Greek Mythology Club scammers pivot to commodities fraud
The scammers behind the collapsed Greek Mythology Club NFT Ponzi have pivoted to commodities fraud.
In early February, Brendon Parker (aka Crypto Bren) announced the GMC Elev8ed Forex Trading System.
Fellow Greek Mythology Club co-founder Zak Anstis has GMC Elev8ed daily returns marketing on his social feeds:
Greek Mythology Club affiliates invest $100 or more into GMC Elev8ed.
Passive daily returns of in excess of 3% to 4% are purportedly generated through trading.
In violation of US Commodities law, GMC Elev8ed does not disclose verifiable trader details:
While the original Greek Mythology Club NFT Ponzi was MLM, GMC Elev8ed isn’t. The company pays tiered commissions on funds invested by personally recruited affiliates only:
- tier 1 – generate $50,000 in personally recruited affiliate investment volume and receive a 5% direct referral commission
- tier 2 – generate $75,000 in personally recruited affiliate investment volume and receive a 7% direct referral commission
- tier 3 – generate $100,000 in personally recruited affiliate investment volume and receive a 10% direct referral commission
Brendon Parker is a US resident…
…and Greek Mythology Club (GMC) represents it is based out of the US:
In addition to disclosure related violations of the Commodities Act, GMC Elev8ed further violates the Act by not having registered with the CFTC.
Securities and wire fraud also come into play by way of GMC Elev8ed offering a “pooled account” to generate passive returns through:
To determine whether a company is offering securities we need to identify an investment contract. This is done by applying the Howey Test to GMC Elev8e’s business model.
An investment contract exists if there is an “investment of money in a common enterprise with a reasonable expectation of profits to be derived from the efforts of others.”
With respect to GMC Elev8ed we have:
- GMC affiliates investing into a “pooled account” run by GMC Elev8ed (a “common enterprise”), on the promise of regularly advertised daily passive returns (“a reasonable expectation of profits”); and
- said profits are purportedly generated via an undisclosed in house trader (“derived from the efforts of others”)
Having identified an investment contract in GMC Elev8ed’s offering, it thus constitutes a securities offering.
A search of the SEC’s public Edgar database reveals Greek Mythology Club, GMC Elev8ed, Brendon Parker and Zak Anstis are not registered.
Greek Mythology Club pivoting to commodities fraud is hardly surprising considering the original NFT investment scheme wasn’t registered with the SEC or FCA (Zak Anstis is a UK resident).
Illegal trading schemes end with investors losing money to the people running the scheme.
GMC Elev8ed only launched in February so it’s early days yet. Pending any further updates we’ll keep you posted.
Update 18th July 2024 – GMC Elev8ed has collapsed.
I am so glad this is written.
I am trying to withdraw my forex money from their ‘PAMM’ account for the last week. But Zak has been saying they have trades ongoing for the past 5 days and I can’t withdraw and just yesterday Brendon boasted of profits 2.6& in a day.
Zak and their so called expert TEE TRADER both live in Plymouth and they dont live too far from me, I have reported them both to Plymouth trading standards.
If anyone else wants to complain, please post a message here and I will follow up.
Scoundrel’s BOTH of them.
I bet they run with the money soon and blame it on the TRADER!!! That he had a bad day and the account got blown. The Newcomer TEE TRADER.
@Lisa – I believe you may need to contact Action Fraud first and then local authorities.
The name of the trader is Tal Rosenstein
He has already scammed people, he has a dissolved company on companies house. Company name BULL MARKET FOREX LTD. Not sure if Zak was apart of it.
find-and-update.company-information.service.gov.uk/company/12932351/filing-history
I need to follow this one!
@Lorel
Thanks for that information. Yes I have just reported it with Action Fraud, and I will update the information about the trader. They are offering 20%to30% a month which needs to be approved by the FCA. I will do my best to make sure TAL does not trade again!
They have also stopped paying on the NFTs people have bought. But people are scared to complain as they will get kicked out.
They don’t realise, these people have been scamming for years and years. They have taken $200k in their forex account in just 2-3 days. I have found Tal on facebook also, taken screenshots of all his page incase he wipes it.
People in the US need to report Brendon, I am currently speaking to a few here in the UK.
Will keep informed.
I’ve been following this one and according to their myfxbook stats the account has fluctuated between 20-40% drawdown with extremely risky trading going on, stop losses being moved, high lot sizes relative to balance etc. You would have to be nuts to put money into this.
Issue with MyFXBook is that it’s bullshit and easily faked. Also not a financial regulator so meaningless.
Oz is right.
They scammed $2m on traders domain, all their trades were manipulated also.
They scammed people on their Shopify and Amazon Stores charging $20k upwards each.
They no longer pay on their NFT rewards which were all worthless.
They scammed 100s of people with the Crappy Forex EAs which no longer work, people have blown their accounts. If it was ‘so’ successful, why have they stopped promoting it.
In the end they blame the ‘Trader’ or ‘Broker’
For Elev8ed they are using some dodgy Broker based in China called JUNO. Yes, and these brokers can all manipulate their own trades. Zak, Brendon, Tal and Vlad are all in on this…
They just block anyone who complains. Plus Brendon is always finding new sheep.
So they’re just gambling wildly and if they’re even being honest.
So they’re just gambling wildly and if they’re even being honest
Yes, what do they care?. Its the fools that put money into everysingle scam they do. They still support them, even though they’ve scammed multiple times.
Well, Well, Well… Seems as though Zak Anstis and Brendon Parker are reading these comments.
Someone just sent me a screenshot of an note he put on his Telegram Group.
Calling us all idiots. (Why Don’t you tell us your past and every single scam you’ve been involved in. Are you paying your NFT Holders?) Just so, all the new people you have connected with know your past.
He also mentions that they both are INVESTORS too like all members…. and the make the same as everyone else (where have we seen this before). LOLLLZ Zak, you get a kickback from the shady broker even if your trades loose.
You also take 30% from your sheep of investors. You got to keep all that NFT money, all that Shopify Stores money. Remember You made me pay $20k for.??
So when this implodes and everyone looses their funds, no doubt it will be…
Well forex is risky.
Markets are not what we expected.
Remember, everytime you promote on FB and Instagram, more and more incriminating evidence is bring produced.
Yes, they have not paid anyone on the NFTs for 4-5 months. People that question are getting thrown out of the the chat group.
Typical scammer behaviour.
As for their trader. I just seen a screen shot and they are 50k drawdown on a $200k balanced accounted. They just keep on opening trades HOPING it will turn. This is blind trading.
The trader said they don’t risk more than 3 %, but one of their trades at this moment is 15% down.
Their trading is showing lots of losses. This happened when they did Traders Domain. They will carry on showing losses and then blame it on market conditions.
This is why they have some dodgy broker, They are all in on it. They will say losses but its all fixed by the broker. In the end there probably is no real trading. The brokers can show whatever they want on the MT4….
This is a typical forex scam.
Stay away people. Zak and Brendon know what they are doing. The are massive con artists.
So, their trader who has no dissapeared has blown the account of $300k, in other words Zak Brendon and Vlad have just pocketed a lot of money.
Yes they are now playing the innocent party here. They are trying to locate the Trader. Remember this is the trusted trader with 9 years experience who was Zaks so called child hood friend.
Nevermind, Zak and Brendon will come with another venture in the next 24 hours to recover your funds. But you have to add more funds to recover previous losses. Meanwhile zak has just posted this on his chat group…
…Guys just helping my mother in law clean her house…. Will be here for a few hours that’s why I’m quiet…. After I’ll meet tal and HOPEFULLY I will have some news for you all ! In regards to a plan of action and some form of update from him…