Greg Chadwick, operating from British Columbia, Canada, appears to run AdProfitFund, an online program offering a 1.5% daily return on $10 "ad pack" investments. The website, adprofitfund.com, registered June 25, 2013, conceals its owner's identity through private registration.
Banners on the AdProfitFund site point to another program, Xtreme Text Ads. This scheme charges affiliates $15 to join and pays them $5 for each recruit. Xtreme Text Ads also hides its ownership details on its public website.
However, the Xtreme Text Ads domain registration lists "Greg Chadwick" of "Trax Web Design Inc." based in British Columbia. While Chadwick could merely be the site's developer, further investigation suggests otherwise.
The email domain "traxwebdesign.com," listed in the registration, redirects to "MyVipLinks," a directory filled with various affiliate opportunities. Web design company sites typically do not redirect to such income opportunity hubs. This connection suggests Chadwick likely controls the entire network, including AdProfitFund.
AdProfitFund has no retail products or services. Affiliates can only market AdProfitFund memberships to other individuals.
The pay plan centers on "ad packs" costing $10 each. The company guarantees a 1.5% daily return for 150 days, totaling a 225% return on investment.
The scheme also pays referral commissions on money invested by recruited affiliates. These commissions extend across three levels: 7% for direct recruits (Level 1), 3% for Level 2, and 2% for Level 3.
Joining AdProfitFund is technically free. But affiliates cannot withdraw any earned commissions unless they have personally invested in the program.
All revenue entering AdProfitFund comes from its affiliates. All payouts to existing participants draw from that same pool of money. These are classic Ponzi mechanics.
The program pitches "truly passive income" with claims of 45% monthly returns and 225% per position. Affiliates buy ad packs, which function as positions in the compensation plan, then collect daily returns funded by new investor money.
Greg Chadwick's web design operation links to at least one other advertising program, "Trax Ads." That domain is also registered to Chadwick and operates a single-level affiliate program, paying 40% on ad package sales.
AdProfitFund appears to be Chadwick's latest effort in the online opportunity space, following multiple advertising-based income programs that failed to gain traction. The scheme relies on continuous recruitment. Once new affiliate money stops flowing in, Chadwick will run out of funds to cover the promised 1.5% daily ROI, causing the entire operation to collapse.