I try to keep my blog and social media presence positive, however, I recently became aware of a scam floating around LinkedIn, and I wanted to share my experience and hopefully prevent others from falling victim to these scammers.
There is a company currently called AdvisoryCloud. In the past, this company has been known as ExecRanks, TheExecRanks, and AdvisoryCloud.
How the Scam Works
Basically the company (whatever it is called these days) posts ads like the one below on LinkedIn targeting mid level managers for board positions in their local area.
Whether these jobs actually exist at all is something for the local Attorney General to investigate, but customers “apply” for these positions by simply filling out a form with their contact information. Once they do that, you are contacted by a friendly representative from the company who will tell you that you can earn around $30k annually from being on an advisory board, (or get equity).
However, in order to apply, you have to subscribe to their platform and pay a $200 registration fee as well as a non-refundable $195 per month for access to their platform.