Tuesday, 18 April 2017

Recylix - the plot thickens!

Recyclix released today an announcement titled:

The message starts:

Dear investors of Recyclix,
My name is Yaroslav Mikhalsky and I will serve as the chairman of the new management team of Recyclix and together with my colleagues we will be handling the crisis management program and ensuring that this procedure is performed in an inclusive and efficient way.
As you might have seen it in the latest update post on Facebook, we already announced the approximate dates when provision of compensations to the Recyclix participants will commence. For those users who haven’t had an opportunity to get familiar with the post, I would like to repeat that it’s estimated that the process of provision of compensations would start in June, whilst from now on all news on the progress of the crisis management plan and current events will be published by our team members on Recyclix’s website and its official Facebook page in English.

The writer of the message introduces himself by the name of Yaroslav Mikhalsky as the new chairman of the new management team of Recyclix. He doesn't give any information about his background or reason behind his presence at the current position. Google search of the name doesn't show a thing either. Neither can he be found on LinkedIn.

The previous management team released earlier an announcement declaring that the whole team was leaving the company. The newsletter stated that a crisis team was going to take care of all matters from thereafter. Yeah, right! - Nothing fishy there.

I suspect that Yaroslav Mikhalsky is only a fake personality created to drag this crumbled ponzi pyramid further to give more time for the scammers to organise and execute their exit plans.

After the introduction the message continues:

My colleagues and I believe that transparency and clarity are crucial when it comes to achieving any goal in a big company—especially if it has to do with management of funds—and this is why now I would like to tell you more about the crisis management plan that Recyclix will launch in the nearest future. 
All compensations will be paid through a special crisis management center that will be opened in the short term. Funds for provision of compensations were already partially allocated and as soon as the crisis management center have been opened and our team has finished the thorough fiscal and property audit of the company, the process of the compensation provision will be started. 
For purposes of enhanced transparency an oversight committee consisting of members of Recyclix themselves will be formed. We will be informing you the progress of the crisis management program in the next newsletters as well as on the official Facebook page of Recyclix.

Well, I can help you get started with the transparency part. Recyclix is a ponzi scheme recycling money to feed a pyramid shaped organisation, beneficial mostly to the top part of the structure. According to Polish media the company has a share capital of about 1.000 euro. There's reason to believe that Recyclix has never had any recycling plants - let alone ran plastic recycling business. 

As the ponzi pyramid has evidently collapsed and the company has supposedly its bank accounts frozen, there isn't funds left to execute all withdrawal requests. I strongly doubt that this "crisis team" even aims to fulfil its purpose. All the money is gone and the pyramid ain't recruiting anymore. It's game over.

The plot thickens!

The message contained pretty standard time-playing-ponzi-tactics this far, but then it gets pretty strange - even in ponzi standards:

There’s another important thing that I would like to let you know about in this newsletter as our team has found a couple of strange things about Recyclix following the commencement of the company’s fiscal and property audit. 
You may have heard about the issue with Ruslan Puksto who tried to illegally take over the company by forging the official documents back in January 2017. Unfortunately, it turns out that a similar situation took place once again on March 23 due to unknown reasons, most probably by the way of forging the official documents too, and currently Recyclix is being illegally controlled by a certain Igor Pshenychnyi. You can review the official legal information about the company over here. 
For enhanced safety the funds allocated for provision of compensations were stored in Latvian Citadele bank as well as on the accounts of BEPAY company. However, last week a large payment has been made to a Finnish branch of Nordea bank without consent of BEPAY management board.
This is now like a soap opera of a ponzi scam. These claims go so ridiculous that one can only speculate what's actually behind all this. Maybe the key figures of this scam are trying to backstab some fellow fraudsters?

So this so called recycling company who claims to be "One of Europe’s leading recycling companies" states that a person named Ruslan Puksto tried to illegally take over the business. 

That shouldn't even be possible. - This isn't any Game of Thrones where you could take over a company just like that. And why an earth would someone try to "illegally" take over a company? What would be the purpose of that?

If that turd from the chairman wasn't smelly enough, this bullshit could be smelled miles away: Now the new chairman 
Yaroslav Mikhalsky claims that currently the company is illegally controlled by Igor Pshenychnyi. Well, who appointed Mikhalsky as the new chairman then? Was it Igor? This goes beyond stupidity. Isn't he now illegally the chairman of the company?

The message continues:
Nordea bank has been already contacted about it, but we still haven’t received either definite answers or solutions to this problem. This is why we would like to kindly ask all of you who made payments to Recyclix via BEPAY company to get in touch with Nordea bank using this complaint letter template COMPLAINT LETTER TEMPLATE at Nordea Customer Service and demand for a financial fraud investigation to be carried out. 
Aleksin Kauppahuone OY
IBAN: FI8317453000088965
TEL: Calls from abroad ‎+358 200 70 000 (international call charge)
I can't figure out what's behind this. I would bet on a dispute between the fraudsters or pure backstabbing. 

Aleksin Kauppahuone Oy is registered in Finland starting 07/2009. The company is run by Andrej Zhakalov and Sergejs Vasiljevs:

The message goes on:
And though upon arrival at Recyclix our team was not expecting such difficulties to arise, all necessary documents for the commencement of an official investigation have been already handed over to the law enforcement authorities. A very similar case—an illegal takeover of the company that happened back in January—was solved in a rapid way thanks to the hard work of investigating officers. 
We would like to let you know that these investigations should not affect the estimated dates of the commencement of the compensation provision plan announced earlier, especially if as many of you as possible will contact Nordea bank and ask them to launch an investigation into the unlawful financial transaction from BEPAY company to their bank.
BEPAY Limited is a company registered in England. Recyclix was using the company as an account holder for its bank account in Poland. The sole director of the company was a 1990 born Latvian, Dainis Vasiljevs, until 1st of January 2017 when he resigned from the position. At the same day a Russian, Dmitry Lyamsya, was appointed as a new director for the company. The register information of the company states that Dmitry Lyamsya's country of residence is Finland. (The surname sounds so strange, that I began to wonder if the surname is actually from Finnish origins. Then the correct spelling could be Lämsä.)

The chairman's message ends as follows:
Apart from this, the initial phase of the company’s fiscal and property audit has shown that the previous management board of Recyclix tried to cover embezzlement incidents by some of its members. Our team has already launched a special internal investigation into such facts of misappropriation of funds by the old management team. 
At this point I would like to bring this newsletter to a conclusion and let you know that it will be a pleasure to work with all you in the following months to ensure a seamless process of provision of the corresponding compensations. 
Please make sure to contribute to the efficiency of the compensation provision procedure by contacting Nordea bank using the complaint form above in case you made payments to Recyclix via BEPAY. 
Remember that updates about the progress of the crisis management plan as well as the governmental and internal investigations will be published by our team members via the official Recyclix website and its Facebook page in English. 
Yours sincerely,Recyclix Crisis Management TeamYaroslav Mikhalsky
So the chairman states that the previous management of Recyclix - the very same that appointed the chairman to his position - was guilty in covering up embezzlement incidents. 

For those who have not been following scams before, it's quite common for fraudsters to come up with all kinds of excuses when a pyramid collapses or is about to collapse. They can blame for example hackers, someone embezzled the company, a fire in Brożku, or simply state that some unexpected financial troubles caused the company to go bankrupt.

I would recommend to all Recyclix victims to file a crime report to police. The sooner the better. You can't really do any harm by asking police to investigate the matter. If you are uncertain what country you should file the crime report to, I would recommend your local police. They sure can help you to proceed to the right direction.

Recyclix newsletter 17 April 2017 (the entire newsletter is also quoted in this blog post)

Update 3 May 2017: The website recyclix.com went offline today. Let's see if it's permanent.

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