Withdrawals were restricted by EmpiresX in early October. Withdrawals were then disabled fully in mid-October and have stayed that way ever since. Emerson Pires and Flavio Goncalves, co-founders of EmpiresX, threatened legal action against victims and senior promoters in a mid-December corporate update.
Pires and Goncalves also cited a slew of unverifiable withdrawal justifications rather than simply admitting their Ponzi scheme ran out of money. The audio recording “Update From The Founders Of The Company” is EmpiresX’s December 15th update.
Pires and Goncalves have appeared on video in prior EmpiresX upgrades. Pires and Goncalves read from a script in the audio recording. It’s uncertain whether the two are in the same place. Pires and Goncalves discuss EmpiresX’s continuous withdrawal concerns in addition to threatening to sue investors. I’ve split the verbatim citing of issues discussed in the update below to make things easy.
Legal threats have been made. Pires: “The corporation is now compelled to spend time and resources to defend itself after things were said and filed against it. Despite the fact that EmpiresX acted in good faith throughout, charges and claims were made against it. The charges and accusations, according to EmpiresX, are false and untrue, and (are) made with malice in mind. As a result, in order to safeguard everyone, the corporation is pursuing legal action against anyone who want to damage others or make false statements about the company, which is considered defamation. Because the only people who would complain about EmpiresX are unsatisfied investors, this is interpreted as a threat to the affiliate community. We’ll come after you if you don’t shut up.”
Pires: “In a similar vein to our previous comment regarding misuse, EmpiresX has discovered that certain individuals were receiving cash from sources in their network, promising a return on their investment, and then preparing to deliver a lower return than EmpiresX would. This breaches a number of rules and regulations, and the firm is aware of the perpetrators and is pursuing legal action against them. Fraudsters prey on other scammers. You despise seeing it. For the record, I’m not aware of EmpiresX naming any “actors” or bringing legal action against them. Withdrawal Delays in EmpiresX.”
Pires: To better serve you, we’ve made investments to diversify into new markets, which reduces risk. Precious stones, precious metals, and real estate are among the new markets. Partnerships with professionals in Brazil, Namibia, Angola, Dubai, and Portugal were developed to accomplish these deals. Because of these new collaborations, there is a global reach that lowers risks and expands opportunities. It required a lot of time and networking to build these ties. As a result, there have been no updates.”
This is the first time I’ve heard of EmpiresX claiming to be involved in anything other than bot trading. Pires’ claims of “additional revenue” have been refuted by no evidence. In addition, due to the novel and unique nature of digital currency transactions, the company relied on manual processes, which caused delays in meeting expectations. As a result, EmpiresX enlisted the help of seasoned individuals who breached contract restrictions, acted deliberately, and distributed operational trade secrets in order to expedite operations. This ultimately harmed the company, and some of it resulted in extra harm.
Goncalves: “One of the injuries was the exposure of the new IT company, which resulted in a torrent of phone calls to the new IT development firm, which they regarded as harassment. It is vital to maintain secrecy before, during, and after the construction of a new system to prevent the company from malice and the client database from being distorted. This contract breach resulted in non-performance, which resulted in more complications and delays.”
It’s unclear whether Goncalves is referring to his Tecnologia2u Brazilian development firm or another one. There has been no evidence produced to back up Goncalves IT firm assertions.
Goncalves: “The Coinbase payment platform was also a hindrance. To be clear, Coinbase Commerce is a separate platform from Coinbase and is used for receiving and transmitting payments. Following the Coinbase outage, the bitcoin network became unavailable, and it remains thus to this day. Due to a Coinbase blockchain problem that is producing a network unavailability issue, crypto money have become untransferable [sic].
All other cryptocurrencies, such as ethereum and USDT, are accessible through the same platform. And the bitcoin network is the only one affected by this problem. Regrettably, the majority of the company’s payments were paid in bitcoin. And because of this problem, the company has been unable to convert to other cryptos, withdraw funds, or process payments. According to Coinbase’s incident database, no bitcoin issues were reported in December. Withdrawals from EmpiresX have been blocked since mid-October.
Pires: “The organization is experiencing distractions from its main business due to unforeseen obstacles. Nonetheless, the organization is taking all reasonable steps to guarantee that payments are made. EmpiresX will not give up on resolving these issues. EmpiresX withdrawals are still disabled as of January 7th. Flavio Goncalves and Emerson Pires are missing. EmpiresX investor accounts are being closed. EmpiresX is canceling account(s) when the capital received was restored by Goncalves.”
Over the next few weeks, EmpiresX will close all accounts that have requested a capital withdrawal for the third time or have broken company policy. Goncalves twists three basic phrases in an attempt to seem like a lawyer: “EmpiresX is involuntarily closing any affiliate investor account that has received more money than they invested;”
EmpiresX is involuntarily closing any affiliate investor account that has made three withdrawals; and EmpiresX is involuntarily closing additional affiliate investor accounts for violating company policy. SEC Regulations (???)
Goncalves: “Exchanges or valid received for access to EmpiresX’s business activities will be restored above any withdraws and liquidation values, according to SEC rules. Simply put, whatever capital was delivered to EmpiresX will or may have previously provided a transaction, returning the capital to the source from which it was acquired. I can confidently confirm that EmpiresX does not have any “SEC restrictions” that prevent it from processing withdrawals.”
EmpiresX is a Ponzi scheme that has already been found in violation of US securities laws. Pseudo-compliance is when a company refuses to process withdrawals under the premise of not wanting to commit any more securities violations.
Goncalves: “In addition, the company has met (or almost met) its net capital requirements.”
Goncalves comes to a halt there, as if he believes he’s made his point. I’m not sure what that point is (or even what he’s saying). Looking Ahead… Despite the fact that withdrawals have been restricted for three months, EmpiresX’s website traffic continues to climb.
On December 1st, we released our most recent EmpiresX update. Australia (22 percent), South Africa (19 percent), and the United States were the top EmpiresX website traffic sources at the time, according to Alexa (15 percent ). Recruitment appears to have stopped in those countries. Tanzania is presently strongly promoting EmpiresX. (66 percent ). South Africa has decreased to 16 percent, while Vietnam has taken over 6 percent from the United States.
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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As a result of a “Cyberattack”, the company’s attempt to withdraw was unsuccessful