USI-Tech impose iron curtain of secrecy, invested funds held hostage
With the lies about their working with US regulators exposed, USI-Tech management have switched focus to announcing their next moves on a “need to know” basis”.
That is to say unless you’re a gullible dumbass who still believes USI-Tech hasn’t collapsed, management don’t want you knowing what they’re up to.
Following reports of ROI withdrawal problems in Australia and continued silence on where US and Canadian invested funds went, USI-Tech’s Horst Jicha has sent out an “important news” update.
Most of the update is dedicated to warning USI-Tech affiliates that the company will terminate their accounts.
As an executive team, we have been immensely appalled at the personal and professional attacks by a minority of members directed at the company, the owners themselves, and even other members who have diligently tried to keep their teams updated.
We, as a company, reserve the right under our current terms and conditions to terminate any account that has engaged in such actions or where a material breach of the aforesaid terms and conditions have been violated.
Reading between the lines, this is likely addressing backlash against Sharon James and John Smith.
Both UK affiliates, James and Smith have continued to promote USI-Tech despite the majority of investors losing access to their money.
Word on the grapevine is James and Smith have recently had a number of hotels give them the boot, dampening recruitment efforts in the UK.
Depending on the level of harassment (who knew Ponzi victims get angry at those who scammed them?), Jicha’s warning could be justifiable.
But then he goes on to impose an iron curtain on USI-Tech developments going forward.
Prior to the express written permission of USI-TECH, you agree not to:
Post material, non-public information about companies, without the specific written authorization to do so.
Post, transmit, copy, transfer, make available or otherwise distribute all, or any part or derivative of, the information provided by USI-TECH “Sales Partners” to USI-TECH users, even if such information is a fact, truth.
Why affiliates not sharing what they’re told is important to USI-Tech management should be obvious.
- USI-Tech’s legal opinion on selling unregistered securities in the US being legal?
- the non-existent $70 million dollar BitFury contract?
- unauthorized footage of Genesis Mining facilities appearing in USI-Tech promo videos?
- the ethereum pool debacle?
- vowing to reopen in the US despite not responding to the Texas cease and desist?
All PR disasters because they were never intended to be disseminated beyond a tight circle of gullible USI-Tech investors.
So anyway, with so much collateral damage already done and regulators closing in, why is Horst Jicha getting his panties in a twist about secrecy now?
On a more positive note, we have some extremely exciting news to share with you over the next few days in relation to our TECH Coin and look forward in detailing this for you.
USI-Tech’s proposed Tech Coin ICO surfaced late last year. It was supposed to be a fund-raiser to keep the BTC Package going for a bit longer but was derailed following the run-in with US regulators.
USI-Tech affiliates were able to invest up to 50,000 EUR for Tech Coin points pre-ICO, however whether that’s still the case or not is unclear.
In any event, like BTC Packages the Tech Coin ICO is a security and requires registration with the appropriate securities regulator in any jurisdiction the ICO is offered in.
Despite Horst Jicha’s iron curtain coming down, we’ll do our best to keep you updated.
Well it is for sure they won’t be registering their Tech Coin with the SEC. Mainly because of their ignoring the Texas Cease and Desist, but also because of this announcement from the SEC: NOLINK:biglawbusiness.com/the-sec-man-cometh-for-ico-attorneys/
Message from USI-Tech Owner –
“No, no, no – Let US worry about HOW to spend YOUR money. It’s NOT your money anymore, anyways. If you were dumb enough to buy into our Ponzi/Pyramid scheme, you sure as hell aren’t smart enough to get your money back. But, not to worry – I’ll send you a pic of my 3rd new Lambo, OK?”
Thanks for the updates.
It’s finito, vapour, gone gone gone. Last one out please turn off the lights
Good news. I have located most of their home addresses and it will all be public soon. So if you have or want to serve them any legal documents, it’ll be very easy.
Someone please tell Michael Banks AKA happy days goldfinder that his account is useless even if he does get it back
And he has the cheek to start a FB fundraising campaign to recoup his ponzi losses…I trust you will all go to his campaign and report it like I have done.
The photo of them walking around with their heads covered is priceless.
Brilliant idea of giving the hotels who host Ponzi schemes bad reviews. Let’s keep it going.
Lord knows I wouldn’t want to be a guest and get approached by a repugnant MLMer in the lobby.
I heard back from Ontario today. The OSC. All we me with their lawyers on the phone and needed more info. They are preparing a cease and desist against st USI-TECH .
OZ HEADS UP!
Will be interesting to see if they get it. I’d have thought Google would have addressed the issue themselves following the Facebook ban.
If you run a search for any well-known scam chances are you’ll get search ads for the company. The grey area is what level of liability do Google have.
As an advertising platform they can’t veto individual opportunities advertised on their platform, so I guess the alternative is a blanket ban.
It sure is nice to see some big changes coming. It’ll help save a lot of people.
Sure they can, they just consciously choose not to if the individual opportunities pay them enough money. YouTube claimed it was technologically infeasible to veto terrorist or child abuse videos until big advertisers complained, then as if by magic it suddenly became feasible.
Every single one of them? Google is the world’s biggest advertising platform, and anyone can pretty much throw up a cryptocurrency company ad.
On the surface there’s nothing illegal about cryptocurrency opportunities, with it only being the business model that differentiates the good from the bad. I know it takes me hours to research each opportunity I publish a review on (sometimes a few days).
There’s a difference between setting up a video algorithm or text ad and blocking it, as opposed to going off-site, looking up a company, analyzing its business model and making a call on its legitimacy.
That’s precisely why Facebook opted for a blanket ban and I can see Google going down the same path.
Where will you post there addresses at?
In the one star barrage squad fb group.
It is the world’s biggest advertising platform precisely because of its no-questions-asked policy.
This makes it both cheap and attractive to scammers.
Google could quite easily require any ad relating to cryptocurrency or similar terms to be manually approved before posting. If this means they have to hire more staff and make less money, tough. Acting legally and ethically usually means making less money.
The approval process would not have to be onerous or require a Google employee to conduct an analysis of the business model.
All the Google employee needs to do is check the business against the register of the SEC, FCA or other relevant regulator for authorisation to offer an investment opportunity, payment processing service or whatever it is they purport to offer. The regulator has already done the hard work of analysing the business model, that’s what they’re there for.
To quote Eric Cartman, not all cryptocurrencies are scams, but most of them are, and all it takes is most of them. Many cryptocurrencies don’t use MLM or promise passive ROIs, but are still pump-and-dump schemes which serve no discernible purpose other than to reel in investors hoping for a repeat of Bitcoin.
Regulators don’t proactively maintain a list of approved companies. At least the SEC doesn’t, so what are Google going to check?
Although it’d be entirely stupid to do so, a scam could register with the SEC and conduct fraud out in the open until caught. So Edgar can’t be relied on exclusively.
And then there’s ads that point to landing pages that don’t mention or directly link to the opportunity being advertised, how is Google going to suss them out?
Analyzing a business model is an inseparable component of MLM due-diligence.
To investigate each and every submitted cryptocurrency ad is too much of a burden on advertising platforms IMO.
Well if counties hold google accountable for all the stolen money. Maybe something will happen.
Hi, where can I find their addresses? Please post it asap!!
The number 1 USA leaders Dan and Patti Hunt live at (removed) when you do a parcel seach for those that want to serve them any legal papers. Partner David Frost’s parcel search shows he lives at (removed).
If you are in the USA, it seems as those 3 were the “master distributors” and at the top of the upline in regards to commissions.
USI – Tech Limited
P.O Box Dubai UAE 122036
Is the only address they’ve ever given
No personal info guys unless it’s publicly available elsewhere.
It’s publicly available, but I understand if you don’t want it up.
All you need to do is get on google and do an address search to see what town each live in, then do a parcel search in the corresponding county. Took me 3 minutes.
The FCA certainly does (register.fca.org.uk) which includes companies authorised to provide payment/currency services. I’m surprised the SEC are behind for once. Oh well, for ads in the US Google will have to run its own check. So it goes.
If someone like you can do it voluntarily, even if it takes a large chunk of your time, Google can pay someone to do it and build that cost into the price of its ads.
No, but it’s a start, and at least Google has made reasonable efforts to not profit from a scam.
They can’t, but at least they’ve made life harder. If the landing page doesn’t mention or link to what it’s about, some consumers are going to just leave. The nature of advertising means that anything scammers to do circumvent Google’s checks will make it less effective as an ad.
Perfectly reasonable opinion. Mine is that it isn’t asking too much for Google to take the same level of reasonable care as when someone wants to purchase an ad for Cialis or porn or cocaine.
USI-Tech have not shown any return on anyone’s BTC packages today!? Apparently they are saying it’s “Technical Issues”………
I’m gonna make a fortune. The Tech Coin is coming in March.
They aren’t lying to you. “Technically” it’s a Ponzi.
The good news is that Horst announced today the Tech Coin will launch March 1 at 50 cents per coin. Going to be interesting to see if they announce no USA or Canadian members can participate.
And no withdrawal processing since 2018-01-25 . .
BTW, how are people inserting coloured background quotes above?
Click on the Q above and to the right if you want to include the whole post or click and highlight a selected portion and then click on the Q The quote should then appear in a new “add comment” box.
Yeah just standard “blockquote” tags. I usually edit them in if I’m around too.
Oz are you going to do an analysis report on the new bullshit TECHCoin website and news release?
Got a copy of the whitepaper but haven’t looked over it yet. It’s on my schedule for tomorrow.
Here’s the letter Horst sent out:
It is laughable but I’m sure there will be lots of deluded USI-Tech believers who will still buy into it!!!
So we’ve taken millions of dollars in and are not paying out, but buy some of our new stuff. Is that what is going on?
Gone through the whitepaper. And yeah, TechCoin is just another “me too” altcoin launch. Same old “we’re better than bitcoin” promises etc.
Looks like they’ve hired some randoms in India to develop the script. And they’ve apparently been working on blockchains for 20 years:
Amazing… TechCoin’s dev team were involved in successful blockchain systems years before blockchain existed.
I imagine as far as USI-Tech goes the aim is to pull an exit-scam ala BitConnect et al.
If Horst and the gang make off with BitCoin they’re stealing everyone’s money. If they convince USI-Tech affiliates they’re not paying to convert bitcoin into TechCoin and then do a runner, they leave affiliates with TechCoin and it’s technically not theft.
Problem is all of this was put together with the proceeds of pyramid and Ponzi fraud. No amount of altcoin laundering will change that.
😀 I couldn’t find that error in the White Paper, but Ponzi Slayer found something interesting that he mentioned in a new video at youtu.be/ZrVEcCC877s
Check out the Development Teams for tech-coin.io/team and cryptokafe.io/#coreteam
Anything seem odd? LOL
According to that video above that Indian development team has reported USI-Tech for fraud multiple times. Wow.
omg the mirror photo of sharon james trying to hide under her scarf is so satisfying! she should frame that photo on her living room wall so her kids can be totally proud of her everyday.
with facebook banning cryptocurrency/ICO advertisements, it’s a good idea to report the techcoin official facebook page. i guess ‘FB pages’ advertising cryptocurrencies/ICO’s should also fall under the ban?
here’s a video advising how to report the techcoin page to facebook:
this is techcoin’s official FB page:
not only have hotels cancelled usi tech recruitment events, even the huge stadium event in brighton, UK, has been cancelled. this is how the event scheduled for 15/2/2018 was advertised:
this^ event page is no longer available on eventbrite.
with so much backlash from social media,the press and events being cancelled, it’s difficult to see how techcoin will gain any traction.
as oz suggested, horst jicha may just end up exchanging everyone’s BTC for techcoin and run away.
usi tech critics who are actively trying to pull down the scam are suggesting contacting cryptocurrency exchanges to dissuade them from trading the ponzi techcoin. hope that works too!
Really, what did anyone expect. They lied about their contract with BitFurry, the Genesis mining partnership, they were approved by the US SEC, and they are lying about their blockchain development team. Just routine for USI.
Just expect there to be “issues” that prevent the launch of TechCoin at the last moment now that it known there is no contract with these development partners. Horst can’t lie straight in bed.
so, that video has been removed by you tube citing:
ponzi slayer has posted a fresh [toned down] youtube video addressing the same issue of USI tech lying about it’s techcoin development team:
the worry i have is that ‘crypto n kafe’ as a business entity may not have any contact with usi tech, but some of its developers may be freelancers who work on other projects too.
so, some of the developers working with ‘crypto n cafe’ may have teamed up with other freelancers and worked on techcoin.
it’s a possibility.
Jicha’s Techcoin announcement is laughably bad. It’s the Greatest Thing Of All Time! Use it anywhere! It solves world hunger! It stays crunchy, even in milk!
The sad thing is there are people out there who will fall for this, out of fear (of missing out), gullibility (“Why would anyone on the internet ever lie to me?”), and/or greed (“a ROI way higher than any conventional investment instrument? Sign me up!”). And that’s what Jicha is counting on.
uh ,so the development team photo is gone form the techcoin website:
the photo of the indian development team was there yesterday, gone today.
usi tech observers have been calling out the photo as a lie and photoshopped, and suddenly it’s disappeared!
the photo is still available at the bottom of the techcoin whitepaper on it’s website, but gone from the link to ‘our team’.
this photo has been traced to two indian tech companies prolitus and sofocle.
i have contacted both seeking clarification.
IMO, a few developers from crypto n cafe, prolitus and sofocle may have worked on techcoin in their individual capacity, but the photo doesn’t represent the team accurately so it has been removed from the techcoin website?
A small gift for you: 🙂
My favorite on the team is Coming Soon.
Very black and white dev who doesn’t waste any time. Dude knows his stuff.
They have officially branded the new mining pool.
Too bad it sucks even worse than the first one lol.
Wonder how many months this one is contracted for…
All of those coins are probably controlled by the Fab4.
Co Ming Soon is one of South Korea’s most respected blockchain experts.
He (or possibly she) has worked hard to overcome his (or her) disabilities of hypermelanism, hyperspheroidism and astomism and doesn’t deserve ignorant snarky comments from bloggers. Shame on you all.
Lulz… USI-Tech’s “transparent model” was first promised in June, 2017.
Why do you say:
So Sharon James has 3 newly registered companies.
was registered on feb 7 2018 (and it shows her home address).
The next two below were registered feb 13 2018 to an office address. Is she gonna launder the money? Or launch her own scam?
If you thought this group wasn’t done trying to steal your money….think again.
The Hunt’s and the good Professor Frost have decided to double down on conning people after a good run making millions in USI. And yes that’s Herpy of Ponzi Show fame.
My third last withdrawal took 18 days to be transacted – a new record! There are still two withdrawals waiting to be transacted. Now – I can’t login to do any more! There is now an extra screen:
– but it doesn’t work! I have raised yet another Support Ticket and have received the usual BS response inc crap about “national holidays” etc . .
Looks like being close to the end I think . .
I recovered about 30% of what I put in . . I suppose I should be grateful . .
A Barry Trottier is listed on the techcoin site registry and also…. I think this is him…
Here’s the site registration:
Lol and I just
LOL That lawyer that did those releases for usitech is also involved!!! Jeez.
How long do we think until USI-Tech pulls the plug and exits with everyone’s bitcoin?
Because I have been blabbing here with my real name – it has probably already happened to me (see my previous post) . .
Announcement due about Techcoin on the 19th. Maybe they will convert all funds to techcoin which will have no value outside USi then the whole lot will tumble. Sound familiar? BitConnect?
I’m at a loss to see why the authorities havnt closed this down already, whats the point of issuing a C & D and then doing nothing when USI dis regard it? Amex event in UK Brighton definately cancelled.
Are you going to respond to my question?
ONTARIO CEASE AND DESIST!!!!!
Simple math. It earns way less than the old one. And the old one earned jack shit compared to what is needed to keep this ponzi afloat.
Thanks for the heads up!
I feel things aren’t going to end well for “Bondi bitcoin brother” Stephen Lenoci.
Apparently there’s some “full transparency” btc package 2.0 bullshit being released this week (supposed to be Monday). Stay tuned…
“No withdrawal limit on commissions” does this indicate there will be/are limits on on capital?
Seems all about getting more money in to keep it going a bit longer. No doubt the USI faithful will pile in, I’ve got 3 friends who are convinced it’s all legit and it’s a great company, one of whom used to be an auditor!
An auditor’s job is to make sure the column on the left adds up to the column on the right. They are often quite bad at finance and investment, as counterintuitive as it may seem – or perhaps it would be fairer to say they are no better than the general population. It’s a wood / trees issue.
And just as many scientists believe in religion, you can have auditors who believe in Ponzi scams. There are people who understand the scientific method, and there are people who view it as like a suit and tie, something you only wear because the job requires it. Same goes for the principles of accountancy.
If your auditor was in the office, wearing his suit and tie, he might say that USI Tech was a Ponzi scheme and was heading for certain collapse when it runs out of money. But he’s at home sitting in front of his own computer, and he wants to get rich quick.
I had to read this a few times before I understood it – you need a comma after the first word “And” otherwise the sentence has a different meaning to what you meant.
Agree! It’s amazing how normally rational people throw all sense out of the window through sheer greed and fear of missing out. It’s how these scams operate I Guess
And although I thought I did my due diligence . . to be honest, and in hindsight, that is how I ended up here I guess . .
after having to remove the fake photo of their alleged dev team, usi tech soon put up another photo, this time using a photo of some employees of a mumbai, india, based tech firm Auxesis Group.
well, the auxesis group was having none of that and they clarified their stance on FB yesterday posting:
poor little usi tech cant even fake a dev team anymore because they get caught out so fast! [psst, it’s the information sharing age].
so now usi tech have simply given up on pretending that they have any tech team behind their techcoin anymore.
the ‘team’ page on their website now says:
wtf are they even saying^^?
just die usi tech, it’s over, just die.
Any idea how long that “we’re delaying the ICO” popup message has been active for?
bah, the ICO may be stuck in a ‘coming soon’ time bubble forever.
horst jicha will be smiling and pointing at it while he gently sails off into the sunset on his yacht.