The Berlin Group collapses, Laurie Suarez touts Ugandan reboot?
The Berlin Group launched on the promise of a 168% ROI every 60 days.
ROI revenue was claimed to be generated via a “recycle bot”, specific details of which were never provided.
As I write this only a few months out from The Berlin Group’s launch, the company website is offline, invested funds have disappeared and management are feeding victims excuses.
Officially The Berlin Group was headed up by CEO Joachim Pydde (right).
Recent developments however suggest the company is actually run by Laurie Suarez.
Suarez, a convicted scammer, has been scamming people in Australia through the construction industry for years. For The Berlin Group, Suarez reinvented himself as a cryptocurrency expert.
In a communication sent out to The Berlin Group investors, Suarez references a “private conversation” between Joachim Pydde and Chris Arena.
According to Suarez, in the recorded conversation
Mr Pydde basically goes on to say that he knows very little about everything we have done over the last 5 months.
I personally have nothing to hide from our Leadership Team, our members, our community, and totally deny everything Joachim Pydde has said on the recording with Chris Arena.
Suarez doesn’t state what Pydde said in the recording, nor was I able to find a copy of it.
Reading between the lines though, I imagine it probably confirms one way or another that The Berlin Group was a Ponzi scheme.
Suarez alleges Pydde made off with half a million dollars. As far as I can tell, he’s done a runner.
Armed with an email list of gullible investors who believed The Berlin Group actually had a recycling bot, Suarez is doing everything he can to convince them all is not lost.
To that end he’s come up with a new “joint-venture partnership” with Pellegrino Oil and Gas, some company nobody has ever heard of out of Uganda.
We are proud to announce our new JV Partners, Pellegrino Oil and Gas, as our Financial Instrument effective immediately.
The new JV Partner promises to deliver true transparency, integrity, and full commitment to the sustainability of our bot & community moving forward.
Pellegrino Oil and Gas doesn’t have a digital footprint and doesn’t seem to exist outside of a press-release Suarez hastily put together.
Let’s cut to the chase; Pellegrino Oil & Gas in Uganda adds no more legitimacy to Laurie Suarez’s Ponzi scheme than some made up recycling bot bullshit in Australia.
Having received his share of stolen investor funds, Joachim Pydde has cashed out and gone into hiding.
Laurie Suarez isn’t done milking The Berlin Group’s gullible investors and so we have this mess.
Australian and Ugandan authorities are unlikely to pursue the matter due t the use of cryptocurrency.
By now who knows where Suarez has squirreled away what he’s stolen.
Looking forward, no doubt at some point the Pellegrino Group joint-venture deal will fall through.
This gives Suarez a convenient faceless company scapegoat, providing the cover he needs to detach and exit-scam with your money.
Cue “I tried really hard”, “I did everything I could” etc. sorry for your loss excuses… and, well that’s it really.
Just another day in the MLM cryptocurrency niche…