How three people corrupted the idea of financial education in Greece

“Easy money” or a well-engineered pyramid? An investigation into the activities of BE / Better Experience and the Greek Elevation X network.

How an international “education” narrative translates in practice into a enrollment model in Greece, with references to a global network linked to pyramid-style practices and the OneCoin fraud.

This is reported by Jay Raissis.

A case raising serious questions about the operation of a potential pyramid scheme appears to be unfolding in Greece, centered around BE / Better Experience and networks of individuals actively operating through social media.

The investigation began following a personal experience of being approached via Facebook by someone from a close circle, who proposed an opportunity to earn “passive income” with minimal effort. According to the claims presented, participation in the scheme could generate up to €2,000 per month with just four hours of work—an assertion that in itself raises reasonable suspicion.

This was followed by an online presentation of the “business model,” during which it emerged that BE / Better Experience is reportedly based in Dubai. Its activity in Greece appears to be linked to a group called Elevation X, which operates through Instagram profiles and a Telegram group.

The Greek network: from “education” to recruitment

According to the presentation, the core “business model” does not involve the independent use of a service or the development of a standalone investment activity, but rather the enrollment of new members into the system.

Those who join are asked to invest money with the expectation of earning financial returns. However, based on the structure and mode of operation described, the central element of the model is the continuous inflow of new participants.

The organization of members follows a hierarchical structure, with titles such as “Senior Team Leader,” “Team Leader,” “Consultant,” and others. According to an anonymous source familiar with the Greek Elevation X community, members earn money by recruiting new participants, who in turn “invest” funds into the scheme, and so on. This structure resembles a multiplicative growth pattern often described as 1-2-4, where each level depends on enrolling an increasingly larger number of new members at the next stage.

What the conversation itself reveals

Particularly significant are the statements made during the call, for which an audio recording is also available.

According to what was said, the third stage of a member’s participation involves actively promoting the platform’s “tools” to new individuals. In other words, the concept of “work” simply means recruiting new members.

When directly asked whether this was her main professional activity, the interviewee responded affirmatively. As she stated, she had been highly satisfied with her “investments” and was now seeking new individuals to introduce into the scheme.

This admission is especially important, as it shifts the focus from the consumption of a product or service to the replication of the network itself.

In communication with a source who claimed to have previously been approached by an individual described as the mastermind of the Greek Elevation X community — identified as Odysseas Koutsoupis (coach.odi on Instagram) — additional details emerged about how the network operates.

According to this source, the model primarily focuses on “sales,” which in practice means recruiting new members. As he put it, “you earn money and move up levels depending on how many people you bring into the system.”

In the same conversation, it was claimed that an acquaintance who had joined the scheme later left because he was unable to find others to “sell” the idea of participation to, as he was not skilled in sales. As the source stated: “I had a very close friend who did it for a while, and he simply couldn’t enroll people because none of his friends wanted to join.”

These accounts, based on testimony from someone familiar with the Greek community, reflect characteristics that, according to international practice, are commonly associated with pyramid-type companies.

What Elevation X is

Elevation X is a “community” (as its members describe it) operating in Greece and Cyprus which, based on available information, recruits new, unwitting individuals to participate in the BE / Better Experience scheme. From the conversations available, as well as videos posted on social media—both by Odysseas Koutsoupis, who is described as the mastermind of the Greek community, and from accounts linked to the community itself—it appears that Elevation X acts as a representative of BE in Greece.

A review of its Instagram account shows that the earliest videos focus almost exclusively on Odysseas Koutsoupis, reinforcing the perception that he is a founding member of the community. He claims that through his activity in BE, he earns a monthly income of around €10,000.

An anonymous source states that this income stems from the fact that he was among the first to introduce the system in Greece and has recruited more than 200 individuals. The same source also identifies Alexandros Gkouskos as another founding and high-ranking member.

The community appears to have a significant presence in Greece and Cyprus and frequently organizes “empowerment” events in central hotels in Athens. As highlighted in the report, on April 4–5, 2026, a conference titled “BeyondX 2” was held, reportedly attended by an Italian BE figure named Giorgio Trabaldo, who is identified as part of a pyramid-type system in an investigative article from a Russian website.

At the same time, it appears that Elevation X organizes events on a monthly basis—and in many cases more than once per month. For example, on February 22, a seminar titled “Financial Education in One Day” was held, with a participation fee of €40, also featuring the same Italian figure.

Based on the material available and analyzed, Odysseas Koutsoupis is presented as a high-ranking member of the scheme, specifically as a Vice President, alongside Giorgio Trabaldo as Global Director.

Additionally, the same data indicates that in February alone, at least 12 events were held. Specifically, activities took place on 10/2, 12/2, 13/2, 15/2, 16/2, and 17/2 across multiple locations, including Rethymno, Heraklion, Chania, Thessaloniki, Agrinio, Komotini, Larnaca, Zakynthos, Volos, Kavala, Nicosia, and Serres.

At these events, a central role appears to be primarily held by Alexandros Gkouskos and, to a lesser extent, Odysseas Koutsoupis. At the same time, the related “posters” feature other individuals who, based on their titles or ranks within the system, seem to occupy lower positions in the hierarchy.

Among the serious irregularities—which, following the publication of the report, have been communicated to the Hellenic Capital Market Commission—is the operation of a Telegram group where data on members’ investments and turnover is shared. Each such post is accompanied by a disclaimer stating that it does not constitute investment advice and that past performance does not guarantee future returns.

However, the overall picture suggests that, beyond recruitment activities, these groups—alongside financial seminars lasting up to 24 hours and conducted by individuals without apparent certification or licensing—also exchange investment “tips” through their Telegram channels.

What BE / BETTER EXPERIENCE is

BE presents itself as a subscription-based educational platform. On its official website, it offers access to digital products that claim to teach users how to navigate financial markets and develop business skills.

The company states that its partners earn commissions from product sales, not from recruiting new members. It explicitly rejects the characterization of its model as a pyramid scheme.

According to its own claims, income is generated through legitimate customer subscriptions, while the majority of participants are presented as regular users rather than affiliates.

Such positioning is not unusual in this sector. Multi-level marketing companies often highlight the existence of real products as a key element distinguishing them from illegal schemes.

The critical distinction, however, lies not only in the existence of a product but in how income is actually generated. If the primary financial incentive comes from enrolling new members rather than selling products to independent customers, then the structure constitutes a corporate pyramid.

The connection between the founders of BE / Better Experience and the OneCoin fraud

Understanding the relationship between the founders of BE and the OneCoin fraud is a critical element in analyzing the very nature and operation of BE. The available evidence suggests not just a superficial link, but a continuation of practices, networks, and business models reproduced from one scheme to another.

OneCoin, widely described as one of the largest financial frauds of the 21st century, was based on a system of mass enrollment of investors under the guise of a “revolutionary” cryptocurrency. A central figure in the case was Ruja Ignatova, who disappeared in 2017 after an FBI arrest warrant was issued. According to reports, she is believed to have extracted enormous sums, reportedly up to 230,000 BTC (around €15 billion).

A key characteristic of OneCoin was that its value was not based on a real market or technology (such as blockchain), but on internal “tokens” with no real liquidity, making it structurally a Ponzi-type scheme.

In this context, the Islam brothers (Moyn, Monir, and Ehsaan), who were later linked to BE—and today appear as CEO, CFO, and in other executive roles—played an active role in promoting OneCoin, not as ordinary participants but as top recruiters. Specifically, they led one of the largest networks (downlines) in the United Kingdom, with more than 26,000 individuals under them. In such structures, top recruiters serve as the driving force for both the spread and funding of the scheme.

Their departure from OneCoin in 2017 was not accompanied by clear denunciations or disclosures of the system’s flaws. On the contrary, they avoided giving public explanations, while continuing to express belief in the “vision” of OneCoin, even after ceasing active promotion. This stance reflects a broader pattern observed in pyramid schemes: leading figures gradually exit without dismantling the system, in order to preserve their network for future use.

This is precisely what appears to have happened in the transition to subsequent ventures. After OneCoin, the same circles became involved in other similar schemes, such as Melius, which was presented as an “educational platform” but was based on subscriptions and promises of AI-driven trading. This pattern—disguising an enrollment structure as “education” or “technology”—is repeated in the case of BE.

BE is officially presented as a “self-development and business ecosystem.” However, based on available information, its business model relies primarily on selling subscriptions and attracting new members, which also generate the main commissions. Specifically, participants’ earnings largely come from recruiting new users, with commissions reaching up to 30% of their subscription fees. This is a key characteristic of pyramid structures, where financial sustainability depends on the continuous inflow of new participants.

The connection to OneCoin is not limited to individuals but extends to methodology as well. In both cases, the following patterns can be observed:

• the use of aggressive lifestyle marketing (wealth, travel, luxury),

• an emphasis on “life-changing opportunities” and rapid enrichment,

• the absence of a clear and transparent product with real market value,

• and a shift in revenue generation from product consumption to the recruitment of new members.

Additionally, BE appears to follow another characteristic pattern seen in OneCoin: adaptation and rebranding after regulatory interventions. In several countries, warnings or bans have been issued regarding its operations, often accompanied by changes in domains, branding, and business models.

Specifically, since its founding, BE has changed its domain name at least five times. The domains identified where the company previously operated include: befactor.com, berules.com, betoinspire.com, be.club, and beclub.com, with the latter being the active domain at the time of publication.

This strategy of “migration” and reappearance is a well-known practice in international financial fraud schemes.

Overall, the connection between BE’s founders and OneCoin cannot be considered accidental or superficial. On the contrary, there is a clear continuity both in terms of individuals and practices. The same key figures who built large networks within one of the world’s biggest Ponzi schemes are now reappearing in a new venture with similar structural characteristics. The experience they gained from OneCoin—particularly in enrollment, network management, and narrative building—appears to be leveraged in the creation and expansion of BE.

This analysis does not automatically prove that the two schemes are legally identical, but it highlights a pattern of continuity which, combined with BE’s structural features, raises serious questions about its sustainability and legality.

Investigations and warnings from abroad regarding BE / Better Experience

Outside Greece, authorities have already begun to turn their attention to the case.

In March 2026, the Norwegian Consumer Authority, in cooperation with the country’s financial supervisory authority, issued a public warning regarding Better Experience and related entities. The authorities stated that these companies do not hold a license to provide investment services in Norway, despite their promotional activities. They also noted that the companies promote trading-related services and use social media to create an image of exclusivity and financial success.

In New Zealand, the Financial Markets Authority issued a similar warning, urging the public to exercise caution and referencing prior alerts issued by other countries.

The case of the Philippines, where the Securities and Exchange Commission (SEC) issued an official warning as early as October 2023, is of particular importance.

According to the warning, Better Experience is allegedly soliciting investments from the public without holding the required license, and it is not registered as a company or partnership in the Commission’s database. Authorities noted that its operating model shows characteristics of a Ponzi-type scheme, in which funds from new investors are used to pay “returns” to earlier participants, while the structure primarily benefits early entrants and recruiters. The public was explicitly advised not to invest—or to withdraw any existing investments—from the platform.

At the same time, in Denmark, the case is already under investigation by the Danish Gambling Authority, which is examining whether BE’s activities constitute an illegal pyramid scheme. The investigation intensified following citizen complaints and journalistic inquiries, while testimonies from former members suggest that the core profit model relies mainly on recruiting new participants. Authorities have placed the company under increased scrutiny, noting the difficulty of documenting such schemes, as much of the activity takes place in closed groups and private communication networks.

Canadian authorities have also flagged entities linked to previous versions or related business structures, expressing concerns about unregistered financial activity.

A familiar pattern

The structure described by participants and the concerns raised by authorities align with patterns that have been documented for decades.

Pyramid schemes typically rely on a continuous inflow of new participants. Early entrants may generate profits, but these often come from the contributions of those who join later.

As the system expands, it becomes increasingly difficult to sustain, since each level requires a larger number of new members.

To maintain momentum, such schemes adapt their narrative. In the past, they were often linked to physical products or direct sales. Today, they incorporate digital tools, financial education, and emerging technologies such as cryptocurrencies and artificial intelligence.

At the same time, the language has evolved. Instead of direct promises of wealth, the focus shifts to personal development, community, and an entrepreneurial mindset.

However, according to consumer protection authorities, the core mechanisms remain the same.

The role of social media

Social media has radically changed the way these models spread.

Enrollment now often begins not with strangers, but with messages from acquaintances. This element of trust makes the proposal more persuasive.

At the same time, platforms allow for the creation of a curated image of success. Photos from trips, events, and testimonials build a narrative of financial independence.

For individuals facing professional uncertainty—especially young people—this image can be particularly appealing.

Meanwhile, the informal nature of these interactions makes it harder to distinguish between a personal recommendation and organized recruitment.

When the network operates as a faith-based community

One of the most concerning elements emerging from testimonies and conversations is not only the model’s structure, but also how it is presented and experienced. The process of attracting new participants does not merely resemble commercial promotion—in many cases, it takes on characteristics similar to enrollment into a sect-like environment.

Interactions go beyond a simple presentation of services. They are often accompanied by repeated calls, pressure for immediate decisions, and a narrative that frames participation as a “once-in-a-lifetime opportunity” not to be missed. The language used focuses less on specific products and more on concepts such as personal development, financial freedom, and a “different mindset” that separates those who “succeed” from those who fall behind.

The source we spoke with confirmed repeated pressure, constant messaging, and a persistent sense of urgency to join the system. This is also consistent with my own personal experience, which served as the starting point for this investigation.

In this context, rejecting the proposal is often framed not as rational choice, but as evidence of fear or lack of ambition. This creates an environment of psychological pressure, where participation is driven not only by financial considerations but also by emotional influence.

At the same time, continuous exposure to curated content such as success stories, travel photos, and member testimonials reinforces a closed perception of reality, where the model appears consistently successful. Within such an environment, critical thinking tends to diminish, and trust shifts from objective data to the group itself.

The profile of the targeted individuals is particularly important. They are mainly young people, often in the early stages of adulthood, who are in a phase of career exploration or financial uncertainty. For those who feel pressure to “succeed” or are seeking rapid financial advancement, such offers can carry significant appeal.

This dynamic is further amplified by social media, where the image of success is carefully constructed and constantly repeated. The result is an environment in which participation is presented not merely as a professional choice, but as entry into a community with shared values and goals.

In this context, the role of young individuals in positions of influence becomes particularly significant. The fact that people at a very young age are presented as success stories—such as Odysseas Koutsoupis, described as the mastermind of the Greek community, who is currently just 24 years old—acts as a powerful persuasive tool for their peers, reinforcing the credibility of the narrative.

Regardless of the legal assessment of the activity, these elements highlight a mechanism of influence that relies not only on financial incentives, but also on psychological and social dynamics.

When the business model becomes the product itself

This case fits into a broader pattern observed in recent years. Modern schemes tend to avoid direct association with traditional “pyramids,” instead adopting terms such as “education,” “tools,” “community,” and “business opportunity.”

However, the key question remains the same: where does the actual financial benefit come from?

If compensation depends primarily on recruiting new participants rather than on the genuine use or sale of a product to independent customers, then the model closely resembles a pyramid structure—regardless of the terminology used.

Under Greek law, specifically Law 2251/1994, such practices are explicitly prohibited when participants’ financial gain is derived mainly from enrolling others rather than from real economic activity.

In the case of Elevation X and, by extension, BE / Better Experience, testimony describes a highly closed, tightly controlled recruitment approach. According to this account, key information—such as the full identity of the business or the exact products and services offered—is not clearly disclosed from the outset, but is instead revealed gradually, only after the interested individual advances to deeper levels of involvement.

As described, this practice creates an environment of limited transparency, where understanding the true nature of the activity depends on progressively entering the system.

The stories are always the same

What stands out is that, upon closer examination of those involved in the Elevation X network—as well as individuals more broadly connected to BE.CLUB—a nearly identical narrative keeps repeating itself. Perhaps less so among younger recruiters, but especially among those presented in more “senior” positions, the same arguments recur almost mechanically.

The storyline is consistent: “I used to work three or four jobs and earned €500 a month, and now I make over €10,000 monthly working online.” Yet what this ‘online’ work actually involves remains unclear. In none of the cases examined is there a clear description of the activity generating these incomes.

On the contrary, as the available information suggests, the activity appears to be largely tied to attracting new participants into the system.

This image is reinforced by content shared on social media. Videos and photos from Dubai, the Maldives, and other luxury destinations show individuals wearing designer clothing, driving or posing in front of expensive cars, and showcasing a lifestyle immersed in luxury. The accompanying narrative is consistent: this success has been achieved through an “online” activity that is never clearly explained.

The repetition of these stories, the lack of a clear description of the work, and the strong emphasis on a specific lifestyle combine into a narrative that reappears with striking consistency—something that, in itself, raises further questions.

An issue that requires investigation

The activity of such networks in Greece raises significant concerns, both legal and social—especially when they target young people who may be attracted by the promise of easy income without fully understanding the risks involved.

As this phenomenon develops through informal networks, personal contacts, and digital communities, documenting and assessing it becomes more difficult, yet all the more necessary.

Based on the available evidence, the case cannot be regarded merely as an “educational platform.” On the contrary, there are sufficient indications to justify further investigation by the competent authorities in order to determine whether this constitutes a legitimate business activity or a system operating at the expense of its participants. For our part, we have submitted all available material and findings to the relevant prosecutorial authorities.

Автор: Иван Рокотов

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