Frank Calabro Jr. agrees to stop securities fraud, continues anyway…

June 14, 2018 mlmdetective 0

Rather than clear his name with evidence he isn’t a serial scammer, Frank Calabro Jr. has agreed to stop committing securities fraud in North Carolina.Calabro Jr. popped up on the North Carolina Securities Division’s radar via his promotion of the USI-Tech Ponzi scheme.
Neither USI-Tech or Calabro Jr. are registered to offer securities in North Carolina (or anywhere in the US for that matter).
Conclusions reached in Calabro’s settlement include:

USI-Tech’s BTC Packages constituted a security
Frank Calabro Jr. violated North Carolina’s securities laws by offering unregistered securities across the state
Frank Calabro Jr. violated North Carolina’s securities laws by offering securities in North Carolina (registered…

USI-Tech securities fraud cease and desist issued in Ohio

May 23, 2018 mlmdetective 0

As part of Operation Cryptosweep, Ohio has issued USI-Tech with a securities fraud cease and desist.The May 18th notice identifies USI-Tech Limited as the sole respondent, through a PO Box address in Dubai.
The cease and desist appears to have been issued following a local investor complaint.
After being pitched on USI-Tech by “Mark Grobril” [sic] in April 2017, the unnamed Ohio investor (R.V.) deposited $22,000 into USI-Tech.
This would be USI-Tech’s infamous Bitcoin Package Ponzi scheme, officially launched in mid 2017.
Note that although misspelt, I believe the complaint refers to Mark Ghobril (right),one of USI-Tech’s top promoters.
When R.V. told (Ghobril) of his intention to withdraw…

Top USI-Tech promoter Justin Verrengia sends FBI after critic?

April 18, 2018 mlmdetective 0

Justin Verrengia was one of USI-Tech’s top US-based investors.After USI-Tech collapsed in the US, Verrengia, who is based out of Florida, began scrubbing the internet of his association with the Ponzi scheme.Most of Verrengia’s promotion of USI-Tech, primarily through his “Crypto Alchemy” Facebook group, has since been made private or deleted.I did however find one Nigerian USI-Tech affiliate claiming Verrengiais the highest earner in usi-tech, he made about 51 BTC in just 72 days. Yes, I said 52 BTC.I have known Justin for a while in other business online so this result is typical of him.The video description of a deleted…

USI-Tech permanently banned in North Carolina for securities fraud

April 17, 2018 mlmdetective 0

Despite management claiming to have ‘never had a problem in the USA and Canada‘, further evidence of USI-Tech’s non-compliance with US regulators continues to surface.The latest is confirmation the company failed to respond to a North Carolina securities fraud cease and desist.Following an internal investigation, North Carolina issued USI-Tech with a securities fraud cease and desist on February 16th.On February 22nd USI-Tech’s attorneys at Hart David Carson accepted service of the cease and desist.On March 11th, the same cease and desist was served on USI-Tech PO Box address in Dubai.Despite their lawyers being made aware of the notice, USI-Tech failed to…

USI-Tech securities fraud warning issued in Spain

April 10, 2018 mlmdetective 0

Spain’s top securities regulator, the National Securities Market Commission (CMNV), has issued a securities fraud warning against USI-Tech.CMNV’s warning, published on April 9th, states that USI-Tech “is not authorized to provide investment services” in Spain.By continuing to operate locally, the CMNV claims USI-Tech is in violation of Spain’s Securities Markets Law.At the time of publication, Alexa estimate Spain makes up less than 7% of traffic to the USI-Tech website.In related news pertaining to USI-Tech investors reporting it will take decades to pay them back at the current ROI rate, the company has blamed electricity costs and bitcoin’s high mining difficulty.To help…

North Carolina Sec Div urges USI-Tech victims to come forward

April 7, 2018 mlmdetective 0

Following less than successful attempts reach out to USI-Tech victims in North Carolina, the Securities Division is broadening its appeal.With permission from an investigative agent working for the North Carolina Secretary of State, the following message is conveyed;The Securities Division of the NC Secretary of State would like to speak with anyone who believes they have lost funds through USI-Tech and are residents of North Carolina or whom were brought into USI-Tech by a sponsor from North Carolina.If you meet this criteria, please contact the Securities Division through their website at www.sosnc.gov or by calling (919) 814-5505.We usually don’t like to broadcast that…

USI-Tech bail on US and Canadian investors…. again?

April 4, 2018 mlmdetective 0

Following confirmation its BTC Packages were unregistered securities, USI-Tech announced it was abandoning the US and Canada back in early January.Turns out that was baloney, with USI-Tech once again announcing it is abandoning the US and Canada a few days ago.In a communication to investors on or about April 2nd, USI-Tech wrote;We regret to announce that USI-TECH will no longer operate in the US and Canada due to active participants continuously promoting our products and services incorrectly.With immediate effect we will no longer accept new registrations or purchase of products and services within these jurisdictions.Back in January USI-Tech cited how affiliates…

Frank Calabro Jr. up on felony charges, house raided, assets seized

March 13, 2018 mlmdetective 0

Frank Edward Calabro Jr., one of the USI-Tech Ponzi scheme’s top investors, is the subject of an ongoing investigation by North Carolina authorities.In conjunction with a securities fraud cease and desist issued on March 8th, authorities raided Calabro Jr.’s Guilford County home on March 9th.According to a March 8th search warrant provided by the Facebook page “Scam Page.”, authorities searched Calabro Jr.’s property at 9:45am and seized various items of interest.An attached “application for search warrant form” confirms the warrant was issued in connection with the North Carolina Securities Division fraud case.The application also reveals the Securities Division began investigating Calabro…

Frank Calabro Jr. serial scammer cease & desist issued in North Carolina

March 10, 2018 mlmdetective 0

Frank Edward Calabro Jr. has a history of scamming people dating back to Zeek Rewards and beyond.Since Zeek Rewards was shut down by the SEC in 2012, Calabro Jr. has promoted train wreck after train wreck of collapsed scams – profiting handsomely along the way.It seems the law has finally caught up with Calabro Jr., following a securities fraud cease and desist issued by North Carolina.The North Carolina Securities Division identifies Calabro Jr. as ‘an adult individual residing in Guilford County, North Carolina.‘Calabro has been in the business of affiliate marketing for at least the last five years.Over the past five years,…

US regulatory investigation into USI-Tech confirmed

March 8, 2018 mlmdetective 0

Yesterday we reported on USI-Tech admitting it was using newly invested funds to pay off existing investors.Today we can confirm a US regulatory investigation into the company is underway.Confirmation of a US regulatory investigation comes from USI-Tech affiliate Mike Klingler.Klingler is based out of Oregon and in a post to the Facebook group “USI Discussions”, yesterday announced he’d been subpoenaed by the Washington State Division of Securities.Accordingly Kilingler claims he’s ‘been submitting a number of requested documents to comply‘.They are investigating USI and its promoters.The subpoena had nothing to do with anything specific I had done other than, I think, one…