Senator offers “no comment” to Guam USI-Tech Ponzi victims
For a senator focused on delivering ‘enhanced customer service to the community through advanced technology‘, a “no comment” response in relation to his involvement in a multi-million dollar technology-based Ponzi scheme is baffling.
Following a recruitment event held in Guam last June, it is believed hundreds of locals took the plunge and invested in USI-Tech.
Guam local Cyrus Luhr estimates USI-Tech investor losses in Guam run into hundreds of thousands of dollars.
Believed to be among USI-Tech’s top Guam investors is Senator Tommy Morrison.
Morrison (right) was one of five admins of a since-deleted USI-Tech Guam Facebook group.
The group was private and boasted over three hundred members.
Following an emergency cease and desist issued to USI-Tech by Texas, Cyrus Luhr filed his own complaint with the Guam Attorney General’s Office.
The status of the Attorney General’s investigation into USI-Tech is unknown.
In the meantime the revelation of Senator Morrison’s involvement in USI-Tech has prompted questions from local media.
When approached The Guam Daily Post for comment on Luhr’s complaint, Morrison “declined to comment”.
In an email response to the Post, on the USI-Tech issue, Morrison wrote: “I don’t believe it’s appropriate for me to comment on the email that was sent to various agencies and organizations referencing USI-Tech.”
Whether Senator Morrison will eventually explain to his constituents why he lead them into a global bitcoin Ponzi scheme remains to be seen.
In the meantime it appears he’s not interested in publicly addressing or at the very least explaining his involvement.
The Guam Daily Post cite $60,000 in “bitcoin mining shares”, disclosed by Morrison in a 2016 financial statement filed with the Guam Election Commission.
How much Morrison personally invested into USI-Tech and how much he made directly and indirectly recruiting others into the Ponzi scheme is unknown.
Morrison was elected into office in November, 2016 to serve a two-year term.
Here’s hoping if the AG’s Office or Guam Department of Revenue and Taxation roll up demanding answers, Morrison has a more for them than those who voted him into office.
Footnote: Since the interviews by the Guam Daily Post, USI-Tech has officially suspended US and Canadian affiliate withdrawals.
$18.3 million dollars worth of ethereum has also been cleaned out from a mining pool account bearing the name “USITech”.
$18.3 million dollars would be enough for USI-Tech to pay a 140% ROI on approximately $13 million dollars, less once recruitment commissions and transaction fees are factored in.
Last September USI-Tech co-founder Horst Jicha claimed USI-Tech had solicited around €350 million EUR in investment ($418 million USD).