Michael Faust’s Project Lantern Ponzi collapses
Michael Faust’s “secret” Project Lantern Ponzi scheme has collapsed.
Withdrawals have been disabled due to “significant losses”.
In a backoffice update dated February 5th, the “Project Lantern Team” wrote;
We have recently experienced a season of extreme volatility in the financial and cryptocurrency markets.
Unfortunately the recent aggressive quick downwards movements in the crypto market have seen Project Lantern sustain some significant losses, and resulted in a downward adjustment to the overall value of the trading portion of the portfolio holdings.
Due to the loss … the right choice to protect participants is to formally suspend … interest payments, commission payments (and) withdrawals … until such time as the … financial losses can be recovered.
Accordingly … this is your official notice that the above functions are hereby immediately suspended for three months, during which time a detailed review will be conducted, and the best path forward will be determined and announced.
The “Project Lantern Team” is believed to be Faust himself. Faust ran Project Lantern with the assistance of Chris Thomson and Azli Noor, but both appear to be comparative nobodies.
BehindMLM reviewed Project Lantern in April 2021. We found a bitcoin Ponzi scheme pitching a 6.5% monthly return.
Being a simple Ponzi scheme run by a serial Ponzi scammer, the actual reason Project Lantern collapsed is because traffic to its website is dead.
No new investment = nothing to steal.
For his part, Faust seems to have moved on.
Faust rang in 2022 by announcing he was “letting go of people” and “going to stop having difficult conversations”.
“Where’s my money?” is certainly a difficult conversation for a Ponzi scammer. Ignoring people who see you stealing their money as a problem is a bit rough though.
Project Lantern’s collapse follows Faust spending an undisclosed amount on “hospital stays and surgery” throughout Q4 2021.
The number of Project Lantern victims and total investor losses are unknown.
Update 23rd February 2022 – Following the collapse of his Project Lantern Ponzi, Michael Faust is now promoting Hyperverse.
Hyperverse is a reboot of the collapsed HyperFund Ponzi scheme.
And as simple as that, the scammer Faust walks away with more victims money… AGAIN.
Article updated to note Michael Faust now promoting Hyperverse.
Michael Faust is a serial and career promoter of ponzi scams and needs to be stopped by the police!
He is still at it today, and never taking responsibility for all the lives he ruined.
Michael Faust doesn’t have to be stopped anymore. He retired from the „industry“. That’s what he posted in his Daisy telegram channel:
Why is Feb 6 such a monumental date in my life journey.
It marks 35 years involvement in the network marketing industry!
It also marks the day I step back from network marketing being center stage in my life. I love the industry, have gained so much, have given so much of my life to the industry, but it’s time to pivot in a new direction.
On Feb 9 I turn 62 years of age and I am ready to move into the next chapter of my life.
It’s been an incredible 35 years that provided the opportunity to travel all over the world, build communities into more than 150 countries, go from a stutterer who struggled to say his name to someone whose spoke on stage in front of audiences of 10,000+ people around the world also conducting thousands of zooms.
I experienced incredible personal growth, learned so many skills, achieved leadership ranks in almost every opportunity, and lived a level of freedom few enjoy.
It wasn’t without challenges. I also experienced the worst of human nature, enduring many failures, financial loss, and the wrath of critics. However, all that just made me more determined, more resilient, stronger, more empathetic, and knowing I have what it takes to overcome any obstacle.
I want to thank everyone whose played a role in enabling me to become who I am today, the coaches and mentors, the trainers, the authors, the leaders, the communities I helped create, and my family.
Most of all a BIG thank you to all the people that participated in the projects I promoted, or managed, or owned. Your trust and faith in me, loyalty, commitment, and contribution mean the world to me. I know it has been a roller coaster ride at times, with many ups and downs, so thank you.
Without you I could not have experienced this incredible journey. I wish you all of life’s blessings and hope that your time with me has helped prepare you for ongoing success and made a positive impact in your life.
The path forward…
I’ve been an entrepreneur since the age of 22 (40 years in total), always creating, expanding, building, adding value, being busy. I did a lot of soul searching and evaluation of how I wanted to spend the 3rd trimester of my life. What would be fulfilling, in alignment with my purpose and mission in life.
It’s not all crystal clear yet but I know it’s time for a new chapter. I’ve been preparing myself mentally and emotionally for this day for a while now. I am at peace with the decision.
What lies ahead? Many things will remain the same.
Quality time with my wife, family and friends.
A focus on my health and fitness.
Working on becoming the best version of me.
More travel exploring the world.
What will be different?
First taking a few months to pause, reflect on the journey to date, and take time to simply ponder, meditate, deliberate, think about what I truly want from the future, what I want to be remembered for.
What I do know is I am entering this next chapter of life with no regrets from the past, that I am comfortable in my own skin, and I like the person I’ve become.
I think that is a good place to start this new chapter of life!
Michael Faust has been one of the top leaders promoting the career criminal and scammer Jeremy Roma and Daisy organisation, and he has now apparently “retired” in a desperate attempt to avoid being arrested and imprisoned for all the money he has stolen and all the lives he has destroyed!