Is USFIA tied to Options Giant Ponzi scheme?
What a small world it sometimes is.
A reader sent in a call for review yesterday via a comment on our Options Rider Review.
For those unfamiliar with the scheme, Options Rider is a binary options Ponzi scheme operated by Bob Roberts.
Roberts is based out of China, where he believes he’s safe from US regulators.
The call in question pertains to Options Giant, which was launched when Options Rider began experience payment problems. At present it’s believed Options Rider investors are waiting months for a single withdrawal request.
Both schemes solicit funds from US investors and both then proceed to launder said funds through banks in Australia. As of yet no regulator has moved in on the scheme, despite claims of investors investing $500,000 at a time.
There are three primary speakers on the call, co-hosts “Mark” and “Garry” and the President of Options Giant, a man identified only as “Gabriel” from Australia.
The two hosts appear to have organized the call to help with their investor recruitment efforts. One of the hosts claims to have managed a downline of 40,000 to 50,000 in similar schemes.
After getting the usual Ponzi scheme questions out of the way “how long will this last?”, “are there investment limits?”, “how do you plant to deal with banking (money laundering) regulations?” etc, Gabriel goes on to explain Options Giant’s efforts to fly under the US regulatory radar.
In essence, Gabriel believes that by having US investors invest into a pooled fund, which Options Giant then launder through Australian bank accounts, the scheme won’t attract regulatory intention.
Gabriel claims on the call that “a Chinese guy, the head of one of the communist things in Shangai”, has invested $18.5 million USD into the scheme.
“This is currently legal in Australia” explains Gabriel.
Meanwhile, despite soliciting funds from US investors and the investment pool clearly a securities offering, Options Giant remain unregistered with the SEC.
Around halfway into the call, Garry asks Gabriel if he plans to visit the US:
[24:25] Do you travel much, Gabriel, to the United States? Do you ever come over here?
[24:32] Um I have, I actually was just there a few months back.
And I was in LA, I was doing a presentation to uh, believe it or not, to the Chinese community based in uh, ahhh, what was the suburb? Arcadia.
According to the United States Census Bureau, Arcadia, a small city in California, had a population of 58,000 in 2014.
So out of the whole of the US, why did the President of a Ponzi scheme specifically single out Arcadia, California for an investor presentation?
Arcadia as it were is no stranger to Ponzi schemes. The small city is currently embroiled in a Ponzi scandal that has engulfed its political dialogue.
Facing mounting pressure to come clean regarding his business relationships with USFIA owner Steve Chen, local City Councillor John Wuo was suspiciously absent at an Arcadia City Council meeting last night.
For those unfamiliar with USFIA, the company operates the GemCoin Ponzi scheme. Through its GemCoin, USFIA have primarily targeted Arcadia’s Chinese community for investment fraud.
John Wuo has appeared at many USFIA GemCoin events, leaving his constituents wondering as to the extent he might be involved.
Wuo maintains he is not directly involved in USFIA or GemCoin, nor was he compensated for appearing at the scheme’s publicity events, or USFIA’s use of his name and image to market GemCoin to Arcadian citizens.
Whether or not any USFIA GemCoin funds have passed through 24HD Surveillance and into John Wuo’s possession is unclear.
USFIA’s recent planned promotional event on August 28th was abruptly cancelled, following a showing of Chinese investors demanding their invested funds be returned.
USFIA’s last Arcadia Ponzi gala was held in late May, which sort of fits Gabriel’s “a few months back” timeline.
Whether or not Gabriel attended the GemCoin event and presented Options Giant is unclear.
What are the chances of two Ponzi schemes being pitched in Arcadia around the same time to the same community at two different events?
Yeah it might be a coincidence, but in my experience there is little of coincidence that occurs in the Ponzi scheme underworld.
Was Options Giant sandwiched into the GemCoin event? Is USFIA investing affiliate funds in Options Giant whilst presenting a GemCoin facade to investors?
Somebody in Arcadia’s Chinese community has to know something…
In the meantime, a round of applause for Arcadia’s Chinese community. Y’all well on the way to establishing your little city as the west coast Ponzi capital.
A few more schemes under your collective belts and we might just have to recrown Massachusetts.
They wouldn’t be pitching if you weren’t investing…