Mind Capital has been identified as a risky opportunity by Intelligence Commissioner users. It is similar to Money Ocean FX. We’ve received over 5 complaints against Mind Capital.
Mind Capital, a bitcoin MLM company led by gambling expert Gonzalo Garcia-Pelayo, is accused of running a scam. Despite promising daily ROIs and accepting deposits ranging from $100 to $100,000, its operations lack transparency, particularly because it offers no retailable products and relies only on affiliate contributions. The company, which failed in August 2021, has been linked to larger Ponzi schemes, including one involving David Gilbert Saffron that resulted in over $25 million in damages. Mind Capital’s operations, which lack a regulatory license, are not only untrustworthy but may also be unlawful, leaving victims with no recourse.
Get Your Money Back From These Scammers!
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Key Takeaways
Is Mind Capital Regulated? Do They Have a License?
Mind Capital operates in the bitcoin MLM (Multi-Level Marketing) space. The company has been ambiguous regarding its operations, particularly by failing to offer contact information on its website. However, marketing materials from December 2019 mention plans to open offices in Madrid.
Gonzalo Garcia-Pelayo leads the company, and Mind Capital’s marketing highlights him as a gambling specialist known for his methods of “beating roulette” by researching the weaknesses of roulette wheels. Despite his lack of experience in the MLM or cryptocurrency sectors, Garcia-Pelayo is the face of Mind Capital, however the reasons for this are unknown.
David Gilbert Saffron, who was tied to several Ponzi schemes, including Mind Capital, was indicted on wire fraud and other offenses. These frauds allegedly resulted in over $25 million in consumer losses. Mind Capital, among others, was revealed as a member of this fraudulent network, which failed in August 2021.
The lack of regulation or the presence of poor regulation is a huge red flag. It means Mind Capital 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 Mind Capital, 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?
Concerning Issues Present at Mind Capital
Mind Capital does not provide any retailable items or services. Affiliates have only one option: promote Mind Capital’s membership itself.
Affiliates invest between $100 and $100,000 with the promise of a daily ROI of 0.5% to 1.5 percent. Earnings are generally earned from recruiting new affiliates with similar assets.
To pay residual commissions, the corporation uses a unilevel compensation structure. In this arrangement, an affiliate is at the top, with directly recruited affiliates below them constituting the successive layers. This system can theoretically stretch indefinitely, but Mind Capital limits payable levels to 10. Commissions are calculated as a proportion of returns from various tiers, with rates varying according to the level and total investment volume generated by the downline.
To join Mind Capital, a $100 minimum investment is required. Credit cards are accepted, however all transactions are converted to Bitcoin. Withdrawals are likewise processed in Bitcoin, highlighting the company’s reliance on cryptocurrencies.
Mind Capital claims that its revenues come from AI algorithms that optimize buying and selling chances in bitcoin trading. However, these assertions are questioned due to a lack of proof demonstrating the usage of external money to pay affiliates.
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 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.
Mind Capital Customer Service: Do They Handle Complaints Well?
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 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, customer support won’t resolve your issues and become increasingly unavailable.
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Mind Capital Reviews: What Do Others Say?
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 Mind Capital 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 Mind Capital reviews easily.
It’s easy to identify fake reviews as well. You should look out for 5-star reviews posted by temporary accounts (profiles that 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 Mind Capital, chances are, you wouldn’t find many legitimate reviews.
Another prominent way scammers like Mind Capital enhance their credibility is by burying negative reviews and complaints under a lot of fake reviews.
This way, when you’ll look up “Mind Capital reviews”, you might not find many complaints. Or, you might find them buried within numerous reviews praising Mind Capital.
You should always look out for consumer complaints. In the case of Mind Capital, the most common complaints I found were about:
- Poor customer support
- Delays in payments
- High fees
- Lack of transparency regarding their leadership team
- Aggressive sales staff
Do you have a similar complaint about Mind Capital? You can share your complaint in the comment section or submit an anonymous tip.
Is Mind Capital Legit Or a Scam?
Mind Capital 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 Mind Capital can run away with your money without any prior notice. It would help if you were 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 Mind Capital?
Mind Capital’s business strategy, which lacks real products and relies heavily on affiliate investment, is closely related to the features of a Ponzi scam. The company’s demise, combined with its involvement in larger fraudulent actions, highlights the risks associated with such MLM cryptocurrency ventures.
All the evidence suggests that Mind Capital 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.
Frequently Asked Questions
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How The Mind Capital Online Scam Works
Intelligence Commissioner investigates & reviews online money-making opportunities. We strive to provide critically helpful information to our readers and assist them in identifying scams. 
