Emgoldex Warns Public About Scam Using Their Company Name

Emgoldex gold bars

Emgoldex (Emirates Gold Exchange) is warning the public about an alleged scam that is using their company name. According to a press release posted on their official website, some unidentified people are using their official brand name for their own personal benefit.

“We would like to give you a warning that, unfortunately, there are people who try to provide their activity, or activities of their legal entities on behalf of the only official company and online store of Emgoldex.” A statement reads at Emgoldex.com, which conducts all of its activities worldwide.

“Using the brand name of the company for the promotion and distribution of the goods and services, these unfair persons mislead other customers and potential clients of the online store.” Emgoldex added, noting that these people are distorting information and giving false schemes.

Must Read: * Why Global Intergold is Now the New Emgoldex

In addition, Emgoldex said that the scammers promise potential customers to create websites that are the same as their official website. The investment company reminded the public that its clients are not their employees and that it does not promise a “get rich quick” program.

Emgoldex emphasized that people should not accept any information coming from third parties and that they should verify the information only through their official website. Anyone who has information about any suspicious activities using the company name is advised to contact Emgoldex Customer Support.

In line with this, Emgoldex said on its official website that the company “specializes in the buying and selling of investment gold bars of different value. Our investment gold is procured and provided only by the top producers internationally.”

For their program, Emgoldex said that their company is “not only selling investment gold bars, but also provides a guarantee of buyback of gold from its customers with the most profitable prices. The customers of the company can use the service of certified depositories for gold and diamonds.”

As of posting, Emgoldex has not yet officially released the identities of these alleged scammers. On the other hand, Massachusetts Secretary of State William F. Galvin started to investigate the operation of Emgoldex Team USA in August 2014. Colombia and Panama are also doing similar investigations.

Read: Top 10 Questions You Should Ask Before Joining any MLM Company

On October 22, 2014, the Massachusetts Securities Division released a pdf document, stating that it has an open investigation against Emgoldex Team USA for allegedly being “an illegal pyramid scheme disguised as a legitimate multi-level marketing company targeting investors both in Massachusetts and around the world.”

The said document named the defendants as EmGoldex Team USA, Inc., Matthew Michael D’Agati, James Vincent Piemonte, Jonathan Herman Siegler and Joseph Zingales. The four individuals were said to be co-founders of EmGoldex, but their names cannot be found at Emgoldex.com.


This Emgoldex scam warning was published at Emgoldex.com on July 14, 2014, but TN decided to report it now for the benefit of new members and those who want to join them. TN is not also in any way connected to Emgoldex nor against it. The only purpose of this post is to provide information.

Related Posts:

* DTI and NBI Now Investigating 15 MLM Companies for Possible Scam
* Top 10 Things Filipinos Should Really Change in 2015
* SEC Advisory 2015: Emgoldex Philippines Not a Registered Corporation
* Emgoldex Philippines is Illegal, Emgoldex Warns Filipinos
* Emgoldex Scam News Report by ABS-CBN Triggers Reactions from OFW Members (Video)



No Responses