Roosevelt Assets has been identified as a risky opportunity by Intelligence Commissioner users. It is similar to QubitTech. We’ve received over 6 complaints against Roosevelt Assets.
Roosevelt Assets lacks transparency regarding ownership and features fabricated testimonials. Despite claiming 20 years of experience, its website has only been operational for a short period. The company, asserting a UK address, redirects visitors to a Russian-language Google Maps link, suggesting Eastern European involvement. Considering the UK’s ban on MLM cryptocurrency schemes, Roosevelt Assets’ activities may be unlawful if connected to the UK. Additionally, its business model, focusing on recruitment without tangible products, raises concerns about pyramid scheme characteristics. Investors should exercise caution and verify legitimacy when dealing with such entities, especially without regulatory oversight.
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Key Takeaways
Is Roosevelt Assets Regulated? Do They Have a License?
The website of Roosevelt Assets lacks transparency on its ownership or managerial leadership. The domain name “rooseveltassets.com” was registered privately on May 15th, 2023, and the website has been operational for a brief period.
Although the website asserts to possess “20 years of experience,” this claim is inaccurate given the short duration of its existence. Furthermore, the website exhibits fabricated testimonials featuring manipulated avatars.
Roosevelt Assets asserts its legitimacy and furnishes a corporate address situated in the United Kingdom. Nevertheless, upon clicking the link, visitors are led to a Russian-language iteration of Google Maps. These findings indicate that the company might have Eastern European participation, possibly from individuals of Russian or Ukrainian origin.
In addition, the company’s “whitepaper” asserts that its developers have successfully developed a highly secure cryptocurrency platform that facilitates investments in cryptocurrency pools. On October 8th, 2023, the Financial Conduct Authority (FCA) of the UK prohibited multi-level marketing (MLM) cryptocurrency investment schemes. If Roosevelt Assets has any authentic connections to the UK, their activities could be considered unlawful.
Furthermore, the company’s website and whitepaper contain a roster of executive identities that have been unlawfully used. If an MLM firm lacks transparency regarding its leadership or ownership, it is prudent to question the decision to join or place faith in any financial transactions.
The lack of regulation or the presence of poor regulation is a huge red flag. It means Roosevelt Assets 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 Roosevelt Assets, 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?
Trading Conditions and Deposit/Withdrawal Methods at Roosevelt Assets
Roosevelt Assets operates under a business model that does not entail the sale of any physical products or services. However, only affiliates within the company have the authorization to promote the affiliate membership of Roosevelt Assets exclusively. Consequently, affiliates primarily generate revenue by enlisting new members, rather than by selling tangible things or services.
Nevertheless, the emphasis on enlisting members without incorporating any retail aspect gives rise to apprehensions regarding the authenticity and long-term viability of Roosevelt Assets’ activities, since it exhibits traits typically linked to pyramid schemes.
Within a hierarchical framework, affiliates are motivated to enlist new members who, subsequently, contribute funds that are subsequently allocated among the affiliates with higher ranks. The business’s sustainability relies significantly on ongoing recruiting due to the absence of a legitimate product or service, which presents potential financial instability and ethical dilemmas.
Furthermore, the lack of retail options may give rise to legal concerns, as reputable MLM enterprises often engage in the selling of goods or services directly to consumers, differentiating them from pyramid schemes.
Roosevelt Assets claims that its affiliates allocate funds to cryptocurrency counterparts, offering guaranteed returns depending on different investment levels:
- Begin by investing an amount ranging from $10 to $500 and in return, you will receive a daily interest rate of 1.4% for a duration of 15 days.
- Invest between $500 and $2500 and get a daily interest rate of 1.8% for a period of 30 days.
- Invest between $2500 and $5000 to obtain a daily return of 2% for a period of 35 days.
- Invest between $5000 and $10,000 and get a daily interest rate of 2.3% for a period of 40 days.
- Invest between $10,000 and $50,000 to obtain a daily interest rate of 2.7% for a duration of 45 days.
- Investing $50,000 to $100,000 in our high-end program will yield a daily return of 3% for a period of 50 days.
Roosevelt Assets also claims that it utilizes a unilevel system to remunerate its affiliates, positioning them at the highest level alongside individually recruited affiliates who constitute level 1.
The structure has the potential to develop to an infinite number of levels, however Roosevelt Assets limits the number of payable team levels in the unilevel system to ten. The referral commissions are distributed based on the bitcoin invested in different levels: 7% on level 1, 2% on level 2, 1% on levels 3 to 5, and 0.5% on levels 6 to 10.
According to Roosevelt Assets, it states that being an affiliate is without any cost. Nevertheless, in order to actively participate in the corresponding earning opportunity, individuals are required to invest a minimum amount of $10. Roosevelt Assets promotes investing in several cryptocurrencies to engage in its profit-generating endeavors.
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.
Roosevelt Assets 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 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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Roosevelt Assets 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 Roosevelt Assets 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 Roosevelt Assets 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 Roosevelt Assets, chances are, you wouldn’t find many legitimate reviews.
Another prominent way scammers like Roosevelt Assets enhance their credibility is by burying negative reviews and complaints under a lot of fake reviews.
This way, when you’ll look up “Roosevelt Assets reviews”, you might not find many complaints. Or, you might find them buried within numerous reviews praising Roosevelt Assets.
You should always look out for consumer complaints. In the case of Roosevelt Assets, 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 Roosevelt Assets? You can share your complaint in the comment section or submit an anonymous tip.
Is Roosevelt Assets Legit Or Scam?
Roosevelt Assets generates external revenue through real estate investments. Their claim is that their investments in diverse real estate funds provide returns that assist investors in achieving their financial objectives. Nevertheless, there is no substantiation to validate the assertion that Roosevelt Assets satisfies withdrawals using foreign income.
Moreover, the purported real estate investments, together with the testimonials, executives, and a UK location, seem to be falsified. Furthermore, the business model employed by Roosevelt Assets gives rise to issues based on Ponzi logic.
Roosevelt Assets asserts on their website that they have $1.7 billion in “assets under management,” despite their relatively brief existence. This assertion, in addition to the proposition of obtaining in for a mere $10, contradicts the evident feasibility of the enterprise.
The lack of verified revenue streams beyond new contributions suggests the presence of a potential Ponzi scheme, wherein funds from new members are utilized to fulfill withdrawal requests.
Roosevelt Assets collapses as a result of the classic MLM Ponzi scheme pattern, where a decrease in affiliate recruitment results in a loss in new investments. The outcome of this situation may lead to monetary deficits for the majority of individuals involved.
As of November 13th, 2023, Roosevelt Assets has had a collapse, resulting in the disabling of withdrawals despite the website remaining operational.
Roosevelt Assets 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 Roosevelt Assets 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 Roosevelt Assets?
All the evidence suggests that Roosevelt Assets 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
Is Roosevelt Assets a scam?
Can I withdraw money from Roosevelt Assets?
Where is Roosevelt Assets Located?
How do I get my money back from Roosevelt Assets?
How The Roosevelt Assets Online Scam Works
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