USI-Tech @ BehindMLM

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.

Following confirmation its BTC Packages were unregistered securities, USI-Tech announced it was abandoning the US and Canada back in early January. Turns out that was baloney, with USI-Tech once again announcing it is abandoning the US and Canada a few days ago.