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Friday, 19 May 2017

Recyclix scam - The Game of Ponzi continues



It's been a while since my last post about Recyclix. After the ponzi pyramid collapsed I thought there wouldn't be much to post about the scam anymore. Just closing credits and few words of advise to the victims from my behalf.

However, there has been some crazy statements and claims by the scammers lately, which made me come back to this issue.

The last post I had made about Recyclix was published 7th of May. What we had learned by then was that apparently there are two separated scammer groups or individuals bashing each other online now. 

The other one has access to control recyclix.com and the other one seems to control company's official Facebook page and an "official blog", which was set up after the collapse of the scam. Both sides blame each other for illegal actions, and they both claim to work hard for the members to get their funds back. - Yeah, right!

I repeat what I have stated before: Neither side should be trusted. Victims of this scam should contact police and file a crime report. 

Recyclix was a ponzi pyramid scam. The payments to the existing members were made from the money collected from new recruits as well as luring existing members to invest more money to the scam. The business was not about recycling plastic but recycling money to the top scammers.



Class action suit?


I'm aware about some members trying to work out a class action suit against Recyclix. However, I believe that proceeding through lawyers isn't the right way at this point. These are scammers we are talking about. They are not sitting still and waiting for the ponzi victims to approach them with lawyers. I bet the actual scammers have abandoned the company as soon as they saw the collapse coming. 

It is also possible that they have appointed some stooges as directors for the existing companies to take the blame.

I strongly doubt that an ultimatum from a law firm will do any good what comes to getting anyone's money back. The more time is spent, the more time is given for the fraudsters to cover their tracks.

But back to the scam soap...



The story continues...



The House of Crisis Team



The Crisis Team started posting messages 17th of April. Here's my blog post about the first letter.

On the contrary to the other team the leader of this crisis team reveals his name. However, I doubt that this " Yaroslav Mikhalsky" is a real person.

The crisis team controls the official Facebook page and the official blog. They have posted five times on their blog page about the proceedings of their "internal investigations". I'm not going through all that bullshit here, because there's no point taking seriously anything the scammers post.

However, let's check out some details about the latest post made 18th of May and titled "Latest News and Developments: Progress of Investigations and Current Events".

"Over the last several weeks we have been drawing up and preparing all necessary papers—claims, complaints, testimonies, and so on—for submission to the bodies of law enforcement and private companies in the United Kingdom and the Czech Republic concerning illegal activities of Dainis Vasiljevs and Igor Pshenychnyi. And we can already see the progress.


For example, we have received the answer from the Action Fraud, the UK National Fraud & Cyber Crime Reporting Centre, about the illegal acts of Dainis Vasiljevs who has stolen money of Recyclix members through BEPAY for embezzlement purposes. The case is currently being assessed, but please be sure to get acquainted with the letter from the Action Fraud over here."
- Yeah, right! I'm just guessing here, but Dainis Vasiljevs and Igor Pshenychnyi might be real persons. The reason behind giving their names might be just to divert the victims of Recyclix.

I don't know what the referred letter to the Action Fraud has to do with this case. There are some details covered with a black box on the letter. 


Removing the black boxes with some computer voodoo tricks reveals a name of a law firm and apparently one of its lawyers, Marina Williamson. Sterling Lawyers seems to be a law firm located in the U.K. It is not clear if the letter has anything to do with Recyclix scam.





The House of Recyclix.com


3rd of May Recyclix.com came back alive and started posting statements on a message window. The user accounts in Recyclix.com are not accessible. The fist message claimed by an anonymous writer that there was a new management in charge. The writer claims that the new management is working for the members to get their funds back.


"Actually, the company is managed by a structure that represents the new owners of the company and has nothing to do with the former management, with the exception of the company's debt obligations to new owners. Currently, a real trial and internal audit of the activities of Recyclix will be carried out. There are hopes that we will be able to restore the lost funds and / or the work of the company. 
We will inform you about important changes on this page. Visit the page daily and do not miss out on information. It is worth noting that the information published on alternative resources (eco-revolution, groups in social networks, etc.) comes from the previous management of the company and does not correspond to reality."


6th of May a new message was posted:
"The investigation gets first results. 
Cooperation has been established with the investigative bodies of the Russian Federation (in particular, the CSG of the RF in St. Petersburg), lawyers from Finland, Poland, the Czech Republic, and a private detective agency CBS. 
The next stage will be gathering information and preparing for a collective lawsuit. We are requesting all depositors to prepare all possible materials confirming the transfer of funds to the accounts of Recyclix. 
Recently started audit of the company showed that the previous management withdrew all the company's assets, bank accounts were also emptied. We are making all the best to return funds and assets."

9th of May a message was published intimidating the old management attached with pictures of the group members.




"An appeal to the former leadership of Recyclix. 
You have made certain contractual obligations to invest in your company and pay the agreed dividends. You stopped doing them. We call upon the former leadership of Recyclix, as promised, to contact us within 24 hours of the publication of this message. We want to appoint a time and place, sit down at the negotiating table and discuss options for returning investments to investors and ensuring the normal operation of the enterprise. All assets must be returned to the company. 
Otherwise, measures will be taken to disclose materials that were obtained as a result of an investigation by an independent detective agency. It is about information about cash flows on the company's account for the last 1.5 years, about beneficiaries, about investing in business, about the involved persons, bank account numbers, personal data, etc."



Conclusion


If there still are any Recyclix victims believing in the words of the scammers, you should ask yourselves the following questions:

- Why would any "new management" be interested in acquiring the remains of a company and its collapsed ponzi pyramid?
- Should you rely on the ponzi company to run their own "internal investigations"?

Just in case the blog of the Crisis Team vanishes, here is all the text from the site copy pasted:


MAY 18, 2017Latest News and Developments: Progress of Investigations and Current Events
Dear participants of Recyclix,
I would like to share with you some new facts about the illegal takeover of the company and crisis management program as well as to take my time to send a brief message to the intruders.
Following the publication of our message to the illegal intruders on May 9—whoever they may be—we haven’t yet received any kind of answer from them and saw neither their names nor contact details published anywhere. We would like to ask these people to stop hiding and get in touch with us, better if it would be done publicly, so that we can arrange a meeting at our office in Riga, Latvia.
And whilst we are waiting for the answer from the intruders, we would like to tell you about new developments in the situation with the illegal takeover and show you some documents that were presented to the law enforcement agencies as the evidence of money embezzlement and unlawful takeover.
Over the last several weeks we have been drawing up and preparing all necessary papers—claims, complaints, testimonies, and so on—for submission to the bodies of law enforcement and private companies in the United Kingdom and the Czech Republic concerning illegal activities of Dainis Vasiljevs and Igor Pshenychnyi. And we can already see the progress.
For example, we have received the answer from the Action Fraud, the UK National Fraud & Cyber Crime Reporting Centre, about the illegal acts of Dainis Vasiljevs who has stolen money of Recyclix members through BEPAY for embezzlement purposes. The case is currently being assessed, but please be sure to get acquainted with the letter from the Action Fraud over here.
A public notary who signed the forged general power of attorney has given his consent to cancel the validity of the document after a visit by Recyclix’s director, Alexander Suranovas. Therefore, we expect to recover access to the original website of the company in the shortest possible term.
Apart from it, we are publishing this payment order confirmation — proving the existence of the transaction in the amount of €840,000 from the BEPAY account in Czech CSOB bank to the account of a certain Aleksin Kauppahuone OY in the Finnish department of Nordea bank—and we are demanding the evildoers to provide answers and explications on account of this image.
Also, we would like to let you know that Alexander Sivaks, one of the founders of Eco Green Line SIA entity we mentioned in our internal investigation, was questioned by a criminal investigator on May 10 in Riga concerning the origin and current whereabouts of the funds that he received for alleged construction of new recycling plants. Since questionings of shareholders of the group of companies that Recyclix was composed of will continue, we expect that the persons who are currently managing Eco Green Line SIA would try to declare the entity bankrupt in order to withdraw from the responsibility.
The case of Igor Pshenychnyi and his partners in crime is currently tackled by the Czech Republic police and later on this week we expect to receive new information from the Czech law enforcement agencies about the progress of the case and the whereabouts of the money stolen via BEPAY. As soon as such information has been provided to us, we will share it with you with pleasure.
Personally we believe that the pressure applied to the group of illegal intruders—who have not even revealed their names yet—by the police will make them disappear as quickly as they appeared.
When it comes to the implementation of the crisis management program, we would like to advise you beforehand that there may be certain delays in the first phase of compensation provision process due to a class action lawsuit currently prepared against the company. In case if the lawsuit will be pursued and won, the court and only the court will decide the process, amount, and deadlines for the compensation provision program via selling off of all assets and property of the company.
Currently a group of highly experienced lawyers in Poland, the Czech Republic, the United Kingdom, and Latvia are working for our team and will continue to do so for over a year in order to help the company through this chaotic period of time. We are willing to take our time and collaborate with judicial bodies and law enforcement agencies in order to ensure seamless implementation of the compensation provision process.
In the coming days and weeks Gabriel, who we think is the originator of a series of offences and attacks against the company, will probably try to abscond and avoid any contact with the law enforcement bodies because he is involved in commitment of several crimes at the same time.
Firstly, he tried to illegally take over BEPAY company, which can be proven using a document at our disposal. Secondly, he laundered funds transferred from Recyclix to fly-by-night companies. Thirdly, he illegally took over Recyclix and its domain and website.
On top of that, he partnered with Sergey Vasiljevs during the takeover of BEPAY and hired members of the criminal community in Prague, a group operated by Karen K*****n and Ramzan “Prazhskij”, so that they would blackmail and intimidate the old management team of Recyclix who refused to fulfil his demands that were against the law.
As a finishing touch to this newsletter, I would like to state that the persons who act on behalf of Gabriel are losing their time. Their attempts of blackmailing and intimidating will fail and Gabriel will receive neither any moral pleasure out of this confusion nor the money that he is after.
We would like to strongly recommend you not to provide your personal data to anyone who may be illegally taking actions on behalf of Recyclix or BEPAY if not explicitly stated otherwise on ecorevolution.com or the official Facebook page of the company. Also, please be sure not to take seriously any information about Recyclix unless it’s published on the official mirror website, ecorevolution.com, or in the official Facebook group of the company.
Remember that you can use ecorevolution.com website in order to login to your Recyclix account if you would like to access any information located in your member’s area, making sure that your earnings are safe.
Until the official Recyclix website page is recovered from the team of illegal intruders, updates about the progress of the crisis management plan, company fiscal and property audit, governmental investigation, and legal cases will be published by our team members via the official mirror of the Recyclix website and its Facebook page in English.
Yours sincerely,
Recyclix Crisis Management Team
Yaroslav MikhalskyPOSTED ONMAY 9, 2017Official Message to the Illegal Intruders from the Recyclix Crisis Management Team

In this message I would like to address the group of illegal intruders, whoever they may be, and tell them my thoughts and opinion about this unlawful action in a public way.
Private detectives hired by our team already tried to locate and contact Igor Pshenychnyi, who is officially wanted by the police in Czech Republic for a car theft, but so far it was not possible to detect this individual because he is apparently hiding.
My message to the group of illegal intruders will be brief. Firstly, I am asking you to publicly present yourselves to the participants of Recyclix and our team and explain, in detail and publicly as well as with provision of evidence and proofs, on what grounds you should be considered the true new management team of Recyclix.
Secondly, when it comes to the negotiations on the process of returning the funds, we are willing and eager to do this, but only in a legal and public manner through our lawyers.
Therefore, I am asking you to publish the contacts of your team of lawyers, as well as any other contacts that we may use to get in touch with you, on recyclix.com website.
And I would to repeat it once more. From now on all communications between our team and you, whoever you may be, shall be carried out in a public way.


Sincerely,
Recyclix Crisis Management Team
Yaroslav MikhalskyPOSTED ONMAY 6, 2017Announcement of the Internal Investigation and News on the Progress of the Crisis Management Program

Dear investors of Recyclix,
I am Yaroslav Mikhalsky, the chairman of the new management team of Recyclix, and in this crucially important message I would like to share with you the completed internal investigation into the the activities of Recyclix and the reasons behind the illegal takeover of the company as well as give you the latest details on commencement of the process of provision of the compensations.
However, before getting down to explaining in which way and when the compensations will be paid, I would like to cover the issue of the illegal takeover of Recyclix by Igor Pshenychnyi and the respective internal investigation into that matter that our team has prepared.
ON THE ILLEGAL TAKEOVER AND INTERNAL INVESTIGATION
As you have probably noticed, currently recyclix.com website cannot be accessed. This is associated with the illegal actions of the team of evildoers who—like we told you in the previous newsletter—have managed to forge the official documents and unlawfully get hold of the company.
Fortunately, we have succeeded to establish the identities of these individuals as well as reconstruct negligent actions of the old management team of the company and the events that led to this chaotic and unpleasant situation.
All important facts about the true story behind what was happening at Recyclix when it was managed by the old executive team are presented in the internal investigation that I would like to share with you.
PLEASE READ THE OFFICIAL INVESTIGATION OVER HERE
Remember that it’s very important to take your time to get familiar with this document in order to understand the current situation of the illegal takeover as well as to get ourselves prepared for a smooth and seamless process of the compensation provision.
Just like we promised in the latest update in the official Facebook page of the company, as a further evidence of the illegal takeover of the company we provide you with the originals of the forged unlimited power of attorney — featuring the names of lawyers who performed this illegal action—used to get hold of the company by Igor Pshenychnyi on behalf of the group of intruders uncovered in our investigation and the text of the legal claim against Igor Pshenychnyi on behalf of the director of Recyclix, Aleksandr Suranovas.
As soon as the claim has been successfully reviewed by the court, Aleksandr Suranovas will be reestablished as the director of Recyclix in order to pass the ownership of the company over to our team for completion of the crisis management program and payment of the compensations.
Also, we reckon that the group of people who illegally took over Recyclix are currently reading this newsletter. This is why we are asking them to make a public statement, disclose their identities—although this has already been allegedly done in our internal investigation—and communicate what they want to our team and the investors of Recyclix so that we would be able to resolve this situation in a lawful way and give the investors their funds back.
ON PROVISION OF THE COMPENSATIONS
As of now, the recycling process on all accounts has been stopped and in the following days you will see that all your waste, if available, will be sold. All your account earnings will be automatically combined into one withdrawal order—whilst if you have already had requested a payout earlier and it has not been made yet, it will be also added into the final withdrawal order—the ID of which will be later on sent over to the the crisis management center in order to put you in the queue for subsequent provision of the compensation.
We believe that, just like in case with the illegal takeover of the company on behalf of Ruslan Puksto by the same individuals, this time the legal process of getting the company back will not take much time and will not influence the dates of commencement of the first phase of the compensation provision announced earlier, which is June 2017.
In the previous newsletter we mentioned that a part of the funds meant for provision of the compensations is currently kept in Latvian Citadele bank. As you have found out from the internal investigation published above, these funds are now undergoing an official investigation by the Latvian police and will be released within 6 months. Once these funds have been released, they will be transferred to the crisis management center and will be used for the second phase of the compensation provision process.
We would like to strongly recommend you not to provide your personal data to anyone who may be illegally taking actions on behalf of Recyclix or BEPAY if not explicitly stated otherwise on ecorevolution.com or the official Facebook page of the company. Also, please be sure not to take seriously any information about Recyclix unless it’s published on the official mirror website, ecorevolution.com, or in the official Facebook group of the company.
Remember that you can use ecorevolution.com website in order to login to your Recyclix account if you would like to access any information located in your member’s area, making sure that your earnings are safe.
Until the official Recyclix website page is recovered from the team of illegal intruders, updates about the progress of the crisis management plan, company fiscal and property audit, governmental investigation, and legal cases will be published by our team members via the official mirror of the Recyclix website and its Facebook page in English.
Yours sincerely,
Recyclix Crisis Management Team
Yaroslav MikhalskyPOSTED ONMAY 4, 2017IMPORTANT RECYCLIX UPDATE

As you may have noticed, currently recyclix.com website is not available. This has to do with the illegal takeover of Recyclix by Igor Pshenychnyi, which we told you about in the previous newsletter we published on the official mirror of the company’s website, ecorevolution.com.
We would like to let you know that this situation will be dealt with in the near time in a lawful manner as we have already brought a legal action against the group of these illegal intruders.
The internal investigation by our team that we mentioned earlier has already been completed and we managed to gather and establish the important facts about the illegal takeover, individuals behind it, and what exactly caused it.
The internal investigation and several positive news about the progress of the crisis management program-as well as the originals of official documents such as the legal action against the evildoers, forged papers used to carry out the illegal takeover, and more—will be published in our newsletter on ecorevolution.com later on this week.
In the meantime, we strongly recommend you not to take seriously any information about Recyclix unless it’s published on the official mirror website, ecorevolution.com, or in this Facebook group.
Remember that you can use ecorevolution.com website in order to login to your Recyclix account if you would like to access any information located in your member’s area, making sure that your earnings are safe.POSTED ONAPRIL 17, 2017MEET THE NEW RECYCLIX MANAGEMENT TEAM: MESSAGE TO PARTICIPANTS

Dear investors of Recyclix,
My name is Yaroslav Mikhalsky and I will serve as the chairman of the new management team of Recyclix and together with my colleagues we will be handling the crisis management program and ensuring that this procedure is performed in an inclusive and efficient way.
As you might have seen it in the latest update post on Facebook, we already announced the approximate dates when provision of compensations to the Recyclix participants will commence. For those users who haven’t had an opportunity to get familiar with the post, I would like to repeat that it’s estimated that the process of provision of compensations would start in June, whilst from now on all news on the progress of the crisis management plan and current events will be published by our team members on Recyclix’s website and its official Facebook page in English.ON CRISIS MANAGEMENT PROGRAM
My colleagues and I believe that transparency and clarity are crucial when it comes to achieving any goal in a big company—especially if it has to do with management of funds—and this is why now I would like to tell you more about the crisis management plan that Recyclix will launch in the nearest future.
All compensations will be paid through a special crisis management center that will be opened in the short term. Funds for provision of compensations were already partially allocated and as soon as the crisis management center have been opened and our team has finished the thorough fiscal and property audit of the company, the process of the compensation provision will be started.
For purposes of enhanced transparency an oversight committee consisting of members of Recyclix themselves will be formed. We will be informing you the progress of the crisis management program in the next newsletters as well as on the official Facebook page of Recyclix.ON CURRENT EVENTS
There’s another important thing that I would like to let you know about in this newsletter as our team has found a couple of strange things about Recyclix following the commencement of the company’s fiscal and property audit.
You may have heard about the issue with Ruslan Puksto who tried to illegally take over the company by forging the official documents back in January 2017. Unfortunately, it turns out that a similar situation took place once again on March 23 due to unknown reasons, most probably by the way of forging the official documents too, and currently Recyclix is being illegally controlled by a certain Igor Pshenychnyi. You can review the official legal information about the company over here.
For enhanced safety the funds allocated for provision of compensations were stored in Latvian Citadele bank as well as on the accounts of BEPAY company. However, last week a large payment has been made to a Finnish branch of Nordea bank without consent of BEPAY management board.
Nordea bank has been already contacted about it, but we still haven’t received either definite answers or solutions to this problem. This is why we would like to kindly ask all of you who made payments to Recyclix via BEPAY company to get in touch with Nordea bank using this complaint letter template COMPLAINT LETTER TEMPLATE at tradefinance.helsinki@nordea.com and demand for a financial fraud investigation to be carried out.
Aleksin Kauppahuone OYIBAN: FI8317453000088965BANK: NORDEA BANK FINLAND PLCSWIFT: NDEAFIHHTEL: Calls from abroad ‎+358 200 70 000 (international call charge)
And though upon arrival at Recyclix our team was not expecting such difficulties to arise, all necessary documents for the commencement of an official investigation have been already handed over to the law enforcement authorities. A very similar case—an illegal takeover of the company that happened back in January—was solved in a rapid way thanks to the hard work of investigating officers.
We would like to let you know that these investigations should not affect the estimated dates of the commencement of the compensation provision plan announced earlier, especially if as many of you as possible will contact Nordea bank and ask them to launch an investigation into the unlawful financial transaction from BEPAY company to their bank.
Apart from this, the initial phase of the company’s fiscal and property audit has shown that the previous management board of Recyclix tried to cover embezzlement incidents by some of its members. Our team has already launched a special internal investigation into such facts of misappropriation of funds by the old management team.
At this point I would like to bring this newsletter to a conclusion and let you know that it will be a pleasure to work with all you in the following months to ensure a seamless process of provision of the corresponding compensations.
Please make sure to contribute to the efficiency of the compensation provision procedure by contacting Nordea bank using the complaint form above in case you made payments to Recyclix via BEPAY.
Remember that updates about the progress of the crisis management plan as well as the governmental and internal investigations will be published by our team members via the official Recyclix website and its Facebook page in English.
Yours sincerely,Recyclix Crisis Management TeamYaroslav Mikhalsky

Thursday, 18 May 2017

Global InterGold's global event in Helsinki Finland 16-17 September 2017

While searching information about this scam I happened to notice that there's going to be a global event in Helsinki Finland during 16-17 September 2017. The venue of the revival meeting is Scandic Marina Congress Center.

According to this Finnish site promoting the event, there are going to be top leaders around the world. However I couldn't find any news about the event from Global InterGold's web site nor from the company's Facebook page. So it might not be as global as the Finnish web site is implying. By the looks of it I would suspect that the event is heavily marketed mainly to Finnish scam-victims-to-be.


More fresh news about Global InterGold:
Global InterGold lost yet another Philippine bank account

Friday, 12 May 2017

OneCoin's event in Macau 7 May 2017

OneCoin's event in Macau happened after all despite GerlachReport's article about the event being canceled. I was rather suspicious about the news, since police forces don't usually leak their plans before making busts.

I watched a 1 hour and 40 minutes long video of the event. Thank God you can speed up YouTube videos with sound enabled. 

I knew already that nothing much interesting happened there, even the rumored publishing of OneCoin's White Paper didn't happen during the event. Nevertheless, let's go through this: 


2:00

A man named Jackcha is on the stage at the beginning of the video:
"If you want something really, really, really, really, REAAAL-LY - if you want it, the entire Universe will help you to achieve it."

- I'm not kidding! That's really, really, really, really, REAAAL-LY what he said.



Sebastian Greenwood


8:00

Sebastian Greenwood on the stage, making the first one of his usual twice-in-a-year appearances.

Sebastian Greenwood: "Today we are three million members."

- Yeah, right.

It's impossible to know what's the truth about the amount of members OneCoin has scammed to join the ponzi. However, in the chart below Google Trends reveals the overall popularity between search terms "onecoin" and "bitcoin":


The chart starts from 1 October 2014 ending to today. As you can see, compared to BitCoin OneCoin is hardly visible on the chart. Click here to enlarge.

OneCoin claims to be by far the biggest cryptocurrency in the world. The chart on the other hand shows that in the real world there's only a small minority of people that have shown interest towards OneCoin. Notice that the chart shows the general popularity of a search term, so it includes all searches done - no matter whether a search has been done by hating OneCoin or loving it in a cult like fashion.


Here's the same chart without BitCoin. The highest peaks on the chart match the biggest events in OneCoin's history.

About DealShaker

26:00

Greenwood: "Some merchants are bad merchants. Some merchants are very very good merchants. Now DealShaker is a platform. It will unite the world with different kind of shops, merchants, all over the world. - Very difficult to control some of the bad fraudulent merchants.

However, don't worry... China. Don't worry China. There's a very strong team, a very strong team behind China, behind DealShaker, and we do not accept any fraudulent merchants on DealShaker."

- Greenwood is referring to a bunch of car deals from China that turned out to be a scam inside this ponzi scam.

In addition there has been a Polish merchant group advertising car deals with pictures taken from a legitimate car dealership located in Poland. Those ads disappeared very soon after the real car dealership selling the cars was contacted and questioned about the deals.

But don't worry China, there's always a chance that at least all the ads selling bed spreads might be valid.


About education

16:45

Greenwood: "You need to know how to make the business. You need to understand why cryptocurrency is the future."

- OneCoin's education packages don't include much educational material about cryptocurrencies so I'm not sure what good does the education provided by OneCoin do regarding the understanding of cryptocurrency.

Therefore the slide behind Mr Greenwood with the slogan "Education is at the heart of our company" doesn't make much sense, let alone OneCoin scam having a heart.


The IPO

20:00

Greenwood: "Now the IPO means what? In this company it means what? It does not mean that the company needs to go on a stock exchange to get money. That is not the purpose of the IPO.

Traditional companies go on the stock market to get capital. This company does not need capital."

- Greenwood continues with a mindless blabber, which doesn't make any sense to answer the question he asked from himself.

Anyway, OneCoin is selling so called future certificates (OFC's) during the IPO (Initial Public Offering). The company sells OFC's in exchange to onecoins. As onecoins are worthless the company doesn't gain capital anyway. But it only makes sense, because also OFC's will be absolutely worthless.

The IPO is an old ponzi endgame trick OneCoin's top scammers are very familiar with.

37:00

Greenwood: "When the IPO happens next year, there will be no more tokens in the packages. - You understand what I'm saying to you right now? Do you understand, we have one more year?

...

"So everybody who wants to create coins, do it this year! Do not miss this opportunity, cause you would be insane. Nobody wants to be insane. There are hospitals for the people who are insane. Don't check into that hospital. Check into OneLife this year."

Then Greenwood moves on to preach about the biggest package available, the Power Pack. 

"It's the biggest package, which creates the most coins in the shortest period of time there is for mining."

- Oops, you didn't mention education once while talking about the Power Pack.

Power Pack seems to cost almost 50k euros. But I must admit that there's a lot of education included. You even get the same education multiple times since the Power Pack combines the Tycoon+, Premium AND Infinity Packages!

Greenwood lets us know that there are only 3500 Power Packs left for the members. - So you must act quickly to get educated!



Ruja Ignatova



51:00

Ruja Ignatova: "This network has made about 1.000 millionaires... This is incredible, 1.000 millionaires based on commissions - I'm not speaking about the coins."

- Let's do a little math here:

1.000 millionaires x 1.000.000 euros = 1 billion euros.

The commission OneCoin pays in fiat currency is 6% of the sales. So the 1 billion euros is only 6% of total sales. Hence we can roughly estimate that the total sales generated by those millionaires and their downlines must be at least 16,7 billion euros.

To achieve total sales of 16,7 billion euros there would have to be about 3.300.000 members, each buying at least a Tycoon package costing about 5.000 euros. - Yeah, Ruja, you are right - that is incredible. I would even go as far as calling this impossible.

And bear in mind that I didn't include the sales made by weaker legs, let alone all the sales done by those who have not achieved millionaire status.

57:00

Ignatova: "There are many cryptocurrency exchanges. You can buy, you can sell Bitcoin. But no cryptocurrency is properly listed on a stock exchange. And this is what we want to do."

- The question that should be asked is: Why would there be any real cryptocurrencies on a stock exchange? Isn't the OneCoin Ltd., the company, going to be listed and not the currency?

"So the company will hold a lot of coins. (Ignatova is referring to IPO and the members spending their coins in exchange the OFC's) 

Sebastian told you already: After the IPO no more tokens in the packages.

So how can people buy onecoin, where will they buy it from? 

Because the coin will get very popular. The first coin on the stock exchange. So they will buy from you in the company. And at what price they will buy it?"

- Pardon my Finnish, but - mitä helvettiä / what the hell - is she blabbering about? Oh, now I get it, she must be talking about the laughing stock market, because there isn't going to be fools to buy those coins.

Ignatova continues:
"They will have to buy at market price."

- It's exactly the opposite - the coin holders would have to sell at the market price. And everyone outside the religious OneCoin cult knows what this means to the artificial value onecoin has.

"Now, many of you ask me for advise. - Should I keep my coins, or should I convert them to OFC's?

And again I say it depends. You know, cryptocurrency, if you want to spend it and to use it, keep your coins. But I know that a lot of you believe in the value growth of the coin, so they don't want only to use it, but they want to say "I was one of the first who believed in OneCoin, so I want to profit from this." And if you feel like this, I recommend to you to change as many coins as you can in OFC's."

- So she urges the members to get rid of their coins.

"And I tell you why. There're three reasons for this:

Reason number one is that it is always easier to sell shares than cryptocurrency. You don't have sell and buy limits on a stock exchange."

- But just a while ago you said that the coins are going to be so popular that people just have to buy them at the market price. And now you are implying that the company is still going to limit the selling of coins despite going public. This is just hilarious. Do you also mean that the company is still going to dictate the value of the coins?

"The second reason why I believe that the OFC's are the better option, the company we built up for the IPO will not only have the coins that you give now for the shares. This company owns also the DealShaker."

- Then she brings up Groupon as an example - again, like in many occasions before. Like OneCoin's DealShitter would be the next Groupon or even better.

Trying to add some attraction to the IPO scheme Ignatova throws DealShaker and Xcoinx along to be merged to the IPO.

"So you make money from every bought and sold coin."

...

"Our coin will be extremely strong in the public eye when we are the first cryptocurrency going public."

- Okay? 

I don't think I spotted the third reason you were supposed to elaborate... Maybe it's this following announcement...



The new CEO


1:06:30

There's now a new "OneCoin CEO" in the company named Pierre Arens. 

After introducing the new CEO Ignatova still urges the members to exchange their coins into OFC's. - Wow, the company now really wants those coins. Before there was any plans revealed about the IPO Ignatova had stated that the company itself would not buy any coins.


The new OneCoin CEO, Pierre "Pitt" Arens.

Pierre Arens's part is so boring that I don't bother quoting him. He spends about 5 minutes on the stage ruining his name and making sure that he would be recognized from thereafter at least from being part of the ponzi management.



Kari Wahlroos


1:12:20

- There was absolutely nothing worth mentioning.


Source:
The video on YouTube.

Wednesday, 10 May 2017

OneCoin - The White Paper


The moment onecoiners were eagerly anticipating was finally yesterday - the release of the White Paper for OneCoin cryptocurrency and its blockchain. It was rumored to happen already during the Sunday's event in Macau, but for some reason it was postponed to Monday.

I checked a video clip recorded of the historical moment. Don't worry it's only about five minutes long and everything is very simple to understand. Here's the whole clip if you wish to see it first.

OneCoin's new CEO Pierre Arens and Kari Wahlroos were giving the presentation about the White Paper. 

Arens: "The White Paper is very technical and ten pages long.

The White Paper has been... erm... the audit has been done by a company from Singapore, London and Switzerland. And the company is called DXMarkets.

Even given our blockchain is - top-notch..." 

Wahlroos: "It's top-notch, yes. Uniquely designed for OneCoin Ltd."

Arens: "The co-founder and the CEO of the company conducted the audit himself, and wrote the White Paper himself."

- At this point it's obvious that OneCoin doesn't have adequate technical knowledge to prepare a white paper with their own resources.

The presentation ends with this slide:


So OneCoin has now purchased a "licensed blockchain software" from DXMarkets.

Kari Wahlroos swiftly wraps it up by saying: "So there you go ladies and gentlemen! Here's the statement! - We have the blockchain."

But where is the White Paper? I haven't seen it yet.


Unraveling the truth about OneCoin's White Paper


Well, after the company behind the White Paper was revealed, it didn't take long after things started to clear out.

Turns out OneCoin finally managed to find a person and a company willing to provide them a real blockchain. However it should be now very clear even for a half witted that OneCoin has not had any blockchain before. You can read a Twitter interview of the person behind OneCoin's White Paper below:


- So there you go ladies and gentlemen! Here are the statements! There has been no blockchain, just a chain of fools.



Update 15 May

Statement by Marcelo Garcia Casil


After the awkward truth regarding the White Paper was revealed, OneCoin released a statement 10th of May trying to fix the damage done.

The CEO of DXMarkets Marcelo Garcia Casil has signed a statement saying:

"In recent days there has been publicity on the Internet suggesting that I have questioned the existing technological capabilities supporting the OneCoin cryptocurrency. Any such suggestion is false and misrepresents my position. The work my company was commissioned to undertake was designed to provide the company with an analysis and a proposal aiming towards a next generation solution and enhancement for the technology currently underpinning OneCoin’s operations. I refute any allegations that I had not seen the existing system, nor have I questioned the competence of OneCoin’s present arrangements to satisfy the current needs of the cryptocurrency."

- Well, the statement is misleading. I don't think no-one has claimed that he had "questioned the existing technological capabilities supporting the OneCoin cryptocurrency".

When Marcelo Garcia Casil was asked on Twitter to confirm whether OneCoin had a blockchain or not, he replied "I don't know what they had or have". He could not have been clearer about being completely unaware about OneCoin having anything even related to a blockchain while writing the White Paper.

Also he revealed that DXMarkets has now provided OneCoin a blockchain in addition to the White Paper that is based solely on the blockchain by DXMarkets. As he puts it: "I was asked to provide a software and to write a paper about it."

Hence it became very obvious that OneCoin hasn't had a blockchain - like very much suspected since the beginning of the scheme.


Marcelo Garcia Casil's statement.

Saturday, 6 May 2017

Chris Principe suing Tim Curry for defamation

Tim Curry (aka Tayshun) posted the following news today on BehindMLM:



Chris Principe, the publisher of Financial IT magazine, has sued Curry for defamation. Mr Principe, who is mostly known from his support to OneCoin ponzi scheme, is now claiming that Curry has damaged his reputation and caused "loss of business and loss of income in excess of $75,000".


Chris Principe, publisher of Financial IT and FinFuture magazines


Excuse me, Mr Principe - you have only yourself to blame for ruining your reputation. You were the one sticking your head into the butthole of a ponzi scheme. And there must be a reason why your head still is there.



The Complaint


Here's the whole complaint in case interested. Let's have a look at some parts of it though:
FACTUAL BASES FOR COMPLAINT  
24. In February 2016, Financial IT featured a photograph of Ruja Ignatova on its cover and an article about OneCoin, a cryptocurrency promoted by Ms. Ignatova and her company, Onecoin Ltd. and which is a competitor to BitCoin. 
- This issue was an exact copy of the previous issue replacing some ads with an article about OneCoin. This is also the one and only issue Financial IT is selling on its web page in contrast to any other issue published by the magazine that are downloadable free of charge.

Mr Principe making sure that his dearest issue of Financial IT would be visible on TV.


25. Neither Ms. Ignatova nor OneCoin Ltd. paid Plaintiff or Financial IT for that cover and article. 
- This is rather strange, because Financial IT seems to operate heavily depending on advertising material, which includes articles published in it. 
26. Plaintiff also gave a speech in June 2016 about the uses and benefits of cryptocurrencies in global trade at an event hosted by OneCoin Ltd. in London, England. 
- So Mr Principe was participating an event held by a ponzi scheme. Please, you don't have to rub it on my eyes. 
27. Plaintiff was not paid for that speech by Ms. Ignatova or OneCoin Ltd. 
- Oh, Mr Principe must have a golden heart then. - I mean actual gold. Was it a gift from OneCoin? 
28. Neither Ms. Ignatova nor OneCoin Ltd. has ever paid Plaintiff or Financial IT for any publication, speech or support. 
- Nevertheless, like I already pointed out, Financial IT is gaining financially from selling the issue with Ruja on its cover. Mr Principe also shows strange affection towards OneCoin despite the company has been labeled as a ponzi/pyramid scheme by authorities from several countries and media sources.
29. Plaintiff is not an employee of OneCoin Ltd. Nor is Plaintiff a paid sponsor or representative of OneCoin Ltd. 
- Well, that's ought to be written to somewhere or tattooed on his forehead, because it has been very, very, very confusing.
30. Defendant consistently refers to OneCoin as a Ponzi scheme and a criminal enterprise in his Tweets and posts on the Internet. 
- Yes, as it is a ponzi scheme. So what is the problem? 
31. In many of Defendant’s Tweets and posts, Defendant has falsely claimed, and without any evidence, that Plaintiff has engaged in criminal activity by being paid by, and working to support, OneCoin Ltd.
-  Well, Mr Principe does support OneCoin Ltd, who is a blatant ponzi pyrami scheme. If he does not get paid from doing so, the reasons for his actions and behavior are beyond me.



The complaint also states:


16. Plaintiff has enjoyed a good reputation both generally and in his occupation.  
- That must have been prior to endorsing a ponzi scheme. 
17. Plaintiff’s clients have highly recommended him to others and have referred to him as, among other things, “a real expert in trade finance and supply chain,” “one of the most visionary Trade Finance and Financial Supply Chain executives in the space,” and “a diligent and highly experienced worker.” 
- As the publisher of Financial IT and by publicly supporting OneCoin Mr Principe is to be held responsible for having an influence on the decision making of ponzi victims worldwide and thus causing financial losses to masses of people.



Mr Principe publishing stolen content


I couldn't find Chris Principe mentioned on Financial IT's current media kit. In the earlier version Mr Principe still was referred as the publisher of the magazine. Yet the complaint accusing Curry for defamation states that he still is the publisher of Financial IT and an owner of the magazine. Also his LinkedIn profile shows a current position as the publisher.

Anyways, Mr Principe and some onecoiners have been touting that he has started to publish a new magazine called FinFuture. According to his LinkedIn profile he has been the president of FinFuture since June 2016.

The website of the new magazine is still a mess despite being online quite some time already. However there's a good reason for the messy look. That's because most of the content - if not all - has been stolen from other websites and blogs. The stolen content seems to include also pictures purchased or copyrighted by the original publishers.


The content of the Fin-Future website is largely stolen from various sources.

Using the search option of FinFuture's website causes a hilarious result. Using "onecoin" as a search word shows results of stolen content about news related to police investigation of OneCoin and the scheme getting banned in Germany. At the same time there is an advertising picture of FinFuture magazine showing Ruja Ignatova on the cover:




I renovated the logo a bit to describe the magazine more appropriately:




Update 13 October 2016


The website of Fin-Future magazine has been now removed - apparently for good, because the account has been suspended:



However, it looks like Chris Principe didn't have long term plans for the magazine anyway. The registration of the domain was set to expire already in August 2017: