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 Boss Venture

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rymkk
post Jan 29 2014, 06:22 PM

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QUOTE(edison1437 @ Dec 31 2013, 10:09 AM)
i dont understand the 1 highlighted

RM825 is the entry amount. to have the principle back you need 7 month. unless you add another USD 30 for 6 months.

Right?
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I know this is too late to reply on the thread but I found this interesting.

The start up cost is RM825 or USD250 (250x 3.3). You are paying for the franchise fee to become the company Reseller Licensee not enrollment fee.

How do you make money staying passive?

From the USD250, USD100 is used to buy peek credits that will generate up to 1.5% daily payment known as Daily Sales Incentive. No sponsoring is necessary to earn from the business because of revenue sharing concept.

The company allocates 20% of its global daily sales from peek credits and physical products from its e-Mall - BVMalls.Com to be shared by their resellers as Daily Sales Incentive. Now, if they can pay up to 1.5% daily from the 20% allocation, the global daily sales volume must be huge.

What is peek credit? It is a discount value that can be used for shopping at the online mall. Why is it valuable? Because you cannot shop at the mall without buying peek credits. You use peek credits to buy things. Who says it is money game?

Top up here means to buy peek credits so that your Daily Sales Incentive value will increase. Istead of getting USD1.50 daily, you will get more. The minimum top up is USD500 and max is USD10,000. Does get rich quick scheme have max amount?

The USD30 top up is for a reseller to qualify for the earn 3% overriding incentives from their referrals Daily Sales Incentive earnings.

Although the network marketing plan is based on binary system BUT they incorporate 5 x 5 matrix plan to prevent the build up of the so called pyramid system. That means you can only have a total of 3905 people in your network. And 5x5 matrix will give you a clear indication of your potential income. So, this is not a pyramid scheme.

As for Cash Deal Sdn Bhd MSC status I don't think they misused the status at all because the company core activities as per MSC registration are Research, development and commercialization of Digital Neural Application (D.N.A) and e-Mall Solution.

They helped developed BossVenture online mall BVMalls.Com, which is within their core activities.

Will this be another Geneva, American Euro Index, Swiss Cash, Mirza?

Well, for sure those mentioned above either does not have a license to take deposit from the public or not licensed to manage other people money.

ONLY licensed commercial banks can take deposits from the public. And ONLY licensed investment company can invest people money.

They need license from Bank Negara Malaysia and Security Commissions, which this case those companies DOES NOT have therefore deemed Get RICH Quick Scheme. That's WHY they are closed down! Ha ha ha..

This post has been edited by rymkk: Jan 29 2014, 07:57 PM
rymkk
post Feb 15 2014, 09:44 PM

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QUOTE(Azurika @ Feb 13 2014, 12:27 PM)
Erm, I might have misunderstood your meaning, but how is this related to BossVenture where clearly stated they are not doing investments or taking deposits?  Basically the users are trading their cash for peek credits which generates the passive income right ? If so, aint this more to "purchasing" rather then "deposits" ?
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Err.. You may have misunderstood those part you put in red as I was replying to the following ....


QUOTE(escargo75 @ Jan 19 2014, 03:08 PM)
I just cannot understand how the company make money except getting money from new members. You got 100% discount - are you kidding? It means you buy without paying a penny. How the hell a e-commerce stall make money like that? Somemore boast got MSC status and have established all over Asia?

Why the authority taking action like Geneva? Really need to wait till is too late?
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Will this be another Geneva, American Euro Index, Swiss Cash, Mirza?

Well, for sure those mentioned above either does not have a license to take deposit from the public or not licensed to manage other people money.

ONLY licensed commercial banks can take deposits from the public. And ONLY licensed investment company can invest people money.

They need license from Bank Negara Malaysia and Security Commissions, which this case those companies DOES NOT have therefore deemed Get RICH Quick Scheme. That's WHY they are closed down! Ha ha ha..
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rymkk
post Feb 20 2014, 07:58 PM

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QUOTE(riin_mon @ Feb 18 2014, 02:41 PM)
Hi rymkk, yes It is eventually a scam.

Here are some general information regarding Ponzi scams

1) They could use any "vehicle" to run the scam, most use "investments" as vehicle, like forex trading, livestock like palm estate, gold or agar wood. Scammers could also use "business" to launch their Ponzi, bottom line, as long as the return is a "transfer of wealth" from new investors to old investors. It is a Ponzi, if the profit comes from below:
   a) new investors or
   b) reinvested money from old investors)
2) There are 2 big things to lookout to spot a Ponzi,
   a) They "always" successfully pay the "profit" to early investors without fail. They will make it look and seems believable to fish for more "buy in" investors.
   b) They "always" have a method for investors to "reinvest" their earnings and to get "more profit" via re-investment, and would always discourage cash out.

most Ponzi can last to couple of years due to the above 2 points, as old investors keep pumping in their so called "profit" while looking for "new believers"

hope this helps clear some doubts
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Hi riin_mon,

Thanks for the input. Well, gosh. It seems everyone here have something interesting to say about this topic. Will bossventure eventually turn into scam? I have no idea.

But they are celebrating the 3rd anniversary of the company's online mall BVMalls.Com on 22 February 2014.

Personally, I don't fancy investment scheme. I'd rather trade FOREX myself than join investment scheme.

I found Boss Venture different because they are just like a regular home business opportunity program like Melilea, Elken, e-Cosway, Amway, etc.

But they are not direct sales company so they don't need AJL license. They don't sell their own products but operates an online mall with participating merchants, just like a shopping complex with many shops operators.

The one thing that makes them unique is they employs revenue sharing concept that pays out up to 1.5% as daily sales incentive. And that I believe many of us immediately start to think they are one of those schemes.

Imagine Lazada.Com starts their own reseller licensee referral program and share a portion of their daily sales volume to their affiliates. I wonder if they will also be called "ponzi" scheme?

Anyway, just my 1 cents of thought.

This post has been edited by rymkk: Feb 20 2014, 08:31 PM
rymkk
post Feb 21 2014, 05:25 AM

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QUOTE(yugimudo @ Feb 20 2014, 09:16 PM)
Yeah, right. But what makes boss venture categorized under unlicensed activities?

Cash Deal is registered with ssm and their msc core activities stated as Research, development and commercialization of Digital Neural Application (D.N.A) e-Mall Solution.

Bill of Guarantee No. 4: To give the freedom to source capital globally for MSC Malaysia infrastructure, and the right to borrow funds globally.

Interpretation

Flexibility to Source Capital and Funds Globally

Responsible Ministries / Agencies

§ The Central Bank of Malaysia (Bank Negara Malaysia).


I believe before the MSC status given approval, BNM must gone through the necessary documents. Now as of February, they are saying the company is doing unlicensed activities?

Oh my. No wonder BNM has once again approves car insurance rates hike. They just approve things blindly then later gives excuses. Buaya Nasional government is like that. Infested with corruption.
rymkk
post Feb 21 2014, 09:09 AM

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QUOTE(Azurika @ Feb 21 2014, 09:02 AM)
Its the same with most MLM or whatever business plan in the market.
If company sustain, the non believers will butthurt
If company shutdown, the believers will butthurt
cool2.gif
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Hahaha... that's a good one.


It seems in Malaysia, everything becomes illegal and scam when a company starts paying more than the banks, unit trust, insurance and takaful companies are paying annually.

Why EPF is never scrutinized when only during the election time they declared 6.5% dividend from the billions of contributors’ monies when all this while it has been revolving around 4% to 4.5% per year?

The real facts is those registered financial providers are only paying a fraction of the company’s daily profits to their investors and that portion is paid annually. Imagine a company earning RM1 Million daily profits but only pays RM40,000 of that daily profits as the company yearly dividend.

That is the real scenario in Malaysia.

Ha! Another one of my 1 cents thought.
rymkk
post Feb 21 2014, 12:04 PM

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QUOTE(Azurika @ Feb 21 2014, 09:30 AM)
Simple bro
Banks, Unit Trust, Insurance, EPF had a history of >10 years running
- they pay lower, people feel save and assured with long established companies. 
New MLM < 3 years
- they pay high at first to bring in the numbers, if they are legit and sustain , the payout will be revamped later on.
if is a scam, butthurt everywhere ~

Who do you trust in sustainability ?  brows.gif
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Yup! You got a good point there. "Sustainability."

I still say their annual returns could do better. But our financial markets are tightly control by the government. For what reason, only they know.

Now the economy is slow. People are not earning as much and as fast as the increasing prices of goods and services.

So, boss venture comes out with their revenue sharing program to recession proof their affiliate’s income. But the government sees this as a threat to their own existences. To cover up their own weakness in solving the country's ailing economy they came out with all sorts of nonsense. And one of them is latest BNM alert on Cash Deal Sdn Bhd.

Being the Chairman of boss venture, I wonder what Hakim Hamidi will have to say about this?






 

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