Unitsky String Technologies continues to lie about Skyway Ponzi
Unitsky String Technologies continues to lie about its Skyway Capital Ponzi scheme.
The latest update appears to leave existing investors in limbo, while new investors continue to be recruited.
The overall status of the Skyway Capital is difficult to determine. The Ponzi scheme completely died in the west when its attempt to get in on crypto scamming collapsed in mid 2020.
This culminated in Unitsky String Technologies in December 2021, an attempt by Skyway Capital to distancing itself from itself
Now, in an August 17th Unitsky String Technologies update, the company represents it is done Ponzi scamming.
Moving away from association with investment activity
The main part of the investment channeled to develop Unitsky Group of Companies and UST Inc. engineering company (including demonstration and certification centers with test tracks in Belarus and the UAE, scientific and technological laboratories and production shops), was raised using the crowd-investing scheme.
Investment was carried out through independent foreign funds, a networks of business angels and enthusiasts not affiliated with UST Inc., who worked within the framework of partner investment programs offered by the funds.
However, crowd-investing has also led to some side effects related to the fact that in many countries there is no clear legal framework for it. It is regarded there as an investment mechanism with increased risks.
In this regard, the financial regulators of some countries issued warnings about the possible danger of investing.
To be clear, there’s nothing ambiguous about securities fraud. Calling a Ponzi scheme “crowdfunding” doesn’t change what it is.
And to that end, after its crypto collapse, Skyway Capital received securities fraud warnings from New Zealand, the UK and Spain.
Although such a warning does not indicate the dishonesty of the activities of the mentioned companies (Ozedit: it absolutely does), however, a shadow was cast on the SkyWay brand and the interests of the string transport developer, UST Inc., were affected, which until 2020 also used the SkyWay brand in its advertising materials and in the company name in English.
Having carried out the rebranding, UST Inc. emphasized its legal, financial and operational detachment from former or current funds, which use the SkyWay brand.
The logo and corporate identity elements were changed, the correct translation of the company name from Russian into English was made.
This is of course baloney. No better emphasized than Unitsky String Technologies’ latest update being featured on Skyway Capital’s website:
Not really surprising. Skyway Capital has been pretending its Ponzi scheme has nothing to do with Skyway for years.
The rest of Unitsky String Technologies’ update is Photoshopped images of vehicles that don’t exist as represented. Which begs the question, what’s the business model then?
The answer is of course nothing has changed. Skyway Capital is still soliciting investment from gullible investors, which is funnelled into Unitsky String Technologies.
As part of efforts to bury the Skyway Capital Ponzi brand, Skyway Capital began calling itself Sky World Community.
The Skyway Capital website is still the same. And there you can find the latest efforts to defraud investors.
Till 31.08.22, you can still invest at the discount of 1:90 and get a hologram with your photo at the String Transport Museum in Belarus. The investment conditions are the same:
– with the monthly installment payment of $500 for 10 months;
– as a lump sum of $5000.
Whether Unitsky String Technologies’ Ponzi marketing takes off in Turkey remains to be seen.
SimilarWeb currently ranks top sources of traffic to Sky World Community’s website as Russia (36%), Uzbekistan (26%), Cote D’Ivoire (6%) and the Philippines (5%).
Overall traffic to Sky World Community’s website is relatively stagnant.
A few months ago Unitsky String Technologies tried to get back into crypto Ponzi scamming through Cryptadium.
There’s not much happening there. Cryptadium’s Official FaceBook group has 4 members.
I wonder how much Yunitsky and his henchman have banked over the years.
Keeping Russian authorities quiet for so long can’t have been cheap.
I don’t understand how this company can exist if the fraud charges are true.
Is the technology real or computer generated images? Do the research facilities and demonstration tracks exist in UAE and Russia?
Skyway Capital or any of the half dozen other names it goes by collapsed ages ago. They’re trying to resurrect the same government cooperation ploy, this time in Indonesia.
The only prototype I’m aware of was in some paddock in Belarus. It was a joke. Outside of that Skyway Capital’s train only exists in CGI.
edit: there was also a non-moving demo on a sand dune in Dubai at some point.
In the emirate of Sharjah(UAE) they have a slow track running that reaches an average speed of 13 km/h over a distance of 400 meters. Of course that’s not high speed as they claim.
Recently they showing a lot of “talks” with some authoritys in different countrys. Let’s hope they find at least one fool (best in Russia or UAE) who signs a contract. Than chances are good that Unitsky get soon be jailed.
Let’s see what the newest test-track in Sharjah brings. They still claiming it can run one of these pods at 150 km/h and get powered by the string direct instead of using batterys.
If they can do that, than the show will full throttle into the next round.
Side note: Khovratov has his first anniversary behind Russian bars. Unitsky himself is hiding since in UAE, stopped all traveling.
Sky Way (and the whole bunch of the companies in the group acting under different names) performs a hybrid marketing: both a low cost internet marketing (y’know, you can hype anything you want for those brain dead multilevel activists) with press releases published elsewhere… and a (physical) prototypes presentations, which may be interesting and persuading for naive investors and/or first impression (y’know…: “…but they have the results and the products!”.
The second part is not usual for low cost scams – development and physical presentation of the prototypes consumes a great part of an ill gotten funding.
Physical prototypes include couple of models of gondolas (moved around and used at various exhibitions – e.g. Innotrans). Now one “hi tech gondola” is parked at “guest house” – SW visitor centre in Sharjah.
Moreover there are the test tracks in Sharjah (UAE) and Maryina Gorka (Belarus). Overall length of the test tracks is less than 10 kms.
Some very slow and lazy development (due to the restricted and slowed inflow of funds?) can be seen in Sharjah:
First 400 m long track allowing the move of the gondola for 4 passengers in maximum speed below 50 km/h and slow down on each of 2 pylons was finished in late 2019.
Construction works on other two track 2.4 km long was promised. Firstly announced to be completed by mid 2020.
source: bit.ly/411uRPB (Railway Technology)
But actually, summer 2020 was a start of construction phase.
In this interview, SW announced opening of 2 km long track on May 2021.
source: bit.ly/3GlkNJn (Interesting Engineering)
By the way – they also promised that 130 km long freight track from Sharjah to Khor Fakkan port could be operational to transport freight within three years (e.g. within 2023).
So the milestones were shifted again…: the first longer test track shall be done by November 2021 (to catch the start of EXPO 2020, which took place in Dubai during 1st October 2021 to 31th March 2022), with plans to eventually construct an unspecified permanent commercial line open as early as September 2023.
This deadline for the test track was completely missed. 😉 And I am pretty sure there will be no commercial track in September 2023.
source: bit.ly/3vtRHiN (khaleejtimes.com)
So the plans were changed again.
The two 2.4 km tracks were promised to be completed by autumn 2022 and the first track under the test by the end of 2022.
source: youtu.be/IUiRLOvCkqo?t=675 (YouTube, Yunitsky channel).
Reality? First 2.4 km track is about to be completed now (April 2023), the second track has only pylons erected (no track structure).
Of course, nobody have seen high capacity and hi-speed transport yet.
Note: bit.ly links highlight the important sections of newspaper articles (public relation press releases).