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Scam?Posting this in hope of getting a definite answer on whether this is a scam or not. (self.Scams)
submitted   by Rdmxt
So my brother and his friend was persuaded by one of their other friends to join in on this site called emgoldex.
I was very doubtful at first glance and watching them speaking so enthusiastic about it made me even more doubtful. After some looking around I came to the conclusion that I would not join in on this scheme.
I am pretty sure this is a scam but I am unable to provide definite proof that it is. I'm writing here in hopes of having more experienced individuals taking a look at this.
Thanks.
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[–][deleted] 6 points  
It's a pyramid scheme. Basically, an entity at the top sells gold to a few individuals. They then recruit those individuals to sell gold to individuals below them, who are told to sell gold to people below them, etc... so it branches off like that. Only the person at the top and the first phase or two of people make any money. Everybody else gets effed over big time, especially lower down the chain.
It's one of the oldest scams in the book. Stay away from it at all costs.
[–]Rdmxt[S] 3 points  
Thank you for the detailed explanation, much appreciated.
[–]autowikibot 2 points  

A pyramid scheme is an unsustainable business model that involves promising participants payment or services, primarily for enrolling other people into the scheme, rather than supplying any real investment or sale of products or services to the public.
These types of schemes have existed for at least a century, some with variations to hide their true nature.Multilevel marketing plans have also been classified as pyramid schemes.

Image i - The unsustainable exponential progression of a classic pyramid scheme
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[–]dailyflyer 2 points  
Yes it is a scam. Never buy gold from a company that claims to store their gold in Germany when they are not located in that country. Also, the website is not correctly translated into English. It is like reading an email from a Nigerian Prince that wants to leave you their money.
[–]raffaela_fazzino 2 points  
I don't know about any scams or something like that, but I know that I make my money with emgoldex and have no problems. Here are some documents
There was also information on the official website about scammers:
"These distributed fraudulent actions include the promise of fast enrichment, the investment of your own funds and rapid increase of your return. They also consist of receipting of potential customers funds in exchange for promises to create websites, similar to the style and design of the official website of the online store, but with the contradictory information. Moreover, they represent themselves or their legal entities as the employees of the company and online store, and many other unacceptable activities."
[–]Rdmxt[S] 1 point  
I find your answer interesting.
However, I am conflicted wheter to trust you being completely objective when you've only been a redditor for 10 days and most of your links and connections are to the site itself.
Thanks for your input though.
[–]bongordanezajr 2 points  
I have the same problem with my friend. He invited me, and I declined because it clearly is a pyramiding scheme. And how about the gold? Is there really gold in this business? I think there is none. I can't deal with an on-line business that promises millions just by inviting two people.
[–]Rdmxt[S] 1 point  
Hi!
This thread is quite old but I haven't followed up on the other people who were involved but my brother and it seems like he has not yet retrieved a chargeback due to it being quite shady with members all over the world. I am very certain this is a bluff and they are actively trying to milk money from users who will not see a payout.