Seemingly more procedural than anything at this stage, the Ontario Securities Commission is seeking an order that would permanently ban USI-Tech. The order was requested via a “Statement of Allegations”, filed on December 4th....
Outside of a yellow Lamborghini that may or may not belong to Ralf Gold, there hasn’t been much information on what the millions USI-Tech investors lost has been spent on.Following the filing of a lawsuit by Horst Jicha, we can now account for an additional $1.5 million in stolen USI-Tech investor funds.
Last October, USI-Tech announced it had worked out how to
be 95% more efficient in producing electricity with revolutionary magnetic power innovation, heating and cooling innovations, artificial intelligence.
Putting aside the fact that the majority of USI-Tech’s ROI revenue was recycled new investment, the company claimed this “new technology” would be implemented…
Rather than just admit USI-Tech was a Ponzi scheme that collapsed, owners Joao Severino, Horst Jicha and Ralf Gold continue to string investors along.In their latest communication, USI-Tech now blame non-payment on the state of the cryptocurrency mining industry.Citing unspecified “amendments in the crypto regulations”, a few hours ago USI-Tech informed affiliates;
Firstly, the mining industry has not been very lucrative and profitable for miners the last several months.
Also, some of the amendments in the crypto regulations are not in favor of the miners, making mining more pressing and challenging.
We have exhausted our resourced to stabilize the industry and make mining as rewarding…
Thought the USI-Tech Ponzi scheme had completely collapsed?Yeah, not quite.
USI-Tech had initially planned to exit-scam through the TechCoin ICO.
Y’know, the usual stuff: Promise the shitcoin will moon, get it listed on some shady exchanges and then convert unpayable Ponzi ROI balances to TechCoin and do a runner.
Fortunately USI-Tech’s plans were interrupted by pesky US regulators. Nevertheless they did manage to launch TechCoin and keep a few investors strung along.
Unfortunately adoption of TechCoin isn’t where USI-Tech wants it to be just yet.
USI-Tech is still trying to get TechCoin listed on an exchange. To further that goal they’ve set up “TechCoinDeals”.
TechCoinDeals is an…
New Zealand’s Financial Markets Authority has issued an investment warning against USI-Tech.Better late than never?
As per the FMA’s August 16th warning;
USI-Tech is not registered on the Financial Service Providers Register to provide financial services in New Zealand.
We consider that the operations of the entity bear the hallmarks of a scam.
We therefore strongly recommend that you do not deal with the entity.
Following a securities fraud cease and desist issued in Texas last year, USI-Tech pulled the plug on their bitcoin package scheme.
Following the typical Ponzi collapse playbook, USI-Tech’s owners Joao Severino, Horst Jicha and Ralf Gold have gone underground.
How much they collectively stole…
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…
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…
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…
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…