tag:blogger.com,1999:blog-47796208865494532922024-03-16T20:53:16.491+02:00Scam DetectorProviding valuable information about scams to authorities, banks, police and victims of scams since 2016.Ari Widellhttp://www.blogger.com/profile/08889226197358610337noreply@blogger.comBlogger188125tag:blogger.com,1999:blog-4779620886549453292.post-43379924835403222712022-03-02T08:00:00.008+02:002022-03-05T01:21:32.886+02:00Putin's Russia is a scam<div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/a/AVvXsEgpxDn5F8N9168uSXsKLCHWCBbe7AUZNX8T_-DYoZZ5fbMRmNCuS8j2U5_xsPVpE_yoFAiOJ-9HmNrvOGpJIEoO4WST0jgKWbhgdD169F-ijfzZgwDHpFGn79iOB9ZRBu25EENunYtHxoAwYH5WAbv9HWYgdjei7UVlfjC3DLqtZHGkpdDxLo9MiiE=s640" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="427" data-original-width="640" height="214" src="https://blogger.googleusercontent.com/img/a/AVvXsEgpxDn5F8N9168uSXsKLCHWCBbe7AUZNX8T_-DYoZZ5fbMRmNCuS8j2U5_xsPVpE_yoFAiOJ-9HmNrvOGpJIEoO4WST0jgKWbhgdD169F-ijfzZgwDHpFGn79iOB9ZRBu25EENunYtHxoAwYH5WAbv9HWYgdjei7UVlfjC3DLqtZHGkpdDxLo9MiiE=s320" width="320" /></a></div><br /><div class="separator" style="clear: both; text-align: center;"><br /></div><p>I never thought that I would be writing about something like this on my blog. I mean I blog about scams – pyramid scams, ponzi scams and their hybrids known as ponzi pyramid scams. However, Putin has scammed entire nation to invade another country, killing innocent people including women and children in the process so I think that certainly needs to be talked about. In a way this might be the biggest scam ever.</p><p>It's not news that his actions have been criticized in the western world for quite some time, running his regime like a dictator and accused of having opposing politics silenced or even killed, thus making sure there isn't much opposition threatening his throne. Meanwhile in the western world there hasn't been much except harsh words against Putin's actions. <i>Russia is Russia.</i></p><p>However, a week ago everything changed – and I mean everything. On February 24 Russia commenced a full-scale military attack on Ukraine. </p><p>Russia had already build up a lot of tension by surrounding the borders of Ukraine with massive forces during 2021 and continuing to do so up until the attack. I remember joking to my friends during the Winter Olympics that Putin was likely to attack Ukraine as soon as the Olympic games were finished. Little did I know that it was a pretty accurate prediction.</p><p>In order to justify his actions Putin claimed – and I quote:</p><p>"The purpose of this operation is to protect people who, for eight years now, have been facing humiliation and genocide perpetrated by the Kiev regime. To this end, we will seek to demilitarise and denazify Ukraine, as well as bring to trial those who perpetrated numerous bloody crimes against civilians, including against citizens of the Russian Federation."</p><p>Thus Putin actually claims that the president of Ukraine Volodymyr Zelenskyy is a nazi despite being Jewish. In addition to calling Ukraine's government neo-nazis he has also been claiming that they are drug addicts. I'm surprised he didn't claim that they are also reptilians.</p><p>What comes to the alleged genocide perpetrated by the Kiev regime there's no proof of that either. Instead there has been evidence of Ukrainian Russians giving their support to Ukraine. There are also Russian political refugees living in Ukraine. Looks like Ukraine is a lot safer place for Russians than Russia.</p><p>Oh, and what comes to refugees <a href="https://news.un.org/en/story/2022/03/1113002" target="_blank">UN has reported</a> about well over 600k refugees fled Ukraine in under a week, since Russia’s military offensive began. I believe most of them have been heading to EU region. I haven't heard Russia reporting about any refugees from Ukraine.</p><p>While accusing Ukrainians of genocide Putin is already responsible of well over 500 civilian casualties, 136 civilians killed, including 13 children, and sadly there's more to come.</p><p>In Russia there has been allegedly well over 1000 peaceful anti-war protesters detained and all criticism towards the war is banned. Actually even the word war is banned and the war in Ukraine must be referred as "special operation".</p><p><br /></p><h3 style="text-align: left;">Putin leading Russia into isolation</h3><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/a/AVvXsEhkOqiKzPv7o5bPeueTAGlrp9kg7ZxenqV__c2vPh9tEwEpiCeEAwRlNnsoFJHeipIvuXdg9CrBo0CzA_w4Y-C7ghAduaGdGxe9xmNsVc8JCb40ax7Z8uZCjuddeeIhiqV0RB6u0FVUTj2Dlv1ngbRoQJ7-d1y6hBrmSbVk2PXkbvrqNmAqQ3TwVDg=s800" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="475" data-original-width="800" height="190" src="https://blogger.googleusercontent.com/img/a/AVvXsEhkOqiKzPv7o5bPeueTAGlrp9kg7ZxenqV__c2vPh9tEwEpiCeEAwRlNnsoFJHeipIvuXdg9CrBo0CzA_w4Y-C7ghAduaGdGxe9xmNsVc8JCb40ax7Z8uZCjuddeeIhiqV0RB6u0FVUTj2Dlv1ngbRoQJ7-d1y6hBrmSbVk2PXkbvrqNmAqQ3TwVDg=s320" width="320" /></a></div><p><br /></p><p>Putin aka Putler is obviously absolutely deranged and dangerous. He has now proven that what happened in Nazi Germany back in 30's and 40's can happen again and in a way is happening again. </p><p>Russian news outlets have been tightly orchestrated to echo whatever Putin wants. According to Russian media there is no war but a "special operation" going on. It has been speculated that the most of Russians don't even know what actually is happening in Ukraine because of Putin's propaganda machinery.</p><p>The world has united in a way never seen before to fight against Putin's aggression by setting international sanctions. However, so far Putin's propaganda might have succeeded to make people think that the economical sanctions against Russia are a sort of economical attack by NATO members lead by the evil U.S.</p><p>There has been no country threatening Russia with a military intervention. However, Putin has been threatening the world with his nukes. He has also been threatening Finland and Russia not to join NATO. Ironically this nutcase has only managed to initiate discussions here about a swift NATO membership.</p><p><br /></p><h3 style="text-align: left;">He-Who-Must-Not-Be-Named</h3><p>Putin-mort must had been expecting a quick victory over Ukraine. Russians have a massive army whereas Ukraine has been in the midst of developing their armed forces. The current president is a former comedian which must be a joke to a former KGB agent. What Putin didn't expect was that Ukrainians and their president have balls, unlike him. </p><p>Whatever happens in Ukraine Putin has already lost the war and Russia is on its way towards becoming a new North Korea. However it seems that there's nothing stopping Putin until the people of Russia are the ones who act.</p><p><br /></p><table align="center" cellpadding="0" cellspacing="0" class="tr-caption-container" style="margin-left: auto; margin-right: auto;"><tbody><tr><td style="text-align: center;"><a href="https://blogger.googleusercontent.com/img/a/AVvXsEgnrc5ocXlJPRZlFQRSGdH6bvdndYQymoQuctFt3yXnL1oyRtoGnnDKB6HpavyWlNbdxnlTgdqAYK4vcKmcyCt3pfbwJng-gJ6o8cUBSH7VLqdbuEh4wVCgksBPKzdx3t-2C5CzxqsbOeWO1-utEs4ruWGqL_S322OViFmkOUbV-IXxg6HOp-oWo2k=s400" style="margin-left: auto; margin-right: auto;"><img border="0" data-original-height="225" data-original-width="400" height="180" src="https://blogger.googleusercontent.com/img/a/AVvXsEgnrc5ocXlJPRZlFQRSGdH6bvdndYQymoQuctFt3yXnL1oyRtoGnnDKB6HpavyWlNbdxnlTgdqAYK4vcKmcyCt3pfbwJng-gJ6o8cUBSH7VLqdbuEh4wVCgksBPKzdx3t-2C5CzxqsbOeWO1-utEs4ruWGqL_S322OViFmkOUbV-IXxg6HOp-oWo2k=s320" width="320" /></a></td></tr><tr><td class="tr-caption" style="text-align: center;">Yes, Putin went full retard.</td></tr></tbody></table><br /><p><br /></p>Ari Widellhttp://www.blogger.com/profile/08889226197358610337noreply@blogger.com0tag:blogger.com,1999:blog-4779620886549453292.post-15631208011056298902021-09-28T18:43:00.007+03:002021-09-28T19:41:13.329+03:00Tuohivirta – Kari Wahlroos launches a scam of his own<p> </p><div class="separator" style="clear: both; text-align: center;"><a href="https://1.bp.blogspot.com/-yOtOjaFR8ic/YVMEpdMAcxI/AAAAAAAADqg/EAFy_oqpVI46ipetbl5d-KKbxc_HX91ygCNcBGAsYHQ/s506/tuohivirta_scam_logo.jpg" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="473" data-original-width="506" height="299" src="https://1.bp.blogspot.com/-yOtOjaFR8ic/YVMEpdMAcxI/AAAAAAAADqg/EAFy_oqpVI46ipetbl5d-KKbxc_HX91ygCNcBGAsYHQ/s320/tuohivirta_scam_logo.jpg" width="320" /></a></div><br /><p></p><p>The former "ambassador" of OneCoin, Kari Wahlroos, has finally decided to launch a scam of his own called Tuohivirta. The Finnish name could be translated in English as something like "Stream of Money". According to Tuohivirta website "Tuohivirta Corporation owns several mine reservation areas in Finland from the greenstone belt in central Lapland. The company's goal is to develop them into one of Finland's key precious metal mining projects."</p><p>However, Tuohivirta got a rocky start after Finnish broadcasting company YLE took Tuohivirta under a heavy scrutiny and investigated the bogus claims made on the scheme's freshly published website in August. As it turned out Tuohivirta claimed that they were going to start mining business in Sodankylä Finland mining gold, palladium and other valuable minerals worth about 20 billion euros. After YLE published an article titled <a href="https://yle.fi/uutiset/3-12078351" target="_blank">"A Finn enriched with OneCoin scam lures people to invest in gold mine – GTK expert: "I hope people don't fall for this""</a> revealing all the lies and misleading information given by Tuohivirta the scam swiftly removed the bogus information from the webpage. The earlier version of the website had also "Ambassadors" section which presented two ambassadors. Another one of those two was Simon Le who was a known OneCoin promoter.</p><p><br /></p><table align="center" cellpadding="0" cellspacing="0" class="tr-caption-container" style="margin-left: auto; margin-right: auto;"><tbody><tr><td style="text-align: center;"><a href="https://1.bp.blogspot.com/-oG3btdmSTH0/YVNEVxxTcQI/AAAAAAAADrQ/vbOTqFOATDYesHSGkLfjoEtoMBMaQioMgCNcBGAsYHQ/s1062/ambassadors.jpg" imageanchor="1" style="margin-left: auto; margin-right: auto;"><img border="0" data-original-height="829" data-original-width="1062" height="250" src="https://1.bp.blogspot.com/-oG3btdmSTH0/YVNEVxxTcQI/AAAAAAAADrQ/vbOTqFOATDYesHSGkLfjoEtoMBMaQioMgCNcBGAsYHQ/s320/ambassadors.jpg" width="320" /></a></td></tr><tr><td class="tr-caption" style="text-align: center;">Tuohivirta ambassadors. (Click to enlarge)</td></tr></tbody></table><p><br /></p><p>Despite having a bad start Tuohivirta continued by an announcement about a press conference Wahlroos was going to keep during a mining industry forum held by The Finnish Mining Entrepreneurs Association in September. The press conference was also live streamed so I was able to watch the whole thing online.</p><p><br /></p><table align="center" cellpadding="0" cellspacing="0" class="tr-caption-container" style="margin-left: auto; margin-right: auto;"><tbody><tr><td style="text-align: center;"><a href="https://1.bp.blogspot.com/-l7llfa_LCQc/YVMcAktlyWI/AAAAAAAADqo/3a_H6dkdVwUIvHUdrqjmquEqprk8XGxbgCNcBGAsYHQ/s554/press_conference.jpg" style="margin-left: auto; margin-right: auto;"><img border="0" data-original-height="554" data-original-width="509" height="320" src="https://1.bp.blogspot.com/-l7llfa_LCQc/YVMcAktlyWI/AAAAAAAADqo/3a_H6dkdVwUIvHUdrqjmquEqprk8XGxbgCNcBGAsYHQ/s320/press_conference.jpg" width="294" /></a></td></tr><tr><td class="tr-caption" style="text-align: center;">An invitation to the press conference.</td></tr></tbody></table><p><br /></p><p>The public livestreaming was a bit of a disappointment. In a venue that seemed to be a hotel bar there was apparently a handful of people present. Wahlroos was one of the speakers and he was quite careful not to reveal too much – not that there was anything real to reveal. I find it likely that the whole forum was organized mainly to serve the needs of Wahlroos to have Tuohivirta publicly promoted and to gain some kind of credibility to the scheme. </p><p><br /></p><table align="center" cellpadding="0" cellspacing="0" class="tr-caption-container" style="margin-left: auto; margin-right: auto;"><tbody><tr><td style="text-align: center;"><a href="https://1.bp.blogspot.com/-XpKpZwpXsqA/YVM0_NK1sqI/AAAAAAAADrI/zhJ_m8Rmub8eHBVCnhN45kClh4hcAvbhACNcBGAsYHQ/s658/wahlroos_sodankyla.jpg" style="margin-left: auto; margin-right: auto;"><img border="0" data-original-height="370" data-original-width="658" height="180" src="https://1.bp.blogspot.com/-XpKpZwpXsqA/YVM0_NK1sqI/AAAAAAAADrI/zhJ_m8Rmub8eHBVCnhN45kClh4hcAvbhACNcBGAsYHQ/s320/wahlroos_sodankyla.jpg" width="320" /></a></td></tr><tr><td class="tr-caption" style="text-align: center;">Kari Wahlroos bullshitting in Sodankylä.</td></tr></tbody></table><p><br /></p><table align="center" cellpadding="0" cellspacing="0" class="tr-caption-container" style="margin-left: auto; margin-right: auto;"><tbody><tr><td style="text-align: center;"><a href="https://1.bp.blogspot.com/-cKrtaP9TnuE/YVMe-lyVjkI/AAAAAAAADqw/73NJj-dcJdwKYT-M4OyNFiiY9V81fJxGQCNcBGAsYHQ/s662/forum.jpg" style="margin-left: auto; margin-right: auto;"><img border="0" data-original-height="371" data-original-width="662" height="179" src="https://1.bp.blogspot.com/-cKrtaP9TnuE/YVMe-lyVjkI/AAAAAAAADqw/73NJj-dcJdwKYT-M4OyNFiiY9V81fJxGQCNcBGAsYHQ/s320/forum.jpg" width="320" /></a></td></tr><tr><td class="tr-caption" style="text-align: center;">The audience of the forum.</td></tr></tbody></table><br /><p>During the livestream presentation Wahlroos told that he has been planning Tuohivirta seven years already. That means that he started developing the idea about the same time OneCoin was launched. Despite having seven years to plan things there wasn't much to show for.</p><p>After the livestream YLE managed to interview Wahlroos and ask more information about the project. <a href="https://yle.fi/uutiset/3-12112280" target="_blank">An article about the interview and YLE's findings was published yesterday and it doesn't flatter Tuohivirta</a> nor Wahlroos.</p><p>According to Wahlroos besides mining valuable minerals there is going to be a cryptocurrency (of course) linked to the business. This so called Freedom Republic Coin is going to enable everyone to become victims of Tuohivirta and somehow also prevent nasty burocracy coming in way. As the reporter tried to ask how is blockchain going prevent burocracy from happening Wahlroos refused to go into specifics.</p><p>Wahlroos repeatedly called himself as a dictator of Tuohivirta. However, according to YLE the area reserved in Sodankylä for Tuohivirta to operate belongs to a unnamed Finnish woman who didn't want to comment the subject to YLE.</p><p>I haven't called Tuohivirta as a company in my blog post because there isn't any company named Tuohivirta registered in Finland. Neither did YLE manage to find any companies registered as Tuohivirta abroad.</p><p>What comes to funding of Tuohivirta, Wahlroos claimed that he has a signed contract for a funding considering 800 million euros and just recently got 300 million euros of the promised sum. However, when asked about those 300 million euros by YLE Wahlroos blurted out that he wasn't sure whether they were tokens or euros. – Maybe they were onecoins?</p><p>YLE also unsuccessfully tried to approach two foreign companies who were supposed to be linked in Tuohivirta's operation. One of those two is a company named SXO Trade and Invest registered in South Africa and the other one is Kazakhstan based Geologex.</p><p>At the end of the interview Wahlroos starts to lose his temper and use curse words. When the reporter brought up Wahlroos' pass as a OneCoin promoter he replied: "How does it relate to this now? What the fuck is that related to this? And what crime has taken place in it?" – Well, for once Kari Wahlroos didn't lie. He hasn't been charged of any crime related to OneCoin.</p><p>OneCoin hired Wahlroos as an ambassador for the scam, starting from somewhere in 2015 until December 2017 when he was kicked out after the company accused him of "consistent miscommunication and misrepresentation of the OneLife Network operations and strategy" – which is actually quite funny because Wahlroos was hired to lie from behalf of the scam and mislead as many people as possible.</p><p>The day after the livestream Tuohivirta posted on social media channels that the livestream was watched by 1 million viewers in Finland alone. To any Finn the claim was laughable and absurd to begin with, an obvious lie. When YLE asked Wahlroos about this odd claim he answered that he got the numbers from the livestream organizer. The organizer told YLE that they haven't given any figures about the audience to Wahlroos. </p><p><br /></p><div class="separator" style="clear: both; text-align: center;"><a href="https://1.bp.blogspot.com/-2U4XubdW2Kc/YVMsSysWLUI/AAAAAAAADq4/maOvnyKIpr8K9QOOC5WQE-uQDPowoUVEQCNcBGAsYHQ/s510/1million.jpg" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="264" data-original-width="510" height="166" src="https://1.bp.blogspot.com/-2U4XubdW2Kc/YVMsSysWLUI/AAAAAAAADq4/maOvnyKIpr8K9QOOC5WQE-uQDPowoUVEQCNcBGAsYHQ/s320/1million.jpg" width="320" /></a></div><br /><p><br /></p><p>A funny detail that someone on Finnish Murobbs forum noticed about Tuohivirta scam. There's quite a resemblance between Tuohivirta and Fyre logos.</p><p><br /></p><div class="separator" style="clear: both; text-align: center;"><a href="https://1.bp.blogspot.com/-4S1u7PjJfzw/YVMwOmb9RqI/AAAAAAAADrA/lEzlxfptLvYowUP0Nb-zsl5pQiLt76ZYACNcBGAsYHQ/s533/fyre_tuohivirta.gif" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="533" data-original-width="524" height="320" src="https://1.bp.blogspot.com/-4S1u7PjJfzw/YVMwOmb9RqI/AAAAAAAADrA/lEzlxfptLvYowUP0Nb-zsl5pQiLt76ZYACNcBGAsYHQ/s320/fyre_tuohivirta.gif" width="315" /></a></div><br /><p><br /></p>Ari Widellhttp://www.blogger.com/profile/08889226197358610337noreply@blogger.com0tag:blogger.com,1999:blog-4779620886549453292.post-21666120856224518492021-05-14T13:44:00.002+03:002021-05-14T13:45:04.723+03:00Lifezer – another scam with Russian actors<p> I'll leave this post short – just to warn people about Lifezer.</p><p>The website of Lifezer introduces the CEO/founder of the scam as David Lake. However, after watching videos of David Lake speaking with a clear Eastern European accent it was obvious that he was an actor hired to represent himself as the CEO. </p><table align="center" cellpadding="0" cellspacing="0" class="tr-caption-container" style="margin-left: auto; margin-right: auto;"><tbody><tr><td style="text-align: center;"><a href="https://1.bp.blogspot.com/-qd39LYqfyMc/YJ5P13YeWeI/AAAAAAAADlY/intXnpeFf6osTazf0MK6p3g6t-NF1pJFgCNcBGAsYHQ/s620/david_lake.jpg" imageanchor="1" style="margin-left: auto; margin-right: auto;"><img border="0" data-original-height="390" data-original-width="620" src="https://1.bp.blogspot.com/-qd39LYqfyMc/YJ5P13YeWeI/AAAAAAAADlY/intXnpeFf6osTazf0MK6p3g6t-NF1pJFgCNcBGAsYHQ/s320/david_lake.jpg" width="320" /></a></td></tr><tr><td class="tr-caption" style="text-align: center;">"David Lake" as captured from Lifezer webpage.</td></tr></tbody></table><br /><br /><table align="center" cellpadding="0" cellspacing="0" class="tr-caption-container" style="margin-left: auto; margin-right: auto;"><tbody><tr><td style="text-align: center;"><a href="https://1.bp.blogspot.com/-Q57KC6O9Qls/YJ5QPxX0kjI/AAAAAAAADlg/IC5rYXGwD7YdZ5BxWc71WQruVEJje2TwQCNcBGAsYHQ/s797/david_lake_2.jpg" imageanchor="1" style="margin-left: auto; margin-right: auto;"><img border="0" data-original-height="797" data-original-width="553" height="320" src="https://1.bp.blogspot.com/-Q57KC6O9Qls/YJ5QPxX0kjI/AAAAAAAADlg/IC5rYXGwD7YdZ5BxWc71WQruVEJje2TwQCNcBGAsYHQ/s320/david_lake_2.jpg" /></a></td></tr><tr><td class="tr-caption" style="text-align: center;">"David Lake" bullshitting on the official Facebook page of Lifezer.</td></tr></tbody></table><br /><p>The real person behind the fake identity is Mikhail Novikov (МИХАИЛ НОВИКОВ), a Russian actor <a href="https://www.kino-teatr.ru/kino/acter/m/ros/500202/bio/" target="_blank">whose bio can be found online</a>.</p><p>Here's a screencap of his profile incase it disappears and someone wants to hire him as an actor for another scam:</p><table align="center" cellpadding="0" cellspacing="0" class="tr-caption-container" style="margin-left: auto; margin-right: auto;"><tbody><tr><td style="text-align: center;"><a href="https://1.bp.blogspot.com/-gkgyGKKihwo/YJ5R-02NKbI/AAAAAAAADlo/6IGHWQkmBrwyF7kzKatF3CyNqeXV5LpKwCNcBGAsYHQ/s1000/Mikhail_Novikov.jpg" imageanchor="1" style="margin-left: auto; margin-right: auto;"><img border="0" data-original-height="1000" data-original-width="812" height="320" src="https://1.bp.blogspot.com/-gkgyGKKihwo/YJ5R-02NKbI/AAAAAAAADlo/6IGHWQkmBrwyF7kzKatF3CyNqeXV5LpKwCNcBGAsYHQ/s320/Mikhail_Novikov.jpg" /></a></td></tr><tr><td class="tr-caption" style="text-align: center;">Click to enlarge.</td></tr></tbody></table><br /><p>The Facebook page of the scam introduces also the CFO of Lifezer. I bet he's a Russian actor as well but couldn't find him yet.</p><table align="center" cellpadding="0" cellspacing="0" class="tr-caption-container" style="margin-left: auto; margin-right: auto;"><tbody><tr><td style="text-align: center;"><a href="https://1.bp.blogspot.com/-5-brtBa0Jrg/YJ5TCzxrAqI/AAAAAAAADlw/_O4WRYLQkZk93xS6P8OmIab1YI5jmk2AgCNcBGAsYHQ/s597/Na%25CC%2588ytto%25CC%2588kuva%2B2021-5-14%2Bkello%2B13.36.50.png" imageanchor="1" style="margin-left: auto; margin-right: auto;"><img border="0" data-original-height="597" data-original-width="496" height="320" src="https://1.bp.blogspot.com/-5-brtBa0Jrg/YJ5TCzxrAqI/AAAAAAAADlw/_O4WRYLQkZk93xS6P8OmIab1YI5jmk2AgCNcBGAsYHQ/s320/Na%25CC%2588ytto%25CC%2588kuva%2B2021-5-14%2Bkello%2B13.36.50.png" /></a></td></tr><tr><td class="tr-caption" style="text-align: center;">"Victor Holmberg"? – Sure.</td></tr></tbody></table><p><br /></p><p>Well, that's about it. Needless to say more because this all is more than enough to prove that Lifezer is 100% pure scam. </p><p>Remember kids! – Don't give your money to criminals, because donation is not an investment.</p><p><br /></p>Ari Widellhttp://www.blogger.com/profile/08889226197358610337noreply@blogger.com0tag:blogger.com,1999:blog-4779620886549453292.post-50655265577413490712021-03-20T00:25:00.003+02:002021-03-22T10:23:48.331+02:00Coinslush and Crypto Shanty scamsCoinslush and Crypto Shanty are quite freshly baked scams. They don't seem to be popular at the moment and hopefully they never will be.<div><br /></div><div>I wouldn't even know about these schemes had I not decided to join a Telegram channel of Wiseling scam to observe what's happening there. Wiseling has already been covered by other scam busters and it's rather irrelevant to this post, but to put it short it is a scam (you can read more about Wiseling from the links at the end of this blog post). Wiseling doesn't seem to have any relation to Coinslush and Crypto Shanty. However, while minding my own business in the TG channel of Wiseling someone approached me there and started subtly chatting to me about Coinslush.</div><div><br /></div><div>This person was doing the thing many scammers do nowadays, fishing from the waters of Lake Gullibility – social media channels of scams swarming of people desperately searching a way to become rich with a minimum effort. </div><div><br /></div><div>This presumably fake person, "Matteo Hendrik", presented himself as an investor of Coinslush. He was surprisingly persistent although I didn't make any effort to pretend that I was a gullible victim to be. Instead I was asking him awkward questions about Coinslush which also questioned his own trustworthiness as an "investor". You can read almost the whole conversation I had with "Matteo" from the screenshots below. He had also some profile pics but I don't present them here because they were most likely stolen to create his fake identity.</div><div><br /></div><div><br /></div><table align="center" cellpadding="0" cellspacing="0" class="tr-caption-container" style="margin-left: auto; margin-right: auto;"><tbody><tr><td style="text-align: center;"><a href="https://1.bp.blogspot.com/-69AGcglG-M0/YFIT_N-ZMSI/AAAAAAAADi8/ED4W_EupcE82drMstEHjtz3Ai_9v02ZJQCNcBGAsYHQ/s1500/tg_matteo.jpg" style="margin-left: auto; margin-right: auto;"><img border="0" data-original-height="1500" data-original-width="404" src="https://1.bp.blogspot.com/-69AGcglG-M0/YFIT_N-ZMSI/AAAAAAAADi8/ED4W_EupcE82drMstEHjtz3Ai_9v02ZJQCNcBGAsYHQ/s16000/tg_matteo.jpg" /></a></td></tr><tr><td class="tr-caption" style="text-align: center;">I thought he had already given up after I took this screenshot of the conversation. However, he did come back for a short while still trying to convince me. Failing to do that he deleted the whole conversation and ran away.</td></tr></tbody></table><br /><div>Before deleting the conversation Matteo explained that he had started investing in Coinslush in 2019. He didn't seem to mind that the domain coinslush.com was registered not until in December 2020. I haven't found any evidence that this Matteo Hendrik exists so I presume that he – the person behind the fake identity – is somehow involved in the scam.</div><div><br /></div><div><br /></div><h2 style="text-align: left;">The website</h2><div><br /></div><div>Needless to say Coinslush cannot stand a closer inspection. <a href="https://coinslush.com/home.php" target="_blank">The website</a> itself might look convincing enough to lure gullible people who think that donating money to a random company online is a good idea. However, the site offers plenty of red flags which should be more than enough to warn people from investing in to this. </div><div><br /></div><div>First of all, the bottom part of the landing page has a table showing "last 10 deposits" and "last 10 withdrawals". The contents of those tables are scripted to show bogus information and they even change every time one reloads the page. The numbers in the middle are of course fake as well.</div><div><br /></div><table align="center" cellpadding="0" cellspacing="0" class="tr-caption-container" style="margin-left: auto; margin-right: auto;"><tbody><tr><td style="text-align: center;"><a href="https://1.bp.blogspot.com/-AbRlhpzuBXg/YFUQMIh60bI/AAAAAAAADj4/tqQJc7wDt6E5BWAhbflnYFvdemQApSgfwCNcBGAsYHQ/s1080/scripted.jpg" style="margin-left: auto; margin-right: auto;"><img border="0" data-original-height="461" data-original-width="1080" height="171" src="https://1.bp.blogspot.com/-AbRlhpzuBXg/YFUQMIh60bI/AAAAAAAADj4/tqQJc7wDt6E5BWAhbflnYFvdemQApSgfwCNcBGAsYHQ/w400-h171/scripted.jpg" width="400" /></a></td></tr><tr><td class="tr-caption" style="text-align: center;">Fake, fake, fake.</td></tr></tbody></table><br /><div><br /></div><div><br /></div><div>Coinslush boasts about having a registered company in the UK, F2POOL UK Limited. <a href="https://find-and-update.company-information.service.gov.uk/company/12027193/filing-history" target="_blank">According to Companies House F2POOL UK ltd is going to be dissolved soon</a>. The company had a registered office address at: South Quay Building, 180 Marsh Wall, London, United Kingdom, E14 9SH. The sole director of the company is Paul Barrett. I couldn't manage to find more information about Barrett, because the website of Coinslush has no picture of him nor any information. In fact there is no information about him or any other people behind the scheme.</div><div><br /></div><div>I also happened to find another address from the website, possibly due a mistake of the person setting up the webpages. This address is 139 Crownhill Road, Plymouth, England, PL5 3SS. The address leads to an apartment (a duplex house) and might have been for another shell company used prior to F2POOL UK Ltd. The website's support section has also a map directing to the old address. I guess at some point they decided to upgrade the shell company and its location but forgot to update all addresses from the website.</div><div><br /></div><div>The website contains also a news section. There's only one news item titled "Test news" revealing information of another shell company Coinslush Ltd with a registry number #12709338. I couldn't find any registered company named Coinslush Ltd but the registry number leads to another company named Crypto Shanty. Not to anyone's surprise but <a href="https://cryptoshanty.uno/?a=rules" target="_blank">Crypto Shanty</a> has a very similar website to the one of Coinslush. Also Coin Shanty Ltd is on its way to be <a href="https://find-and-update.company-information.service.gov.uk/company/12709338/filing-history" target="_blank">dissolved soon</a>. </div><div><br /></div><table align="center" cellpadding="0" cellspacing="0" class="tr-caption-container" style="margin-left: auto; margin-right: auto;"><tbody><tr><td style="text-align: center;"><a href="https://1.bp.blogspot.com/-0MDsbWQZofE/YFTkNlQj7FI/AAAAAAAADjo/8cExr_qtfRo5Jw2_P7idIbxfSPFTnjYjACNcBGAsYHQ/s1080/test_news.jpg" style="margin-left: auto; margin-right: auto;"><img border="0" data-original-height="212" data-original-width="1080" src="https://1.bp.blogspot.com/-0MDsbWQZofE/YFTkNlQj7FI/AAAAAAAADjo/8cExr_qtfRo5Jw2_P7idIbxfSPFTnjYjACNcBGAsYHQ/s320/test_news.jpg" width="320" /></a></td></tr><tr><td class="tr-caption" style="text-align: center;">"Test News" – and another shell company mentioned</td></tr></tbody></table><br /><br /><div>I managed to also find the following domains having clear connections to Coinslush/Crypto Shanty:</div><div>cryptoshanty.uno (available online)</div><div>cryptoshanty.biz (only Google cache version available)</div><div>octavemining.com (<a href="https://www.trustpilot.com/review/octavemining.com" target="_blank">apparently was an active scam once</a>)</div><div>cryptoshanty.com (more about this site below)</div><div>- And these were only the ones which could be easily tracked down.</div><div><br /></div><div>The Google cache shows a poorly designed website of cryptoshanty.com revealing the identity of Dr. Alison Franklin, the sole director of Crypto Shanty Ltd. Below is a screencap:</div><div><br /></div><div class="separator" style="clear: both; text-align: center;"><a href="https://1.bp.blogspot.com/-bix1z-Cu5RQ/YFUMMVF02dI/AAAAAAAADjw/cUPexT9TIw0arW3o7CmTD-mpheDmnfgGwCNcBGAsYHQ/s1353/alison_franklin_cryptoshantycom.jpg" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="1259" data-original-width="1353" src="https://1.bp.blogspot.com/-bix1z-Cu5RQ/YFUMMVF02dI/AAAAAAAADjw/cUPexT9TIw0arW3o7CmTD-mpheDmnfgGwCNcBGAsYHQ/s320/alison_franklin_cryptoshantycom.jpg" width="320" /></a></div><br /><div><br /></div><div>Surprisingly she actually does exist. I first thought that this was a fake identity with a stolen picture but she turns out to be a real doctor in the UK. I'll try to contact her next week and ask her some questions.</div><div><br /></div><div><br /></div><h2 style="text-align: left;">Modern scams</h2><div><br /></div><div>All those examples above show how scammers nowadays operate. Creating websites for scams is easy, doesn't cost much money nor time and there are always millions of gullible people online. The Internet makes it possible to vanish into thin air after mission has been accomplished. Using fake identities and shell companies keeps the criminals safe and cryptocurrency makes even the money flow untraceable.</div><div><br /></div><div>I have also seen some scams even advertising themselves on YouTube (for example: <a href="http://kusetukset.blogspot.com/search?q=bunny+token" target="_blank">BunnyToken</a>, <a href="http://kusetukset.blogspot.com/search?q=miner+one" target="_blank">MinerOne</a>, <a href="https://kusetukset.blogspot.com/2019/11/money-back-hero-scamming-scam-victims.html" target="_blank">MoneyBackHero</a>, <a href="http://kusetukset.blogspot.com/search?q=recyclix" target="_blank">Recyclix</a>). These scams were created by scammers who were actually investing into marketing these schemes, and I must say that their investments truly paid off handsomely.</div><div><br /></div><div>Below is an example of marketing material of Recyclix scam.</div><div><br /></div><div class="separator" style="clear: both; text-align: center;"><iframe allowfullscreen="" class="BLOG_video_class" height="266" src="https://www.youtube.com/embed/AIwGkUwlbxw" width="320" youtube-src-id="AIwGkUwlbxw"></iframe></div><br /><div><br /></div><div><br /></div><div>The old saying is still valid but I would like to enhance it a bit: if something on the Internet seems too good to be true it most certainly is.</div><div><br /></div><div><br /></div><div>Read more about Wiseling:</div><div><a href="https://behindmlm.com/mlm-reviews/wiseling-review-daily-returns-ponzi-scheme/">https://behindmlm.com/mlm-reviews/wiseling-review-daily-returns-ponzi-scheme/</a></div><div><a href="https://pjarvinen.blogspot.com/2021/02/wiseling-huijaus-esiintyy-suomalaisena.html">https://pjarvinen.blogspot.com/2021/02/wiseling-huijaus-esiintyy-suomalaisena.html</a></div><div><br /></div>Ari Widellhttp://www.blogger.com/profile/08889226197358610337noreply@blogger.com0tag:blogger.com,1999:blog-4779620886549453292.post-42252500933610517072020-10-21T00:29:00.008+03:002020-10-21T17:14:44.071+03:00OneCoin's all educational material available free of charge<p>Recently someone found out that all OneCoin's educational material had been left available online free of charge. There was no hacking needed and the files were accessible simply due the sloppiness of the scam's leadership. All the material from "OneAcademy's educational packages" was then downloaded and has been <a href="https://behindmlm.com/companies/onecoin/so-were-getting-a-onecoin-movie/#comment-429873" target="_blank">available online from thereafter</a>. The file (about 10 Gb) contains all OneAcademy's educational courses: Finance, Forex, Legal and BlockChain. I was of course interested in seeing what the educational material contains so I downloaded the leaked material.</p><p>OneCoin scheme uses these educational packages as a lame cover-up for the actual ponzi-pyramid business and publicly claims to sell only education. In reality the core of the business is all about selling OneCoin's pseudo cryptocurrency. </p><p><br /></p><h2 style="text-align: left;">OneAcademy</h2><p><br /></p><table align="center" cellpadding="0" cellspacing="0" class="tr-caption-container" style="margin-left: auto; margin-right: auto;"><tbody><tr><td style="text-align: center;"><a href="https://1.bp.blogspot.com/-6mcp2jbWhzo/X435Gm0Y7KI/AAAAAAAADeg/YyS5ToUMvdEP7SWgrfWlkuRD-sqHvEczQCNcBGAsYHQ/s1098/Miss_Information.jpg" style="margin-left: auto; margin-right: auto;"><img border="0" data-original-height="1098" data-original-width="1080" height="400" src="https://1.bp.blogspot.com/-6mcp2jbWhzo/X435Gm0Y7KI/AAAAAAAADeg/YyS5ToUMvdEP7SWgrfWlkuRD-sqHvEczQCNcBGAsYHQ/w394-h400/Miss_Information.jpg" width="394" /></a></td></tr><tr><td class="tr-caption" style="text-align: center;">Dr. Ruja, the founder and the visionary of OneCoin scam. (Nah, "Miss Information" was Photoshopped there.)</td></tr></tbody></table><p><br /></p><p>In the beginning of the scam OneCoin had only a pdf file to provide as an excuse for education. Funny enough also that education was accidentally left available free of charge for quite some time before the scammers realized to have their precious education secured behind a paywall. In addition it was soon found out that the entire content of the pdf was <a href="https://www.youtube.com/watch?v=j9ifQQcbx9s" target="_blank">copied/plagiarised from a source available free online</a> (click the link to see a short video of the case). </p><p>While growing to the monstrous size of being the biggest ponzi-pyramid scam ever OneCoin could not settle for a single pdf file with a copied content anymore. As the reputation of the scam grew so did also attention it was getting from media. There was also a growing number of people warning about OneCoin in addition to numerous authorities. The leadership of the scam decided to do something to justify the existence of multiple educational packages. Thus OneAcademy was launched.</p><p><br /></p><p></p><table align="center" cellpadding="0" cellspacing="0" class="tr-caption-container" style="margin-left: auto; margin-right: auto;"><tbody><tr><td style="text-align: center;"><a href="https://1.bp.blogspot.com/-OGl_phduS-w/X4xYazYymYI/AAAAAAAADd8/_StMbQdpc_Mj73UoegLWn6HfaXl1_zqrQCNcBGAsYHQ/s1582/Hr39s6Z.png" style="margin-left: auto; margin-right: auto;"><img border="0" data-original-height="1582" data-original-width="1179" height="400" src="https://1.bp.blogspot.com/-OGl_phduS-w/X4xYazYymYI/AAAAAAAADd8/_StMbQdpc_Mj73UoegLWn6HfaXl1_zqrQCNcBGAsYHQ/w298-h400/Hr39s6Z.png" width="298" /></a></td></tr><tr><td class="tr-caption" style="text-align: center;">OneCoin's educational packages in 2020.</td></tr></tbody></table><br /> <p></p><p>It's not like the upgrade to the educational material has made this obvious scam less obvious. OneCoin has been selling these packages for ridiculous prices. During the craziest years they had package prices going even up to 188k euros or more – and it's worth mentioning that there was less educational courses available back then.</p><p>At the moment it's hard to determine the overall price of the education courses because OneCoin's online shop doesn't even tell what education is included in a package (below is a screenshot taken from the shop). Nevertheless, I guess it's safe to say that at the moment it would cost tens of thousands of euros to purchase the maximum amount of coins... I mean courses. </p><p><br /></p><div class="separator" style="clear: both; text-align: center;"><a href="https://1.bp.blogspot.com/-6odv34uruzM/X43glaULdeI/AAAAAAAADeU/rNAacAt0Zsgn1_YRneodYw5CodTEuU20wCNcBGAsYHQ/s1080/infinity_package.jpg" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="873" data-original-width="1080" src="https://1.bp.blogspot.com/-6odv34uruzM/X43glaULdeI/AAAAAAAADeU/rNAacAt0Zsgn1_YRneodYw5CodTEuU20wCNcBGAsYHQ/s320/infinity_package.jpg" width="320" /></a></div><p><br /></p><p>Needless to say the education one gets from these packages is far from the value they are sold. It doesn't matter though because the vast majority of the ponzi victims don't even bother to go through the educational material. They are only interested in the coin they have been duped to acquire.</p><p><br /></p><p><br /></p><h2 style="text-align: left;">Meet the PhDs</h2><p>In order to have material for various educational packages OneCoin has paid five PhDs to lecture in the courses and also have their faces exploited as a ponzi marketing tools.</p><p>PhDs Angel Marchev, Numan Ulku, Steve Ruffley, Ioannis Kantartzis and Eva Porras might be experts in their field but they seem to have poor judgement in decision making and Googling. Now, this is just me guessing, but I think they didn't exactly plan to have their faces plastered in material sold by an international criminal organisation.</p><p><br /></p><table align="center" cellpadding="0" cellspacing="0" class="tr-caption-container" style="margin-left: auto; margin-right: auto;"><tbody><tr><td style="text-align: center;"><a href="https://1.bp.blogspot.com/-U8hCZiSKpXE/X49B8YgSTBI/AAAAAAAADfE/Avl-O-9xo5oNEnxaR05Ds8HrD96LtBPYQCNcBGAsYHQ/s1920/angel_marchev.jpg" style="margin-left: auto; margin-right: auto;"><img border="0" data-original-height="1080" data-original-width="1920" src="https://1.bp.blogspot.com/-U8hCZiSKpXE/X49B8YgSTBI/AAAAAAAADfE/Avl-O-9xo5oNEnxaR05Ds8HrD96LtBPYQCNcBGAsYHQ/s320/angel_marchev.jpg" width="320" /></a></td></tr><tr><td class="tr-caption" style="text-align: center;"><span style="text-align: left;">Angel Marchev, PhD, University Lecturer</span></td></tr></tbody></table><div class="separator" style="clear: both; text-align: center;"><a href="https://1.bp.blogspot.com/-MpgrRJOBhWw/X49B8ZMt1qI/AAAAAAAADe8/nLmxMNcLf8IpJoAV6VI0W4mPlw8hX3BKwCNcBGAsYHQ/s1920/eva_porras.jpg" style="margin-left: 1em; margin-right: 1em;"></a><br /><br /><table align="center" cellpadding="0" cellspacing="0" class="tr-caption-container" style="margin-left: auto; margin-right: auto;"><tbody><tr><td style="text-align: center;"><img border="0" data-original-height="1080" data-original-width="1920" src="https://1.bp.blogspot.com/-MpgrRJOBhWw/X49B8ZMt1qI/AAAAAAAADe8/nLmxMNcLf8IpJoAV6VI0W4mPlw8hX3BKwCNcBGAsYHQ/s320/eva_porras.jpg" style="margin-left: auto; margin-right: auto;" width="320" /></td></tr><tr><td class="tr-caption" style="text-align: center;">Eva Porras, PhD, University Lecturer</td></tr></tbody></table><a href="https://1.bp.blogspot.com/-MpgrRJOBhWw/X49B8ZMt1qI/AAAAAAAADe8/nLmxMNcLf8IpJoAV6VI0W4mPlw8hX3BKwCNcBGAsYHQ/s1920/eva_porras.jpg" style="margin-left: 1em; margin-right: 1em;"></a></div><br /><table align="center" cellpadding="0" cellspacing="0" class="tr-caption-container" style="margin-left: auto; margin-right: auto;"><tbody><tr><td style="text-align: center;"><a href="https://1.bp.blogspot.com/-ZPixi7je4uU/X49B8UXMGgI/AAAAAAAADfA/3VcmW4fMpKIjy9RySrGXHJrz_RFguuvQACNcBGAsYHQ/s1920/ioannis_kantartzis.jpg" style="margin-left: auto; margin-right: auto;"><img border="0" data-original-height="1080" data-original-width="1920" src="https://1.bp.blogspot.com/-ZPixi7je4uU/X49B8UXMGgI/AAAAAAAADfA/3VcmW4fMpKIjy9RySrGXHJrz_RFguuvQACNcBGAsYHQ/s320/ioannis_kantartzis.jpg" width="320" /></a></td></tr><tr><td class="tr-caption" style="text-align: center;">Ioannis Kantartzis, PhD, University Lecturer</td></tr></tbody></table><br /><div class="separator" style="clear: both; text-align: center;"><a href="https://1.bp.blogspot.com/-omIc97GeY8o/X49B9WgbPHI/AAAAAAAADfI/9Siew11EYuQ0IQRKOt-RMAuiXRg777FpgCNcBGAsYHQ/s1920/numan_ulku.jpg" style="margin-left: 1em; margin-right: 1em;"></a><table align="center" cellpadding="0" cellspacing="0" class="tr-caption-container" style="margin-left: auto; margin-right: auto;"><tbody><tr><td style="text-align: center;"><img border="0" data-original-height="1080" data-original-width="1920" src="https://1.bp.blogspot.com/-omIc97GeY8o/X49B9WgbPHI/AAAAAAAADfI/9Siew11EYuQ0IQRKOt-RMAuiXRg777FpgCNcBGAsYHQ/s320/numan_ulku.jpg" style="margin-left: auto; margin-right: auto;" width="320" /></td></tr><tr><td class="tr-caption" style="text-align: center;"><span style="text-align: left;">Numan Ulku (/ Numan </span>Ülkü), PhD, University Lecturer</td></tr></tbody></table><a href="https://1.bp.blogspot.com/-omIc97GeY8o/X49B9WgbPHI/AAAAAAAADfI/9Siew11EYuQ0IQRKOt-RMAuiXRg777FpgCNcBGAsYHQ/s1920/numan_ulku.jpg" style="margin-left: 1em; margin-right: 1em;"></a></div><br /><table align="center" cellpadding="0" cellspacing="0" class="tr-caption-container" style="margin-left: auto; margin-right: auto;"><tbody><tr><td style="text-align: center;"><a href="https://1.bp.blogspot.com/-wv-ShV_TxTQ/X49B9ogFbnI/AAAAAAAADfM/SfJ6n0yffCYXQGDrKPaQ9th1Troad1z4QCNcBGAsYHQ/s1920/steve_ruffley.jpg" style="margin-left: auto; margin-right: auto;"><img border="0" data-original-height="1080" data-original-width="1920" src="https://1.bp.blogspot.com/-wv-ShV_TxTQ/X49B9ogFbnI/AAAAAAAADfM/SfJ6n0yffCYXQGDrKPaQ9th1Troad1z4QCNcBGAsYHQ/s320/steve_ruffley.jpg" width="320" /></a></td></tr><tr><td class="tr-caption" style="text-align: center;">Steve Ruffley, PhD, University Lecturer</td></tr></tbody></table><p><br /></p><p>The educational material contains mostly videos. Many of them have the lecturers mentioned above featuring. I must bring up – and correct me if I'm wrong – that none of the PhDs talk about OneCoin or refer to it in those videos, let alone urge people to buy ponzi coins. I didn't watch all those videos through but I guess most of the lectures contain the usual subjects these people tend to lecture about. </p><p>Besides numerous videos there are also some pdf's included. I find it hilarious that there is a pdf file titled "OneAcademy – Blockchain – Fundamentals" which has a page listing 11 popular cryptocurrencies, lacking OneCoin.</p><p><br /></p><div class="separator" style="clear: both; text-align: center;"><a href="https://1.bp.blogspot.com/-ts80NKCWHhc/X49FNWRL9EI/AAAAAAAADfg/uzLgdHWvF9A69mlydDSFOwWLzLWxhtSPACNcBGAsYHQ/s1260/popular_cryptocurrencies.jpg" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="1260" data-original-width="1080" height="400" src="https://1.bp.blogspot.com/-ts80NKCWHhc/X49FNWRL9EI/AAAAAAAADfg/uzLgdHWvF9A69mlydDSFOwWLzLWxhtSPACNcBGAsYHQ/w343-h400/popular_cryptocurrencies.jpg" width="343" /></a></div><div><br /></div><p><br /></p><p>Like I have said before, OneCoin members don't care about the education. Neither has the (mis)leadership of the scam ever cared. All the marketing pitches and newsletters target gullible people interested in getting company's bogus coins. </p><p>In fact, I don't even think OneCoin has ever had a real need to foul any authorities with this "We are only selling education" mantra. The company could just as well admitted publicly that they were only selling play money for adults because the scam has always been there plain to see.</p><p><br /></p><h3 style="text-align: left;">Update October 21, 2020:</h3><p>Cryptocurrency enthusiast David Hay had actually managed to contact Steve Ruffley to ask about his involvement in OneAcademy's educational material. <a href="https://youtu.be/i54M36n6FqQ?t=697" target="_blank">The responses he got</a> from Ruffley and also from the other PhDs involved indicates that these lecturers probably didn't even know where their video lectures ended up.</p><p>Ioannis Kantartzis is an exception among the lectures because he certainly has met Ruja Ignatova in person. <a href="https://www.youtube.com/watch?v=So-0Z6cJwdA&feature=youtu.be" target="_blank">Here is also a video proof</a>. Unless Ruja Ignatova forgot her own name while introducing herself to <span style="text-align: center;">Kantartzis, he must have known with whom he was dealing with.</span></p><p><span style="text-align: center;"><br /></span></p><table align="center" cellpadding="0" cellspacing="0" class="tr-caption-container" style="margin-left: auto; margin-right: auto;"><tbody><tr><td style="text-align: center;"><a href="https://1.bp.blogspot.com/-lADUKAlipwE/X5BA5Q2-FUI/AAAAAAAADfs/C7lyKKcyVh8q_AykDYrX0lTFpDuHuq5hACNcBGAsYHQ/s1913/ruja_and_kantartzis.jpg" imageanchor="1" style="margin-left: auto; margin-right: auto;"><img border="0" data-original-height="1080" data-original-width="1913" src="https://1.bp.blogspot.com/-lADUKAlipwE/X5BA5Q2-FUI/AAAAAAAADfs/C7lyKKcyVh8q_AykDYrX0lTFpDuHuq5hACNcBGAsYHQ/s320/ruja_and_kantartzis.jpg" width="320" /></a></td></tr><tr><td class="tr-caption" style="text-align: center;">Ruja Ignatova and Ioannis Kantartzis.</td></tr></tbody></table><p><br /><br /></p>Ari Widellhttp://www.blogger.com/profile/08889226197358610337noreply@blogger.com0tag:blogger.com,1999:blog-4779620886549453292.post-13099116311460446332020-02-28T15:25:00.002+02:002020-05-29T14:13:38.121+03:00Circle of Finance & Invicta – a circle of ex-OneCoin misleaders<span style="font-family: arial, helvetica, sans-serif;">Following the exodus of top misleaders from OneCoin there has been many of them trying to launch schemes of their own. These people witnessed OneCoin running for years, collecting billions of dollars from gullible people and providing hundreds of millions to the top scammers, so it must had been tempting for anyone without a moral backbone to try to copy the success story that OneCoin had.</span><br />
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<span style="font-family: arial, helvetica, sans-serif;">The most recent effort to exploit the network of OneCoin victims is something called Circle of Finance.</span><br />
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<span style="font-family: arial, helvetica, sans-serif;">In November 2019 a team of OneCoin's top misleaders who had decided to exit the scam took over a OneCoin related Facebook group "OneCoin Exchange/Updates Official Channel". As they took over they renamed the group as "New Journey" without providing any explanation to well over 20 thousand followers. Needless to say the group consisting many OneCoin fanatics didn't take this sudden change of course well. On January 29th 2020 a new Facebook page for <a href="https://www.facebook.com/circleoffinance/">Circle of Finance</a> was created and the old one doesn't seem to exist anymore.</span><br />
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<span style="font-family: arial, helvetica, sans-serif;">Circle of Finance doesn't have a website and there still isn't much information available. They have a couple of YouTube videos hinting about a token called Invicta to be attached to the scheme.</span><br />
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<span style="font-family: arial, helvetica, sans-serif;">The official Facebook page has only 681 followers at the moment which probably isn't what was expected despite it must had been clear that it would not be easy to convert people from the church of OneCoin to this "Church of Finance". Well, it certainly would require extreme gullibility to follow these leaders who had been shamelessly misleading OneCoin victims for years.</span><br />
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<table align="center" cellpadding="0" cellspacing="0" class="tr-caption-container" style="margin-left: auto; margin-right: auto; text-align: center;"><tbody>
<tr><td style="text-align: center;"><a href="https://1.bp.blogspot.com/-xcsMxvh9O08/XlOFL-tSeII/AAAAAAAADVM/Pdlyb_ehHvIiF8Mtr6bV9EOFF0DFD2jwwCNcBGAsYHQ/s1600/circle_of_finance_youtube.jpg" style="margin-left: auto; margin-right: auto;"><span style="font-family: arial, helvetica, sans-serif;"><img border="0" data-original-height="295" data-original-width="540" src="https://1.bp.blogspot.com/-xcsMxvh9O08/XlOFL-tSeII/AAAAAAAADVM/Pdlyb_ehHvIiF8Mtr6bV9EOFF0DFD2jwwCNcBGAsYHQ/s1600/circle_of_finance_youtube.jpg" /></span></a></td></tr>
<tr><td class="tr-caption" style="text-align: center;"><span style="font-family: arial, helvetica, sans-serif;">A screencapture taken from a YouTube video of Circle of Finance. I guess they have plans to have a sun, some clouds and a tree of ponzi coins.</span></td></tr>
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<span style="font-family: verdana, sans-serif;">Who's running the show?</span></h3>
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<span style="font-family: arial, helvetica, sans-serif;">Although there hasn't been any public information about who's in charge it seems that Habib Abdul Rehman (formerly known as Habib Zahid) and Veselina Valkova are the ones leading this project.</span><br />
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<span style="font-family: arial, helvetica, sans-serif;">Veselina Valkova was officially known as the Head of Compliance at OneCoin before joining Circle of Finance. Habid Zahid was a high hierarchy member of the network having a status as "Black Diamond". Zahid was also a member of Inner Circle of OneLife, which was an exclusive group of selected OneCoin promoters having a sort of status of being official spokesmen for the company.</span><br />
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<span style="font-family: arial, helvetica, sans-serif;">Backing up the presumption that these two are in charge is that someone happened to find out (<a href="https://behindmlm.com/companies/onecoin/bridle-tightens-on-amer-abdulazizs-phoenix-fund-lies/#comment-417344">link</a>) that Habib Abdul Rehman and Veselina Valkova had registered a company in Estonia named TRADEINVICTA OÜ on 7 November 2019. In December 2019 an ERC20 token named <a href="https://etherscan.io/token/0xc1Db8935c5FcCe5c478ea9601c139f77234f034b">Invicta</a> was created.</span><br />
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<span style="font-family: arial, helvetica, sans-serif;">The purpose of the Estonian company was to have Invicta token launched and to have an exchange for it. To proceed with this they even acquired <a href="https://behindmlm.com/companies/onecoin/bridle-tightens-on-amer-abdulazizs-phoenix-fund-lies/#comment-417345">virtual currency related licenses from Estonia</a>. However, the licenses are <a href="https://www.teatmik.ee/ru/personlegal/14844026-TradeInvicta-O%C3%9C">not valid anymore</a> so it seems that they had to change their plans for unknown reasons.</span><br />
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<tr><td style="text-align: center;"><a href="https://1.bp.blogspot.com/-IfP15S7ptZQ/Xk_krXHlj0I/AAAAAAAADUs/XRJw-ttwghcC0CyaHxsNPQMF8jdVC0PEgCNcBGAsYHQ/s1600/veselina_valkova.jpeg" style="margin-left: auto; margin-right: auto;"><span style="font-family: arial, helvetica, sans-serif;"><img border="0" data-original-height="200" data-original-width="200" src="https://1.bp.blogspot.com/-IfP15S7ptZQ/Xk_krXHlj0I/AAAAAAAADUs/XRJw-ttwghcC0CyaHxsNPQMF8jdVC0PEgCNcBGAsYHQ/s1600/veselina_valkova.jpeg" /></span></a></td></tr>
<tr><td class="tr-caption" style="text-align: center;"><span style="font-family: arial, helvetica, sans-serif;">A photo of Veselina Valkova from her LinkedIn profile. She had removed it at some point.</span></td></tr>
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<table align="center" cellpadding="0" cellspacing="0" class="tr-caption-container" style="margin-left: auto; margin-right: auto; text-align: center;"><tbody>
<tr><td style="text-align: center;"><a href="https://1.bp.blogspot.com/-_cX0D5YKe1s/XlZ2KxTMA3I/AAAAAAAADVo/dr_Cvk1r3EcteYfcAYzPD-HtjIpjMC2YACNcBGAsYHQ/s1600/habib_abdul_rehman.jpg" style="margin-left: auto; margin-right: auto;"><span style="font-family: arial, helvetica, sans-serif;"><img border="0" data-original-height="909" data-original-width="1280" height="227" src="https://1.bp.blogspot.com/-_cX0D5YKe1s/XlZ2KxTMA3I/AAAAAAAADVo/dr_Cvk1r3EcteYfcAYzPD-HtjIpjMC2YACNcBGAsYHQ/s320/habib_abdul_rehman.jpg" width="320" /></span></a></td></tr>
<tr><td class="tr-caption" style="text-align: center;"><span style="font-family: arial, helvetica, sans-serif;">Habib Abdul Rehman (formerly known as Habib Zahid).</span></td></tr>
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<table align="center" cellpadding="0" cellspacing="0" class="tr-caption-container" style="margin-left: auto; margin-right: auto; text-align: center;"><tbody>
<tr><td style="text-align: center;"><a href="https://1.bp.blogspot.com/-PueNy1ZsuWE/XlZ2UsB51rI/AAAAAAAADVs/74V9pCJ5CEYJESgkBP7Kuhv7P4OJF4C0wCNcBGAsYHQ/s1600/veselina_rehman.jpg" style="margin-left: auto; margin-right: auto;"><span style="font-family: arial, helvetica, sans-serif;"><img border="0" data-original-height="1280" data-original-width="853" height="320" src="https://1.bp.blogspot.com/-PueNy1ZsuWE/XlZ2UsB51rI/AAAAAAAADVs/74V9pCJ5CEYJESgkBP7Kuhv7P4OJF4C0wCNcBGAsYHQ/s320/veselina_rehman.jpg" width="213" /></span></a></td></tr>
<tr><td class="tr-caption" style="text-align: center;"><span style="font-family: arial, helvetica, sans-serif;">This wedding picture of Valkova and Rehman surfaced recently. The genuineness of the picture has not been confirmed but it certainly does look real.</span></td></tr>
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<span style="font-family: arial, helvetica, sans-serif;">For now there doesn't seem to be anything happening with Circle of Finance. The official Facebook page has been quite active with posting fluff pieces almost daily so the project doesn't seem to have been abandoned yet. However, it remains to be seen whether they will succeed to move forward and get this new church of finance thing running.</span><br />
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<span style="font-family: arial, helvetica, sans-serif;">What comes to the network side of the business the following people were the admins of the Facebook group of Circle of Finance: Habib Abdul Rehman, Dusan Torbica, Daniel Pérez Faustinelli, Faualii Sina Apineru, Damien Barnes, Quini Amores, Arto Ylitalo, Yourmos Pob and Peter Hjelte. I guess it's safe to presume that these people were guaranteed a top shelf place in the pyramid about to be constructed.</span><br />
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<table align="center" cellpadding="0" cellspacing="0" class="tr-caption-container" style="margin-left: auto; margin-right: auto; text-align: center;"><tbody>
<tr><td style="text-align: center;"><a href="https://1.bp.blogspot.com/-MSnr0DPsgJk/XlZ4t8SrF0I/AAAAAAAADV8/irhMVlnqp0cSlKwzWN2q_Ud5O42gBi2sgCNcBGAsYHQ/s1600/church_of_finance.jpg" style="margin-left: auto; margin-right: auto;"><span style="font-family: arial, helvetica, sans-serif;"><img border="0" data-original-height="779" data-original-width="1280" height="242" src="https://1.bp.blogspot.com/-MSnr0DPsgJk/XlZ4t8SrF0I/AAAAAAAADV8/irhMVlnqp0cSlKwzWN2q_Ud5O42gBi2sgCNcBGAsYHQ/s400/church_of_finance.jpg" width="400" /></span></a></td></tr>
<tr><td class="tr-caption" style="text-align: center;"><span style="font-family: arial, helvetica, sans-serif;">The people of Circle of Finance. They just have to have a freaking hand sign for every scam.</span></td></tr>
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<span style="font-family: arial, helvetica, sans-serif;">Personally I find it funny how Habib Abdul Rehman and Dusan Torbica exited OneCoin very soon after trying to point their accusing fingers to "haters" and also to me. Those spineless individuals were really trying to convince their victims that OneCoin's future as a failure was caused by "haters".</span><br />
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<span style="font-family: arial, helvetica, sans-serif;">In September last year Rehman himself approached me on Facebook with a threatening tone while he was still a Master Distributor of OneCoin. For example according to him all us "haters" were soon – and I quote – "going to die in their own shits". </span><br />
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<span style="font-family: arial, helvetica, sans-serif;">Rehman wasn't shy on threatening me personally as well: "Ari it's time for you to hide or we will find you." He ended his messaging to me with "Trust me I deliver don't talk". – Well, I never trusted him anyway so I wasn't expecting him to "deliver". But what kind of sick and twisted mind operates like that?</span><br />
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<span style="font-family: arial, helvetica, sans-serif;">Torbica on the other hand was always busy dodging questions and instead of answering he tended to behave like a six-year-old. I had tried to get him to answer some questions several times but he wasn't interested in anything other than mocking me in a very childish way.</span><br />
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<span style="font-family: arial, helvetica, sans-serif;">If you want to read more about their online tantrums check my earlier post <a href="https://kusetukset.blogspot.com/2019/09/onecoin-diving-into-deeps-of-gullibility.html">here</a> which includes screencaptures and also Rehman's resignation message to OneLife network.</span><br />
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<table align="center" cellpadding="0" cellspacing="0" class="tr-caption-container" style="margin-left: auto; margin-right: auto; text-align: center;"><tbody>
<tr><td style="text-align: center;"><a href="https://1.bp.blogspot.com/-txu-ThIAXAE/XlaCsOyQN-I/AAAAAAAADWM/VEgZ3zwjbWg9S0hDpYpJbCJ9OlCjT_tHACNcBGAsYHQ/s1600/dusan_torbica.jpg" style="margin-left: auto; margin-right: auto;"><span style="font-family: arial, helvetica, sans-serif;"><img border="0" data-original-height="1511" data-original-width="540" src="https://1.bp.blogspot.com/-txu-ThIAXAE/XlaCsOyQN-I/AAAAAAAADWM/VEgZ3zwjbWg9S0hDpYpJbCJ9OlCjT_tHACNcBGAsYHQ/s1600/dusan_torbica.jpg" /></span></a></td></tr>
<tr><td class="tr-caption" style="text-align: center;"><span style="font-family: arial, helvetica, sans-serif;">Screencaptures taken from the Facebook profile of Dusan Torbica while he was promoting OneCoin and later when he had started promoting Circle of Finance. – I wonder why he changed his slogan.</span></td></tr>
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<h3>
<span style="font-family: arial, helvetica, sans-serif;">To mention some other known schemes launched by former OneCoin misleaders:</span></h3>
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<h2>
<span style="font-family: arial, helvetica, sans-serif;">Solidus Global</span></h2>
<span style="font-family: arial, helvetica, sans-serif;">Founder and CEO: Chris Principe</span><br />
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<span style="font-family: arial, helvetica, sans-serif;">Known henchmen:</span><br />
<span style="font-family: arial, helvetica, sans-serif;">Juha Parhiala "Global Ambassador"</span><br />
<span style="font-family: arial, helvetica, sans-serif;">Jorma Pallari "Ambassador"</span><br />
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<a href="https://1.bp.blogspot.com/-FurZZBNYZAQ/XlkHFGCLH9I/AAAAAAAADWo/jnwdqKivm5kb1J7HKOUktCW4ZfNeWQmlQCNcBGAsYHQ/s1600/solidus_team.jpg" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="738" data-original-width="1346" height="218" src="https://1.bp.blogspot.com/-FurZZBNYZAQ/XlkHFGCLH9I/AAAAAAAADWo/jnwdqKivm5kb1J7HKOUktCW4ZfNeWQmlQCNcBGAsYHQ/s400/solidus_team.jpg" width="400" /></a></div>
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<span style="font-family: arial, helvetica, sans-serif;">Chris Principe was known from endorsing OneCoin via his Financial IT advertorial magazine. He was also a speaker in many OneCoin related events.</span><br />
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<span style="font-family: arial, helvetica, sans-serif;">Solidus Global doesn't seem to have much traffic to the official website. As far as I know, they still have weekly webinars going on.</span><br />
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<h2>
<span style="font-family: arial, helvetica, sans-serif;">AuLives</span></h2>
<span style="font-family: arial, helvetica, sans-serif;">Founders:</span><br />
<span style="font-family: arial, helvetica, sans-serif;">"Dr." Parwiz Daud </span><br />
<span style="font-family: arial, helvetica, sans-serif;">Mansour Tawafi</span><br />
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<a href="https://1.bp.blogspot.com/-GARF4Mlx0O0/XlkIErj5BaI/AAAAAAAADWw/cGi7udILRis3-Sh1ofQ1s9TNMwfw8CUHACNcBGAsYHQ/s1600/daud.jpg" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="264" data-original-width="540" src="https://1.bp.blogspot.com/-GARF4Mlx0O0/XlkIErj5BaI/AAAAAAAADWw/cGi7udILRis3-Sh1ofQ1s9TNMwfw8CUHACNcBGAsYHQ/s1600/daud.jpg" /></a></div>
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<a href="https://1.bp.blogspot.com/-KFCL1sVVmlc/XlkI1n8yRiI/AAAAAAAADW8/HI_QPeOfrrcL7S7XaB9-1cIwA0pQ5-qtwCNcBGAsYHQ/s1600/tawafi.jpg" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="345" data-original-width="540" src="https://1.bp.blogspot.com/-KFCL1sVVmlc/XlkI1n8yRiI/AAAAAAAADW8/HI_QPeOfrrcL7S7XaB9-1cIwA0pQ5-qtwCNcBGAsYHQ/s1600/tawafi.jpg" /></a></div>
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<span style="font-family: arial, helvetica, sans-serif;">Parwiz Daud and Mansour Tawafi were high ranked network leaders of OneLife.</span><br />
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<span style="font-family: arial, helvetica, sans-serif;">Parwiz Daud used to lie on his Facebook profile about having a position as a doctor at Leicester General Hospital. In fact he didn't even have a license to practise medicine in the U.K. Last time I checked he still has no license.</span><br />
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<span style="font-family: arial, helvetica, sans-serif;">AuLives doesn't have much traffic to its website according to Alexa.com so I guess their business hasn't been blooming.</span><br />
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<span style="font-family: arial, helvetica, sans-serif;">At the moment Parwiz Daud's Facebook profile says that Daud is the "Founder, Visionary & CEO" of something called </span><span style="font-family: arial, helvetica, sans-serif;">AURIIX. I didn't manage to find any information about AURIIX. It's of course possible that it's just related to AuLives somehow.</span><br />
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<h2>
<span style="font-family: arial, helvetica, sans-serif;">Amplivo (formerly know as Cloud Horizon)</span></h2>
<span style="font-family: arial, helvetica, sans-serif;">CEO: Frank Ricketts</span><br />
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<a href="https://1.bp.blogspot.com/-lN-rN0kIC4M/XlkJT-8LgJI/AAAAAAAADXE/Betv1ep0gqM68ojT4-iEwH31K9fapC-9gCNcBGAsYHQ/s1600/frank_ricketts.jpg" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="291" data-original-width="540" height="172" src="https://1.bp.blogspot.com/-lN-rN0kIC4M/XlkJT-8LgJI/AAAAAAAADXE/Betv1ep0gqM68ojT4-iEwH31K9fapC-9gCNcBGAsYHQ/s320/frank_ricketts.jpg" width="320" /></a></div>
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<span style="font-family: arial, helvetica, sans-serif;">Known henchmen:</span><br />
<span style="font-family: arial, helvetica, sans-serif;">Nattchaphan Sornsirenan</span><br />
<span style="font-family: arial, helvetica, sans-serif;">Staffan Liback</span><br />
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<a href="https://behindmlm.com/mlm-reviews/cloud-horizon-review-sitetalk-and-orientum-scams-combined/"><span style="font-family: arial, helvetica, sans-serif;">Read this post on BehindMLM to know more about this scam.</span></a><br />
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<span style="font-family: arial, helvetica, sans-serif;"><a href="https://seura.fi/asiat/tutkivat/onecoin-konkarien-pyorittama-cloud-horizon-verkosto-houkuttaa-suomalaisia-rikastumaan/">Cloud Horizon scam on Finnish Seura magazine.</a> (In Finnish)</span><br />
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<span style="font-family: arial, helvetica, sans-serif;">DagCoin</span></h2>
<span style="font-family: arial, helvetica, sans-serif;">Founder and CEO: Nils Grossberg</span><br />
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<tr><td style="text-align: center;"><a href="https://1.bp.blogspot.com/-BYwovtwAip4/WpP0kfByx3I/AAAAAAAACQQ/A3CsvX6tsjoNLYFcjxRRuq8u8bOsze2JQCPcBGAYYCw/s1600/nils_grossberg_kari_wahlroos.png" style="margin-left: auto; margin-right: auto;"><img border="0" data-original-height="441" data-original-width="262" src="https://1.bp.blogspot.com/-BYwovtwAip4/WpP0kfByx3I/AAAAAAAACQQ/A3CsvX6tsjoNLYFcjxRRuq8u8bOsze2JQCPcBGAYYCw/s1600/nils_grossberg_kari_wahlroos.png" /></a></td></tr>
<tr><td class="tr-caption" style="text-align: center;"><span style="font-family: arial, helvetica, sans-serif;">Nils Grossberg and Kari Wahlroos</span></td></tr>
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<span style="font-family: arial, helvetica, sans-serif;">Known henchmen:</span><br />
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<span style="font-family: arial, helvetica, sans-serif;">Kari Wahlroos </span></div>
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<span style="font-family: arial, helvetica, sans-serif;">Igor Alberts & Andreea Cimbala</span></div>
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<span style="font-family: arial, helvetica, sans-serif;">Everyone who has been following OneCoin knows who Wahlroos is. He was hired as a spokesman for OneCoin and he travelled around the globe delivering ponzi gospel to gullible people. And why wouldn't one trust a man who was offering to punch people with his fists: "If somebody comes to say to me that: OneLife is a scam. – Do you know what I do? I punch the face!"</span></div>
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<span style="font-family: arial, helvetica, sans-serif;">Igor Alberts and Andreea Cimbala left OneCoin after giving a public video statement about the reasons for their departure. They had finally realised that there was no blockchain and thus OneCoin was a scam. Before coming to that conclusion they must have made millions of euros with OneCoin so I think it was an awkwardly long and lucrative journey for them before learning the truth and finally start asking questions. They moved on to DagCoin right after leaving OneCoin, which</span><span style="font-family: arial, helvetica, sans-serif;"> is pretty much a clone of OneCoin. It seems to be nothing more than another ponzi coin. </span></div>
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<tr><td style="text-align: center;"><a href="https://1.bp.blogspot.com/-AeDIn5YS3Ww/Wl_50pS60RI/AAAAAAAACOE/BkQ0i5M0UkI6Q9mVZuDjRF3VWZlKA6O6ACPcBGAYYCw/s1600/igor_alberts.jpg" style="margin-left: auto; margin-right: auto;"><img border="0" data-original-height="376" data-original-width="540" src="https://1.bp.blogspot.com/-AeDIn5YS3Ww/Wl_50pS60RI/AAAAAAAACOE/BkQ0i5M0UkI6Q9mVZuDjRF3VWZlKA6O6ACPcBGAYYCw/s1600/igor_alberts.jpg" /></a></td></tr>
<tr><td class="tr-caption" style="text-align: center;"><span style="font-family: arial, helvetica, sans-serif;"> Andreea Cimbala and Igor Alberts.</span></td></tr>
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<span style="font-family: arial, helvetica, sans-serif;">According to <a href="https://trends.google.fi/trends/explore?date=2017-05-01%202020-02-28&q=dagcoin">Google Trends</a> DagCoin is (as a search term) most popular in Estonia and in some African countries. The official website has most of the traffic coming from Russia besides Estonia and Africa according to <a href="https://www.similarweb.com/website/dagcoin.org#overview">Similarweb</a>.</span></div>
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<a href="https://kusetukset.blogspot.com/2018/02/dagcoin-scam-following-footsteps-of.html"><span style="font-family: arial, helvetica, sans-serif;">My blog post about DagCoin.</span></a><br />
<a href="https://behindmlm.com/mlm-reviews/dagcoin-review-onecoin-affiliate-launches-ponzi-points-clone/"><span style="font-family: arial, helvetica, sans-serif;">DagCoin on BehindMLM.</span></a><br />
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<span style="font-family: arial, helvetica, sans-serif;">Dacxi</span></h2>
<span style="font-family: arial, helvetica, sans-serif;">Founder: Ed Ludbrook</span><br />
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<a href="https://1.bp.blogspot.com/-oQyx27OdH3A/W3_37QhzmYI/AAAAAAAACkw/8yOeu4fWaDg0ZYEYmGRLPowCz9EAdrZtgCPcBGAYYCw/s1600/Ludbrook_Asian_Ambassador.jpg" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="316" data-original-width="540" src="https://1.bp.blogspot.com/-oQyx27OdH3A/W3_37QhzmYI/AAAAAAAACkw/8yOeu4fWaDg0ZYEYmGRLPowCz9EAdrZtgCPcBGAYYCw/s1600/Ludbrook_Asian_Ambassador.jpg" /></a></div>
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<span style="font-family: arial, helvetica, sans-serif;">Edward Ludbrook was once "The Chief Leadership Officer" and later "the Asian Ambassador" of OneCoin. To bring credibility to OneCoin and to himself Ludbrook was also keen on boasting how he had advised the British government on the pyramid law legislation in the 90's. I don't know if that's true, but while he was a loyal lackey of OneCoin this e<i>xpert of pyramid legislation</i> was in fact urging people to disregard any warnings about OneCoin.</span><br />
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<span style="font-family: arial, helvetica, sans-serif;"><a href="https://behindmlm.com/mlm-reviews/dacxi-review-ed-ludbrooks-dac-ponzi-points/">Read more about Dacxi on BehindMLM.</a></span><br />
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<span style="font-family: verdana, sans-serif;">BitherCash</span></h2>
<span style="font-family: arial, helvetica, sans-serif;">It seems that BitherCash has been mostly marketed in United Arab Emirates and India. Almost all the web traffic to the official website of the scheme originates to those two countries according to <a href="https://www.alexa.com/siteinfo/bithercash.club">Alexa.com</a>.</span><br />
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<span style="font-family: arial, helvetica, sans-serif;"><a href="https://behindmlm.com/mlm-reviews/bithercash-review-bec-ponzi-points-bitconnect-lending-clone/">Here's an article on BehindMLM.</a></span><div><br /></div>Ari Widellhttp://www.blogger.com/profile/08889226197358610337noreply@blogger.com2tag:blogger.com,1999:blog-4779620886549453292.post-78626692084802664482020-01-30T17:45:00.000+02:002020-01-30T17:47:57.196+02:00PM-International & Fitline – dubious MLM of food supplements<div class="separator" style="clear: both; text-align: center;">
<a href="https://1.bp.blogspot.com/-A759Jpn2Vdw/XjL5RtO_4qI/AAAAAAAADT8/gN3s0cogycM5dvOhb3FP10FQWJywPtPmQCNcBGAsYHQ/s1600/fitllie_logo.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><span style="font-family: "arial" , "helvetica" , sans-serif;"><img border="0" data-original-height="264" data-original-width="528" src="https://1.bp.blogspot.com/-A759Jpn2Vdw/XjL5RtO_4qI/AAAAAAAADT8/gN3s0cogycM5dvOhb3FP10FQWJywPtPmQCNcBGAsYHQ/s1600/fitllie_logo.jpg" /></span></a></div>
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<span style="font-family: "arial" , "helvetica" , sans-serif;">PM-International was founded in 1993 in Germany by Rolf Sorg. According to the company's website it's one of Europe’s largest direct marketing companies in the areas of health, wellness and beauty.</span><br />
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<tr><td style="text-align: center;"><a href="https://1.bp.blogspot.com/-jj3icHq14eU/XjFvfGwrDJI/AAAAAAAADTY/mFHp7dh2v2oKBpYjTVxcDieoPUwqOpc0ACNcBGAsYHQ/s1600/rolf_sorg.jpg" imageanchor="1" style="margin-left: auto; margin-right: auto;"><span style="font-family: "arial" , "helvetica" , sans-serif;"><img border="0" data-original-height="413" data-original-width="540" height="244" src="https://1.bp.blogspot.com/-jj3icHq14eU/XjFvfGwrDJI/AAAAAAAADTY/mFHp7dh2v2oKBpYjTVxcDieoPUwqOpc0ACNcBGAsYHQ/s320/rolf_sorg.jpg" width="320" /></span></a></td></tr>
<tr><td class="tr-caption" style="text-align: center;"><span style="font-family: "arial" , "helvetica" , sans-serif;"><b>Rolf Sorg, the founder. What's the deal with those freaking hand signs and MLM nowadays? "L" for losers?</b></span></td></tr>
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<span style="font-family: "arial" , "helvetica" , sans-serif;">The company markets nutritional supplements (the FitLine series) and skin care (the FitLine skin series). All in all PM-International runs a very typical MLM business selling overpriced products and having an army of independent sales representatives doing all the dirty work for the company. This way the operation of the company itself is legal and everything goes by the books... or should we rather say in the gray area of empty bookshelves.</span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;">PM-International has been operating also here in Finland for several years. It has a highly profitable business which sold about 15 million euros worth of products profiting about 1.8 million euros in 2018 alone. And this is only the sales of the Finnish branch. </span><br />
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<tr><td style="text-align: center;"><a href="https://1.bp.blogspot.com/-ELalb6kzX6o/XjFrJNLQYQI/AAAAAAAADTM/g3DYCibpwEkFIpfat3v8pDrism3h8nR0wCNcBGAsYHQ/s1600/profit.jpg" imageanchor="1" style="margin-left: auto; margin-right: auto;"><span style="font-family: "arial" , "helvetica" , sans-serif;"><img border="0" data-original-height="525" data-original-width="540" src="https://1.bp.blogspot.com/-ELalb6kzX6o/XjFrJNLQYQI/AAAAAAAADTM/g3DYCibpwEkFIpfat3v8pDrism3h8nR0wCNcBGAsYHQ/s1600/profit.jpg" /></span></a></td></tr>
<tr><td class="tr-caption" style="text-align: center;"><a href="https://www.asiakastieto.fi/yritykset/fi/pm-international-finland-oy/10837525/taloustiedot"><span style="font-family: "arial" , "helvetica" , sans-serif;">Financial information of PM-International Finland Oy.</span></a></td></tr>
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<span style="font-family: "arial" , "helvetica" , sans-serif;">However, despite the company has been indisputably profitable the same doesn't apply to the network marketing side of the business. According to researchers the fact is that the vast majority of people – about 99 % – doing MLM lose money.</span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;">Quoting <a href="https://www.ftc.gov/sites/default/files/documents/public_comments/trade-regulation-rule-disclosure-requirements-and-prohibitions-concerning-business-opportunities-ftc.r511993-00008%C2%A0/00008-57281.pdf">The Case (for and) against Multi-level Marketing By Jon M. Taylor, MBA, Ph.D., Consumer Awareness Institute</a>:</span><br />
<span style="background-color: #fff2cc;"><span style="font-family: "arial" , "helvetica" , sans-serif;">"Our studies, along with those done by other independent analysts (not connected to the MLM industry), clearly prove that MLM as a business model – with its endless chain of recruitment of participants as primary customers – is flawed, unfair, and deceptive. Worldwide feedback suggests it is also extremely viral, predatory and harmful to many participants. This conclusion does not apply just to a specific MLM company, but to the entire MLM industry. It is a systemic problem. </span></span><br />
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<span style="background-color: #fff2cc;"><span style="font-family: "arial" , "helvetica" , sans-serif;">Of the 350 MLMs I have analyzed for which a complete compensation plan was available, 100% of them are recruitmentdriven and top-weighted. In other words, the vast majority of commissions paid by MLM companies go to a tiny percentage of TOPPs (top-of-the-pyramid promoters) at the expense of a revolving door of recruits, 99% of whom lose money. This is after subtracting purchases they must make to qualify for commissions and advancement in the scheme, to say nothing of minimal operating expenses for conducting an aggressive recruitment campaign – which (based on the compensation plans) is essential to get into the profit column."</span></span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;">During the years of operating here in Finland PM-International has under gone heavy criticism and deservedly so. In the early 2019 the company attempted to polish its public image by making <a href="https://www.yleisurheilu.fi/uutinen/fitline-suomen-urheiluliiton-kumppaniksi/">a sponsorship deal with Finnish Athletics Federation</a>.</span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;">Having athletes as marketing tools is of course a clever way to gain visibility and to support the marketing of food supplements. However, Finnish media didn't exactly play along with this. YLE headlined a news article about the deal as <a href="https://yle.fi/urheilu/3-10597921">"Young athletes get the euros they need for coaching, but at what price? New partner of Finnish Athletics Federation is a nutritional supplement company accused of misleading marketing, questioned by nutritionists"</a>.</span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;"><a href="https://www.iltalehti.fi/yleisurheilu/a/d836e679-e354-4642-b6c9-e2c514874d01">Finnish Iltalehti</a> on the other hand brought up PM-International's legal threats towards Juhani Knuuti (MD, PhD) after he had criticised the company <a href="https://blogit.ts.fi/terveys-tiede/fitline/">on his blog</a> in 2016. As a result from being threatened with legal actions Knuuti had <a href="https://blogit.ts.fi/terveys-tiede/fitline-uhkailun-anatomia/">published another blog post about the said legal threats</a> he received. </span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;">A representative of the company, Thorsten Nigge, approached Knuuti via WhatsApp message threatening him with a "bunch of expensive lawyers". Knuuti offered to correct any wrongful information presented on his blog if only the company could point out any incorrect information. As you might suspect he hasn't been sued and neither has the company provided any proof of Knuuti having misinformation on his blog.</span><br />
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<tr><td style="text-align: center;"><a href="https://1.bp.blogspot.com/-4A5_5LDRImQ/XjLxZG9vxII/AAAAAAAADTw/59fMjkfo7MIpO1ISlVE-A2JO9Gw6OXHFQCNcBGAsYHQ/s1600/juhani_knuuti.jpg" imageanchor="1" style="margin-left: auto; margin-right: auto;"><span style="font-family: "arial" , "helvetica" , sans-serif;"><img border="0" data-original-height="400" data-original-width="400" height="320" src="https://1.bp.blogspot.com/-4A5_5LDRImQ/XjLxZG9vxII/AAAAAAAADTw/59fMjkfo7MIpO1ISlVE-A2JO9Gw6OXHFQCNcBGAsYHQ/s320/juhani_knuuti.jpg" width="320" /></span></a></td></tr>
<tr><td class="tr-caption" style="text-align: center;"><span style="font-family: "arial" , "helvetica" , sans-serif;"><b>Juhani Knuuti</b></span></td></tr>
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<span style="font-family: "verdana" , sans-serif;">Cheyenne Järvinen removed the lid of the can of worms</span></h3>
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<span style="font-family: "arial" , "helvetica" , sans-serif;">Cheyenne Järvinen is a Finnish celebrity mostly known from yellow press and her social media channels. Having a reasonable amount of Finnish followers she has also attracted attention of some MLM reps of PM-International, especially after publishing criticism towards their business and Fitline products.</span><br />
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<tr><td style="text-align: center;"><a href="https://1.bp.blogspot.com/-O5NEl10XMvY/XjLMlDqWrYI/AAAAAAAADTk/X1dw9ZnMVi04rK1qS-bp4n_YHW5ldqMdwCNcBGAsYHQ/s1600/cheyenne_jarvinen.jpg" imageanchor="1" style="margin-left: auto; margin-right: auto;"><span style="font-family: "arial" , "helvetica" , sans-serif;"><img border="0" data-original-height="329" data-original-width="540" src="https://1.bp.blogspot.com/-O5NEl10XMvY/XjLMlDqWrYI/AAAAAAAADTk/X1dw9ZnMVi04rK1qS-bp4n_YHW5ldqMdwCNcBGAsYHQ/s1600/cheyenne_jarvinen.jpg" /></span></a></td></tr>
<tr><td class="tr-caption" style="text-align: center;"><span style="font-family: "arial" , "helvetica" , sans-serif;"><b>Cheyenne Järvinen – a pyramid scam hater, hated by Fitline's misleaders.</b></span></td></tr>
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<span style="font-family: "arial" , "helvetica" , sans-serif;">An article on Helsingin Sanomat lets us know that in the late 2019 Järvinen had shared a post on her Instagram of her friend's request to Fitline reps asking them to stop contacting her/him basically referring to their products as snake oil sales.</span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;">During the following weeks Järvinen received over thousand emails from people telling about questionable actions and methods of Fitline representatives. In addition she got her phone filled with screencaptures people had sent to her related to the subject.</span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;">Järvinen who has also personal experience of MLM business decided to start sharing information about the dubious ways Fitline reps were operating. Years ago Järvinen was recruited to market JuicePlus but she quit soon feeling deceived – I guess she learnt what most of MLM really is about.</span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;">She has also published an hour and a half lasting <a href="https://www.youtube.com/watch?v=axFi56pL7x8">video on YouTube revealing dirty details of Fitline business in Finland</a> (the video is entirely in Finnish). The video includes also audio evidence of some top reps talking to their downlines and making bullshit accusations towards Järvinen. According to the them Järvinen is envious, malicious, has financial difficulties and thus (for some unexplained reason) has only bad intentions towards Fitline. Some Fitline rep goes even as far as claiming that Järvinen has some mental problems.</span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;">All in all, the reactions of those Fitline reps remind a lot how brainwashed MLM misleaders usually act and behave. I myself have been called various things ever since I started blogging about scams. There has also been at least one police report filed against me about defamation. And I only happen to know about it because the person in question approached me and told me that. However, I wasn't ever contacted by the police or by any lawyers.</span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;">Like Juhani Knuuti also Järvinen found out that Fitline was often sold with misleading sales pitches by the representatives. Not surprisingly, Järvinen noted that the network marketing part of the business also had the very characteristics of a pyramid scam, where the focus is on growing the network and the products are an unwanted necessity.</span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;">The activity of Cheyenne Järvinen didn't get unnoticed by the CEO of PM-International Finland, Jussi-Pekka Teräs, who approached her with the following message (translated from Finnish):</span><br />
<span style="font-family: "arial" , "helvetica" , sans-serif;">"According to our understanding you have maybe against your better judgement began to spread hate speech against our company and our sales representatives in your social media channels and you have also infringed the trademark."</span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;">Järvinen responded to Teräs with series of questions about Fitline and the questionable acts of the MLM salespeople.</span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;">Teräs ended the conversation by letting Järvinen know that he was going to have the company's legal department investigate the "hate speech" and the trademark infringement. Järvinen told to Helsingin Sanomat that the accusation of trademark infringement was about the word "Fitline" being mentioned on her Instagram account.</span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;">More to read:</span><br />
<a href="https://www.hs.fi/nyt/art-2000006349594.html"><span style="font-family: "arial" , "helvetica" , sans-serif;">An article by Helsingin Sanomat about the YouTube vid by Cheyenne Järvinen</span></a><br />
<br />Ari Widellhttp://www.blogger.com/profile/08889226197358610337noreply@blogger.com0tag:blogger.com,1999:blog-4779620886549453292.post-3878167021905959072020-01-27T16:17:00.000+02:002020-01-27T17:07:02.598+02:00OneCoin's KYC is a lie, but valuable asset to the criminals<span style="font-family: "arial" , "helvetica" , sans-serif;">One of the things that has been used heavily in the marketing of OneCoin has been their KYC (Know Your Customer) procedure. In fact, KYC is the very essence that was supposed to make OneCoin superior to all other cryptocurrencies. According to the Gospel of Ruja KYC of each member has been imprinted in to the blockchain so that each coin contains a sort of fingerprint of the person possessing it.</span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;">Storing KYC information in the blockchain doesn't make any sense – not that OneCoin has any blockchain either. </span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;">Quoting the website onecoin.eu:</span><br />
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<span style="background-color: #fff2cc;"><span style="font-family: "arial" , "helvetica" , sans-serif;">"We are open and honest in our dealings. By being the first cryptocurrency storing KYC documents in its new blockchain, we set a new industry standard. Hence OneCoin makes cryptocurrency transparent and a part of our financial culture and everyday life. By working proactively with governments and policymakers, OneCoin helps the industry achieve better regulation."</span></span></div>
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<span style="font-family: "arial" , "helvetica" , sans-serif;">During these five years OneCoin has been running I have seen proofs that the company doesn't have problems approving also fake ID's. Yes, the KYC procedure of OneCoin has been occasionally tested with fake documents. Passing the inspection with fake ID's means that all the talk about the importance of KYC has been utter bullshit.</span></div>
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<tr><td style="text-align: center;"><img border="0" data-original-height="184" data-original-width="540" src="https://1.bp.blogspot.com/--hWSO03sUkI/Xi7my4Q7UcI/AAAAAAAADSQ/8YksgMq8eXcpp2DGlkFRC-bzXniHdP4qgCNcBGAsYHQ/s1600/KYC_approved.jpg" style="margin-left: auto; margin-right: auto;" /></td></tr>
<tr><td class="tr-caption" style="text-align: center;"><span style="font-family: "arial" , "helvetica" , sans-serif;"><b>Yes, I have seen fake ID's been approved. I don't post any pictures revealing the ID's of those fake persons though. God forbid if their OneCoin accounts were frozen!</b></span></td></tr>
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<a href="https://1.bp.blogspot.com/--hWSO03sUkI/Xi7my4Q7UcI/AAAAAAAADSQ/8YksgMq8eXcpp2DGlkFRC-bzXniHdP4qgCNcBGAsYHQ/s1600/KYC_approved.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><span style="font-family: "arial" , "helvetica" , sans-serif;"></span></a></div>
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<span style="font-family: "arial" , "helvetica" , sans-serif;">OneCoin's KYV (Know Your Victims) department appear to only check if ID's resemblance a real one. They obviously have no means or interest to check if a person really is who he/she claims to be. Thus in theory onecoins could be used to buy drugs, chemical weapons and to fund terrorism – if only anyone would be stupid enough to accept onecoins in exchange.</span></div>
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<span style="font-family: "arial" , "helvetica" , sans-serif;">A legitimate company would of course sue me for damaging their business by such claims if they were not true. However, OneCoin is not a legitimate company but a criminal organisation. And the information I have about the KYC-bullshit is a fact. </span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;">Further proof revealing us that OneCoin doesn't exactly need KYC is the fact that you can use onecoins even without having a KYC approved account:</span><br />
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<tr><td style="text-align: center;"><a href="https://1.bp.blogspot.com/-8m-2FmsxryA/Xi77VQof9RI/AAAAAAAADSw/0e3yhmBtidoZVdSAu8ruViK2s5hw1t5xwCNcBGAsYHQ/s1600/cryptoxpose.jpg" imageanchor="1" style="margin-left: auto; margin-right: auto;"><img border="0" data-original-height="230" data-original-width="540" height="136" src="https://1.bp.blogspot.com/-8m-2FmsxryA/Xi77VQof9RI/AAAAAAAADSw/0e3yhmBtidoZVdSAu8ruViK2s5hw1t5xwCNcBGAsYHQ/s320/cryptoxpose.jpg" width="320" /></a></td></tr>
<tr><td class="tr-caption" style="text-align: center;"><a href="https://twitter.com/CryptoXpose/status/1221809741292240896?s=20"><span style="font-family: Arial, Helvetica, sans-serif;"><b>Source</b></span></a></td></tr>
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<span style="font-family: "verdana" , sans-serif;">Passport copies can be a valuable asset in the hands of criminals</span></h3>
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<a href="https://1.bp.blogspot.com/-GEbjs0PgTYc/Xi7qjz-zODI/AAAAAAAADSk/rImSLjU2Sy8uGMvEAL7CGVXHYzHJwlzbQCNcBGAsYHQ/s1600/identity_theft.gif" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><span style="font-family: "arial" , "helvetica" , sans-serif;"><img border="0" data-original-height="177" data-original-width="268" src="https://1.bp.blogspot.com/-GEbjs0PgTYc/Xi7qjz-zODI/AAAAAAAADSk/rImSLjU2Sy8uGMvEAL7CGVXHYzHJwlzbQCNcBGAsYHQ/s1600/identity_theft.gif" /></span></a></div>
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<span style="font-family: "arial" , "helvetica" , sans-serif;">In the last 5 years OneCoin must have collected millions of copies of ID's; passports and driver's licences. The criminals running the show have also required the members to keep their KYC documents up to date. Hence OneCoin has a huge stock of copies of ID's, which are also a valuable asset in the hands of criminals.</span></div>
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<span style="font-family: "arial" , "helvetica" , sans-serif;">According to an article published on CNBC website:</span></div>
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<span style="background-color: #fff2cc;"><span style="font-family: "arial" , "helvetica" , sans-serif;">"Passport data sells in three formats on the darkweb, digital scans, templates for creating a finished passport and actual physical passports. These range in price from $5-$65 for scans, $29-$89 for templates and up to $5,000 for the finished product."</span></span></div>
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<span style="font-family: "arial" , "helvetica" , sans-serif;"><span style="background-color: white;">Source: </span><a href="https://www.cnbc.com/2019/07/05/how-criminals-use-stolen-passport-information.html">https://www.cnbc.com/2019/07/05/how-criminals-use-stolen-passport-information.html</a></span></div>
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<span style="background-color: white;"><span style="font-family: "arial" , "helvetica" , sans-serif;"><b>And here are the KYC requirements of OneCoin:</b></span></span></div>
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<span style="background-color: #fff2cc;"><span style="font-family: "arial" , "helvetica" , sans-serif;">Proof of Identity documents: </span></span></div>
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<li><span style="background-color: #fff2cc;"><span style="font-family: "arial" , "helvetica" , sans-serif;">Accepted:</span></span></li>
<li><span style="background-color: #fff2cc;"><span style="font-family: "arial" , "helvetica" , sans-serif;">National ID card - all sides must be scanned in one file</span></span></li>
<li><span style="background-color: #fff2cc;"><span style="font-family: "arial" , "helvetica" , sans-serif;">National Passport</span></span></li>
<li><span style="background-color: #fff2cc;"><span style="font-family: "arial" , "helvetica" , sans-serif;">International Passport</span></span></li>
<li><span style="background-color: #fff2cc;"><span style="font-family: "arial" , "helvetica" , sans-serif;">Driving Licenses</span></span></li>
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<span style="background-color: #fff2cc;"><span style="font-family: "arial" , "helvetica" , sans-serif;">The following details must be clearly visible: </span></span></div>
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<li><span style="background-color: #fff2cc;"><span style="font-family: "arial" , "helvetica" , sans-serif;">Personal photo </span></span></li>
<li><span style="background-color: #fff2cc;"><span style="font-family: "arial" , "helvetica" , sans-serif;">All personal names </span></span></li>
<li><span style="background-color: #fff2cc;"><span style="font-family: "arial" , "helvetica" , sans-serif;">Date of birth </span></span></li>
<li><span style="background-color: #fff2cc;"><span style="font-family: "arial" , "helvetica" , sans-serif;">Document serial number </span></span></li>
<li><span style="background-color: #fff2cc;"><span style="font-family: "arial" , "helvetica" , sans-serif;">Expiry date of the document (if available for the respective document) – In case of extended validity, please upload in one file the main identity page + the page with the extended validity </span></span></li>
<li><span style="background-color: #fff2cc;"><span style="font-family: "arial" , "helvetica" , sans-serif;">Machine readable zone (if available – these are the encoded in optical character recognition format lines at the bottom of the identity page of the document) </span></span></li>
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<span style="background-color: #fff2cc;"><span style="font-family: "arial" , "helvetica" , sans-serif;">If your Identity Document has no expiry date then on menu My Profile > Profile > PASSPORT/ID CARD EXPIRY DATE fill in 31.12.9999 in the following format DD.MM.YYYY.</span></span></div>
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<span style="background-color: white;"><span style="font-family: "arial" , "helvetica" , sans-serif;">(– LOL! So why expiring ID's have to be updated then?)</span></span></div>
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<span style="font-family: "arial" , "helvetica" , sans-serif;"><span style="background-color: #fff2cc;">Important: </span><span style="background-color: #fff2cc;">Only clearly scanned high-resolution images having all details visible will be accepted. KYC documents should not contain visible pixels or dot patterns. All scanned KYC documents must be in color.</span></span></div>
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<span style="background-color: white;"><span style="font-family: "arial" , "helvetica" , sans-serif;">Imagine someone at the Sofia office manually inputting information from a Chinese driver's license to OneCoin's blockchain. Well, actually there is no staff left if Simon Le and King Jayms didn't already chip in to hire a new one... I feel sorry for the ones desperate enough to apply for a work in this criminal organisation.</span></span></div>
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<span style="font-family: "arial" , "helvetica" , sans-serif;">P.S.</span></div>
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<span style="font-family: "arial" , "helvetica" , sans-serif;">Dear compliance department of OneCoin, have fun going through your huge stock of ID's trying to find those fake ones I was talking about! You'd really had to know your customers to find them.</span></div>
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Ari Widellhttp://www.blogger.com/profile/08889226197358610337noreply@blogger.com0tag:blogger.com,1999:blog-4779620886549453292.post-58638853012635872662020-01-20T14:54:00.000+02:002020-01-20T15:06:55.714+02:00GXT Token – A scam mixing diamond trade with blockchain<div class="separator" style="clear: both; text-align: center;">
<a href="https://1.bp.blogspot.com/-qnlXMf8dNqo/XiWkpUQxdpI/AAAAAAAADRo/ruXB1mtZYDUTyHtETM2N_zyihSHPjXXWgCNcBGAsYHQ/s1600/GXT_logo.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="262" data-original-width="300" src="https://1.bp.blogspot.com/-qnlXMf8dNqo/XiWkpUQxdpI/AAAAAAAADRo/ruXB1mtZYDUTyHtETM2N_zyihSHPjXXWgCNcBGAsYHQ/s1600/GXT_logo.jpg" /></a></div>
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<span style="font-family: "arial" , "helvetica" , sans-serif;">I got a request on Twitter to make a blog post about GXT Token. I had never even heard about it but I decided to check out what was it all about and whether there was any clear signs of a scam visible.</span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;">I'm not going to jabber much about the business model of GXT Token and not dive deep in to the blockchain side of the business because it didn't take long to find some clear signs indicating that GXT Token is not to be trusted.</span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;">To put the basics short GXT Token claims to have a business combining blockchain technology and diamond trading. Quoting the vision of GXT: </span><br />
<span style="background-color: #fff2cc; font-family: "arial" , "helvetica" , sans-serif;">"If the price of diamonds falls, they can be protected at a price of a nose. If the price of the Coin drops, you can defend it with diamonds."</span><br />
<span style="font-family: "arial" , "helvetica" , sans-serif;">– Yes, it's a direct quote. It actually says "nose" there. In fact the whole poorly designed website has a lot of badly written English. </span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;">The roadmap on the webpage indicates that GXT is probably targeting mostly Asians and South America:</span><br />
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<table align="center" cellpadding="0" cellspacing="0" class="tr-caption-container" style="margin-left: auto; margin-right: auto; text-align: center;"><tbody>
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<tr><td class="tr-caption" style="text-align: center;"><span style="font-family: "arial" , "helvetica" , sans-serif;">"Ma<b>r</b>ster Node Marketing Road Map" (click to enlarge)</span></td></tr>
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<span style="font-family: "arial" , "helvetica" , sans-serif;">The webpage includes a white paper and other marketing nonsense to lure victims to participate. There are also luxury brand logos attached. I don't think any of those brands have nothing to do with GXT though:</span><br />
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<tr><td style="text-align: center;"><a href="https://1.bp.blogspot.com/-Aw_eddWZnKs/XiWHT-OEHtI/AAAAAAAADQY/I_FgnflCdOwLRwbwhje6n-S3OyIHDKTOQCNcBGAsYHQ/s1600/luxury_brands.jpg" imageanchor="1" style="margin-left: auto; margin-right: auto;"><span style="font-family: "arial" , "helvetica" , sans-serif;"><img border="0" data-original-height="564" data-original-width="1600" height="112" src="https://1.bp.blogspot.com/-Aw_eddWZnKs/XiWHT-OEHtI/AAAAAAAADQY/I_FgnflCdOwLRwbwhje6n-S3OyIHDKTOQCNcBGAsYHQ/s320/luxury_brands.jpg" width="320" /></span></a></td></tr>
<tr><td class="tr-caption" style="text-align: center;"><span style="font-family: "arial" , "helvetica" , sans-serif;">Click to enlarge.</span></td></tr>
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<span style="font-family: "arial" , "helvetica" , sans-serif;">However, the cherry is at the bottom. There we have a picture gallery of the team involved in GXT. At first it looks impressive but taking a closer look reveals that many of the people seem to be fake persons. The rest of the members might only have a little to do with the scam and they can even be unaware of the true nature of the business.</span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;">Here's the whole team:</span><br />
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<a href="https://1.bp.blogspot.com/-X9wnjyBfAHE/XiWIqPnVVUI/AAAAAAAADQk/_r0sJ_lWcYYW1EdbcmzlGX3TPLXlrff6QCNcBGAsYHQ/s1600/team_0.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><span style="font-family: "arial" , "helvetica" , sans-serif;"><img border="0" data-original-height="635" data-original-width="1600" height="126" src="https://1.bp.blogspot.com/-X9wnjyBfAHE/XiWIqPnVVUI/AAAAAAAADQk/_r0sJ_lWcYYW1EdbcmzlGX3TPLXlrff6QCNcBGAsYHQ/s320/team_0.jpg" width="320" /></span></a></div>
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<a href="https://1.bp.blogspot.com/-pbv8Ytd5yr4/XiWItg3M-II/AAAAAAAADQo/pSGcU8-yv0M1_P5QVn3TKGF2drLo5dkRwCNcBGAsYHQ/s1600/team_1.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><span style="font-family: "arial" , "helvetica" , sans-serif;"><img border="0" data-original-height="511" data-original-width="1600" height="102" src="https://1.bp.blogspot.com/-pbv8Ytd5yr4/XiWItg3M-II/AAAAAAAADQo/pSGcU8-yv0M1_P5QVn3TKGF2drLo5dkRwCNcBGAsYHQ/s320/team_1.jpg" width="320" /></span></a></div>
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<a href="https://1.bp.blogspot.com/-WiOQpdhkjEE/XiWIxasT1EI/AAAAAAAADQs/OtpL8hp0dgk-cwotpegKEDp03JYJ9seywCNcBGAsYHQ/s1600/team_2.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><span style="font-family: "arial" , "helvetica" , sans-serif;"><img border="0" data-original-height="470" data-original-width="1600" height="93" src="https://1.bp.blogspot.com/-WiOQpdhkjEE/XiWIxasT1EI/AAAAAAAADQs/OtpL8hp0dgk-cwotpegKEDp03JYJ9seywCNcBGAsYHQ/s320/team_2.jpg" width="320" /></span></a></div>
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<a href="https://1.bp.blogspot.com/-TpUcd8Li4_U/XiWJB-ddP1I/AAAAAAAADQ4/hpar57tL6Mk7mIoJtMOAAiitpxqafukaQCNcBGAsYHQ/s1600/team_3.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><span style="font-family: "arial" , "helvetica" , sans-serif;"><img border="0" data-original-height="464" data-original-width="1600" height="92" src="https://1.bp.blogspot.com/-TpUcd8Li4_U/XiWJB-ddP1I/AAAAAAAADQ4/hpar57tL6Mk7mIoJtMOAAiitpxqafukaQCNcBGAsYHQ/s320/team_3.jpg" width="320" /></span></a></div>
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<span style="font-family: "arial" , "helvetica" , sans-serif;">First of all, most of the members of the team seem to exist only on GXT's webpage. The pictures of those individuals show signs of hampering which is almost a certain sign that these pictures have been bought from a image gallery.</span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;">In addition the scammers have made some sloppy work with some of the fake personalities. For example Francisco Gordillo seems to be a totally different man on his LinkedIn profile page:</span><br />
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<tr><td style="text-align: center;"><a href="https://1.bp.blogspot.com/-zW9u5i5uOTY/XiWMqJFdIaI/AAAAAAAADRE/tpXAnEpBqIoDyLrmMz21Zx2uci3_dG6FQCNcBGAsYHQ/s1600/gordillo.jpg" imageanchor="1" style="margin-left: auto; margin-right: auto;"><span style="font-family: "arial" , "helvetica" , sans-serif;"><img border="0" data-original-height="1600" data-original-width="630" height="320" src="https://1.bp.blogspot.com/-zW9u5i5uOTY/XiWMqJFdIaI/AAAAAAAADRE/tpXAnEpBqIoDyLrmMz21Zx2uci3_dG6FQCNcBGAsYHQ/s320/gordillo.jpg" width="125" /></span></a></td></tr>
<tr><td class="tr-caption" style="text-align: center;"><span style="font-family: "arial" , "helvetica" , sans-serif;">Click to enlarge.</span></td></tr>
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<span style="font-family: "arial" , "helvetica" , sans-serif;"><br /></span>
<span style="font-family: "arial" , "helvetica" , sans-serif;">Also Financial Officer Julian Jones seems to be a totally different person on his LinkedIn page:</span><br />
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<table align="center" cellpadding="0" cellspacing="0" class="tr-caption-container" style="margin-left: auto; margin-right: auto; text-align: center;"><tbody>
<tr><td style="text-align: center;"><a href="https://1.bp.blogspot.com/-e78_VukK9eU/XiWOReTlpQI/AAAAAAAADRQ/ym6CuRo5nd0LZ482SJj7V3hAdviwxksOQCNcBGAsYHQ/s1600/jones.jpg" imageanchor="1" style="margin-left: auto; margin-right: auto;"><span style="font-family: "arial" , "helvetica" , sans-serif;"><img border="0" data-original-height="1600" data-original-width="782" height="320" src="https://1.bp.blogspot.com/-e78_VukK9eU/XiWOReTlpQI/AAAAAAAADRQ/ym6CuRo5nd0LZ482SJj7V3hAdviwxksOQCNcBGAsYHQ/s320/jones.jpg" width="156" /></span></a></td></tr>
<tr><td class="tr-caption" style="text-align: center;"><table align="center" cellpadding="0" cellspacing="0" class="tr-caption-container" style="margin-left: auto; margin-right: auto; text-align: center;"><tbody>
<tr><td class="tr-caption" style="font-size: 12.8px;"><span style="font-family: "arial" , "helvetica" , sans-serif;">Click to enlarge.</span></td></tr>
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<span style="font-family: "arial" , "helvetica" , sans-serif;">I did manage to find evidence that one of the CEO's of GXT, Scott Matheina, seems to be a real person. He also has some prior experience in a blockchain related project. He was hired to <a href="https://medium.com/@boscoin/newsletter-2017-oct-13th-9bd1e8d7ae0c">handle communication of BOScoin a couple of years ago</a>. In addition to Matheina there might be at least four other people besides him who are not fake. </span><br />
<br />
<span style="font-family: "arial" , "helvetica" , sans-serif;">Anyway, I think there are enough red flags for me to consider that GXT Token shouldn't be trusted and I consider it being a scam.</span><br />
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<table align="center" cellpadding="0" cellspacing="0" class="tr-caption-container" style="margin-left: auto; margin-right: auto; text-align: center;"><tbody>
<tr><td style="text-align: center;"><a href="https://1.bp.blogspot.com/-NtEDqmrUjLw/XiWffFiI2LI/AAAAAAAADRc/LxlRnuTZKysS4WLneOQbzXea0JKSqODAgCNcBGAsYHQ/s1600/role_of_GXT.jpg" imageanchor="1" style="margin-left: auto; margin-right: auto;"><img border="0" data-original-height="1600" data-original-width="1440" height="320" src="https://1.bp.blogspot.com/-NtEDqmrUjLw/XiWffFiI2LI/AAAAAAAADRc/LxlRnuTZKysS4WLneOQbzXea0JKSqODAgCNcBGAsYHQ/s320/role_of_GXT.jpg" width="287" /></a></td></tr>
<tr><td class="tr-caption" style="text-align: center;"><span style="font-family: "arial" , "helvetica" , sans-serif;">A screencap from GXT web site. (Click to enlarge)</span></td></tr>
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<span style="font-family: "arial" , "helvetica" , sans-serif;"><br /></span>Ari Widellhttp://www.blogger.com/profile/08889226197358610337noreply@blogger.com0tag:blogger.com,1999:blog-4779620886549453292.post-27739188016348539202020-01-17T17:11:00.000+02:002020-01-22T20:33:58.088+02:00OneCoin – Meet the new manager<span style="font-family: "arial" , "helvetica" , sans-serif;">One could easily err to think that OneCoin would be over by now. Ruja Ignatova abandoned OneCoin years ago and her brother Konstantin got arrested in February 2019. His trial led to a plea deal and confession that the whole business was a hoax and created only to deceive people. Subsequently there has been a mass of (mis)leaders abandoning the sunken scam ship. I'm sure many of their victims have followed them.</span><br />
<span style="font-family: "arial" , "helvetica" , sans-serif;"><br /></span>
<span style="font-family: "arial" , "helvetica" , sans-serif;">The remaining members and leaders haven't had much to cheer about. Yes, as crazy as it may sound there still are a lot of members believing that OneCoin is real. They just ignore all the evidence, facts and even basic rules of economics.</span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;">According to the imaginary value of the coin there are over 3.500 billion euros worth of coins distributed to the members. The members living in denial are still waiting for an exchange to be launched so that they could start selling their possessions. They simply don't seem to understand that no one is interested in buying those coins. While waiting for the exchange they eagerly accept any excuses and lies to keep their dreams alive. It doesn't even matter that Konstantin has already confessed that OneCoin was nothing but a scam.</span><br />
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<h3>
<span style="font-family: "verdana" , sans-serif;">Meet the new manager</span></h3>
<span style="font-family: "arial" , "helvetica" , sans-serif;"><br /></span>
<span style="font-family: "arial" , "helvetica" , sans-serif;">The managers of OneCoin related companies haven't been much in public. For instance, the vast majority of the members don't have a clue who Christian Manolov is despite he was once the manager and owner of the most prominent companies involved in OneCoin's operations.</span><br />
<span style="font-family: "arial" , "helvetica" , sans-serif;"><br /></span>
<span style="font-family: "arial" , "helvetica" , sans-serif;">Quoting Bulgarian Capital:</span><br />
<span style="background-color: #fff2cc; font-family: "arial" , "helvetica" , sans-serif;">"Bulgarian companies around OneCoin have undergone several transformations in ownership and management over the years. Lastly, in late 2016 and early 2017, ties with Ruzha Ignatova and her mother Veska were cut off, with companies finding themselves unknown owners and managers - young people with no corporate history and all indications that they were fraudulent. For example, at One Network Services, the owner was Pegaron Invest, which in turn was owned by Artefix Europe. The latter was sold by Veska Ignatova to then-25-year-old Christian Manolov for an unknown amount, and he also became the manager of One Network Services."</span><br />
<span style="font-family: "arial" , "helvetica" , sans-serif;"><br /></span>
<a href="https://translate.google.fi/translate?hl=fi&sl=bg&tl=en&u=https%3A%2F%2Fwww.capital.bg%2Fbiznes%2Fkompanii%2F2018%2F04%2F29%2F3170339_onecoin_i_spiralata_na_sobstvenostta%2F"><span style="font-family: "arial" , "helvetica" , sans-serif;">(Read more about Manolov and OneCoin's shady companies from Bulgarian Capital.)</span></a><br />
<span style="font-family: "arial" , "helvetica" , sans-serif;"><br /></span>
<span style="font-family: "arial" , "helvetica" , sans-serif;">Currently a person named Angel Rumenov Boyadzhiyski is the manager and owner of several companies involved in the core of OneCoin's business. Boyadzhiyski was appointed to his position in those companies maybe a year ago.</span><br />
<span style="font-family: "arial" , "helvetica" , sans-serif;"><br /></span>
<span style="font-family: "arial" , "helvetica" , sans-serif;">We didn't even have a picture of Christian Manolov but <a href="https://behindmlm.com/companies/onecoin/onecoin-website-down-dns-record-under-investigation/#comment-419197">someone recently happened to find out who this Angel Boyadzhiyski is</a>. It turned out that Angel Boyadzhiyski (aka Foxi Boyadzhiyski) is some sort of security guy at OneCoin's HQ in Sofia and apparently also the stooge appointed as a manager/owner to at least four OneCoin related companies.</span><br />
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<tr><td style="text-align: center;"><a href="https://1.bp.blogspot.com/-dj8y8ttH-XU/Xhxqv3i71AI/AAAAAAAADNk/6n_5LqWtNgkpd7tuFlF-ps2M4Fex21mEQCNcBGAsYHQ/s1600/foxi_desk.jpg" imageanchor="1" style="margin-left: auto; margin-right: auto;"><span style="font-family: "arial" , "helvetica" , sans-serif;"><img border="0" data-original-height="433" data-original-width="540" src="https://1.bp.blogspot.com/-dj8y8ttH-XU/Xhxqv3i71AI/AAAAAAAADNk/6n_5LqWtNgkpd7tuFlF-ps2M4Fex21mEQCNcBGAsYHQ/s1600/foxi_desk.jpg" /></span></a></td></tr>
<tr><td class="tr-caption" style="text-align: center;"><span style="font-size: small; text-align: start;"><span style="font-family: "arial" , "helvetica" , sans-serif;">Angel Boyadzhiyski (aka Foxi Boyadzhiyski)</span></span></td></tr>
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<span style="font-family: "arial" , "helvetica" , sans-serif;"><br /></span>
<span style="font-family: "arial" , "helvetica" , sans-serif;">And these are not just companies. They are the very companies who are the registrants of the following domains:</span><br />
<span style="font-family: "arial" , "helvetica" , sans-serif;">onelife.eu</span><br />
<span style="font-family: "arial" , "helvetica" , sans-serif;">onecoin.eu</span><br />
<span style="font-family: "arial" , "helvetica" , sans-serif;">dealshaker.eu</span><br />
<span style="font-family: "arial" , "helvetica" , sans-serif;"><br /></span>
<span style="font-family: "arial" , "helvetica" , sans-serif;">Here is more information about the companies:</span><br />
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p.p1 {margin: 0.0px 0.0px 0.0px 0.0px; font: 10.0px Helvetica}
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<td class="td1" valign="top"><div class="p1">
<b><span style="font-family: "arial" , "helvetica" , sans-serif; font-size: small;">Artefix Europe EOOD</span></b></div>
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<b><span style="font-family: "arial" , "helvetica" , sans-serif; font-size: small;">Registrant of domain: dealshaker.eu</span></b></div>
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<b><span style="font-family: "arial" , "helvetica" , sans-serif; font-size: small;">Manager: Angel Boyadzhiyski</span></b></div>
<div class="p1">
<b><span style="font-family: "arial" , "helvetica" , sans-serif; font-size: small;">Capital: 100 EUR</span></b></div>
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<td class="td1" valign="top"><div class="p2">
<span style="font-family: "arial" , "helvetica" , sans-serif; font-size: small;"><b></b><br /></span></div>
</td>
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<td class="td1" valign="top"><div class="p1">
<span style="font-family: "arial" , "helvetica" , sans-serif; font-size: small;"><b>Business Edge Solutions Ltd </b><b>EOOD</b></span></div>
<div class="p1">
<b><span style="font-family: "arial" , "helvetica" , sans-serif; font-size: small;">Manager: Angel Boyadzhiyski</span></b></div>
<div class="p1">
<span style="font-family: "arial" , "helvetica" , sans-serif; font-size: small;"><b>Sole Owner of the Capital: Artefix Europe </b><b>EOOD</b></span></div>
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<b><span style="font-family: "arial" , "helvetica" , sans-serif; font-size: small;">Capital: 1000 BGN (= about 510 EUR)</span></b></div>
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<td class="td1" valign="top"><div class="p2">
<span style="font-family: "arial" , "helvetica" , sans-serif; font-size: small;"><b></b><br /></span></div>
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<td class="td1" valign="top"><div class="p1">
<span style="font-family: "arial" , "helvetica" , sans-serif; font-size: small;"><b>One Network Services LTD </b><b>EOOD</b></span></div>
<div class="p1">
<b><span style="font-family: "arial" , "helvetica" , sans-serif; font-size: small;">Registrant of domain: onelife.eu</span></b></div>
<div class="p1">
<b><span style="font-family: "arial" , "helvetica" , sans-serif; font-size: small;">Registrant of domain: onecoin.eu</span></b></div>
<div class="p1">
<b><span style="font-family: "arial" , "helvetica" , sans-serif; font-size: small;">Manager: Angel Boyadzhiyski</span></b></div>
<div class="p1">
<span style="font-family: "arial" , "helvetica" , sans-serif; font-size: small;"><b>Sole Owner of the Capital: Business Edge Solutions Ltd </b><b>EOOD</b></span></div>
<div class="p1">
<b><span style="font-family: "arial" , "helvetica" , sans-serif; font-size: small;">Capital: 5000 BGN (= about 2500 EUR)</span></b></div>
</td>
</tr>
<tr>
<td class="td1" valign="top"><div class="p2">
<span style="font-family: "arial" , "helvetica" , sans-serif; font-size: small;"><b></b><br /></span></div>
</td>
</tr>
<tr>
<td class="td1" valign="top"><div class="p1">
<b><span style="font-family: "arial" , "helvetica" , sans-serif; font-size: small;">BlockWave Tech Ltd</span></b></div>
<div class="p1">
<b><span style="font-family: "arial" , "helvetica" , sans-serif; font-size: small;">Manager: Angel Boyadzhiyski</span></b></div>
<div class="p1">
<span style="font-family: "arial" , "helvetica" , sans-serif; font-size: small;"><b>Sole Owner of the Capital: One Network Services LTD </b><b>EOOD</b></span></div>
<div class="p1">
<b><span style="font-family: "arial" , "helvetica" , sans-serif; font-size: small;">Capital: 1500 BGN (= about 770 EUR)</span></b></div>
</td>
</tr>
</tbody>
</table>
<span style="font-family: "arial" , "helvetica" , sans-serif;"><br />As you can see Angel Boyadzhiyski is the sole owner and manager of all those companies.</span><br />
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<h3>
<span style="font-family: "verdana" , sans-serif;">New Captain and a Co-Captain for the OneLife shipwreck</span></h3>
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<span style="font-family: "arial" , "helvetica" , sans-serif;"><br /></span></div>
<div>
<span style="font-family: "arial" , "helvetica" , sans-serif;">At the end of last year a group of high caliber misleaders of the OneLife network invaded the Sofia office. They were welcomed by the new manager Angel Boyadzhiyski who let the flock in to the premises. Videos of the occasion show that there are no employees left and the building has been pretty much emptied from furniture. Even paintings have been removed from the walls and the office truly seems to be abandoned.</span></div>
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<span style="font-family: "arial" , "helvetica" , sans-serif;"><iframe allowfullscreen="" class="YOUTUBE-iframe-video" data-thumbnail-src="https://i.ytimg.com/vi/1nfwHsfseFQ/0.jpg" frameborder="0" height="266" src="https://www.youtube.com/embed/1nfwHsfseFQ?feature=player_embedded" width="320"></iframe></span></div>
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<div>
<span style="font-family: "arial" , "helvetica" , sans-serif;">Later it was announced that Simon Le is the new captain of the shipwreck and his Co-Captain is King Jayms. Yes, the same "King" who published a video of him <a href="https://kusetukset.blogspot.com/2019/10/onecoin-glg-member-pretending-to-kill.html">pretending to shoot haters</a>. The same King who was behind <a href="https://kusetukset.blogspot.com/2019/10/free-konstantin-petition-to-distract.html">the petition aiming to free Konstantin Ignatov from jail</a>.</span></div>
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<span style="font-family: "arial" , "helvetica" , sans-serif;"><br /></span></div>
<table align="center" cellpadding="0" cellspacing="0" class="tr-caption-container" style="margin-left: auto; margin-right: auto; text-align: center;"><tbody>
<tr><td style="text-align: center;"><a href="https://1.bp.blogspot.com/-otzGt7gjasQ/XiHD45Nmy7I/AAAAAAAADPM/NTJrQaIasUsMfjkn8xvQyeov3ip6pdaHACNcBGAsYHQ/s1600/simon_le.jpg" imageanchor="1" style="margin-left: auto; margin-right: auto;"><span style="font-family: "arial" , "helvetica" , sans-serif;"><img border="0" data-original-height="600" data-original-width="540" height="320" src="https://1.bp.blogspot.com/-otzGt7gjasQ/XiHD45Nmy7I/AAAAAAAADPM/NTJrQaIasUsMfjkn8xvQyeov3ip6pdaHACNcBGAsYHQ/s320/simon_le.jpg" width="288" /></span></a></td></tr>
<tr><td class="tr-caption" style="text-align: center;"><span style="font-family: "arial" , "helvetica" , sans-serif;">Simon Le, the new captain</span></td></tr>
</tbody></table>
<div>
<span style="font-family: "arial" , "helvetica" , sans-serif;"><br /></span></div>
<table align="center" cellpadding="0" cellspacing="0" class="tr-caption-container" style="margin-left: auto; margin-right: auto; text-align: center;"><tbody>
<tr><td style="text-align: center;"><a href="https://1.bp.blogspot.com/-1xRvUrst62s/XiHEuZXpPpI/AAAAAAAADPU/W4timyykF4EFdE89vZiHcwszswcqrRXnQCNcBGAsYHQ/s1600/king_jayms.jpg" imageanchor="1" style="margin-left: auto; margin-right: auto;"><span style="font-family: "arial" , "helvetica" , sans-serif;"><img border="0" data-original-height="855" data-original-width="540" height="320" src="https://1.bp.blogspot.com/-1xRvUrst62s/XiHEuZXpPpI/AAAAAAAADPU/W4timyykF4EFdE89vZiHcwszswcqrRXnQCNcBGAsYHQ/s320/king_jayms.jpg" width="202" /></span></a></td></tr>
<tr><td class="tr-caption" style="text-align: center;"><span style="font-family: "arial" , "helvetica" , sans-serif;">King Jayms, the co-captain</span></td></tr>
</tbody></table>
<div>
<span style="font-family: "arial" , "helvetica" , sans-serif;"><br /></span></div>
<div>
<span style="font-family: "arial" , "helvetica" , sans-serif;">What's left from the scam is webinars on Wednesdays. They are mostly boring slideshows by Simon Le, leaders calling each other brothers and sisters, giving excuses and blaming haters for all that is wrong with OneCoin, talking about OneLife "family", King Jayms shouting like a tv evangelist. </span></div>
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<h3>
<span style="font-family: "verdana" , sans-serif;">No exchange</span></h3>
<div>
<span style="font-family: "arial" , "helvetica" , sans-serif;"><br /></span></div>
<div>
<span style="font-family: "arial" , "helvetica" , sans-serif;">The new misleadership already announced that there isn't going to be an exchange. Quoting King Jayms: "I believe now is the time for us to think about OneAcademy and usability and push what we are set out to do. The days of people selling coins is done." (Webinar "Corporate Updates and Development" below.)</span></div>
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<span style="font-family: "arial" , "helvetica" , sans-serif;"><br /></span></div>
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<span style="font-family: "arial" , "helvetica" , sans-serif;"><iframe allowfullscreen="" class="YOUTUBE-iframe-video" data-thumbnail-src="https://i.ytimg.com/vi/vl1GjwFnyxA/0.jpg" frameborder="0" height="266" src="https://www.youtube.com/embed/vl1GjwFnyxA?feature=player_embedded" width="320"></iframe></span></div>
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<br />
<h4>
<span style="font-family: "arial" , "helvetica" , sans-serif;">Update January 20:</span></h4>
<span style="font-family: "arial" , "helvetica" , sans-serif;"><br /></span>
<span style="font-family: "arial" , "helvetica" , sans-serif;"><br /></span>
<br />
<h3>
<span style="font-family: "verdana" , sans-serif;">The new roadmap</span></h3>
<span style="font-family: "arial" , "helvetica" , sans-serif;"><br /></span>
<span style="font-family: "arial" , "helvetica" , sans-serif;">The new misleadership has already published a new roadmap about their future plans. The hand-sketched roadmap shows delusional plans to grow the number of merchants in the DealShaker platform to 1 million.</span><br />
<span style="font-family: "arial" , "helvetica" , sans-serif;"><br /></span>
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<table align="center" cellpadding="0" cellspacing="0" class="tr-caption-container" style="margin-left: auto; margin-right: auto; text-align: center;"><tbody>
<tr><td style="text-align: center;"><a href="https://1.bp.blogspot.com/-AoB1daa6SKk/XiVfePHibxI/AAAAAAAADPw/Y7dqwiCvIrQ8hQUpRoWi9AoYExdKeYJxQCNcBGAsYHQ/s1600/roadmap.jpg" imageanchor="1" style="margin-left: auto; margin-right: auto;"><span style="font-family: "arial" , "helvetica" , sans-serif;"><img border="0" data-original-height="1114" data-original-width="1600" height="222" src="https://1.bp.blogspot.com/-AoB1daa6SKk/XiVfePHibxI/AAAAAAAADPw/Y7dqwiCvIrQ8hQUpRoWi9AoYExdKeYJxQCNcBGAsYHQ/s320/roadmap.jpg" width="320" /></span></a></td></tr>
<tr><td class="tr-caption" style="text-align: center;"><span style="font-family: "arial" , "helvetica" , sans-serif;">The new roadmap.</span></td></tr>
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<div>
<span style="font-family: "arial" , "helvetica" , sans-serif;">Actually OneCoin had already set the exact same goal years ago and <a href="http://kusetukset.blogspot.com/2018/01/onecoin-dealshakers-new-years-flush.html">planned to achieve 1 million merchants by the middle of 2018</a>:</span></div>
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<table align="center" cellpadding="0" cellspacing="0" class="tr-caption-container" style="margin-left: auto; margin-right: auto; text-align: center;"><tbody>
<tr><td style="text-align: center;"><a href="https://1.bp.blogspot.com/-7SeARdvfQ3k/Wk4K0wYGgUI/AAAAAAAACKo/CO6WP7HjjvcjA_pB46UTzGvTphIXTfH-ACPcBGAYYCw/s1600/delusional.jpg" imageanchor="1" style="margin-left: auto; margin-right: auto;"><span style="font-family: "arial" , "helvetica" , sans-serif;"><img border="0" data-original-height="253" data-original-width="540" height="149" src="https://1.bp.blogspot.com/-7SeARdvfQ3k/Wk4K0wYGgUI/AAAAAAAACKo/CO6WP7HjjvcjA_pB46UTzGvTphIXTfH-ACPcBGAYYCw/s320/delusional.jpg" width="320" /></span></a></td></tr>
<tr><td class="tr-caption" style="text-align: center;"><span style="font-family: "arial" , "helvetica" , sans-serif;">– Remember the vision?</span></td></tr>
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<span style="font-family: "arial" , "helvetica" , sans-serif;"><br /></span>
<span style="font-family: "arial" , "helvetica" , sans-serif;">Currently there are about 24k deals on the platform. The number of the deals has been around 20k for years so they are lucky to have maybe 5.000 – 10.000 actual merchants there. Getting 1 million merchants scammed to sign up to a worldwide known ponzi-pyramid isn't going to be easy but then again the leadership can redraw the roadmap every two years to move the goalposts.</span></div>
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Ari Widellhttp://www.blogger.com/profile/08889226197358610337noreply@blogger.com3tag:blogger.com,1999:blog-4779620886549453292.post-20234623133768942302019-11-14T14:50:00.002+02:002020-06-12T16:54:35.819+03:00Money Back Hero – scamming scam victims<div class="separator" style="clear: both; text-align: center;">
<a href="https://1.bp.blogspot.com/-xwcZvVWjwj4/XcBBy6yANeI/AAAAAAAADJ4/rFslZ0CJJD06OGJkJzxngVmRkRHBYS7aQCNcBGAsYHQ/s1600/logo.jpg" style="margin-left: 1em; margin-right: 1em;"><span style="font-family: arial, helvetica, sans-serif;"><img border="0" data-original-height="278" data-original-width="540" src="https://1.bp.blogspot.com/-xwcZvVWjwj4/XcBBy6yANeI/AAAAAAAADJ4/rFslZ0CJJD06OGJkJzxngVmRkRHBYS7aQCNcBGAsYHQ/s1600/logo.jpg" /></span></a></div>
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<span style="font-family: arial, helvetica, sans-serif;">You know how nature works. A lion kills an antelope and rips off the best parts eating them. Next comes scavengers, vultures and such. They'll take whatever is left.</span><br />
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<span style="font-family: arial, helvetica, sans-serif;">Sometimes you can witness the similar kind of thing happening while observing scams. Scammers are often like vultures circling in the sky looking for more victims. When they spot remains of a scam – or even an active one – they appear from nowhere and land on it to scavenge any leftover money.</span><span style="font-family: arial, helvetica, sans-serif;"> </span><span style="font-family: arial, helvetica, sans-serif;">And what's a better place for searching the most gullible victims than a scam that already has a desperate group of people ready to be scammed yet again. </span><br />
<span style="font-family: arial, helvetica, sans-serif;"><br />OneCoin, probably the biggest ponzi-pyramid scam ever, spread rapidly using Multi Level Marketing (MLM). However, they also exploited other MLM scams by integrating them and their victims to the mother scam. Having the whole business running on MLM ensured that the company got the most gullible people to join and also to spread the gospel to other gullible people.<br /><br /></span><span style="font-family: arial, helvetica, sans-serif;">Companies not doing MLM have to use different approach to reach the victims to be. Social media platforms such as Facebook offer plenty of gullible people to exploit. Advertising on those platforms can be a cost effective way to lure victims into a scam. Thus it isn't rare nowadays to see scams boldly advertising themselves on Facebook and YouTube. For example I would have never bumped into Bunny Token, WarField/GolderGames and Miner One had they not advertised themselves on YouTube. Then there is also... </span><br />
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<h3>
<span style="font-family: verdana, sans-serif;">Money Back Hero</span></h3>
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<span style="font-family: arial, helvetica, sans-serif;">I thought that I had seen it all but then comes Money Back Hero. I didn't even know about this service until I happened to saw their ad recently on YouTube.</span><br />
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<span style="font-family: arial, helvetica, sans-serif;">To put it short, Money Back Hero offers their services to scam victims to help recover their lost funds.</span><br />
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<span style="font-family: arial, helvetica, sans-serif;">Quoted from the website:</span><br />
<span style="background-color: #fff2cc; font-family: arial, helvetica, sans-serif;"><i>"Money Back Hero is a team of scam recovery experts who are ready to fight for you. We stop at nothing to help you get your money back. As wealth recovery specialists, we have dozens of successes and millions already recovered. </i></span><br />
<span style="font-family: arial, helvetica, sans-serif;"><i><span style="background-color: #fff2cc;"><br /></span>
<span style="background-color: #fff2cc;">We have helped victims who lost everything get their lives back. And we want to make a difference, with your help. Every case we win is a dent in the Forex, CFD, Crypto and Binary Options scam industry. This noble work gives us a greater purpose. That’s why we love what we do."</span></i></span><br />
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<span style="font-family: arial, helvetica, sans-serif;">At first look everything seems pretty convincing. They have a website offering even three phone numbers to call to and the company seems to be registered in the US. There's also a Facebook page having over 1.7k likes and the company has received several excellent reviews on TrustPilot. So what could be wrong?</span><br />
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<span style="font-family: arial, helvetica, sans-serif;">However, something in the YouTube ad and the website made me suspicious so I decided to take a closer look at Money Back Hero. After some digging I only found more reasons to find this service not trustworthy. Instead of a hero getting your money back I find it likely that this is a kind of advance-fee scam, a scam scamming scam victims.</span><br />
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<h3>
<span style="font-family: verdana, sans-serif;">Discovering red flags</span></h3>
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<span style="font-family: arial, helvetica, sans-serif;">I started by testing how the people running the scheme would react to raising questions on the official Facebook page. I posted a message where I was asking why Money Back Hero was operating behind a shell company and why there was no names of the representatives of the company to be found. My message was never published and no one answered to me.</span><br />
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<span style="font-family: arial, helvetica, sans-serif;">The website of Money Back Hero states that the company has been registered in Delaware as MB Hero Advisers Ltd. That's in fact true. Delaware business registry lists MB Hero Advisers LLC, but it was set up by an agent, Harvard Business Services INC. There are no names to be found.</span><br />
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<span style="font-family: arial, helvetica, sans-serif;">An address referring to Columbus, Ohio, can also be found at the bottom part of Money Back Hero website: "130 E Chestnut St, Columbus, OH 43215, USA". Then </span><span style="font-family: arial, helvetica, sans-serif;">I managed to find the following entry on </span><a href="https://www.bbb.org/us/oh/columbus/profile/financial-consultants/mb-hero-advisers-llc-0302-70107443" style="font-family: arial, helvetica, sans-serif;">Better Business Bureau</a><span style="font-family: arial, helvetica, sans-serif;">:</span><br />
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<a href="https://1.bp.blogspot.com/-GWoHE_ZzeUA/Xc1GD7seXmI/AAAAAAAADMU/4VcWDG4YbYoeeXO8Bm9XEJkfOKaIdcnOgCNcBGAsYHQ/s1600/bbb.jpg" style="margin-left: 1em; margin-right: 1em;"><span style="font-family: arial, helvetica, sans-serif;"><img border="0" data-original-height="661" data-original-width="540" height="320" src="https://1.bp.blogspot.com/-GWoHE_ZzeUA/Xc1GD7seXmI/AAAAAAAADMU/4VcWDG4YbYoeeXO8Bm9XEJkfOKaIdcnOgCNcBGAsYHQ/s320/bbb.jpg" width="261" /></span></a></div>
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<span style="font-family: arial, helvetica, sans-serif;">However, that information seems to be fake, probably with fake names also. <a href="https://businesssearch.ohiosos.gov/">The business registry of Ohio</a> doesn't recognise MB Hero Advisers LLC at all.</span><br />
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<span style="font-family: arial, helvetica, sans-serif;">While searching for more information I happened to find a website fraudvictimsupport.org, which basically concentrates on advertising Money Back Hero and claims that the business is originated in Gibraltar:</span><br />
<table align="center" cellpadding="0" cellspacing="0" class="tr-caption-container" style="margin-left: auto; margin-right: auto; text-align: center;"><tbody>
<tr><td style="text-align: center;"><a href="https://1.bp.blogspot.com/-yBpRp466qjQ/Xc0wKULDhOI/AAAAAAAADLk/D0GL1r15hL0SXmg4Z_Dx8ywFS8Mdf_G4gCNcBGAsYHQ/s1600/fraudvictimsupport_org.jpg" style="margin-left: auto; margin-right: auto;"><span style="font-family: arial, helvetica, sans-serif;"><img border="0" data-original-height="893" data-original-width="1600" height="178" src="https://1.bp.blogspot.com/-yBpRp466qjQ/Xc0wKULDhOI/AAAAAAAADLk/D0GL1r15hL0SXmg4Z_Dx8ywFS8Mdf_G4gCNcBGAsYHQ/s320/fraudvictimsupport_org.jpg" width="320" /></span></a></td></tr>
<tr><td class="tr-caption" style="text-align: center;"><span style="font-family: arial, helvetica, sans-serif;">Click to enlarge.</span></td></tr>
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<span style="font-family: arial, helvetica, sans-serif;"><br />After doing all these searches I still found no information about the people behind the business. Just information that seemed to be fake. </span><br />
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<span style="font-family: arial, helvetica, sans-serif;">I noticed that one could write a review on Money Back Hero's Facebook page. There already was some reviews so I decided to write something to warn people about the service, and also to give Money Back Hero a chance to correct me if I my suspicions weren't true. It was a short review where I just pointed out that I had found some red flags and recommended not to trust to the company. As a result my review was removed soon after posting it and I was blocked from making any comments on the Facebook page. </span><br />
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<span style="font-family: arial, helvetica, sans-serif;">Well, that's exactly how scams operate so at that point I decided to write this review. – Good luck trying to remove this from the internet!</span><br />
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<h4>
<span style="font-family: arial, helvetica, sans-serif;"><b>Fake, fake, fake</b></span></h4>
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<a href="https://1.bp.blogspot.com/-TcvHxe8bX04/Xc0sarD_9CI/AAAAAAAADLY/pg2Y4tBM1nkKXACi-4GRaI0Uu_xuGvXiACNcBGAsYHQ/s1600/fake_fake_fake.gif" style="margin-left: 1em; margin-right: 1em;"><span style="font-family: arial, helvetica, sans-serif;"><img border="0" data-original-height="345" data-original-width="460" height="240" src="https://1.bp.blogspot.com/-TcvHxe8bX04/Xc0sarD_9CI/AAAAAAAADLY/pg2Y4tBM1nkKXACi-4GRaI0Uu_xuGvXiACNcBGAsYHQ/s320/fake_fake_fake.gif" width="320" /></span></a></div>
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<span style="font-family: arial, helvetica, sans-serif;">Money Back Hero seems to post quite regularly on the Facebook page. There's at most a handful of likes. Many of the people liking those post happen to be Eastern Asians. I wouldn't trust that many of them are real people as many of the profiles show common signs of fake profiles.</span><br />
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<span style="font-family: arial, helvetica, sans-serif;">While visiting the website of Money Back Hero I noticed a pop-up window:</span><br />
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<table align="center" cellpadding="0" cellspacing="0" class="tr-caption-container" style="margin-left: auto; margin-right: auto; text-align: center;"><tbody>
<tr><td style="text-align: center;"><a href="https://1.bp.blogspot.com/-MDy-WV-sNHs/Xc047IwJTLI/AAAAAAAADLw/2uLJZzTeJDcayVRpjEQMNlf4FPtmpaxXgCNcBGAsYHQ/s1600/popup_window.jpg" style="margin-left: auto; margin-right: auto;"><span style="font-family: arial, helvetica, sans-serif;"><img border="0" data-original-height="357" data-original-width="540" src="https://1.bp.blogspot.com/-MDy-WV-sNHs/Xc047IwJTLI/AAAAAAAADLw/2uLJZzTeJDcayVRpjEQMNlf4FPtmpaxXgCNcBGAsYHQ/s1600/popup_window.jpg" /></span></a></td></tr>
<tr><td class="tr-caption" style="text-align: center;"><span style="font-family: arial, helvetica, sans-serif;">Wow, "Limited Time Offer"! Yes, I want the free guide!</span></td></tr>
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<span style="font-family: arial, helvetica, sans-serif;">I filled up an e-mail address and received soon "the free guide". It was a pdf file named as "Money-Back-Hero-Whitepaper". The content of the pdf is titled "The #1 Weapon In Your Fight To Get Your Money Back". The second page of the pdf reveals the author of this guide. Finally a name, someone representing the company!</span><br />
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<h4>
<span style="font-family: verdana, sans-serif;">Pierce Wilson</span></h4>
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<span style="font-family: arial, helvetica, sans-serif;">Pierce Wilson is introduced as the Digital Marketing Manager at Money Back Hero.</span><br />
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<span style="font-family: arial, helvetica, sans-serif;">Quoting the pdf:</span><br />
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<span style="background-color: #fff2cc; font-family: arial, helvetica, sans-serif;"><i>"Pierce Wilson is the Digital Marketing Manager at MoneyBack Hero. He is also an experienced Googler, father of a beautiful little girl, and husband to a talented hair stylist. </i></span><br />
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<span style="background-color: #fff2cc; font-family: arial, helvetica, sans-serif;"><i>He spends his time researching the deep recesses of the web and weeding through the garbage to find the golden nuggets. </i></span><br />
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<span style="background-color: #fff2cc; font-family: arial, helvetica, sans-serif;"><i>With over 10 years of experience in content writing, Pierce despises the misleading and the fake. Resources like governement regulatory bodies, banks, feedback from real users and scam victims informs his writing."</i></span><br />
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<span style="font-family: arial, helvetica, sans-serif;">Yes, it actually does say so:</span><br />
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<a href="https://1.bp.blogspot.com/-Vt7SODpJqXk/Xc09SLka4dI/AAAAAAAADL8/7WeSo4fEziscGVRByb0ENlLGhNHqqi4FACNcBGAsYHQ/s1600/pierce_wilson.jpg" style="margin-left: 1em; margin-right: 1em;"><span style="font-family: arial, helvetica, sans-serif;"><img border="0" data-original-height="546" data-original-width="540" height="320" src="https://1.bp.blogspot.com/-Vt7SODpJqXk/Xc09SLka4dI/AAAAAAAADL8/7WeSo4fEziscGVRByb0ENlLGhNHqqi4FACNcBGAsYHQ/s320/pierce_wilson.jpg" width="316" /></span></a></div>
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<span style="font-family: arial, helvetica, sans-serif;">Wow, he is an experienced Googler and a husband to a talented hair stylist! Sounds like textbook stuff from "Scamming Dummies for Dummies".</span><br />
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<span style="font-family: arial, helvetica, sans-serif;">I had already troubles believing that Pierce Wilson would be an actual person, and also the picture of him seemed to be a bit off. Like it was chosen from a library of photos. I ran it through Google's image search – the experienced Googler that I am – and found out that Pierce Wilson has another secret identity. </span><br />
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<h4>
<span style="font-family: arial, helvetica, sans-serif;">Meet Choice Lauritano:</span></h4>
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<div class="separator" style="clear: both; text-align: center;">
<a href="https://1.bp.blogspot.com/-Aw938gGWytI/Xc0_EaDUvSI/AAAAAAAADMI/blFMde_FGKUBsDN5tU7tBDKlzx3Ss6FJwCNcBGAsYHQ/s1600/Choice_Lauritano.jpg" style="margin-left: 1em; margin-right: 1em;"><span style="font-family: arial, helvetica, sans-serif;"><img border="0" data-original-height="573" data-original-width="441" height="320" src="https://1.bp.blogspot.com/-Aw938gGWytI/Xc0_EaDUvSI/AAAAAAAADMI/blFMde_FGKUBsDN5tU7tBDKlzx3Ss6FJwCNcBGAsYHQ/s320/Choice_Lauritano.jpg" width="246" /></span></a></div>
<span style="font-family: arial, helvetica, sans-serif;"><br /></span>
<span style="font-family: arial, helvetica, sans-serif;">Choice Lauritano is also a fake person. He was born in a website named <a href="https://youaccel.com/">YouAccel</a>. It seems to be a sort of combination of Facebook and LinkedIn, erm... for students perhaps? It really doesn't seem to be related to Money Back Hero in any way (other than having Pierce/Choice there), but it's rather interesting website nevertheless.</span><br />
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<span style="font-family: arial, helvetica, sans-serif;">I have no idea what an earth is the purpose of YouAccel. There seems to be maybe even thousands of fake persons registered in the website. The site itself announces: "Over 300,000 Students and Growing!" Each and everyone of the members seem to be fake persons, having their individual fake names and fake profile photos. They even make automated posts inside the service, mainly sharing videos and articles. Oh, and YouAccel also has a <a href="https://www.facebook.com/youaccel/">Facebook page</a> having over 150k followers and likers there.</span><br />
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<span style="font-family: arial, helvetica, sans-serif;">This went a bit off topic, but I just found that website fascinating. Have a look by yourself! I challenge you to find even one real person among the members.</span><br />
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<h4>
<span style="font-family: arial, helvetica, sans-serif;">But back to Money Back Hero...</span></h4>
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<span style="font-family: arial, helvetica, sans-serif;">The website of Money Back Hero doesn't seem to have much traffic according to Alexa.com. However, the ad video on YouTube published in March 2019 has been watched over 160k times so I guess there might have been enough gullible people using their services to keep them running this business.</span><br />
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<span style="font-family: arial, helvetica, sans-serif;">To conclude, I think I have found more than enough red flags to consider that Money Back Hero is a scam. By all means, correct me if I'm wrong. – Pierce Wilson? Choice Lauritano? Anyone?</span><br />
<span style="font-family: arial, helvetica, sans-serif;"><br /></span>Ari Widellhttp://www.blogger.com/profile/08889226197358610337noreply@blogger.com8tag:blogger.com,1999:blog-4779620886549453292.post-59825809232445047222019-11-07T03:12:00.002+02:002019-11-13T22:30:12.937+02:00Konstantin Ignatov pleaded guilty, admits that OneCoin was a scam<span style="font-family: "arial" , "helvetica" , sans-serif;">During Wednesday's court session of Mark Scott's case about OneCoin related money laundering it was revealed that Konstantin Ignatov was now a cooperating witness of the government and had already pleaded guilty. He also admitted that OneCoin was a fraud scheme.</span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;">Inner City Press has been covering the story via live Twitter feeds. Below is the part where Konstantin refers to OneCoin as a fraud scheme, also his cooperation with the government and the plea deal are mentioned:</span><br />
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<table align="center" cellpadding="0" cellspacing="0" class="tr-caption-container" style="margin-left: auto; margin-right: auto; text-align: center;"><tbody>
<tr><td style="text-align: center;"><a href="https://1.bp.blogspot.com/-OalQg9cODiE/XcNQnZHOP_I/AAAAAAAADKM/Sh5IuA_cQxgbH5vc23Y-vxntXiYG1ZBKwCNcBGAsYHQ/s1600/inner_city_press_01.jpg" imageanchor="1" style="margin-left: auto; margin-right: auto;"><span style="font-family: "arial" , "helvetica" , sans-serif;"><img border="0" data-original-height="830" data-original-width="516" src="https://1.bp.blogspot.com/-OalQg9cODiE/XcNQnZHOP_I/AAAAAAAADKM/Sh5IuA_cQxgbH5vc23Y-vxntXiYG1ZBKwCNcBGAsYHQ/s1600/inner_city_press_01.jpg" /></span></a></td></tr>
<tr><td class="tr-caption" style="text-align: center;"><span style="font-family: "arial" , "helvetica" , sans-serif;">AUSA = An Assistant United States Attorney</span></td></tr>
</tbody></table>
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<span style="font-family: "arial" , "helvetica" , sans-serif;"><br />Among other interesting details of the scam revealed during the session Konstantin accuses other top OneCoin scammers of stealing from OneCoin. For example "Mr. Aziz stole at least 100 million euros from OneCoin" and "Sebastian Greenwood stole over $100 million".</span><b></b><i></i><u></u><sub></sub><sup></sup><strike></strike><span style="font-family: "arial" , "helvetica" , sans-serif;"></span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;">According to Konstantin there was a safe size of a small room in Sofia and an apartment in Hong Kong full of cash. Apparently there were huge amounts of cash in those stashes. No wonder the company desperately needed experts to launder money.</span><br />
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<table align="center" cellpadding="0" cellspacing="0" class="tr-caption-container" style="margin-left: auto; margin-right: auto; text-align: center;"><tbody>
<tr><td style="text-align: center;"><a href="https://1.bp.blogspot.com/-f1Cj9OFicsg/XcNYaJA9szI/AAAAAAAADKY/PNte9TDwdvwPjQTozi6SUcFBQ8aQgKoVwCNcBGAsYHQ/s1600/inner_city_press_02.jpg" imageanchor="1" style="margin-left: auto; margin-right: auto;"><span style="font-family: "arial" , "helvetica" , sans-serif;"><img border="0" data-original-height="621" data-original-width="516" src="https://1.bp.blogspot.com/-f1Cj9OFicsg/XcNYaJA9szI/AAAAAAAADKY/PNte9TDwdvwPjQTozi6SUcFBQ8aQgKoVwCNcBGAsYHQ/s1600/inner_city_press_02.jpg" /></span></a></td></tr>
<tr><td class="tr-caption" style="text-align: center;"><span style="font-family: "arial" , "helvetica" , sans-serif;">Konstantin: "The money came from a criminal activity." – OneCoin scammers have been awfully silent today.</span></td></tr>
</tbody></table>
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<span style="font-family: "arial" , "helvetica" , sans-serif;">Konstantin also tells that Ruja had a boyfriend, Gilbert Armenta, a US citizen and a "business partner and major money launderer".</span><br />
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<a href="https://1.bp.blogspot.com/-e4beTW6Mwg4/XcNdKvgfReI/AAAAAAAADKk/w5qwefAESMgKeNNJeRd8u5I6eIc9d_vqgCNcBGAsYHQ/s1600/inner_city_press_03.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><span style="font-family: "arial" , "helvetica" , sans-serif;"><img border="0" data-original-height="81" data-original-width="516" src="https://1.bp.blogspot.com/-e4beTW6Mwg4/XcNdKvgfReI/AAAAAAAADKk/w5qwefAESMgKeNNJeRd8u5I6eIc9d_vqgCNcBGAsYHQ/s1600/inner_city_press_03.jpg" /></span></a></div>
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<span style="font-family: "arial" , "helvetica" , sans-serif;">If Konstantin wasn't lying during the court session not even he knows where Ruja is. </span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;">Living surrounded by professional scammers and liars apparently can make one paranoid. Ruja wasn't even trusting her boyfriend much and decided to spy on him. Lucky for her she was right to do so and found out that Armenta was working with the FBI.</span><br />
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<table align="center" cellpadding="0" cellspacing="0" class="tr-caption-container" style="margin-left: auto; margin-right: auto; text-align: center;"><tbody>
<tr><td style="text-align: center;"><a href="https://1.bp.blogspot.com/-8KMKTP7DFcg/XcNdtfnnhKI/AAAAAAAADKs/rMTHyiT89JIwAK5JsCH3K7Jxs-QmvBswACNcBGAsYHQ/s1600/inner_city_press_04.jpg" imageanchor="1" style="margin-left: auto; margin-right: auto;"><span style="font-family: "arial" , "helvetica" , sans-serif;"><img border="0" data-original-height="632" data-original-width="516" src="https://1.bp.blogspot.com/-8KMKTP7DFcg/XcNdtfnnhKI/AAAAAAAADKs/rMTHyiT89JIwAK5JsCH3K7Jxs-QmvBswACNcBGAsYHQ/s1600/inner_city_press_04.jpg" /></span></a></td></tr>
<tr><td class="tr-caption" style="text-align: center;"><span style="font-family: "arial" , "helvetica" , sans-serif;">– Ruja, you spineless asshole… your victims didn't deserve to be scammed by you. It's not cool.</span></td></tr>
</tbody></table>
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<a href="https://soundcloud.com/innercitypress/onecoin-ruja-ignatova-wiretapped-gilbert-armenta-and-found-spineless-cooperator-before-disappearing"><span style="font-family: "arial" , "helvetica" , sans-serif;">Here's the audio of the recorded call of Ruja calling to her lover Gilbert Armenta.</span></a><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;">According to Scott's lawyer Konstantin didn't know that there was no blockchain. <span style="background-color: white; color: black; display: inline; float: none; font-family: "arial" , "helvetica" , sans-serif; font-size: 12.8px; font-style: normal; font-variant: normal; font-weight: 400; letter-spacing: normal; text-align: center; text-decoration: none; text-indent: 0px; text-transform: none; white-space: normal; word-spacing: 0px;">–</span> Thus it could be plausible that neither did Scott know that. </span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;">During the court session Konstantin claimed that he really believed that there was a blockchain. It was showed to him by an "I.T. guy" called Ivan.</span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;">Konstantin himself lied in Colombia in March 2018 about being one of the few who knew that the blockchain really existed. He was then bragging that only three people besides himself knew about the blockchain; Ruja, his mother (Veska Ignatov) and OneCoin's "legal". Here it is on a video: </span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;"><iframe allowfullscreen="" class="YOUTUBE-iframe-video" data-thumbnail-src="https://i.ytimg.com/vi/mS-OibcCXtk/0.jpg" frameborder="0" height="266" src="https://www.youtube.com/embed/mS-OibcCXtk?feature=player_embedded" width="320"></iframe></span></div>
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<span style="font-family: "arial" , "helvetica" , sans-serif;">According to judge Ramos the trial of Mark Scott could last 2–3 weeks. The trial of Konstantin was supposed to start today. Hopefully we'll get some news about the plea deal then.</span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;">I recommend following <a href="https://twitter.com/innercitypress">Inner City Press live feed on Twitter</a> to get the news while they are hot.</span><br />
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<span style="font-family: Verdana, sans-serif;">Update 13 November, 2019:</span></h3>
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<span style="font-family: "arial" , "helvetica" , sans-serif;"><a href="https://www.scribd.com/document/434747259/On-OneCoin-Cooperator-Konstantin-Ignatov-s-Plea-Agreement-for-5K1-letter">Konstantin's plea deal</a></span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;"></span>Ari Widellhttp://www.blogger.com/profile/08889226197358610337noreply@blogger.com2tag:blogger.com,1999:blog-4779620886549453292.post-70422413966806578022019-10-30T14:14:00.000+02:002019-11-19T15:29:39.685+02:00Global InterGold – Two years, 17 different bank accounts – Updated 19 November, 2019<div class="separator" style="clear: both; text-align: center;">
<a href="https://1.bp.blogspot.com/-0CwZs-RZWyg/XMq20zyowYI/AAAAAAAAC7w/Nwtp8RaegIAtSstO_Fk2Fq7iTNapXOCJACPcBGAYYCw/s1600/global_intergold_logo.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="223" data-original-width="581" src="https://1.bp.blogspot.com/-0CwZs-RZWyg/XMq20zyowYI/AAAAAAAAC7w/Nwtp8RaegIAtSstO_Fk2Fq7iTNapXOCJACPcBGAYYCw/s1600/global_intergold_logo.jpg" /></a></div>
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<span style="font-family: "arial" , "helvetica" , sans-serif;">I have been observing the bank accounts of Global InterGold nearly two years already, starting from <a href="http://kusetukset.blogspot.com/2017/02/global-intergold-scam-having-troubles.html">February 2017</a>. During this period the company has had at least 15 different bank accounts in various banks all over the world. <br /><br />The actual number of the bank accounts could be even bigger because I have not kept an eye on bank accounts on different continents until quite recently. For example, there are different bank accounts used for the victims in India than the ones in Africa.<br /><br />I have listed below – in chronological order – all the banks that have had a beneficiary account of Global InterGold via various shell companies. The banks who still have Global InterGold's active scam accounts are marked with "current".<br /><br /><br /><b><span style="font-family: Arial;">UniCredit Bank (Austria/Bulgaria</span>)</b></span><br />
<span style="font-family: "arial" , "helvetica" , sans-serif;"><b><br />Caixa Bank (Spain)<br /><br />Ecobank Nigeria Limited (Nigeria)</b></span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;"><b>Banco Santander (Spain)<br /><br />Access Bank Nigeria PLC (Nigeria) <br /><br />Guaranty Trust Bank Plc (Nigeria) <br /><br />Türkiye İş Bankası A.Ş. (Turkey)<br /><br />Unicredit Bank (Romania) <br /><br />Piraeus Bank Bulgaria AD (Bulgaria) <br /><br />Bulgarian-American Credit Bank (Bulgaria) <br /><br />United Bulgarian Bank (Bulgaria) <br /><br />Bank of the Philippine Islands (Philippines) <br /><br />EastWest Bank (Philippines) <br /><br />International Asset Bank (Bulgaria) <br /><br />Philippine Bank of Communications (Philippines) <br /><br />Raiffeisen Bank International AG (Bulgaria) <br /><br />Texim Bank (Bulgaria)</b><br /><br /><br />The usage of such large amount of different bank accounts that are changed rapidly and without any prior notice is likely a sign of extensive money laundering. </span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;">Strangely the bank accounts of Global InterGold seem to have a tendency to disappear after I have published them.</span><br />
<span style="font-family: "arial" , "helvetica" , sans-serif;"><br />You can check out more detailed information about the bank accounts and their beneficiary shell companies <a href="https://kusetukset.blogspot.com/2017/03/global-intergold-lost-its-bulgarian.html">here</a>.</span><style type="text/css">
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<span style="font-family: "verdana" , sans-serif;">Update 4 November, 2019</span></h3>
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<span style="font-family: "arial" , "helvetica" , sans-serif;">Global InterGold has just recently removed Ecobank Nigeria from the bank account details provided to the scam victims. This happened in 1–2 business days after I had filed a report to the bank.</span><br />
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<span style="font-family: "verdana" , sans-serif;">Update 15 November, 2019</span></h3>
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<span style="font-family: "arial" , "helvetica" , sans-serif;">I had forgotten to add Banco Santander to the list. So there are in fact 16 bank accounts now that I am aware of.</span><br />
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<span style="font-family: Verdana, sans-serif;">Update 19 November, 2019</span></h3>
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<span style="font-family: "arial" , "helvetica" , sans-serif;">There has been lately more changes in banking of scam money. Global InterGold has removed Caixa Bank and moved its banking to another bank in Europe. The company has also removed its long lasting Turkish bank account that was used for example victims from India.</span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;">New bank account details below:</span><br />
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<table cellpadding="0" cellspacing="0" class="t1" style="border-collapse: collapse;"><tbody>
<tr><td class="td1" style="border-color: rgb(0, 0, 0); border-style: solid; border-width: 1px; padding: 4px;" valign="top"><div class="p1" style="font-family: Arial; font-size: 12px; font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; line-height: normal;">
<span style="font-size: x-small;">Correspondent:</span></div>
</td><td class="td1" style="border-color: rgb(0, 0, 0); border-style: solid; border-width: 1px; padding: 4px;" valign="top"><div class="p1" style="font-family: Arial; font-size: 12px; font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; line-height: normal;">
<span style="font-size: x-small;">UniCredit Bank Austria AG, Vienna</span></div>
</td></tr>
<tr><td class="td1" style="border-color: rgb(0, 0, 0); border-style: solid; border-width: 1px; padding: 4px;" valign="top"><div class="p1" style="font-family: Arial; font-size: 12px; font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; line-height: normal;">
<span style="font-size: x-small;">Correspondent Bank SWIFT:</span></div>
</td><td class="td1" style="border-color: rgb(0, 0, 0); border-style: solid; border-width: 1px; padding: 4px;" valign="top"><div class="p1" style="font-family: Arial; font-size: 12px; font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; line-height: normal;">
<span style="font-size: x-small;">BKAUATWW</span></div>
</td></tr>
<tr><td class="td1" style="border-color: rgb(0, 0, 0); border-style: solid; border-width: 1px; padding: 4px;" valign="top"><div class="p1" style="font-family: Arial; font-size: 12px; font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; line-height: normal;">
<span style="font-size: x-small;">Recipient Bank:</span></div>
</td><td class="td1" style="border-color: rgb(0, 0, 0); border-style: solid; border-width: 1px; padding: 4px;" valign="top"><div class="p1" style="font-family: Arial; font-size: 12px; font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; line-height: normal;">
<span style="font-size: x-small;">Unicredit Bulbank</span></div>
</td></tr>
<tr><td class="td1" style="border-color: rgb(0, 0, 0); border-style: solid; border-width: 1px; padding: 4px;" valign="top"><div class="p1" style="font-family: Arial; font-size: 12px; font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; line-height: normal;">
<span style="font-size: x-small;">Bank Address:</span></div>
</td><td class="td1" style="border-color: rgb(0, 0, 0); border-style: solid; border-width: 1px; padding: 4px;" valign="top"><div class="p1" style="font-family: Arial; font-size: 12px; font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; line-height: normal;">
<span style="font-size: x-small;">7 Sveta Nedelya Sq., 1000 Sofia, Bulgaria</span></div>
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<tr><td class="td1" style="border-color: rgb(0, 0, 0); border-style: solid; border-width: 1px; padding: 4px;" valign="top"><div class="p1" style="font-family: Arial; font-size: 12px; font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; line-height: normal;">
<span style="font-size: x-small;">SWIFT:</span></div>
</td><td class="td1" style="border-color: rgb(0, 0, 0); border-style: solid; border-width: 1px; padding: 4px;" valign="top"><div class="p1" style="font-family: Arial; font-size: 12px; font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; line-height: normal;">
<span style="font-size: x-small;">UNCRBGSF</span></div>
</td></tr>
<tr><td class="td1" style="border-color: rgb(0, 0, 0); border-style: solid; border-width: 1px; padding: 4px;" valign="top"><div class="p1" style="font-family: Arial; font-size: 12px; font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; line-height: normal;">
<span style="font-size: x-small;">Beneficiary:</span></div>
</td><td class="td1" style="border-color: rgb(0, 0, 0); border-style: solid; border-width: 1px; padding: 4px;" valign="top"><div class="p1" style="font-family: Arial; font-size: 12px; font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; line-height: normal;">
<span style="font-size: x-small;">Gold International Group Limited</span></div>
</td></tr>
<tr><td class="td1" style="border-color: rgb(0, 0, 0); border-style: solid; border-width: 1px; padding: 4px;" valign="top"><div class="p1" style="font-family: Arial; font-size: 12px; font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; line-height: normal;">
<span style="font-size: x-small;">Beneficiary Address:</span></div>
</td><td class="td1" style="border-color: rgb(0, 0, 0); border-style: solid; border-width: 1px; padding: 4px;" valign="top"><div class="p1" style="font-family: Arial; font-size: 12px; font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; line-height: normal;">
<span style="font-size: x-small;">Georgi Sava Rakovski Str. 96, Sofia 1000, Bulgaria</span></div>
</td></tr>
<tr><td class="td1" style="border-color: rgb(0, 0, 0); border-style: solid; border-width: 1px; padding: 4px;" valign="top"><div class="p1" style="font-family: Arial; font-size: 12px; font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; line-height: normal;">
<span style="font-size: x-small;">Beneficiary Account:</span></div>
</td><td class="td1" style="border-color: rgb(0, 0, 0); border-style: solid; border-width: 1px; padding: 4px;" valign="top"><div class="p1" style="font-family: Arial; font-size: 12px; font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; line-height: normal;">
<span style="font-size: x-small;">BG97UNCR70001523172349</span></div>
</td></tr>
<tr><td class="td1" style="border-color: rgb(0, 0, 0); border-style: solid; border-width: 1px; padding: 4px;" valign="top"><div class="p1" style="font-family: Arial; font-size: 12px; font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; line-height: normal;">
<span style="font-size: x-small;">Payment details:</span></div>
</td><td class="td1" style="border-color: rgb(0, 0, 0); border-style: solid; border-width: 1px; padding: 4px;" valign="top"><div class="p1" style="font-family: Arial; font-size: 12px; font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; line-height: normal;">
<span style="font-size: x-small;">TF150-483-162 Proforma invoice</span></div>
</td></tr>
</tbody></table>
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<span style="font-family: "arial" , "helvetica" , sans-serif;">The shell company used is Gold International Group Limited registered in Bulgaria. It's the same one that has been used also earlier when Global InterGold has chosen to use Bulgarian banks.</span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;">Let's see how long this account lasts.</span><br />
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Ari Widellhttp://www.blogger.com/profile/08889226197358610337noreply@blogger.com2tag:blogger.com,1999:blog-4779620886549453292.post-77696336588512808732019-10-29T23:53:00.000+02:002019-10-31T15:29:19.721+02:00"Free Konstantin" – a petition to distract scam victims<span style="font-family: "arial" , "helvetica" , sans-serif;">No, I'm not joking. There actually is a petition that aims to free Konstantin Ignatov. The petition was launched by King Jayms, who is a member of OneLife's Inner Circle and GLG (Global Leaders Group). And yes, this is the same person who thought that it would be alright to shoot a video of himself <a href="https://kusetukset.blogspot.com/2019/10/onecoin-glg-member-pretending-to-kill.html">pretending to kill "haters"</a>. </span><br />
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<table align="center" cellpadding="0" cellspacing="0" class="tr-caption-container" style="margin-left: auto; margin-right: auto; text-align: center;"><tbody>
<tr><td style="text-align: center;"><a href="https://1.bp.blogspot.com/-XaH1kZHdHko/XbgYopOIquI/AAAAAAAADH0/LOETrpX3Sa0H-QwHeKoYOmO_A5qJMxIkQCNcBGAsYHQ/s1600/freekonstantinignatov_540px.jpg" imageanchor="1" style="margin-left: auto; margin-right: auto;"><span style="font-family: "arial" , "helvetica" , sans-serif;"><img border="0" data-original-height="257" data-original-width="540" src="https://1.bp.blogspot.com/-XaH1kZHdHko/XbgYopOIquI/AAAAAAAADH0/LOETrpX3Sa0H-QwHeKoYOmO_A5qJMxIkQCNcBGAsYHQ/s1600/freekonstantinignatov_540px.jpg" /></span></a></td></tr>
<tr><td class="tr-caption" style="text-align: center;"><span style="font-family: "arial" , "helvetica" , sans-serif;"><b>I modified the picture of the petition site a bit to suit also the future needs of the scammers.</b></span></td></tr>
</tbody></table>
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<span style="font-family: "arial" , "helvetica" , sans-serif;"></span><b></b><br />
<span style="font-family: "arial" , "helvetica" , sans-serif;">The actual petition has been launched on Change.org which is a popular petition website. There's also a separate website introducing this campaign of "Free K" with testimonials, pictures of Konstantin and a huge load of bullshit.</span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;">The petition campaign site states:</span><br />
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<span style="background-color: #fff2cc; font-family: "arial" , "helvetica" , sans-serif;">"Mr Konstantin Ignatov was detained by the US Justice Department at LAX airport on 6th March 2019 on a series of unjust charges.</span><br />
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<span style="background-color: #fff2cc; font-family: "arial" , "helvetica" , sans-serif;">A group of OneLife IMAs (Independent Marketing Associates) have decided to stand in solidarity to get the voice of the OneLife network heard. Our mission with this petition is to help the general public at large to see through the lies that are being told by gaining an understanding of the business which OneLife IMA’s has been conducting and to come to see and understand that the charges against our beloved Konstantin Ignatov are unjust, false and unsubstantiated."</span><br />
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<a href="https://1.bp.blogspot.com/-YDCzn9Q91KM/Xbrhmoig2II/AAAAAAAADJU/cuyhRlBvcWkk6h48t3pO-7utihgf8I3LgCNcBGAsYHQ/s1600/konstantin_ignatov.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="345" data-original-width="540" src="https://1.bp.blogspot.com/-YDCzn9Q91KM/Xbrhmoig2II/AAAAAAAADJU/cuyhRlBvcWkk6h48t3pO-7utihgf8I3LgCNcBGAsYHQ/s1600/konstantin_ignatov.jpg" /></a></div>
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<span style="font-family: "verdana" , sans-serif;">A giant facepalm for Jeffrey Lichtman</span></h3>
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<span style="font-family: "arial" , "helvetica" , sans-serif;">Ironically, whereas the defence of Konstantin has built their case on claiming that Konstantin was only <a href="https://www.courtlistener.com/recap/gov.uscourts.nysd.516497/gov.uscourts.nysd.516497.98.0.pdf?fbclid=IwAR2Yt_Wh24szIuPRV_h3DnSXYzwaxCnXMNJXVUWp-1iZ9VvDEaCv285o1Pk">a lowly assistant of Ruja and certainly not a leader</a>, the top OneCoin leaders promoting the petition are doing their best to ruin this defence strategy. </span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;">The petition website and the testimonials there try to paint a picture of Konstantin as an exceptional leader. He is referred to as "beloved leader", "a superb leader", "more than your average executive" and "our captain". Obviously this isn't going in favor of the defence.</span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;">What should be alarming to those still believing in OneCoin, Konstantin's lawyer Jeffrey Lichtman agrees on OneCoin being a scam. If Konstantin had any proof against that he would have already delivered such evidence to the defence. It seems only evident that Konstantin has had to reveal to his defending lawyer that OneCoin was nothing but a scam and they could not build Konstantin's defence on legitimacy of OneCoin. Thus the only option available for the defence is to try to distance Konstantin from the scam.</span><strike></strike><br />
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<span style="font-family: "verdana" , sans-serif;">The petition not going as planned</span></h3>
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<span style="font-family: "arial" , "helvetica" , sans-serif;">The petition was launched in mid October and it soon reached above 11k signees. However, the top misleaders of OneCoin were not satisfied. They wanted to reach at least 100k signatures and aim for 1 million.</span><br />
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<a href="https://1.bp.blogspot.com/-bkOkI-SL8f8/Xbim5uZo1KI/AAAAAAAADI4/ldWu3pXsyt8ySmnBS6p894-7PipGI7Y9wCNcBGAsYHQ/s1600/dusan.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><span style="font-family: "arial" , "helvetica" , sans-serif;"><img border="0" data-original-height="203" data-original-width="500" src="https://1.bp.blogspot.com/-bkOkI-SL8f8/Xbim5uZo1KI/AAAAAAAADI4/ldWu3pXsyt8ySmnBS6p894-7PipGI7Y9wCNcBGAsYHQ/s1600/dusan.jpg" /></span></a></div>
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<span style="font-family: "arial" , "helvetica" , sans-serif;">From there on the petition slowly rose to have around 20k signees. However, OneCoin has allegedly above 3.5 million members so having around 20k signatures on that petition must have been quite embarrassing for the top scammers. It began to seem that there wasn't much interest at all towards freeing Konstantin among the members. I have seen some members even rebelling against the idea of the petition. They would rather have an exchange to cash out their OneCoin possessions.</span></div>
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<span style="font-family: "arial" , "helvetica" , sans-serif;">Then surprisingly during the last couple of days the amount of signatures rose rapidly above 40k. There seemed to be a lot of Eastern Asians suddenly signing the petition. I suspect that someone hired a click farm or two to rapidly increase the amount of signees. I also took some screencaptures of them sharing their thoughts on Change.org why Konstantin should be set free:</span></div>
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<tr><td style="text-align: center;"><a href="https://1.bp.blogspot.com/-dSVqgzYNOAQ/XbhW2XogIpI/AAAAAAAADIY/nVnlYkD7sBkkVx-6Gh1yKEmP_kK2hs6UQCNcBGAsYHQ/s1600/chinese_01.jpg" imageanchor="1" style="margin-left: auto; margin-right: auto;"><span style="font-family: "arial" , "helvetica" , sans-serif;"><img border="0" data-original-height="1177" data-original-width="168" height="320" src="https://1.bp.blogspot.com/-dSVqgzYNOAQ/XbhW2XogIpI/AAAAAAAADIY/nVnlYkD7sBkkVx-6Gh1yKEmP_kK2hs6UQCNcBGAsYHQ/s320/chinese_01.jpg" width="44" /></span></a></td></tr>
<tr><td class="tr-caption" style="text-align: center;"><span style="font-family: "arial" , "helvetica" , sans-serif;">All these people share the exact same thought that "Mr. Konstantin is not guilty."</span></td></tr>
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<tr><td style="text-align: center;"><a href="https://1.bp.blogspot.com/-hzwB6E5V4v8/XbhW2aCtjBI/AAAAAAAADIc/-FUp2w-sBm8msNTCwlwfKTTr8_NbY8TigCNcBGAsYHQ/s1600/chinese_02.jpg" imageanchor="1" style="margin-left: auto; margin-right: auto;"><span style="font-family: "arial" , "helvetica" , sans-serif;"><img border="0" data-original-height="1155" data-original-width="206" height="320" src="https://1.bp.blogspot.com/-hzwB6E5V4v8/XbhW2aCtjBI/AAAAAAAADIc/-FUp2w-sBm8msNTCwlwfKTTr8_NbY8TigCNcBGAsYHQ/s320/chinese_02.jpg" width="56" /></span></a></td></tr>
<tr><td class="tr-caption" style="text-align: center;"><span style="font-family: "arial" , "helvetica" , sans-serif;">Via Google Translate: "Mr. Konstantin is a positive energy person."</span></td></tr>
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<span style="font-family: "arial" , "helvetica" , sans-serif;">I suppose Change.org (or an automated filter of the site) spotted a massive amount of signatures originating to specific IP address and removed all of them today. However, OneCoin leader Cristi Calina was pointing his finger at other direction. It wasn't Change.org but mysterious "they" who want to stop OneCoin and silence the "OneLife Ecosystem":</span></div>
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<tr><td style="text-align: center;"><a href="https://1.bp.blogspot.com/-s7EJ_cmysgI/XbhMM2Kd0jI/AAAAAAAADIM/t654dYDQPXc8i_xr4swHZkJsWD-hM2iJQCNcBGAsYHQ/s1600/cristi_calina_haters.jpg" imageanchor="1" style="margin-left: auto; margin-right: auto;"><span style="font-family: "arial" , "helvetica" , sans-serif;"><img border="0" data-original-height="580" data-original-width="540" src="https://1.bp.blogspot.com/-s7EJ_cmysgI/XbhMM2Kd0jI/AAAAAAAADIM/t654dYDQPXc8i_xr4swHZkJsWD-hM2iJQCNcBGAsYHQ/s1600/cristi_calina_haters.jpg" /></span></a></td></tr>
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<span style="font-family: "arial" , "helvetica" , sans-serif;">There isn't any sense in this petition thing to begin with – other than distract the members from demanding an exchange. Konstantin has been charged of wire fraud. He is not a political prisoner but charged of criminal activity. That's why there is going to be a trial. A petition won't change a thing, not even with one million signees. And above all, it's really just ruining the case of the defence.</span></div>
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<span style="font-family: "arial" , "helvetica" , sans-serif;">After Change.org has been filtering the signatures the amount of signees has remained at around 24k. It looks like it's going to take some time to reach the minimum goal of 100k signees. However, depending on the sentence there could be many many years left to reach that goal.</span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;">Anyways, I don't think that Jeffrey Lichtman agrees on this, but the word is that if you OneCoin members want to "make Konstantin smile more" you should sign that petition:</span><br />
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<a href="https://1.bp.blogspot.com/-HC9jHNUjeRA/XbhczYuTYRI/AAAAAAAADIs/W7PXP108imops2EAFGpuu6V6eKsi6DnxACNcBGAsYHQ/s1600/konsta_smile.jpg" imageanchor="1" style="margin-left: auto; margin-right: auto;"><span style="font-family: "arial" , "helvetica" , sans-serif;"><img border="0" data-original-height="540" data-original-width="540" src="https://1.bp.blogspot.com/-HC9jHNUjeRA/XbhczYuTYRI/AAAAAAAADIs/W7PXP108imops2EAFGpuu6V6eKsi6DnxACNcBGAsYHQ/s1600/konsta_smile.jpg" style="cursor: move;" /></span></a></div>
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<span style="font-family: "arial" , "helvetica" , sans-serif;"><b>I have only photoshopped the face of Konstantin, the rest is genuine OneCoin propaganda.</b></span><span style="font-family: "arial" , "helvetica" , sans-serif;"><br /></span></div>
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<span style="font-family: "verdana" , sans-serif;">Update October 30:</span></h3>
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<span style="font-family: "arial" , "helvetica" , sans-serif;">At the moment there are below 20k signees so it seems that Change.org continued removing thousands of suspicious signatures from the petition.</span><br />
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Ari Widellhttp://www.blogger.com/profile/08889226197358610337noreply@blogger.com7tag:blogger.com,1999:blog-4779620886549453292.post-33814773656362132652019-10-23T02:32:00.000+03:002019-10-23T11:49:17.397+03:00OneCoin – a confusing legal threat to Duncan Arthur<span style="font-family: "arial" , "helvetica" , sans-serif;">During last summer a German law firm Schulenberg & Schenk approached Duncan Arthur, the former Project Lead of DealShaker, via a letter dated 12 June 2019. The subject of the letter is a statement released by Duncan Arthur after he was no longer providing his services to OneCoin.<br /><br />What's confusing about the letter is that Schulenberg & Schenk claim to represent the legal interest of Oneworld Network FZE but at the same time the subject of the letter is a statement to "OneLife members", referring to members who have signed up to and agreed the terms and conditions of OneLife Network Ltd who is not the said client. OneLife Network Ltd (nowadays inactive) was a company registered in Belize. The client of the lawfirm is Oneworld Network FZE registered in United Arab Emirates.</span><br />
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<tr><td class="tr-caption" style="text-align: center;"><span style="font-family: "arial" , "helvetica" , sans-serif;"><b>The letter to Duncan Arthur, part 1 (click to enlarge)</b></span></td></tr>
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<span style="font-family: "arial" , "helvetica" , sans-serif;">Quoting the letter:</span></div>
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<span style="background-color: #fff2cc; font-family: "arial" , "helvetica" , sans-serif;">"This statement contains various falsehoods as well as legal violations towards our client at whose cost you intend to promote yourself and your business. For this purpose, you make unfair use of the reputation of our client and the large number of its members in order to increase your media reach and to address as many interested potential clients as possible for your own dubious offers."</span></div>
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<span style="font-family: "arial" , "helvetica" , sans-serif;"><span style="background-color: white; color: black; display: inline; float: none; font-family: "arial" , "helvetica" , sans-serif; font-size: 16px; font-style: normal; font-variant: normal; font-weight: 400; letter-spacing: normal; text-align: left; text-decoration: none; text-indent: 0px; text-transform: none; white-space: normal; word-spacing: 0px;">–</span> Sorry, "reputation"? Well, there is the reputation as a notorious ponzi pyramid scam.</span></div>
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<span style="font-family: "arial" , "helvetica" , sans-serif;">The letter doesn't name any persons of the company the lawfirm represents, nor is the information available online so we don't get to know who has set up this company in UAE and runs this sideshow. </span></div>
<span style="font-family: "arial" , "helvetica" , sans-serif;"><br />It's worth mentioning that the members of OneLife haven't even heard about Oneworld Network FZE. The website onelife.eu still claims to belong to the Belizean company. All members signing up still agree to the terms and conditions of this nonexistent company.</span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;"><b>The letter to Duncan Arthur, part 2 (click to enlarge)</b></span></div>
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<span style="font-family: "arial" , "helvetica" , sans-serif;">Quoting the letter:</span></div>
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<span style="background-color: #fff2cc; font-family: "arial" , "helvetica" , sans-serif;">"We therefore request you to refrain from providing OneLife Members with any untrue information or electronic mail (regardless of its content) in the future. </span></div>
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<span style="background-color: #fff2cc; font-family: "arial" , "helvetica" , sans-serif;">In the event that you do not immediately cease your unlawful conduct, our client will, without further warning, seek judicial assistance to enforce her injunctive reliefs."</span></div>
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<span style="font-family: "arial" , "helvetica" , sans-serif;">– I thought that it was the company policy to feed the members of OneLife with untrue information. Isn't the whole point to defraud them? Like Ruja said: "We are not mining actually – but telling people shit." and "Take the money and run and blame someone else for this."<br /><br />I have approached Schulenberg & Schenk and asked how they can make such request from behalf of a company who has nothing to do with the members of OneLife. I also mentioned that OneCoin/OneLife is a notorious ponzi-pyramid scam. Thus any money involved in this business and handled any company related to it is likely originated from the money scammed from the victims and laundered through various shell companies. </span><span style="font-family: arial, helvetica, sans-serif;">I'll let you know if I get any comments about that.</span><br />
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<span style="font-family: "verdana" , sans-serif;">"Expert Opinion" by Schulenberg & Schenk, June 29, 2015</span></h3>
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<span style="font-family: "arial" , "helvetica" , sans-serif;">As a plan to build up credibility for the scam as a legitimate business OneCoin acquired so called "legal opinions" from several European law firms and published nine of them in the back office of onelife.eu. One of the legal opinions happens to be from Schulenberg & Schenk.<br /><br />The legal opinion has been titled as "Expert Opinion" and addressed to One Network Services Ltd.</span><br />
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<span style="background-color: white; font-family: "arial" , "helvetica" , sans-serif;">Quoting the Expert Opinion:</span></div>
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<span style="background-color: #fff2cc; font-family: "arial" , "helvetica" , sans-serif;">"The One Network Service Ltd. is a direct selling company. Purpose of the company is the trade with cryptocurrency or the respective Token and the corresponding education and training material which are distributed by independent and legally separate IMA."</span></div>
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<span style="font-family: "arial" , "helvetica" , sans-serif;">– As proven by the court documents of US DOJ OneCoin has never been a cryptocurrency. The real purpose of the company was to defraud the members right from the start. I guess it slipped Ruja's mind to tell the expert that. </span><br />
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<span style="background-color: #fff2cc; font-family: "arial" , "helvetica" , sans-serif;">"Both using these OneCoins and Token, exchange activities can be realized via the trading system called "OneExchange". The prices are governed by the free market principle of supply and demand."</span></div>
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<span style="background-color: white; font-family: "arial" , "helvetica" , sans-serif;"><span style="background-color: white; color: black; display: inline; float: none; font-family: "arial" , "helvetica" , sans-serif; font-size: 16px; font-style: normal; font-variant: normal; font-weight: 400; letter-spacing: normal; text-align: left; text-decoration: none; text-indent: 0px; text-transform: none; white-space: normal; word-spacing: 0px;">–</span> On the contrary to this "expert opinion", the price of OneCoin and Token have never been determined by a free market. I don't know where this expert got his information.</span></div>
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<span style="background-color: #fff2cc; font-family: "arial" , "helvetica" , sans-serif;">"Furthermore, each package contains Token which can be used for generating digital currency or be offer<span style="background-color: #fff2cc;">ed <span style="color: black; display: inline; float: none; font-family: "arial" , "helvetica" , sans-serif; font-size: 16px; font-style: normal; font-variant: normal; font-weight: 400; letter-spacing: normal; text-align: left; text-decoration: none; text-indent: 0px; text-transform: none; white-space: normal; word-spacing: 0px;">–</span> </span>so, they can be sold profitably."</span></div>
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<span style="font-family: "arial" , "helvetica" , sans-serif;"><br />This expert opinion by Schulenberg & Schenk only confirms that even an obvious scam can purchase these kind of legal opinions. Well, to be fair there was eight other law firms giving their legal blessings to OneCoin and its business, so OneCoin had nine of them at the time when it already had a reputation as a scam.</span><br />
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Ari Widellhttp://www.blogger.com/profile/08889226197358610337noreply@blogger.com1tag:blogger.com,1999:blog-4779620886549453292.post-64635776722644205312019-10-05T18:24:00.003+03:002019-10-06T11:33:22.150+03:00OneCoin GLG member pretending to kill haters<div class="separator" style="clear: both; text-align: left;">
<span style="font-family: "arial" , "helvetica" , sans-serif;">Y</span><span style="font-family: "arial" , "helvetica" , sans-serif;"><span style="font-family: "arial" , "helvetica" , sans-serif;">es, you read the title right. One of OneCoin's topleaders King Jayms, a member of so called Global Leaders Group (GLG) and "Inner Circle", posted a video on his Facebook wall today titled "Pretending I see the Onelife haters". </span></span></div>
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<tr><td class="tr-caption" style="text-align: center;"><b><span style="font-family: "arial" , "helvetica" , sans-serif;">Screenshot from King Jayms's Facebook page on October 5, 2019.</span></b></td></tr>
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<span style="font-family: "arial" , "helvetica" , sans-serif;"><span style="font-family: "arial" , "helvetica" , sans-serif;"><br />In this short video live stream he's at some shooting range firing a round with a machine gun. After shooting he goes on letting out some steam stating to the camera:</span></span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;"><span style="font-family: "arial" , "helvetica" , sans-serif;"><span style="background-color: #fff2cc;">"Leave the network alone you hater! Let us live, or you die."</span></span></span></div>
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<span style="font-family: "arial" , "helvetica" , sans-serif;"><span style="font-family: "arial" , "helvetica" , sans-serif;">After smiling to the camera he continues:</span></span></div>
<span style="font-family: "arial" , "helvetica" , sans-serif;"><span style="font-family: "arial" , "helvetica" , sans-serif;"><span style="background-color: #fff2cc;">"We are not about the violence man, but the truth be told: Leave the network alone."</span><br />– "Not about the violence". Well, that's a bit thick after titling the video "Pretending I see the OneLife haters" and shooting a round at those imaginary "haters".<br /><br /><br /><a href="https://1.bp.blogspot.com/-5DCaDxcJwDQ/XZividwfgOI/AAAAAAAADGY/kGzSQXvQ4zk2SEyDCe2m4Gbybuh83xfcQCNcBGAsYHQ/s1600/ratatata.gif"><img border="0" src="https://1.bp.blogspot.com/-5DCaDxcJwDQ/XZividwfgOI/AAAAAAAADGY/kGzSQXvQ4zk2SEyDCe2m4Gbybuh83xfcQCNcBGAsYHQ/s320/ratatata.gif" /></a><br /><br /><br />King Jayms – or possibly Facebook – removed the video very shortly after it started getting attention among OneCoin critics. However, while the video was available it was already getting disturbing amount of likes from OneCoin members who were giving thumbs-up gestures and even hearts to the video. <br /><br />Don't worry King Jayms, the Internet won't forget. The video was online long enough to be saved. Here it is on YouTube:</span></span></div>
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<span style="font-family: "arial" , "helvetica" , sans-serif;">For those who have problems understanding the seriousness of all this because King Jayms was only "pretending", I'd like to remind you that OneCoin/OneLife is very similar to a religious cult. Not only that, there's no legitimate business or project having their representatives talking about "haters", let alone behaving like this. </span></div>
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<span style="font-family: "arial" , "helvetica" , sans-serif;">Imagine a white supremacist "pretending" to shoot black people. I don't think no one in their right mind could pretend that never happened.</span></div>
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</span>Ari Widellhttp://www.blogger.com/profile/08889226197358610337noreply@blogger.com4tag:blogger.com,1999:blog-4779620886549453292.post-36016743094091795522019-09-28T01:16:00.000+03:002019-10-10T15:11:16.995+03:00The Missing Cryptoqueen podcast series by BBC Sounds is a must hear<h3>
<span style="font-family: "verdana" , sans-serif;">OneCoin members are BBC haters</span></h3>
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<a href="https://1.bp.blogspot.com/-y7HAroB-XJ0/XY6B8bfCYBI/AAAAAAAADFo/Y2q2H48VdrcValhUvhYZxvavAXWcj-ORgCNcBGAsYHQ/s1600/ruja_ignatova_missing_crypto_queen.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><span style="font-family: "arial" , "helvetica" , sans-serif;"><img border="0" data-original-height="504" data-original-width="896" height="180" src="https://1.bp.blogspot.com/-y7HAroB-XJ0/XY6B8bfCYBI/AAAAAAAADFo/Y2q2H48VdrcValhUvhYZxvavAXWcj-ORgCNcBGAsYHQ/s320/ruja_ignatova_missing_crypto_queen.jpg" width="320" /></span></a></div>
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<span style="font-family: "arial" , "helvetica" , sans-serif;">It's not like OneCoin hasn't already gotten loads of bad press and reputation as a notorious crypto scam, but the podcast series by BBC Sounds certainly got the scam company and its network (mis)leaders on toes.</span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;">As soon as the network leaders of OneCoin found out that a podcast series about OneCoin was going to be released they started to agitate the members to mass complain to BBC about the then upcoming series. They even instructed the members all over the world how to complain with a prewritten statement. </span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;">I guess these leaders were desperately hoping that a mass campaign of complaints would lead BBC to at least postpone the release of the podcast series, or maybe even to cancel it.</span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;">Here are the instructions posted in a Telegram group of over ten thousand members:</span><br />
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<a href="https://1.bp.blogspot.com/-u9s21oVpBjg/XY54IXgOTgI/AAAAAAAADFc/qS1d_kG9uL0QWeDAjt5OLM0pYB16l7NkQCNcBGAsYHQ/s1600/bbc.png" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><span style="font-family: "arial" , "helvetica" , sans-serif;"><img border="0" data-original-height="1372" data-original-width="1600" height="342" src="https://1.bp.blogspot.com/-u9s21oVpBjg/XY54IXgOTgI/AAAAAAAADFc/qS1d_kG9uL0QWeDAjt5OLM0pYB16l7NkQCNcBGAsYHQ/s400/bbc.png" width="400" /></span></a></div>
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<span style="font-family: "arial" , "helvetica" , sans-serif;">As the picture above shows, the leaders of the scam network were also concerned about some Facebook groups which had people warning about OneCoin and sharing news, information and facts about the scheme. These people – yours truly included – are called "haters", often also "paid haters", and they are very very bad for the ponzi-pyramid-business. </span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;">It's also funny that the very Facebook groups the leaders wished to have reported as abusive were groups of the members of OneCoin. One even created by Sebastian Greenwood himself.</span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;">Some of the leaders of the network have also instructed the members to report Facebook accounts of "haters" as fake to have them closed. Yeah, mine too. I can only imagine how many reports Facebook has received about my account. So far without success though.</span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;">Oh, but back to the podcast series… </span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;">I don't know how many complaints BBC has already received. I would estimate that at least thousands. Nevertheless, the series was launched as planned, on 19 September first two episodes and the third one yesterday. It's an eight part series and there's is a new episode available every Thursday.</span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;">So far I have listened all three episodes available and can highly recommend the series even if you think you know OneCoin inside out.</span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;">As a short introduction: </span><br />
<i><span style="background-color: #fff2cc; font-family: "arial" , "helvetica" , sans-serif;">Dr Ruja Ignatova persuaded millions to join her financial revolution. Then she disappeared. Why? Jamie Bartlett presents a story of greed, deceit and herd madness.</span></i><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;"><a href="https://www.bbc.co.uk/programmes/p07nkd84/episodes/downloads"><span id="goog_911334543"></span>And here's a link to the series.</a> It's absolutely free. You don't even need to buy an education package from a suspicious website nor to become a member of a cult. And no, I don't get any commission from advertising the series.</span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;">As you might have suspected, the journalist behind the podcast, Jamie Bartlett, has already received some feedback from OneCoin members. Here's one I spotted on Twitter:</span><br />
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<tr><td class="tr-caption" style="text-align: center;"><span style="font-family: "arial" , "helvetica" , sans-serif;"><b>Oh, those onecoiners! They truly know how to represent a scam. Welcome to the club of "haters", Jamie!</b></span></td></tr>
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Ari Widellhttp://www.blogger.com/profile/08889226197358610337noreply@blogger.com0tag:blogger.com,1999:blog-4779620886549453292.post-7002967069718602372019-09-15T15:46:00.002+03:002019-09-16T17:34:19.725+03:00OneCoin – Leaders using Ruja's exit plan<div class="separator" style="clear: both; text-align: left;">
<span style="font-family: "arial" , "helvetica" , sans-serif;">I guess the leaders of the network have already broken so many promises that they have decided to follow the exit plan of Ruja Ignatova. Quoting her: </span><span style="background-color: #fff2cc; font-family: "arial" , "helvetica" , sans-serif;">"Take the money and run and blame someone else for this."</span></div>
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<span style="font-family: "arial" , "helvetica" , sans-serif;">Many of the most prominent leaders of OneCoin's MLM side have already left. The ones who are still aboard have chosen to blame the critics of the scam for the evident failure of OneCoin.</span></div>
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<span style="font-family: "verdana" , sans-serif;">"Who is responsible of destroying this project"</span></h3>
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<span style="font-family: "arial" , "helvetica" , sans-serif;">Instead of boasting how OneCoin will become one of the biggest or the biggest reserve currencies worldwide and how it will kill Bitcoin – the imaginary rival of OneCoin – the leaders have lately been fiercely blaming the critics of the scam for the looming failure about to happen.</span></div>
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<span style="font-family: "arial" , "helvetica" , sans-serif;">According to the top leaders like Habib Zahid and Dusan Torbica, if OneCoin turns out to be a failure, and thus a ponzi-pyramid scam like we "haters" have been warning from the beginning, then the members should blame us critics for losing their money. If it were a success then we "haters" apparently only get sued and mocked as losers.</span></div>
<span style="font-family: "arial" , "helvetica" , sans-serif;"><br />Now, if OneCoin was a legitimate project that is just about going to be a success, why would Habib Zahid and Dusan Torbica be so worried about "haters" in the first place, let alone have any fears of failure.</span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;">I took some screencaptures (below) of a Telegram Group that has currently more than 11k members of OneCoin. Discussion isn't allowed, but some of the leaders have been allowed to post messages there.</span></div>
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<tr><td class="tr-caption" style="text-align: center;"><span style="font-family: "arial" , "helvetica" , sans-serif;">Yeah, a series on Netflix telling us how OneCoin will become one of the biggest reserve currencies worldwide. However, you'd better suggest it to the Comedies section.</span></td></tr>
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<span style="font-family: "verdana" , sans-serif;">Blame "paid haters and scammers"</span></h3>
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<span style="font-family: "arial" , "helvetica" , sans-serif;">In the screencapture below Habib Zahid is urging the members to "defend" themselves and threatens also the victims of the scam that they will lose if they won't "react".</span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;">A member of the "Global Leaders Group", Dusan Torbica, accompanies Zahid by claiming that the "haters" have victimized the whole OneLife network. Well, that's a strange claim. They are victims of a scam. Critics of the scam are the only ones providing them with factual information, whereas these misleaders have been feeding them with loads of bullshit for years.</span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;">Habib Zahid continues by preparing for the future failure of the exchange: </span><br />
<span style="background-color: #fff2cc; font-family: "arial" , "helvetica" , sans-serif;">"If One will not allowed as trading coin will be only because these paid haters and scammers". </span><br />
<span style="font-family: "arial" , "helvetica" , sans-serif;"><span style="background-color: white; color: black; display: inline; float: none; font-size: 16px; font-style: normal; font-variant: normal; font-weight: 400; letter-spacing: normal; text-align: left; text-decoration: none; text-indent: 0px; text-transform: none; white-space: normal; word-spacing: 0px;">– </span>I don't know any critics of this scam who would have the slightest ill will towards the victims. Neither have I nothing against them getting at least their invested money back. I wouldn't even have nothing against OneCoin itself if it weren't a scam.<br /> </span><br />
<span style="font-family: "arial" , "helvetica" , sans-serif;">The members have been very anxiously waiting for an exchange for years, and each year an exchange has been promised for them. In fact <a href="https://kusetukset.blogspot.com/2016/12/muftis-condemning-onecoin-xcoinx-keeps.html">OneCoin already had an exchange once</a> but it was dead on its arrival because no one was interested in buying coins. Instead there was a mass of members trying desperately to sell their coins. </span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;">So anyone with a half of a brain can understand that an exchange is only going to reveal yet again that there's no demand for the coins. Not even among the members. </span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;">Coincidentally, the exchange has only been marketed to the victims of the scam. And there's a good reason for this. OneCoin is practically unknown outside this religious cult and there's no interest towards the coin whatsoever. So there really is no point marketing this to outside because there isn't a market.</span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;">During the years observing these victims, I have never seen anyone asking for an exchange where they could buy more coins. They all are waiting for an exchange to sell their ponzi-possessions.</span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;">It's no wonder these so called "leaders" are scared shitless, but blaming the ones who have been warning about the scam from the beginning reveals truly how despicable individuals they are.</span></div>
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<span style="font-family: "verdana" , sans-serif;">Finnish MisLeader, Tommi Vuorinen</span></h3>
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<span style="font-family: "arial" , "helvetica" , sans-serif;">A video of a webinar featuring Finnish leader (aka Country Leader) Tommi Vuorinen was recently uploaded to YouTube. According to the title of the video the webinar was held on 12 September 2019.</span></div>
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<span style="font-family: "arial" , "helvetica" , sans-serif;">The webinar is spoken in Finnish but I have translated the main points.</span></div>
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<span style="font-family: "arial" , "helvetica" , sans-serif;"><br /><iframe allowfullscreen="" class="YOUTUBE-iframe-video" data-thumbnail-src="https://i.ytimg.com/vi/jeduECwI0iI/0.jpg" frameborder="0" height="266" src="https://www.youtube.com/embed/jeduECwI0iI?feature=player_embedded" width="320"></iframe></span></div>
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<span style="font-family: "arial" , "helvetica" , sans-serif;"><br /><br />These main points of the webinar are pretty much directly translated from Vuorinen's presentantion:</span><br />
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<span style="background-color: #fff2cc; font-family: "arial" , "helvetica" , sans-serif;">– The exchange is almost ready to be launched. However, Vuorinen tells that it might take yet another month or two before the launch. He tells that there isn't any exact date yet.<br /><br />– The company is going to make sure that it's going to be cheaper to buy coins via the network despite the exchange running on the side. "The best way to obtain coins will still be via OneLife network."<br /><br />– "The Wheel of Fortune" will not be offered anymore after the exchange launches.<br /><br />– "The company sells education. This is not an investment."<br /><br />– The company mines coins.<br /><br />– There's a Central Bank of an undisclosed country behind the exchange. It's been kept as a secret for the time being so that "haters" won't ruin everything.<br /><br />– There's going to be a 10k dollar limit per month per each member in the exchange. But the limit could be smaller if set by the company.<br /><br />– No-one should give any comments to media. Media representatives should be directed to contact the company via email.<br /><br />– Konstantin Ignatov has been arrested and charged because OneCoin's educational material contains criticism towards US dollar etc.<br /><br />– The authorities of US are stalling the trial of Konstantin deliberately to cause damage to the OneLife network.<br /><br />– "The company does everything according to laws and regulations."</span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;"><br />Tommi Vuorinen has been lying so much from behalf of the company that I'm puzzled how there still seems to be members blindly following him.</span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;"> Vuorinen also still persistently lies about company "mining" the coins. In addition to us critics also Ruja Ignatova has told that the company doesn't have a mining process. Quoting her: </span><span style="background-color: #fff2cc; font-family: "arial" , "helvetica" , sans-serif;">"We are not mining actually – but telling people shit."</span></div>
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<span style="font-family: "arial" , "helvetica" , sans-serif;">It's also interesting that he deliberately lies about the reason why Konstantin Ignatov has been charged. He has been charged with one count of conspiracy to commit wire fraud, which carries a maximum sentence of 20 years in prison. He's not a political prisoner. </span></div>
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<span style="font-family: "arial" , "helvetica" , sans-serif;">What comes to all the charges against the beloved founder of the scam, Ruja Ignatova, Tommi Vuorinen didn't mention a word about them.</span><span style="background-color: white; color: black; display: inline; float: none; font-size: 16px; font-variant: normal; letter-spacing: normal; text-align: left; text-indent: 0px; text-transform: none; white-space: normal; word-spacing: 0px;"><br /></span></div>
Ari Widellhttp://www.blogger.com/profile/08889226197358610337noreply@blogger.com0tag:blogger.com,1999:blog-4779620886549453292.post-48969901698607459572019-09-10T16:56:00.000+03:002019-09-18T17:39:10.142+03:00OneCoin – Diving into the deeps of gullibility<div class="separator" style="clear: both; text-align: center;">
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<a href="https://1.bp.blogspot.com/-uvEpDM35Mhs/XXd-y2-Z8hI/AAAAAAAADCA/PDK0IxkgJuYYwfA4nlb4aMe5iDq5FEJewCLcBGAs/s1600/onetanic.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><span style="font-family: "arial" , "helvetica" , sans-serif;"><img border="0" data-original-height="328" data-original-width="540" src="https://1.bp.blogspot.com/-uvEpDM35Mhs/XXd-y2-Z8hI/AAAAAAAADCA/PDK0IxkgJuYYwfA4nlb4aMe5iDq5FEJewCLcBGAs/s1600/onetanic.jpg" /></span></a></div>
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<span style="font-family: "arial" , "helvetica" , sans-serif;">Never underestimate the gullibility of scam victims!</span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;">I always knew that some of the members of OneCoin would simply refuse to acknowledge the fact that they were scammed – even if Ruja Ignatova herself would come smacking the truth into their heads. In a way she has already done that via the evidence published by US investigators. But the rubbery bending of the gullibility of the members is just astonishing.</span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;">I have been a member of some OneCoin related Facebook groups for some time now observing their behaviour and occasionally spreading some information to the scam victims. I used my own Facebook account so I wasn't hiding my identity.</span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;">The groups I was attending were:</span><br />
<span style="font-family: "arial" , "helvetica" , sans-serif;"><a href="https://www.facebook.com/groups/447999482063079/">Sebastian Greenwood Onecoin Inspiration</a> (over 7000 members at the moment)</span><br />
<span style="font-family: "arial" , "helvetica" , sans-serif;"><a href="https://www.facebook.com/groups/1166514396709480/">Onecoin Official Group</a> (nearly 6000 member at the moment)</span><br />
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<span style="font-family: "verdana" , sans-serif;">Diving into the abyss of gullibility</span></h3>
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<span style="font-family: "arial" , "helvetica" , sans-serif;">As many of you readers already know, soon after Konstantin Ignatov was arrested in March 2019 US Department of Justice published all the necessary evidence for anyone with a half of a brain to conclude that OneCoin was nothing more than a scam. </span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;"><a href="https://www.justice.gov/usao-sdny/pr/manhattan-us-attorney-announces-charges-against-leaders-onecoin-multibillion-dollar">A press release pulished on 8 March 2019</a> reveals undeniable facts proving OneCoin as a scam and includes also indictments of Mark Scott and Ruja Ignatova as well as the complaint against Konstantin Ignatov.</span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;">Among all other crushing evidence the following direct quotes from the scammers themselves can be found in the documents:</span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;"><b>Ruja Ignatova:</b> <span style="background-color: #fff2cc;">"Take the money and run and blame someone else for this."</span></span><br />
<span style="font-family: "arial" , "helvetica" , sans-serif;">(While discussing about an exit strategy for the scam with Sebastian Greenwood.)</span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;"><b>Sebastian Greenwood:</b> <span style="background-color: #fff2cc;">"These ppl are idiots."</span></span><br />
<span style="font-family: "arial" , "helvetica" , sans-serif;">(Referring to the members of OneCoin.)</span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;"><b>Konstantin Ignatov:</b> <span style="background-color: #fff2cc;">"The network would not work with intelligent people"</span></span><br />
<span style="font-family: "arial" , "helvetica" , sans-serif;">(Respond to the Greenwood's comment above.)</span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;"><b>Quoting the press release:</b></span><br />
<span style="background-color: #fff2cc; font-family: "arial" , "helvetica" , sans-serif;">"OneCoins are not mined using computer resources. Moreover, the investigation has revealed that IGNATOVA and her co-founder conceived of and built the OneCoin business fully intending to use it to defraud investors."</span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;">Those above are only a fraction of all the evidence that was published. </span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;">All this information and much more have also been provided multiple times to the Facebook groups that I was attending. I find it likely that many of the members have read the court documents, at least they must know by now that Konstantin Ignatov has been arrested. I also believe that all top scammers of OneCoin must have read those documents and thus are perfectly aware about the indictments and evidence gathered by the US investigators.</span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;">One would easily err to think that all this would be enough for even to the most simple minded members to draw the right conclusions about OneCoin being a scam. Well, it ain't. </span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;">Here's an example how a member reacts to the evidence mentioned above:</span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;">I have tried to reason with many OneCoin members in those Facebook groups, but those who dare to talk are absolutely delusional and they seem to be totally incapable of absorbing factual information that is against their beliefs.</span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;">Many of the members think that the whole world is against them and the vision of the beloved founder, Ruja Ignatova. They also seem to delusionally consider Bitcoin as their rival and often accuse people criticising OneCoin as members of Bitcoin – which is ridiculous considering that real currencies don't usually come with a membership.</span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;">It's also popular among OneCoin members to accuse critics as "paid haters". Apparently there's a mysterious third party financing a worldwide hate campaign against OneCoin that has been going on since the scam started. I myself have been many times referred as a paid hater.</span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;">However, it looks like there are some top representatives of OneCoin worried about increasing criticism because I recently had a Master Distributor of OneLife and a member of the Global Leaders Group throwing accusations and threats towards me.</span><br />
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<span style="font-family: "verdana" , sans-serif;">Master Distributor Habib Abdul Rehman (aka Habib Zahid)</span></h3>
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<span style="font-family: "arial" , "helvetica" , sans-serif;">OneCoin's Master Distributor Habib Abdul Rehman (aka Habib Zahid) emerged in a group commenting to my posts and taking a threatening tone with me:</span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;">– I'd sure like to know where's my money from "hating". I've been told by onecoiners that there's big money involved in this hating business, so I want my share. </span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;">Well, I responded to Habib Zahib because I don't take threats lightly:</span><br />
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<tr><td style="text-align: center;"><span style="font-family: "arial" , "helvetica" , sans-serif;"><img border="0" data-original-height="816" data-original-width="540" src="https://1.bp.blogspot.com/-oqrP4YKWIbE/XXdi-US2vsI/AAAAAAAADBQ/Tx9rc3mBAukjGXRGdnSkZoyx713ndoktACLcBGAs/s1600/sample2.jpg" style="margin-left: auto; margin-right: auto;" /></span></td></tr>
<tr><td class="tr-caption" style="text-align: center;"><span style="font-family: "arial" , "helvetica" , sans-serif;"><b>A Master Distributor of the biggest ponzi-pyramid scam ever accuses me for ruining people's lives. These scammers have no moral backbone whatsoever. "Take the money and run and blame someone else for this." – Does that sound familiar?</b></span></td></tr>
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<span style="font-family: "arial" , "helvetica" , sans-serif;">More threats from Habib Zahid:</span><br />
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<tr><td class="tr-caption" style="text-align: center;"><span style="font-family: "arial" , "helvetica" , sans-serif;"><b>You made it to my list already.</b></span></td></tr>
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<tr><td class="tr-caption" style="text-align: center;"><span style="font-family: "arial" , "helvetica" , sans-serif;"><b>Habib Zahid, Master Distributor of OneLife. He knows how to point his fingers at someone else.</b></span></td></tr>
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<span style="font-family: "verdana" , sans-serif;">Dusan Torbica, a member of Global Misleaders Group</span></h3>
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<span style="font-family: "arial" , "helvetica" , sans-serif;">Here's Dusan Torbica, a member of OneLife's GLG (Global Leaders Group) urging the members to point their anger towards me and others opposing the scam:</span><br />
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<a href="https://1.bp.blogspot.com/-I1Bz6RdRz6M/XXdktbuzcOI/AAAAAAAADBc/FiZxn4qdB144VJ1kaPmm66VDIm81odzKACLcBGAs/s1600/sample3.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><span style="font-family: "arial" , "helvetica" , sans-serif;"><img border="0" data-original-height="151" data-original-width="540" src="https://1.bp.blogspot.com/-I1Bz6RdRz6M/XXdktbuzcOI/AAAAAAAADBc/FiZxn4qdB144VJ1kaPmm66VDIm81odzKACLcBGAs/s1600/sample3.jpg" /></span></a></div>
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<span style="font-family: "arial" , "helvetica" , sans-serif;">– So apparently I have the power to destruct their precious ponzi? Why are they so worried if they consider OneCoin legitimate and even think that an exchange is going to be launched in 10 days?</span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;">Despite he was actively online at the time Dusan Torbica refused to comment to this question:</span><br />
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<a href="https://1.bp.blogspot.com/-ji-1GmJD6NU/XXdzFpPGygI/AAAAAAAADB0/GZPDmSm_TjMBivLkAL7VnYIG2cVHWVIkACLcBGAs/s1600/question.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><span style="font-family: "arial" , "helvetica" , sans-serif;"><img border="0" data-original-height="326" data-original-width="540" src="https://1.bp.blogspot.com/-ji-1GmJD6NU/XXdzFpPGygI/AAAAAAAADB0/GZPDmSm_TjMBivLkAL7VnYIG2cVHWVIkACLcBGAs/s1600/question.jpg" /></span></a></div>
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<span style="font-family: "arial" , "helvetica" , sans-serif;">– I don't know about the members but I think they should find it disturbing that not even the leaders know that they all have been registered to a company that doesn't exist. In fact Dusan Torbica doesn't seem to even know who's the CEO of the company:</span><br />
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<span style="font-family: "verdana" , sans-serif;">Update: September 11, 2019</span></h3>
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<span style="font-family: "arial" , "helvetica" , sans-serif;">Still trying to get some answer from Dusan Torbica:</span><br />
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<tr><td class="tr-caption" style="font-size: 12.8px;"><span style="font-family: "arial" , "helvetica" , sans-serif;"><b>As usual Dusan Torbica disappears as soon as someone asks him questions.</b></span></td></tr>
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<span style="font-family: "arial" , "helvetica" , sans-serif;">After a while Dusan popped by to give a lame excuse for not answering any of the questions:</span><br />
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<a href="https://1.bp.blogspot.com/-ZHVxWrj_suc/XXjNVCBNBlI/AAAAAAAADDE/-Ow3pLb30ZQFVthGGFYJtMSbCu9geG6MACNcBGAsYHQ/s1600/grow_a_pair.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="1085" data-original-width="540" src="https://1.bp.blogspot.com/-ZHVxWrj_suc/XXjNVCBNBlI/AAAAAAAADDE/-Ow3pLb30ZQFVthGGFYJtMSbCu9geG6MACNcBGAsYHQ/s1600/grow_a_pair.jpg" /></a></div>
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<span style="font-family: Verdana, sans-serif;">Update 18 September 2019</span></h3>
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<span style="font-family: Arial, Helvetica, sans-serif;">Yesterday Habib Abdul Rehman (aka Habib Zahid) announced that he has resigned from the position as Master Distributor of OneLife. He has also removed or hidden the content of his Facebook page and refuses to comment anything.</span></div>
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<span style="font-family: Arial, Helvetica, sans-serif;">Today morning I asked him to answer me for all the threatening and lies about me he had posted a week ago. I was not surprised not to receive an answer. Instead Habib Abdul Rehman has blocked me a while ago on Facebook.</span></div>
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Ari Widellhttp://www.blogger.com/profile/08889226197358610337noreply@blogger.com4tag:blogger.com,1999:blog-4779620886549453292.post-679838260437479732019-08-28T17:51:00.001+03:002019-08-30T10:43:26.687+03:00Zinzino – Case Iceland<h2>
<span style="font-family: "verdana" , sans-serif;">Iceland</span></h2>
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<a href="https://1.bp.blogspot.com/-ajxnQ_BGWzA/XVwJl0A7IoI/AAAAAAAADAs/1CW5tYzeG4kwLIGp91oxyMIbMg3NehtJQCLcBGAs/s1600/iceland.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><span style="font-family: "arial" , "helvetica" , sans-serif;"><img border="0" data-original-height="230" data-original-width="540" src="https://1.bp.blogspot.com/-ajxnQ_BGWzA/XVwJl0A7IoI/AAAAAAAADAs/1CW5tYzeG4kwLIGp91oxyMIbMg3NehtJQCLcBGAs/s1600/iceland.jpg" /></span></a></div>
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<span style="font-family: "arial" , "helvetica" , sans-serif;">Iceland is a Nordic island country in the North Atlantic, with a population of about 360,000. Over two-thirds of the population live in the capital of Iceland, Reykjavik. Almost 90 % of the population are ethnically Icelandic. It's a relatively closed society, but also a closed knit community of people.</span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;">Such an isolated and small country is an ideal place what comes to researching various diseases and genetics. Furthermore, Iceland is also a great country what comes to observing pyramid scams.</span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;">What interests me in Iceland is that Zinzino spread there in around 2015 and apparently was a big hit for a couple of years up until the boundaries of pyramid sales were met. Well, you know, it's a small country so it's evident that such a business model depending heavily on pyramid recruiting scheme is bound to have problems sooner or later.</span><br />
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<span style="color: #444444; font-family: "arial" , "helvetica" , sans-serif; font-size: x-small;"><b>First a disclaimer: </b><br />Zinzino itself is not a scam. It's a legitimate business selling health supplements, coffee and espresso machines via MLM. <br /><br />The company was also under preliminary investigation by the Finnish police, which was closed by the end of 2013 concluding that Zinzino's business is in accordance with the Finnish law and regulations. <br /><br />To end the disclaimer, those were probably the nicest things I could say about Zinzino. The truth is that under the wings of this perfectly legal business lies a pyramid shaped network selling health supplements using dubious and even prohibited marketing pitches.</span><span style="font-family: "arial" , "helvetica" , sans-serif;"><br /></span>
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<span style="font-family: "verdana" , sans-serif;">Zinzino, Iceland 2014–2018</span></h3>
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<span style="font-family: "arial" , "helvetica" , sans-serif;">Now, I don't live in Iceland but luckily we have Zinzino's annual reports giving us clues about how things have developed. Let's go trough some figures year by year!</span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;"><b>2014 – business blooming</b></span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;">Back in 2014 Zinzino was still blooming in Iceland and the percentage of Zinzino's total sales was 12 %. Not bad for a small country far, far away.</span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;">The annual report mentions that "during the year, 1,299 new distributors and 7,264 new customers were added." That means that on average each distributor had only about 5,5 customers. It goes without saying that this can not be profitable business for the vast majority of the distributors.</span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif; font-size: x-small;">(SEK THOUSAND)</span></div>
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<span style="font-family: "arial" , "helvetica" , sans-serif; font-size: x-small;">Growth compared to previous year</span></div>
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<span style="font-family: "arial" , "helvetica" , sans-serif; font-size: x-small;">121%</span></div>
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<span style="font-family: "arial" , "helvetica" , sans-serif; font-size: x-small;">Percentage of Zinzino’s total sales</span></div>
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<span style="font-family: "arial" , "helvetica" , sans-serif; font-size: x-small;">12%</span></div>
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<span style="font-family: "arial" , "helvetica" , sans-serif; font-size: x-small;">Net sales</span></div>
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<span style="font-family: "arial" , "helvetica" , sans-serif; font-size: x-small;">37,881</span></div>
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<span style="font-family: "arial" , "helvetica" , sans-serif; font-size: x-small;">Other income</span></div>
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<span style="font-family: "arial" , "helvetica" , sans-serif; font-size: x-small;">4,595</span></div>
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<span style="font-family: "arial" , "helvetica" , sans-serif; font-size: x-small;">–41,117</span></div>
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<span style="font-family: "arial" , "helvetica" , sans-serif; font-size: x-small;">Earnings before operating expenses</span></div>
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<span style="font-family: "arial" , "helvetica" , sans-serif; font-size: x-small;">1,359</span></div>
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<span style="font-family: "arial" , "helvetica" , sans-serif; font-size: x-small;">Profit margin before operating expenses </span></div>
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<span style="font-family: "arial" , "helvetica" , sans-serif; font-size: x-small;">3.2%</span></div>
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<tr><td style="text-align: center;"><a href="https://1.bp.blogspot.com/-uh5dXPBLh74/XVqmoHJbICI/AAAAAAAADAg/9k0NUZSOb80tr7oeAyBH6jyd5QwjqfNngCLcBGAs/s1600/Dag_Pettersen_2014.jpg" imageanchor="1" style="margin-left: auto; margin-right: auto;"><span style="font-family: "arial" , "helvetica" , sans-serif;"><img border="0" data-original-height="158" data-original-width="150" src="https://1.bp.blogspot.com/-uh5dXPBLh74/XVqmoHJbICI/AAAAAAAADAg/9k0NUZSOb80tr7oeAyBH6jyd5QwjqfNngCLcBGAs/s1600/Dag_Pettersen_2014.jpg" /></span></a></td></tr>
<tr><td class="tr-caption" style="text-align: center;"><span style="font-family: "arial" , "helvetica" , sans-serif;"><b>Zinzino's CEO, Dag Bergheim Pettersen, 2014</b></span></td></tr>
</tbody></table>
<span style="font-family: "arial" , "helvetica" , sans-serif;"><br /></span>
<span style="font-family: "arial" , "helvetica" , sans-serif;"><br /></span>
<span style="font-family: "arial" , "helvetica" , sans-serif;"><br /></span>
<span style="font-family: "arial" , "helvetica" , sans-serif;"><b>2015 – Slight decline</b></span><br />
<span style="font-family: "arial" , "helvetica" , sans-serif;"><br /></span>
<span style="font-family: "arial" , "helvetica" , sans-serif;">In 2015 the figures are already showing that things are not going well. From here on Zinzino's annual report didn't disclose the numbers regarding distributors and customers. However, decreasing numbers of net sales and direct costs indicate that the pyramid shaped network of distributors wasn't growing anymore. In fact, it's likely that many of the Icelandic Zinzino reps had already abandoned the ship. The boundaries of pyramid recruiting in Iceland were met.</span><br />
<span style="font-family: "arial" , "helvetica" , sans-serif;"><br /></span>
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<td class="td1" valign="top"><div class="p1">
<span style="font-family: "arial" , "helvetica" , sans-serif; font-size: x-small;">(SEK THOUSAND)</span></div>
</td>
<td class="td1" valign="top"><div class="p2">
<span style="font-family: "arial" , "helvetica" , sans-serif; font-size: x-small;"><br /></span></div>
</td>
</tr>
<tr>
<td class="td1" valign="top"><div class="p1">
<span style="font-family: "arial" , "helvetica" , sans-serif; font-size: x-small;">Growth compared to previous year<span class="Apple-converted-space"> </span></span></div>
</td>
<td class="td1" valign="top"><div class="p1">
<span style="font-family: "arial" , "helvetica" , sans-serif; font-size: x-small;">–6%</span></div>
</td>
</tr>
<tr>
<td class="td1" valign="top"><div class="p1">
<span style="font-family: "arial" , "helvetica" , sans-serif; font-size: x-small;">Percentage of Zinzino’s total sales</span></div>
</td>
<td class="td1" valign="top"><div class="p1">
<span style="font-family: "arial" , "helvetica" , sans-serif; font-size: x-small;">9%</span></div>
</td>
</tr>
<tr>
<td class="td1" valign="top"><div class="p1">
<span style="font-family: "arial" , "helvetica" , sans-serif; font-size: x-small;">Net sales</span></div>
</td>
<td class="td1" valign="top"><div class="p1">
<span style="font-family: "arial" , "helvetica" , sans-serif; font-size: x-small;">35,445</span></div>
</td>
</tr>
<tr>
<td class="td1" valign="top"><div class="p1">
<span style="font-family: "arial" , "helvetica" , sans-serif; font-size: x-small;">Other revenue</span></div>
</td>
<td class="td1" valign="top"><div class="p1">
<span style="font-family: "arial" , "helvetica" , sans-serif; font-size: x-small;">4,540</span></div>
</td>
</tr>
<tr>
<td class="td1" valign="top"><div class="p1">
<span style="font-family: "arial" , "helvetica" , sans-serif; font-size: x-small;">Total direct costs<span class="Apple-converted-space"> </span></span></div>
</td>
<td class="td1" valign="top"><div class="p1">
<span style="font-family: "arial" , "helvetica" , sans-serif; font-size: x-small;">–32,303</span></div>
</td>
</tr>
<tr>
<td class="td1" valign="top"><div class="p1">
<span style="font-family: "arial" , "helvetica" , sans-serif; font-size: x-small;">Earnings before operating expenses</span></div>
</td>
<td class="td1" valign="top"><div class="p1">
<span style="font-family: "arial" , "helvetica" , sans-serif; font-size: x-small;">7,682</span></div>
</td>
</tr>
<tr>
<td class="td1" valign="top"><div class="p1">
<span style="font-family: "arial" , "helvetica" , sans-serif; font-size: x-small;">Profit margin before operating expenses </span></div>
</td>
<td class="td1" valign="top"><div class="p1">
<span style="font-family: "arial" , "helvetica" , sans-serif; font-size: x-small;">19.2%</span></div>
</td>
</tr>
</tbody>
</table>
<span style="font-family: "arial" , "helvetica" , sans-serif;"><br /></span>
<span style="font-family: "arial" , "helvetica" , sans-serif;">Coincidentally I managed to find some not-so-flattering news articles about Zinzino published in 2015 (the headlines below translated with Google Translate):</span><br />
<span style="font-family: "arial" , "helvetica" , sans-serif;"><br /></span>
<a href="https://www.visir.is/g/2015150319047" style="font-family: arial, helvetica, sans-serif;">"Icelanders are everyone's favorite in the Zinzino Balance Shake"</a><br />
<br />
<span style="font-family: "arial" , "helvetica" , sans-serif;"><a href="https://www.visir.is/g/2015150309636">"The ZinZino chain sends a warning to its distributors"</a></span><br />
<br />
<a href="https://www.visir.is/g/2015150309585/zinzino-balance-shake-sagdur-laekna-turverki-kransaedastiflu-sykursyki-bakflaedi-laga-asperger-og-adhd-sjon-lesblindu..."><span style="font-family: "arial" , "helvetica" , sans-serif;">"Zinzino Balance shake said to cure túrverki (menstrual cramps?), coronary artery disease, diabetes, reflux; Asperger's and ADHD, vision, dyslexia..."</span></a><br />
<span style="font-family: "arial" , "helvetica" , sans-serif;"><br /></span>
<span style="font-family: "arial" , "helvetica" , sans-serif;"><br /></span>
<span style="font-family: "arial" , "helvetica" , sans-serif;"><b>2016 – Pyramid collapsing</b></span><br />
<span style="font-family: "arial" , "helvetica" , sans-serif;"><br /></span>
<span style="font-family: "arial" , "helvetica" , sans-serif;">Quoting the annual report:</span><br />
<span style="background-color: #fff2cc; font-family: "arial" , "helvetica" , sans-serif;">"Iceland is the market that was most affected by the business system change during 2015/2016, and that lead to difficulties in recovering during 2016. Total revenues during 2016 were in SEK 17.8 (40.0) million which meant a decline in growth of -56% compared to the previous year. Work is in progress in order to increase the sales in Iceland, together working on a more efficient payment. This is expected to provide increased revenues during 2017."</span><br />
<div>
<br />
<span style="font-family: "arial" , "helvetica" , sans-serif;">– "Business system change" refers to a change in company's IT system. In fact the annual report points out to the "business system change" for several other regions as well. I suppose it's just a lame excuse for negative growth. However, it's evident that the pyramid in Iceland was collapsing and that was the main reason for the appalling figures.</span><br />
<span style="font-family: "arial" , "helvetica" , sans-serif;"><br /></span>
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<br />
<table cellpadding="0" cellspacing="0" class="t1">
<tbody>
<tr>
<td class="td1" valign="top"><div class="p1">
<span style="font-family: "arial" , "helvetica" , sans-serif; font-size: x-small;">Growth compared to previous year<span class="Apple-converted-space"> </span></span></div>
</td>
<td class="td1" valign="top"><div class="p1">
<span style="font-family: "arial" , "helvetica" , sans-serif; font-size: x-small;">–56%</span></div>
</td>
</tr>
<tr>
<td class="td1" valign="top"><div class="p1">
<span style="font-family: "arial" , "helvetica" , sans-serif; font-size: x-small;">Percentage of Zinzino’s total sales</span></div>
</td>
<td class="td1" valign="top"><div class="p1">
<span style="font-family: "arial" , "helvetica" , sans-serif; font-size: x-small;">4%</span></div>
</td>
</tr>
<tr>
<td class="td1" valign="top"><div class="p1">
<span style="font-family: "arial" , "helvetica" , sans-serif; font-size: x-small;">Net sales</span></div>
</td>
<td class="td1" valign="top"><div class="p1">
<span style="font-family: "arial" , "helvetica" , sans-serif; font-size: x-small;">16,124</span></div>
</td>
</tr>
<tr>
<td class="td1" valign="top"><div class="p1">
<span style="font-family: "arial" , "helvetica" , sans-serif; font-size: x-small;">Other revenue</span></div>
</td>
<td class="td1" valign="top"><div class="p1">
<span style="font-family: "arial" , "helvetica" , sans-serif; font-size: x-small;">1,664</span></div>
</td>
</tr>
<tr>
<td class="td1" valign="top"><div class="p1">
<span style="font-family: "arial" , "helvetica" , sans-serif; font-size: x-small;">Total direct costs<span class="Apple-converted-space"> </span></span></div>
</td>
<td class="td1" valign="top"><div class="p1">
<span style="font-family: "arial" , "helvetica" , sans-serif; font-size: x-small;">–16,339</span></div>
</td>
</tr>
<tr>
<td class="td1" valign="top"><div class="p1">
<span style="font-family: "arial" , "helvetica" , sans-serif; font-size: x-small;">Earnings before operating expenses</span></div>
</td>
<td class="td1" valign="top"><div class="p1">
<span style="font-family: "arial" , "helvetica" , sans-serif; font-size: x-small;">1,449</span></div>
</td>
</tr>
<tr>
<td class="td1" valign="top"><div class="p1">
<span style="font-family: "arial" , "helvetica" , sans-serif; font-size: x-small;">Profit margin before operating expenses</span></div>
</td>
<td class="td1" valign="top"><div class="p1">
<span style="font-family: "arial" , "helvetica" , sans-serif; font-size: x-small;">8%</span></div>
</td>
</tr>
</tbody>
</table>
<span style="font-family: "arial" , "helvetica" , sans-serif;"><br /></span>
<span style="font-family: "arial" , "helvetica" , sans-serif;"><br /></span>
<span style="font-family: "arial" , "helvetica" , sans-serif;"><b>2017 – Still going down</b></span><br />
<span style="font-family: "arial" , "helvetica" , sans-serif;"><br /></span>
<span style="font-family: "arial" , "helvetica" , sans-serif;">Quoting the annual report:</span><br />
<span style="background-color: #fff2cc; font-family: "arial" , "helvetica" , sans-serif;">"The decline in the Icelandic market slowed down in 2017. The total revenue dropped by 15% and totalled SEK 15.1 (17.8) million. The Icelandic market was hit hard by our change of IT system in 2015 and has had trouble recovering. Throughout the year, Zinzino has worked continuously to support the local sales organisation. This resulted in the Icelandic sales once against starting to increase in the final months of the year."</span><br />
<span style="font-family: "arial" , "helvetica" , sans-serif;">– Yeah, damn that IT system for ruining everything! Nah, just being sarcastic.</span>
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<span style="font-family: "arial" , "helvetica" , sans-serif;"><br /></span>
<br />
<table cellpadding="0" cellspacing="0" class="t1">
<tbody>
<tr>
<td class="td1" valign="top"><div class="p1">
<span style="font-family: "arial" , "helvetica" , sans-serif; font-size: x-small;">(SEK THOUSAND)</span></div>
</td>
<td class="td1" valign="top"><div class="p2">
<span style="font-family: "arial" , "helvetica" , sans-serif; font-size: x-small;"><br /></span></div>
</td>
</tr>
<tr>
<td class="td1" valign="top"><div class="p1">
<span style="font-family: "arial" , "helvetica" , sans-serif; font-size: x-small;">Growth compared to previous year<span class="Apple-converted-space"> </span></span></div>
</td>
<td class="td1" valign="top"><div class="p1">
<span style="font-family: "arial" , "helvetica" , sans-serif; font-size: x-small;">–15%</span></div>
</td>
</tr>
<tr>
<td class="td1" valign="top"><div class="p1">
<span style="font-family: "arial" , "helvetica" , sans-serif; font-size: x-small;">Percentage of Zinzino’s total sales</span></div>
</td>
<td class="td1" valign="top"><div class="p1">
<span style="font-family: "arial" , "helvetica" , sans-serif; font-size: x-small;">3%</span></div>
</td>
</tr>
<tr>
<td class="td1" valign="top"><div class="p1">
<span style="font-family: "arial" , "helvetica" , sans-serif; font-size: x-small;">Net sales</span></div>
</td>
<td class="td1" valign="top"><div class="p1">
<span style="font-family: "arial" , "helvetica" , sans-serif; font-size: x-small;">13,208</span></div>
</td>
</tr>
<tr>
<td class="td1" valign="top"><div class="p1">
<span style="font-family: "arial" , "helvetica" , sans-serif; font-size: x-small;">Other revenue</span></div>
</td>
<td class="td1" valign="top"><div class="p1">
<span style="font-family: "arial" , "helvetica" , sans-serif; font-size: x-small;">1,901</span></div>
</td>
</tr>
<tr>
<td class="td1" valign="top"><div class="p1">
<span style="font-family: "arial" , "helvetica" , sans-serif; font-size: x-small;">Total direct costs<span class="Apple-converted-space"> </span></span></div>
</td>
<td class="td1" valign="top"><div class="p1">
<span style="font-family: "arial" , "helvetica" , sans-serif; font-size: x-small;">–13,531</span></div>
</td>
</tr>
<tr>
<td class="td1" valign="top"><div class="p1">
<span style="font-family: "arial" , "helvetica" , sans-serif; font-size: x-small;">Earnings before operating expenses</span></div>
</td>
<td class="td1" valign="top"><div class="p1">
<span style="font-family: "arial" , "helvetica" , sans-serif; font-size: x-small;">1,578</span></div>
</td>
</tr>
<tr>
<td class="td1" valign="top"><div class="p1">
<span style="font-family: "arial" , "helvetica" , sans-serif; font-size: x-small;">Profit margin before operating expenses</span></div>
</td>
<td class="td1" valign="top"><div class="p1">
<span style="font-family: "arial" , "helvetica" , sans-serif; font-size: x-small;">10%</span></div>
</td>
</tr>
</tbody>
</table>
<span style="font-family: "arial" , "helvetica" , sans-serif;"><br /></span>
<span style="font-family: "arial" , "helvetica" , sans-serif;"><br /></span>
<span style="font-family: "arial" , "helvetica" , sans-serif;"><b>2018 – Nope, still at the rock bottom</b></span><br />
<span style="font-family: "arial" , "helvetica" , sans-serif;"><br /></span>
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<td class="td1" valign="top"><div class="p1">
<span style="font-family: "arial" , "helvetica" , sans-serif; font-size: x-small;">(SEK THOUSAND)</span></div>
</td>
<td class="td1" valign="top"><div class="p2">
<span style="font-family: "arial" , "helvetica" , sans-serif; font-size: x-small;"><br /></span></div>
</td>
</tr>
<tr>
<td class="td1" valign="top"><div class="p1">
<span style="font-family: "arial" , "helvetica" , sans-serif; font-size: x-small;">Growth compared to previous year <span class="Apple-converted-space"> </span></span></div>
</td>
<td class="td1" valign="top"><div class="p1">
<span style="font-family: "arial" , "helvetica" , sans-serif; font-size: x-small;">–10%</span></div>
</td>
</tr>
<tr>
<td class="td1" valign="top"><div class="p1">
<span style="font-family: "arial" , "helvetica" , sans-serif; font-size: x-small;">Percentage of Zinzino’s total sales </span></div>
</td>
<td class="td1" valign="top"><div class="p1">
<span style="font-family: "arial" , "helvetica" , sans-serif; font-size: x-small;">2%</span></div>
</td>
</tr>
<tr>
<td class="td1" valign="top"><div class="p1">
<span style="font-family: "arial" , "helvetica" , sans-serif; font-size: x-small;">Net sales</span></div>
</td>
<td class="td1" valign="top"><div class="p1">
<span style="font-family: "arial" , "helvetica" , sans-serif; font-size: x-small;">11,852</span></div>
</td>
</tr>
<tr>
<td class="td1" valign="top"><div class="p1">
<span style="font-family: "arial" , "helvetica" , sans-serif; font-size: x-small;">Other revenue</span></div>
</td>
<td class="td1" valign="top"><div class="p1">
<span style="font-family: "arial" , "helvetica" , sans-serif; font-size: x-small;">1,682</span></div>
</td>
</tr>
</tbody>
</table>
<span style="font-family: "arial" , "helvetica" , sans-serif;"><br /></span>
<span style="font-family: "arial" , "helvetica" , sans-serif;">– The direct costs per country were not disclosed. However, the annual report was surprisingly honest about the situation in Iceland:</span><br />
<span style="background-color: #fff2cc; font-family: "arial" , "helvetica" , sans-serif;">"In Iceland, the total revenue in 2018 amounted to SEK 13.5 (15.1) million, corresponding to a decrease of 10% compared with the previous year. In addition, the Icelandic target corresponded to 2% (3%) of the total revenue. The market has experienced lower Partner activity for several years, which has hampered sales growth in the last few years. The work to stimulate the market with attractive campaigns and sales events has been ongoing and during the last six months has seen some results as the Partner activity has increased again and the sales reduction in the market has halted."</span><br />
<span style="font-family: "arial" , "helvetica" , sans-serif;">– In other words the change in the IT system wasn't the issue but the crumbling of the pyramid shaped distributor network. In a small country such as Iceland it doesn't take so long for the growth of this kind of distributor organisation to meet its boundaries.</span><br />
<span style="font-family: "arial" , "helvetica" , sans-serif;"><br /></span>
<span style="font-family: "arial" , "helvetica" , sans-serif;">The major problem with MLM in general is that most of the distributors are not that interested in selling products but growing their network instead.</span><br />
<span style="font-family: "arial" , "helvetica" , sans-serif;"><br /></span>
<span style="font-family: "arial" , "helvetica" , sans-serif;"><br /></span>
<br />
<h2>
<span style="font-family: "verdana" , sans-serif;">"Zinzino Balance shake said to cure menstrual cramps, coronary artery disease, diabetes, Asperger's and ADHD, vision, dyslexia"</span></h2>
<span style="font-family: "arial" , "helvetica" , sans-serif;"><br /></span>
<span style="font-family: "arial" , "helvetica" , sans-serif;">Yes, this is how Zinzino's Balance product have been marketed in Iceland according to an article published by <a href="https://www.visir.is/g/2015150309585/zinzino-balance-shake-sagdur-laekna-turverki-kransaedastiflu-sykursyki-bakflaedi-laga-asperger-og-adhd-sjon-lesblindu...">visir.is</a> in March 2015. I'm sure the company has done everything by the book abiding laws and regulations, but there's no way to control how independent sales representatives market products. Back then Zinzino tried to handle the situation in Iceland by <a href="https://www.visir.is/g/2015150309636">sending a warning to its distributors</a> guiding them only to use appropriate sales pitches. </span><br />
<span style="font-family: "arial" , "helvetica" , sans-serif;"><br /></span>
<span style="font-family: "arial" , "helvetica" , sans-serif;"><br /></span>
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<div class="separator" style="clear: both; text-align: center;">
<a href="https://1.bp.blogspot.com/-o3WGjcNyPm4/XWZwC5PyxUI/AAAAAAAADA4/p8Ze4YxpqsAm5IuugwjeuB-DMCkSvlGLACLcBGAs/s1600/snake_oil_salesman.gif" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><span style="font-family: "arial" , "helvetica" , sans-serif;"><img border="0" data-original-height="250" data-original-width="434" src="https://1.bp.blogspot.com/-o3WGjcNyPm4/XWZwC5PyxUI/AAAAAAAADA4/p8Ze4YxpqsAm5IuugwjeuB-DMCkSvlGLACLcBGAs/s1600/snake_oil_salesman.gif" /></span></a></div>
<span style="font-family: "arial" , "helvetica" , sans-serif;"><br /></span>
<span style="font-family: "arial" , "helvetica" , sans-serif;"><br /></span>
<span style="font-family: "arial" , "helvetica" , sans-serif;">The use of prohibited and illegal marketing claims is a sort of common practice in MLM selling health supplements around the world. Companies themselves don't have to break any laws because they can recruit an army of independent sales representatives to do all the dirty work for them. </span><br />
<span style="font-family: "arial" , "helvetica" , sans-serif;"><br /></span>
<span style="font-family: "arial" , "helvetica" , sans-serif;">What comes to the struggling sales reps, marketing overpriced health supplements can be somewhat easier when the products are promised to cure all kinds of diseases.</span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;">I'm not familiar with Icelandic legislation but I believe it's pretty close to Finnish what comes to health/dietary supplements. To put it short dietary supplements are not medicines. Any claim even implying so is prohibited by law.</span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;">However, despite legislation and supervision, prohibited and illegal sales pitches marketing health supplements are common also in Finland in multi-level-marketing. As an outrageous example I r</span><span style="font-family: "arial" , "helvetica" , sans-serif;">ecommend this article about <a href="https://behindmlm.com/companies/doctor-claims-juice-plus-supplement-makes-smoking-safe/">a Finnish </a></span><span style="font-family: "arial" , "helvetica" , sans-serif;"><a href="https://behindmlm.com/companies/doctor-claims-juice-plus-supplement-makes-smoking-safe/">Doctor who claimed that Juice Plus supplement would make smoking safe</a>.</span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif; font-size: x-small;"><b>Sources:</b></span><br />
<span style="font-family: "arial" , "helvetica" , sans-serif; font-size: x-small;">You can find Zinzino's financial reports <a href="https://www.zinzino.com/site/US/en-US/page/About/Corporate-Info/Financial-Reports">here</a>.</span></div>
Ari Widellhttp://www.blogger.com/profile/08889226197358610337noreply@blogger.com0tag:blogger.com,1999:blog-4779620886549453292.post-64131261469378683822019-07-23T20:01:00.001+03:002019-11-13T16:24:26.129+02:00Initiative Q – professors making fools of themselves<span style="font-family: "arial" , "helvetica" , sans-serif;">It's been well over six months since my <a href="https://kusetukset.blogspot.com/2018/11/initiative-q-nonsense-spreading-like.html">review on Initiative Q</a> so it's about time to have a look at what's going on with the scheme.</span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;">Below is the roadmap published on Initiative Q's website. According to the roadmap the recruitment campaign of the scheme is about to end. The next phase, starting in the mid 2019, should be development of payment network.</span><br />
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<tr><td class="tr-caption" style="text-align: center;"><span style="font-family: "arial" , "helvetica" , sans-serif;"><b>The roadmap of Initiative Q. (click to enlarge)</b></span></td></tr>
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<span style="font-family: "arial" , "helvetica" , sans-serif;">Initiative Q has been awkwardly silent ever since traffic to the website started to plummet after peaking in the late 2018. The latest post on the official Facebook page has been published in March 2019.</span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;">Google Trends show that there hasn't been much interest towards Initiative Q for about six months.</span><br />
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<span style="font-family: "verdana" , sans-serif;">Professors making fools of themselves</span></h3>
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<span style="font-family: "arial" , "helvetica" , sans-serif;">On Initiative Q's webpage there are four people introduced as being the economists behind Initiative Q. They all seem to be real people.</span><br />
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<tr><td class="tr-caption" style="text-align: center;"><span style="font-family: "arial" , "helvetica" , sans-serif;"><b>The economists behind Initiative Q: </b></span><br />
<span style="font-family: "arial" , "helvetica" , sans-serif;"><b>Lawrence H. White, Professor of economics at George Mason University</b></span><br />
<span style="font-family: "arial" , "helvetica" , sans-serif;"><b>Marc Rysman, Professor of economic at Boston University</b></span><br />
<span style="font-family: "arial" , "helvetica" , sans-serif;"><b>William J. Luther, Assistant professor of economics at Florida Atlantic University</b></span><br />
<span style="font-family: "arial" , "helvetica" , sans-serif;"><b>James Caton, Assistant professor of economics at North Dakota State University </b></span></td></tr>
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<span style="font-family: "arial" , "helvetica" , sans-serif;">Being the economists behind this ridiculousness I'd sure like to hear them explaining how Initiative Q is supposed to work. After all, they are the ones giving their names and faces to this "self-fulfilling prophecy" that no-one should miss.</span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;">Let's go through some known facts that I find worth mentioning.</span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;">We don't know exactly how many people have joined the scheme by now. However, in November 2018 Initiative Q announced reaching 5 million users. At the time Initiative Q was giving away its future currency claiming that each position was going to have an estimated future value of over 19.000 dollars.</span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;">In January 2019 the website announced that over 6 million people had joined Initiative Q. At the time the scheme was gifting the people joining with positions of estimated future value of over 17.000 euros. <a href="https://www.themarker.com/technation/.premium-1.7317659?fbclid=IwAR2Xj_XFZt6E2OL8hMSqbJXtMzvxgItmqBJG5PMoe0upnxjbNpD8IPIO4Dw">An article</a> published in early June let's us know that Initiative Q has 7 million registered users. Currently Initiative Q is gifting new members with positions worth about 16.500 imaginary dollars.</span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;">If I understood the system correctly each user gets 10 % of the currency reserved for a position just by joining. The rest must be earned by recruiting more people to join (and finishing possible other tasks).</span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;">This means that even with the minimum amount of the currency given to each member Initiative Q has given away its currency for a total amount of way more than 12 billion dollars – based on the imaginary value of the currency.</span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;">Whether there would be 7 million or even 100 million people as members is meaningless in my opinion. There would still be nothing backing up the value the project has self-proclaimed.</span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;">Although stupidity is an endless resource I find it hard to believe that anyone would take this scheme seriously enough to start investing real money in to this... Unless they would develop it into OneCoin like ponzi-pyramid scheme. Still, it would only be yet another scam.</span><br />
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<tr><td class="tr-caption" style="text-align: center;"><span style="font-family: "arial" , "helvetica" , sans-serif;">Initiative Q celebrating reaching 5 million users in November 2018.</span></td></tr>
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<tr><td class="tr-caption" style="text-align: center;"><span style="font-family: "arial" , "helvetica" , sans-serif;">Screencap from the website in January 2019.</span></td></tr>
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<span style="font-family: "arial" , "helvetica" , sans-serif;">Now, I would really like to ask these professors of foolishness that how is this nonsense supposed to become a reality?</span><br />
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<span style="font-family: "verdana" , sans-serif;">Meanwhile Saar Wilf goes Bzigo</span></h3>
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<span style="font-family: "arial" , "helvetica" , sans-serif;">The man behind the idea of Initiative Q, Saar Wilf, has been silent about the project as well. It seems that he has been lately more interested in the future of killing insects.</span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;">At first I thought this was a lousy and somewhat disturbing parody ad but it now seems that it is a genuine thing that Saar Wilf has put his heart and mind into:</span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;">The device is called <a href="https://www.themarker.com/technation/.premium-1.7317659?fbclid=IwAR2Xj_XFZt6E2OL8hMSqbJXtMzvxgItmqBJG5PMoe0upnxjbNpD8IPIO4Dw">"Bzigo"</a>. However, it does not kill insects but only locates them in a room and points them out with a lazer beam.</span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;">Well, I don't think that a device that is only designed to locate mosquitos is going to be a success, but then again I might be dead wrong and this might only be another self-fulfilling prophecy about to happen.</span><br />
<span style="font-family: "arial" , "helvetica" , sans-serif;"><br /></span>Ari Widellhttp://www.blogger.com/profile/08889226197358610337noreply@blogger.com4tag:blogger.com,1999:blog-4779620886549453292.post-28238587851954463282019-06-19T01:24:00.000+03:002019-06-19T13:39:57.458+03:00U.S. v. Konstantin Ignatov – a motion for bail pending trial<div class="separator" style="clear: both; text-align: center;">
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<span style="font-family: "arial" , "helvetica" , sans-serif;">There hasn't been much news about the upcoming trial of U.S. versus Konstantin Ignatov yet. At the moment the only reliable source of information are court documents published online.</span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;">After a long period of silence a new court document was filed today. It's a <a href="https://www.scribd.com/document/413767648/Case-1-17-Cr-00630-ER-Doc-87-Ignatov-Request-for-bail-pending-trial?fbclid=IwAR1EGRWgVYMwSffL1vy0fQ4rJS7m5M92X2URZCVuSx47yQiy4QNnFcSgMi8">"Letter" in support of Konstantin's motion for bail pending trial</a>. This letter by defence attorney Jeffrey Lichtman isn't exactly a surprise move but the content of the letter is quite hilarious as it draws a picture of Konstantin as the most philanthropist guy with a golden heart. </span><span style="font-family: "arial" , "helvetica" , sans-serif;">The letter goes on over 70 pages trying to convince the judge that a bail pending trial is in order. </span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;">Among presenting other court cases to back up the motion the defence considers Konstantin doesn't pose credible risk of flight. To vouch for this the defence proposes some conditions to go along if Konstantin's bail were to be set:<br />"He would be released via a $20M personal recognizance bond, secured by $10M in cash and property put up by persons who have placed their unwavering trust in the fact that Mr. Ignatov will remain to face these charges."<br />– I wonder if that cash and property includes any money originating to OneCoin.<br /><br />The proposed pre-trial release also include 24 hour armed guards at Konstantin's expense and isolating him to an apartment in the district and shared with his "pregnant girlfriend". Konstantin would also agree not to use cellphones and his location would be monitored via a GPS bracelet. – I don't know where Konstantin would get all that money for the guards. Maybe he will offer them onecoins?<br /><br />The defence also seems to project that the fact that Konstantin got arrested somehow reflects his innocence. – Yet it's not like Konstantin turned himself in to sort things out. He also lied to border patrol agents upon entering the United States. I find it more likely that he was just pompous enough to make himself believe that he was untouchable. </span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;">The motion includes over 20 letters by relatives and friends of Konstantin trying to appeal the judge. Many of them expressing an utmost shock and disbelief that Konstantin would even hurt a fly, let alone defraud people. Besides, how could Konstantin as an "animal lover" be guilty of wire fraud?</span><span style="font-family: "arial" , "helvetica" , sans-serif;"> </span><span style="font-family: "arial" , "helvetica" , sans-serif;">It's also worth mentioning that one of the letters is from Veska Ignatov who has been involved in OneCoin scam. Yes, the very scam that the court case is about. </span></div>
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<span style="font-family: "arial" , "helvetica" , sans-serif;">Well, I'm pretty sure the prosecutor could easily collect thousands of letters speaking against those letters presented by the defence. </span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;">Heck, I don't even know Konstantin personally but even I know that he's a liar. For example, quoting my blog post <a href="https://kusetukset.blogspot.com/2018/10/onecoin-d-day-8th-october-2018.html">in October 2018</a>:</span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;"><br /><span style="background-color: #fff2cc;">Another one of Konstantin Ignatov's lies is a petty one in comparison, but it certainly doesn't lack in magnitude. On his Facebook post 30 August, Konstantin was boasting: "Being featured in one of the biggest magazines, with 10 million readers." </span></span></blockquote>
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<a href="https://1.bp.blogspot.com/-HPw-b-AZXaU/W9Lz61VQ8wI/AAAAAAAACqM/n5SOkadM9k0iX9E7XAwZHgPNmEjCnxsmQCLcBGAs/s1600/konstantin_bullshit.jpg" imageanchor="1" style="margin-left: 16px; margin-right: 16px;"><span style="background-color: #fff2cc; font-family: "arial" , "helvetica" , sans-serif; margin: 0px;"><img border="0" data-original-height="1278" data-original-width="1278" height="320" src="https://1.bp.blogspot.com/-HPw-b-AZXaU/W9Lz61VQ8wI/AAAAAAAACqM/n5SOkadM9k0iX9E7XAwZHgPNmEjCnxsmQCLcBGAs/s320/konstantin_bullshit.jpg" style="cursor: move;" width="320" /></span></a></div>
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<span style="background-color: #fff2cc; font-family: "arial" , "helvetica" , sans-serif;">That was of course a lie. Numbers magazine has only 3.000 copies printed. In addition OneCoin had most likely paid for the article to be published. The company happened to be sponsoring the magazine at that time.</span></blockquote>
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<span style="font-family: "arial" , "helvetica" , sans-serif;">Konstantin Ignatov has also publicly claimed that there were only three people besides him who had seen OneCoin's blockchain. According to him these people were his sister Ruja Ignatova, his mother Veska Ignatov and the head of the (il-)legal department of OneCoin (most likely referring to Irina Dilkinska). Considering that OneCoin hasn't even had a blockchain to begin with the claim by Konstantin is absolutely incriminating.</span>Ari Widellhttp://www.blogger.com/profile/08889226197358610337noreply@blogger.com1tag:blogger.com,1999:blog-4779620886549453292.post-36650338095619642742019-06-08T11:28:00.001+03:002019-06-08T11:29:26.443+03:00US Government: OneCoin didn't have any legitimate business activity<span style="font-family: "arial" , "helvetica" , sans-serif;">On January 25, 2019, Mark Scott's defence requested US prosecution to turn over any evidence that might speak on behalf of Scott not being aware of the criminal nature of OneCoin and thus the money laundering side of the business. </span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;">As per the US justice system, the prosecution has an obligation to provide any potentially exculpatory information that may directly, or indirectly, rebut the prosecution's case to assist the defence in making its case.</span><br />
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<a href="https://1.bp.blogspot.com/-OIwa2P_0YlY/XPtn7RS0LaI/AAAAAAAAC94/RO7Ibcr1C4EScWpZfq43MNI4g_5blEDiQCLcBGAs/s1600/letter_01.png" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><span style="font-family: "arial" , "helvetica" , sans-serif;"><img border="0" data-original-height="810" data-original-width="925" height="350" src="https://1.bp.blogspot.com/-OIwa2P_0YlY/XPtn7RS0LaI/AAAAAAAAC94/RO7Ibcr1C4EScWpZfq43MNI4g_5blEDiQCLcBGAs/s400/letter_01.png" width="400" /></span></a></div>
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<span style="font-family: "arial" , "helvetica" , sans-serif;">The response by the US Government tells us about evidence of "direct communications between the defendant and Ruja Ignatova, one of the founders and leaders of OneCoin, in the months leading up to the establishment and use of the Fenero funds to launder the proceeds of the OneCoin fraud scheme".</span><br />
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<a href="https://1.bp.blogspot.com/-iKX9gFhbYKY/XPtrXznWQdI/AAAAAAAAC-E/xoRyEDRG6S8ej_Z_u6vGQ2fwzBdRnSGHwCLcBGAs/s1600/letter_02.png" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><span style="font-family: "arial" , "helvetica" , sans-serif;"><img border="0" data-original-height="771" data-original-width="676" height="400" src="https://1.bp.blogspot.com/-iKX9gFhbYKY/XPtrXznWQdI/AAAAAAAAC-E/xoRyEDRG6S8ej_Z_u6vGQ2fwzBdRnSGHwCLcBGAs/s400/letter_02.png" width="350" /></span></a></div>
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<span style="font-family: "arial" , "helvetica" , sans-serif;">Finally the US Government response concludes with lines that pretty much sums it all:</span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;">"The Government is not aware of <b>any</b> evidence that OneCoin was, during the relevant period, engaged in any legitimate business activity."</span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;">"While OneCoin Ltd. and its associated business entities on occasion contracted with legitimate service providers and vendors in orger to further the scheme, its core business of marketing and selling so-called "OneCoin trader packages" to its members <b>was completely fraudulent</b>."</span><br />
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<a href="https://1.bp.blogspot.com/-gz47gd0PjrQ/XPtr8yxntEI/AAAAAAAAC-M/AL9x7LaNilsup4fGAPW9A9hLYwpv9hxdACLcBGAs/s1600/letter_03.png" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><span style="font-family: "arial" , "helvetica" , sans-serif;"><img border="0" data-original-height="570" data-original-width="636" height="357" src="https://1.bp.blogspot.com/-gz47gd0PjrQ/XPtr8yxntEI/AAAAAAAAC-M/AL9x7LaNilsup4fGAPW9A9hLYwpv9hxdACLcBGAs/s400/letter_03.png" width="400" /></span></a></div>
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<span style="font-family: "arial" , "helvetica" , sans-serif;">Credits to <a href="https://twitter.com/Svrakata/status/1136979599341101056">Nickolay Stoyanov</a> from Capital Weekly for the information.</span>Ari Widellhttp://www.blogger.com/profile/08889226197358610337noreply@blogger.com1tag:blogger.com,1999:blog-4779620886549453292.post-87039343117564666862019-06-08T00:43:00.000+03:002019-06-08T10:18:20.771+03:00OneCoin still luring victims to wire transfer money to company's money laundering program<span style="font-family: "arial" , "helvetica" , sans-serif;">International criminal organisation OneCoin/OneLife released a newsletter this week luring gullible people to donate money to the scam's money laundering program specifically endorsing bank wire transfers.</span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;">So it seems likely that traditional bank wire transfers still are the most important source of funds to the scam. The newsletter makes an extra effort to market bank wire transfers as the best option to choose from by stating: </span><br />
<span style="font-family: "arial" , "helvetica" , sans-serif;"><i><b>"One more great promotion has come back for 2 more weeks! Buy 3 ONEACADEMY Educational packages via Bank Wire and get 1 free!"</b></i></span><br />
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<a href="https://1.bp.blogspot.com/-eRR5sju94P4/XPd-dcHlBXI/AAAAAAAAC9g/hXUF3faIUKow4c5UQygjh9gPS9mXDhKLwCLcBGAs/s1600/screencap_newsletter_w23.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><span style="font-family: "arial" , "helvetica" , sans-serif;"><img border="0" data-original-height="607" data-original-width="540" src="https://1.bp.blogspot.com/-eRR5sju94P4/XPd-dcHlBXI/AAAAAAAAC9g/hXUF3faIUKow4c5UQygjh9gPS9mXDhKLwCLcBGAs/s1600/screencap_newsletter_w23.jpg" /></span></a></div>
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<span style="font-family: "arial" , "helvetica" , sans-serif;">Of course no one in their right mind is buying those "educational packages". On the other hand the victims of the scam are buying these packages only for the sake of onecoins they will get after purchasing a package – or multiple packages.</span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;">To promote these packages as education is just ridiculous, and the fact that the victims of the scam are lured to buy several of them makes the whole thing just that more ridiculous. But like Konstantin Ignatov said: "The network would not work with intelligent people." </span><br />
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<tr><td style="text-align: center;"><a href="https://1.bp.blogspot.com/-pxPFiO1E7Jo/XPeJ7YGftZI/AAAAAAAAC9s/bbb9fVUcZCcjW9f6BnJhFHtIkNGh4AMlQCLcBGAs/s1600/payment_options.jpg" imageanchor="1" style="margin-left: auto; margin-right: auto;"><span style="font-family: "arial" , "helvetica" , sans-serif;"><img border="0" data-original-height="854" data-original-width="640" height="400" src="https://1.bp.blogspot.com/-pxPFiO1E7Jo/XPeJ7YGftZI/AAAAAAAAC9s/bbb9fVUcZCcjW9f6BnJhFHtIkNGh4AMlQCLcBGAs/s400/payment_options.jpg" width="299" /></span></a></td></tr>
<tr><td class="tr-caption" style="text-align: center;"><span style="font-family: "arial" , "helvetica" , sans-serif;"><b>Screencapture taken from a user account showing payment options of the shopping section of onelife.eu. <i>– Oops, sorry, can't tell the bank account details. Please, contact a scammer for further information.</i></b></span></td></tr>
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<span style="font-family: "verdana" , sans-serif;">If it's proven as a scam, it is a scam</span></h3>
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<span style="font-family: "arial" , "helvetica" , sans-serif;">After the results of the US investigation were published there's really no excuse for anyone with a faintest hint of common decency to promote OneCoin.</span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;">All things considered no legitimate business would even continue operating under these kind of heavy charges, let alone disregard all the factual evidence that revealed undeniably how OneCoin was designed just to defraud people.</span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;">That been said I don't think the remaining staff at the Sofia office have any kind of moral backbone whatsoever.</span><br />
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<span style="font-family: "verdana" , sans-serif;">OneCoin ditched New DealShaker</span></h3>
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<span style="font-family: "arial" , "helvetica" , sans-serif;">On May 23 2019 OneCoin announced that the members should no longer use New DealShaker (aka DealShitter) plaform. Yes, the very platform that has been heavily promoted by the company and the members since the beginning of 2019.</span><br />
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<a href="https://1.bp.blogspot.com/-72pYWYF1Pu4/XO0p9eqP9cI/AAAAAAAAC9M/16enIdWcFd4i72Vf0QedvzcHNQGp-qFZwCPcBGAYYCw/s1600/announcement.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><span style="font-family: "arial" , "helvetica" , sans-serif;"><img border="0" data-original-height="516" data-original-width="540" src="https://1.bp.blogspot.com/-72pYWYF1Pu4/XO0p9eqP9cI/AAAAAAAAC9M/16enIdWcFd4i72Vf0QedvzcHNQGp-qFZwCPcBGAYYCw/s1600/announcement.jpg" /></span></a></div>
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<span style="font-family: "arial" , "helvetica" , sans-serif;">Now the company requests everyone to transfer their deals from the New DealShitter back to the old DealShitter. As the announcement says this is all because due to "recent technical issues" which refers to the inevitable difficulties that accumulate from running a ponzi pyramid scheme.</span></div>
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<span style="font-family: "arial" , "helvetica" , sans-serif;">According to US investigation of OneCoin and as many had suspected before, DealShaker platform was only designed to provide a cover to the ponzi business. A market place build on a ponzi coin just isn't sustainable.</span></div>
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<span style="font-family: "arial" , "helvetica" , sans-serif;">OneCoin didn't have a blockchain, the coin had no real value and there wasn't going to be an exchange for the members to cash their possessions. Yet Duncan Arthur and his team were hired to manufacture a new platform to replace the old one. The only reason for this operation was probably just to distract the existing members from demanding an exchange to be launched. DealShaker gave the company and it's representatives an excuse for further delays. Thus there was also more time to milk money from new victims.</span></div>
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<tr><td class="tr-caption" style="text-align: center;"><span style="font-family: "arial" , "helvetica" , sans-serif;"><b>Duncan Arthur, the beloved Project Manager of DealShaker 2016–2019.</b></span></td></tr>
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<span style="font-family: "arial" , "helvetica" , sans-serif;">There has been some leaked correspondence suggesting that Duncan Arthur wasn't exactly enjoying much trust from behalf of the top leaders of the scam. The conversation between the parties turned eventually into quarrel and led the company abandoning new DealShaker, thus ending also Duncan Arthur's involvement in OneCoin/OneLife. (As a matter of fact he was already providing his services to OneCoin since October 2016 as the "Project Lead" of the old version of DealShaker.)</span></div>
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<span style="font-family: "verdana" , sans-serif;">The developing team of DealShaker confirms that there is no blockchain</span></h3>
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<span style="font-family: "arial" , "helvetica" , sans-serif;">After Konstantin's arrest <a href="https://behindmlm.com/companies/onecoin/new-dealshaker-dev-team-confirms-onecoin-has-no-blockchain/">a report sent by a member of the DealShaker developing team has been circling around online</a>. The message revealed that the developing team of the new DealShaker had found out that OneCoin had no blockchain. </span></div>
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<span style="font-family: "arial" , "helvetica" , sans-serif;">However, I find it hard to believe that the absence of blockchain came as a surprise to the team, let alone to Duncan Arthur who had been involved in the developing of DealShaker ever since October 2016. I'd suspect that the leaked report was an effort by the team to wash their hands of the scam and distance themselves from any criminal activities.</span></div>
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<span style="font-family: Verdana, sans-serif;">Update June 8, 2019</span></h3>
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<span style="font-family: "arial" , "helvetica" , sans-serif;"><a href="https://twitter.com/OneCoinInsider/status/1137248799586471936">A Tweet by OneCoinInsider</a> pointed out that the old version of DealShaker has in fact been integrated with OneCoin and CoinSafe accounts. Yet transactions haven't been visible on OneCoin's "blockchain" simulator that is running in the back office showing the members scripted data mimicking legitimate cryptocurrencies.</span></div>
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<span style="font-family: "arial" , "helvetica" , sans-serif;">Duncan Arthur has been responsible for the developing DealShaker part of the business since October 2016. That certainly raises up a lot of questions regarding his role in providing those two shitty merchant platforms <span style="font-family: "arial","helvetica",sans-serif;">(<span style="-webkit-text-stroke-width: 0px; background-color: transparent; color: black; display: inline !important; float: none; font-size: 16px; font-style: normal; font-variant: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: left; text-decoration: none; text-indent: 0px; text-transform: none; white-space: normal; word-spacing: 0px;">the old and the new one)<span style="-webkit-text-stroke-width: 0px; background-color: transparent; color: black; display: inline !important; float: none; font-size: 16px; font-style: normal; font-variant: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: left; text-decoration: none; text-indent: 0px; text-transform: none; white-space: normal; word-spacing: 0px;"> </span></span></span>to the scam.</span></div>
Ari Widellhttp://www.blogger.com/profile/08889226197358610337noreply@blogger.com1tag:blogger.com,1999:blog-4779620886549453292.post-2247973061599163652019-05-06T12:47:00.000+03:002019-05-16T12:15:47.933+03:00BunnyToken scam follow-up<div class="separator" style="clear: both; text-align: center;">
<a href="https://1.bp.blogspot.com/-bXSDjsn93cA/WryaqSUZAAI/AAAAAAAACSw/u864Oc4FQy08W8uB-Y4F9oR44VjhsfA4wCPcBGAYYCw/s1600/bunnytoken_scam.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><span style="font-family: "arial" , "helvetica" , sans-serif;"><img border="0" data-original-height="347" data-original-width="540" height="205" src="https://1.bp.blogspot.com/-bXSDjsn93cA/WryaqSUZAAI/AAAAAAAACSw/u864Oc4FQy08W8uB-Y4F9oR44VjhsfA4wCPcBGAYYCw/s320/bunnytoken_scam.jpg" width="320" /></span></a></div>
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<span style="font-family: "arial" , "helvetica" , sans-serif;">It has been over one year since my <a href="https://kusetukset.blogspot.com/2018/04/bunny-token-scam-update-staff-cuts.html">latest post about BunnyToken</a> so I guess it's about time to check out the current situation.</span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;">Apparently BunnyToken managed to get listed on an exchange called Yobit during last summer. I guess the scammers behind Bunny were already losing interest in the scam because they almost forgot to inform the investors about the news. </span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;">Yobit doesn't seem to be too picky about accepting tokens on their exchange. Practically any ERC20 token will do so getting BunnyToken listed there wasn't exactly a great accomplishment. According to Bitcoinwiki "Yobit.net is a Russia based cryptocurrency exchange that is famous for its controversial nature." I did find some articles and posts online characterising YoBit in less flattering manner.</span><br />
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<tr><td class="tr-caption" style="text-align: center;"><span style="font-family: "arial" , "helvetica" , sans-serif;"><b>Posted on Facebook on July 2, 2018.</b></span></td></tr>
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<span style="font-family: "arial" , "helvetica" , sans-serif;">Shortly after getting listed on YoBit BunnyToken informed about getting listed on another small-time exchange, <a href="http://www.stex.com/">STEX</a> (Stock Exchange).</span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;">I could not find BunnyToken on the exchange anymore. However, <a href="https://www.google.com/search?q=bunnytoken+www.stex.com%2F&oq=bunnytoken+www.stex.com%2F&aqs=chrome..69i57.4327j1j4&sourceid=chrome&ie=UTF-8">Google shows some search results</a> indicating that the token in fact was listed there for an unknown period.</span><br />
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<a href="https://3.bp.blogspot.com/-H1ARbl1CEsA/XMw64TGM6II/AAAAAAAAC8E/x-i3Qg-BlbMzEw0f6mE58PvCWJ3M4F9agCLcBGAs/s1600/FB_090818.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><span style="font-family: "arial" , "helvetica" , sans-serif;"><img border="0" data-original-height="427" data-original-width="540" src="https://3.bp.blogspot.com/-H1ARbl1CEsA/XMw64TGM6II/AAAAAAAAC8E/x-i3Qg-BlbMzEw0f6mE58PvCWJ3M4F9agCLcBGAs/s1600/FB_090818.jpg" /></span></a></div>
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<span style="font-family: "arial" , "helvetica" , sans-serif;">Also <a href="https://coinmarketcap.com/currencies/bunnytoken/">Coinmarketcap.com</a> recognises BunnyToken. It seems that Bunny hasn't had much popularity in the market. The highest trading volume was reached in September 2016 going up to about 150k dollars. It has been a downfall for Bunny ever since and the current trading volume for the past couple of days shows 0 dollars.</span><br />
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<tr><td class="tr-caption" style="text-align: center;"><span style="font-family: "arial" , "helvetica" , sans-serif;"><b>Screencap taken on May 3, 2019. (Click to enlarge)</b></span></td></tr>
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<span style="font-family: "verdana" , sans-serif;">Who was behind the scam?</span></h3>
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<span style="font-family: "arial" , "helvetica" , sans-serif;">I had tried to find out who were the actual people behind this scam from the beginning. The team was all fake personalities and there was no information available of the people owning the company or who registered the website. I tried asking one of the advisors of the ICO, Alex Eikster, whether he knew who were behind this project. Eikster admitted knowing the people but refused to give any names.</span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;">Later I tried to contact all other advisors as well; Kira Queen, Nataly Gold, Katrin Tequila and Eva Berger. I wasn't exactly having high hopes of getting answers to my questions but at least Kira Queen was kind enough to respond... Well, actually she only dropped couple short lines and refused to give any names nor to give her opinion about BunnyToken after I gave her all the facts revealing it as a scam.</span><br />
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<tr><td style="text-align: center;"><img border="0" data-original-height="1163" data-original-width="917" height="400" src="https://3.bp.blogspot.com/-ZEYaOZcLCzU/Ws2vWPH9wEI/AAAAAAAACXo/is0Jvdra90QAiHCN1RQMbv4TneIkeP5QACPcBGAYYCw/s400/Screen%2BShot%2B2018-04-11%2Bat%2B09.46.21.png" style="margin-left: auto; margin-right: auto;" width="315" /></td></tr>
<tr><td class="tr-caption" style="text-align: center;"><b><span style="font-family: "arial" , "helvetica" , sans-serif;">BunnyToken Advisors (click to enlarge)</span></b></td></tr>
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<span style="font-family: "verdana" , sans-serif;">The current situation of the scam</span></h3>
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<span style="font-family: "arial" , "helvetica" , sans-serif;">As I already pointed out, there seems to be no interest towards the token in the market. The token is practically absolutely worthless. The ones possessing Bunnies can't even use them anywhere because there isn't a place that accepts this scam token. As far as I know, there has never been a place to use Bunnies.</span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;">The last post on the official Facebook page of Bunny has been posted in January. The post was announcing the release of BunnyWallet on Google Play. As I'm writing this the app has been installed about 100 times. The PEGI rating of the app is 3, which is pretty strange considering that it's a wallet app for adult entertainment.</span><br />
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<a href="https://2.bp.blogspot.com/-dmYeL0xUDZQ/XM_u75UIuKI/AAAAAAAAC8o/GDT4z-HeycUHl43DTYPf7jAziXX0bEMrwCLcBGAs/s1600/bunny_fb_post_january.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><span style="font-family: "arial" , "helvetica" , sans-serif;"><img border="0" data-original-height="563" data-original-width="540" src="https://2.bp.blogspot.com/-dmYeL0xUDZQ/XM_u75UIuKI/AAAAAAAAC8o/GDT4z-HeycUHl43DTYPf7jAziXX0bEMrwCLcBGAs/s1600/bunny_fb_post_january.jpg" /></span></a></div>
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<span style="font-family: "arial" , "helvetica" , sans-serif;">So it seems that this scam project has been abandoned and we'll probably never hear about it again. Once again scammers have learned that crime sometimes does actually pay. What comes to the investors owning all those Bunnies that were sold during the ICO, they certainly got screwed.</span>Ari Widellhttp://www.blogger.com/profile/08889226197358610337noreply@blogger.com0