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Thursday, 30 March 2017

Recyclix scammers abandon the company



29th March Recyclix released a newsletter titled "RECYCLIX® Q&A SESSION". The scammers certainly don't shy telling the victims what's about to happen:


"In the coming days the current executive board of Recyclix as well as all customer support and all other team members will leave the company, whilst the crisis management program will be launched and carried out from start to finish by a group of professionals with relevant experience who were not associated with the company before."

- The only crisis Recyclix has encountered is the ponzi pyramid running out of money after its Czech bank froze company's account due money laundering suspicions. Instead of telling the truth company representatives have informed that a fire in a Polish recycling plant was the cause of financial problems. However, it has become evident after Polish media exposure that Recyclix doesn't seem to own a single recycling plant.

By explaining that a crisis management group is going to handle things from now on is nothing more than a time playing strategy for the scammers while they prepare living the scene.



Recyclix leaders already about to start a new scam in South America


The newsletter states:
"... the current executive board members will leave Recyclix for a new green project that will serve as a revenue source to solve the issue of pending withdrawals."

- Well, I shouldn't have to explain what this means to the victims of Recyclix, but for those who still don't get it I'll quote George W. Bush:



Despite all the misfortune the company has encountered, it seems that the ponzi leaders haven't lost their sense of humor. There's a hilarious line in the newsletter referring to Recyclix business model as a pyramid scam. I have underlined it here:

"Q: A new project? What about it? 
 
A: With a revised and enhanced business model, our operations will be shifted to South America. Our ultimate goal is to devise a system that constantly generates revenue without the need to attract new users as well as runs and regulates itself without jeopardizing its own integrity. Such system will be backed by a green community that is lead and managed by shareholders or members with voting rights from this very community. More information and details about the new venture will be made public in the near future."



Recyclix closed down


After the pyramid collapsed due frozen bank accounts the scammers have now closed the business and there's no way to deposit money anymore. User accounts show this instead of money transfer options:



The end.


Here's the whole newsletter in case interested:


RECYCLIX® Q&A SESSION 
Answering Important Questions on Current Events and Future Developments
Over the past couple of weeks, which were spent on working towards a sensible and efficient solution to the obstacles Recyclix encountered, we received an array of questions about the current events and further developments in our company via our social media and customer support services. 
That is why we picked out the most frequent of them and decided to provide transparent and clear answers to those issues that are most important to you in this special Q&A session. 

Question: What is currently happening with Recyclix? 
Answer: Following a streak of unfortunate events that Recyclix was recently challenged with, we came across a display of mala fide behaviour and attitudes on behalf of some of our partners who decided to take advantage of the company’s unstable situation and failed to meet their obligations. All of this led to an unexpected lack of working assets and funds at Recyclix’s disposal. 

Q: How is the company going to handle it and what will happen with my investment? 
A: A special crisis management program that will handle provision of the corresponding compensations to the users—about which we are going to tell you more below—will be implemented in the soonest possible time. 

Q: What will happen with Recyclix as soon as the crisis management program has been successfully completed? 
A: In the coming days the current executive board of Recyclix as well as all customer support and all other team members will leave the company, whilst the crisis management program will be launched and carried out from start to finish by a group of professionals with relevant experience who were not associated with the company before. 

Q: What was the reason for such a sudden and drastic change in the company’s functioning? 
A: Regretfully, a sequence of unfavorable proceedings beyond anyone’s control that we were faced with led to a plunge in the company’s reputation, reaffirming the need for establishing a different and more pliant structure and business model. Following these events the concept of the company was reconsidered and a new business model meant to ensure a long-standing functioning of green and renewable energy projects was masterminded. This is why it was decided that after handing the reins over to the experts in crisis management, the current executive board members will leave Recyclix for a new green project that will serve as a revenue source to solve the issue of pending withdrawals. 

Q: A new project? What about it? 
A: With a revised and enhanced business model, our operations will be shifted to South America. Our ultimate goal is to devise a system that constantly generates revenue without the need to attract new users as well as runs and regulates itself without jeopardizing its own integrity. Such system will be backed by a green community that is lead and managed by shareholders or members with voting rights from this very community. More information and details about the new venture will be made public in the near future. 

Q: Earlier you mentioned the crisis management program. Can you tell me more about it? 
A: In the coming days the new management board of Recyclix will form a special crisis management pool and make certain changes in the company’s production workflows in order to ensure a smooth process of handling compensations for users. 

Q: What exactly the crisis management program will feature? 
A: The newly developed crisis management program consists of four steps. Firstly, experts from the new executive board of Recyclix will host a public webinar sharing details about the company’s current financial activities and revealing a schedule of the oncoming compensations. Secondly, an online crisis management center for settlement of payments will be opened. Thirdly, a thorough audit of the company’s assets and funds will be carried out. Fourthly, a special crisis management pool will be formed in order to commence the procedure of providing user compensations. Apart from this, to make sure that this process takes place in a transparent and seamless way, additional strategically important administrative units—an internal committee of fiscal and property audit as well as a committee for establishing a crisis management pool—will be formed. 
Yours sincerely, Recyclix

Saturday, 18 March 2017

Recyclix scammers packing their bags already?



Recyclix has resigned from the upcoming PRS (Plastics Recycling Show) Europe event in which the ponzi pyramid was supposed to attend on March 29th – 30th. Google webcache still showed that the company was listed on exhibitor list with reservation for stand D38. The capture of the web page was from 13th March 2017. Current list of exhibitors hasn't got Recyclix anymore on it. Thus the company has resigned from the event.

This could indicate that the scam is very close to closure. There are already herds of members complaining on Facebook pages about pending withdrawals.

Participating in events as an exhibitor has been a clever and relatively cheap way for Recyclix to build up credibility as a seemingly legitimate company. In addition the scammers have organised open days in some recycling plants to mask the scam as a genuine recycling company. This has led members not question anything - let alone high and steady incomes - which has made it possible for Recyclix to run until now.

The next step might be police investigations after members file criminal reports. As the company is located in Poland, at least some of the members might even get some of their money back. It all depends on how much money was stuck in the frozen bank accounts and how much authorities can confiscate assets.

Monday, 13 March 2017

Cash strapped OneCoin pleads for patience

The cash strapped ponzi pyramid pleads for patience from its victims:



The announcement declares payout delays due an increase in transactions. How could that be? Xcoinx.com has been closed down since January so no-one has been able to sell their coins. DealShaker platform hasn't got much transactions because it's extremely far from being "extremely successful".

What comes to the imaginary blockchain, OneCoin has been boasting how their blockchain is capable of handling far more transactions than credit card providers:


"The new OneCoin blockchain is very powerful, being able to process more transactions than credit card providers. It runs every minute, which makes it the choice for merchants because it stores users' KYC documents - setting a new standard in the cryptocurrency industry." 
Source: https://www.onecoin.eu/en/blockchain


So what are these "payout delays" then?


The merchant platform doesn't cause much transactions so there should be no problems there. Furthermore it should only serve as a surplus for OneCoin as the Queen of the Crypt takes a hefty cut of each deal. So it certainly doesn't cause a dent on Ruja's wallet.

The only thing left is commissions. This could mean that banks - the rare ones that still were offering their services to OneCoin or its shell companies - are refusing to transfer those payouts and scammers don't get their dough anymore. No wonder there has been a lot of upliners leaving the sinking ship recently.

Wednesday, 8 March 2017

OneCoin - ponzi news of March



OneCoin released today its "Official response" to the news about the ponzi trying to hire a blockchain specialist. The company is of course denying everything and claims to have already launched "legal measures". Well, there's no possible legal measures for OneCoin to grab on so this is pure ponzi bullshit they are shoveling to reassure victims of the scam.



OFFICIAL RESPONSE TO RECENT PUBLICATIONS REGARDING ONECOIN BLOCKCHAIN
08/03/2017

Dear Members,

In relation to recent online publications regarding Onecoin and its blockchain, we would like to reassure you that the published information contains entirely false and misleading statements. We consider such actions as unfair competition and purposeful defamation, aimed to hamper the business development and prevent the growth of a strong cryptocurrency, such as OneCoin. 
Please be kindly informed that the Company has never offered a position to this person, and he has never been asked to "build" a blockchain for Onecoin. Therefore any claims related to offers and salaries are totally false and untrue. Please note that all necessary legal measures to protect our members' and OneCoin users' interests have already been undertaken.

A blockchain specialist would had been exactly what OneCoin needed to actually have a cryptocurrency in the first place. It has been evident since the beginning of OneCoin that there has been no blockchain and no cryptocurrency.




Autopsy of an imaginary cryptocurrency


This blog "OneCoin OneLife Facts" examines very thoroughly all possible data that OneCoin has published about its imaginary cryptocurrency.

Recently the blogger discovered that all transaction history in OneCoin's Cash and Trading Accounts has been erased (except for the last 30 days). - Maybe Ruja needed some more space in her laptop?

The latest post on OneCoin OneLife Facts blog investigates the auditing process of onecoin and the two auditing companies OneCoin has used. It goes without saying that auditing a non existent cryptocurrency leads to some very embarrassing audit reports that have next to nothing to do with real auditing. The auditors deliver some unforgettable gems like this: 


"Our tests are performed on the data provided to us by One Network Services Ltd. We accept this data as correct and we hold no responsibility concerning the data correctness. Our engagement is based only on the data provided by the Client and n third party sources are used."

After the first auditing firm, Semper Fortis, noticed the stinky turd they had in their hands, the company's website went offline. It took some time before somebody managed to find the new website address of the company. Apparently the whole incident was so embarrassing for Semper Fortis that they decided to remove the auditor Dian Dimitrov from the Key Management Team where he still was visible prior being the auditor of OneCoin. Dian Dimitrov's profile on Linkedin still refers to his Managing Partner position at Semper Fortis.



Tuesday, 7 March 2017

Polish media reports: Recyclix is a pyramid scam




According to Polish Newsweek, Recyclix is a pyramid scam. It seems evident that the company hasn't used any money at all - or only an insignificant part of it - into actual recycling business. Thus the company is a ponzi pyramid only interested in recycling money, and most of it has been recycled through laundering process to the peak of the pyramid.


- Just a screencapture. If you wish to see the video, it's here.


Polish Newsweek reports that Recyclix is ​​a limited liability company with one shareholder - a citizen of Latvia. Its share capital amounts to only about 1000 euro. That sure doesn't sound like "One of Europe’s leading recycling companies" like Recyclix describes itself on its official Facebook page.

Recyclix pyramid started to crumble in January after it got problems with money laundering suspicions.

In the Newsweek's article the president of the Polish Chamber of Waste Management condemns Recyclix to be a financial pyramid (translation from Polish by Google Translate):

We do not know of such an entity in the industry. Only seen them trivial movies on YouTube. If you deal with recycling, which I doubt, it is certainly not on the scale of the declared - quoted by the newspaper said Dariusz Matlak, president of the Polish Chamber of Waste Management. In his opinion, the company's operations at first glance resembles a financial pyramid.

Polish Newsweek lets us also know about the current situation Recyclix has in Italy, where the scam has been investigated by Italian authorities (translation from Polish by Google Translate):

Activity Recyclix in the summer of last year examined the Commissione Nazionale per le Societa e la Borsa (CONSOB). Italian counterpart KNF said that the Polish company operates as a pyramid scheme, which is contrary to the law. In the virtual garbage invested approx. 40 thousand. Italians. 
For several weeks, the company is also looking at Recyclix Financial Supervision Commission."The Commission recognizes the evidence that could indicate a possible violation of law," reads the official statement. According to the DGP at stake the same article as in the case of Amber Gold, that objection of art. 171 banking law. It states that you can not without the permission conduct the business of collecting funds from other people while burdening their risk of losing money. For this type of activity threatens up to 5 years in prison.

Recycling plant in Brożku does not belong to Recyclix


As I suspected the Polish recycling plant in Brożku that had a huge fire in February does not belong to Recyclix. Recyclix has been lying to its members that the plant was one of theirs and therefore the company had to reduce out going money flow due the fire that destroyed a huge stock of recyclable plastic. However those two companies have no formal relations whatsoever. Polish Gazeta Prawna confirms my suspicions (translated by Google Translate):
Why Recyclix took people paid money? As he explains, is the effect of fire of 14 February. in Brożku (Lubuskie), as a result of which burned one of their landfills. Speaking so vividly, as the smoke went waste company, just as the smoke went investors' money. The thing is that indicated by the company dump, which burned down, did to her was not.
- The owner of the landfill is Deko-process sp. Z oo - informs us Zbigniew Fąfera, Prosecutor's Office in Zielona Gora. This entity, at least formally, is in no way connected with Recycliksem.
The lie about the plant's ownership surely makes one wonder about the fire. - Mighty coincidental I might say.


Recyclix silent


Recyclix seem to have chosen North Korean way of handling the case by deleting all comments on its Facebook page regarding the recent news. Word of advice to the scammers: It's too late.

The company was not eager to comment to the media either. Gazeta Prawna tried to contact the company:
We wanted to speak to a representative Recycliksu. Our questions sent by e-mail, but no one answered, and the telephone was received by Ms speaks with a distinctly eastern accent, which at the request of the reply said only: "dobzie, I'll try."

More in Polish media:


Polish Newsweek (the very article referred in this blog post):
https://tinyurl.com/h83dnfx

BIZ.pl:

https://tinyurl.com/ja5ly5z 

Gazeta Prawna:
http://biznes.gazetaprawna.pl/artykuly/1024693,recyclix-ekologiczny-parabiznes-pod-lupa-knf.html

Check out the latest post 30 March 2017:

Recyclix Scammers Abandon the Company

Monday, 6 March 2017

Global InterGold's frozen bank accounts - updated 12 June 2017


Global InterGold lost its Bulgarian bank account in Raiffeisen Bank International AG 


The holder of the bank account was a shell company MD7 Trade Ltd. The bank account details were published in the middle of February so I would presume that the account was frozen within two weeks.

After losing the account it certainly didn't take long after Global InterGold published a new one, as the scam released today an announcement about new bank account details. However it's surprising that they stick to use Bulgarian banks. For the best of my knowledge this is already the third bank in Bulgaria for them, and what's even more puzzling the ponzi still uses the same shell company as the account holder.

Here are the new bank account details Global InterGold has provided to its victims:


UNITED BULGARIAN BANK
Bank recipient:
UNITED BULGARIAN BANK
Bank address:
5 St. Sofia str., Sofia 1040, Bulgaria
S.W.I.F.T.:
UBBSBGSF
Beneficiary:
MD7 TRADE LTD
Beneficiary’s address:
Sofia 1407, Lozenets area, No.103 James Bourchier blvd., 1st floor
Beneficiary’s account:
BG71UBBS80021450283810


The scam has also a bank account in Philippines where they use Philippine Bank of Communications. The shell company running the account is Value Gold and Precious Metal Inc. I suspect that regulators in Philippines will sooner or later freeze the account, rather sooner.



Update March 20, 2017:



United Bulgarian Bank account frozen?


I believe it's likely that the just recently announced bank account in United Bulgarian Bank has already been frozen. During the last weekend Global InterGold has added a new bank account to be used. Although the bank account for United Bulgarian Bank is still visible in the bank account details section in user accounts, it has been dropped under two other bank accounts that are most likely primarily used. They updated the bank account details section in similar way when Raiffeisen bank was about to be dropped.




Global InterGold still tries to use a bank in Bulgaria and they are even relying on the same shell company, MD7 Trade Ltd. The bank they have the account in is International Asset Bank. As the regulator is well aware of Global InterGold's presence in Bulgaria, I don't expect that bank account to last long.



Update March 27, 2017:



Global InterGold lost its Philippine bank account

Bulgarian Bank accounts still remain on their list


Philippine Bank of Communications has evidently frozen the bank account Global InterGold had there via its shell company. The scammers however stubbornly stick to their old tactics and have chosen another Philippine bank to run their ponzi business. They are even using the same shell company as before, Value Gold and Precious Metal Inc. The new bank is EastWest Bank.

Here are the bank account details provided by Global InterGold:

Bank recipient:EastWest Bank
Bank address:6795 AYALA AVENUE CORNER, V.A., RUFINO ST., SALCEDO VILL., MAKATI, Manila
S.W.I.F.T.:EWBCPHMM
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:200022813942

The Bulgarian bank accounts still remain on the company's list of available bank accounts. However, I suspect not for long.



Update May 18, 2017:



Global InterGold lost yet another Philippine bank account

Bulgarian Bank accounts still remain on their list


Global InterGold has just recently again changed its bank details in Philippines. Instead of the previous account in EastWest Bank the scam is now directing its money flow to Bank Philippine Islands. This is already the third bank they are trying their luck with in Philippines.


Here are the new bank account details provided by Global InterGold:


Bank recipient:BANK PHILIPPINE ISLANDS
Bank address:AYALA AVENUE, CORNER PASEO DE, MANILA
S.W.I.F.T.:BOPIPHMM
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:8731-0039-05

Global InterGold's continual problems with Philippine banks is likely due the familiarity of the scam to the local Securities and Exchange Commission:
http://www.sec.gov.ph/tag/emgoldex-philippines/
Therefore it's rather strange that the scammers stubbornly try to nest they money laundering there.



Update June 12, 2017:


Now the bank details of Bank Philippine Islands are gone. Instead there are bank account details of EastWest Bank, which are precisely the same as before 18th of May 2017. 

It is of course possible that Global InterGold managed to feed the bank with some misinformation, convincing that their shell company VALUE GOLD and PRECIOUS METAL INC. has nothing to do with the ponzi scam. 

In addition the Bulgarian bank accounts seem to be still available. If the accounts actually are active, I'm surprised that the banks have not taken any action yet.

What ever the case might be with those Bulgarian banks, according to my blog statistics Global InterGold related banking efforts seem to arouse attention of other banks not mentioned in this blog post.

Thursday, 2 March 2017

OneCoin's DealShaker would be better called DealShitter


16th of February was the day OneCoin finally launched the highly anticipated DealShaker platform. A platform for individuals and business owners to sell their products and services using onecoins and optional euros for transactions.

During the first two weeks her dictatorship only charged 25 % of the cash part of any deal made. - Wow, so much generosity! After March 1st 50 % of all cash goes directly to Ruja's purse. This is only fair, because it's a ponzi.

The terms and Conditions of DealShaker state:
"Regular Advertising Fee is calculated based on the Cash Value of the Promotional Deal Offering Price. Until March 1, 2017 the adv. Fee will equal 25% of the cash value.
Featured Deals Advertising Fee is calculated based on the Cash Value of the Pormotional Deal Offering Price and will equal 50% of the cash value of the redeemed Deal Coupon Price.
Featured Deals Advertising Fee will require that the Cash Value of Promotional Deal Offering Coupon Price constitutes at least 20% of the Deal Coupon Price."




Shitty deals


I have been following the new market place during these two weeks and it turned out to be pretty much what was expected among critics of OneCoin scam. The platform offers mainly insanely overpriced products from all over the world, including bedspreads, bedspreads, bedspreads, self help crap, wedding planning from China, kitsch and a lot of other junk.

There are also some seemingly high quality products like this Louis Vuitton handbag. According to the merchant's address these handbags are sold from a Chinese village.




Who's responsible for a shitty deal?


As OneCoin takes no responsibility on the deals done, I can't imagine who on earth would be willing to use cash for purchasing anything from DealShaker.

DealShaker's Terms and Conditions:

"In addition Merchants agree that the Company is only acting as a passive conduit for Merchants’ online distribution and publication of their content. The Company is not responsible for any public display or misuse of any Merchants’ content.

Refunds and Complaints
 
If a Merchant has not managed to provide the described and promised service or product, and there is a sufficient evidence provided by the buyer/user/client - the client may be fully or partially refunded. 
DealShaker can be in control of the communication between the Merchant and the Buyer 
DealShaker doesn’t assume responsibility on behalf of the merchant for the provided service or product"

A disappointed customer from England communicating with a Chinese handbag salesman through DealShaker. That should be interesting... Or not since "can" doesn't really promise anything, and as said "DealShaker doesn't assume responsibility".


The purchase process


As stated on DealShaker's Terms and Conditions:


The process will flow as thus 
Be automated  
Via OneLife Cash and OneCoin Account  
Users have to sign off the purchase order with their unique Transaction password. Transaction Password can be set through the OneLife BackOffice. Only user knows his/her Transaction Password. 
No limitation as to how many coupons can be purchased from the deal 
Users can shop coupons for only 1 deal at a time, e.g. there is no shopping card at the moment 
Credit Card payments are not yet available 
Debiting the Cash account of the user will be visible in the OneLife BackOffice. In the dealShaker user profile, users will only be able to track their OneLife and Cash Balances
OneCoin is unbanked and thus bank wire transactions aren't possible. The company can't even offer credit card payment, so shopping at DealShaker has been done really hard and it's also burdened with trust issues between merchants and customers.

OneCoin has had a lot of time preparing the platform. Despite having all the time and money the merchant platform is just awful. There has been a lot of mysteriously disappearing ads. Filtering products works miserably which makes the whole shop a big and unattractive mess. In addition, prices being ridiculously high I doubt that there's been much deals executed. Most of the deals require "self organized shipping" or redeeming at location.

"There is an up to 4 weeks period for approval and processing your withdrawal request for the DealShaker cash proceedings from your OneLife Backoffice."
- Lol.


Three million members, 100.000 of them giving a shit?


OneCoin claims to have nearly 3 million members. Nevertheless the merchant platform has only aroused the attention of a bit above 100.000 members. So far the counter on the web page claims that there are 14.200 registered businesses:



After two weeks has passed it's hard to believe that the humongous majority of OneCoin's self-declared nearly 3 million members have not shown any interest towards the merchant platform. I would suspect that the real headcount of the members is close to the figure on DealShaker's ticker.