Is Elamant a Scam? A Notorious Saivian Ponzi Scheme Reboot!

Elamant is a Ponzi scheme that launched in 2017 and operated out of Singapore through Elamant PTE LTD. 

The company was incorporated in Singapore in October of 2017 with a Singapore address. This address however has multiple businesses listed on them, so it appears to be a virtual office service and exists only in Singapore. Note that there’s nothing wrong about this because Singapore’s incorporation process is really strict and you can get your business registered as long as you have a Singapore address.

Elamant was headed by CEO Ryan Evans, based out of California, USA. We believe that the company really operates out of USA and not Singapore. 

Prior to Elamant, Evans participated in another Ponzi scheme called Saivian, where he played the role of Operations Director. Saivian was a cash back MLM Ponzi scheme that collapsed in 2017. It comes as no surprise that Elamant was also incorporated in 2017 when Saivian collapsed. 

Saivian was a receipt cashback scheme that promised a daily ROI of up to $3000 as long as members were subscribed to the $125 monthly investment. ROI payments were tied to direct recruitment, with newly invested funds recycled to pay off the existing members. 

The company duped investors in Asia and the scam collapsed in 2017, with top investors being arrested in China. 

Saivian’s management and ownership are still at large, and no legal actions have been taken against any of them at this time of writing. 

We have reason to believe that Elamant is a reboot of Saivian, especially its compensation plan. 

Elamant Product Line

Elamant has no retail products or services. Members are only taking part in the income opportunity through their receipt cashback scheme and discounted travel booking portal. 

Does The Product Work?

Saivian and Elamant operated in a way that they didn’t necessarily do the usual Ponzi things, but they still reeked of Ponzi. 

The biggest giveaway of them being a Ponzi was their advertised ROI, which was a laughable amount. It was laughable in an impossible way. 

They don’t disclose to you how this ROI is reportedly generated. The scheme was nothing more than a pump-and-dump scheme where you dump $125 a month into the program and get others to do the same for you, which thereby pumps your income potential. 

What’s really happening here is that both companies are selling data. When you sign up for the programs, you’re giving out your personal information. When you make an investment, you’re also giving them your financial information. So that’s a lot of risks involved. Mass data collection niche is big business, and that’s why these ponzi schemes are proliferating. 

Elamant follows the same MO as their predecessor. People invest through a monthly subscription, recruit people into the program, and then earn the promised ROI.

Elamant’s MLM opportunity also has nothing to do with receipt cashback or discounted travel booking. These are merely smoke and mirrors to make the governing bodies that watch over MLM companies look the other way. 

In October 2019, Evans was added a defendant to the SEC’s Saivian Ponzi lawsuit. And in Nov 2020, Elamant made changes to their compensation plans as well.

Elamant only offers one way to make money and that’s through recruitment. 

How To Get Started with Elamant?

Elamant has a monthly investment membership fee of $128. Continuously subscribing to the program will allow you to enjoy their compensation plan. 

Elamant Compensation Plan

Elamant members invest a monthly fee of $128 on the promise of annual ROI of over 1 million dollars, as seen below:

• Consultant (maintain at least three personally recruited member investors and have a total downline of twelve or more member investors) = $100 weekly ROI ($5200 annually)
• Senior Consultant (recruit and maintain at least four member investors and have a total downline of forty or more member investors) = $180 weekly ROI ($9,360 annually)
• Executive Consultant (recruit and maintain at least five member investors and have a total downline of eighty or more member investors) = $280 weekly ROI ($14,560 annually)
• Manager (maintain at least five personally recruited member investors and have a total downline of one hundred and fifty or more member investors) = $720 weekly ROI ($37,440 annually)
• Senior Manager (maintain at least five personally recruited member investors and have a total downline of three hundred or more member investors) = $1200 weekly ROI ($62,400 annually)
• Executive Manager (maintain at least five member investors and have a total downline of five hundred or more member investors) = $1530 weekly ROI ($79,560 annually)
• Director (maintain at least five member investors and have a total downline of seven hundred and fifty or more member investors) = $1800 weekly ROI ($93,600 annually)
• Senior Director (maintain at least five member investors and have a total downline of one thousand or more member investors) = $2300 weekly ROI ($119,600 annually)
• Wood Executive (recruit and maintain at least six member investors and have a total downline of four thousand or more member investors) = $4800 weekly ROI ($249,600 annually)
• Fire Executive (recruit and maintain at least seven member investors and have a total downline of six thousand or more member investors) = $7000 weekly ROI ($343,000 annually)
• Earth Executive (recruit and maintain at least eight member investors and have a total downline of eight thousand or more member investors) = $9000 weekly ROI ($468,000 annually)
• Metal Executive (maintain at least eight personally recruited member investors and have a total downline of sixteen thousand or more member investors) = $12,250 weekly ROI ($637,000 annually)
• Water Executive (maintain at least eight personally recruited member investors and have a total downline of thirty thousand or more member investors) = $18,000 weekly ROI ($936,000 annually)
• Elamant Executive (maintain at least eight personally recruited member investors and have a total downline of fifty thousand or more member investors) = $38,462 weekly ROI ($2,000,000 annually)

Elamant downlines are also tracked through a unilevel team structure, which will track down indirect and direct member investors and track down your commissions. This structure is not fully explained in their compensation plan.  

#1 Recruitment Ponzi Scheme!

Elamant is nothing more than a Ponzi scheme. Recruitment is the name of the game here, which is the biggest red flag of them all. 

There’s no proof that they are generating income outside of recruitment. The discounted travel platform and receipt cashback are not part of the income opportunity. 

#2 Shut Down and Rebooted!

Elamant collapsed and rebooted into a different platform. They still continue to operate with the same compensation plan, but this time using a different platform. 

Elamant collapsed because there were no more funds coming into the business. 

#3 Sued By The SEC

The SEC sued Saivian and its former owner Eric J Dailius in November 2018. Ryan Evans, founder of Elamant, was added as a defendant in 2019. The SEC sued Saivian for being a $165+ million Ponzi scheme. The trial was set for March 2021, but for Covid-19 reasons, they pushed it back for November, pending mediation. 

As of July 31, a new trial date for September 2022 was set after failed mediation proceedings.

There’s nothing to like about Elamant. 

Elamant is a Ponzi scheme that’s possibly a reboot of Saivian. Like its predecessor, we doubt we’ll be seeing this last for a long time. 

Evans, the founder of Elamant, has been named as a defendant for the Saivian lawsuit for his participation in the program. We have reason to believe that he rebooted Elamant’s program to avoid getting the SEC’s attention. 

As it stands, there’s no proof of income generated by Elamant outside of new member recruitment.

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