DFRF Enterprises filed IPO approval request with the SEC?
DFRF Enterprises is a high yield investment program (HYIP) that advertises 15% a month ROIs on affiliate investments (min $10,000).
Under the guise of mining operations in Africa, the scheme simply takes newly invested funds and uses it to pay off existing investors.
DFRF Enterprises’ founder, Daniel Fernandes Rojo Filho, is of course no stranger to Ponzi fraud. He was named defendant in a 2009 lawsuit filed by the regulators in Florida.
That lawsuit saw Filho return millions of dollars stolen from investors through Ponzi fraud.
Amidst reports the DFRF Enterprises has already run out of investor funds to pay out, now comes claims the company plans to register with the SEC and launch an IPO.
No, this isn’t a late April fools joke…
The claim was made in DFRF Enterprises marketing videos featuring Daniel Filho (right). These videos were uploaded to the official DFRF Enterprises YouTube channel, with snippets made available featuring commentary specific to the IPO and SEC claims.
The first video was uploaded on March 16th. In it, Filho claims
(We have) started the formalities to become a Public Company in the US and are awaiting approval from the Security Exchange Commission, SEC”, after which we can sell shares to raise to raise additional capital and trade in the stock market.
In late March the company will become one of the most important companies in the, once we transition from being a private company to a public company”.
The announcement suggests that Filho might not have plans to register DFRF itself for an IPO, but rather through a newly created company.
This would likely a shell company Filho is hoping might fly under the regulatory radar.
In a second video uploaded on March 23rd, Filho states
(We will make) an official announcement as soon as we (have) all records (showing) that (we) are now a public company.
Filho’s announcements appear to be a response to a RICO lawsuit filed in late February.
Two Massachusetts investors who filed $80,000 and $100,000 claim they never saw the advertised 15% a month ROI, because ‘DFRF’s business income was grossly inadequate to satisfy payments promised to members‘.
So now we have Filho trying to raise funds to pay said ROI out with, via the selling of shares.
Shortly after news of the lawsuit surface, DFRF Enterprises released a video directly addressing the suit:
No idea why, but that video has since been taken down by the company.
Meanwhile whether or not the SEC are aware DFRF Enterprises (either through their own name or that of another company) are seeking IPO approval is unclear.
Either way, one would certainly hope they do their homework before making a decision on the application.
Stay tuned…
right, fill up an exemption ‘D form’, and sell shares of a shell company, to pay off DFRF members who are raising a stink in court.
right now, filho is not under [known] investigation by civil or criminal authorities in massachusetts. if the state steps in now, this nonsense of raising IPO funds will come to a swift end.
but this is not the first time, a ponzi-out-of-money has announced SEC approvals, and IPO’s or investment clubs for investing.
these may be frantic filho noises, to keep his investors from running to secretary of state, william galvin, who has filed a civil ponzi suit against the ‘cabot ponzi’ recently.
Hey Oz… That “Capital Open” thing seems weird. In Portuguese (and I do not know in which language the video you mention was) when you say “capital open” (or “open capital” in a less broken English) it means a public company.
Is that really the company name or just some incorrect translation?
@Diego
Could be. Here’s the original sentence:
I’m refraining from linking because it’s an affiliate spam site.
I did read “capital público” which I took to mean “public company”, but “Capital Abierto” was capitalized so I took it for a name.
If it’s not let me know and I’ll amend the article.
That’s Spanish, but since it is very similar to the same terminology in Portuguese, it really means just public company or, to be more precise “publicly traded company”.
That is definitely Spanish, not Portuguese.
However, it did mention “convert” (convertira) so they are basically “reorganizing” the company into a stock company or something.
Thanks Diego.
@Kasey
“Stock company” would be a new company or DFRF Enterprises?
Some things need to be solved first, but I dare to say a lot.
Daniel in his last video that I saw, he claims a very different company. If by any chance he made it, it can be fair enough? That’s not my Judge, I leave it to law and justice.
I am not sure but an Entity to request from SEC a submission they need to publish the SEC Filings on their site isn’t it? (their videos and announcement, claim that they are already a public company). weird?
(for me as expected, these typo of companies use to lift their feet from the ground easily, the reality is always different.)
Apparently DFRF (Daniel Fernandes Rojo Filho) is not a good name atm (his name is burned all over the net by the Sinaloa suspect). Now Lion DFRF. what else…
there is a lot of misinformation here. you know the rule of the game: You agree to only spend money that you can afford to lose.
The rule of law states running and promoting Ponzi schemes is illegal.
Rule of law trumps your silly made up game rules.
Hi,
This is the brand new video with the brand new presentation at Orlando. Of course a bunch of lies.
Notice at the end the use of psychology to build the ‘family’ concept and then to state that, ‘as a family, we should protect ourselves from this mean bloggers who wants to slow down our growth…’
yes, a bunch of lies organized into a ‘corporate’ presentation, that can numb the brains of simple people hearing about credit notes, and leveraged funds, and fully insured, and gold mines across the planet spewing, duh, Gold. and 15% ‘interest’ on member investments, per month, for doing nothing!
so, filho and DFRF have gold mines across the world which produce 12 tonnes of gold every month, and he makes 100% profits each month.
question: if filho makes so much money, why is he inviting people to seminars and asking them to ‘participate’ by investing in his projects?
answer : because he has a big heart. yes! unlike other stingy greedy multimillionaires who keep all their earnings to themselves, daniel filho wantsta share with you! just pay him first !!
at this point ^^ i stopped listening to the video because ROFL took over 🙂
daniel filho thinks bloggers write negative things about his company DFRF because blogs are fake and are free to set up.
he asks his members to stop reading these blogs, because if they get influenced by the negativity and want to withdraw their money, then they will be the only ones who will lose out. because, daniel filho will keep mining 12 tonnes of gold every month, and he Don’t Care!
filho says blogs are not news, and no ‘proper’ news agency has reported anything negative about DFRF.
now we have the news about the british columbia [canada] securities exchange issuing a warning against DFRF.
https://behindmlm.com/companies/canada-issues-dfrf-enterprises-investment-fraud-warning/
if daniel filho does not reassure his members now with a new video, i’m sure they will read blogs, and ask for their money back.
ps: in his new video would filho kindly reveal the locations of his gold mines across the world? that will zip the british columbia securities exchange!
Very typical cult tactic: we stand alone against the forces arrayed against us! It’s you and me against the world! Stand with me!
(Good for a speech in Lord of the Rings or Braveheart, bad speech for $$$ based stuff)
For more info about “no negativity”, see
kschang.hubpages.com/hub/Danger-of-Seeking-Positivity-and-Ignoring-Negativity
For any of the Kool-Aid drinkers that may stumble across this post. Consider this…
If your boy Filho pulled out 12 tonnes of gold per month from his alleged mines, when converted to troy ounces, which is primarily how gold is traded, that equates to 385,808 troy ounces.
As of today, gold is selling for @1189.85 per troy ounce. That equates to $459,053,648.80. Yes, almost $460 million dollars.
Over just a 2 month period, that would pump almost 1 billion dollars of gold out to the market. Now, it doesn’t take the sharpest knife in the drawer to know that much supply dumped into a volatile market is going to cause the price to fall so fast, people would lose billions.
Filho’s gold would be worth next to nothing, as would most of the gold reserves around the world.
According to BBC.com, as of 2013, there are currently 171,300 tonnes of gold in circulation in the entire world. Your boy just happened to stumble across mines that are going to, in just a 14 months time, DOUBLE the amount of gold in the marketplace?
It ain’t gonna happen, boys and girls, because there is NO single or collective mines left anywhere on this planet that can yield that much material. All the big lodes are tapped out, and have been for some time.
Simple math. Ask Filho about it…
Jerry
LuvNLife… You’re making it too complicated.
According to Reuters article, Mali’s gold output PER YEAR is 49 tons as of 2013. That’s the entire country for 1 YEAR, all mines.
reuters.com/article/2013/08/14/mali-gold-production-idUSL6N0GF1P720130814
For a single mine in Mali to yield 12 tons a MONTH is not only impossible, it’s farcical.
@LuvNLife Jerry
Have you lost your calculator when you did that math? 171,300 tonnes of gold in circulation divided by a mere 12 tonnes of AU monthly would require Fourteen Thousand, two hundred seventy five (14,275) Months to “double” the gold supply, or one thousand eighty-nine (1,189) years…
And I have researched and read the assays of the Mali mines and it will take him about twenty years to empty the Mali mines of known reserves… He will not double the world’s supply of gold in his or your lifetime!!!
And, in case you had not noticed, demand far exceeds 12 tonnes monthly in China alone… add Dubai, India and a host of other GOLD HORDERS and we will never catch up with demand…
And the US WILL HAVE TO REPLENISH ITS SUPPLY SOON TO COVER THE HUGE DEBT WE OWE or lose reserve currency status!!!
Clearly your outrage is unsupported by the Math or world economics!!!
hey guy I am a member of DFRF ENTERPRISES THEY ALL WAY PAY ME EVERY MONTH THE 15%. I TOOK ALL THE PROFET I MAKE.
dfrf is a good company why he need the member money because we the member money the company triple that why ok thankyou.
Instead of creating endless Ponzi liabilities, why not just take a loan out from a bank and “triple it” then?
Nothing suss.
“Current situation of DFRF Enterprises by CEO Daniel Filho”:
facebook.com/dfrftv/videos/813814588726673/?permPage=1
Uh, an internal share price of $60 that isn’t pegged to anything… and no disclosure of the company’s purported SEC registration?
Come on now…
Lol, “we are terminating the agreements of all US members”.
They get a check (not sure if this is the amount invested or the Ponzi balance), and then have to reinvest.
Right, because shuffling funds around totally negates Ponzi fraud…
We’re gunna be seeing all of this mentioned in an SEC complaint at some point, it’s just too silly!
From about the ten minute mark, it sure sounds like Filho’s already been contacted by US regulators.