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.