While the popular Ponzi scheme, MMM gained momentum in Nigeria before its recent freeze, another scheme reared its head and many Nigerians once again rushed into it. It was called ‘Ultimate Cycler’.
The scheme was short-lived however as it crashed on December 1, sending participants into a frenzy. It relaunched on Friday, December 16, but it is yet to refund money back to the participants.
Who is the Ultimate Cycler founder? His name is Peter Wolfing. Who is Peter Wolfing? Find out below:
1. His early life
Peter Wolfing’s experience as a network marketer dates back to his multi level marketing (MLM) training in the early 1980’s when he was a sergeant in the U.S. Marine Corps.
He started out as a distributor, and became an industry leader in MLM.
2. His company
Peter Wolfing launched Multiplex Systems, Inc. in 1998. A company that develops and provides support services and training products to network marketing companies.
Multiplex Systems creates software to help MLM companies and their distributors generate leads for their businesses.
Their products include everything from phone broadcasting, email marketing, forum prospecting and list scraping software, educational webinars and even text broadcasting.
3. His work
Peter Wolfing goes by the name “The Online Tool Guy.” This is because he works majorly with producing tools for internet marketers and leads.
Here are some products that have already come out this year and some that are on the verge of being released.
– “Gmaper” is a software program that Peter helped develop.
– Next is a Postcard lead generator.
– The Text Broadcast Club is another tool that you can use.
– The biggest and latest project is Lead Tool Box which is essentially 16 tools in 1.
4. His reputation
Peter Wolfing first launched the Ultimate Cycler in 2014, it crashed after a while.Then he launched other schemes:
– Turbo Cycler
– Business Toolbox
– Infinity 100
– Pay Me Forward
– Easy 1Up
All of which have crashed, leading to huge loss of money. So all the schemes have been like this:
– No retail products or services.
– Making member to member payments.
– Once the scheme dies off, so will the payments and pass ups.
It looks like Wolfing put himself at the top of each scheme so once this company goes under like all the other ones he launched, he will just take the money and start another one.