Pietro Rocca, whose name is tied to the September 2011 registration of the MyG21 domain, lists a London address that hosts a virtual office provider. This arrangement obscures the true operational base of the company, which appears to run a multi-level marketing scheme primarily from Italy, paying participants in a proprietary digital points system called GCoins.
MyG21 offers no public information regarding its ownership or management team. The use of a virtual office through Regus provides a mail drop in the UK but no substantive connection to MyG21's day-to-day operations. Such setups often complicate regulatory oversight, making it difficult to pinpoint the individuals responsible for a scheme's activities or to serve legal documents.
Most of MyG21's promotional materials are in Italian. Web traffic analysis indicates over 80 percent of its audience originates from Italy. This strong geographic concentration, coupled with the hidden UK registration, suggests a deliberate attempt to obscure the scheme's true origin and leadership. Regulators in both countries face challenges tracing accountability across borders when basic company information is hidden.
The company operates an e-commerce portal called MyShop, which connects to third-party retailers. MyG21 itself sells no unique products or services. Instead, affiliates earn GCoins by making purchases through MyShop. They also earn GCoins when they recruit new affiliates who then make purchases of their own.
MyG21's internal points system, GCoins, lacks any intrinsic or extrinsic value outside the company's controlled platform. Unlike widely accepted loyalty programs or decentralized digital currencies, GCoins cannot be traded on open markets, used for purchases beyond the MyShop portal, or converted to fiat currency without specific thresholds and MyG21's approval. This creates a closed loop where MyG21 dictates the perceived value and liquidity of its own reward system.
The core of MyG21's operation is not product sales but the continuous recruitment of new participants. Affiliates earn GCoins not just by purchasing through the MyShop portal but, more significantly, by bringing in new recruits who also make purchases. The scheme allows affiliates to convert 50 GCoins into cash, providing the primary incentive for participation.
MyG21's compensation structure reveals a clear pyramid model. The system includes eight affiliate ranks, each requiring progressively more recruitment. A "Smart Sharer" needs one recruit. To become a "Privileged Sharer," an affiliate must recruit three people who meet specific GCoin thresholds. The highest tier, "Privileged Sharer *," demands 250 personal GCoins and three recruits, each holding 200 GCoins. This steep progression means significant financial outlay or extensive recruitment is required to reach higher earning potential.
This structure forces affiliates to focus on bringing in new people rather than selling actual products. The scheme's payouts rely on a constant influx of new money from new participants. As long as recruitment grows, GCoins can theoretically be "converted" to cash, funded by the purchases of those entering the system. But when recruitment slows, the flow of new money diminishes, making it impossible for later-stage participants to cash out their GCoins. This mechanism inevitably leads to widespread financial losses for those at the lower tiers.
Regulatory bodies globally, including the US Federal Trade Commission (FTC), the UK Financial Conduct Authority (FCA), and Italy's CONSOB, actively investigate schemes exhibiting these characteristics. Anonymous ownership, the absence of genuine products, and compensation plans driven primarily by recruitment are key indicators of illegal pyramid schemes. Such operations often face cease-and-desist orders, asset freezes, and civil penalties once regulators act. The Financial Conduct Authority in the UK frequently warns consumers against schemes that promise high returns from recruitment-based models, especially those with opaque ownership structures.