This review demonstrates that the Palm Alliance Management investment company is in reality a pure scam that is destined to fail.
What is Palm Alliance Management
Palm Alliance Management presents itself as an investment company that was founded in 2010 with the aim to deliver compelling investment results for its clients over the long term.
The company says it has offices in 20 cities across 15 countries and more than 1,100 employees.
Palm Alliance is investing on behalf of its clients and supposedly generating daily returns from 0.68 to 0.98%.
The minimum investment amount is 100 USD and you will get 0.68% daily returns on weekdays. The duration of the plan is 10 months.
To get 0.98% daily from Monday to Friday, you will need to deposit at least 100,000 USD, while the duration of this investment plan is 8 months.
Palm Alliance claims to be based in the United States. But is it a legit company and investment program that you can trust?
Palm Alliance Management is a scam
Our research clearly shows that Palm Alliance Management is an unauthorized and fraudulent investment platform that you should stay away from. It lies about its history and it is not doing any real investing.
Here are the details.
Non-existing company, full of lies
Let’s start this review with a background check of Palm Alliance Management. It says it has been around for 12 years, since 2010, and that it is well established, managing billions of dollars for its clients.
The first red flag is that on its website, you won’t find any contact section with full details about the company.
You have to go to one of its annual reports to find an address, Palm Alliance, Inc., claims to be based in Boston, Massachusetts. Which is another strange thing, because its affiliates claim that it is incorporated in Delaware, which corresponds with its profile on Google.
To get answers, you have to go to the Massachusetts Corporations Search and the Delaware Division of Corporations. There you will find that there is no Palm Alliance company registered in these states.
In other words, Palm Alliance Management is a fake company, it is not registered in the United States.
So forget about the alleged firm’s history dating back to 2010, it is a shady entity with no registration and no history.
It is also obvious that the information about offices in 15 countries is a total lie.
Not even one year old
To get an idea about how old the Palm Alliance Management project really is, we analyzed the history of its website and its palmalliance.com domain name.
The domain name was first registered in 2016, but it belonged to another entity. In 2019 the website was empty, it was expired.
Only at the end of 2021, the current website appeared on that domain, meaning that the current project is not even one year old.
So much for a long history and proven track record.
Illegal investment service
By its own admission, Palm Alliance Management is an investment company. You are supposed to give it your money, the company will invest it in various assets and allegedly generate you returns.
As such, Palm Alliance has to meet requirements that are set by investment laws in every country it is targeting with its services.
Primarily in the United States, since it claims to be based there. Financial regulation is pretty strict in the US, every investment company has to get a license.
Clearly, Palm Alliance Management is not authorized/licensed in the United States in any way. Which makes it an illegal investment service.
Should the company be authorized in any country, it would legally be required to provide that information on its website. Since it provides no such regulatory information, we have to assume it has no license whatsoever to provide investment services.
The story of the investment plans
The first red flag that we immediately saw with Palm Alliance Management during our research, was the investment plans.
0.68 to 0.98% on weekdays equals to 14.28 to 20.58% per month (calculating with an average of 21 working days per month). Which is absolutely huge.
In fact, it is so big, that it is a proof in itself that Palm Alliance can’t be legit, that it is a scam. No legitimate investment company in the world is able to generate 20% per month in stock investing, that’s just impossible.
20% per month is something that you see with Ponzi scams only. You can be pretty much sure that whenever you see an offer with returns of this magnitude, you are dealing with a scam.
It really is as simple as that. Accepting the fact that no legit investment company can make you 20% month in, month out, will help you avoid many scams in the future.
How Palm Alliance Management works in reality
We have already touched the subject, Palm Alliance is a Ponzi scheme. Working like this will allow it to pay its users for some time, before the inevitable collapse comes.
Ponzi schemes just take money from new users and give it to older users. So they need a continuously growing inflow of deposits, which can only last for so long. That is why they always, always end up in a total crash.
No profits pulled out of Ponzis like Palm Alliance are legit, a lot of people always have to get scammed in order for a few to profit.
Add to this the fact that these financial pyramids are hard to predict in terms of when will they collapse and you have two major reasons for staying away from them.
Because if you invest money in Palm Alliance, it can crash any time and you won’t be able to get your money back, since deposits are made in cryptocurrencies only.
Palm Alliance Management review – Conclusion
Palm Alliance Management is a fake company with no history, an illegal investment service and a Ponzi scam. It is going to collapse and lose money. This is why you have to stay away from it.
Making money in investing is possible, but it is not easy and there are no guarantees. Nobody will make you 20% monthly for free, like Palm Alliance promises, that is a fact.
Thank you for your honest feedback and review. Time to take my chances and reap the rewards
I already figured it was a scam when my friend brought it to me. Told her the 13k she put in for 10 months it likely gone. To pull what she can put now and not keep putting it back in. But she is convinced like so many others it is a real company . Not me I tell ya I got hit hard earlier this year and won’t put my hard earned money in someone else’s pocket again.
Not true. Palm Alliance is a legitimate company. I’m making money daily. So y’all need to stop lying on this company.
Yeah, Ponzis earn money to people… until they don’t.
Palm alliance is not a scam. I’ve been with them for a couple of months, and as at now, all is well and I’ve got no reason to call them a scam.
Secondo me è un azienda seria e questo articolo lascia il tempo che trova, le scam sono ben altre piattaforme così come i ponzi, ma è sempre facile parlare male delle aziende.. La realtà dice che paga, non tanto come le scam, e continua a pagare da tanto… Detto questo ovviamente possono sparire tutte le aziende sia serie che scam, ma io ho fiducia sta pagando bene e sono sereno.
You’re a liar and defending a scam. Shame on you.
This makes me laugh. If people want to do proper reviews of company’s then at least speak to the company and current investors .
Firstly the registration documents are there since 7 years back and it’s call Palm Equity Partner not Palm Alliance . Ofcourse of people take time with open mind to reseach properly they would find the Answers.
( filing number 5972619)
Also you can pay 25 usd to the tax department to download their tax filing histories in doing that .
Thirdly how many people have you spoken to who have invested in Palm because I’m in touch with 1500 people who have a number have invested 5-7 years who know the full history of this company .
The owners have chosen to not be in public for a number of reason . Firstly crypto payment is offered unlike conventional banking institutions and therefore Palm and other similar companies are at risk from the big boys ( banks etc) who they compete with . By remaining anonymous it’s easier for them to move in and out of the market and this discreetness perhaps what’s allowed it to exits so long as well .
Ofcourse ideally CEO should be made public etc but that does not guarantee viability of a company as we have seen endless scam where we know the CEO and so on .
I’ve been in Palm for 7 months since June 2022 and my friends since 5-7 years which means it indeed has existed over year .
With regards to the website etx. I need to ask the company but often they move server and stuff so you’d need to see on another source the original website registration or any changes along the way .
Bottom line Palm is registered and regulated the USA under Palm equity partners as above … second is had run at least 4-7 years and hasn’t missed a pay of payment since . I can vouch for 7 months only since I’ve joined
Also has anyone checked trust pilot rating ? Please go there you will find your answers and see what other investors say .
Finally due diligence is not a quick Google search on these websites who’s main job is to write controversial content to drive traffic and paid ad or promote their own scams and affiliate marketing BS.
I can see there’s already and ad for diamonds on this website lmao…
Normally I would forward on decent reviews however .. I’m not going to share this website content as all that does is drive more traffic to make money for fake news
What exactly makes you laugh? That Palm Alliance stated on their website that the company behind it is called Palm Alliance Inc. and that it is from Boston, while no company of this name exists in Boston?
Or maybe that when I pointed out this lie in my review, they removed that information from their website and now they don’t provide any company information at all?
Now they decided to use a name of another company and I don’t care how they tricked Open Corporates to publish the link to their website.
Regulated? Regulated by who? They are not regulated at all. Palm Alliance can’t be regulated because it’s a scam.
I strongly encourage anybody who considers investing with Palm Alliance to first contact their national financial regulator about it and then post the answer here.
Start in Delaware where Palm Alliance supposedly is based an registered: https://banking.delaware.gov/contact/
Palm has been offering services to institutional investors since 2010 and only to the public since 2017 per their website
And it’s a lie.
https://opencorporates.com/companies/us_de/5972619 ( company registration)
ANYONE can register an LLC in Delaware! Just because you’ve paid the nominal fee to register an LLC in Delaware does not mean you’re in any way a legit business, let alone investment firm. The US BBB has no info on them. https://www.bbb.org/ If they were legit investment firm in the US they’d be registered by the SEC and FINRA. https://brokercheck.finra.org I agree, there are a few things in the review that may be debatable, but the general idea seems to be accurate. The company makes money by getting users to sign up more users…pyramid scheme….or as the original author said, a ponzi scheme. I am a supporter of crypto, however this seems like a very shady way to use it and a prime example of why governments want to regulate, control, or ban crypto.
To sign up they want your name and a copy of your driver’s license. Not sure I’m comfortable giving this company a copy of my personal information. Also, the info they’re asking for is NOT enough IF they were a legit investment firm. Look up Know Your Client (KYC) requirements….they do NOT meet them in the slightest.
I could probably go on. But, there’s enough in the article and the replies here to bring enough doubt, so I’m staying away. Look this company up in another 5 years and let’s see if we’re wrong. I’ll take my chances elsewhere though. Hell, I’ll go buy $500 in lotto tickets first…at least it’s a government sponsored ponzi scheme! LOL
I always strongly encouraged everybody to ask their national financial regulator or a licensed financial advisor about any investment offer like Palm Alliance. They should not blindly trust anonymous people on the internet, including me. But I have to brag a little bit here, in 10 years I’ve been doing I wasn’t wrong a single time with my reviews.
Honestly, I agree with your review and analysis. I do think there may be a couple of things that could be debated, but nothing critical to the conclusion. There’s no way I’d give Palm Alliance / Equity a dime, let alone my personally identifiable information (PII) that they could misuse or improperly secure causing me issues in the future should they have a data breach. I mean, if they are this lazy in their attempt to seem legit, what makes anyone think the copy of their drivers license is secured? I’m sure an authorized pentester could reveal the info pretty easily. So James, we’re on the same sheet here!
Avoid at all costs and Beware of many issues including non payment, potential ponzi scheme!
I joined Palm Alliance in May 2022 and up until a few months ago I have been very happy with the way things were run and the way payments were made relatively speedily. In recent months there have however been many red flags and I have witnessed many glitches in their system that have affected not just myself but many people that I have invited, some of these glitches have been appalling. One lady opened 2 accounts last year with $60,000 in total invested on a daily payout portfolio which meant she could withdraw her interest daily. Late October last year they stopped her withdrawals and she has never been able to withdraw since. After weeks and months of chasing support, they came back and alledged that she had changed both the accounts to compounding which she certainly hadnt and therefore they said ahe could not withdraw until end of the term which is now next month on one of them. During these previous months a cancelled withdrawal attempt of $13,000 went missing from her account for several weeks with no response from support at all. There is no customer support to speak of, they ignore messages and nothing gets resolved. My portfolio ended 3 weeks ago and I have not been allowed to withdraw my total capital of over $10700. After not paying me my capital when it was due, two days ago they placed my capital back into a 10 month compounding portfolio without my authority and have told me they cant pay me until issues with USA banks are resolved and until they have completed their fiscal reports. On top of that I have bonuses that are not being paid out and are being withheld and all communications are being ignored. I now doubt that this company is a legitimate business as it appears that they are using new money to pay older customers especially only the ones that will keep sharing the business with other people. I have been literally blackmailed in text messages by one of their alledged (One minute Human resource then titled herself support) support representatives called “Rhonda Virlisa” to either share the business with more people and grow it for them or they will not be inclined to help resolve any issues for me or my team. Due to the lack of response and no resolve for me and my team who have in total invested over $255,000, I have no alternative but to commence filing reports to instigate investigations by several US Federal authorities.