Introax securities fraud warning from Russia
Introax has received a securities fraud warning from the Russian authorities.
As per the Bank of Russia’s February 2nd warning, Introax exhibits “signs of a financial pyramid (scheme)”.
Introax solicits investment on the promise of daily returns of up to 5%.
BehindMLM reviewed Introax on January 25th. We found evidence of securities fraud and concluded Introax was a Ponzi scheme.
On January 31st Jharol Smith, a serial promoter of Ponzi schemes, announced Introax has stopped paying.
In his video Smith claims the Telegram used to coordinate Introax investment has also shut down.
Smith documents participation in fraudulent investment schemes on Bank of Jharol, with the aim of recruiting others under him.
Smith, a resident of Maryland in the US, is not registered with the SEC.
I’ve just been doing a bit of research on this YouTuber we have discovered that he has promoted over 200 different Ponzi schemes and scams below is a document we’ve put together.
Jharol Smith: Ponzi Scheme Promoter Behind “Bank of Jharol” YouTube Channel
Jharol Smith, widely recognized as the creator of the “Bank of Jharol” YouTube channel, has emerged as a central figure in promoting numerous Ponzi schemes and fraudulent investment opportunities.
His channel, positioned as a platform for “financial empowerment,” has been used to endorse schemes targeting unsuspecting investors with promises of high returns, leveraging complex jargon, and pseudo-legitimate structures.
Jharol’s involvement spans a staggering range of fraudulent platforms, covering cryptocurrency, trading bots, decentralized finance (DeFi), and multi-level marketing (MLM) schemes.
Comprehensive List of Ponzi Schemes Promoted
Below is a detailed enumeration of the 203 Ponzi schemes associated with Jharol Smith, showcasing the diversity and extent of his promotional activities:
Jharol Smith has been linked to promoting a staggering number of Ponzi schemes, including GetFit Mining/MoveQuest, EminiFX, Zermex Asset, Veneto Financial, Aurum, Ocotbits, Gerbi, HamsterBot, Aladdin Royal, Hamster Kombat, X Empire, Tether Miner, GladiaVerse, TLC Trading Al, MaxiBots, Tenstake, Skool, Polivera, 1 Simple Cycler, Lynqore, WC Traders Bot, Sigmachad, Asignat, X12, PegaPhoenix, Arbitrade, GAAF, AMC Global, GoldHive, Quantum 246, 12 Hourly Earn, Quant Guard, S h a o Bank, Svuex, Wizerpeople, CryptoPush, Mobility Share, 101 Money Maker, At Cost Metals, AKA07, Profit365, F u n d s z, Bryte Life, Artmind, Liquidix, Aurabit, Go Bingo For Hunger, Trade Like Crazy, Seletti, Quopi, Tethex, Defi Synergy, Exby, Tradixis, Super Z, Aladdin Bot, Money-Flow, GS Partners, Ton Booster, Nexus Rewards, EchoOne, Quantum Club, Cryptoption, Mavie Global, Daisy, Harbor Solar, NovaLink, 202020 Fund, Crown 127, FXChain, Arbitrage Stack, Core 4 Mastermind Event, MyDHLife, ETF Pool, Roosevelt Assets, Tron Treasury, Lucky Ape, Global Aid Club, Arbitrage King, Metogence, Vortic United, Voggex, Verse Network, Fintoch/SCF, Camhirst, Capitalium, GP Bots, Invesable Al, Liquidity Farm, Hilton Meta FX, Live Good, CloudFi, VidiLook, Poradex, CoinMarketBull, NovaTechFX, Maxpread, TafaBot, Stable DAO, Validus, Fusion Xperience, Bonanza, Mainet, Absolute Markets, G.O.A.T. FX (Coinexx), MayoTrade, Hedgefund Al, Lokey’s World, Trillant, Metaverse Wealth Academy, Elevate Pass, Polinur, Recompense, Pegasus, Swapnex, MetaFi Yielders, AplexTrade, Mint Money, COTPS, HyperOne, Attiora, Mido Finance, Intelligence Prime Capital, PayMoney, SmartSwaps, Troy Investor, White Ox, Bitxy Bot, Grenam, So Buy, Furious 10, Kript Zone, Ventouro, Enhance Network, BitLexa, Linerbit, Borton, Hibatch, Star Atlas, Color Our World, Bitslop, Bregox, Argotrix, Canotek, FX Future, Blazer 7, Fastcoins, Introax, TrigerBit, Lite Bonds, Futures Trade, LeoBits, Profitway, Cronerbit, Fast 10, Girali, Zetbull, LTC-Elite, Bitvee, Lily Finance, Geniex, Finabit, HyperFund, Prime-Olive, Pharmacle, Finasso, BitPlam, Kripto Future, Arising Trade, RS Group, Evolve Bet, Gasilo Biz, Orion Finance, OmegaBit, Bit Lana, Profit Empire, Pays4Ever, IFCI Limited, Cloner, Ex-Funds, Mi-Trade, Coynex, Tazobit, Reliance Funds, Atom X, Tradeporte, Yelzon, Co-op 5050, Wintakers, AutoBTC Builder, BitBoom, Bullmafo, Startos Top, Bit Income, Bitxtra, Zolibit, Toucan Cash, Bitneo, Crypto Stair, QubitLife, Watermine, Top Gular, and Cavallium LTD.
Modus Operandi
Jharol Smith’s strategy involves leveraging his online presence to build trust among his audience. His promotional content is tailored to create a sense of urgency, often emphasizing early adoption to maximize returns.
By blending technical jargon with seemingly transparent presentations, he appeals to those with limited financial literacy who are eager to invest in the next “big opportunity.”
Impact
The schemes Jharol promotes have collectively defrauded thousands of investors worldwide, resulting in financial losses amounting to millions.
Despite his recurring involvement, his activities continue to thrive due to insufficient regulatory oversight and his ability to rebrand and pivot to new schemes.
Call to Action
It is crucial for potential investors to conduct due diligence before engaging with platforms promoted by influencers like Jharol Smith.
Regulatory agencies and online platforms hosting such content should enforce stricter measures to curb the proliferation of these schemes.