If you thought you’d seen the last of serial scam promoters Paul Albertus and Joseph Tran, think again. These two are back, pushing yet another Ponzi scheme on unsuspecting investors.

This time, they’re promoting Glory Assurance International Limited, a so-called “insurance company” that is nothing more than a cleverly disguised scam.

As The Crypto Ponzi Scheme Avenger, my mission is to call out scammers, expose Ponzi schemes, and protect everyday investors from being fleeced by these bottom feeders. And in this exclusive, secret video release, Paul Albertus and Joseph Tran get put under the spotlight and called out for their deceptive tactics. It’s an absolute must-watch.

Who Are Paul Albertus and Joseph Tran?

Paul Albertus: The Serial Ponzi Promoter

Paul Albertus has been deeply involved in shady MLM Ponzi schemes. His track record includes promoting Trage Technologies, a scam that operated under the guise of a multi-level marketing (MLM) company but was, in reality, a pyramid scheme that relied on recruitment rather than actual products or services.

Albertus leveraged his MLM network to bring in fresh victims, ensuring that Trage Technologies survived long enough for him and other top promoters to cash out before it inevitably collapsed. Now, he’s shifted gears and is actively promoting Glory Assurance International Limited, another scheme that shows all the classic red flags of a Ponzi scam.

Joseph Tran: A Career Built on Deception

Joseph Tran also played a key role in Trage Technologies, promoting the scheme while reportedly collecting unemployment benefits. He eventually distanced himself from Trage, but instead of turning a new leaf, he’s back with yet another scam—Glory Assurance. His involvement should be a massive red flag for anyone considering putting money into this so-called insurance company.

The Truth About Glory Assurance International Limited

Glory Assurance markets itself as a Seychelles-based insurance company specializing in covering “unique risks” in the gaming industry. Sounds fancy, right? But let’s break it down and look at what’s really happening.

  • The company provides zero transparency about who owns or operates it.
  • There is no evidence that it actually underwrites any legitimate insurance policies.
  • Its entire business model revolves around an MLM recruitment structure, meaning investors are only making money if they bring in more victims.

This is not an insurance company. It’s a Ponzi scheme that masquerades as a legitimate business to lure people in with fake promises of security and high returns.

Red Flags About Glory Assurance International Limited

1. Anonymous Ownership

If a company is truly legitimate, why hide who runs it? Glory Assurance provides zero details about its executives or leadership team. This is a major red flag.

2. No Verifiable Business Operations

Despite all the fancy marketing, there is no actual proof that Glory Assurance provides real insurance services. There are no independent audits, no regulatory filings, and no legitimate industry recognition.

3. Newly Registered Websites

Both of its domains, gloryassurance.com and hashkingdom.com, were privately registered on February 2, 2024. A newly created website for an “established” insurance company? That’s not a good look.

4. Ponzi-Style Investment Model

Glory Assurance operates a “click a button” Ponzi scheme, where investors are promised daily returns for engaging with their app. Legitimate businesses don’t pay people just to click a button.

5. Chinese Scam Ties

The source code of Glory Assurance’s websites contains Chinese text, suggesting links to Chinese scam factories that run MLM frauds out of Southeast Asia.

6. No Retailable Products or Services

There’s nothing to buy or sell. The only way to make money is by recruiting others, which is the definition of a Ponzi scheme.

7. Unsustainable Returns

The advertised investment plans promise daily returns of up to 0.5 percent, which is simply not possible without fraud.

8. Referral-Based Pyramid Scheme

Glory Assurance pays commissions on investments, not on product sales. That’s a classic pyramid scheme.

9. Dependency on Continuous Recruitment

The model only survives as long as new investors keep coming in. Once recruitment slows, the entire scheme collapses.

10. Identical to Other Failed Scams

This follows the exact same pattern as collapsed scams like RainbowEx, Gxness, and TRC Trade.

11. High Risk of Sudden Shutdown

Most “click a button” Ponzi schemes disappear overnight, leaving investors with nothing.

12. Links to Criminal Organizations

Many similar scams have been linked to organized crime networks operating out of China and Southeast Asia.

13. No Evidence of Real Trading

Despite claims of trading signals, there is no actual proof of trading activity.

14. False Roadmap and Future Promises

Glory Assurance claims they will launch an IPO and expand into the metaverse, but there is zero proof that any of this is real.

15. Guaranteed Collapse

Like all Ponzi schemes, it will collapse—leaving the majority of investors with losses.

The Verdict: Glory Assurance is a Scam

If you’re considering investing in Glory Assurance, do not fall for it. This is just another fraudulent scheme designed to steal money from unsuspecting victims. Paul Albertus and Joseph Tran are serial scammers who have a history of promoting Ponzi schemes and leaving investors in financial ruin.

Protect Yourself and Others

If you know someone considering investing in Glory Assurance, share this blog with them. The more awareness we can create, the fewer people will fall victim to this scam.

Follow The Crypto Ponzi Scheme Avenger for more hard-hitting investigations exposing fraudsters. Let’s put an end to these scams and protect innocent investors from losing their hard-earned money.

About the Author Danny de Hek, also known as The Crypto Ponzi Scheme Avenger, is a New Zealand-based investigative journalist specializing in exposing crypto fraud, Ponzi schemes, and MLM scams. His work has been featured by Bloomberg, The New York Times, The Guardian Australia, ABC News Australia, and other international outlets.

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PONZI UNRAVELING: GLORY ASSURANCE SWITCHES TO P2P WITHDRAWAL TO DELAY COLLAPSE

UPDATE:
We’ve now heard from a concerned individual based in the Philippines who invested a significant amount into Glory Assurance International. After initially being able to access the platform, everything changed on April 16, when Smart Telecoms blocked access to the Glory Assurance website. From that point forward, users were forced to use VPNs just to log in—an obvious red flag for any legitimate company.

Soon after, withdrawals were disabled altogether, and a peer-to-peer (P2P) “withdrawal” system was introduced. This system now requires users to recruit new investors in order to access their own funds—a textbook exit strategy commonly seen in collapsing Ponzi schemes.

The person who came forward also revealed that representatives from the scheme—Paul Albertus, Steven Huat, and Alex Hung—allegedly visited Palawan earlier this year to meet with local promoters. Now, as fear grows among participants, the platform’s so-called “management” has responded not with transparency or refunds, but with legal threats.

After forwarding a video that exposes Paul Albertus’s role in promoting Glory Assurance, the whistleblower was told that Albertus could file cyber libel charges for simply sharing publicly available information. This intimidation tactic only further reinforces the toxic, abusive nature of these operations, which silence victims instead of taking accountability.

To anyone reading this: You are not alone. If you’ve been affected by Glory Assurance, now is the time to come forward. We are gathering information on recruiters and leadership figures involved so we can assist in reporting them to the authorities.

These scams thrive in silence. Let’s make some noise.

— Danny de Hek, The Crypto Ponzi Scheme Avenger