Global Sponsorship Network (GSN), operating from the domain mygsn.com, offers no transparency regarding its ownership or management. The domain, first registered in 2012, was last updated on June 6th, 2020. This date likely signifies when GSN’s current operators took control, shortly before the scheme’s promotion began.
Two individuals, Steve Chiang and Simon Le, are prominently linked to GSN’s promotion. Steve Chiang is identified as GSN’s Chief Sales Officer. Chiang was previously involved in the Nasgo/ShareNode Ponzi scheme, which collapsed and faced an SEC investigation in early 2019. After Nasgo/ShareNode’s downfall, Chiang reportedly relocated to Singapore.
Simon Le was a high-ranking affiliate in the OneCoin Ponzi scheme, instrumental in its promotion across the United States and Vietnam. Earlier this year, Le departed OneCoin to launch his own venture, OneLink. Though OneLink failed shortly after its April launch, Le is currently organizing GSN promotional events in Vietnam. His specific role within GSN remains undisclosed.
Given their past associations with fraudulent schemes, it is highly probable that Chiang and Le are the architects behind GSN. The scheme lacks any retailable products or services; affiliates can only market GSN membership itself.
GSN affiliates invest either 500 or 1000 USDT, exchanged at a 1:1 ratio for GDP, a cryptocurrency created by GSN. These investments are held by GSN for periods ranging from seven to thirty days, with promised returns as high as 30%. Longer investment durations supposedly yield higher return rates. One promotional example claims a 116% ROI after 23 days, with returns paid in GDP.
The GSN compensation plan features fourteen distinct affiliate ranks. To become a "Sponsor," one must simply sign up and invest. Advancing to "Pro" requires generating 60 investments from personally recruited affiliates within a month. The "Bronze" rank is achieved by recruiting three "Pro" ranked affiliates, and "Silver" requires three "Bronze" ranked affiliates. The "Gold" rank necessitates recruiting three "Silver" ranked affiliates.