Following suspension of withdrawals and then withdrawal restrictions, HomesCNL has announced its CNL token exit-scam.

HomesCNL disabled withdrawals in early July. Some baloney about “API software” was the excuse provided.

On July 21st, the company announced it was resuming withdrawals, with newly implemented restrictions:

the minimum withdrawal amount was now $50; and

HomesCNL investors could only withdraw up to $1000 a day.

While HomesCNL clamped down on the outflow of money into the Ponzi, the incoming previous $5000 investment limit was raised to $50,000.

The minimum investment amount will also be raised from $50 to $500 on August 1st.

HomesCNL is a
reboot of the collapsed CryptoCNL Ponzi scheme
. The primary difference between the two scams is a new marketing ruse and introduction of CNL token.

As noted in BehindMLM’s June 2022 coverage of the HomesCNL reboot;

This time around when the Ponzi inevitably collapses, Homes CNL will exit-scam by paying their token out.

This allows them to milk gullible investors for a little while longer instead of just doing a runner.

HomesCNL’s July 21st announcement also revealed the inevitable CNL token exit scam.

Withdrawals will soon be with CNL TOKEN.

You can still buy the CNL Token at $0.50 in the back office.

Paying out in CNL token, which HomesCNL generates on demand out of thin air at no cost, allows the Ponzi scheme to stop directly paying out in bitcoin.

Owing to CNL token being worthless outside of HomesCNL, they’ll still have to indirectly cover withdrawals (affiliates converting CNL into bitcoin or something else).

Paying in CNL token however allows HomesCNL to maximize investor losses. An inhouse token is easier to manipulate internally over a third-party token/coin.

To that end HomesCNL will transition to a staking Ponzi, allowing users to park CNL token with the company in exchange for returns. Returns are of course also paid in CNL token.

This effectively allows HomesCNL to kick it’s exit-scam collapse further down the road.

HomesCNL has also announced a planned NFT grift. Specific details however have yet to emerge.

Fronted by Boris CEO “Jack Wilson”, HomesCNL is believed to be run by serial scammers Andrew Arrambide and Juan Carlos Guinea.

Arrambide is believed to be a resident of Utah or California in the US. Guinea operates out of Mexico.

Following a marketing campaign targeting South America, last month HomesCNL recruitment in Peru shot up 5000%.

SimilarWeb currently reports top sources of traffic to HomesCNL’s website as Mexico (40%), Peru 31%, Venezuela (16%) and El Salvador (7%).

HomesCNL is incorporated in the US as “Crypto CNL Group & Associates LLC”, a Nevada shell company.

Neither Crypto CNL, Homes CNL, Crypto CNL Group & Associates LLC, Andrew Arrambide or Juan Carlos Guinea are registered with the SEC.

On July 30th HomesCNL is holding a marketing event in Dubai:

Arrambide left the US for Dubai on July 3rd:

Leaving a month in advance of HomesCNL’s plann

🤖 Quick Answer

What is HomesCNL and its connection to previous scams?
HomesCNL is a reboot of the collapsed CryptoCNL Ponzi scheme, operating with similar fraudulent mechanisms but employing new marketing strategies to attract investors seeking returns through the CNL token.

What withdrawal restrictions did HomesCNL implement in July?
Following a suspension citing software issues, HomesCNL reinstated withdrawals with significant restrictions: a $50 minimum withdrawal amount and a $1,000 daily withdrawal limit, effectively controlling capital outflow.

How did HomesCNL modify investment parameters?
While restricting withdrawals, HomesCNL increased the maximum investment from $5,000 to $50,000 and announced plans to raise the minimum investment from $50 to $500 effective August 1st.

What defines HomesCNL as a Ponzi scheme?
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