Members or investors of Plus Gold Union Coin (PGUC) an online Pyramid Scheme are trying to find support and clarification over what to do regarding their lost investment. We were sold fixed term contract / PGUC package through their web site www.goldunioncoins.net during April 2017 to January 2018 from an Australian based Multi-level marketing group. A package usually costed $7,400 for a daily mining of 0.8% to 1%.

The marketing group/upliners of PGUC introduced PGUC in the Australian market from overseas and gained buyers by promoting through conducting multiple seminars at home of friends and their families using personal contacts. They misinformed us when they sold PGUC in a mass scale, showing its association with European group of Precious metals. This gave a perception that it will have intrinsic value for people to invest. Australian victims of PGUC have notified the AFP and submitted reports to ASIC, ACCC and the ATO with little or no response in respect to acknowledging criminal activity or how to proceed in recovering losses. PGUC had over 300 members.

This scam is national and it’s total estimated losses from Australian victims would be in millions. Houses were re-mortgaged, money from credit card advised to invest and life savings lost. These victims need the support of Government Departments in issuing a stop order and warning the public of its existence.

We feel powerless, confused and fear of repercussions if we press hard in seeking refund from the promoters and therefore appeal to ACCC to help address our plight as victims. We approach the promoters in Australia and their principals who we handed our hard-earned savings in good faith without thinking twice when we were approached through family and friends as soft targets and promised good returns through sales pitch.

We strongly suggest the ASIC, ACCC, Australian Federal Police and Australian Taxation Office to recommend proceedings into investigating PGUC, it’s promoters, marketers and affiliates guilty of, most if not all of the “Unfair Practices” that are written into the Competition and Consumer Act 2010 and specifically ask for a public Warning under Competition and Consumer Act, 2010, Part IVB, Industry Codes, Division 3, Public Warning Notices 51ADA. We urge several other codes of conduct have been violated that are clearly outlined in the laws of Fair Trading, ASIC and ACCC.