Golden Way has received a pyramid fraud warning from Russia.

As per the
Central Bank of Russia’s October 26th notice
, Golden Way exhibits “signs of a financial pyramid”.

BehindMLM
reviewed Golden Way
back in January. Golden Way’s business model attaches a pyramid scheme to annual returns of up to 530%.

Of note was Golden Way hitting the MLM Ponzi trifecta;
Dubai
, a Boris CEO and Ukrainian scammers.

In January 2022 Alexa tracked top sources of traffic to Golden Way’s website as Saudi Arabia (44%), Algeria (30%) and Egypt (3%).

Outside of Egypt recruitment has collapsed, with SimilarWeb today tracking traffic from Mexico (23%), France (13%), Egypt (12%) and Spain (12%).

Golden Way is not registered to offer securities in any of the countries it solicits investment in.

Update 6th January 2022 –
The GoldenWay Ponzi scheme has
collapsed
.

🤖 Quick Answer

What is the Golden Way pyramid fraud warning from Russia?
The Central Bank of Russia issued a notice on October 26th identifying Golden Way as exhibiting signs of a financial pyramid scheme. The scheme promised annual returns up to 530% while operating without proper securities registration in target markets including Saudi Arabia, Algeria, Egypt, Mexico, France, and Spain.

What are the key characteristics of Golden Way's fraudulent structure?
Golden Way combined a pyramid scheme model with promised high returns, exhibited classic MLM Ponzi indicators including Dubai operations, a Boris CEO, and Ukrainian scammers involvement. The scheme collapsed outside Egypt as recruitment dried up, with traffic shifting to Mexico, France, and Spain.

In which countries does Golden Way operate without proper authorization?
Golden Way solicits investments across multiple jurisdictions including Saudi Arabia, Algeria, Egypt, Mexico, France, and Spain without being registered to offer securities in any of these countries, violating financial

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