Sanderly Rodrigues de Vasconcelos, a former TelexFree investor facing SEC charges for allegedly misappropriating $3 million, is now promoting Inovatyon, a venture operating from São Paulo, Brazil. The company’s website offers no information about its ownership or management.
The Inovatyon website domain was registered privately on September 8, 2014. The company describes itself as an "investment consortium" that requires affiliates to purchase one of four packages and then recruit others to do the same. No actual products or services are listed; the compensation plan suggests banking and investment services will be offered.
Inovatyon affiliates earn recruitment commissions based on the package value of the person they recruit. The packages range from Basic at R$1250 (approximately $500 USD) to VIP at R$15,000 (approximately $6008 USD). Direct recruitment yields commissions from $22 for a Basic recruit to $270 for a VIP recruit. A monthly residual commission of $1.50 per personally recruited affiliate is also paid.
The compensation structure employs a binary system. Affiliates are placed at the top of two teams, left and right, and fill positions by recruiting new members who purchase packages. These packages are assigned point values, and affiliates earn 30% of the points generated by their weaker binary team daily. Daily earning limits are imposed, varying from $10,014 for Basic members to $50,070 for VIP members.
A revenue-sharing component allocates 15% of monthly affiliate funds into three 5% pools. Qualification for these pools depends on the number of binary points generated in a month, ranging from 17,000 to over 470,000 points. It remains unclear whether one or both sides of the binary count towards this point total.
Inovatyon operates as a recruitment-driven pyramid scheme, as affiliates are compensated solely for recruiting new members. The company's revenue relies entirely on new affiliates joining and purchasing packages. Spending more on an affiliate membership increases the potential binary commission earnings, and the revenue-sharing element acts as a further incentive for recruitment.
Sanderly Rodrigues de Vasconcelos is actively promoting Inovatyon on Facebook, following his involvement with iFreeX. Claims made by Rodrigues that Inovatyon is "guaranteed" by Porto Seguro and "approved" by the Central Bank of Brazil could not be independently verified. It is anticipated that both Porto Seguro, identified as Brazil's third-largest insurance company, and the Central Bank will issue statements denying any association with the scheme. Rodrigues is reportedly in Brazil, where he is being sued by the SEC. The anonymous ownership of Inovatyon mirrors that of iFreeX, which faced a "pyramid scheme" warning from Massachusetts Secretary of State William F. Galvin.