Nugen Universe’s Nugen Coin Ponzi scheme collapses
Nugen Universe’s Nugen Coin Ponzi scheme has collapsed.
Investors report that throughout 2022 they were discouraged from cashing out their Nugen Coins.
Withdrawal functionality was disabled in late 2022, with a string of promised deadlines having come and gone.
The latest deadline Nugen Universe missed was January 13th.
Purportedly Nugen Universe investors were to be able to exchange Nugen Coin for a 133% ROI, paid in ethereum, by the 13th.
There have been no corporate updates since Fazil M. Jabar made the last announcement on January 2nd.
IMPORTANT ANNOUNCEMENT TO ALL NUGEN TOKEN HOLDERS
1. The Nugen Token is currently valued at $1.00 on the Defi Oracle network.
2. This network is presently offering to pay 133% profit on this price for NUGEN tokens. Tokens will be swapped for Ethereum (ETH) on the new NUGEN Mainnet Blockchain until January 13th, 2023.
3. Members are advised to accept this cash / ETH offering, and should take advantage of this opportunity during the prescribed time period of January 13th.
Affiliate investors demanding answers are being told by Nugen Universe to keep checking for updates.
Nugen Universe’s collapse follows a Nugen Coin securities fraud warning from British Columbia (Canada) last August.
BC’s fraud warning was preceded by Nugen Universe demanding affiliates hide evidence of securities fraud.
Update 7th September 2023 – The Nugen Universe and Nugen Coin websites have now been pulled offline.
Update 26th October 2023 – Nugen Universe’s website is back online. Fazil Jabar appears to be trying to reboot the Ponzi scheme as Britto Capital.
I tried to report this company to File a Complaint on Better Business Bureau and I am out of luck. We will never get our money back.
Probably not. But it doesn’t hurt to file a complaint.
As opposed to the BBB, who aren’t a regulatory body, you’re better off filing a complaint with the SEC.
No answers…no working number- no website! Made several hundred dollars.
To all the naysayers, I got my 15.5 ETH today from my less than $350 investment. Current value? Over $29,000.
Sounds like you got in early and stole from a bunch of people. Here’s a cookie I guess?
Sorry for your victim’s losses.
It’s 6:38 a.m. central time as I write this. The Defi-Oracle site is down and states and state errors have occurred.
A few of my family members managed to get through the steps before it went down. They then tried each to cash $5.00 in coins through their coinbase account.
Coinbase stated that the hash in the address was incorrect.
Coinbase also stated they are starting an investigation into this because it looks like a hash in the address was either mistakenly done incorrectly or on purpose to commit fraud. So we shall have answers soon.
I visited Nugencoin.com and got this red screen warning. I wish I could post it but can’t see how to here.
To read the small print: Potential threats on (Ozedit: NugenCoin login link removed) include:
Fake versions of MetaMask
Secret Recovery Phrase or password theft
Malicious transactions resulting in stolen assets
Advisory provided by Ethereum Phishing Detector and PhishFort.
Fazil made everyone agree to take down all bad comments and made them agree to never say anything bad online ever. He made meta mask wallets for everyone but won’t give anyone the keys to get into Their wallets.
There is no set date that we can expect to get the keys. All we got was what seems to be a address payments can be sent to.
Fazil made everyone agree to a hold harmless and waive all legal and non legal rights and claims to nugen coins.
Nugen coin currently has zero coins in circulation and was taken off of the LBank.com website.
What can we do? This is scary!!
Practically speaking there isn’t anything you can do about your money, it’s gone. This is how Ponzi schemes work.
Now that you’ve accepted that, your best bet is filing a complaint with the SEC and possibly your state financial regulator.
if you gave your keys to someone else, or they created them for you, they are no longer yours
Fazil Jabar, Candice Torres and all at NUGEN needs to go to jail for stealing out money.
When confronted with fazil giving money to Candice to buy car she claimed it’s a loan.
We didn’t give out money for him to gives out to his female friends.
Mr Jabar has not defrauded anyone. He did everything he said he would do.
The coin went on the exchange, the price climbed up and then all the MLM Idiots sold their coind driving the price down.
Mr Jabar has offered to buy our coins back at a HECK of a nice profit which he was not obligated to do.
You cry baby liars don’t know what the H… you are talking about. STOP spreading your lies and pay attention to what this honorable man is doing!
Running a Ponzi scheme is fraud. Through running the Nugen Coin Ponzi scheme, Jabar has committed wire and securities fraud in violation of US law.
Fazil Jabar is the next Bernie Madoff he took our investment money and defrauded us.
He give our money to his customer service rep Candice Torres who scammed him and she bought her 2 card and 2 houses with investors money. Fazil we see you.
Breaking news:
FAZIL JABAR/ CANDICE TORRES ARE YOU ON THE RUN? NUGEN website was removed today.
Thanks for the update. Can confirm both Nugen Universe’s and Nugen Coin’s websites have been pulled.
All NUGEN sites were removed as of yesterday, look for yourself and today all a sudden no customer service.
Fazil Jabar, Candice Torres what’s going on with our money? Phones lines down for the past two days.
Fazil post today, it basically states the company that’s holding our money for Fazil no longer works for Fazil Jabar. NO SHOCK HERE U A SCAM FAZIL U NEED TO BE IMMEDIATELY ARRESTED
“Government roles” and madeup companies lol. Standard crypto exit-scam bullshit. It’s all lies.
Ponzi go boom. Now it’s “feed investors porky pies” to waste as much time as possible.
I had 50,000 nugencoins disappeared.
My brother in law died, and had over 200k in coins that disappeared from dashboard.
About a month ago I spoke to MetaMask and this is what they said:
They are currently developing this bridge from Twitter replies we have seen online.
It’s all bullshit unless someone has actual proof.
“Owned by a government entity” could just be “we sucked off some Sheik in Dubai for a certificate lulz”.
Not withstanding none of this matters. Nugen Universe and Nugen Coin were a Ponzi scheme. Nothing changes that.
Funnily enough, as soon as I’d read the reply from MetaMask , I took no further notice as it was obvious that what was going on was too good to be true.
Besides, if crypto has been put into a different network and there is no way without a bridge that you can transfer your ‘coins’ then you won’t get paid anyway.
Happy to be proved wrong but my gut feeling is that I won’t.
What’s weird is that the message that NUGEN sent saying we will be paid on September 20th 2023 It’s all a scheme, they didn’t officially send that message to investors via email nor is it posted on NUGEN official website.
It was posted in the NUGEN telegram chat by “ Aayush Mahant” on behalf of Fazil Jabar. Fazil Jabar and Candice Torres is having people do their dirty work.
Well, glad I don’t have a lot in this as I was wise enough not to. Sad thing is got my wife, son, and daughter in it.
Sept. 20th is less then 2 hours away. Want to bet nothing will happen?
We have clearly been scammed by Fazil Jabar, Candice Torres and NUGEN LLc. FAZIL RETURN OUR MONEY.
EVERYONE CONTACT THE SEC
CONTACT THE FBI
CONTACT THE DISTRICT ATTORNEY OFFICE
CONTACT CNN
MOST IMPORTANTLY WRITE TO FAZIL AND NUGEN AND TELL THEM RETURN YOUR MONEY, PRESERVE YOUR LEGAL RIGHTS REQUEST THE RETURN OF YOUR MONEY.
WELP September 20th 2023 date came and left the date fazil claimed he would pay investors back.
YOU SCAMS FAZIL JABAR, CANDICE TORRES, WILLIAM HELMS (the so called lawyer for NUGEN LLc), BIBI LARSON, KHAN AND AFFILIATES.
RETURN OUR MONEY.
Now a day later NUGEN is claiming funds will be released as soon as some Quantum Financial System is publicly available.
I say this is a bunch of dog do do. Horse and pony show.
Like giving us a “wish sandwich” you get two pieces of bread, and “wish” there was some meat in between. Only thing in between, is a pipe dream.
Is Fazil sill a free man? If he is he probably did nothing wrong ! Wow
Yeah that’s not how the justice system works.
Fazil Jabar needs to be arrested and will be soon, once all these investors fully come to the realization THEY WILL NEVER BE GETTING BACK THE MILLIONS. Fazil Jabar, Candice Torres and their accomplices scammed them.
When that day comes…
Why are some people so positive and hopeful having faith on all this?
The guy that got me into it still believes this is going to pan out. Very positive person, but I think has been duped.
SMH is all I can say at this point.
Fazil’s new company is Britto Capital, LLC. I hope investors will do their due diligence before investing in Britto Coins. Same thing will happen.
Too bad SEC is not involved with this like it is for SBF case. Maybe they will catch up after SBF is in jail for a long time.
Is Britto Capital actually a thing?
I can see there’s a Britto Financial Services shell company in the UK with a Britto Coin. But nothing specifically on Britto Capital to follow up on.
The NuGen websites have been converted to Britto websites. More money to take in for those not familiar with NuGen.
bizapedia.com/fl/britto-capital-llc.html
nugenuniverse.com/
Click on the different icons and you will see.
realtycoin.brittocapital.com/administrator/login
This is when you click on the NuGen Realty.
Google Britto Capital LLC, and you will find info on the company. Very new. Perhaps another scam company. Buyer beware!
This is what I found about the scam artist:
suite.endole.co.uk/insight/company/14538261-britto-overseas-holdings-ltd?page=overview
Britto Overseas Holdings Ltd
128 City Road, London, EC1V 2NX
Britto Overseas Holdings Ltd is an active company incorporated on 13 December 2022 with the registered office located in London, Greater London. Britto Overseas Holdings Ltd has been running for 10 months. There are currently 3 active directors according to the latest confirmation statement submitted on 13th December 2022.
Mr Fazil M Jabar
Canadian • Director • Company Director • Born in Jul 1957
Mrs Christine Jabar
Canadian • Director • Company Director • Born in Jun 1958
Mrs Mariel Torres
Filipino • Director • Company Director • Born in Mar 1986
I think for this new company Candice Torres his scam companion is going by the name Mariel Torres.
I’m so disappointed in Mr fazil Jabar and Candice Torres and the right thing for them to do is come forward and make all the wrong right or at least give back all the investor their money back and that includes me.
I have over three hundred thousand four hundred coins…
Giving investors their money back isn’t how Ponzi schemes work. Also the coins you have are worthless, at least accept that much.
Just report them to your local security office. I reported them to the BCSC when I was offered coins for a sure fire return on my money.
Sick of scammers so if you can report a business or individual I recommend you do.
I shut down another scam where over 300,000 was stolen, heart breaking to hear an elderly woman describe how she trusted 115,000 of her hard earned savings that will never be coming back even though the OSC levelled a 1,000,000 fine on these clowns.
So if you don’t do it for yourself do it for the vulnerable around you.
He needs to be prosecuted at every extent of the law.
This is not good at all I hope that one day they will look into there dishonest shelves and change there nasty bad habit and do better.
Nugen finally shut down all communication.last week before Christmas.
I pushed their buttons so hard on the phone the lady I was speaking to hung up. Only scammers run when you do that.
Fazel Jabar and Candess should diffentaly go to jail.
I’m sure if the right agencies look in the right places there are some assets the can be found and seized. Maybe get some if our losses back. Nothing but scammer’s.
so thats that what a friggen butthole (theres alot of other words im thinking of just keepin it g rated).
yup that sob fazillo bastad will hopefully get what he has co ming KARMA here girl gots someone to sick you on.
how can someone live with theirselves that takes somebodys emotions and spirits way up to the clouds then shits on their dreams and splats them to the ground.
i was skeptible the whole time but i really wanted to take the wifey and kiddos on vacation. see the world a bit while theres a little of it left.
well fazil watch yo back cause BigK is on the loose.
Nugen is Officially Done now
D.O.N.E
I hope they get caught and brought to justice
Have everyone heard the latest news about Fazil?
That he died? Someone emailed that in, I asked for proof and never heard anything further.
No paperwork how convenient. I think it’s a hoax he came up with, to defraud investors. When you call the office lines they are also claiming that.
If there’s nothing official you can point to it’s best to remain cautious. Plenty of scammers have exit-scammed by disappearing.
I have been informed that Fazil Jabar has died a few weeks ago. The news is true. If there was any hope on a lawsuit on getting funds back, that hope is gone.
Scammers have a frequent bad habit of unconfirmed death.
We need more proof of stupid scammer jabar death.
looking to celebrat his death because he is in HELL.
the CEO of nugen is a scammer.
They need to come clean, and tell us about our coins, we are cannot leave like that.
You invested into an obvious Ponzi scheme. Said Ponzi collapsed and your Ponzi coins are worthless.
Pretty straight forward why the Ponzi scammers behind said Ponzi scheme don’t want to come clean about that.
Apparently Fazil died and nobody has heard anything else, so my best quess is he has gotten a new face and a new identity to go with all our money.
everything is shut down except the phone keeps putting you on hold and that has been going on over a month now.
All I can say is I am glad I didn’t have anymore the less then $200 in this POS. I almost invested another $1400 or so, but it is safely snugged away in bank.
If a CEO of an investment company died, it would be all over the news. I have been searching news channels and Google and haven’t seen any news of Jabar dying.
I think Jabar fake his death and using a different name to defraud people again.
Nugen Universe was a small scam all things considered. Outside of those he stole from, Jabar was a nobody.
In other words, Jabar’s death, faked or not, is unlikely to have been covered by larger news outlets. Hell we didn’t even bother running the story.