In the world of multi-level marketing, scams unfortunately exist, preying on unsuspecting individuals looking to make easy money. One such case is the infamous Infinity2Global (I2G) pyramid scheme. This article delves deep into the details of the case, providing a comprehensive analysis of the fraudulent activities perpetrated by Richard Maike and his accomplices. With a commitment to transparency and exposing misleading practices, we aim to shed light on the dark underbelly of the scam and highlight the consequences faced by those involved.
The Rise of Infinity2Global
Infinity2Global, marketed as a multi-level marketing company, lured individuals with the promise of lucrative returns through the sale of positions in the company. Richard Maike, the mastermind behind the operation, founded I2G and presented it as a legitimate business opportunity. However, as investigations later revealed, I2G was nothing more than a pyramid scheme designed to deceive and defraud its victims.
Unveiling the Pyramid Scheme
Court documents and evidence presented during the trial exposed the true nature of I2G. The United States successfully proved that the company operated as a pyramid scheme, with the majority of its revenue generated through recruitment rather than the sale of actual products or services. The scheme relied on the recruitment of new members, who were enticed to invest in the $5,000 Emperor positions, promising passive income.
The Devastating Impact
The consequences of the Infinity2Global scam were far-reaching, leaving a trail of shattered dreams and financial ruin. Over 90% of individuals who bought a membership in I2G ended up losing money, while only a select few at the top of the pyramid structure profited from the scheme. The evidence presented at trial revealed that I2G sold nearly 5,000 Emperor positions, generating over $30 million in revenue within a span of 15 months.
The Mastermind: Richard Maike
Richard G. Maike, the orchestrator of the Infinity2Global scam, faced multiple charges for his role in the fraudulent operation. Found guilty on all counts, Maike was convicted of Conspiracy to Commit Mail Fraud, Conspiracy to Commit Securities Fraud, Money Laundering, and Attempted Tax Evasion. His use of approximately $3.2 million in I2G funds for personal gain, including the purchase of 1800 acres of ranch land, further highlighted his greed and disregard for the victims of the scheme.
Accomplices in Crime
Maike was not alone in perpetrating the Infinity2Global scam. Doyce G. Barnes, the Vice President of Marketing for I2G, played a significant role in promoting and facilitating the fraudulent activities of the company. Barnes, along with Faraday N. Hosseinipour, a top promoter, were both found guilty of Conspiracy to Commit Mail Fraud and Conspiracy to Commit Securities Fraud. Their involvement further emphasized the extent of the deception perpetrated by the individuals behind I2G.
The Legal Battle
The trial of Richard Maike, Doyce Barnes, and Faraday Hosseinipour was a significant milestone in the pursuit of justice for the victims of the Infinity2Global scam. Starting on July 12, 2022, the trial concluded with a verdict on September 7, 2022, after four hours of deliberation. The jury’s unanimous decision to convict the defendants on all charges sent a strong message against fraudulent practices in the multi-level marketing industry.
Sentencing and Restitution
Sentencing for Richard Maike, Doyce Barnes, and Faraday Hosseinipour has been scheduled for December 12, 2022. While the exact prison terms are yet to be determined, Maike faces a maximum sentence of 125 years, while Barnes and Hosseinipour could face up to 25 years each. Additionally, restitution hearings will be held to ensure that the victims of the scam receive compensation for their losses.
Continuing Investigations and Future Trials
The Infinity2Global case is far from over. Richard Anzalone, a co-defendant who pleaded guilty to Conspiracy to Commit Securities Fraud, awaits sentencing at a later date. Dennis Dvorin and Jason Syn, two other co-defendants, have been severed for trial, with no trial date set yet. The Federal Bureau of Investigation (FBI) and the Internal Revenue Service (IRS) Criminal Investigation continue their efforts to bring all those involved in the scam to justice.
The lack of regulation or the presence of poor regulation is a huge red flag. It means Infinity2Global 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 Infinity2Global, 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?
During its operation, Infinity2Global accepted various payment methods from its victims. As a part of their recruitment strategy, I2G encouraged individuals to invest in the $5,000 Emperor positions, promising substantial returns. Payments were typically made through wire transfers or bank transactions, facilitating the movement of funds to support the fraudulent activities of the scheme. The use of these payment methods further enabled the perpetrators to conceal their illicit gains.
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.
Handling complaints is crucial for any legitimate business. However, in the case of Infinity2Global, the company’s fraudulent nature made it impossible for them to address complaints effectively. As a pyramid scheme, I2G’s primary focus was on recruiting new members to sustain the scheme rather than providing legitimate products or services. Victims of the scam had little to no recourse for their grievances, as the entire operation was built on deception and exploitation.
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.
Given the fraudulent nature of Infinity2Global, it is not surprising to find negative reviews and testimonials from victims of the scam. Online platforms and forums have become a space for individuals to share their experiences and warn others about the dangers of getting involved with I2G. These testimonials serve as a stark reminder of the devastating impact the scam had on people’s lives and the importance of due diligence when considering any investment opportunity.
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 Infinity2Global 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 Infinity2Global 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 Infinity2Global, chances are, you wouldn’t find many legitimate reviews.
Another prominent way scammers like Infinity2Global enhance their credibility is by burying negative reviews and complaints under a lot of fake reviews.
This way, when you’ll look up “Infinity2Global reviews”, you might not find many complaints. Or, you might find them buried within numerous reviews praising Infinity2Global.
You should always look out for consumer complaints. In the case of Infinity2Global, 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 Infinity2Global? You can share your complaint in the comment section or submit an anonymous tip.
The Infinity2Global scam stands as a testament to the dark side of the multi-level marketing industry. Richard Maike and his co-conspirators exploited the dreams and aspirations of individuals, leaving them in financial ruin. The conviction of Maike, Barnes, and Hosseinipour represents a significant victory in the fight against fraudulent schemes. However, the battle is far from over, as investigations continue and future trials await. We must remain vigilant and learn from such cases to protect ourselves and others from falling victim to similar scams in the future.
Infinity2Global 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 Infinity2Global 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 Infinity2Global?
All the evidence suggests that Infinity2Global 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 Infinity2Global a scam?
Can I withdraw money from Infinity2Global?
Where is Infinity2GlobalLocated?
How do I get my money back from Infinity2Global?
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.