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Thursday, 19 October 2017

Recyclix scam still (mis-)leading its victims



After long period of quiet time the so called "official blog" of Recyclix has made a new post on 16 October 2017. It's titled "Update on Progress of the Governmental Investigations" and it goes on to explaining about ongoing investigations and legal cases in Latvia, Poland and the Czech Republic.

Once again, I strongly recommend not to trust the scammers of the "official blog" nor the scammers publishing on Recyclix.com. If anyone of the victims wishes to have money back from the seized funds left from the scammers, the best way is to contact the police in the country where the original bank deposit was made.

Bear in mind that police don't usually give much information about ongoing investigations. Yet the official blog of Recyclix has been blurting out details about the case and investigations. That's rather bizarre since the company and the people involved in it are the ones investigated.

Even though there actually might be some Recyclix related court cases going on, the outcome of those verdicts could not be beneficial to the victims but to the scammers. The actual court cases could just be about disputes 
between the scammers of the ownership of the company and its assets.

Don't trust anything published by the people who have already scammed you once.


The scammers asking the victims to file a very suspicious motion


There's a strange plea in an earlier post made on 14 July asking the victims to send a dictated statement to Latvian police, Olga Lugus, Economic Crimes Office.

The blog post says: 
"Example of this statement, which you will need to send to the investigator in Latvian, is available over here. All those who would like to get familiar with this document in English can access it over here."

- The downloadable document contains a dictated "Motion on the criminal case No. 11816012816".

The motion ends with:
"Insofar as I understand it, the origin of the funds has already been traced during the investigation within the criminal case No. 11816012816. Consequently, further seizure of these funds is unpractical as it does not meet the interests of the victims who invested these funds in Recyclix since they are not involved in the criminal wrongdoing under investigation.

Revocation of seizure of these funds can in no way influence further investigation of the criminal case.

Pursuant to Article 357 of the Criminal Procedural Law, which provides for return of the property obtained by criminal means, in view of the aforesaid,

I hereby request

To consider return of these funds to me.

Attachment: Documents confirming that the funds belong to me."

- Now, is this motion about refunding the victims or about revocation of seizure of the funds? If I was a victim, I'd contact the police first to ensure that this motion would ensure returning the funds to the exact bank account of victims and not to the scammers. 


Recyclix Crisis Management Team


The person behind the blog posts of claims to be Yaroslav Mikhalsky from "Recyclix Crisis Management Team". I still haven't found a single thread of evidence that this Yaroslav Mikhalsky was a real person. And where from earth did he emerge with his team to direct a scam company?

What's the real interest behind this new management team to work for a crumbled ponzi pyramid scam? They have been working months already to "help" poor ponzi victims. They certainly aren't getting any salaries paid from this - unless pocketing money from the company assets. Or maybe they are just hoping to get generously compensated by themselves after getting their hands on the funds that have been seizured?

Tuesday, 3 October 2017

Business For Home drops Ruja from a poll – Updated!





Bullshit For Home Review


Business For Home (aka Bullshit For Home) is a corrupted blog endorsing various MLM based scams from around the world. Although BFH has even some articles giving warning about scams - like this one - it's very obvious that BFH isn't a place of integrity and actual facts. 

OneCoin particularly has gained a lot of visibility on this blog ran by Ted Nuyten. Despite all the negative press, authorities waving red flags, arrested reps, and above all OneCoin being an obvious ponzi-pyramid-scam, Nuyten's blog has been a loyal lackey of the scam since 2015. 

In fact you can't find a single bad news about OneCoin on his blog – and it's not like there ever has been a shortage of them. OneCoin simply hasn't had any other way for positive news but paying for them.

Alexa-ratings of the two webpages might indicate the importance of OneCoin to BFH and vise versa. The collapse of OneCoin started in the late 2016. Since then also the traffic to BFH has been decreasing.



The BFH's marketing kit OneCoin has chosen seems to include several positions on the "Top Earner Ranks" list, which is infested with OneCoin reps.


Top Earner Ranks list filtered with word OneCoin. This screencapture shows the top ten earners from OneCoin.


BFH giving its blessing to OneCoin ponzi scam with grade A+.



Awkward Hartley Interview by Nuyten


Ted Nuyten himself was also interviewing Edward Hartley about OneCoin in this six minute video.


Ted Nuyten: "Now a difficult question. A lot of people say: Listen, OneCoin it is a ponzi. - That is of course an ögly one. Now, you are a forensic accountant, so give me a reason why is it not?" 
Edward Hartley: "You know what, look, I can't tell you it is not per se, because everyone's has a perspective..." 
Then Hartley goes on to blabber about how Bitcoin and other things have been considered being scams by some.

Despite Nuyten asked that "ögly" question, this really is just a marketing video for OneCoin. Well, at least Hartley's awkward answer to his question reveals that there wasn't a script to follow.


Ted Nuyten interviewing Edward Hartley. Video link here.


Business For Home drops Ruja from a poll


BFH also publishes yearly poll, "The Top Direct Selling CEO In The World Poll". Accordingly has OneCoin/OneLife been urging its members to vote Ruja Ignatova to the top every year. 

Despite Pierre Arens and Pablo Munoz being the current CEO's, Ignatova was once again appointed to the competition on the official Facebook page of OneLife. It's also worth mentioning that Pablo Munoz has disappeared after his last public appearance in Spring. The company has not made any comments about the absence of Munoz.


OneLife urging its members to vote Ignatova on the official Facebook page.


I recall checking out the poll during last week and noticing Ignatova occupying the second place with maybe 3.000 votes or so. I happened to check out the poll standings during Monday and Ignatova had been removed from the poll. – Didn't Ruja pay her bills anymore, Ted?


Business For Home deleting bad reviews


Surprisingly BFH gives an opportunity to anyone to write reviews about MLM companies and rate them. Also OneLife/OneCoin was available for reviewing so I decided to give it a go and wrote an honest review about it. I did mention that it was a ponzi and authorities from several countries had been giving warnings about it. I concluded with giving OneCoin the lowest rating, one star out of five. It didn't take long after my review was deleted.

Afterwards I have also seen other reviews giving bad ratings to OneCoin there and they all have been deleted.

– Now, Ted, that's a pretty ögly thing to do. Therefore I give your blog the highest turd-rating possible, five turds out of five.



Update 5 October


And now Ignatova is back at the second place of the poll.

Ted Nuyten has commented:


Yeah, you really showed them! – This must be the one and only poll in the whole world where thousands of dollars are paid to hackers just to win a meaningless poll on a blog.

It's not like there's any sense in this yearly poll of finding out the best scam CEO of the year, but accusing scammers of cheating in this poll? Come on, Ted! – Isn't this all about scamming in the first place!


Just to amuse ourselves, let's have a look at the results of the past polls. According to BFH there was about 100.000 votes given in 2015, about 40.000 in 2016 and about 17.000 now in 2017. 

The result of the last year's poll show that Ignatova got only 344 votes, even though OneCoin was urging its members to vote for Ignatova via newsletter and on the company's Facebook page as well. I guess the members just didn't value the efforts of their almighty leader that year.




Friday, 15 September 2017

Global InterGold - Bank changes and a scandal in Greece


Global InterGold's banking roulette continues


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

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

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


The Embezzlement Scandal in Greece


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

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

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

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


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




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


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



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

Sunday, 10 September 2017

Bad OneCoin! Now, sit!



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

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

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

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

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


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


- Hmm, what to explain to the ponzi investors?


OneCoin abandons its Chinese investors


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


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


According to Techrun.com:

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


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

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

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


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



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


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

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

Friday, 8 September 2017

OneCoin drops IPO plans

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

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

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


"No more IPO"



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

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


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

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

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

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



What about the ICO?


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

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

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



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

Friday, 25 August 2017

Naturalstone scam - following the footsteps of Recyclix?



I just spotted someone advertising this scam to a Facebook group related to Recyclix. I don't know yet if there are any actual connections to Recyclix scam, but there's definitely some resemblance.

On their website Naturalstone claims to be an international company that deals with investments in the Natural Stone sector. According to the website the scam has just recently been launched, 15th of August 2017 to be exact.

Just as any legitimate company would not see any reason to do, Naturalstone takes special care to underline:
- We are not MLM
- We are not HYIP program
- We are not PONZI scheme
- We are real company with real product


Web Security Specialists from the Stone Age


It seems like the scammers setting up this scheme haven't started with a great belief on their success. 

The FAQ section states:



Well, maybe you should take another look on those "specialists in web security", because you're running your business through an unsecured website:



I suppose they are fishing at first if there was enough gullible victims to continue with this scheme before improving the appearance of the ponzi.

The website of the scam presents also a video clip showing some stone quarry men in action. The video clip has been stolen from a YouTube channel and it was originally published on YouTube 22 October 2009.





I couldn't find the actual name of the registered company - if there even is one. The company is using Bitcoin and Payeer to collect ponzi money. No bank wire transfer is available. Considering that bank wire is still the most used means of payment, I would predict a rocky start (heh) for this ponzi business.

The website contains also a section showing the latest investors and their investments made into the scheme. It looks like the bitcoin address of Natural Stone uses doesn't match with the claimed investments. I don't know about the investments made via Payeer but at least all Bitcoin payments seem to be just bogus information to attract victims to join to the ponzi. Also, I'm very sure that the member "HaistaVittu" didn't make that deposit on the list:

I only hope that none of these sums are real. At least I know for sure that HaistaVittu didn't make that deposit.

All in all Naturalstone is very similar to Recyclix. Instead of garbage this new scheme claims to share substantial profits from "Natural Stone" section.

The bottom line: Naturalstone is an obvious scam and no-one should invest a dime in this.