Global Sponsorship Network Review: Legit MLM or another Ponzi?
Welcome to my Global Sponsorship Network review!
There has been some buzz about this company so I decided to take a closer look to see what it was all about.
Chances are someone approached you about the business opportunity and you landed here to make sure it’s legit.
The good news is I am going to walk you through the company, products and compensation plans so you can make the right decision to join or not.
Global Sponsorship Network (Company)
Landing on their website, Global Sponsorship Network, commonly abbreviated as “GSN”, there is no information provided about who runs or owns this company.
GSN’s website domain (“mygsn.com”) was first registered in 2012, however the private domain registration was last updated on May 21st, 2020.
Considering GSN promotion began after this date, this is likely when GSN’s owners took possession of the domain.
I did a bit more digging and found out two notable persons tied to GSN promotion; Steve Chiang and Simon Le.
Steve Chiang is presented as GSN’s CSO (Chief Sales Officer?).
Simon Le was a top earner in the notorious OneCoin Ponzi scheme. Le is largely responsible for coordinating promotion of OneCoin across the US and Vietnam.
Global Sponsorship Network Products
GSN has no retailable products or services, with affiliates only able to market GSN affiliate membership itself.
Global Sponsorship Network Compensation Plan
GSN affiliates invest 500 or 1000 USDT for GDP at a 1:1 ratio. GDP is a worthless shitcoin created by GSN on demand.
Once invested in, GDP is parked with GSN on the promise of returns as high as 30%.
Investment periods with GSN range from seven to thirty days. The longer an affiliate leaves their USDT with GSN, the higher their return rate.
In one example provided in GSN marketing, a 116% ROI is paid after 23 days.
Note that GSN pays returns in GDP.
GSN Affiliate Ranks
There are 14 affiliate ranks within GSN’s compensation plan.
Here are the ranks:
- Sponsor – sign up as a GSN affiliate and invest
- Pro – generate 60 investments in one month across your personally recruited affiliates
- Bronze – generate 3 personally recruited Pro ranked affiliates
- Silver – generate 3 personally recruited Bronze ranked affiliates
- Gold – generate 3 personally recruited Silver ranked affiliates
- Platinum – generate 3 personally recruited Gold ranked affiliates
- President – generate 4 personally recruited Platinum ranked affiliates
- Executive President – have 1 President or higher anywhere in your downline
- Senior Executive President – have 2 Presidents or higher anywhere in your downline (one per leg)
- International Executive President – have 3 Presidents or higher anywhere in your downline (one per leg)
- Chief Executive President – have 4 Presidents or higher anywhere in your downline (one per leg)
- Chairmans Club – have 5 Presidents or higher anywhere in your downline
- Executive Chairmans Club – have 7 Presidents or higher anywhere in your downline (one per leg)
- Senior Executive Chairmans Club – have 10 Presidents or higher anywhere in your downline (one per leg)
GSN’s residual commissions are tied to rank and paid monthly:
- qualify at Bronze and receive $1000 a month
- qualify at Silver and receive $2000 a month
- qualify at Gold and receive $4000 a month
- qualify at Platinum and receive $8000 a month
- qualify at President and receive $20,000 a month
- qualify at Executive President and receive $25,000 a month
- qualify at Senior Executive President and receive $30,000 a month
- qualify at International Executive President and receive $35,000 a month
- qualify at Chief Executive President and receive $40,000 a month
- qualify at Chairmans Club and receive $100,000 a month
- qualify at Executive Chairmans Club and receive $200,000 a month
- qualify at Senior Executive Chairmans Club and receive $500,000 a month
Joining Global Sponsorship Network
GSN affiliate membership is tied to a 500 to 1000 investment made in USDT.
A $20 transaction fee is also charged.
So is it GSN a scam?
Let’s look at the facts, shall we?
If you check my review on MMM Global, you can see Global Sponsorship Network is a clone of MMM Global.
MMM Global used Mavro Ponzi points. GSN uses GDP Ponzi points.
MMM Global solicited investment under the guise of “providing and getting help”, whereas GSN uses “providing and getting sponsorship”.
MMM Global pitched itself as “money transfers between private persons”, whereas GSN pitches itself as a “global micro lending platform”.
In addition, the same 30% a month ROI is offered, which equates to 1% a day.
Another, important thing to note here is that returns are only realized when withdrawals are made. GSN can only pay withdrawals as long as invested USDT doesn’t exceed company-wide withdrawal requests.
Once withdrawals exceed the rate of invested USDT (this inevitably happens in every Ponzi scheme), GSN heads towards collapse.
GSN doesn’t indicate how it intends to do the exit-scam, however from the Ponzi points model used we know there are just two choices:
- GDP will be unloaded on a couple of dodgy trades and GSN management will disappear; or
- GSN management will avoid the public-trade dump and simply vanish.
In the two situations most of GSN affiliates lose money. This is unavoidable Ponzi math.
While trying to seem genuine, the “legal” part of GSN’s site claims “GSN Technologies Inc.” has a Money Services Business license (MSB).
MSBs are processed by FinCen and GSN Technologies is in fact is enrolled for an MSB.
GSN’s MSB recording was made with a virtual address in Denver, Colorado. FinCen don’t check the data and MSB enlistments can be electronically recorded.
More importantly, a MSB permit doesn’t allow GSN, to offer securities in the US.
A MSB just covers the exchange of cash. It has nothing to do with MLM companies offering passive investment opportunities.
So as to operate legitimately in the US, GSN needs to register with the SEC.
Neither GSN, Steve Chiang or Simon Le are registered with the SEC. Meaning in addition to Ponzi and pyramid fraud, GSN is committing securities fraud.
I couldn’t find any security registretration in any jurisdiction for GSN, which means they are operating just as illegally all over the world.
In conclusion, it is a Ponzi Scam.
I don’t recommend this. Stay Away…
I hope you enjoyed my GSN review and if you have any questions feel free to ask in the comments below…
Now before You go…
Partner up with us by clicking the banner below:
We will show you EXACTLY how to build a business online and customize a plan just for you.
We will help you choose a nice, setup your online business and offers that you can promote.
You can even use a network marketing company if you wish the sky is the limit.
On top of that you will get ONE on ONE mentoring to make sure you are doing things right.
Follow me on Social media below:
Think Rich and see you at the Top!
P.S. If you are tired of failing ANY business, click here and check this out to take your game to the next level.