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Pay Diamond

Pay Diamond
1.2
Rated 1.2 out of 5
Scam Company
1.2 out of 5 stars (based on 5 reviews)

Pay Diamond – The Company Which Operates on Ponzi Schemes, Online Scams & Robs People of Millions 

 

Pay Diamond

It has been estimated that a value worth $2 billion has been spun around in the cryptocurrency market to date. The cost of a single bitcoin came to an estimated $18,737.60, with a worldwide FOMO craze; however, at that point, the cost of bitcoin failed to be as low as $3,209.76 by 15 December 2018. The instability of digital money has not in any way discouraged financial backers attempting to make a speedy profit, and seeing this; numerous scam artists have surfaced in hopes of stealing from crypto investors. There have been reports of consumers being duped by this company called Pay Diamond. Pay Diamond is a Ponzi scheme and a recruitment fraud that claims to offer a golden investment opportunity for people who want to earn significant weekly returns. 

Pay Diamond is believed to be a corporation that buys, processes, as well as sells diamonds in order to share the profits with its recruits at an affordable price. If there have been, we have no way of knowing if Pay Diamond was directly involved. Affiliates of Pay Diamond are allowed to run their businesses as they see appropriate; thus, it’s possible that only the affiliates are participating in frauds – if any exist. We go through the major scam cases reported against pay diamond. 

Crypto May Be Hyped – But You Better Watch Out 

 

Crypto is a digital/online currency that exists entirely on the internet. Unless you use an exchange that allows you to trade cryptocurrencies for a physical token, there is no actual coin or receipt. Without the interference of a middleman such as a financial institution, you usually exchange crypto with someone online, using your phone or laptop. Although Bitcoin and Ether are well-known cryptocurrencies, there are numerous more, and new ones are created

 on a regular basis. 

Scams involving cryptocurrencies generally fall into two categories: 

  • Initiatives aimed at gaining access to a target’s digital wallet or login data. Scammers are working to obtain information that will allow them to gain access to a wallet online or other confidential data such as security codes.
  • This can even include access to real hardware in some circumstances. 
  • Directly sending cryptocurrency to a scammer as a result of impersonation, false investment or business possibilities, or other malevolent tactics. 

Scams involving cryptocurrencies have exploded in recent years as a result of the cryptocurrency boom. As of November 2021, decentralized finance (Defi) users and investors had lost $10.5 billion owing to theft and fraud, increasing sevenfold from $1.5 billion in 2020.

All You Need To Know About Pay Diamond 

 

Pay Diamond is a Multi-Level Marketing (MLM) company that involves investments in diamonds, and it has been gaining a lot of popularity recently. Multi-Level Marketing (MLM), in layman’s terms, is a business strategy utilized by Direct-Sales organizations to encourage their members (or dealers) to recruit new people to join the company. When existing distributors attract new people to become new distributors, this technique gives an additional stream of income. The recruiting distributor receives an additional payment based on a percentage of their recruit’s sales.

However, some people believe Pay Diamond is a rip-off. However, there are many who shout praises for this organization. Pay Diamond purports to be a multi-level marketing organization that buys raw diamonds from mines and resells them for a profit. On their website, there isn’t much information about who owns or controls the company. However, whenever you search for Pay Diamond, the name Carlos Luiz appears frequently, but we have no evidence that shows if he is the company’s founder.

The domain “paydiamond.com” for the Pay Diamond website was first registered in December 2014 and last updated in November 2015. There isn’t much information on Pay Diamond’s website other than what you can see in the image below. Pay Diamond began moving its subscribers to a completely new website called LifeInBlock last year (2018). Pay Diamond is no longer in business, having been purchased by LifeInBlock. LifeInBlock, on the other hand, looks to be a brand-new organization, as it focuses on cryptocurrency trading rather than diamond investments. 

It does, however, offer a binary MLM payout plan for its members, similar to Pay Diamond. By the time I finish writing this Pay Diamond review, the previous firm’s website is still accessible via an alternate domain search of “paydiamondteam.com.” Pay Diamond offers no retailable products or services, save from a few key pieces of information missing from its website.

Pay Diamond affiliates, or investors, can only advertise the Pay Diamond associate membership. This is a significant red flag because, according to the FTC, a Pyramid Scheme is defined as a corporation that claims to be an MLM but cannot produce an actual product line for its members to sell. You can make money using Pay Diamond in two ways. The first is by putting your own money into the company with the promise of a guaranteed weekly return and by recruiting new employees.

Is This Company Legit? 

 

Fake

At one point, Pay Diamond listed its address as SUITE 3601, Two Exchange Square 8 Connaught Place, Central, Hong Kong. We have no way of confirming if they still possess this address because the website is plainly written in Spanish rather than Hong Kong English. In addition, the majority of Hong Kong-based websites are written in English. There’s a possibility that Pay Diamond switched hands, and now it’s under new management with a totally different face behind it.

Pay Diamond has received a lot of criticism from different government authorities and other entities from different parts of the globe, even in its early years of operation. This one was from Manitoba in 2017, and this one was from Pakistan last year (2018). Take note; these are only the ones that I know of. There could be more Pay Diamond scams warning out there. Gilgit-Baltistan residents have put roughly Rs 240 million into a bogus web company. 

Pay Diamond is the name of the company, and 700 people have already deposited a large sum of money in it. Some politicians and retired government officials are among the investors. People were attracted to the company because it offered a high rate of return, prompting them to invest without first confirming its legal status. 

Any corporation conducting internet business in Pakistan must obtain a license from the Pakistan Securities and Exchange Commission (SECP). Pay Diamond, on the other hand, is operating without a license or a time limit for investment. Despite its dubious legal position, the company earned more than Rs 30 million in commissions from investors. 

The public in the area has requested that the firm be prosecuted. It consists of social professionals and politicians who have urged the authorities to take drastic actions. If the business is legit, it should be permitted to operate. Otherwise, the company should be shut down and the funds repaid, according to the demands. A few days ago, the police in the area issued a warning to the public regarding investing in Pay Diamond. 

Pay Diamond is a scam, according to the police warning, and its investors could lose a lot of money. Last year, the National Accountability Bureau (NAB) arrested a representative of another fictitious company in Gilgit-Baltistan. Big Board Advisory Service (Pvt) Ltd was implicated in a massive scam in 2004-05 under the name Big Board Advisory Service (Pvt) Ltd. It offered 18-36 percent annual returns on investments and, in rare circumstances, 100-150 percent annual returns. People invested their money after viewing such a great offer. 

However, the corporation abruptly closed all of its offices in the area and vanished a few days later. There’s no information on whether or if people’s money invested in Big Board was repaid, though the chances of that happening are small.

In another case, the Ghizer Police has, through a widely circulated notice, warned locals against investing in the “Pay Diamond” scheme. They have said that it is a scam, which might cause heavy financial losses for the investors. The police have posted notices in various markets to warn the potential investors. The notice says that Pay Diamond is an illegal and bogus investment scheme. It is estimated that already more than 100 million rupees have been invested in the ‘scheme’ in the Ghizer district.

How Are They Exploiting People for Money? 

 

To begin with, the foundation on which this organization runs is that it combines multi-level marketing with such a high-valued commodity that has a high level of liquidity 24 hours a day, seven days a week. When you want to participate in the Pay Diamond investment scheme, you are supposed to purchase a package that will earn you a weekly bonus of 5% for up to 50 weeks. Fifty weeks is one investment cycle — according to the company. 

When this time period ends, you can use your accrued bonuses to purchase another package and so on. During any investing cycle, Pay Diamond encourages its customers to buy more packages. After all, it’s only “logical” to invest more money in order to earn more commissions. 

This Company is Not Registered 

 

How about learning that this company is not registered to sell securities in its country of operation? You see, this is only possible when we are talking of a classic Ponzi scheme. Those who recruit others earn commissions. The problem is that the company will always benefit a great deal before giving its final blow and disappearing with its affiliates’ money.

Packages offered by Pay Diamond and their profit potential

 

  • Joy package makes you $10 a week if you put in $200. The light package gives you $20 per week when you put in $400.
  • Plus package gives you $60 per week when you put in $1,200.
  • Master gives you $180 when you put in $3,600. Finally, premium earns you $1,800 per week when you invest $36,000.

If You Are Stuck with Scammers Such as Pay Diamond – Reach Out To The Claimers 

 

Claimers

Blockchain technology is extremely sophisticated and protected, yet scam artists have still managed to deploy strategies around it to breach the system and steal innocent victims’ cryptocurrency, hack into their digital wallets, and far worse. If you’ve had a similar situation and want to get your money back, we can help you build a case against your scam artist, engage with relevant financial organizations, and get your money back.

Considering how rapidly cryptocurrency scams are growing, you must do whatever you can to protect yourself and recover the amount that you have lost. Get help today and recover the stolen amount! The Claimers is a firm that works to help recover funds for people. The Claimers has a streamlined process through which they will help you recover your funds.

  • As soon as you report (online contact form on our website), your case will come under review. As said earlier, time is the key! So don’t worry; working on your case will start instantly. Perhaps, one of our expert team members would arrange a meeting with you where you can tell them everything in complete detail. This would create fewer problems and enable them to ask you whatever questions that are unclear. 
  • A case is nothing without facts and evidence; thus, The Claimers team members will dive into the scammer through your own footsteps to retain any information that could help strengthen our case. Firstly, they would make sure you get fake profiles shut down. As the process is automated, it makes it a lot easier. Any phone calls, images, screenshots, billings, conversations, invoices, and overall a digital footprint would be collected to make your case as lawfully strong as possible. 
  • Evidence collection is not enough; in fact, it is the starting point. It is where the paperwork starts, and your information is structured in such a coherent and effective manner that it leaves zero chance of being objective by the financial institutions. This would require legal expertise from our members, and that is what The Claimers love to do! Here they will compile all the details concerning your case, starting with the story of how you met your scammer; they will outline a detailed narrative of the tactics he used to form an emotional bond with you and get into the nitty-gritty of how much he stole from you. If the stolen amount were in parts, the entire timeline would be outlined as well. Additionally, they will compile the legal documents concerning this case too.
  • Last stage. Here they decide on whether to go to the scammers ourselves or perhaps involve third parties. The team members and partners around the world include intelligence analysts and people with special expertise and knowledge in providing solutions to fraud within the ethical framework. The Claimers has even partnered up with some amazing payment providers such as Paypal and transfers that can help them recover your amount to a great extent!

Key Takeaways! 

 

Many people have compared the frenzied rush into cryptocurrencies to the Wild West. Scammers will definitely continue to target the crypto ecosystem as it grows in size and complexity. As previously stated, there are two most common types of crypto scams: socially engineered initiatives focused on gaining account or security data and having a target send crypto to a compromised digital wallet. You’ll be able to recognize a crypto-related fraud early and avoid it from happening to you if you understand the usual ways scammers try to steal your identity (and eventually your money) by understanding the common ways scammers attempt to 

take your information (and finally your money). Nevertheless, The Claimers is here to save and recover your stolen funds. 

 

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