BEWARE: EmGoldex just changed name to Global InterGold

EmGoldex changed its name to Global InterGold. According to famous scam buster Ethan Vanderbuilt, they've rebranded "to avoid the bad press."

Here's what happened before they did it:
  • August 2014 – Massachusetts Securities Division started to investigate EmGoldex;
  • Ocober 2014 – Civil fraud charges were filed against top US EmGoldex investors; Massachusetts Secretary of State William Galvin filed civil fraud charges against EmGoldex Team USA Inc. on October 22 last year;
  • February 2015 – The Securities and Exchange Commission (SEC) in the Philippines issued an advisory for netizens, particulary overseas Filipino workers (OFWs), to exercise self-restraint from investing on Emgoldex;
  • April 2015 – The Central Bank of Malaysia placed EmGoldex on investment blacklist;
  • June 2015 – The Dubai Multi Commodities Centre (DMCC) warned that EmGoldex is not registered to trade gold in United Arab Emirates; DMCC said the license permit used by EmGoldex was forged and therefore fake.

In its rebuttal to issues hurdled against them, EmGoldex usually claimed that their main office is located in Germany. However, Handelsregister, a public registery of local courts in Germany, revealed that EmGoldex is not registered there.

So far, the countries which warned their citizens against investing on EmGoldex include The Netherlands, Sweden, Panama, Philippines, Dubai, Colombia, USA, Norway, Finland, and Poland.

On its website, EmGoldex claimed that it "specializes in the buying and selling of investment gold bars of different value. Our investment gold is procured and provided only by the top producers internationally."

Now, Global InterGold or Global iGold, the "international investment gold bar online shop," claims that it is "a regulated EU [European Union] Company featuring the Global InterGold Online shop for the buying and selling of gold bars from Swiss regulated suppliers."

They have what is called the GoldSet marketing incentives program (or GoldSet program) which offers buyers three options for investment gold bars sets such as GoldSet Standard, GoldSet MultiCards, and GoldSet Goldline, but their recruiters market the same EmGoldex business model.

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Sources: The Philippine Pride, Ethan Vanderbuilt, Behind MLM