Circle of Finance Review: INV Ponzi points OneCoin spinoff
Reflecting the executive experience of those running it, Circle of Finance’s corporate structure is a convoluted mess.
For the most part I’m just going to refer to the opportunity as Circle of Finance, but for reference here are the schemes components:
- Circle of Finance – appears to be an umbrella company (???)
- TradeInvicta – internal cryptocurrency exchange
- TrebleU – MLM side of the business
- DealsInvicta – ecommerce platform
There might be additional components I’ve missed, but these were the ones I came across when putting together this review.
Heading up Circle of Finance are newlyweds Veselina Valkova and Habib Zahid.
Valkova and Zahid are OneCoin Ponzi veterans.
Valkova worked in OneCoin’s head office in Sofia, Bulgaria. Zahid was a top promoter of the scheme.
After OneCoin Zahid has taken to going by Habib Abdul Rehman.
Since US authorities began cracking down on OneCoin and making arrests, the couple are believed to be hiding out in Dubai.
Note however that I haven’t seen any recent confirmation of this.
The rest of Circle of Finance’s corporate structure hasn’t been publicly revealed. The only affiliates promoting the scheme appear to all be former OneCoin investors.
Read on for a full review of Circle of Finance’s MLM opportunity.
Circle of Finance’s Products
Circle of Finance has no retailable products or services, with affiliates only able to market Circle of Finance affiliate membership itself.
Circle of Finance’s Compensation Plan
Circle of Finance affiliates invest funds in INV tokens. Commissions are paid when they recruit others who do the same.
Through TrebleU, Circle of Finance offers five investment tiers:
- Forex Introduce – invest €250 EUR and receive 35 INV tokens
- Forex Trader – invest €950 EUR and receive 130 INV tokens
- Forex Impact – invest €1950 EUR and receive 350 INV tokens
- Forex Professional – invest €2950 EUR and receive 600 INV tokens
- Forex Winner – invest €3950 EUR and receive 950 INV tokens
Additional INV tokens can be acquired through the InvictaTrade internal exchange.
Depending on the initial investment amount made (as per the tiers above), a bonus of up to 15% on directly invested in INV tokens is available.
Due to the MLM side of Circle of Finance being run through TrebleU, I believe MLM commissions are only paid out on initial investment.
Circle of Finance Affiliate Ranks
There are seven affiliate ranks within Circle of Finance’s compensation plan.
Along with their respective qualification criteria, they are as follows:
- Iron – personally recruit two investing affiliates and generate 10,000 GV in binary team volume (split 5000 GV on both sides)
- Copper – personally recruit two Iron ranked affiliates on both sides of the binary team and generate 35,000 GV in binary team volume (15,000 GV min in weaker side volume)
- Silver – personally recruit two Copper ranked affiliates on both sides of the binary team and generate 120,000 GV in binary team volume (50,000 GV min in weaker side volume)
- Gold – personally recruit two Silver ranked affiliates on both sides of the binary team and generate 250,000 GV in binary team volume (120,000 GV min in weaker side volume)
- Diamond – personally recruit two Gold ranked affiliates on both sides of the binary team and generate 500,000 GV in binary team volume (200,000 GV min in weaker side volume)
- Platinum Diamond – personally recruit two Diamond ranked affiliates on both sides of the binary team and generate 1,000,000 GV in binary team volume (400,000 GV min in weaker side volume)
- Pearl Diamond – personally recruit two Platinum Diamond ranked affiliates on both sides of the binary team and generate 2,000,000 GV in binary team volume (1,000,000 GV min in weaker side volume)
Recruitment Commissions
Circle of Finance affiliates are paid 10% of funds invested by personally recruited affiliates.
Residual Commissions
Circle of Finance pays residual commissions via a binary compensation structure.
A binary compensation structure places an affiliate at the top of a binary team, split into two sides (left and right):
The first level of the binary team houses two positions. The second level of the binary team is generated by splitting these first two positions into another two positions each (4 positions).
Subsequent levels of the binary team are generated as required, with each new level housing twice as many positions as the previous level.
Positions in the binary team are filled via direct and indirect recruitment of affiliates. Note there is no limit to how deep a binary team can grow.
At the end of each day Circle of Finance tallies up new investment volume on both sides of the binary team.
Affiliates earn 7% of volume generated on their weaker binary team side.
- Iron ranked affiliates can earn up to €1900 EUR a week
- Copper ranked affiliates can earn up to €3800 EUR a week
- Silver ranked affiliates can earn up to €7800 EUR a week
- Gold ranked affiliates can earn up to €11,800 EUR a week
- Diamond ranked affiliates can earn up to €20,000 EUR a week
- Platinum Diamond ranked affiliates can earn up to €25,000 EUR a week
- Pearl Diamond ranked affiliates can earn up to €35,000 EUR a week
Once paid out on, funds are matched against the stronger binary team side and flushed.
Any leftover volume on the stronger binary team side is carried over.
Rank Achievement Bonus
Circle of Finance rewards affiliates who rank qualify with the following bonuses:
- Iron – €250 EUR
- Copper – €600 EUR
- Silver – €1500 EUR
- Gold – €300 EUR plus new Forex Professional investment position
- Diamond – €5000 EUR
- Platinum Diamond – €15,000 EUR
- Pearl Diamond – €30,000 EUR
Joining Circle of Finance
Circle of Finance affiliate membership requires an initial €250 to €3950 EUR investment:
- Forex Introduce – €250 EUR
- Forex Trader – €950 EUR
- Forex Impact – €1950 EUR
- Forex Professional – €2950 EUR
- Forex Winner – €3950 EUR
Conclusion
Circle of Finance’s apple hasn’t fallen far from the OneCoin tree.
In essence Circle of Finance is OneCoin, TrebleU is OneLife, DealsInvicta is DealShaker and TradeInvicta is Xcoinx.
Instead of copy and pasted Wikipedia articles on cryptocurrency, Circle of Finance bundles forex education with its investment packages.
The rest is basically a 1:1 clone of OneCoin, prior to the internal exchange shutting down in early 2017.
Given who’s involved, this is hardly surprising.
INV tokens are assigned an arbitrary value within Circle of Finance. They are not publicly traded by design.
INV tokens initial internal value was €1.20 EUR. The current internal value is not published on any of Circle of Finance’s websites.
When recruitment runs dry Circle of Finance will probably trot out the public exchange ruse, although given OneCoin had difficulty pulling this off maybe not.
One thing Circle of Finance has going for it is these days there’s a much larger pool of dodgy exchanges to exit-scam through.
On the regulatory front those involved in Circle of Finance seem aware they might be persons of interest in the US OneCoin investigation.
To that end promotion of Circle of Finance is banned in the US:
Not that that did OneCoin any good.
As with OneCoin, Circle of Finance will operate until new investment runs dry or Valkova and Zahid want to pull a runner.
At that point the internal exchange shuts down. If the public exchange exit-scam model is chosen, this will also be the time INV tokens appear on a dodgy public exchange.
Once listed the public INV token value crashes and that’s that. Real money invested is paid out as recruitment commissions, with the rest kept by Circle of Finance.
OneCoin’s own collapse was much more simpler. The internal exchange was shut down and desperate investors were fed lies for years.
Recruitment commissions were paid out but as recruitment collapsed the world over, management went dark and top recruiters, like Habib Zahid, abandoned ship.
At this point it’s difficult to say whether Circle of Finance will go the public exchange exit-scam route or follow OneCoin.
If it’s the latter, expect DealsInvicta to be used in the same manner DealShaker was (and then similarly abandoned).
What we can say with certainty is that however Circle of Finance ultimately plays out, like OneCoin the majority of investors will lose money.
Let’s name and shame the Australian/Indian company which is co-conspirator in this fraud:
Espay Pty Ltd
facebook.com/Espayexchange
espay.exchange
espay.in
Invicta has two ERC20-addresses associated with the scam, which don’t show many transactions and addresses, further indicating it’s all a big sham:
etherscan.io/token/0x5FF9D6eD45943d0eFd5803B3eC4f9Ec92Bae2e57
etherscan.io/token/0xfA2D8Bc7FEef152474D2c2b0674635b15CCdC631
In early March the contract source code still had “Espay Pty Ltd” as the author but they have now changed it to “TradeInvicta”:
etherscan.io/address/0xfA2D8Bc7FEef152474D2c2b0674635b15CCdC631#code
If you don’t believe me, you can compare the contract source code to the that of this Espay’s othet custormer, and see that they are indentical:
github.com/sefaakca/Dataset/blob/master/CoolDex.sol
Just came across this screenshot of Habib’s Onecoin resignation.
1.bp.blogspot.com/-KKJDK5pyty4/XYI_jgtdpLI/AAAAAAAADEw/KllCejl80QQmB2A2qZMQLesevPMeL65KACNcBGAsYHQ/s1600/habib_zahid_resign.jpg
John,
Habib is also a compulsive liar. He probably found real work too slow and above his ability.
Yes, of course. I posted this merely for entertainment purposes; and for those who consider investing in any of his scams.
I think everyone needs to give a fair assessment of what is being proposed here. Lots of mistakes where made in the past with OC and others.
Let hope those mistakes are remedied with this company and their management team.
Based on Circle of Finance’s business model, it’s a 1:1 OneCoin clone.
A Ponzi scheme isn’t a “mistake”. It’s fraud by design and these scammers know exactly what they are doing.
Maybe you need to look up the definition again of what a “Ponzi Scheme” is. Here, let me help you. See below.
I think jumping to conclusions about anything is “biased” journalism. It will reflect the quality of your information which a lot of people depend upon as a true source.
investopedia.com/terms/p/ponzischeme.asp
Nah I’m good. A Ponzi scheme is when newly invested funds are used to pay existing investors.
Following in OneCoin’s footsteps, this is what Circle of Finance does through their internal TradeInvicta exchange.
As for jumping to conclusions, I went over Circle of Finance’s business model and spelled out the fraud. Just like I did with OneCoin in 2014.
Denial much?
Incorrect. A “ponzi scheme” is set to fail from the start. Since they just started you are jumping to conclusions.
This kind of journalism is doing a disservice to everyone who subscribes to this blog.
A Ponzi scheme by definition will inevitably collapse. What defines a Ponzi scheme is not the fact that it will inevitably collapse, but rather new investment is used to pay existing investors.
That’s it, that’s all a Ponzi scheme is.
Any conclusions drawn are based on Circle of Finance’s publicly available business model.
You’d have probably said the same thing back in 2014 about OneCoin.
Many people lost all their money because of these two devils.
Some are planning to murder these two.
One bullit in the head and its all over.
Never mess with the wrong people.
its a matter of time……
@Brutallytrue
You are a moron or part of this scam. It is a scam. It looks, smells and is OL all over again.
Habib is a crook, Veselina is a flake. End of.
Sounds like you invested heavily into this.
Denial is hard isn’t it?
If a company that starts and fails is considered a “Ponzi Scheme” (Ozedit: A Ponzi scheme exists because of its business model, not whether it fails. Derails removed)
@rocky
Takes one to know one. Can you say you stayed in Bulgaria for 3 months in a hotel everyday to find out the inside story of OC and try to fix the mistakes?
No! so you know nothing and just sit there and criticize. It’s easy where you are. Do you have proof of your accusations about V and H. If so, put it in this chat.
@Terrence B; I agree. Biased and poor journalism. Let’s just say you don’t know anything as well.
@vladimir
Are you making death threats? Is that what this blog is for now?
You should be very careful.
Brutallytrue = Mark Nishiyama, hence the “yOu DoNt KnOw AnYtHiNg!” rhetoric.
businessforhome.org/2017/05/mark-and-miki-nishiyama-achieve-200000-per-month-with-onelife/
Just so y’all know who you’re dealing with. He’s spent the last few days trying to convince me Circle of Finance isn’t a OneCoin clone via email.
@Oz
Oh, so we are using people “personal information.” NOW, even though you are totally wrong. Crickets.,..
Shows the level great journalism here, Someone wants to tell the truth here and you share someone’s personal to try to silence them. A lot of people really will be excited to join this blog now.
Anyone want to try anything, BRING IT.
What personal information? You contacted me by email.
If you’re going to bring up your working with OneCoin corporate to talk down readers (#15), I think people should be aware of who they’re dealing with.
You outed yourself by bringing up your connection to OneCoin corporate.
You’re a scammer mark. You stole hundreds of thousands (millions?) from OneCoin victims. Now you’re pushing another clone Ponzi scheme.
Own your thievery. And hopefully one day the law catches up with you too.
@ Mark aka Brutallytrue
You’ll find a lot of people know a lot more than you would ever feel comfortable about.
There are many angry people in Sofia alone who lived the “inside story” of OneLife for a lot longer than three months and are eager for it not to be repeated but can share every little detail of who did what.
You cannot fix a scam. Especially by repeating it. No doubt more detail will come out here but if I were you, I’d be more worried about what the likes of the BBC are going to do when they find out about this little clique of righteous scammers farting against the wind.
Do you really believe the Ignatov family are going to let your leaders get away with what they took? Do you believe law enforcement are not worried that the rotten seeds from a major financial scandal have been replanted?
Do yourself a favor and get away and get a real job that doesn’t screw people.
Rely goes to show what corrupt and utterly garbage excuses for human beings “top scammers” are, not even an ,
-thanks Oz, for your hard work and consistency helping people avoid and understand Scams like onecoin,
-Thanks Oz for giving information i needed to change my ways and not spend eternity as a garbage pice of shit stealing monies from the naive and greedy, again, in this new scam, thats exactly like the last scam,
truly Brutallytrue and/out Mark N, you will get buttpounded for eternity in the afterlife. (and whit a bit of luck and the help of your victims in this)
Excellent reply Lord, (Ozedit: yeah that’ll be a no on racism thanks)
Via email (from Mark):
I don’t recall ever saying anything to that effect to Mark. He just started commenting here on his own after the Circle of Finance review was published.
Not withstanding Nishiyama outed himself in #15 before I simply provided his name.
Also received via email (not Mark):
Over to you Mark.
I was never able to figure out whether that preposterous bit of nonsense showed just what a low opinion of their target audience’s intelligence was held by the people who made it up; or whether the people who made it up were so deeply stupid themselves they didn’t realize how nonsensical it sounds.
Did nobody who they told it to ever ask them: which country’s central bank are you talking about?
@Passingby
They were called out on this one repeatedly. Of course no central bank would deal with them.
The weekly reports about side visits, sight visits, and then site visits were absolute BS that they probably began to believe themselves.
Remember Dursan Torbica telling everyone to give OneCoin a 5-star rathing on Trustpilot and praise it on facebook because the “central bank” would be impressed?
It appears Habib Zahid has published some kind of avantgardist poem on the subject of “haterz”:
youtube.com/watch?v=mRbiehqWKCE
It’s amusing as most of what he’s written applies to OneCoin scammers such as himself. It’s almost as if he’s self-aware.
Almost.
Mark Nishiyama sent me invitation email to something called Alcore.
He said that he is no More in Crypto MLM. Apparently he is now passive investor in Invicta and OneCoin but promoting another scam… Scanners does not change…
Nishiyama hasn’t been involved in “crypto MLM” so much as he has Ponzi MLMs.
Alcore is no different.
Things aren’t going so well for Mark Nishiyama.
QubitTech is of course another MLM cryptocurrency Ponzi scheme.
An interesting video. Uploaded by Mark Nishiyama (Future Masters Crypto Millionare) on March 20, 2020 with the reference: “copyright Future Masters“.
share-your-photo.com/c5142fa760
share-your-photo.com/6ad9551cc5
youtube.com/watch?v=LH1tfLekmzM
Of course, there is no evidence that Veselina Valkova and Habib Zahid are former OneCoin scammers.
Besides, this notorious liar spelled Veselina’s name completely wrong. Was Nishiyama drunk when he produced this video?
share-your-photo.com/4140bf682a
As with fraud with OneCoin, of course everything is REAL here and another FINANCIAL REVOLUTION. As usual in MLM, superlatives are used again …
share-your-photo.com/fc2d4dcefa
Here’s another piece of evidence that Habib Zahid and Veselina Valkova created some sort of copy of the OneCoin scam.
share-your-photo.com/2f92249136
We know the term “gift codes” from OneCoin fraud. We remember the following websites:
giftcodeshop.eu and giftcodefactory.com
share-your-photo.com/4768b2b091
share-your-photo.com/218abdbfac
Habib Zahid and Veselina Valkova offer their so-called “gift codes” on the website codefactoryshop.com. Sounds similar, doesn’t it?
Important message! Veselina Valkova and Habib Zahid have updated their scam portal tradeinvicta.com. It looks much more serious now than in the past!
share-your-photo.com/8d87b64e3a
Will Habib Zahid get involved in the OneCoin scam again? I think so when I read this comment under a OneCoin video from September 21, 2020.
share-your-photo.com/ab67856e29
youtube.com/watch?v=uE_JSDBSgiQ
It is common knowledge that serial scammer Habib Zahid sometimes changes his name. Here is another example:
share-your-photo.com/aafbbd4a34
Why is Zihad’s fraud portal codefactoryshop.com still online? Did he forget to delete that?
I cannot access his personal website habibzahid.com because my virus protection program warns:
share-your-photo.com/3dec351663
Melanie, your browser is heavily messed and overloaded with incredible amount of opened tabs. How can you handle it? 😉
BTW, trade invicta web does work for me (landing page is loaded with some visible content).
@ Mr. Czech
My browser looks like this every day. Behind each tab there is a topic that I want to write about.
The strange thing is that today I can reach the tradeinvicta.com scam portal. A quick quote from this page:
share-your-photo.com/43384f5ac4
As usual with fraudsters, the page does not contain any legal information or contact details.
For comparison: Habib Zahid mentions Thailand on his scam portal trebleu.com:
share-your-photo.com/a64f5b696b
I can’t find an imprint, only two email addresses and two phone numbers in Thailand:
share-your-photo.com/3641e1a677
Habib Zahid only has 130 subscribers on YouTube. He has uploaded 51 videos since April 5, 2020, the last on July 22, 2020. His attempt to start his own scam has obviously failed.
share-your-photo.com/b11ccb8c40
youtube.com/channel/UCzTV47wDI281w1bFrEVc7dQ
The websites for this scam no longer exist. Has Habib Zahid started a new scam? Video from January 11, 2022:
share-your-photo.com/5553179159
Below the video a list with numerous links:
share-your-photo.com/5f5147f201
youtube.com/watch?v=b0neSEN5A7I
The new websites: t99tokens.com and t99next.com
The “White Paper” with 23 pages:
secureservercdn.net/160.153.137.163/kz0.08c.myftpupload.com/wp-content/uploads/2021/11/T99-Token-Whitepaper-eng.pdf
DealsInvicta now calls Habib Zahid Utanzaa (utanzaa.com). The website is parked free of charge with GoDaddy.
The new scam on Twitter:
share-your-photo.com/e53eb1ab30
twitter.com/T99_Official
The new scam on Instagram:
share-your-photo.com/32721deada
instagram.com/t99.official
This YouTube channel has existed since October 2021 without any concrete information:
youtube.com/channel/UCYIBETNYCEh0hFqzKMAmdpA/videos