On its website, Cancri Jewelry doesn’t say anything about who owns or runs the business.
The name of Cancri Jewelry’s website, “cancrijewelry.diamonds,” was registered privately on December 23, 2021.
Cancri Jewelry was first run from the domain name “cancri.jewelry,” which was registered privately on December 22, 2021. No one knows why the company changed the name of its website.
Cancri Jewelry says on its website that it is “Europe and Asia’s largest jewelry store.” There are no sales numbers given to back up this claim.
Cancri Jewelry’s website lists a business address in Turkey so that it looks like a real company.
The address seems to match a building with the Cancri Jewelry name on it:
At least as of April 2022, Google Maps shows that the building is there as shown:
The building is also shown in marketing videos for Cancri Jewelry:
Cancri Jewelry has a branded building in Turkey, but it doesn’t seem to have any other ties to the country.
All of the marketing videos for Cancri Jewelry are in Russian and have actors who speak Russian.
Cancri says that it has something called a “call center” in Ukraine. A phone number is given, but no other information is given.
The Central Bank of Russia warned about a financial pyramid called Cancri Jewelry on November 17, 2021.
The CBR lists the following domains that are linked to Cancri Jewelry:
cancri-jewelry.net (abandoned) (abandoned)
cancrijewelry.net (dead website with a Turkish version of the homepage) cancri-jewelry.com (abandoned, Bulgarian hosting)
cancri-jewelry.site (the Russian version of the homepage, which is now a dead website) and cancrijewelry.diamonds (primary website, active)
The website for Cancri Jewelry has both Russian and Ukrainian web services:
All of this leads us to believe that Cancri Jewelry is run by Russians and/or Ukrainians who say they are based in Turkey.
If an MLM company isn’t clear about who owns or runs it, you should always think twice before joining or giving them any money.
The products of Cancri Jewelry
Cancri Jewelry has no products or services that can be sold.
Affiliates can only market the affiliate membership to Cancri Jewelry.
Plan for paying Cancri Jewelry
Affiliates of Cancri Jewelry put money in with the promise of advertising returns:
If you put in €100, you’ll get back €3.5% every week for 364 weeks, or 182%.
Invest €900 and get 5% back each week for 364 weeks (260%)
Invest €2700 EUR and get 5.5% a week for 364 days.
Invest €8100 and get 6% back each week for 364 weeks (312%).
The €2700 EUR tier on Cancri Jewelry’s website seems to be mislabeled (it has the same ROI as the €300 EUR tier), so I put a question mark next to it.
Cancri Jewelry’s MLM side makes money by getting affiliate investors to join.
Ranks of Cancri Jewelry Affiliate
The compensation plan for Cancri Jewelry has sixteen affiliate ranks.
Here are their names and the qualifications they need to meet:
Beginner – generate €100 EUR in downline investment
Manager – generate €300 EUR in downline investment
Senior Manager – generate €1000 EUR in downline investment
Golden Manager – generate €3000 EUR in downline investment
Diamond Manager: Get €10,000 in investments from your downline.
Mentor – generate €20,000 EUR in downline investment
Senior Mentor: Get €50,000 in investments from your team.
Golden Mentor – generate €100,000 EUR in downline investment
Diamond Mentor: Get €250,000 worth of investments from your downline.
Master – generate €500,000 in downline investment
Senior Master: Get €1,000,000 in investments from your downline
Golden Master – generate €2,000,000 in downline investment
Diamond Master – generate €3,000,000 in downline investment
Managing Director: Get €10,000,000 in investments from your downline.
Golden Managing Director: Get €25,000,000 in investments from your downline.
Diamond Managing Director: Get €50,000,000 in investments from your downline.
Note that a Cancri Jewelry affiliate’s own investments are counted as downline investments.
Commissions for referrals
Cancri Jewelry uses a one-level compensation structure to pay referral commissions.
With a unilevel compensation structure, an affiliate is at the top of a unilevel team, and every other affiliate they personally recruit is right under them (level 1):
If an affiliate on level 1 brings in new affiliates, those new affiliates join the original affiliate’s unilevel team on level 2.
If any level 2 affiliates bring in new affiliates, they move to level 3, and so on until there are no more levels to go down.
For every Cancri investment, a 20% referral fee is paid. This is a coded commission, and it will be paid if the following conditions are met:
Beginners get 5% of the money made from referrals.
Managers get a 6% commission for bringing in new clients.
Senior Managers get 7% of the money made from referrals.
A 8% referral fee is paid to Golden Managers.
Diamond Managers get 9% of the money made by people they refer.
Mentors get a 10% commission on people they bring in.
The commission rate for Golden Mentors is 12%.
Diamond Mentors get 13% of the money made by people they refer.
Masters get 14% of the money made from referrals.
Senior Masters get 15% of what their referrals bring in.
16% of the money made from referrals goes to Golden Masters.
Diamond Masters gets 17% of the money people send them.
Managing Directors get 18% of the money made from referrals.
19% of the money made from referrals goes to Golden Managing Directors.
Diamond Managing Directors get a 20% commission for bringing in new business.
When affiliates below Diamond Managing Director get a referral commission, the coded nature comes into play.
All investments in Cancri Jewelry pay a return of 20%.
Let’s say that a Mentor gets an investor on board. They get their 10% commission rate for referrals. This means that 10% of the 20% commission rate for referrals still needs to be paid out.
The system looks upline for the first Golden Mentor or higher that has a balance that needs to be paid out.
Let’s say the first thing found is a Diamond Master. They get 7%, which is 17% minus the 10% that has already been paid out. This means that 3% still needs to be paid.
The system then looks even higher up.
If a Managing Director is found first, they get 1% (18% – 17%), leaving 2% for the next person in the chain.
If a Golden Managing Director is found first, they get 2% of the profit (19% minus 17%). The first Diamond Managing Director upline gets the other 1%.
If a Diamond Managing Director is found first, they get the full 3% remaining balance.
Note that when a Diamond Managing Director gets a referral commission, it is either the full 20% on their own recruits or whatever is left on a referral commission passed upline.
So, higher-ranked Cancri Jewelry affiliates can earn referral commissions passed up from anywhere in their unilevel team.
Getting jewelry from Cancri
It looks like it’s free to become an affiliate of Cancri Jewelry.
To fully take part in the attached income opportunity, you must invest at least €100.
Cancri Jewelry: The End
Cancri Jewelry uses the idea that investors are buying jewelry as a way to get people to buy into the company. Something about ROI, and after 364 days, they can go to Cancri Jewelry’s storefront to pick up the jewelry they ordered.
Or, and this is much more likely, affiliate investors will just keep their return on investment and not worry about the jewelry.
Whether or not it is possible to collect jewelry has nothing to do with the fact that Cancri Jewelry is a Ponzi scheme.
As far as due diligence goes, the fact that Cancri Jewelry seems to have a storefront in Turkey is interesting. However, it doesn’t change the fact that it is a Ponzi scheme.
Cancri Jewelry is definitely a bit more high-volume than the typical Russian crypto Boris CEO Ponzi scheme. But behind the flashy marketing videos, staged events, and actor videos is the same scam business model.
You put money into Cancri Jewelry, and the company uses that money to pay other investors. You hope that Cancri Jewelry keeps getting new investors so that you can steal their money.
This doesn’t seem to be the case, though, for anyone who invested recently:
Early investors in Cancri Jewelry were probably Russians and Ukrainians, but most investors today are from France, Germany, and Hungary.
Cancri Jewelry tried to break into the US market earlier this year:
That didn’t work out. And so, in April, there was a push into Europe:
I think this is why France, Germany, and Hungary have recently stopped hiring people.
As you can see from the data above from SimilarWeb, Cancri Jewelry’s overall recruitment is down almost 50% from one month to the next over the past two months.
Cancri Jewelry has been talking up a possible expansion into Georgia, which seems to be a way to find more people to scam.
We’ll have to wait and see if that catches on.
As with all MLM Ponzi schemes, new money will stop coming in once affiliate recruitment stops.
This will stop Cancri Jewelry from making money, which will eventually cause it to fail.
The math behind Ponzi schemes makes it clear that most people will lose money when they fail.