Recyclix Suspended – What happened with Recyclix?

If you’ve been paying attention lately, you’ll notice that Recyclix has been getting a lot of attention.

But unfortunately, it hasn’t been getting very positive attention.

Why? Recyclix has been suspended.

 

My goal is to gather all the facts in one place for you so you can do your research – and it’s all here in my Recyclix Review.

Is Recyclix a legit business, or is it a complete scam?

Will you be able to build a business with it? What does “suspended” mean, exactly?

I tell you all about it in my Review of Recyclix

Read below to find out more.

 Name: Email: We respect your email privacyEmail Marketing by AWeber 

What Is Recyclix?

The multi-level marketing world is no stranger to seeing a healthy amount of schemes and scams pop up that try to rob hard-working folks of their money. It’s an unfortunate truth to say the least, but it’s the reality that we live with in this area of business.

One of the most recent and notable companies that’s launched as a scheme in the MLM world is that of Recyclix. Recyclix launched back towards the end of 2015 under the mask that affiliates for their company would be able to earn a return on their investment of more than 100%. The company took investments of up to 100 EUR at once, but as with any company that offers an ROI that sounds too good to be true, the claims Recyclix has been making have turned out to be nothing but marketing fairy dust.

It’s fun to read and pretend, but in reality, it holds no substance at all.

The company has no legitimate offering to give to their members, and instead simply seeks to get as much money from as many people as they possibly can.

When Recyclix first launched, the countries of Russia and Ukraine served as their primary sources of traffic. These two countries made up – and still do make up – a very large percentage of the overall traffic that the Recyclix website was receiving, but since that time, a new country has fallen to be a rather large victim of the activities that Recyclix is providing.

Italy currently makes up for about 9.1% of all the traffic that the Recyclix website receives, and is now second only to Germany who accounts for 9.6% of the traffic that goes to the website.

As you might expect, this surge in traffic towards the Recyclix website has gotten the attention of Italy’s government officials – more specifically, the country’s Italian regulator Commissione Nazionale per le Societa e la Borsa. This organization is more commonly known as CONSOB, and on September 14th of this year, they decided to release the official findings of theirs from an investigation they held for Recyclix.

CONSOB is sometimes also referred to as the Italian Securities and Exchange Commission, and is “the government authority of Italy responsible for regulating the Italian securities market.”

In any case, CONSOB discovered that Recyclix seeks out to gather funds from their affiliates and then asks them to click on a button on their website that is titled as “recycle.” Once this takes place, affiliates supposedly are then magically eligible to earn a monthly ROI between 8% and 14%.

However, if an affiliate decides to invest even more money into Recyclix – which the company strongly encourages – the affiliate is able to boost their ROI up to as much as 50%. Being able to earn a 50% ROI over just one month sounds way too good to be true, and that’s because it is. No legitimate company is able to offer ROIs on this level, so it’s obvious as to why CONSOB would want to look into a company that was offering this and taking so much money from the citizens of their country.

Throughout this investigation that CONSOB held, they then proceeded to contact a company by the name of Amodio. Amodio is the law firm that Recyclix uses, and when asked about the fraudulent activity taking place within Recyclix, Amodio responded to CONSOB by saying, “The activity carried out by that company through the recyclix site is not related to the activity of raisin capital from a public pool of investors.”

Is that so?

Recyclix does use their website to get investments from affiliates, and these affiliates are general members of the public. So, with that being the case, why would Amodio release a response like that that’s so obviously false?

We aren’t entirely sure, but it doesn’t do much at all to help the case of Recyclix at all.

Throughout their investigation, CONSOB also discovered that the ROIs being offered are passive – meaning that they don’t fluctuate at all no matter what happens within the company. Additionally, CONSOB also reported that Recyclix affiliates are told that they can “buy equipment used in the recycling process.” However, this information is completely misleading as this actually isn’t taking place at all.

In other words, Recyclix is blatantly lying to their affiliates.

CONSOB asked Recyclix to hand over all the information they had on the investors in their company that originated out of Italy, but as one would probably expect, they’ve yet to turn this info over to CONSOB.

According to Citing Legislative Decree no. n. 58/1998, Recyclix is in direct violation if this rule as they have failed to register with CONSOB for their activities. As a result of this violation, CONSOB has banned Recyclix from operating at all in Italy for 90 days.

Recyclix has yet to respond to this action that CONSOB has taken on them, so the ball is now in the court of Recyclix. Whether or not they’ll respond is currently up in the air, because while Italy does make up for a large account of their investors, Russia and Ukraine are still the primary targets for the company.

If Recyclix ever responds to the CONSOB, we’ll keep you posted. However, don’t hold your breath for that update.

Recyclix Scam

Any Truth To The Recyclix Rumours?

Any time a new business opportunity launches, you will always hear rumours about them being scams – so is Recyclix a scam?

From reading above, you might already be thinking Recyclix is a scam.

So, is it?

Is there a Recyclix scam, or is it legit?

To be honest, Recyclix is currently suspended. That’s a big red flag.

See my tips below for helping to make money.

 Name: Email: We respect your email privacyEmail Marketing by AWeber 

And Now, My Recyclix Conclusion

I hope you have gained value from my Recyclix Review.

I have put all the details you need to know here, because all other reviews of Recyclix have been fairly limited with details.

If you do decide to proceed with Recyclix or any business, you’ll find my free training helpful – I will show you how to make money online.

 Name: Email: We respect your email privacyEmail Marketing by AWeber 

Speak Your Mind

*