TLC Trading claims Ponzi scheme insured by Liga Insurance
TLC Trading is claiming funds invested into its Ponzi scheme are insured by Liga Insurance.
The claim was made by the second actor to play fictional TLC Trading CEO Armen Sargasyan, in a marketing video published to YouTube earlier this week.
[0:20] Today I can show you official document. Official insurance, liability insurance of our company.
What this means?
This is best thing what I can tell you and shared to you. All our money, all company assets it’s already cover but official insurance by biggest company in Armenia.
[3:18] So if company will be bankrupt, insurance will pay it back your money.
[7:20] You don’t need to do any KYC. KYC is not existing in this insurance and nobody care, because we are just putting name, surname in certificate and you are getting.
If you have your certificate you can… if something happen, it should and your funds will come back to you.
So this is also great because we, like you know us, we don’t like KYCs.
A purported June 10th “certificate of insurance” for policy number: LI003564, issued by Liga Insurance, is provided:
Notably the shell company on the certificate is “TLC LLC”. This is different to the “TLC Trading LLC” Armenian shell company TLC Trading previously representing it operated through.
As per the purported Liga Insurance certificate, the stated type of insurance provided is “products liability insurance”.
Product liability insurance protects a company if a physical product causes injury and/or damages to a third-party.
Putting aside TLC Trading has no product to qualify for liability insurance, It has nothing to do with insuring funds invested into the Ponzi scheme.
What product liability insurance is, is completely at odds with the the second actor to play Sargasyan’s representations;
[1:48] We are first company in the world who have official insurance of all asset in the wallet.
From this time till one year … to ninth of June next year, all our money it’s covered.
TLC Trading is a reboot of the collapsed Trade Like Crazy Ponzi scheme. The scam is believed to be run by Polish and/or Russian scammers hiding in Dubai.
Liga Insurance, founded in 2008, claims it’s “the largest insurance company in Armenia”. BehindMLM has reached out to Liga Insurance for comment.
Update 4th July 2024 – Liga Insurance has confirmed TLC Trading lied about its insurance contract.
The YouTube video, in which the second actor to play fictional TLC Trading CEO Armen Sargasyan made the claims, has been marked private.
Update 4th July 2024 – The second actor to play TLC Trading CEO Armen Sargasyan, has been outed as Polish national Tomas Malodobry.
Liga was very transparent, they confirmed, that the Liability insurance was for beer imports and all the claims of TLC were lies.
According to Liga, they already terminated the contract with TLC. I guess you will cover this in details.
Liga never responded to my press enquiry. Where did they confirm?
What’s strange that i have recieve very clear reply from Liga that yes TLC has the liability insurance but they can’t share its details as its under NDA.
After that today i recieve several emails from people claiming to be liga insurance and they are different then original Liga email. I think there is some attack on them.
Fraud automatically voids any contract. Treating these reports of Liga responding as BS unless they issue a public statement.
I sent an email to info@liga.am. I shared the video you included in this article (TLC removed it since then) and explicitly asked if investor capital was insured. They responded within 24 hours.
This is their response to me: imgur.com/a/bbNXk2i
After I shared this, another person had asked for more details, and this was the response to that: imgur.com/a/SgbRwJJ
Honestly, I was surprised by the level of transparency. I was expecting a reply that they cannot disclose any information.
Thanks for that. Maybe Ligma balked when I said I was from the media.
Oh well, today we’ll cover TLC Trading’s insurance lies.
I am glad I could help.