The President of the Polish competition authority has raised concerns about iGenius LLC, a company based in Kaysville, USA, which offers educational services on financial management. The authority believes that the company's partner program may operate as a pyramid scheme, which is illegal and poses significant financial risks to consumers.

iGenius sells online training packages on internet investing through its platform, with fees ranging from nearly $100 to about $1,500. Consumers gain monthly access to selected content and are encouraged to join a promotional program that promises financial benefits. This requires them to pay a subscription fee and recruit new users, creating a network that could indicate a pyramid scheme structure.

The President of the authority has reported the potential criminal activity to law enforcement and has issued a consumer warning regarding iGenius's operations. The warning highlights that the educational aspect of the business may merely disguise the true intent of generating revenue from new recruits, which could lead to significant financial losses for consumers.

Pyramid schemes rely on a continuous influx of new members and their payments, which is unsustainable in the long run, leading to the collapse of the scheme and financial losses for participants. The authority has also charged six promoters associated with iGenius, who are part of an informal group called Gamechangers Polska, with promoting the program. If found guilty, they could face fines of up to 10% of their revenue.

The Polish competition authority is actively monitoring the market for potential pyramid schemes and has previously issued warnings against similar programs. Consumers are advised to verify the legitimacy of investment opportunities and promotional programs before committing their savings.