Following non-payment of withdrawals and an effective collapse, PGI Global has made an announcement suggesting they’ll be exit-scamming through Kala.

That’s the same Kala shitcoin Nui launched three years ago.

From what I can tell PGI Global informed affiliates they’d be getting Kala wallets about a month ago.

This roughly coincides with when withdrawals slowed and/or stopped altogether.

Adopting KALA makes sense for one and one reason only; PGI Global at some point intends to pay out withdrawals in Kala.

What would that mean for PGI Global investors?

KALA surfaced in late 2017 as part of the Nui Ponzi scheme. In hindsight, Kala was Nui’s exit-scam.

Nui/Symatri will pay affiliates in Kala, and that can then be used on an internal e-commerce platform.

Kala was flogged to Nui affiliates for 1 to 5 cents a piece. Despite being created in-house, Nui affiliates were also able to “mine” Kala through Mintage Mining.

Nui went so far as to claim Kala, which neither it or Nui was registered as a securities offering, was “protected from the SEC“.

That lie was exposed in July 2018, when the Texas Securities Board issued Nui and Mintage Mining a securities fraud cease and desist.

In September 2019 Montana’s CSI also filed a securities fraud cease and desist. Michigan followed suit in April.

The state of Utah piled on around the same time, issuing Nui owner Darren Olayan with a $595,000 securities fraud fine in March 2020.

By this stage the writing was on the wall. Olayan fled the US and continued to defraud investors through Nui International.

Nui International appears to have since collapsed. Attempts to visit the company’s website returned a “404 not found” HTTP error.

So where does this leave PGI Global investors?

You’re being funneled into a collapsed Ponzi scheme.

Nui executives and affiliates are sitting on a boatload of worthless Kala they can’t do anything with.

By integrating Kala into PGI Global, they gain access to a new market of bagholders to sell their Kala too.

PGI Global is already busy hyping Kala through their social media channels.

At some point PGI Global affiliates will be able to purchase Kala, on the representation of future value.

That’s of course nonsense (see the last 2 years of Kala), but the hype will allow Nui executives, affiliates and PGI Global itself to offload Kala.

When the dust settles money will have transferred from PGI Global affiliates to Nui and PGI Global executives; namely Darren Olayan and Ramil Ventura Palafox.

Nui bagholders will be holding a little less worthless Kala. PGI Global affiliates will become the new primary bagholders.

Then, if it hasn’t been executed already, comes the exit-scam.

Here’s a transcript of how that’ll go down:

PGI Global Affiliates: WHERE’S OUR MONEY?

PGI Global: Oh hi there, have you checked out our new Kala wallet?

PGI Global Affiliates: WHERE’S OUR MONEY?

PGI Global: Relax chums, you can now sign up for Kala wallets.

PGI Global Affiliates: WHERE’S OUR MONEY?

PGI Global: Good news everyone! We’ll only be paying out in KALA going forward. Existing investment balances will also be converted into Kala.

PGI Global Affiliates: WHERE’S OUR MONEY?

PGI Global: What do you mean? We gave you highly valuable Kala tokens!

What’s that? You can’t find anyone to sell them too?

NOT OUR PROBLEM BITCHES! *cue disappearing act*

How long this will take to play out is anyone’s guess. Nui aren’t known for their competence and RV Palafox is a serial scammer running his first-time Ponzi from the helm.

Palafox is believed to be based out of the Philippines. Kala is run by Appliqate, a company based out of the US (at least on paper, seeing as Darren Olayan remains in hiding).

Neither PGI Global, Kala or Nui are registered to offer securities in the Philippines or the US.

Appliqate is registered with the SEC but doesn’t report its fraudulent investment dealings.

Based on Alexa’s analysis of its website traffic, the majority of PGI Global investors are in the US (44% of traffic), followed by Peru (14%) and Nigeria (8%).

 

Update 30th June 2021 – After pulling its website 48 hours ago, PGI Global’s exit-scam is now complete.

 

Update 5th September 2021 – PGI Global has rebooted with top earner Helen Graham running the company as CEO.