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Friday, 15 September 2017

Global InterGold - Bank changes and a scandal in Greece


Global InterGold's banking roulette continues


Global InterGold continues having problems with its bank accounts in Philippines. The most recent change of bank happened about week ago. Now the scammers are using Security Bank instead of EastWest Bank, which they had been using since June 12. The shell company used is still the same, Value Gold and Precious Metal Inc.

Frequent change of banks is an obvious sign of money laundering suspicions and thus frozen bank accounts. Therefore I find it strange that Global InterGold manages to find new banks in Philippines by using the exact same shell company.

What's even more puzzling, Global InterGold has two Bulgarian bank accounts that have been used for quite some time already. However, the holder of the bank accounts has some problems of his own.


The Embezzlement Scandal in Greece


The shell company holding Global InterGold's bank accounts in Bulgaria is MD7 Trade Ltd. According to the company's financial statement from 31 December 2016 the initial capital of MD7 Trade Ltd. was only about 255 euros. - Yeah, that's the company running bank accounts of this global gold business. 

The owner of the company is Mihails Subotins, an Ukrainian businessman who's connected to a scandal in Greece. Mihails Subotins has filed 97.2 million euros lawsuit against owner of Aris BC (Basketball Club), Nikos Laskaris, on March 31 2017. Coincidentally the lawsuit is about online gold trading and embezzlement. What's the whole story behind this is somewhat unclear. 

I managed to find this Greek article which gives some more light to this case. Subotins accuses Laskaris of embezzling 915 pounds of gold and 57 million euros. According to the lawsuit part of those assets were used by Laskaris to acquire shares of Aris BC.

One thing is sure. There's no doubt that those 100 million euros were not used to invest in gold to benefit the members of Global InterGold.


Here's updated list of Global InterGold's present bank accounts and their holders:




SB PHP
Bank recipient:
Security Bank
Bank address:
SBC Building, McArthur Highway, Balibago, Angeles City, Pampanga
SWIFT:
SETCPHMM
Beneficiary:
VALUE GOLD and PRECIOUS METAL INC.
Beneficiary's address:
Unit 3202-B Atlanta Center Annapolis Greenhills San Juan City, Metro Manila, 1502, Philippines
Beneficiary's account:
0000007185379


International Asset Bank
Bank recipient:
International Asset Bank
Bank address:
1303 Sofia, 81-83 Todor Alexandrov Blvd., Bulgaria
SWIFT:
IABGBGSF
Beneficiary:
MD7 TRADE LTD
Beneficiary's address:
Sofia 1407, Lozenets area, No. 103 James Bourchier blvd., 1st floor
Beneficiary's account:
BG55IABG80741400112801



UNITED BULGARIAN BANK
Bank recipient:
UNITED BULGARIAN BANK
Bank address:
5 St. Sofia str., Sofia 1040, Bulgaria
SWIFT:
UBBSBGSF
Beneficiary:
MD7 TRADE LTD
Beneficiary's address:
Sofia 1407, Lozenets area, No. 103 James Bourchier blvd., 1st floor
Beneficiary's account:
BG71UBBS80021450283810

Sunday, 10 September 2017

Bad OneCoin! Now, sit!



Things are not going well for the crumbling ponzi pyramid scheme, let alone the victims of this notorious scam. Not that there ever has been any good news surrounding OneCoin, but the amount of bad news has been accumulating since the late 2016 when the company lost the last ones of its money laundering bank accounts.

During recent months there has been 23 OneCoin reps arrested and charged in India. The trials are still ongoing with 22 of those charged (I don't know what happened one of them).

In Finland police started criminal investigation on OneCoin reps sometime during this year - supposedly before summer. The news about this was released only recently, at the point when the case was already going to be passed on to the prosecutor.

In August Italian AGCM (Antitrust and Consumer Protection Authority) ordered fines of 2.5 million euros to OneCoin because of running a ponzi pyramid scam. It remains to be seen whether or not OneCoin pays the sanctioned sum. Whatever the scammers decide to do, the verdict will remain.

OneCoin itself only gives a cold shrug of shoulders to bad news or publish illogical press releases blaming everything on independent reps. It's funny though that while accusing their reps about wrong doings, the company leaders and key speakers have been cancelling events in India. Of course, OneCoin has also given up Italy and Germany.


While waiting for the inevitable end of its deteriorating scam business, OneCoin can only sit and wait for more bad news to emerge. They just had to awkwardly drop their IPO plans, DealShaker (aka DealShitter) hasn't been much of a boost to the scam, and above all more and more people know about the true nature of the scheme already.


- Hmm, what to explain to the ponzi investors?


OneCoin abandons its Chinese investors


Citing the headline from an article posted Wednesday on BehindMLM:
"OneCoin to exclude Chinese investors from ICO, no refunds?"


The government in China really pulls the rug from under the wobbly feet of the ponzi. This week a committee led by China’s central bank announced an immediate ban on ICO (Initial Coin Offering) funding.


According to Techrun.com:

"The Chinese committee voiced concern that some ICOs are financial scams and pyramid schemes. That echoes a recent warning from Singapore’s MAS."


- Well, well, OneCoin certainly isn't a stranger to Singapore's MAS. It was monitoring the investigation on OneCoin's bank account for money laundering in United Overseas Bank during November 2016.

China was also the very first country to act against OneCoin by arresting ponzi reps during the Spring of 2016... And, wait, I'm just getting this fresh report: 35 Chinese OneCoin affiliates arrested, jailed & fined. Looks like the authorities in China are really trying to kick OneCoin's ass in their region.

The ponzi claims to have most of its members from China. Now that China has banned scams like OneCoin from operating via ICO scheme, there's going to be a lot of members asking questions from their uplines and the company itself. 


However, one thing is certain, there's going to be no refunds by OneCoin. The only thing members can do to try to get their investments back is to file police reports and have bank accounts of scammers frozen before their investment goes through money laundering.



Over 400 visits to my blog by banks, government officials and police


I took a look at the visitor statistics of my blog starting from August 2016 up to this day and found out the following details: 

- Well over 300 visits came from various banks all over the world. 
- Over 100 visits by government officials, police etc. 
That been said there has been over 400 visits by officials investigating these scams featured in my blog, that's roughly one visit every day during the last 12 months. I guess it goes without saying that the most investigated scam by the visitors has been OneCoin.

Friday, 8 September 2017

OneCoin drops IPO plans

People who already knew that OneCoin is a scam have been used to reading news about the ponzi publishing awkward press releases, announcements and postponing pretty much everything. 

However, this latest announcement must hit hard the believers of the ponzi. OneCoin and its reps have been touting the IPO plan over six months already. Now that the company drops the IPO plans without any warning the top scammers have a lot of explaining to do.

Even many of the ones opposing the scam were suspecting that OneCoin might be able to find a shell company to launch a sad little IPO - or at least drag this charade to the bitter end until revealing the failure of the IPO.


"No more IPO"



The awkward news about the IPO failure was not announced by the company itself but via live stream on Muhammad Zafar's Facebook page while he and other Diamond-and-whatnot-misleaders were visiting Sofia.

Muhammad Adeel:
"Well, the biggest news, the biggest changes that there's no more IPO. It's ICO."


Muhammad Zafar tries to explain why this happened:
"Now why the company changed from IPO to ICO. That's what you want to know more. - Because ICO has been popular, and the company can't ignore the fact that the company has to protect the interest of all the leade... (OOPS!) ... all the members." 
- IPO and ICO are two totally different things, so Zafar's explanation is just pure nonsense to distract scam victims believing that everything is alright.

Back in May at the Macau event Ruja Ignatova was strongly urging the members to exchange their coins to OFC's for the IPO:  
"I recommend to you to change as many coins as you can in OFC's."

- If OneCoin was a real cryptocurrency, that would have been totally bizarre suggestion. Furthermore there isn't a stock exchange in the world who would accept a company that has only toy money for its capital. 

But we are talking about a ponzi pyramid scheme, so anything that makes no sense is just what it needs for its fuel. It's all about beliefs, not about facts. Like George Costanza once taught us:



What about the ICO?


OneCoin's ICO (Initial Coin Offering) doesn't go exactly by the books. The company has been selling its coins since the day one so how is an ICO related to all this? I don't think this is how an ICO is supposed to work.

I believe onecoiners consider ICO meaning the day when Xcoinc.com will be reopened and the coin goes "public". I'm still puzzled about the meaning of going public though. Since anyone willing to obtain onecoins has to become a member of OneCoin and go through a KYC-procedure, what's the actual difference to the current situation? Furthermore the sales of the coin will still be limited by the almighty Ruja, so this market is far from being free - and very likely even worse than Xcoinx.com was in the first place.

Strangely - or might I say conveniently - the domain of xcoinx.com is set to expire just before it is supposed to reopen: 



Well, back to Zafar: 
"Dr Ruja or Mr Pierre is not the company, we all are company, we're a community." 
- Actually the members have absolutely no control over anything that happens in OneCoin.