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Crypto Ponzi Fraud Scheme, Do not get fooled. #196323
08/24/23 04:12 PM
08/24/23 04:12 PM
Rick H  Offline
OP
Group: Admin Team
3000+ Member
Joined: Jan 2008
Posts: 3,123
Florida, USA
We have some of our members who have gone into Crypto currency and even worse participate in a "investment scheme" with a ponzi structure, even though we warned them and made clear it did not seem legit. Here is the news on it..

https://www.youtube.com/watch?v=iMf9WLbSBNY

"More than 62,000 people have lost hundreds of millions to Eddy Alexandre's crypto platform, but many in the Haitian community still support him"
https://documentedny.com/2023/04/20/eddy-alexandre-eminifx-cryptocurrency-fraud/

Here is even more...
"Two Florida attorneys are suing nearly 100 churches, including the General Conference Corporation of Seventh Day Adventist (SDA), and prominent pastors in the Haitian community for allegedly recruiting thousands of congregants to join EminiFX, the cryptocurrency site whose CEO has since pled guilty to fraud. The wife, a sister and two cousins of CEO Eddy Alexandre are among individuals also accused in the civil suit of perpetrating the Ponzi scheme that investigators said attracted 62,000 members from seven different countries.

Of the numerous examples of alleged enticement cited in the suit is the story of a pastor-first lady pair who brought in $15 million from their Pennsylvania churches by telling congregants Warren Buffet being an EminiFX investor and that the Adventist church would insure their investment.

?We believe that people were convinced by the church and the ministers that this was a good investment,? J. Wil Morris, the lead attorney in the suit, told The Haitian Times earlier this week. ?They knew it was a scam.?

Morris said the General Conference Corporation of Seventh Day Adventist (GCC) are among the 108 defendants so far in the class action civil suit. He said the Seventh Day Adventist churches, more than 60 listed in the suit, allowed Alexandre to come into their churches to market EminiFX via meetings, galas and other means. Morris and the lawsuit say some pastors, deacons and hired personalities collected money directly from parishioners via cash and Zelle during religious meetings."

"Two Miami Lawyers filed a federal class action lawsuit on behalf of 62,000 Haitian American investors defrauded by Eddy ALEXANDRE with the assistance of the Seventh Day Adventist Church. Over fifty Haitian Pastors of the Seventh Day Adventist church conspired with EDDY ALEXANDRE and others to defraud 62,000 Haitian American investors of over 300 million dollars. The case entitled Lorfils Joseph v. General Conference Corporation of the Seventh Day Adventist Church et al, Case No.: 23-cv-21551 was filed on April 25, 2023 in the United States District Court, Southern District of Florida, Miami Division."
https://www.einnews.com/pr_news/630...dre-and-the-seventh-day-adventist-church

Last edited by Rick H; 08/24/23 05:30 PM.
Re: Crypto Ponzi Fraud Scheme, Do not get fooled. [Re: Rick H] #196331
08/25/23 09:26 AM
08/25/23 09:26 AM
G
Garywk  Offline
SDA
Active Member 2023

Veteran Member
Joined: Jul 2023
Posts: 982
Colville, Wa
This crypto currency thing is reminiscent of what Ellen White said was happening in her day. She said ministers were investing in mining stocks and talking others into it too as there were big financial rewards if the mine was profitable. If not, oh well, you lose it all. It's the same with crypto. Big possible wins and big possible losses. It's just as possible to lose as to win.

I've always looked at this as a scam because there is no intrinsic value in a crypto like there is in land, a home or precious metals.

Last edited by Garywk; 08/25/23 09:28 AM.
Re: Crypto Ponzi Fraud Scheme, Do not get fooled. [Re: Rick H] #196353
08/27/23 05:30 PM
08/27/23 05:30 PM
K
kland  Offline
SDA
Active Member 2024

5500+ Member
Joined: Oct 2008
Posts: 6,425
Midland
Yes, I don't feel comfortable owing something that doesn't really exists, and a single check mark on a computer screen can make it not exist.

Why that would be like having a bank account and the government doesn't like you donating money to someone and locking your bank account. DOH!

Re: Crypto Ponzi Fraud Scheme, Do not get fooled. [Re: kland] #196354
08/28/23 12:17 AM
08/28/23 12:17 AM
G
Garywk  Offline
SDA
Active Member 2023

Veteran Member
Joined: Jul 2023
Posts: 982
Colville, Wa
Originally Posted by kland
Yes, I don't feel comfortable owing something that doesn't really exists, and a single check mark on a computer screen can make it not exist.

Why that would be like having a bank account and the government doesn't like you donating money to someone and locking your bank account. DOH!



We are fully agreed on this.

Last edited by Garywk; 08/28/23 12:17 AM.
Re: Crypto Ponzi Fraud Scheme, Do not get fooled. [Re: Rick H] #196547
09/13/23 07:27 PM
09/13/23 07:27 PM
Rick H  Offline
OP
Group: Admin Team
3000+ Member
Joined: Jan 2008
Posts: 3,123
Florida, USA
Take a look at this, even after the FTX collapse for its fake scheme to sell crypto money..
https://www.forbes.com/sites/darreo...unds-collapse-explained/?sh=5c078b8c3cb7

The people are still buying this fake money...
https://www.coindesk.com/policy/2023/09/13/ftx-tweaks-crypto-sale-proposal-to-placate-us-government/

Last edited by Rick H; 09/13/23 07:28 PM.
Re: Crypto Ponzi Fraud Scheme, Do not get fooled. [Re: Rick H] #196548
09/13/23 08:11 PM
09/13/23 08:11 PM
G
Garywk  Offline
SDA
Active Member 2023

Veteran Member
Joined: Jul 2023
Posts: 982
Colville, Wa
Originally Posted by Rick H
Take a look at this, even after the FTX collapse for its fake scheme to sell crypto money..
https://www.forbes.com/sites/darreo...unds-collapse-explained/?sh=5c078b8c3cb7

The people are still buying this fake money...
https://www.coindesk.com/policy/2023/09/13/ftx-tweaks-crypto-sale-proposal-to-placate-us-government/


Not surprising. The games being played with crypto currencies will end up being completely controlled by governments. That's been the game since the beginning as government control of everyone's money is exactly what the devil wants as he has always been the one behind the one world government movement..

Last edited by Garywk; 09/13/23 08:12 PM.

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