A renewable energy company finally pulled the plug on its fake partnership with a Ponzi scheme operator after months of stonewalling.
Power On Network, run by Nigel Sandor Allan, Bjorn Thomas, and Jarle Thorsen, needed a legitimate face to sell worthless digital points called XeCoin. So they attached themselves to Exergonix, a real company in the renewable energy sector that had nothing to do with their MLM operation.
This is a classic scam playbook. Stick a rotten apple next to a gold bar and suddenly the apple looks valuable. BehindMLM flagged Power On Network back in late 2016, identifying it as a Ponzi scheme run by veterans of the failed Crypto 888 Club scam. The three operators weren't interested in energy or legitimate business. They just wanted Exergonix's name for their marketing materials.
It worked for a while. Investors saw the Exergonix partnership and bought in. The con men even prepared documents claiming Exergonix would monitor their financial compliance. But there was a problem: Exergonix actually expected answers when they asked questions.
Don Nissanka, Exergonix's CEO, requested basic information about Power On Network's financial health and whether they were following the law. The requests were straightforward. Allan, Thomas, and Thorsen refused to provide anything.
This went on for months. Exergonix sent written requests. They made phone calls. Nothing came back. The operators just ignored every question, banking on the assumption that Exergonix wouldn't dig too deep.
They were wrong.
On July 20th, Exergonix announced they'd terminated the relationship effective May 9, 2017. The company cited "multiple breaches" of their agreement. Translation: Power On Network lied, refused to cooperate, and had no intention of meeting basic compliance standards.
"Despite numerous written and telephone requests for information about GP's financial health and its fiduciary compliance as represented to members of the PowerOn network by Messrs. Allan, Thomas and Thorsen, they failed to provide any details as required under the agreement," Exergonix stated.
The real issue was simple. A legitimate company can't claim fiduciary compliance over a Ponzi scheme, because Ponzi schemes by definition can't meet fiduciary standards. Money flows in, gets paid out to earlier investors, and operators pocket the difference. There's nothing compliant about it.
Power On Network's entire operation depended on that fake legitimacy. Once Exergonix cut ties, the illusion collapsed. The operators had bet everything on fooling a renewable energy company into believing they were legitimate long enough to unload their worthless digital coins on desperate investors.
They lost that bet.
🤖 Quick Answer
What was Power On Network's relationship with Exergonix?Power On Network falsely claimed a partnership with Exergonix, a legitimate renewable energy company, to lend credibility to its XeCoin digital currency scheme. Exergonix had no involvement in Power On Network's multi-level marketing operation and eventually terminated the association after prolonged negotiations.
Who operated Power On Network?
Power On Network was operated by Nigel Sandor Allan, Bjorn Thomas, and Jarle Thorsen. These individuals were previously associated with Crypto 888 Club, an earlier failed scam, and used their renewable energy partnership claim to market worthless digital tokens.
When was Power On Network identified as fraudulent?
BehindMLM identified Power On Network as a Ponzi scheme in late 2016, exposing its fraudulent business model and the backgrounds of its operators in previous
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