OneCoin scammers to launch Circle of Finance (Invicta)
Following their departure from OneCoin, Veselina Valkova and Habib Zahid are gearing up to launch a clone of their own.
Details on Circle of Finance (aka Invicta) are currently sketchy, but here’s what we know.
Details of Circle of Finance and Invicta first surfaced last November.
The company, the specific name of which we’re not sure of yet, is purportedly incorporated as TradeInvicta in Estonia.
Not that that means anything, as it’s a shell company registration that exists in name only.
TradeInvicta was set up by Heaven Invest, who offer all-inclusive company formation in Estonia starting at €1800 EUR.
The owners of TradeInvicta are Veselina Valkova and Habib Zahid.
Habib Zahid is a former top OneCoin Ponzi recruiter. Veselina Valkova is a much more murky figure.
Valkova (right) is believed to be among Ruja Ignatova’s OneCoin inner circle. She is believed to be one of the key figures behind OneCoin’s operation, especially after Ignatova went into hiding in October 2017.
Valkova prefers to operate scams from the shadows. You won’t find her on social media or on stage at marketing events.
Update 1st February 2020 – I’ve been informed Valkova wasn’t part of Ruja’s inner-circle. She worked for OneCoin corporate but wasn’t part of “senior management”.
This places her not much up the OneCoin food chain over Zahid. /end update
Since last November things have been quietly brewing. We’ve been holding off publishing anything till I felt this was more than another failed OneCoin resurrection.
At the time of publication we’re not sure whether Valkova’s and Zahid’s scheme will go by Invicta or Circle of Finance. At present both are being used interchangeably.
OneCoin had a boat load of shell companies attached to it, and Valkova appears to want to replicate that structure.
For the sake of simplicity we’ll go with Circle of Finance.
Twelve hours ago a video was published to the official Circle of Finance YouTube channel.
It’s mostly stock footage with a hired voiceover, but there are some nuggets.
At [0:26] we can see Circle of Finance encompasses forex, network marketing, e-commerce, payment processing and exchange & remittances.
These are all rehashed OneCoin ideas, with the exception of exchange & remittances.
The reason OneCoin never initiated a public exchange is because it would have prematurely killed off the Ponzi scheme.
The same is true of Circle of Finance, so treat it as nothing more than a marketing point for now.
It’s no secret anyone still left in OneCoin isn’t the brightest. Many of these investors have convinced themselves the launch of an exchange will magically allow them to recoup their losses.
Circle of Finance primarily targets these OneCoin investors. It’s the only reason an exchange is mentioned at all.
A public exchange takes some control outside of Valkova’s hands. Her time running OneCoin would have taught here it’s much easier to run a scam when you control everything, down to who pays what to who and when.
As for forex, that appears to be the ruse Circle of Finance plans to use to solicit investment.
Pretty standard for an MLM crypto Ponzi scheme.
Standing by to funnel victims into Circle of Finance are admins of one of the largest OneCoin Facebook groups.
Boasting 26,388 members, the group “ONECOIN EXCHANGE/UPDATES OFFICIAL CHANNEL” was renamed “Circle of Finance” on January 24th.
Admins of the group include creator Habib Abdul Rehman (aka Habib Ur Rehman Zahid), Daniel Pérez Faustinelli, Faualii Sina Apineru, Damien Barnes, Quini Amores, Arto Ylitalo, Yourmos Pob, Dusan Torbica and Peter Hjelte.
Things haven’t quite taken off yet, as there’s only been three posts made to the group over the last thirty days.
If Zahid and Valkova manage to get Circle of Finance and Invicta off the ground, we’ll of course publish a full review to keep authorities and the public informed.
Pending the release of further information, stay tuned…
Update 1st Februar 2020 – Well that didn’t last long. As of January 29th TradeInvicta in Estonia is no more.
That doesn’t mean Zahid and Valkova aren’t going to launch Circle of Finance and Invicta, just that we’re spared from “but what about the Estonia license?” pseudo-compliance.