BTC Global Team Review: 14% weekly ROI bitcoin Ponzi scheme
BTC Global Team provide no information on their website about who owns or runs the business.
The company does however claim to be ‘the marketing arm of Steven’s Trading business.‘
We are backed by our founding trader at Steven Twain.
Steven has 6 years of experience trading binary options with consistent success, over the last 3 years he has started providing trading services for other large investors ($10,000+ only).
(Our) group negotiated an amazing deal with Steven to get access to his trading services.
Twain’s photo on the BTC Global Team website corresponds to the since deleted @steventwain22 Instagram account.
Starting around two years ago, Twain used his Instagram account to promote an undisclosed opportunity he claimed was paying 10% to 15% a week.
Five months ago Twain was also advertising a 10% a week ROI bitcoin investment opportunity on the website Jobs68 South Africa:
Around the same time someone by the name of Henry Obianyo was also promoting a 10% weekly ROI opportunity on Facebook, using Steven Twain’s contact details:
Obianyo is based out Nigeria and runs Michrob Koncepts Free Signals, a binary signals Telegram private chat group.
Obianyo’s Nigerian location may be of significance. In the image above from Twain’s since deleted Instagram account, the Nigerian Naira is the exchange currency onscreen.
A Steven Twain Facebook profile does exist but was only created a few months ago in August.
The same day the Twain Facebook account was created it was used to promote BTC Financials.
Today BTC Financials is known as BTC Global Team.
Whether Steven Twain exists, as represented by BTC Global Team is unclear.
What is clear is that someone or someones from Africa has/have been running investment schemes for some time, with BTC Global Team merely the latest iteration.
I’m also going to point out that another BTC Global launched earlier this year.
That BTC Global was a bitcoin gifting scheme that primarily targeted Nigerians. It has since collapsed.
Whether BTC Global and BTC Global Team are related is unclear. That both are tied to Africa however is likely not a coincidence.
The BTC Global Team website domain was privately registered on August 11th, 2017 – roughly the same time the Steven Twain Facebook profile was created.
As always, if an MLM company is not openly upfront about who is running or owns it, think long and hard about joining and/or handing over any money.
BTC Global Team Products
BTC Global Team has no retailable products or services, with affiliates only able to market BTC Global Team affiliate membership itself.
The BTC Global Team Compensation Plan
BTC Global Team affiliates invest bitcoin on the promise of a “guaranteed” 14% weekly ROI.
Affiliates are able to withdraw ROI payments after eight to fourteen days.
Referral commissions are paid out via a unilevel compensation structure.
A unilevel compensation structure places an affiliate at the top of a unilevel team, with every personally recruited affiliate placed directly under them (level 1):
If any level 1 affiliates recruit new affiliates, they are placed on level 2 of the original affiliate’s unilevel team.
If any level 2 affiliates recruit new affiliates, they are placed on level 3 and so on and so forth down a theoretical infinite number of levels.
BTC Global Team cap payable unilevel levels at five, with commissions paid out as a percentage of funds invested on each level:
- level 1 (personally recruited affiliates, must recruit at least five affiliates) – 5%
- level 2 (must recruit at least fifteen affiliates) – 4%
- level 3 (must recruit at least thirty affiliates) – 3%
- level 4 (must recruit at least fifty affiliates) – 1%
- level 5 (must recruit at least one hundred affiliates) – 0.5%
Joining BTC Global Team
BTC Global Team affiliate membership is free, however affiliates must invest bitcoin to participate in the attached income opportunity.
Conclusion
Steven Twain is our primary trader, he has a access [sic] to the latest trading tools to help maximize returns on his Binary, forex & commodities trading through an exclusive business partnership.
If the murkiness of who’s running BTC Global Team didn’t set off your scam alarm bells, there’s also no evidence whatsoever of any trading (by Twain or otherwise) taking place.
And even if we take BTC Global Team’s ridiculous claims at face value, the business model fails the Ponzi logic test.
If Steven Twain and/or whoever he’s working with were able to generate a minimum 14% weekly ROI (that’s 728% annually without compounding, more once referral commissions are factored in), why would they be soliciting investment from randoms over the internet?
And given whoever is running the Twain persona has been hocking their weekly ROI investment pitch for at least two years, shouldn’t it have caught on by now?
The reality of BTC Global Team is that new affiliate investment is the only verifiable source of revenue entering the company. The use of which to pay existing affiliates a weekly ROI makes BTC Global Team a Ponzi scheme.
As with all Ponzi schemes, once affiliate recruitment slows down so too will new investment. This will starve BTC Global Team of revenue to pay weekly ROIs with, eventually prompting a collapse.
With bitcoin victim fund recovery is next to impossible, which maximizes affiliate losses when the time comes.
this is the biggest load of CRAP I have ever read! But you sit here talking total nonsense while we continue earning our 14% per week (for months now!!).
Plenty of gullible Ponzi investors across Africa who fail to grasp basic math.
At 14% a week plus reinvestment, BTC Global can afford to pay you out (7 weeks without reinvesting, more with).
Once withdrawals topple funds invested, it’s over.
We’ll still be here when you lose your money, just don’t expect any sympathy. And if you’re one of the few BTC Global affiliates who steals money from the rest, shame on you.
You obviously suck at math, and dont know the first thing about commodity/binary/Forex. (seeing that we getting personal here)
The trading earns on average 40% per week. So where is the problem then? Anyway. My 2 cents worth.
If you keep reinvesting your 14% weekly profits, a 65 000€ investment exceeds the annual budget of the entire state of Finland in two years!
Making 14% annual income would be a good investment. 14% weekly profits are promises cashed with early stage of a Ponzi fraud.
Thank you so much for that 2 cents.
It’s gonna be so fantastic to collect my $12,482,205,927,191.53 when I retire in just 5 years.
Somebody call the President. A paltry $50K gets rid of our National Debt before the end of his first term with a few trillion to spare.
Awesome sauce.
Oh wait, why would I bother them when I can just match Willie’s 2 cents and do it myself on my five year plan. Sure, that’s gonna short me about 10 trillion, but I’m not going to ask what my country can do for me, I’m going to ask…..well, you know. 🙂
Damn, I gotta have 2 cents around here somewhere.
Hold on, heading to the sofa.
OMFG, I found a dime.
Thank you Jesus.
National Debt paid off and I still get to to pocket 50 trillion or so by Thanksgiving 2022.
Yippee.
Proof please.
*crickets*
It is 2% per day which is 14% per week compounded daily. People are making and withdrawing money daily. Just praying this is not ponzi.
Praying is terrible due-diligence.
No evidence of external revenue being used to pay investors, of course it’s a Ponzi scheme.
Guys, can I just ask, I am looking into this, seriously, but I have a few worries, the fact that Steven Twain is like this mystery guy, with no refereces that can be verified – and also, if these people are investing on Wallstreet, how come no one can tell you or even better show you where they invest and in what? How come this info is secret.
The whole MLM thing also unsettles me, cause it comes doen to Peter pays Paul kinda thing.
Don’t fight with me, I am looking for answers so I can also join the road to riches, but I am an analytical person and need to understand this.
ALSo people vlaim they talk to Steven Twain in FB messenger – ANYONE can create a fake Facebook profile and live a virtual life next to none, so this can be anyone imaginable and NOT Steven Twain at all… Please, some insight.
@Trevor
If you have looked into all of the information on this thread and only have “a few worries”, what more answers do you want?
Are you hoping someone will say “No, it’s absolutely not a scam, go ahead and get rich quick?”
BUT why in south africa it operates as company? check the website.
BTC Global might be run from South Africa. Then again scammers can put anything on a website.
BTC GLOBAL is a PONZI SCHEME created by 4 South Africans. They are CHERI WARD, CLYNTON MARKS, MADELYN ROOSE AND ANDREW CAW.
Steven Twain does not exist. He is fictional, created to make the poor and ignorant believe that there is a TRADER.
This scheme is going to get shut down in two weeks’ time as they running out of money… all thes ignorant people who have been worshiping Steven Twain like a God will lose all their money.
WHO ARE THEY GOING TO ASK FOR THEIR MONEY? STEVEN TWAIN or that bunch in South Africa??
Did it ever occur to anyone why there are NO AMERICANS in this scheme… because Steven Twain is not registered in the US as he just does not exist.
Hi Jesse, please will you advise as to why you are certain it will shut down in “2wks” time?
Well done Jessie, CHERI WARD, CLYNTON MARKS, MADELYN ROOSE AND ANDREW CAW the exact names I came up with after a little bit of investigation.
Reported their names and their involvement in this scheme to SARS last year and sent all the info to Carte Blanche and 702 (Bruce Whitfield) to follow up on after the whole MMM debacle, but the scheme just seems to carry on.
Usual story will only get press or investigated once it collapses and everyone has lost their money – or rather the poor chumps that were last to get in lose their money and Cheri and Co move onto their next scheme.
Shelly – probably because bit coin has taken a massive hiding over the last cuple of weeks.
Makes their pot a whole lot smaller. Easy to pay out when bitcoin was rising at a rapid rate and people were all jumping in.
Remember, despite what they say , there’s no trading going on its all getting funded from new recruits and in the last couple of months the rising price of bitcoin.
And it appears good old Steven Twain has gone missing. No payments made today and everyone is crying.
The fictional Steven Twain will take the fall while good old Cheryl and co walk away with everyones money.
ACTUALLY I’m Cheri Ward and I’m in the process of lodging defamation claims against Vivienne Budge and everyone else that spreads this blatant lie that I own btc global.
I’m sick and tired of being victimised and threatened when we’ve done nothing wrong.
I’m sick of these lies. Remember that every single thing you post so irresponsibly on a PUBLIC FORUM YOU WILL BE HELD LIABLE.
And Jessie Holmes is Vivienne Budge herself.
Yup, no payments. Shelly had it wrong. 2 weeks was a bit optimistic.
Just spoke to a few people invested. They think its dodgy, but only planning to exit in Dec 2018. I don’t think it will last that long.
Appears to have collapsed today – Payments made every Monday have not been made and “Steven Twain” is nowhere to be found.Would never have lasted to Dec 18.
This is a dead duck.. Unless they miraculously start paying again….. but that rarely happens once a company stops paying…
You don’t consider scamming people through Ponzi schemes as doing anything wrong?
Your TeamOnFire group appears to have started pushing cryptocurrency opportunities mid last year. In addition to BTC Global, what’s the bet none of them are legitimate?
@Cheri Ward
You will have to get used to being sick and tired . People don@t tend to enjoy good health and sleep in prison.
IT GOES WITH TERRITORY HONEY
Trevor! Amazing insight, how do you know all this??
You couldn’t be more on 100% correct and Steven will be the fall guy, yet I believe like you, he does not exist nor did he ever!!!
I’m following all this very closely and I actually have who the mastermind is behind all this!! He will be exposed by me very shortly and I too have very good insight on the scam!!
Google Truthfinder and see their are only 2 Steven Twains in America and both are older than 53.
Hi Dr M, not sure who the mastermind is but think the above mentioned names are intrinsically involved.
When posting warnings on “Steven Twains”facebook page it seemed that Cheri was administrating the page.
Look forward to seeing who the mastermind is – its unfortunate that people like Andrew ” Mr Bitcoin”in South Africa use their positions to recruit people into these schemes.
Good luck Cheri trying to litigate when I personally warned you that you were participating in an illegal scheme (Ponzi scheme) and recruiting people into a ponzi scheme. No lawyer worth their salt would take the case on.
Well done to Trevor, Dr M and Jessie. Another corrupt story with a sad ending.
Desperate people who suffers has now lost their money and please, don’t call them stupid. They are rather desperate to create a better live.
You will see when this story unfolds how many of them were desperate and how many were greedy! Trevor you indeed reported the matter to SARS and Carte Blanche. What a shame that they never responded!
It seems that you are right, they won’t do anything until everyone has lost their hard earned savings. It is a shame that they never reacted.
People who are desperate to create a better life study for a qualification, start a business or get a promotion.
They don’t knowingly attempt to scam other desperate people via a Ponzi scheme promising returns of 909% per annum.
Hi Nardes, Youre quite correct, the reason I tried to get this closed down was because I saw clients of mine actually cashing in policies that they could well not afford to lose to get into this ponzi.
Greed is a terrible thing but these marketers really know how to play on these peoples weaknesses.Really pisses me off watching hard earned money going down the drain to these thieves who dont give a shit that someone has just lost half their pension.
SARS and the authorities however just dont seem to care – Madelyn Roose was one of the people involved in running the MMM scam but yet no one has been brought to book with that scheme either.
As the one collapses they just open the next. In actual fact it doesnt collapse – its just their time to cash in.
ACTUALLY I’m Cheri Ward and I’m in the process of lodging defamation claims against Vivienne Budge and everyone else that spreads this blatant lie that I own btc global.
I’m sick and tired of being victimised and threatened when we’ve done nothing wrong.
I’m sick of these lies. Remember that every single thing you post so irresponsibly on a PUBLIC FORUM YOU WILL BE HELD LIABLE.
Hi Cheri. Why did you author the official BTC Global Team presentation back in August, 2017 if you aren’t involved in running the scam?
How much money have you stolen from your fellow South Africans through BTC Global Team?
Malthusian. I can clearly see that you do not live in South Africa?, or it seems so.
There are not too many opportunities to study further for Millions! Business opportunities are scarce unless if you also consider a Ponzi Scheme like this one?
BEE has created endless problems and unfairness with regard to promotion in the work environment. People who are desperate to make a descend living are the victims of such schemes.
There are many of them that will use their only savings or even there retirement funds to invest in this schemes.
Many of them are illiterate with restricted knowledge and does not investigate properly before investing. Some don’t even have the means of investigating. They rely on talk and advertising and news.
In this case the news came too late and it is devastating news to them. I am shocked that this was reported but the first sign of irregularities was when BTC Global stopped payments yesterday!!
I am however glad that you do got the opportunity to study (and the funding), that you managed to start your own business or that you got promoted at word.
I di not get any promotion since 1994, there was no business opportunities for me as there was no money to even think of starting a business and lastly, my parents were very poor and none of the children had the opportunity to study further!!
Trevor. My son invested 100 000 Rands with the. BTC Global did communicate with them today by means of “telegram” I think. Will chat to him this evening.
Apparently they are still here, they are not running anywhere and they admitted that the are in South Africa!
The problem they had with the payouts yesterday was the sudden loss of the Bitcoin Price to below 7000 Dollars. They have therefore stopped payouts and is waiting for the Bitcoin price to rise again!!
Can you believe this explanation? I told him to withdraw his investment at once and see if they will allow it.
Apparently someone has already attempted this without success. What will you suggest? What is the right thing to do? Why is there no news about this incident anywhere on the Web?
Hi Nardes, maybe speak to Viv Budge – you can message her on facebook (facebook.com/btcglobaltruth), she seems to be doing a great job exposing this and looks like she may have something going on with the authorities.
Pity people did not heed her advise earlier and many of the posts Ive just gone through were just posts criticizing and abusing her. Hats off to her she had nothing to gain.
It is amazing how much info you can find of these 4 on Facebook and Instagram. New cars, artic conversions on his pick up (Bakkie) and buying houses.
Johan van Wyk is another name that belongs with the other. All this info is out there, the wheel is turning and time is out.
Sorry guys i believe it is over and out gone no more 2 percent per day.
Thanks a lot for the info Trevor. I will get in touch with Viv. This whole incident makes me sick!
Ja those 4 names come up all of the time. The hawks will get them. Every transaction on the blockchain can and will be traced.
Cheri ward and clynton marks are engaged or husband and wife. Living the life these people. I’ll see if I can get more details on this guy from his bakkie’s registration.
So to all these people that praise their STEVEN Twain were is he now. Just this afternoon the Facebook page was active now it’s been deleted can’t find it and the website seems to also be completely shut down.
Please stop freaking people out. Fyi We got 5 % and the leaders have tried to update people.
Don’t start posting stuff without evidence!!! You are doing more damage than good.
Everyone knew the risk but blamkng people is unacceptable especially when you are not 100% sure it’s the right person.
I agree 100%. Chris nardes and trevor please get a life and stop with this nonsense. We did get paid just as they said. You guys muat start with a tea club and leave other poeple alone.
Paid paid or “numbers on a screen” paid?
There’s a big difference.
Look ozzy my money is already transferd to my bank acc. Chill boy.
What money? BTC you were supposed to be paid last Monday or a balance.
And nothing on the ROI rate being less than half? Y’all been thrown a bone. Classic gullible idiot tactic by scammers.
The ponzi victims are exactly that because they are begging to be abused. When they “invested” they were GUARANTEED 2% per day / 14% per week and that they could withdraw at any time.
The rules simply change and they are now receiving one third of the “guaranteed” weekly return and their money is trapped there.
Yes, they are JUBILANT today, singing the praises of their idol Steven Twain who does not exist and Cheri Ward and team who are the magicians that pulled through for them.
Shame on you… one therefore cannot be sympathetic when they lose ALL THEIR MONEY. Some of the fools are even leaving their returns in there so that Cheri Ward can “re-invest it” for them.
When the Ponzi finally disappears into thin air with all the money, it is unlikely that the police will assist these people as they are now PARTY TO THIS CRIME.
They should have simply insisted on the withdrawal of their money and if they did not receive it they could have laid charges.
It won’t be long before the police shut the scheme down and the money will be forfeited anyway. Well deserved!
I arrest my case I was right that steven twain’s Facebook page was deleted. As now there is a new one and it has nobody on it it’s a completely new one. But ja so be it.
Jessie. The members can not withdraw any investments until March 2018 or rather further notice.
They did get a 5% return this morning. BTC Global will not assign any new comers or any more investments by current members at this time.
The return on investment will be 5% a week until further notice. I do not know the reason why someone may not withdraw any invested amount, but that is what they were told.
Surely the whole thing will collapse if people now starts to withdraw. We do know that it is just a matter of time.
Well done however to BTC Global for trying to calm their investors, they are doing a great job here!
The people that criticized us for trying to warn them, I trust that you will apologize for your criticism soon.
It is just a matter of time. Do the mathematics or rather, get a bookkeeper to do it for you, so that you could see it can never word.
It is impossible to keep up without more investment and constant gaining by bitcoin in the markets. I will never blame you or laugh at you for what you did, I rather feel pity.
It is now too late already, you can not withdraw anything so prepare yourself for the bubble that will come soon.
BTC Global, please do the right thing. Give back there money even if it is 30 cents in the Rand! Just stop the whole thing now.
You also know that this can never work and you knew it all along!
I do not know why you have started this in the first place! The risk is not worth it. Please stop!
So everybody’s being paid meaningless numbers on a screen… yeah no I’m sure this will end well.
Out of curriosity, can your btc wallet be traced to you? for eg. Luno requires that you enter your details.
Therefor, should Cheri Ward and others be investigated, they could be prosicuted?
Unless publicly disclosed by the owner I believe it’s a task authorities can undertake but not so much the general public.
Well hello all, Alan Solarsh is behind a few more scams and Ponzis, two I am very familiar with that he has manipulated people to invest their hard earned money into such are Vortex and Ex’tre, which apparently are now gone and again, Alan Solarsh was a big part of these two scams!!
He needs to be buried and turned over to the authorities!! I think his involvement in greater than people would imagine and he appears to always have some sort of communication with Steven Twain and the Administration of BTC Global, maybe he is the mastermind behind BTC Global?? Only time will tell???
Mr. Passive Income Guru is nothing more then a Con Man who prays on people that are hungry for a better life and he’s like a thief in the night, stealing from them and vanishing with their money!!
It should also be known that Solarsh was asking people on another group forum to come onto this site and promote him and his works and give positive testimony to his investment schemes and scams, yet I have seen nothing here if that??
Maybe Alan everyone is really into you and soon it will be reversed on YOU!!!
Guys, I don’t know if this is true but Viv Budge was jailed over the weekend according to one of the promoters of BTC Global (facebook.com/PsJohanvanWyk).
Can anybody give more information what next because seems to me there’s millions of rands put into this scheme.
So it appears as if BTC global has shut down/vanished/ disappear today. No payments made today ref 5% return and unable to withdraw your initial capital ( 1000 us$ ) Some won and many lost.
I have opened a case of fraud against Cheri ward and her boyfriend. F@$cking scam bags.
There is a big difference Cheri ward between losing your investment and losing due to the ups and downs which we are all aware of.
You guys were accomplices in this as when everyone asked for details you didn’t want to give it up.
And there you go to all these big mouth that thought the sun doesn’t shine out of this f@&ker swains ass.
So I just spoke to my son that invested 100k and it is true. They are now gone and not responding!
We all knew this accept for some of the investors that refused to believe it, my son also argued with me that BTC will pay and that they were honest people. Why this and why that.
This is devastating news to many. The scumbags that did this to innocent people belongs in Jail.
I trust that the investors did after all learnt a lesson. When you get offered this return on investment then you should consider it very carefully.
Some of you have recovered your investment. I feel pity for the people that were last in. They have lost out and that is how it goes with this pyramid schemes.
Very Sad. Still was one of the new investors, was influenced did not do my homework, eater under the bridge….
I guess we were fooled by these scumbags living in the Westrand of Jozi. They have to choose between their lives and our money.
Market has recovered and the prize of bitcoins is going up. So why not continue. Besides, they have reduced the weekly payments to 5%.
So what’s is their problem still. If this is fraud, each fraud has its consequences.
Do they not have math where you live? A Ponzi scheme paying out more than is invested runs out of money sooner or later.
Bitcoin is not some magical “math doesn’t apply” magic.
They ask people to stop threats, harassment and violence on leaders and admin! what a joke!
Someone should walk in and rip them apart, put them behind bars!
This people was aware that the whole world was busy blowing whistles, they knew what was coming. They knew that Steven Twain was a lie. They now wants to play the innocent victims, they suggest that they did not know.
Please stop! Can you imagine the cheek they display!!!
Brigadier RM Makinyane
Section Head Serious Economic Offences Unit
(removed)
Thank you for the information GMB. Have a blessed day.
Hello. Can anyone tell me if there is a criminal case going on regarding the ppl behind BTC Global.
Is there anyone i can contact to help get my money back from those responsible?
My husband and I were also new investors, and yes we were warned about it being high risk ie the bubble could burst any time – fine, no problem, we get that. What weren’t expecting however was that ‘Steven Twain’ would take everything and do a runner.
I guess we were among the ‘lucky’ ones, only made the minimum investment, so it could have been a lot worse and we really feel for the people who are totally broken by this.
I see a lot of comments implying that it’s greed that makes people invest in something like this, but I feel that is somewhat unfair – you don’t know the circumstances behind the ‘why’ of the investment.
I’m very sure that we were not the only ones who thought that this may be (literally) a life-saving option.
Neither of us are in good health, my husband lost his job in September last year and has been unable to find another one, and I am stuck in a job I really hate just to try and help pay the rent and buy food.
We’re both around 60 years old, no pension worth a damn and no medical aid. So, as I said, seemed like a life-saver. Just my two cents worth too.
@Caz
Ponzi schemes collapse in different ways but always for the same reason: There’s no more money for you to steal.
BTC Global Team is a Ponzi scheme. The only “why” is to steal money from people who invest after you.
So you’re old, sick, poor scammers. Boohoo.
Your poor decisions in life don’t justify trying to steal money from others in a Ponzi scheme.
Ok Oz, I guess everyone is entitled to their own opinion. Fact of the matter is, yes we made a poor decision, but the person who introduced us to this scam really convinced us that it was legit.
If we’d done the homework that we should have done first there’s no way we would have touched it.
So, we may be gullible and have made a bad choice, but that doesn’t give you the right to be such a self opinionated prick about it. Thank you.
Facts are facts. Own up to your greed.
If you actually did the lightest of due-diligence you’d have seen otherwise.
Even old sick poor people should realize if there’s no legitimate source of revenue all you’re doing is stealing from people.
If you’re unhappy with your poor decisions in life that’s not my problem.
I can appreciate your situation but the second you try to justify financial fraud, sympathy = 0.
Oh yeah, everything else aside, just wondering – did everyone else have to invest through a certain Willie Breedt?
So does that mean you were told it’s a Ponzi, but you thought you had some time before it collapsed?
No Char we were not told its a Ponzi. As I said in a later comment, if we had any idea we wouldn’t have touched it.
We were just reeled in by someone who convinced us that it was a great investment opportunity.
Good day Oz. I personally think your comments are completely out of line.
Do you really suggest that all people who invested in this Ponzi scheme are guilty of stealing from others and that they are also fraudsters? That they were greedy?
I would rather suggest that they did not do their homework, that they were naive, that they trust other people too easily, that they were desperate to find a proper income and, and, and. I will however never suggest that they were greedy, that they stole from others and that they committed fraud.
The people that are greedy, that steels from other and that committed fraud are the people that runs the show!
The so called Steven Twain or the person that created Steven Twain.The so called team leaders and admin. They are the responsible ones!
It is not necessary for anyone to now insult the investors. I do agree that everyone is entitled to his own opinion however, in this case, I believe that you could keep you opinion for yourself. It is inappropriate to insult the people that lost their money!
Anyone who made money in BTC Global Team stole it from people who joined after them.
That doesn’t mean they’re necessarily net-winners but facts are facts.
A note if I may:
any money gained comes from the invested sum of later joiners and should be considered illegal gains.
The malicious intent (i.e. having been aware that the money is going to be gained through illegal means) needs to be shown in court if it goes to that.
Nardes – thanks for your post, it’s reassuring to see that at least one person out there can understand that not everyone who got involved in this is an underhand, scamming scumbag and I hope your son gets some recourse, 100k is a lot to lose in any currency, even Rands.
Oz – you’re not worth responding to. (Ozedit: Then don’t. Dummy spit removed.)
Everyone who invests in a scheme promising 909% per annum guaranteed returns knows the money is going to be gained through illegal means. By everyone I mean everyone.
Claiming you didn’t know is along the same lines as claiming you didn’t know sticking a knife in someone’s chest would kill them. Unless you’re going for an insanity verdict it’s not a defence. There’s a concept in law called reasonable belief.
Otto thank you for the positive note that you have made. I think you are spot on. I am sure that people who knew that the money was gained through illegal means will have to do some explaining.
This Ponzi schemes normally have a chain reaction and so many people try to convince others to get involved. That is why they offer the plan that you could earn even more when you sign up other people on your profile.
This inspire people to influence others and they now unknowingly become agents for BTC. They will also tell you anything just to get involved so that they could make more money.
It is also common practice that they firstly target family members and friends! When the bubble burst everyone is pointing fingers at everyone and all of a sudden your family and friends become your enemy!
The thing is that many people get involved, and it does not matter how they got involved, whatever Ponzi scheme that was offered, should not have been offered in the 1st place!
These schemes needs to be regulated by the authorities. They should be scrutinized and investigated once they get advertised or soon after that. If they do not comply with regulatory requirements they should be shut down immediately, and before anyone could get hurt.
I personally get warning from various people that scrutinize these people on a daily basis, and on any one day I do get more than six possible scam or Ponzi scheme warnings!
Why does the authorities do not act against these scammers before people get hurt? Why do they not shut them down?
They are everywhere, face book, google, instagram, watts app, e – mail systems, application downloads, everywhere in order to target innocent people into this scams.
Someone has written somewhere in his/her comment. The authorities usually waits until everyone has lost there money and until people lay charges before they react.
In most cases they could not apprehend the scammers or they do not know who is behind the scenes. People like Steven Twain will vanish because he does not exist!
Why, if you can clearly establish that some scheme is a scam or a Ponzi, do you not shut it down immediately? Do that within a couple of days directly after they start promoting the scheme.
This action will safe a lot of people their hard earned savings!!! I would say that anyone should stop pointing fingers, they should stop investigating after the bubble.
They should prevent this schemes to operate. Shut them down. Prevention is better than cure.
Malthusian the offer that was made was 2% a day however, when you re-invest, and did not take any of your weekly interest or whatever they called it, you will end up making far more than the 909% per Annum than what you suggest.
Secondly I do not agree that everyone knows that the money is going to be gained through illegal means. It remains to be seen that everyone would be found guilty of an offence, should they end up in court, and answers for themselves. It is also true that you could not claim that you were not aware that you committed an offence.
The question is, how many of these investors has committed an offence, and what offence has they committed?
Lastly you should clearly understand that each offence has a definition, and some elements has to be present before you have committed such offence. It is therefore unfair to submit that all these investors has committed an offence.
I clearly believe that in most cases you would not be able to convince a Court, that all the elements on any offence regarding this matter, was present. It is therefore clear to me that many of them were victims rather than someone who has committed an offence!
@Nardes: I stand corrected on the actual CAGR. It is always very difficult to pin a CAGR on a fraudulent investment scheme. Ask a scammer what the return is three times and you’ll get three different answers – “2% a day” “14% a week” “variable returns of 0.5% – 2.5% a day” etc.
By quoting the annual equivalent of 14% a week I was illustrating how absurd the idea is that anyone would reasonably believe that a scheme offering 909%pa (or 1,376%pa or whatever) was legitimate.
You can claim whatever you want in court, but “ignorance is no defence” is a legal principle that has been well established for centuries.
Fraud. When you induce someone to invest in a scheme and describe it as “guaranteed” when in fact it is certain to collapse and lose money for all but a small minority of investors, this is pretty much textbook fraud.
Passive investors who do not attempt to recruit anyone are still guilty of knowingly receiving the proceeds of crime.
It may well be that many BTC investors will never even see the inside of a courtroom – fraud offences are notoriously difficult to prosecute, and the authorities generally prefer to focus on rape, murder and robbery. But that doesn’t change the nature of the act.
I think of MLMing similar to drunk driving. It is harmful, but they only catch you if you crash or are driving erratically.
People drink drive all the time and don’t get caught; and think somehow it’s okay, and then the worst happens.
Now take that to the next level and imagine these people thinking only one particular brand of alcohol caused the crash, and they switch brands and go driving again when the act of driving under the influence is the real issue.
Pretty silly, but that’s what MLMers do for a career – keep “recruiting” (drink driving) whilst changing brands. Absurdity at its best.
I can’t help but wonder if ‘Caz’ is a habitual offender, or this is his/her first MLMing rodeo? I’m always willing to give a little slack to newbies because MLM scammers have perfected their game so much that they have brainwashing down to a science.
Malthusian. This was very well explained. I also believe that you are 100% correct! This obviously means that the investors should rather keep quit and not lay any charges? Besides form teaching people, and advertising that people should not get involved in this schemes, I still believe that the best way to deal with this is to prevent is from happening.
I also believe that someone, (the authorities?) should investigate all this schemes and prevent them form doing business in the first place.
I do not believe that it is fair to just keep on allowing this, because people should do the right judgement, and make the right decisions in life. Some of them can not do this and are furnerable!
There are hundreds, if not thousands of these scams running at any given time. Most of them are dead and gone long before authorities even know about them. And then new ones pop up.
IMO, naive, stupid, greedy, desperate people willfully handing money over to entities domiciled in who knows where is very low on the authorities’ priority list.
While the scammers who launch these things and the promoters who create the momentum should be held accountable, the “victims” also need to accept their own responsibility.
While Oz may be an “opinionated prick”, the poor lad is living the anti-scam version of the movie Groundhog Day.
I fear that his poor temperament is being affected by repeatedly banging his head against the wall. Been there, done that, and have the cranial fractures to prove it. 😀
Rule #1 of running BehindMLM, never take anything personally.
You can’t get emotionally invested in any of the companies or people who lose money in them, there’s just too many of them.
The upset victims hurling abuse at you over a scam you published a review about a year ago today will be replaced by new victims of a new scam in a few weeks. Round and round it goes.
@Char
Nope, definitely not a habitual offender – first and last time. Will have to write off what we’ve lost to experience and make damn sure we don’t get suckered into anything like this again.
Well thats not gonna happen anyway, all the extra cash we could spare went to BTC / ‘Steven Twain’ and it all went belly-up before we recouped anything.
This is my last word on this subject, but you can all rest assured that we have learned a very valuable lesson from this and will definitely do some homework to make sure of the legitimacy of anything we may consider investing in in the future – if we can ever afford to!!!!
WHERE IS STEVEN NOW — WITH OUR MONEY? Fraud!
Anyone who got caught out by this lot need to get in contact with the Directorate for Priority Crime Investigation (Hawks) in South Africa – saps.gov.za/dpci/index.php
They are investigating complaints and will need as much info as possible to get at the people behind this scam.