MG Faroque, identified as the operator behind Concord Consulting Limited, launched the investment scheme on May 22, 2015. This followed a quick rebrand from an earlier venture known as Enliven LTD, which Faroque promoted earlier that month. The company's public website, concordconsulting.com, offers no details about who owns or runs the operation.
The concordconsulting.com domain was registered on May 16, 2015. Domain registration information remains private, shielding the registrant's identity. However, affiliates of Concord Consulting Limited have named MG Faroque as the company owner. One investor stated, "The owner of the company is MG Faroque. I have known him for quite some time, and have actually had conversations with him via Facebook and phone. He is as honest as it gets."
Faroque actively advertises Concord Consulting Limited on his personal Facebook page. Public posts indicate the company is a direct relaunch of Enliven LTD. On May 2, Faroque posted a message to friends, describing struggles with online money-making and promises to help others avoid losing savings to "dishonest admin." He presented a plan: "Plans 1 to 3 will pay daily profit for 60 business days and your investment will be returned after the 60th business day. And the VIP plan will pay after 40 business days with a total 500% return on your investment."
This structure, promising daily profits and exceptionally high returns like 500% in 40 days, is a hallmark of a Ponzi scheme. Such programs rely on a constant influx of new investor money to pay off earlier investors, rather than generating profits from legitimate business operations. They require exponential growth that is mathematically unsustainable, leading to inevitable collapse.
Advertising for Concord Consulting Limited began on May 22. Faroque confirmed the name change in a public exchange with an investor, stating, "name has been changed" and directing the investor to a private group. This private Facebook group likely serves as the primary communication channel for Faroque with his investors.
Despite a UK company address listed on the Concord Consulting Limited website, Faroque's Facebook profile lists his location as New York, US. This suggests the operation is run out of the United States, not the UK. Companies offering investment opportunities must register with financial regulators like the Securities and Exchange Commission (SEC) in the US or the Financial Conduct Authority (FCA) in the UK. Concord Consulting Limited shows no public registration with these bodies, a significant red flag for investors.
Faroque's expressed familiarity with being scammed aligns with a history of promoting other alleged Ponzi schemes. His Facebook profile shows advertisements for IntellaShares, which collapsed as a $2.50 micro Ponzi. He also promoted BoomAdz, a 150% ROI Ponzi scheme, Rockfeller, a 350% ROI Ponzi scheme, PaFunds, a 250% ROI Ponzi scheme, Profits Automatic, a 125% ROI Ponzi scheme, Money Worldwide, a $500 a week ROI Ponzi scheme, and Automatic Mobile Cash, a $25 Ponzi scheme. This pattern of involvement with high-yield, short-lived investment programs raises serious concerns about the legitimacy of Concord Consulting Limited.
Investors considering ventures like Concord Consulting Limited should exercise extreme caution. Programs promising high, fixed returns with little to no risk often lack the underlying business activity to support such payouts. These schemes commonly end with significant losses for most participants. The Financial Industry Regulatory Authority (FINRA) warns consumers to be wary of any investment promising guaranteed high returns, especially when the company behind it lacks transparency regarding its ownership and operations.