Lance Green Brazil -The Truth of this Ponzi Scheme Revealed (Update 2024)
Lance Green Brazil is a Multi-Level Marketing (MLM) company that claims to deal with Bitcoin and earns external funding through Betfair. This British gambling company operates the world’s largest online betting exchange.
Lance Certo Group is the company’s origins, established in Brazil in or around February 2020. Lance Certo Group, in addition to owning and operating “O Lance”, a bar in Sao Paulo, also operates Lance Certo as a stand-alone revenue opportunity.
Lance Certo collapsed after going nowhere. Its website remained practically inactive in terms of visitors till February 2023. In April 2021, Lance Certo Group launched the cryptocurrency LanceCoin (LCE). After a few months, LCE was eventually pumped and dumped in late 2021.
The website’s owner has hidden his real identity. On the website, there is no information about the CEO or who runs Lance Green Brazil. This type of dubious activity directly raises concerns about the company’s legitimacy. It’s hard to say whether or not this company is legitimate.
LCE has remained essentially inactive since then, with a -82% drop from its brief $19.16 peak in 2021. Lance Certo Group was completely dead until the launch of Lance Green Brazil in early 2023.
Here are the known Lance Certo Group-connected website domains for reference:
- Lance Certo Group – lancecertogroup.com, registered privately in February 2021
- Lance Certo – lancecerto.com, private registration initially registered in 2019, last updated September 2021
- Lance Coin – lcecoin.com, registered privately in February 2021
- Lance Certo Bet – lancecerto.bet, registered privately in September 2021
- Lance Green – lancegreen.space, registered on December 19th, 2022 to “Yijung Cho” via a Korean address.
Heading Lance Certo Group and its associated companies is CEO Anderson Salgado (aka Anderson Salgado Salgadinho).
Salgado is described as having “more than 7 years experience as a sports trader” in Lance Green Brazil’s marketing materials.
We were unable to confirm this but We were able to confirm that Salgado was the CEO of SpeedCash in late 2018.
SpeedCash was an MLM cryptocurrency Ponzi scheme that promised a 300% ROI and paid out up to 3.5% every day.
How exactly does a Ponzi scheme operate?
An investment fraud known as a Ponzi scheme draws investors with claims of great returns and no risk but fails to invest the money as stated. Instead, it pays off earlier investors with money from future investors while maybe keeping a portion of the profits. These schemes typically fail when recruiting investors becomes challenging or when multiple investors attempt to cash out. They depend on a steady flow of new buyers to operate. They are called after Charles Ponzi, who ran a similar scam using postal stamps in the 1920s.
The Ponzi scheme used by SpeedCash was cryptocurrency, oil, and grain trading. Presented as a Dubai-based company aiming towards Brazil. SpeedCash went bankrupt sometime in 2019.
When we added everything up, we got the following:
- Anderson Salgado defrauded a large number of individuals in 2019 with his SpeedCash Ponzi scheme;
- Salgado launched Lance Certo Group in early 2020 as a reboot of Ponzi;
- Salgado used some of the money he stole through SpeedCash to launch O Lance bar in or around November 2020;
- Lance Green Brazil’s marketing implies Salgado also fed SpeedCash funds into Lance Certo branded petrol stations in Brazil;
- Lance Certo Group’s original Ponzi running its course and being rebooted again as Lance Green in early 2023.
More About Lance Green Brazil
Lance Green claims to have deals in petrol stations and restaurants throughout Brazil. Their direct contributions are used to fund the project. The company also guarantees that if you operate it yourself, you will be able to safely recover your investment.
According to Lance Green, it generates external money through Betfair. Betfair is defined as “a British gambling company that runs the world’s largest online betting exchange.”
It’s quite improbable that BetFair has a formal commercial relationship with Lance Green or Anderson Salgado other than a personal/company account.
However, there is no proof that Lance Green is generating outside revenue through Betfair. Lance Green’s marketing promises fall in violation of the Ponzi logic test as well.
Lance Green’s MLM opportunity is a security offering since it provides investors with passive earnings.
Lance Green fails to show evidence that it or Salgado has registered with Brazil’s SEC or any other financial regulator outside of Brazil.
This suggests that Lance Green is committing securities fraud at the very least. Securities fraud and Ponzi schemes often combine.
There are two significant extra due diligence considerations to keep in mind:
- Brazil does not extradite its nationals, and
- Salgado may already have a Dubai exit scam plan in place.
Lance Green Brazil’ Products
Lance Green has no retailable products or services. Affiliates are only able to market Lance Green’s affiliate membership itself.
Lance Green Brazil’s Compensation Plan
Lance Green solicits $25 to $50,000 investments. This is done on the promise of a daily 1% ROI, paid 6 days a week, and capped at 200%. The MLM side of Lance Green pays for the recruitment of affiliate investors.
Lance Green Brazil’s Referral & Residual Commissions
Lance Green Brazil affiliates earn 10% of funds invested by personally recruited affiliates.
Lance Green pays residual commissions via a binary compensation structure. A binary compensation structure places an affiliate at the top of a binary team, split into two sides (left and right).
- The binary team’s first level has two positions. The binary team’s second level is generated by dividing the initial two slots into two positions each (4 positions).
- As needed, subsequent levels of the binary team are constructed, with each successive level containing twice as many positions as the previous level.
- Positions on the binary team are filled through direct and indirect affiliate recruitment. It should be noted that there is no limit to how deep a binary team can grow.
- Lance Green totals fresh investment volume across both sides of the binary team after each day.
Affiliates are paid 8% of investment volume on their weaker binary team side. Once paid out, volume is matched against the stronger binary team side and flushed.
How to Join
Lance Green affiliate membership is free. Full participation in the attached income opportunity requires an initial $25 to $50,000 investment.
Conclusion
Lance Green Brazil is a Multi-Level Marketing (MLM) company that claims to deal with bitcoin and earns external funds through Betfair, a British gambling company that operates the world’s largest online betting exchange.
However, there is no evidence that Lance Green is making money outside of Betfair, and the company has no retailable products or services.
There are various doubts concerning the company’s legitimacy. For a start, the CEO’s identity is hidden, raising concerns about the company’s credibility.
Furthermore, Anderson Salgado, the CEO of Lance Certo Group, scammed a big number of people in 2019 with his SpeedCash Ponzi scheme.
Lance Green is most certainly committed securities fraud because it has failed to provide evidence that it or Salgado has registered with Brazil’s SEC or any other financial regulators outside of Brazil.
To summarise, there are numerous red flags regarding Lance Green Brazil’s legitimacy, and investors should do thorough due diligence before investing in the company.
