The CompCoin fraud trial of Alan Friedland began on January 31st. Friedland agreed to the charges against him after three days of the CFTC presenting its evidence, which included the testimony of five witnesses.
Final approval of Friedland’s CFTC settlement is still pending. He is already burying Friedland’s agreement, despite this. The launch of BuilderDefi and the CFTC settlement of Friedland at the same time has led to uncomfortable questions from investors. BuilderDefi investor Friedland explained that BLDR’s coin price will fluctuate and that losses are possible; Please understand that my intent is not to offend you in any way.
Since I was only recently granted access to this room, I’m not going to try to be… As a result of this statement, which was made twenty, fifteen minutes after he had said that he had just dealt with the CFTC or some court case, and then he’s like, “Hey man, don’t risk anything that you may lose, this may fluctuate.”. Oh but we’re totally, you know, confident that this is going to work,” they continued. As an investor, that absolutely terrifies me to death.
Participants in the webinar questioned Friedland’s CFTC settlement while he was talking about BuilderDefi. “One of my 2014 blockchain projects, a very promising one, was the subject of litigation against my firm and then against me, and I recently settled the case. I run my own business. I’ve worked in the financial sector for a long time. As a cryptocurrency advocate, I was subjected to a slew of unfair regulations. We made a formal complaint and appeared in front of the authorities numerous times. Unable to carry on our business because of their actions, I agreed to settle for a monetary settlement. It’s worth noting that the CFTC took action against Friedland for soliciting investments totaling $1.6 million in CompCoin.”
Friedland’s charges were not based on any new legislation enacted by the CFTC. Since 1936, the Commodities Exchange Act has existed. CompCoin investors were told that ART, an artificial intelligence trading platform, would generate revenue. When Friedland began promoting CompCoin as an investment opportunity, he did not disclose that ART had only been tested in a theoretical environment. In addition to the $1.6 million that Friedland stole from investors, the CFTC requested that Friedland pay a civil penalty and interest on the stolen funds. As an entrepreneur, Friedland had nothing to do with the case.
One of Friedland’s business partners, Duane Noble, was promoting TradeGenie when NRGY launched. [21:20] An algorithm that connects to TD Ameritrade accounts and automatically trades stocks is our first app. [22:14] TradeGenie will be the name of the product. TradeGenie is thought to be ART’s new name. However, there was no such thing as TradeGenie. NRGY and/or BuilderDefi may still have a role in it, but the details are still under wraps.
A little more than two hours into the webinar, Friedland returned to his pending CFTC settlement; “It was completely unjust. It’s a slap in the face. Regulations are referred to as such because they are the job of the regulators. Regulators and innovators like me are fighting back against their efforts to stifle progress. Then again, I’m not the only one who’s been targeted… simply because they are attempting to alter the current state of affairs At the same time, it’s finished. That was taken care of by me. It was enough of a waste of my time to be at odds with the federal government. They’ve hired a slew of knowledgeable legal counsel. With their staff, they had nine attorneys. They’ve mastered the art of stomping. They’ve mastered the art of intimidation. Okay? In the end, I think I earned their respect by fighting with them. They asked, “Hey, do you want to settle?” in the middle of the trial. And I was like, y’know, it’s just the right thing to do..” It was purely a matter of business acumen. Fighting with the government is a waste of time and effort that could be better spent creating something new. That’s a waste of time and money. Not because of money. Many details need to be unearthed. To begin, Friedland is correct in stating that investor losses are not a “revolutionary change.” Being a business maverick by soliciting $1.6 million from your investors under false pretenses of theoretically generated profits isn’t something you should brag about.”
The Commodity Exchange Act considers you a scammer. Friedland wasn’t being “attacked” by the CFTC when it filed a lawsuit against him; rather, it was holding him responsible for breaking the law. Fighting the government isn’t an option. Over two years ago, the CFTC filed suit against Friedland. Every step of the way, Friedland fought the government. Friedland then pulled the plug after preparing for trial and spending the money on attorneys who prepared a defense for the jury. When Friedland was quoted before the trial, he claimed that US regulators “botched this up extremely badly.”
A jury was given three days to deliberate after that, and the CFTC was given the opportunity to present its case. He had already engaged in conflict with the government. Sitting back and watching his attorneys present his case was all that was required of him during the trial. Friedland, on the other hand, jumped at the first opportunity to settle after hearing the evidence against him for three days. If you’d been fighting a case for two years, would you give up if you felt confident that you’d win at trial?
Friedland’s CFTC settlement is a far cry from the rosy picture he paints for potential BuilderDefi investors in his marketing materials. Because some people can’t accept the simple fact that they broke the law and take responsibility, Friedland has decided to make a spectacle out of it. This leaves only one question unanswered: why did Friedland agree to a settlement on the eve of presenting his case to the jury? The rest of the information was gleaned from openly available court documents. That TradeGenie was dropped (or temporarily shelved) to confuse the CFTC is my personal suspicion.
Art to CompCoin is what TradeGenie is to NRGY/BuilderDefi. Friedland remains unregistered with the CFTC, which means that the regulator could file an identical lawsuit over the same conduct. Because BuilderDefi is offering a passive ROI opportunity of 5 percent per week, the SEC has jurisdiction over it. Based on statements from his partners, BuilderDefi and Friedland are not SEC-registered and do not intend to be. Instead, they plan to use a tactic known as “synthetic compliance.” I just wanted to make sure you were aware of this before our meeting with the attorney, because before I would say a lot of things, right? Lots of things, before we started this project, and we met with the attorney and the legal team there, who said, “Hey, you better be careful what you say. ‘Investment’ is a no-no.’ We can’t say it because the SEC has purchased and owns that word, so we can’t say it. But you can say, “You can buy some coins”. It’s impossible to guarantee a profit. For this reason, even though Alan and his team have developed a program that has the potential to earn greater than 5% weekly, guess what? Right? We can’t just say, “Target five percent.” We have to say that.
As a result, many things must be altered, and the same language must be used throughout the community. It’s just a precautionary measure to ensure that the Securities and Exchange Commission (SEC) never enters our yard. If you’re referring to a “passive” investment opportunity, you’ll have to pay additional fees, but the act of offering unregistered securities itself is illegal.
BuilderDefi’s passive returns of 5% a week No matter how it’s marketed or phrased, a multi-level marketing opportunity is a security offering. By comparing Friedland to Jesus Christ on the cross, Friedland’s business partner Santos Kidd ended the webinar “I have the power to eliminate anyone or anything that is causing you problems. People in this area are familiar to me (indecipherable).”
On February 10th, BuilderDefi will begin soliciting investment from the general public.
Meta Utopia- Crook Review
A few days ago, we put out its review of Meta Utopia.
“Metaverse” MLM crypto Ponzi scheme that isn’t very interesting on its own.
As part of our research, we found a link between Nicholas Coppola and the man who started the Ponzi scheme.
Or rather, he did it through an Instagram story that has since been deleted:
Coppola wasn’t happy about being linked to Meta Utopia in public, it turns out. He only wants to hide the fact that he is a crypto-bro Ponzi scammer.
Today, Nicholas Coppola joins the DMCA Wall of Shame.
Over the past 24 hours, “Dincer Odabasi” from “Copyright Support” has sent us two emails. Nicholas Coppola’s emails were sent on his behalf.
Copyright Support says on its poorly made website that it will
Negative or damaging news that can be found on the Internet and in Google search results should be taken down for good.
In his first email, Odabasi tries to pull the old “right to be forgotten” scam.
Because of the right to be forgotten and because of the privacy clause, we want the content to be blocked.
We tried to get in touch with the website that posted the content, but we didn’t hear back. So, we give you the content and ask you to turn it off.
As everyone knows, according to the first paragraph of Article 9 of Law No. 5651 on the Regulation of Broadcasts Made on the Internet and Combating Crimes Committed Through These Broadcasts, if they can’t get to it, they can send a warning to the hosting provider and ask that the content be taken down.
Again, the second paragraph of the same article says that “the content and/or hosting provider must respond to requests from people who say their personal rights have been violated by the content of an online broadcast within twenty-four hours at the latest.”
We want the case that was filed on our behalf to be taken care of. Because of the European right to be forgotten and the privacy of private life, we have the right to limit access to content.
Please note that we’re asking you to take down the content because we’ve tried to reach the owner but haven’t heard back. That’s why we want and need you to take it down.”
This is a form letter that con artists send out. I know that because Odabasi put the same notice to Amazon from another email about a different website and client (ruhroh GDPR fail) into the body of the email he sent me.
In any case, the “Right to be Forgotten” law in Europe is used by scammers to hide their pasts, no matter how good the lawmakers’ intentions may have been at first.
The Right to be Forgotten is not part of EU law, so we don’t recognise it. Also, it takes four days from the date of publication until a right-to-be-forgotten takedown notice is sent.
Odabasi went on to say that Turkish law had something to do with the US, which was not true.
Due to the Right to be Forgotten and the USA Legal Content Removal Request Pursuant to Law No. 5651, we can’t take down the content we told you about because it’s in the Constitution.
“The Right to be Forgotten and the USA Legal Content Removal Request” is not a thing, even if that sentence makes no sense. It’s not true at all.
Turkey passed Law No. 5651 in the year 2020. It only happens in Turkey and has nothing to do with the United States.
Odabasi sent another email a few hours after the first one. This time, he threatened to take action because of copyright issues.
“We want you to remove any content that reveals personal information about our representative.
If you don’t get rid of the news content, we will file a copyright claim with your hosting company, Google.
I’d like you to put the story away, please.
TEAM OF SUPPORT FOR COPYRIGHT”
As our Policy says, we often use “third-party logos and images,” which is allowed by US copyright law through “fair use.”
We don’t need permission from the people who own the rights to the images we use in our MLM news and reviews. Period.
The DMCA takedown process is being abused when fair use isn’t taken into account and a fake DMCA is filed. Not only will it not work, but the person who submitted it is lying.
Even though it’s clear that Copyright Support doesn’t care about the law, it’s still important to point out their hypocrisy.
Scam businesses like Copyright Support depend on the fact that the publisher or service provider they are after doesn’t know what they are doing.
Nicholas Coppola has publicly linked himself to Meta Utopia and is involved enough to be close to the Ponzi scheme’s founder, who has not yet been named.
It is not against any US law to publish this information with proof attached.
Update, July 2, 2022: Dincer Odabasi is now committing twice as much DMCA fraud as he was before.
Odabasi sent Google a “court order” on June 28 that says the same thing: “It’s against the law to search for scammers!” Stupid, but it also says this:
Based on the privacy clause of private life and the court document we will send you, we want the content to be taken down from publication and blocked from access.”
Odabasi is saying that a Turkish law is a “court document” that keeps scammers from telling the rest of the world. Oh dear.
Laetitude- Crook Review
Investors such as Laetitutde and Swapoo are circumspect on issues affecting investor wallets and active investments.
According to a Latitude News report dated August 13th, You have gotten one or two emails from Swapoo in the past several days, which also affects our Laetitude members.
Due to the continued strong relationship between Swapoo and Laetitude, we can guarantee that these changes will not affect your Laetitude accounts. Latitude will continue to operate as usual.
The alterations made by Swapoo will have an effect on the wallet and the bots. However, we are aware that wherever there are obstacles and closed doors, new doors will emerge to provide opportunities for greater success.
Swapoo is merely adjusting to the ever-changing regulatory environment and market situations.
The details of the e-mails sent are kept confidential. I have not encountered any examples in nature.
Regarding “evolving regulatory landscapes,” Laetitude is a Ponzi scheme operated by Swapoo.
David El Dib operates Laetitude from Dubai, the center of MLM fraud. Swapoo is run by Dave Martin, who is from the Philippines.El Dib and Martin have both established themselves on the BitClub Network.
The investigation by the Department of Justice found BitClub Network to be a $722 million Ponzi scheme. The founders of BitClub Network were arrested in 2019.
El Dib and Martin commit securities fraud and operate their own Ponzi scheme through Laetitude and Swapoo. The regulation of securities is not novel. For decades, every nation with a financial market has regulated securities fraud.
The Ponzi fraud announced a remedy for lost Swapoo wallets in a follow-up “Laetitude News” post dated August 26;
As you are likely aware, Laetitude no longer utilizes Swapoo for secure wallet services. As a result, we have recently implemented the ability to fund, purchase, and withdraw directly within Laetitude.
In light of this, we would like to encourage you to login and withdraw your balance as soon as possible, and to continue withdrawing your balance as your compensation earnings increase.
Laetitude lacks the two-factor authentication security offered by Swapoo, so it is essential that you protect your account with a formidable password. Again, what is occurring behind the scenes is kept secret.
The only clue I could locate was a query posted two weeks ago on Swapoo’s most recent Instagram post.
Swapoo has not published any new social media updates since July 30. This date also marked the last Facebook update posted by Laetitude.
The lack of visitors to both Laetitude and Swapoo suggests that the Ponzi scheme is running out of money to pay investment withdrawals.
The Philippine Securities and Exchange Commission is one of the most active securities regulators worldwide.
It is unclear whether they have anything to do with Swapoo’s issues.
Whatever else is occurring, it is rare for wallets to be abruptly shut off and placed up as unsecured in-house assets.
Keep up to date on any future developments.
GSPartners- Crook Review
GSPartners has dropped its claim of harassment against Chris Saunders. Saunders is the owner and operator of the YouTube channel Grit Grind Gold, which he uses to critique and report on the GSPartners Ponzi scheme.
In late January 2021, Saunders was sued for harassment by owner Josip Heit and promoters Michael Dalcoe and Antonio (Tony) Euclides Menesis De Gouveia.
Heit and the GSPartners Plaintiffs alleged that Sunders’ videos about the Ponzi scheme were defamatory.
Additionally, Heit took offense when Saunders pointed out his position in Karatbars International’s collapsed KBC Ponzi scheme.
GSB Gold Standard Corporation AG, Josip Heit, Michael Dalcoe, and Tony De Gouveia submitted a dismissal stipulation on July 29.
Christopher Saunders, the defendant, executed a declaration in connection with the aforementioned case on July 29, 2022.
Plaintiffs GSB Gold Standard Corporation AG, Josip Heit, Antonio Euclides Menesis De Gouveia, and Michael Dalcoe, by counsel and with the signature and agreement of counsel for Defendant Christopher Saunders, stipulate to the dismissal without prejudice of all claims in this matter pursuant to the Saunders’ Declaration.
The aforementioned stipulation from Saunders proves that he was granted permission.
Mr. Ovidu Toma in relation to the Plaintiffs’ assertions and declarations. Since January 2020, Mr. Ovidu Toma has provided me with evidence of Mr. Harald Seiz’s alleged involvement in Karatbars’ wrongful conduct.
“Ovidu Toma” refers to Ovidiu Toma, the former Chief Technology Officer of Karatbars International.
Today, Toma serves as the CEO of CryptoData. Romania-based CryptoData sells encryption hardware.
To return to Saunder’s assertion: I was aware, based on first-hand knowledge of facts and documents, that any alleged wrongdoing committed by Karatbars in relation to its Miami crypto bank and the issuance of KBC/KBC tokens was committed by Karatbars’ CEO, Mr. Harald Seiz, and that said wrongdoing was committed prior to any affiliation between Karatbars and GSB/Mr. Heit.
This is an odd concession to provide. Heit was the public face of Karatbars’ initial excursion into crypto-asset fraud. In an April 2019 interview, Seiz is referred to as a “major investor and board member” of Karatbars International. In Dubai, Karatbars was selling a “blockchain phone” at the time. When challenged about his remarks on the occasion, he responded, and I quote, ” You mentioned the KBC coin.
You stated that it is probable that it is one kilogram of gold. Is this truly a possibility? Heit reacted. Yes, of course it’s feasible. Nobody believes that many individuals perceive, at the appropriate moment, that they can join us.
We currently have a market valuation of approximately $300 million as of the previous week or two weeks. And now there are about a billion of us.
Is it not yet understood?
And when the mainnet is implemented, which will occur very soon, within a few months we will have a market capitalization of over $200 billion. After months of Heit and Seiz promoting Karatbars’ KBC, the KBC Ponzi coin dropped 62% following the hype event on July 4, 2019.
Heit, not Harald Seiz, was sent to address and explain the collapse to irate investors. KBC continued to leak throughout the subsequent months until it was eventually abandoned.
Heit had cashed out, left Karatbars, and launched his own Ponzi offshoot, GSPartners, before the end of 2019. The GSPartners Ponzi coins have performed no better than those of KBC.
G999 is supported by wash trading, which I believe is steadily depleting GSPartners’ second Ponzi scheme, LYS. G999 is being washed at approximately 0.002413. At $66.78, LYS continues to drain.
GEUR was launched earlier this month as a result of the continuous failure of G999 and LYS to take off. GSPartners and Heit symbolize the euro-pegged GEUR currency. It is thought that GEUR was developed because GSPartners investors no longer desired to hold G999 and LYS.
GEUR does not exist outside of GSPartners as of the publication date. GSPartners uses GEUR to support its most recent 300% ROI Ponzi scheme, metaverse certificates.
In the event that GSPartners and Saunders achieved a settlement, it has not been made public. Other than wrongly saying that Heit was not involved in the Karatbars KBC scam, Saunders has not recanted any of his GSPartners-related statements.
The court authorized the GSPartners plaintiff’s Stipulation of Dismissal on August 2nd. This concludes GSPartner’s harassment lawsuit against Saunders.
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