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Forsage Ponzi Scam – The Latest Get-Rich-Quick Fraud

Its Forsage, Forsage everywhere! 

Yes, you have landed on this page most likely not because of an accident but because you have been pitched in by someone who claims to make you rich. And then you searched the internet for its authenticity. 

When there is a scam doing rounds, it is hard to even get information from the Internet as many people associated with this make tall claims, income proofs and you end up believing. An emotion called FOMO or Fear Of Missing Out takes over your brain and you just do not want to wait for more than a minute more on your path to riches. We have seen this many times and also ended up being scammed but we do not have a habit of learning.

Anyways, if you are in a hurry and not keen to read further, please be advised that FORSAGE IS A FRAUD PONZI SCHEME!

Basic of considering Forsage as a fraud:

  • Forsage works on Multi-Level Marketing {MLM} model. Although MLMs are not fraud in general but the legal and authentic MLM Plans have a calculation where income is generated based on sales of PRODUCTS or SERVICES and NOT only on recruitment. 
  • Forsage does not have a product or service in a business model. The only way a person can make money is by recruiting someone who also doesn’t get anything of value but a system wherein the new recruit has to recruit more people to make money.
  •  The website doesn’t speak anything about the owners. Isn’t it a big proof of a scam? Well, fans are comparing it with bitcoin which has been a special case. Bitcoin had a trust of time and only after the community had enough trust people started buying it. 
  •  Fancy words like decentralized, peer-to-peer, foreign names always attract the gullible middle-to-low income group people and they fall prey to such scams. Decentralized, crypto, peer-to-peer like terms are authentic concepts but only when someone is using these genuinely. 
  • Tron is an ecosystem. People can mine cryptocurrencies but that requires efforts. Cult and pyramid based scheme type of ecosystems are created when the only way to grow is to recruit new people into the system. 

Forsage situation in Philliphines

It must be noted that SEC {Securities and Exchange Commission} of the Philippines has warned people about Forsage. Many Asian countries like Phillipines, India, Pakistan, Bangladesh are seeing Forsage plan grow very fast.   

Forsage Situation in India

Forsage is thriving in India. Many people have claimed to have made a few million rupees within a few weeks with this system. Forsage works like an MLM (Direct Selling) model.

As per the direct selling guidelines of the government of India, a company should have a physical product or a genuine service to be deemed as a legal MLM company and not a pyramid scheme. Also, the income should come only from sales of the products and not necessarily from just recruiting people. Based on this, Forsage can be deemed to be outright fraud as per Indian rules. 

 

What do you think?

Written by Scam Alert

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