Unmasking the pyramid kings. Crowd 1, page-259

"Crowd1 is peddling a range of bogus products and false promises to cover an old-fashioned pyramid scheme based on recruitment," BBC said. The owners of Crowd1 and Miggster have been running these scams for years. Moreover, Crowd1 has been flagged by regulators in at least eight different countries across four continents for operating unlicensed investment schemes. The question, then, is: has Emerge “banked” this $8.3 million from an unlicensed investment scheme, not from selling online gaming subscriptions? Emerge said today that of the 100,000 Miggster subscribers, only 26 per cent have actually played a game since they subscribed. This means the vast majority of people are subscribing to Miggster for a reason other than gaming.We have contacted Emerge to clarify what portion of this $8.3 million was actually for get-rich-quick scheme investments and what was for online gaming. Despite repeated requests, they failed to answer." - TMH