In the words of Ecosov’s founder - “Before Q, ‘cash gifting’ had no identity.”
As far as we know, Q still remains unidentified, but EcoSov is an abridged name for “Economic Sovereignty,” and a 15-minute slideshow of DisneyWorld, Bentleys, diamond rings, and luxury ocean-view hotels from an “approved mini-site” features a voiceover from someone claiming to be “Q.”
“Q” never mentions during the video anything about how he actually got the money to finance the lifestyle he is promoting. The approved mini-site, by the way, comes at a cost of $950 for six months’ use.
A PDF file at extremelyfastcash.com describes Ecosov.800 as “hands down the largest richest and most organized cash gifting machine on the planet!”
EcoSov is a one-up system employing “cash tubes” instead of receiving lines, with all funds coming to you “from new members or existing members within.” Once again we have a cash gifting scheme which entices new members with dreams of “a movie star’s life”, and the folks at EcoSov aren’t kidding around.
If you want to share their scheme you’ll have to fork over $6000, (Green Membership) or $18,500, (Black Membership) depending on which “Level of Envy” you want to join. “Other fees” may be applicable if you want to take advantage of Ecosov’s full range of marketing and recruiting tools.
Then there’s the monitoring fee. Every fifth $6,000 or $12,500 “gift,” both of which you’ll be getting if you’re a Black member, goes to “Rabbanisi Dynamics Group IBC,” an “off-shore international business entity,” which oversees the entire operation from the island of St. Lucia.
If that doesn’t bother you, this should. There is not even a pretense that this is a “cash gifting program” for the purposes of meeting IRS regulations, because the cash tube of $12,500 exceeds the current IRS limit of $12,000, which is all you can receive from a single individual in one year.
That’s why Rabbanisi Dynamics warns that you’ll be liable for any taxes (but also lets you know that they do not report to any tax agencies. They don’t even want your Social Security number.)
If you want to know how “Q’s” IBC works as a tax hideaway for his Ecosov income, read about IBCs at fraudguides.com. Of note is the information about the IRS’ crackdown on people who use IBCs to avoid paying taxes.
Here’s the contact information for Rabbanisi:
Rabbanisi Dynamics Group
Point of Contact: Amir Sadiq
46 Micoud Street Castries, St. Lucia
Phone: (800)393-6745 Phone 2: (800)393-6745
The Web is littered with complains about ‘Q’ and EcoSov. Here are two:
Thu, Sep 18, 2008
Fraud Alerts