Outside of a yellow Lamborghini that may or may not belong to Ralf Gold, there hasn’t been much information on what the millions USI-Tech investors lost has been spent on. Following the filing of a lawsuit by Horst Jicha, we can now account for an additional $1.5 million in stolen USI-Tech investor funds.
Rather than just admit USI-Tech was a Ponzi scheme that collapsed, owners Joao Severino, Horst Jicha and Ralf Gold continue to string investors along. In their latest communication, USI-Tech now blame non-payment on the state of the cryptocurrency mining industry.
Thought the USI-Tech Ponzi scheme had completely collapsed? Yeah, not quite. USI-Tech had initially planned to exit-scam through the TechCoin ICO. Y’know, the usual stuff: Promise the shitcoin will moon, get it listed on some shady exchanges and then convert unpayable Ponzi ROI balances to TechCoin and do a runner. Fortunately USI-Tech’s plans were interrupted [Continue reading…]
New Zealand’s Financial Markets Authority has issued an investment warning against USI-Tech. Better late than never?
Rather than clear his name with evidence he isn’t a serial scammer, Frank Calabro Jr. has agreed to stop committing securities fraud in North Carolina.
As part of Operation Cryptosweep, Ohio has issued USI-Tech with a securities fraud cease and desist. The May 18th notice identifies USI-Tech Limited as the sole respondent, through a PO Box address in Dubai.
Justin Verrengia was one of USI-Tech’s top US-based investors. After USI-Tech collapsed in the US, Verrengia, who is based out of Florida, began scrubbing the internet of his association with the Ponzi scheme. Most of Verrengia’s promotion of USI-Tech, primarily through his “Crypto Alchemy” Facebook group, has since been made private or deleted. I did [Continue reading…]
Despite management claiming to have ‘never had a problem in the USA and Canada‘, further evidence of USI-Tech’s non-compliance with US regulators continues to surface. The latest is confirmation the company failed to respond to a North Carolina securities fraud cease and desist.
Spain’s top securities regulator, the National Securities Market Commission (CNMV), has issued a securities fraud warning against USI-Tech.
Following less than successful attempts reach out to USI-Tech victims in North Carolina, the Securities Division is broadening its appeal.
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