In the world of online investment opportunities, it’s crucial to exercise caution and thoroughly research any company before investing your hard-earned money.
One such company that has been making waves recently is Halo Charge.
With its promises of substantial returns and a unique business model centered around electric vehicle (EV) charging, Halo Charge has caught the attention of many potential investors in Pakistan.
However, a closer examination reveals a web of deception, bogus information, and misleading claims.
Transparency is a crucial factor when considering any investment opportunity.
Unfortunately, Halo Charge fails to provide essential information about its ownership or executive team on its website. This lack of transparency raises red flags and leaves potential investors in the dark about who is truly behind the company.
Furthermore, upon investigating the domain registration details, it was discovered that the information provided was fake, further deepening the mystery surrounding Halo Charge’s origins.
Delving deeper into Halo Charge’s website source code reveals an intriguing detail – the presence of Chinese characters. This strongly suggests a potential connection between Halo Charge and individuals or entities in China.
While this alone does not prove any wrongdoing, it adds another layer of suspicion and raises questions about the company’s motives and intentions.
One of the most alarming aspects of Halo Charge is its lack of retailable products or services. Unlike legitimate businesses that offer tangible goods or valuable services, Halo Charge focuses solely on marketing its affiliate membership.
This raises concerns about the company’s sustainability and legitimacy. Without a solid product or service to generate revenue, Halo Charge relies heavily on recruiting new affiliates to sustain its operations.
The lack of regulation or the presence of poor regulation is a huge red flag. It means Halo Charge 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 Halo Charge, 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?
Halo Charge’s compensation plan is centered around affiliate investments, promising substantial returns for those who participate. Affiliates are required to invest a certain amount in Pakistani Rupees (Rs.) and are then promised daily returns based on their investment level. However, these promises of high returns should be approached with extreme caution, as they often serve as a smokescreen for Ponzi schemes.
Halo Charge operates as a multi-level marketing (MLM) company, relying on the recruitment of new affiliates to sustain its business model. Affiliates are incentivized to recruit others, with commissions paid out on three levels of recruitment (unilevel). The commission structure is as follows:
- Level 1 (personally recruited affiliates) – 20%
- Level 2 – 5%
- Level 3 – 1%
This MLM structure raises concerns about the sustainability of Halo Charge’s business model and highlights its reliance on continuous recruitment to generate income.
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.
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 Halo Charge 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 Halo Charge 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 Halo Charge, chances are, you wouldn’t find many legitimate reviews.
Another prominent way scammers like Halo Charge enhance their credibility is by burying negative reviews and complaints under a lot of fake reviews.
This way, when you’ll look up “Halo Charge reviews”, you might not find many complaints. Or, you might find them buried within numerous reviews praising Halo Charge.
You should always look out for consumer complaints. In the case of Halo Charge, 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 Halo Charge? You can share your complaint in the comment section or submit an anonymous tip.
Halo Charge 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 Halo Charge 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 Halo Charge?
All the evidence suggests that Halo Charge 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.
Is Halo Charge a scam?
Can I withdraw money from Halo Charge?
Where is Halo Charge Located?
How do I get my money back from Halo Charge?
Launch a website/app with a generic name
A website or app with a generic name allows scammers to hide behind common Google search results. Marketing such names is easier as well.
Pay influencers & social media pages to promote the scheme
By getting influencers and social media pages to promote their brand, scammers make their shady company seem more legit than it actually is.
Send thousands of emails and make cold calls to potential victims
It’s common for scammers to buy the contact details of people and spam them through email, phone calls, social media messages and other means.
Make victims feel safe through “small wins”
Such small wins usually include a few payments transferred into the victim’s account. This makes them seem more legitimate.
Convince victims into investing large sums of money
Due to the small wins, the victim is now convinced that the company is legit. Now, the scammers try to manipulate the victim into giving them larger sums.
Disable withdrawals & take down the website/app
Once the scammers have recieved a signicant sum, they either stop responding or cite a technical error to freeze their victims’ funds.
Repeat the cycle
After making the money, the scam will shut down and the people running it will launch another and repeat the cycle.