SEC finally Issues Advisory Against Plan Promatrix Online

Last February 2018, SEC issued an advisory against Plan Promatrix Online Co. You might have seen Facebook users posting pictures of themselves with lots of money. Some even pose using money to fan themselves. SEC now confirms that Plan Promatrix Online Co. (aka PPM) is registered as a partnership but the company is NOT registered to sell or convince people to invest.

SEC details the "pyramid” like investment scheme with the matrix or table required to “exit” and gain money. Seriously though, this has been repeating for a very long time. For scams like this to work, they introduce a matrix where you need to recruit someone to be able to get a large bonus. But I rarely try to explain this stuff to people I know. Trying to explain to someone that something is a scam is useless. They’re gripped by FOMO (fear of missing out). They’re afraid that if they drop out, they’ll miss out on the potential earnings.

Here’s the full statement of SEC (or you can view the PDF from the official SEC website here)

However I have to admit, some people did earn from Plan Promatrix. They earned because they were the first to sign up and they recruited people into the system. But isn’t that the point of a pyramid scam? The whole thing the becomes a Russian roulette. It’s just a matter of time when someone finally sues his/her upline. The question is, are you going to wait if it’s you? So be careful about trusting money making schemes like Plan Promatrix. It’s true, you do earn money from it but you risk your name and honor if things go sour.