overtly upfront about who’s operating or owns it, suppose lengthy and arduous about becoming a member of and/or handing over any cash.
Legend Holdings Corp’s Merchandise
Legend Holdings Corp has no retailable services or products.
The corporate’s associates are solely in a position to market Legend Holdings Corp affiliate membership itself.
Legend Holdings Corp’s Compensation Plan
Legend Holdings Corp associates make investments funds on the promise of marketed returns:
- Bronze – $200
- Silver – $400
- Gold – $800
- Platinum – $1400
- Diamond – $2000
Returns seem like the identical no matter how a lot is invested.
Particular return charges are decided by how lengthy a Legend Holdings Corp affiliate leaves funds within the firm:
- make investments for four weeks and obtain a 20% ROI paid out over four weeks
- make investments on the fifth of a month and obtain a 25% ROI on the 30th of the identical month
- make investments for one month and obtain a 30% ROI
- make investments for 3 months and obtain a 32% ROI
- make investments for six months and obtain a 35% ROI
The three and 6 month funding choices compound invested funds and earnings month-to-month.
Legend Holdings Corp associates who’ve invested qualify for residual commissions.
Legend Holdings Corp pays residual commissions by way of a unilevel compensation construction.
A unilevel compensation construction locations an affiliate on the prime of a unilevel staff, with each personally recruited affiliate positioned straight below them (stage 1):
If any stage 1 associates recruit new associates, they’re positioned on stage 2 of the unique affiliate’s unilevel staff.
If any stage 2 associates recruit new associates, they’re positioned on stage three and so forth and so forth down a theoretical infinite variety of ranges.
Legend Holdings Corp caps payable unilevel staff ranges at fifteen.
Residual commissions are paid out at three% of returns paid to associates throughout these fifteen unilevel staff ranges.
Becoming a member of Legend Holdings Corp
Legend Holdings Corp affiliate membership is free.
Participation within the connected earnings alternative nonetheless requires a minimal $200 funding.
Legend Holdings Corp is filled with scrumptious engrish.
Flying Excessive in unified accord, we’re portray the long run.
The completion of heredetary succession at legend holdings.
From the introduction of this evaluation I’m assuming “synergy between the two-wheel-drive companies”, is a few try and faux the corporate is concerned in auto manufacturing.
Hitching itself to Legend Holdings is an try and lend legitimacy to what’s in any other case a easy Ponzi scheme.
Legend Holdings Corp associates make investments funds on the promise of marketed returns.
Within the absence of any verifiable supply of exterior income, these returns are paid from subsequent funding.
Residual commissions provides an extra pyramid layer to the scheme.
As with all MLM Ponzi schemes, as soon as affiliate recruitment dries up so too will new funding.
It will starve Legend Holdings Corp of ROI income, ultimately prompting a collapse.
The maths behind Ponzi schemes ensures that once they collapse, the vast majority of members lose cash.