In this review of the Gems Associate scam we explain how this fraudulent scheme is stealing money from people.
What is Gems Associate
Gems Associate is a financial company that provides an investment platform. Money on the platform is allegedly invested in bullion coins and metal bills, whatever that is.
The company claims that its investments in gold are risk free.
The most important part of Gems Associate offer is the investment plans. Minimum investment amounts start at 100 USD and daily ROI goes from 4 to 5.5%.
The company claims that all invested funds are secure because it is insured by Aviva Insurance in New Zealand.
So, is Gems Associate a legitimate investment opportunity? No, it is not, because it’s a scam.
Gems Associate is a scam
Our Gems Associate review and investigation clearly showed that this platform is a total scam. It is not paying its customers and all deposited funds are lost. There even is a warning from a financial regulator.
1. FMA warning
Gems Associate claims to be based and insured in New Zealand. It is true that there is a company with a very similar name registered in New Zealand, but it has nothing to do with this investment platform.
In fact, the financial regulator in New Zealand put up a warning against Gems Associate stating that the company is not registered nor regulated in the country.
Furthermore, there is no Aviva Insurance company in New Zealand, so the claim about funds being secure and insured is obviously fake.
2. Negative and fake testimonials
The warning from the FMA is also interesting from another point of view, the regulator received reports from people who were asked by Gems Associate to pay advance fees for their withdrawals, which obviously is another sign of scam.
If you have a positive balance on your investment account, any fees should be deducted from it, you should not be asked to pay them with a new transfer. That is if the company is legit and serious.
On the other hand, scams often use this trick. They show you a fictitious balance on your trading account and say that if you want to withdraw, you have to pay in advance some fees or taxes.
But what happens when you pay is that your money gets lost and your withdrawal never happens. That’s obviously what this Gems Associate scam does too.
Another thing we have to mention in this Gems Associate review is that all the testimonials published on the official website of this company are fake. As you can see in our picture below, the photos belong to people who don’t even know about this program.
3. Look at the plans
Most of the investment scams we see online are easy to spot thanks to their absurd offers. And the Gems Associate scam is no different.
We know that people would like to get a passive income with 4 – 5.5% daily returns on investment because that would make earning money pretty easy. Unfortunately, that’s not possible.
No legit investment company in the world can generate 1%+ per day in returns because nobody can predict financial markets to a degree that would allow such profits. You have to accept this as fact, it will help you avoid many scams.
So this Gems Associate review could have been much shorter, we could have just have a look at the daily ROI and conclude that it is a scam. It really is that simple.
But because we know that people don’t tend to believe such quick conclusions, we showed you more proofs, primarily based on the warning that the financial regulator in New Zealand published about this fraudulent investment platform.
How Gems Associate works
Gems Associate is a very simple scam that does not even try to play the Ponzi game that is so typical in this sector. It just takes money from people and gives them nothing back.
This is why you should not send any money to this platform. If you already did, don’t send any additional amount, no matter the requests for fees or taxes, everything would get lost again. It’s just a black hole.
Gems Associate review – Conclusion
In this review we have proved that the Gems Associate scam is not paying its users and that it has been blacklisted by the financial regulator in New Zealand. You have to stay away from it.
Don’t send any money to this fraudulent investment platform. Avoid every investment platform with returns that high, it’s a hallmark of scams.
TOP TRADING PLATFORMS
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 76-77% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Cryptoasset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply. eToro USA LCC does not offer CFDs, only real Crypto assets available.