USI-Tech investor warning issued in BC, Canada
As USI-Tech struggles to convince investors of its legitimacy, now regulators are starting to take notice.
On December 15th the British Columbia Securities Commission officially added USI-Tech to its Investment Caution List.
As per the BCSC’s warning, USI-Tech
is not registered to trade in, or advise on, securities or exchange contracts in BC.
We urge BC residents to exercise caution when dealing with firms that are not registered to trade or advise in BC.
USI-Tech’s business model sees the company advertises a 70 EUR ROI on 50 EUR investments.
Despite clearly offering a security, USI-Tech has not registered itself with a securities regulator in any jurisdiction it operates.
The offering of unregistered securities is illegal in regulated financial markets the world over.
At the time of publication Alexa estimates the US is the largest source of traffic to the USI-Tech website (27%).
As of yet however and despite widespread promotion of USI-Tech throughout the US, the SEC has yet to take any action.
Shoutout to Dickie for the heads up!
This is how the end begins. Look at OneCoin. It will soon be a thing of the past and it’s demise started with one government agency issuing an edict to cease and desist.
It might take a year or two before it collapses, but the poor saps who join last will lose their investment and the promoters will feel no remorse about stealing from their friends.
Now look at this!!!!
Come on guys, at least credit your sources if you’re going to copypaste.
so… I had a friend recently try to enroll me in USI. luckily, I have BehindMLM bookmarked, and come here once in awhile and recalled reading about this ponzi here. ( a few years ago another friend tried to enroll me into onecoin, and I stumbled on this site then, saved myself. that friend is still believing in onecoin, despite my sharing a number of things with them, so i return here hoping to see it’s final demise announced)
funny story: both of these friends that have suggested both onescam and usi-rippoff.. are friends from a previous scam, where I was taken in. dinar rv. lol.
so, luckily I learned my lesson with the IQD bs.. and since.. research before drinking .. both of the friends mentioned above, have not =(
I’ve sent out another large batch of emails to the rest of the provinces and territories. I’ve included the link to British Columbias warning. Hopefully this can become a nation wide alert. Maybe even get some traction with the media. Who I’ve also been emailing. Fingers crossed.
Sorry if I didnt credit a source earlier, my iphone SE is ridiculously small screened for use on forums and such.
They succeeded in scamming you into joining Dinar RV – maybe that helped them come out net winners. In other words, when the scheme collapsed, they still came out with more money than they put in – your money.
Perhaps the lesson they learned was that scams work, as long as you’re a good enough liar. Perhaps they’ll come out net winners out of OneCoin and USITech as well. Even if they didn’t con you this time round, they’ll have other “friends”.
@Malthusian yes. I tried to point out to the USI person, that the “money” they “earned” was simply commissions on their enrollments. nothing more. they couldn’t see it… maybe in time, they will.
Government warning #2, from the New Zealand Financial Markets Authority.
SO THIS IS ANOTHER ZEEK TYPE SCAM?
BAM!!!!!! New Brunswick is onboard!!!!! This is from their email reply to me!!!
It’s closer to the ad pack Ponzis (Traffic Monsoon, Adsurf Daily), only USI-Tech call them bitcoin packs.
They all use the same “use newly invested funds to pay off existing investors” Ponzi model though.
Ive been amazed at how Americans and Canadians have a fatal attraction to Pyramid, MLM, Ponzis. Are there any that actually work?
whew! sat through an hour long interview with horst jicha streamed live on dec 16th, 2018.
it’s all waffle waffle waffle – nothing of substance, no clear answers about anything – and topped again with waffle waffle waffle. whew!
– addressing the criticism of usi tech on online forums and it being called a ponzi scheme, jicha says [not exact quotes] – PEOPLE THINK IT’S IMPOSSIBLE TO PAY WHAT WE’RE PAYING BUT THAT’S EASY TO CALCULATE, ANYWAY THAT’S NOT THE STORY…
^^whaat! that’s EXACTLY the story jicha, show the frigging calculations of how you generate your ROI!
– jicha says doing business in the US is really tough and the moment you feel everything is legit, something new pops up, so its very very difficult. the solution is to ‘show them income of the company’ and usi tech are working towards that. so again, no proof of income yet, but it will be ‘coming soon’ as is the usual ponzi excuse. [i wont be surprised if they stop business in the US at some point soon]
– how do the BTC packs generate ROI? well, it’s a mix of trading and mining. and the mining is done via rented/leased equipment under an NDA. so, no proof provided again of anything.
– but, dontcha worry, next year they will set up their own new huge mining farm and become the top ten in the world and everybody will be able to see the proof. meanwhile their top tech guy evan ahern is buried in machinery all day long in preparation for this top ten mining farm! this great majestic plan is – coming soon coming soon coming soon.
– jicha claims they have 600,000 affiliates now [and we can guess that the amounts of ROI he has to pay at 1% daily must be humongous!]
– as is usual with ponzi schemes problems started with payments a few months ago with people not getting paid and support not responding, or people losing their packs. jicha blames all this on ‘jealous people and companies’ who have been attacking their website [hacker attacks, downtime attacks, stress attacks] but all this will be solved – coming soon coming soon coming soon.
_ jicha acknowledges that they have support problems, but that two months ago they signed a contract with the ‘biggest support software company’ in the world which works with major banks etc, all across the world. [of course, he wont tell anybody the name of this company, because he doesn’t want any fact checkers after his ass!]
unfortunately, even this biggest bestest hugest support company of the world has to be ‘trained’ for usi tech and has to deal with so many different languages across usi techs customer base, that it will take 4/5 months for support to straighten out. till then support is – coming soon coming soon coming soon.
– and oh, delicate question, what about um, ‘Trading times over Christmas? ‘ [read ‘withdrawals’ over christmas]. jicha says something to the effect – Honestly I dont know, I cant answer so far but I don’t think we’re going to have a stop to trading or whatever , it will go on as before, ..cant give you the right answer….
…and the interviewer says – hahaha, we’ll let you off on that one!
so, i’m guessing ^^ getting withdrawals over christmas is going to be a problem, and there are already excuses from usi tech management about blockchain slowdown and crap.
i guess affiliates have to just keep compounding their packs and watch numbers on their screen, while horst jicha fixes everything – coming soon coming soon coming soon!
the lack of clarity and evasiveness in this one hour piece of headache inducing gabbling is astonishing and yet there are idiots who hear all this and comment:
thankfully, there are some who see through the BS too:
and somebody responds with the ‘faith’ explanation:
to cut a very long tedious story short, USI tech has no proof of anything NOW, everything is in the ‘works’, have ‘patience’, have ‘trust’ and you’ll be millionaires – coming soon coming soon coming soon!
^^^ the storyline of almost every ponzi scheme out there, leading to the same ending – crash and burn and huge losses to the majority of investors.
Anjali – great article. In Ralf Gold’s mind, coming soon is something longer than 9 months. Adopting that to Horst’s statements, we may see something around September 2018, lol.
thank you for that effort! good stuff.
that’s one non renewable hour of my life invested in horst jicha and his little ponzi. he ought to pay me some ROI! 😉
horst jicha also mentioned he’s now a citizen of dubai.
i remember udo deppisch [of onecoin] also saying something to that effect, calling dubai ‘my city’.
muhammad zafar [of onecoin] also bought [rented?] an office in dubai to propagate his onecoin business, as he stopped travelling into pakistan/india after the regulatory warnings there.
is dubai becoming the ‘go to’ place for ponzi scammers?
@Anjali: Becoming? Dubai’s association with dodgy investment schemes started in at least the mid to late 2000s, maybe earlier.
OneCoin has had strong ties to Dubai right from the very start in 2014 – one of its main shell companies was registered in Dubai that year.
Remember the “Aurum Coins” that you used to get with OneCoins, supposedly backed by real gold? They were meant to be in Dubai as well. It goes back well before Deppisch and Zafar.
A wretched hive of scum and villainy.
The latest address from the serialscammer Udo Carsten Deppisch (from DealShaker) should be this:
Dubai and Monaco (in the past) are only “virtual offices”.
I dont think its just Americans and Canadians.
I think it’s everywhere. It seems only America and Canada because they are the countries actively shutting them down hence the notoriety.
Traffic monsoon was busted in the US, but one of the excuses for their defense is that 90% of members are outside the US. That’s why Scammer Scoville converted to Muslim. OneCoin is out of Bulgaria. Banners Broker in the U.K., Flexkom in Turkey, etc. etc..
And no, I don’t believe any endless chain, open to anyone, everyone is the supposed business owner, works . It doesn’t make any sense that it would. Gotta have customers who are looking to spend and not make money. But that’s another conversation:)
For what it’s worth and as far as my own research goes, a Dubai incorporation is on the same level as that of the UK, BVI, Cyprus, Hong Kong, any of the tiny islands off Africa or Luxembourg.
USI-Tech stopped doing withdrawals, that means the end is near. Don’t put any more money in!