Jubilee Ace operates in the cryptocurrency MLM niche and claims to have been “founded in British Virgin Islands in 2018&rdquo ;. Jubilee Ace represents someone named Tony Jackson is its CEO. Jackson doesn't seem to truly have a digital footprint beyond Jubilee Ace's website.
On June 9th Jubilee Ace uploaded a film to its YouTube channel titled “ Jubilee Ace Global Launch 29th May 2019&rdquo ;.
Jackson appears in the video so regardless of the stock like photo put on Jubilee Ace's website, does be seemingly a real person. Jubilee Ace's launch event was held in Macau and primarily features what is apparently affiliates of Asian origin. Jubilee Ace's marketing has a distinctive concentrate on Thailand and Japan.It is highly likely that whoever is obviously running Jubilee Ace is based out of Asia itself.
As always, if an MLM company isn't openly upfront about who's running or owns it, think long and hard about joining and/or handing over any money.
Traders Opinion
The first step to protecting yourself from fraudulent parties online is to do thorough due diligence on the firms and entities that you will be going to send the funds to. In many probability, there has been other users who have already used the exact same service, and have expressed their opinions and feedback online on various forums.
After conducting some research on various social media marketing platforms (Facebook, Twitter, Instagram), along with online trading forums, a general theme emerged where users were dissatisfied making use of their experience with Jubilee Ace and Jenco. Based with this particular user feedback, it appears that Jubilee Ace and Jenco is not only a trustworthy broker, and hence, extreme care should be applied before investing through their brokerage platform.
You will find always lots of brokers available operating under fake company names or that have other fraudulent operations. A little preliminary research can go a long way in protecting you and your finances.
Conclusion
Jubilee Ace markets itself as “the continuing future of investment&rdquo ;.In fact it's merely a typical MLM Ponzi points scheme. Jubilee credits are worthless beyond Jubilee Ace's MLM opportunity. They're not publicly tradeable and it's not necessarily clear whether they're a token or just credits tracked on a database. The purpose is, Jubilee Ace are flogging Jubilee credits making use of their affiliates for $1 each. There's no mention of an interior exchange in Jubilee Ace's compensation plan or on their website. There's to be some method for affiliates to cash out credits though, so either it's an interior exchange or just through the rear office. Jubilee Ace claims to generate external revenue through Aqua, a purported cryptocurrency, sports and gaming arbitrage bot. Beyond their marketing pitch however Jubilee Ace fails to offer proof arbitrage revenue actually used to cover affiliates. Furthermore despite clearly offering a passive investment opportunity, Jubilee Ace isn't registered to provide securities in pretty much any jurisdiction it operates in.
The company offers up a BVI incorporation certificate for “ Jubilee Ace Limited”, financial firms not an alternative for regulation with financial regulators. On this note I also want to point that there is zero legitimate basis for an MLM company to incorporate itself in the BVI.
The British Virgin Islands certainly certainly are a scam-friendly jurisdiction with little to no regulation. From the regulatory due-diligence perspective, BVI incorporation is meaningless. Without external revenue source, Jubilee Ace is simply recycling newly invested funds to cover off existing investors – by means of a convoluted internal credit scheme. The usage of newly invested funds to cover existing affiliates daily returns makes Jubilee Ace a Ponzi scheme.Commissions paid on affiliate investor recruitment additionally adds a pyramid layer to the scheme. Similar to all MLM Ponzi schemes, once affiliate recruitment decelerates so too will new investment. This may starve Jubilee Ace of return revenue, eventually prompting a collapse. Being fully a Ponzi points scheme, this might see Jubilee Ace's owners and early adopters (featured in their launch video) cash out.
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