Holton Buggs kicks out IQ Chain event attendee for “causing issues”
Disturbing footage of Holton Buggs evicting an attendee at an IQ Chain event in Turkey has emerged.
In the footage Holton Buggs trashes Ted Nuyten and BusinessForHome, makes excuses for Ormeus Global investor losses, claims he knows nothing about coffee or cryptocurrency, and ultimately refuses to answer hard-hitting questions about his new gig, IQ Chain.
The twenty-one minute video begins with an event attendee directing questions to Buggs in Turkish.
Buggs is standing in front of a projection and appears to have been pitching IQ Chain’s $10,000 Platinum trading bot investment offer.
IQ CHAIN Global has established unique, proprietary accounts with professional Forex traders that “mirror” the trading accounts of professionals in the field.
You don’t need to learn how to trade. Your account mirrors that of a Master who has the experience to trade with confidence.
The person directing questions to Buggs questions is Enes Olgun, a prominent figure in the Turkish MLM community.
In Olgun’s own words, he describes the footage as follows;
How is Holton Buggs managing his Ormeus Ponzi responsibilities in Turkey, whilst maintaining his position in Organo Gold corporate?
Today i intruded into one of his secret meetings and I told everything on his face.
Olgun claims he isn’t satisfied with Buggs’ answers to questions asked earlier and, through the translator, casts doubt over Buggs’ cryptocurrency knowledge.
Early on in the footage, Ted Nuyten and BusinessForHome come up. Olgun cites Nuyten’s website as how he became aware of Bugg’s involvement in IQ Chain.
[5:07] When you get to know a person, never get to know a person because of Ted Nuyten or the news, because if that was the case, people would have hated me before Organo.
The BusinessForHome article in question claimed Holton Buggs and John Barksdale were actively recruiting US residents into IQ Chain.
It also cited the reason for Buggs’ involvement in IQ Chain was a sharp decline in Organo Gold sales volume.
The article has since been deleted, something for which Buggs appears to take credit for.
[9:47] It was no different how Ted’s first news article about me and John Barksdale, but I had to stand up and I made Ted rewrite it three different times.
Because he says opinions which are completely wrong.
And I have all the documentation on my phone of me communicating with Ted.
The difficult questions put to Buggs begin when Olgun brings up Ormeus Global investor losses, to which Buggs replied;
[4:45] I’m very familiar with John Barksdale and I’m very familiar with the Ormeus side of things.
When one says that commissions weren’t paid, that’s a lie.
Back in March we published an article quoting Ormeus Global investors claiming to have not been paid commissions “for over a year”.
Buggs suggests that, as of November 3rd, any owed Ormeus Global commissions have since been paid out
Which is fine, but not really what Olgun was talking about.
Ormeus Global is your classic pump and dump MLM scam.
Investors were promised riches through ORME, a worthless shitcoin Barksdale set up to dump onto investors.
During its prime, Ormeus Global affiliates were running around the internet touting a 4300% annual returns.
On the back of this marketing, real money was handed over to Barksdale and Ormeus Global in exchange for ORME.
Initially, through withdrawal requests, Ormeus Global affiliates could realize returns via Ormeus Global’s internal exchange.
This was, in effect, John Barksdale using newly invested funds to pay out existing investors.
Eventually ORME was listed on a public exchange and with no interest outside of the Ormeus Global Ponzi scheme, dumped from a high of $5.19 to just 15 cents.
Today the Ormeus Global internal exchange is gone and Barksdale has washed his hands of investor losses.
Buggs seems fine with this and likens Ormeus Global’s targeted pump and dump scheme to his bitcoin losses (Buggs claims to have bought bitcoin at $10,000 and $15,000).
What seems lost on Buggs is ORME being attached to an MLM opportunity, through which investors were promised riches (either directly or implied).
[9:19] I’m not here to defend John Barksdale for any mismanagement of expectations. I’m not here to defend him.
The commissions Buggs is talking about are paid out on recruitment of new Ormeus Global affiliates who’d invested.
[5:47] There are zero commissions that have not been paid.
There are people who purchased coins, who hoped that the coin price would go up, and they are disappointed.
This is the reason I eliminated that component from the company.
Compared to Ormeus Global affiliate investment losses, recruitment commissions are trivial.
Indeed, one can no longer invest in ORME through IQ Chain. Instead the company is focused on forex trading bot and cryptocurrency mining returns.
Despite pitching investors on IQ Chain’s $10,000 IQ Platinum offering, through which returns via a forex trading bot and crypto mining are marketed, Buggs concedes his knowledge of cryptocurrency is limited.
[12:33] Buggs: I didn’t make one dollar with bitcoin.
Olgun to Buggs: That’s why I said you are (a) little bit unexperienced [sic] about the crypto world.
Buggs: No it’s not about unexperience [sic]. It’s not about inexperience.
I knew nothing about coffee. I sold three billion dollars worth.
I still don’t know anything about coffee. It has nothing to do with that.
This is not about product this is about people.
No, you didn’t read that wrong. Holton Buggs just implied neither Organo Gold or IQ Chain as business opportunities have anything to do with products.
From here the conversation escalates, with Olgun asking Buggs whether ORME and IQ Chain are legal in the US.
To which Buggs replies; “IQ (Chain) is legal”.
Olgun counters by asking why then aren’t US residents able to sign up as investors through the IQ Chain website.
[13:25] Olgun: So it’s (IQ Chain) not legal yet.
Buggs: No, no. IQ (Chain) is legal. I decided not to allow registration until we got the bot completely registered.
The business model has been given a thumbs up by our attorneys.
Olgun: I know. So in the US we cannot make the business, right?
Buggs: In the USA you will be able to make the business. I have decided not to allow… to turn the USA on until next month, when the government finalizes registration for our IQ bot.
This is an important part of the conversation, so let’s break it down.
As I write this, the IQ Chain website is marketing passive returns through both a forex trading bot and cryptocurrency mining.
Both are securities and require IQ Chain to be registered with the SEC to operate legally in the US.
SEC registration will require IQ Chain to provide full disclosure of its trading bot and mining operations to both the SEC, the general public and their investors.
This is to ensure IQ Chain are actually generating returns via external revenue, and not recycling invested funds to meet ROI liabilities (either in part or in full).
As I write this, neither IQ Chain, Ormeus Global, John Barksdale or Holton Buggs are registered with the SEC.
Nor does IQ Chain provide legally required disclosures regarding their bot or mining opportunity.
Will this change by “next month”? I doubt it but we’ll have to wait and see.
In the meantime, and this is another key point, the US is not the only country that regulates securities.
In Turkey, for example, securities are regulated by the Capital Markets Board of Turkey.
In order to legally offer securities to Turkish residents, a company must register with the Capital Markets Board.
In accordance with Article 39 of the CMB, it is mandatory to obtain permission from the Board to ensure that the activities, activities and activities of investment services are carried out as commercial or professional activities.
Unlike with the SEC there doesn’t appear to be a publicly searchable database of companies that have registered with the Capital Markets Board.
That said, what’s the bet neither Ormeus Global, IQ Chain, John Barksdale or Holton Buggs are registered with the Capital Markets Board?
According to the CMB website, offenders caught violating Turkish securities law are subject to ‘two to five years imprisonment and five thousand days to ten thousand days of judicial fine(s)‘.
At the time of publication Alexa cite South Korea as the top source of traffic to the IQ Chain website (78%).
Securities in South Korea are regulated by the Financial Services Commission.
Anyone want to take bets on whether IQ Chain and its executives are registered with the FSC?
Likely sensing he’s lost his audience and won’t be selling any $10,000 IQ Chain investment packages, it is at this point Buggs turns on Olgun.
[14:08] OK let me ask you a question. Let’s get to what your point really is.
Let’s get to the point. Let’s not dance around, what’s your point?
In a perfect world Olgun would have reiterated the securities compliance issues with IQ Chain I’ve detailed above.
Seeing as Buggs was seemingly illegally pitching an investment opportunity within Turkey, asking about CMB registration would have been on point.
Unfortunately it’s easy to look back in hindsight.
[14:16] Olgun: My point is that… I just know that from the outside, I see that you are consultant of the company (IQ Chain).
Is that correct?
Olgun: So you are not the leader of the company. This is what I see from outside.
You are the consultant. You are giving advice to the company, right?
Olgun: The problem is that, in Turkey, this is the fiftieth OneCoin, which John was also involved (in). The second, Coinspace. The third…
Buggs interrupts Olgun to clarify Barksdale wasn’t involved in CoinSpace. He does however acknowledge Barksdale was a consultant for the OneCoin Ponzi scheme.
[15:22] Olgun: But this consultancy with OneCoin destroyed all the Europe direct-selling industry. You know this.
Buggs: Mmhmm (nods).
Olgun: Also in USA also, right?
Buggs: Correct (nods again).
Olgun: That’s why I am talking to you like I respect to you.
You can say to me… OK, because I am the guy translating your videos, watching your saying that Holton is good.
But now I feel very, very… I don’t understand how it’s possible (that) this company is in Turkey.
Olgun doesn’t mention anyone at the event table by name, but singles out “four to five” of them as having been involved in ten to fifteen prior cryptocurrency schemes.
[15:50] These guys, sitting there, I know them.
They’ve changed ten, fifteen crypto crypto crypto (companies), and all of them is make scam. All of them destroyed the market.
And now the Ormeus. Of course you say that John wasn’t bad idea, he made mistakes.
But Holton, from five dollars to fourteen cents. Even this is thirty times how much you invested in bitcoin. You said $10,000, $5000. OK, but 26% percent.
In Ormeus you say you need to put facts. I am talking the facts.
A lot of people, my friends, they joined Ormeus, a lot.
But what happened? He (Barksdale) now says Ormeus is finished. The network side (is finished).
So now let’s say this company… because of you (Buggs) I can think that. I can trust to you, because of what you made in thirty years.
But the only question, very simple: What exactly… I pay every month $99 right in IQ?
$99 every month and for I buy the package. Let’s say you said the last one, $10,000.
Olgun: So what I am buying? When I pay $10,000, what I am buying? The robot or what?
Buggs attempts to answer by going over the $99 IQ Chain subscription (supposedly for “training”), and for which an additional $10,000 includes four trading bot licenses.
“One to use, three to sell”.
Olgun backs Buggs into a corner by asking whether or not the training across IQ Chain’s investment tiers is the same.
What he’s getting at is diminishing IQ Chain’s training as pseudo-compliance, which it is.
Despite all IQ Chain affiliates receiving the same training for $99 a month, Buggs answers “No” to Olgun’s “is the training the same” question.
[18:16] Olgun: OK so the real product… for example in Organo what you are selling?
The coffee. The product is coffee, right?
Olgun: So here (in IQ Chain), the product is the training or the product is the robot. Which one?
Bugg’s answer to this is a brilliant non-answer.
Buggs: No. Both. This right here (points at $10,000 IQ Chain marketing on projector), is not Holton Buggs training.
This is not about Holton Buggs training.
This is crypto training, different financial training that’s in the ecosystem of the learning component.
This is followed by an awkward silence, during which Olgun (and the rest of the attendees) no doubt try to process Buggs’ answer.
[18:45] Olgun: OK learning. Learning of what? Learning of the crypto…
Likely realizing if he continued he’d be forced to concede he had no idea about the specifics of IQ Chain’s “learning”, Buggs interrupts and asks Olgun to approach him in private after his presentation.
Buggs states Olgun’s legitimate questions about IQ Chain’s unregistered securities offering are “unproductive”, a “waste of time” and full of “negative energy”.
As Olgun continues to challenge him, a furious Buggs marches down the center of the conference table and demands Olgun “leave the room, right now”.
[19:48] Don’t come in here, with these people in here, and cause issues like that.
Olgun refuses to leave and instead continues to challenge Buggs.
Buggs has all but shut down at this point, and stands there repeatedly asking Olgun to leave.
A defiant Olgun proclaims;
I am not leaving, what you will do?
I am not leaving. This is my country, this is my city, you know?
Buggs states he did not invite Olgun to the event and again asks him to leave.
Before he leaves, of his own accord, Olgun makes one last and very important observation.
[20:45] You are saying, “I am the consultant of the company”.
But you are now in Turkey, you are working like you are the leader of the company.
This is not a consultant(‘s role).
So if you want people to respect you, you need to be honest.
If you are the leader of the company, you can be very open (about it).
The Organo Gold. If you are the owner of Organo Gold, you can say very open, “Hey guys, I started this company. I am working with this company… and I am going everywhere and taking the people.”
But you shouldn’t be like, “I am the consultant but secretly I am making the meetings”.
That’s why I don’t respect you, and now I am leaving.
Buggs had no response and instead just thanked Olgun for leaving.
Whether any of the other attendees went on to sign up for IQ Chain’s $10,000 investment packages after the exchange is unclear.
Fortunately Olgun’s exchange with Buggs was recorded and has since been uploaded to YouTube:
(Ozedit: video unavailable, see update below)
In the description of the video, Olgun directs a final word towards Buggs;
Sorry Holton Buggs but you are doing a HUGE MISTAKE.
You will destroy all the industry and your name with this crypto shit scam.
At the time of publication Holton Buggs is Organo Gold’s long-standing Chief Visionary Officer.
Back around September it emerged Buggs had signed on as an “executive advisor” to Digital Skynet.
Digital Skynet, also believed to be owned by John Barksdale, exists as the parent company of Ormeus Global and IQ Chain.
As Enes Olgun points out, Buggs’ supposedly advisory role instead has him travelling around the world to pitch unregistered securities on IQ Chain’s behalf.
Update 30th March 2020 – Since publication of this article, the video referenced has been removed from YouTube due to a terms of service violation.
Screenshots featured in the article are preserved as evidence while the video was still available.