Why You Should Never Invest in “Gem4me” (SCAM ALERT)

Red flags:

1. “GEM4ME INVESTMENTS PLC” – a public offshore company in Malta
– structure https://offshoreleaks.icij.org/nodes/55077576
– Cannot find it’s ticker, doesn’t show up on any market watch aggregator
– Is most likely not trade-able outside of Malta
– Gives out fake “shares” to investors that don’t represent any real shares
– Cannot ever be listed as a public company until they get US company HQ and a lot of other requirements are met (current marketing is most likely making better returns to CEO than actually listing the company, most likely after IPO it would slowly plummet down to 0, since the company is not relevant in today’s market conditions

2. Marketplace is only used in Russia, and is broken (at least on iOS)
– I tested the app, couldn’t enter any delivery address
– Half of the marketplace is in Russian, untranslatable
– Competition for this “project” is Extremely high, the app doesn’t have anything extra to it that would incentivise people to use it (at least not in CZ)

3. Russian/Belarussian origin
– https://cz.linkedin.com/company/gem4me-market-space (HQ: Moscow, all posts in Russian)
– https://www.instagram.com/gem4me_official/ (main presence is Russian)
– Given the current war in Ukraine, it’s very unsafe to invest in anything Russian-owned (most of the employees, CEO, CFO are Russian or living in Russia).

4. Paid articles to boost downloads
– https://pr.denik.cz/doporucujeme/program-gem4me-messenger-skupina-spolecnosti-gem4me-marketspace-zahajila-funkci-20200805.html

5. Signs of MultiLevelMarketing (MLM), ponzi/pyramid scheme
– http://www.prost-v.com/en/gem4me/for-investor.html (“earn for promoting”)

6. Weird company structure
– https://gem4meinvestments.eu/assets/img/slides/slide2_en.png
– https://gem4me.com/about?lang=en states “The project is created by the Gem4me Group of Companies which consists of about 10 companies registered in the Eropean Union and Switzerland”, showing dots on the map in Switzerland, Malta, Bulgaria, Belarus, Latvia, Russia and Thailand – no information about companies outside of Malta is known

7. Multiple online articles advising to stay away from it because of scams back from 2017, 2018
– https://scamouting.home.blog/2018/11/30/gem4me-an-intricate-financial-scam/
– https://bitcointalk.org/index.php?topic=5078275.0
– http://intechcoin.com/hoax-and-deception-by-gem4me-or-an-innovative-breakthrough-of-ico-technologies/

8. Lying about almost anything
– The management of GEM4ME was unable to implement their promise to sell the messenger in 2015, 2016, and 2017 (https://pdfslide.net/technology/gem4me-best-app-2017.html
– https://nikvern19.gem4me.team/ states 656 MIL USD “independent evaluation”, done by a fake calculation of downloads = active users, thus severly inflating the evaluation

9. Initial Coin Offering scam
– In 2018, Gem4me ran an ICO of “GemCoin” (coincidentally the same name as a different scam from US) – https://twitter.com/GemMarketSpace
– They raised around 3 MIL USD, since then, the website that it was supposed to run on is switched off (ico.marketspace.io / marketspace.io)
– https://cryptocoin.news/icos/ico-review-gem4me-a-worldwide-smart-marketplace-to-trade-without-borders-13374/
– Threads:https://bitcointalk.org/index.php?topic=4434601.0 https://bitcointalk.org/index.php?topic=3744313.540
– GemCoin cannot be found on any exchange, token has most likely rugpulled back in 2018
– On https://marketspace.world/#token we see “Marketspace Token” which is not listed anywhere, cannot be found under it’s supposed abbreviation ticker “MST”, therefore mostly it’s only an “in-app currency”, not stored on blockchain or traded on any exchange
– Whitepaper is nowhere to be found

10. Fake reviews + a lot of bad reviews
– https://play.google.com/store/apps/details?id=com.gemtechnologies.gem4me&hl=en&gl=US&showAllReviews=true
– https://apps.apple.com/us/app/gem4me-messenger/id1032387040?see-all=reviews

11. Market competition
– Telegram, Whatsapp, Instagram, Viber, FB Messenger, Skype – all of these are 10000% more convenient to use for any user, therefore the competition would have to be a lot lower in order for this company to succeed without faking numbers, using extreme marketing tactics to ensure downloads are made (or paid), using deceptive graphics in their MLM-like promotion materials (which are most likely sent to the investors to promote it even more – not the investor’s job).

Overall, I would never invest in this company or it’s owners and I recommend you to also not invest.

James M. Marrero

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