Global Aid Club has been identified as a risky opportunity by Intelligence Commissioner users. It is similar to OBC AI. We’ve received over 5 complaints against Global Aid Club.
Global Aid Club, which initially promised profits and giving back, was quickly exposed as a Ponzi scheme run by Andrew Colquhoun and Michael O’Brien. As a result of unregulated activity, investors suffered losses. Detecting red flags like this is crucial in the battle against fraud. Scammers deceive by using fake reviews and aggressive marketing, emphasizing the necessity of financial fraud knowledge and reporting.
In late September 2023, a new platform called Global Aid Club emerged, enticing individuals with promises of financial gains and the opportunity to make a difference in the world.
However, a closer examination reveals a dark reality behind this seemingly noble venture. This article dives deep into the Global Aid Club Ponzi scheme, exposing its fraudulent practices and shedding light on the individuals responsible for its creation and operation.
![Global Aid Club](https://www.intelligencecommissioner.com/wp-content/uploads/2023/12/Global-Aid-Club-1-1.png)
Global Aid Club officially launched in late September 2023, presenting itself as a platform that aimed to provide financial aid to those in need. However, it soon became apparent that there was more to this venture than meets the eye. On October 5th, a smart-contract was created for Global Aid Club, setting the stage for what would later be revealed as a Ponzi scheme.
Just two days after the creation of Global Aid Club’s smart-contract, BehindMLM, a reputable source for exposing fraudulent schemes, conducted a thorough review of the platform. On October 7th, their investigation concluded that Global Aid Club was indeed a Ponzi scheme, designed to deceive unsuspecting investors.
As of October 5th, Global Aid Club’s smart-contract held a staggering 530 BNB, equivalent to approximately $111,720. This amount skyrocketed to $1048 BNB ($222,492) on October 7th, reflecting the substantial investments made by individuals hoping to profit from the scheme.
However, the financial tide quickly turned. On October 8th, the smart-contract balance plummeted to a mere 2 cents, leaving investors in disbelief. It became evident that only the scheme’s administrators, including Andrew Colquhoun, early investors, and top promoters, reaped any financial benefits from Global Aid Club.
The lack of regulation or the presence of poor regulation is a huge red flag. It means Global Aid Club is a scam and most likely, an illegal operation.
Companies offering investment services or opportunities without having a license can vanish without leaving a trace. Furthermore, the lack of a regulatory license allows them to get away with it and face no legal consequences.
That’s why it’s vital for you to always check a company’s regulation status as well as its license information. The presence of a license allows consumers to reach out to an authority if something goes wrong.
In the case of Global Aid Club, victims have nowhere to go due to the absence of a watchdog or license.
You should ask yourself the following questions when you come across a new investment firm or opportunity:
- Does the investment provider maintain transparency about its CEO?
- Do they have a license from a renowned regulatory authority?
- If the need arises, can I reach out to an authority to report this company as a scam?
![Global Aid Club](https://www.intelligencecommissioner.com/wp-content/uploads/2023/12/Global-Aid-Club2.png)
However, it’s worth noting that many scammers disable their payment channels before shutting down their operations.
They might give you multiple reasons including:
- A technical error
- A glitch in their system
- Banking issues
- A “hacking attack”
And many others.
But in 9/10 cases, the scammers actually stop making payments and keep the money to themselves. Hence, the payment methods we discussed here might not work.
If you want to get your money back from a scammer, you’d need to file a chargeback.
When it comes to scammers, you should only measure the quality of their customer service if they respond to your complaint.
In the beginning, scammers tend to remain very accessible.
This means their representatives will keep calling you until you invest with them. Furthermore, they will act friendly and make it seem as if you’re one of their most valuable consumers.
However, they do all this just to win your trust.
Scammers understand that in order to convince someone to give them a large sum, they will need to seem like a friend.
Nevertheless, when you have invested a considerable amount of money and need to get it back, their customer support will become inaccessible.
All of a sudden, their numbers would either stop responding or become unavailable.
Still, they might remain accessible to convince you to invest further. Also, they might begin by making a few excuses regarding your payment.
However, in the end, the customer support won’t resolve your issues and become increasingly unavailable.
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It’s worth noting that many scammers tend to purchase fake reviews. Buying fake reviews has become extremely easy and it’s a multi-million dollar industry.
Scammers like Global Aid Club tend to purchase fake reviews for their online profiles to make themselves seem more credible.
TIME Magazine investigated the fake review industry and estimated it to be worth more than $150 million. Certainly, there are a ton of scammers who want to seem legitimate and a bunch of fake reviews is the most effective way to do so.
That’s why you shouldn’t trust Global Aid Club reviews easily.
It’s easy to identify fake reviews as well. You should look out for 5-star reviews that are posted by temporary accounts (profiles which only posted 1 or 2 reviews on the platform). Also, you should see if the positive reviews share any detailed information about their experience with the firm or not.
In the case of Global Aid Club, chances are, you wouldn’t find many legitimate reviews.
Another prominent way scammers like Global Aid Club enhance their credibility is by burying negative reviews and complaints under a lot of fake reviews.
This way, when you’ll look up “Global Aid Club reviews”, you might not find many complaints. Or, you might find them buried within numerous reviews praising Global Aid Club.
![Global Aid Club reviews coverage Global Aid Club reviews coverage](https://www.intelligencecommissioner.com/wp-content/uploads/2023/12/image-6-1024x611.png)
You should always look out for consumer complaints. In the case of Global Aid Club, the most common complaints I found were about:
- Poor customer support
- Delays in payments
- High fees and charges
- Lack of transparency regarding their leadership team
- Aggressive sales staff
Do you have a similar complaint about Global Aid Club? You can share your complaint in the comment section or submit an anonymous tip.
The Global Aid Club Ponzi scheme serves as a stark reminder of the need for vigilance and critical analysis in the realm of investment opportunities. As investors, it is crucial to conduct thorough research and seek trusted sources of information before committing our hard-earned money.
The unmasking of Andrew Colquhoun and Michael O’Brien as the individuals behind this deceitful scheme should serve as a call to action for authorities and regulators to protect innocent individuals from falling victim to similar scams in the future.
Investment decisions should always be approached with caution, skepticism, and a commitment to transparency. By remaining informed and aware, we can collectively combat fraudulent schemes like Global Aid Club and safeguard our financial well-being. Remember, if an opportunity seems too good to be true, it likely is.
Global Aid Club is an unregulated entity. Although they might fall under the jurisdiction of a watchdog, they don’t have the license to offer financial services to consumers.
The lack of a license means they are not answerable to any regulatory authority. As a result, the people behind Global Aid Club can run away with your money without any prior notice. You should be extremely cautious when dealing with an unregulated service provider.
The absence of a watchdog also means you cannot report to them to anyone.
Also, due to the absence of specific regulations, there is no provision protecting you from the insolvency of this entity. If they go bankrupt, you won’t be able to do anything about it.
Can You Trust Global Aid Club?
All the evidence suggests that Global Aid Club is a scam. If you have lost money to them, there is still a chance you can get it back.
To recover your funds, you’d need to file a chargeback.