Update: seems OD Capital (promoted through YMCI) is a confirmed ponzi. Thai police has arrested and issued arrest warrants against suspects tied to this organization, read this article and it is clear that you might wanna think twice before getting involved in this mess: http://www.nationmultimedia.com/detail/national/30352051
My cousin's girl friend was involved in the YMCI (formerly known as SMCI), so I have seen first hand some of their promotional material, and it is 100% Multi Level Marketing/ pyramid scheme, who are perpetually launching one HYIP (ponzis) after another it seems. They are very sophisticated in making them look like a super legit company. Primarily operating in Asia, where the general population is less financially educated and therefore easier to deceive.
One prominent example: They were promoting GMCI shares (back then listed on the Nasdaq OTC Pinksheets market (where all risky, shady stocks are listed)). They were selling shares of this company as a major investment holding company and make it look as if their portfolio existed of many different successful companies. However SEC filing reports would show that the only company GMCI owned was a mining company with large debts, zero mining activity, not even having any mining claims (existing mining claims were expired). It also turned out that in 2016, despite their claims of being such a huge company to potential retail investors, the revenue was literally zero! Yet, while the stock was still trading OTC, there was hardly any trading volume, many days no trading, or in the couple of $100's till occasionally a few $1000. Still, the market cap based on the traded prices was about $700 million. Very shady practices if you read through their company filings. Because they were late with their SEC filings at some point, they got temporarily suspended. Afterwards they decided to revoke their OTC listing and therefore were not required to file publicly with the SEC anymore. Investors were able to purchase these shares "pre-IPO" (they claimed to be listed on the NASDAQ main exchange by 2018, which was then postponed to 2019), for a rising price between $0.50 up to $1 (par value of each share $0.001), which looked like a discount from the traded price (when it was still listed) of around $2.50-3.00. If you bought more shares, you would end up higher in the pyramid reward program for higher commissions and more levels pay out. There is much more to tell from what I was able to find out, but I just wanted to give a short impression. And it seems that they are still promoting new "investment opportunities".
Yup, if Elitetreum is promoted by this organization, I do not have to research it any further, because I already don't trust them one single bit AND their nature as a Pyramid scheme is the major red flag no-go zone! Please be aware.