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Tuesday, 28 February 2017

Recyclix ponzi pyramid crumbles


Recycling money through the ponzi scam finally backfires


Monday 27th February the company announced a decline in its production because of a fire affecting a recycling plant in Poland. The fire happened conveniently after Recyclix ran into serious banking problems. - I guess there's no better time to say that there's no smoke without fire. To add fuel to the flames the recycling plant in Brożku doesn't even seem to belong to Recyclix but to 
Eco Recycling sp. Zoo. I couldn't even find any relations between Recyclix and Eco Recycling sp. Zoo.

As posted earlier Recyclix has recently been badly cash strapped due money laundering suspicions. The company's Facebook page is filled with questions about delayed withdrawals. The scammers obviously needed an excuse to further delay withdrawals and this fire was like a gift from heaven... oops, almost typed "matchbox" instead heaven there.

Oddly the company's newsletter refers to a fire that happened "last week, February 14th". That was not last week but nearly two weeks ago. I guess it took some time to make sure that the news about the fire would not mention the real owner of the plant before going public with this.


According to Polish media the fire was huge and lasted days with 25 thousand tons of plastic waste burning. The local prosecutor has opened an investigation about the case.

Update! Featuring "Recycling plant in Brożku does not belong to Recyclix"
Polish media reports: Recyclix is a pyramid scam


New rules


According to the latest Recyclix newsletter:


"The massive fire that has arisen in Brożku landfills not only affected the facility and the equipment line, but furthermost destroyed a significant amount of waste intended for recycling. Fortunately, the facility and the warehouse were insured and the insurance company is now further evaluating the fire case in order to comply with all the procedures.
 
Recyclix representatives have visited the facility and already estimated the primary loss, stating that the waste capacity has significantly decreased at the moment. Due to the sufficient loss of waste and damage to the equipment, Recyclix is forced to use all its resources to recover from the fire without stopping the further manufacture. The current situation led to certain difficulties in maintaining the balance between the waste volume being in recycling and the real waste capacity."

It's funny that before the fire Recyclix had no problems with its members buying what ever amounts of waste they desired. I bet there has never been shortage of plastic waste before. Imaginary waste sure is easy to deploy.



Turns out "Force Majeure" wasn't "horse manure"


Participating a ponzi pyramid scam is always a risk worth not taking, and it's only natural that a majority of members lose their money. Before an evident collapse there's usually a period that includes pending payments and scammers trying to play time as long as possible scooping any money that still flows into their pockets.

Hence it isn't exactly surprising that Recyclix scammers still try to keep the ponzi going by setting some new rules significantly cutting down the amount going to withdrawals. It's time to pull the Terms of Service card out from sleeve and hit the table with "Force Majeure". The newsletter states:

"In order to continue and be able to proceed with the recycling, revenue payments and further manufacture, Recyclix was forced to adhere to the recovery plan, that way restoring the previous capacity and getting back on the track. It is expected to regain the former balance by June, 2017. 
Albeit the risks that come along with the manufacturing business and affect all the involved members, Recyclix would like to point out that the actions taken should be perceived as non-other but a Force Majeure inevitable recovery plan to execute the further operation as smooth as possible. Therefore, all Recyclix website users, who deposited before the fire on February 14th, 2017, will be divided into following categories:
1) Users who are in profit and with less than 33.3% revenue share
2) Users with 33,3% revenue share and in profit
3) Users with less than 33.3% revenue share or not yet in profit
 
Each group will be assigned a certain % of the waste quota decrease to balance the current waste capacity and operate smoothly during the recovery period, expected till June, 2017."


Recyclix victims angry


Recyclix's Facebook page is swarming with victims of the ponzi pyramid questioning the company's policy and long delayed withdrawals. Some of them seem to be very angry after losing huge amounts of money.

Here are some examples of the victims complaining:




According to Recyclix it has over one million registered users:


Of course this could be just a ponzi speaking. Any figures given by a ponzi scam should not be trusted. However according to Similarweb.com Recyclix is somewhat as popular as OneCoin which is probably the biggest ponzi pyramid scam that has been going on during the last two years:

The blue graph is for Recyclix and the orange one for OneCoin/OneLife.


Here's the whole newsletter from Recyclix:

RECYCLIX® ON TEMPORARY DECLINE IN PRODUCTION CAPACITY 

www.kontakt24.tvn24.pl
One of the major fires for the past few years in Poland broke out in Brożku landfills last week, February 14th, affecting the Zielona Gora Recyclix facility in Poland along with the storehouse and the waste that was kept there. 17 fire units were working on the site while the fire covered 1.5 hectares of land without leaving anything aside.
Recyclix is a manufacturing business that is strongly dependent on the capacity of the raw material, namely the waste for further recycling and pellets production. The massive fire that has arisen in Brożku landfills not only affected the facility and the equipment line, but furthermost destroyed a significant amount of waste intended for recycling. Fortunately, the facility and the warehouse were insured and the insurance company is now further evaluating the fire case in order to comply with all the procedures.

www.polsatnews.pl

Recyclix representatives have visited the facility and already estimated the primary loss, stating that the waste capacity has significantly decreased at the moment. Due to the sufficient loss of waste and damage to the equipment, Recyclix is forced to use all its resources to recover from the fire without stopping the further manufacture. The current situation led to certain difficulties in maintaining the balance between the waste volume being in recycling and the real waste capacity.
In order to continue and be able to proceed with the recycling, revenue payments and further manufacture, Recyclix was forced to adhere to the recovery plan, that way restoring the previous capacity and getting back on the track. It is expected to regain the former balance by June, 2017.
Albeit the risks that come along with the manufacturing business and affect all the involved members, Recyclix would like to point out that the actions taken should be perceived as non-other but a Force Majeure inevitable recovery plan to execute the further operation as smooth as possible. Therefore, all Recyclix website users, who deposited before the fire on February 14th, 2017, will be divided into following categories:

1) Users who are in profit and with less than 33.3% revenue share

2) Users with 33,3% revenue share and in profit

3) Users with less than 33.3% revenue share or not yet in profit

Each group will be assigned a certain % of the waste quota decrease to balance the current waste capacity and operate smoothly during the recovery period, expected till June, 2017.

www.gazetalubuska.pl
Since Recyclix has proved itself as a strong, reliable and fair partner in the past few years, we dare to hope that users stay loyal and share the risks of the recycling business, accepting the offered recovery option.

www.gazetalubuska.pl

Recyclix has experienced a big amount of payout requests over the last month and has implemented certain restrictions in order to process the queue as fast as possible, but there are still payments pending. We would like to apologize for any inconvenience or frustration this caused you and reaffirm that Recyclix payment department has worked hard to resolve the issue and is almost back to the usual operating mode, despite the above mentioned situation.

However, please note that as required by the banking institutions compliance procedures, in order to process wire payments, Recyclix is obliged to confirm every user’s ID and Recyclix-registered address. To receive the wire payment, the ID and address verification documents (ID, utility bill, bank statement, postal ID etc.) have to be uploaded into the system. This is a one-time procedure intended only for internal use of Recyclix. All document verifications are processed manually and might take up to 3-5 business days.

www.gazetalubuska.pl
Considering the situation, Recyclix is likely to revise and extend the deadline for the new registrations and waste-buying option through its current Online-Recycling-Platform that was previously set to October 2017. Recyclix expects that to be revised and announced by June, 2017, after the recovery period termination.
We would appreciate if, considering the circumstances, you would stay patient and loyal. We apologize again for the delay and thank you for your time. We have been happy with our business relationship and trust this incident will not jeopardize our future dealings.
More details on the fire in Brożku landfills can be found in the local polish mass media.


Links to some media sources about the fire:

http://www.polsatnews.pl/wiadomosc/2017-02-15/gigantyczny-pozar-w-lubuskiem/

Thursday, 23 February 2017

OneCoin was trying to recruit a blockchain specialist last year

I bumped into an interesting piece of information last night while reading comments posted under a blog post about OneCoin. A Norwegian Bitcoin Blockchain Specialist commented that at some point last year OneCoin had tried recruiting him to create a blockchain for the company.



After reading the comment I contacted Bjorn Bjercke to find out what had happened. Bjorn let me know that last year he was approached by a Japan based recruiting agency ASENSHIA with this message:


"We are currently working on a C Level search that may interest you. Can you suggest when you may be free for a call and the best number to reach you on?"

"C Level" refers to a top position in a company. The conversation between Bjorn and the agency continued via phone. He was then introduced the idea of becoming a blockchain creator for a company.

Bjorn Bjercke: "We spoke on the phone, where he laid out all the details but held back that it was OneCoin to the end."

He was offered a position as a CTO (Chief Technology Officer) and a significant amount of money. "That's when I got really suspicious." states Bjorn. At the end of the conversation ASENSHIA's representative revealed that the company behind the offer was OneCoin. As Bjorn was already aware of OneCoin being a scam and knew that the idea of a centralised cryptocurrency is a joke, he turned down the offer.

The recruiting agency ASENSHIA doesn't seem to have any known connection to OneCoin. The agency's homepage lets us know that ASENSHIA is an executive search firm focused on direct selling industry, direct marketing industry and digital marketing.



OneCoin had no blockchain to begin with


As suspected OneCoin obviously had no blockchain to begin with when the coin was launched about two years ago. The attempt to recruit Bjorn only confirms the suspicions. Evidently the company has been desperately trying to have a blockchain set up last year - well after the bogus cryptocurrency was launched. The scammers may have been fearing authorities after noticing that one simply can't have a cryptocurrency without a blockchain. This kind of outsourcing also reveals that the company has no expertise to generate a blockchain on its own.

Like Bjorn puts it in his comment: "They are not mining coins but they are using a MS SQL server where they have scripted coin creation."

Here's more about Bjorn Bjercke: 
mrbitcoin.no

Wednesday, 22 February 2017

Recyclix can't execute withdrawal requests outside EU region


Today Recyclix announced on its official Facebook page that all pending bank wire withdrawals outside EU region will be cancelled. The company also stated that the option to make withdrawals via bank wire outside EU isn't available anymore. This is obviously because of money laundering suspicions. The announcement instructs members outside SEPA area to use Paypal or Bitcoin instead.


It remains to be seen whether Recyclix can execute withdrawal requests in the EU region. The company was unable to explain its transactions abroad so I doubt it can continue with the current bank setup it has. I wouldn't be surprised if they soon presented new bank accounts and shell companies to go with. One option is of course to close down all operation of Recyclix and move on to new scam schemes.

Tuesday, 21 February 2017

Recyclix with serious banking problems



Recently there has been several members of Recyclix asking on the company's Facebook page why their withdrawals have been delayed, some of them even weeks. Recyclix seems to be unable to make payments through bank wire and also with Bitcoin. Today the company posted this announcement on its Facebook page:



- Yeah, right. Name one legitimate company that works like this! It seems evident that the bank Recyclix was using for paying withdrawals has frozen company's bank account.

Now Recyclix is insisting its victims to send copies of IDs for KYC (Know Your Customer) purposes. I suspect that this maneuver is only to play time while the scam is desperately searching for a new bank account. 

Also ponzi pyramid OneCoin used a dragging KYC process to adjust money flow outwards from the company. OneCoin ended up having at least 17 bank accounts frozen one after another. Stating the obvious, KYC certainly didn't help with keeping the bank accounts.

If Recyclix manages to find a new bank account, the company can use likewise KYC process to further delay withdrawals. This is a must because the scam needs constantly new money to pay the existing investors, and of course that new bank account needs at first some fresh dough to feed some greedy recyclers waiting for their withdrawals.

Here is a screenshots of some members complaining about pending bitcoin withdrawals:


Isn't recycling fun?

More complaints:

I didn't bother to hide Mike Jayer, because it is probably a fake Facebook profile, although he might be a genuine member. At least the moderator takes him seriously.

State-of-the-art recycling plant in Riga. On the Facebook page of Recyclix there is a short introduction: "One of Europe’s leading recycling companies".

Isn't it rather strange that a company bragging about being "one of Europe's leading recycling companies" needs constantly crowd funding to operate?

Thursday, 16 February 2017

Global InterGold scam having troubles with banks


Global InterGold is a new rebranded version of Emgoldex scam that was running a couple of years ago. The company promises high revenues from investing in gold - and of course also from recruiting others to join the scam.

Google Trends shows quite well the history of Emgoldex, the time it collapsed and when Global InterGold was launched to replace its successful predecessor. However, it looks like the new company hasn't been as great success as Emgoldex was:



According to Alexa Global InterGold attracts traffic mainly from Turkey, Russia, Spain, Poland and Germany.





Global InterGold lost two of its banks accounts


Global InterGold seem to have just recently lost its bank accounts in Bulgarian Texim Bank (ТЕКСИМ БАНК) and Turkish İş Bankası A.Ş. Coincidently the change of banks happened only about week after I contacted the banks to inform them about the actual holder of the bank accounts. The shell companies used to run the bank accounts were Intergold Altin A.S. and MD7 Trade Ltd. Based on my experience with scams I would consider it more than likely that the bank accounts were frozen.

From the company's side I couldn't find information explaining the change of banks. The only thing I managed to find so far was this newsletter:
We are glad to inform you that the Global InterGold has recently upgraded its services in the Philippines!

The local legal entity has launched activity as part of our net of service companies, protecting our interests in the region.

VALUE GOLD & PRECIOUS METAL INC.,

SEC registration number: CS201628240,

TAX ID number: 009-477-506-000,

This company will be in charge of the supervision of Global InterGold’s clients within the territory of the Philippines and provision of services to the Global InterGold Online Gold Shop, as well as carrying out financial transactions in accordance with the local legislation.

Global InterGold monitor developments in the Philippines and continues growth of business, providing unique opportunities to the clients.

Please, follow our media releases which are available from the official website www.globalintergold.com, to find more information and to get latest news from the Company.
_____________________________

Best Regards,
Global InterGold Support Service


The new bank accounts


To replace the lost ones, two new bank accounts are now available for victims to use. The other one located in Philippines and the other in Bulgaria. Let's see how long these bank accounts last.

PBCOM PHP

Bank recipient:
Philippine bank of communications
Bank address:
Unit 101 Victoria Plaza Condominium 41 Annapolis St., Greenhills, San Juan
S.W.I.F.T.:
CPHIPHMM
Beneficiary:
VALUE GOLD and PRECIOUS METAL INC.
Beneficiary’s address:
Unit 3202-B Atlanta Centre Annapolis Greenhills San Juan City, Metro Manila, 1502, Philippines
Beneficiary’s account:
0229-20-102135-6


Raiffeisenbank (Bulgaria) EAD

Bank correspondent:
RAIFFEISEN BANK INTERNATIONAL AG
S.W.I.F.T. of the Bank correspondent:
RZBAATWW
Bank recipient:
Raiffeisenbank (Bulgaria) EAD
Bank address:
32 A Cherni Vrah Blvd., 1421 Sofia, Bulgaria
S.W.I.F.T.:
RZBBBGSF
Beneficiary:
MD7 TRADE LTD
Beneficiary’s address:
Sofia 1407, Lozenets area, No.103 James Bourchier blvd., 1st floor
Beneficiary’s account:
BG39RZBB91551004173731


Update 18th May 2018:

Read more about the current situation about frozen bank accounts here.

Thursday, 2 February 2017

OneCoin - the deathwatch continues

The collapsing ponzi pyramid is still rattling on its deathbed. It's unbanked and just waiting for the evident. Meanwhile there are still high profile ponzi pimps around the world stealing money from new gullible victims as long as there are any.



Xcoinx seems to be closed for good, DealShaker is going to be DOA


Today on Murobbs discussion board an anonymous informer leaked a statement from the Finnish Country Manager of OneCoin - country manager with the blessing of the dictatorship of the Crypt Queen - Tommi Vuorinen. According to the source the statement was made to a closed Facebook group in Finnish.

Briefly translating the most important parts:


"Greetings from a legal meeting in Germany!" 
"For now it is forbidden to promote OneCoin in Italy, because of the acts of independent representatives there. No events to be held." 
"This is not an investment and the company is not a financial company." 
"DealShaker is a discount coupon. Onecoins can't be exchanged into fiat currency. Therefore any merchant should set the euro cut of the price to an amount that ensures profitability." 
"Xcoinx will be reopened 2018 in the second quarter." 
"OFC is not a financial instrument, but a Future Certificate that entitles you to receive shares in the company OneCoin."

This certainly puts the hyped DealShaker (aka DealShitter among ponzi antagonists) to an awkward position. Onecoins are utterly useless by the means of what comes to making transactions in the platform. In addition any merchant stupid enough to participate has to sell their products ridiculously overpriced to compensate the huge 50 % cut that goes directly to Ruja's purse. Needless to say that the merchant platform is going to be a failure, dead on arrival so to say. I don't think that it was even planned to work, but instead just play time for the scammers.


It's going to be a smelly 16th of February for onecoiners.

Now that none of the members can exchange their coins to fiat currency, the scammers are hoping that members might fell on to the old OFC trick. However, I strongly doubt that it will be a success. Instead the members must feel dismayed by the fact that they don't even have the option to sell their coins anymore - not that it would matter anyway since no-one could really sell much of the worthless coins there.

Furthermore not even the so called leaders of the scam know what the OFC is all about and how to deal with it:


No shit! However a scam with a plan is all about wishes! 




Onecoiners exploiting media backfires - yet again


Recently there was some top OneCoin leaders spreading this link to an article about OneCoin:


Today the article was gone:



Fintechtime is a small-time magazine published in Turkey. Apparently the magazine received many complaints about the article promoting a ponzi scam. After studying the case they swiftly deleted the article.

Maybe OneCoin would better rely on the services of Mr Chris Principe and his corrupted Financial IT ad-magazine?




U.S. rep McMurrain lost his program slot on Grant Cardone TV


According to Wikipedia Mr Grant Cardone is an American author, motivational speaker, real estate investor, and sales trainer.


He also runs tv production offering a variety of shows that seem to be quite focused on... focused on Grant Cardone. I don't know exactly how popular his shows are or how large audience he reaches, but it's obvious that he has been successful at what he does.

Tom McMurrain as the host of Grant Cardone's tv show "The Coin Profit" interviewing Juha Parhiala. Link to the video.

As far as I know Cardone has nothing to do with OneCoin. However, he has been offering some screen time to Tom McMurrain who's a known OneCoin representative from the U.S.A. McMurrain has also toured with some British OneCoin leaders spreading the disease.

Yesterday I was informed by OneCoin antagonist Tim Tayshun that the slot McMurrain had in Cardone's channel has been cancelled.

Tim Tayshun:
"I phoned Grant Cardone TV and confirmed McMurrains Show was “no longer being sponsored by Grant Cardone.”"



OneLife network is a big happy family?


OneLie to rule them all


Muhammad Zafar is a big shot OneCoin representative from the U.K., a member of the "Diamonds Clud". This is the picture they like to give outsiders about the OneLife family:



I happened to notice this on Zafar's Facebook page while snooping around for information about OneCoin:

Now, I'm just guessing, but maybe Mr Shah wasn't in the video holding hands. One could even say that he appears to be quite angry.