EvoRich Review: Skyway Capital Ponzi spinoff bumbles along
EvoRich is a spinoff of the long-running Russian Ponzi scheme, Skyway Capital.
Heading up EvoRich is Andrey Khovratov (aka Andrii Khovratov, Andrei Khovratov), a former Skyway Capital executive.
Khovratov is/was part of Skyway Capital’s inner-circle. In 2017 Khovratov filed a defamation lawsuit against a Russian media outlet on behalf of Skyway Capital.
He lost the case.
In July 2017 Khovratov threatened another media outlet in Crimea after they published an article critical of Skyway Capital, bringing up Anatoly Yunitskiy’s own unsuccessful lawsuit against a Belarus media outlet.
Yunitskiy put Khovratov in charge of Skyway Capital’s transition to cryptocurrency in 2017.
The man on the right in the screencap above is Anatoly Yunitskiy, the founder of Skyway Capital.
Skyway Capital was initially going to launch Skyway tokens. As the months and years dragged on however, those plans changed to CryptoUnits.
BehindMLM first documented Skyway Capital jumping on the crypto Ponzi bandwagon in March 2019.
In line with Skyway Capital creating dozens of shell companies to run each ruse they come up with, eventually NEEW was introduced.
NEEW stands for “New Economic Evolution of the World” and, as the base of Skyway Capital’s crypto fraud efforts, Yunitskiy appointed Andrey Khovratov as Founder and CEO.
In February 2020 Skyway Capital announced it was ditching NEEW. The company, now presented as a fully standalone opportunity, was handed over to Khovratov to run independently.
At least that’s what happened on paper. A few scenarios come to mind:
- Yunitskiy and Khovratov had a disagreement/fight and decided to split;
- Khovratov and Yunitskiy reached a backroom agreement through which Khovratov paid Yunitskiy for permission to run NEEW as a standalone company; and/or
- Yunitskiy had had enough of NEEW going nowhere and wanted to create a new Ponzi ruse to keep Skyway Capital going, so ditching NEEW was in his best interest.
Take your pick.
The “official” reason given is, despite NEEW being just one of many Skyway Capital’s shell companies that Khovratov was appointed internally to run, that the two companies were always separate and this was just the end of a contractual partnership.
Hardly convincing given evidence of Khovratov being a Skyway executive dating back to the Ponzi scheme’s launch in 2011.
But hey, since when have Ponzi backstories had to hold up to scrutiny?
After the Skyway exit-scam, Khovratov rebranded NEEW as “Academy of Private Investor Opportunity” (I’m assuming that sounded less hokey in Russian).
This coincided with a NEEW scam warning issued in New Zealand in June 2020.
Academy of Private Investor Opportunity seems to have lasted till the fourth quarter of 2020, during which EvoRich was introduced.
EvoRich is another rebranding. Perhaps there’ll be another one in a few months. Who knows.
As with Skyway Capital Khovratov runs EvoRich through a series of shell companies, the most prominent of which is UGPay Group AG, a Swiss shell company.
Khovatov himself is based out of Belarus, Ukraine and/or Russia. They don’t get into specifics.
Read on for a full review of EvoRich’s MLM opportunity.
EvoRich has no retailable products or services, with affiliates only able to market EvoRich affiliate membership itself.
EvoRich’s Compensation Plan
EvoRich does not provide a copy of its compensation plan on its website. As such, the following analysis has been put together from an affiliate presentation dated mid 2020.
EvoRich affiliates invest in WCRU tokens. The current internal WCRU price is set based on total accumulated WCRU investment:
I. Stage 10-30 billion WCRU tokens with a price of $ 0.001 -0.3 $ 12-36 months.
II. Stage 10-25 billion WCRU tokens with a price of $ 1 -100 $ 12-24 months,
III. Stage 1-10 billion WCRU tokens with a price of $ 100 -1000 $ 12-24 months.
IV. Stage 1-10 billion WCRU tokens with a price of $ 1000 -2000 $ 12-36 months.
EvoRich do not disclose which stage WCRU is currently being invested in at.
On the MLM side of things, EvoRich’s compensation plan pays affiliate investors for recruiting new affiliate investors.
Note that EvoRich doesn’t pay commissions in real money. Instead USDU is used.
USDU is a shit token EvoRich creates on demand. The company claims “each USDU coin is backed by the US dollar” but provides no verifiable evidence of such.
Note that some MLM commissions appear to be paid in WCRU too, as indicated by a whitepaper provided on the CryptoUnit website;
540 days of freezing after receiving WCRU tokens in the form of an MLM bonus or in the form of accrual according to the results of promotions, sweepstakes, air-drops and other marketing events.
“Freezing” means the tokens are locked up and can’t be cashed out. Directly invested in WCRU tokens are locked up for 365 days.
EvoRich Affiliate Ranks
There are eight affiliate ranks within EvoRich’s compensation plan.
Along with their respective qualification criteria, they are as follows:
- Partner – invest in 30 to 200 WCRU
- Agent – invest in 50 to 300 WCRU and have recruited two affiliates who have each invested in at least 200 WCRU
- Consultant – invest in 300 to 1000 WCRU and have recruited four affiliates who have each invested in at least 200 WCRU
- Manager – invest in 1000 to 10,000 WCRU and have four Consultants in your downline
- Leader Manager invest in 5000 to 20,000 WCRU and have four Managers in your downline
- Top Manager – invest in 10,000 to 50,000 WCRU and maintain four Managers in your downline
- Vice President – invest in 50,000 to 100,000 WCRU and have two Top Managers in your downline
- President – invest in 100,000 to 1,000,000 WCRU and have two Vice Presidents in your downline
You’ve probably noticed some WCRU investment overlap between the ranks. These discrepancies are not explained.
Also unclear is whether required ranked downline affiliates have to be personally recruited.
EvoRich affiliates park WCRU tokens with the company.
This is done because doing so pays the following returns:
- over 1 to 180 days 1% is paid out every 30 days
- over 181 to 365 days 1.5% is paid out every 30 days
- over 366 to 545 days 2% is paid out every 30 days
- over 546 to 730 days 3% is paid out every 30 days
- over 731 to 1061 days 5% is paid out every 30 days
It is unclear whether returns are paid out in WCRU or USDU.
EvoRich pays residual commissions 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.
Residual commissions are paid out as a percentage of funds invested in WCRU across the unilevel team.
How many levels residual commissions are paid out on is determined by an affiliate’s rank:
- Partners earn 8% on level 1 (personally recruited affiliates), 5% on level 2 and 3% on level 3
- Agents earn 8% on level 1, 7% on level 2, 4% on level 3 and 3% on level 4
- Consultants earn 8% on level 1, 7% on level 2, 5% on level 3, 4% on level 4, 3% on level 5 and 2% to 3.5% on levels “6 and more”
- Managers earn 8% on level 1, 7% on level 2, 5% on level 3, 4% on level 4, 3% on level 5 and 4% to 5.5% on “levels 6 and more”
- Leader Managers earn 8% on level 1, 7% on level 2, 5% on level 3, 4% on level 4, 3% on level 5 and 6% to 7% on “levels 6 and more”
- Top Managers earn 8% on level 1, 7% on level 2, 5% on level 3, 4% on level 4, 3% on level 5 and 7.4% to 7.8% on “levels 6 and more”
- Vice Presidents earn 8% on level 1, 7% on level 2, 5% on level 3, 4% on level 4, 3% on level 5 and 8.2% to 8.6% on “levels 6 and more”
- Presidents earn 8% on level 1, 7% on level 2, 5% on level 3, 4% on level 4, 3% on level 5 and 9.1% to (percentage amount blocked in presentation) on “levels 6 and more”
Whether “levels 6 and more” goes down to infinity or is a generational bonus is unclear.
Rank Achievement Bonuses
EvoRich appears to have Rank Achievement Bonuses. They weren’t disclosed in my primary compensation source material but I did come across them in limited time promotional material.
Due to the limited time nature of that content, I’m not sure if the bonuses are always offered.
Upon reaching $10 billion invested into CRU, EvoRich is touting a 12% to 35% “dividend” paid to investors:
Target Asset Level is $ 10,000,000,000 or more From 12 till 35% is planned for dividends Token holders will vote to determine the percentage of profit payable on dividends.
The ridiculous amounts are reminiscent of SkyWay Capital’s original 22% a month Ponzi ROI offer.
EvoRich affiliate membership is tied to investment into WCRU.
From the marketing presentations I’ve seen, the current minimum WCRU investment amount appears to be 30.
What that equates to in USD is based on company-wide investment, which is not publicly disclosed.
Like Skyway Capital, EvoRich is shaping up to be another convoluted Ponzi mess. If it isn’t already.
One my sources for this review was a November 29th presentation by Andrew Twelftree.
Twelftree is a middle-aged Australian divorcee now living in the Philippines.
He’s been around since the Skyway Capital days (joined ~2 years ago), and cites himself as an EvoRich President and Ambassador Council Member.
In a nutshell, Twelftree has been making a living over the past two years by convincing people to invest in CRU/WCRU.
Twelftree promotes EvoRich by pushing banking conspiracy theories, a common Ponzi marketing angle (quoted verbatim):
Now if you’ve ever thought that the government and the banks actually want you to fail, you’re probably right.
They do not benefit from your succeeding. They want to keep you in debt and in need.
What do you think the (COVID-19) lock downs are over? Hmm big question there.
Prior to his involvement in Skyway Capital, NEEW and now EvoRich, Twelftree was a disgruntled construction worker.
To be clear regardless of what you think of traditional banking and governments, that isn’t a justification for Ponzi schemes.
Also implying that pandemic lock downs are part of some conspiracy to keep people in debt, with a Ponzi scheme pushed as the only out, is despicable.
As late as November 2020 CRU was still being promoted. I’m not sure if Khovratov forked CRU to create WCRU, or they just ran the shitcoin script to generate a new coin.
All of the EvoRich shit tokens are run off the EOS blockchain (think ethereum and ERC-20). These are trivial to set up and create and can be done on demand.
At present there are four EvoRich shit tokens I’m aware of; CRU/WCRU, UNTB and CryptoUnit USDU.
CRU/WCRU has been the main focus and was introduced in 2018. It has a soft cap of 80 billion tokens.
Andrey Khovratov creates WCRU on demand through Cryptounit Inc, a shell company supposedly incorporated in the British Virgin Islands.
EvoRich’s marketing material states:
One token of CRYPTOUNIT (WCRU) is equal to one share of Cryptounit Inc. BVI.
Unit Token of Blockchain or UNTB appears to be a recent addition and functions as a stablecoin (missed “CruDollar” or CRUD branding opportunity there).
For whatever reason (an atrocious name?), EvoRich abandoned UNTB and issued USDU in its place.
EvoRich claims “each USDU coin is backed by the US dollar” but provides no verifiable evidence. Another bullshit Skyway marketing claim to throw on the pile.
The reason EvoRich doesn’t pay out in actual money is because, like CRU and WCRU, UNTB costs Kharatov little to nothing to generate on demand.
USDU is only worth $1 a piece as long as EvoRich wants to pay withdrawal requests through their internal exchange.
Getting back to Andrew Twelftree, in his November 2020 presentation he claims WCRU is “about to launch” on a public exchange.
Almost two months later, as far as I can tell that hasn’t happened.
Even if it did though, it just provided Khovratov the public exchange exit-scam route. Public trading of a shitcoin works out well for admins and top promoters.
Not so much for investors left holding the bag.
According to Twelftree, UGPay Group AG is made up of “sixty companies” and was recently ‘revalued at $15.132 billion valuation’.
Naturally, specific details aren’t provided.
Twelftree also claims;
[3:48] The due diligence process just got a whole bunch easier because we are now SEC regulated. Very exciting.
This is stated to imply that EvoRich, through UGPay Group AG, is registered to offer securities in the US.
This is important because, in Twelftree’s own words, EvoRich is offering securities;
[8:56] Just for holding these tokens, you earn monthly income.
The more you hold, the bigger the income.
Here’s the thing, while UGPay Group AG is registered with the SEC, it’s meaningless.
- As previously mentioned, UGPay Group AG is a Swiss shell company, it doesn’t exist outside of a front for EvoRich investment;
- The securities offering is registered through EvoRich, which is not registered with the SEC;
- UGPay Group has made one August 27th filing with the SEC, a Notice of Exempt Offering of Securities.
There is no mention of EvoRich or its CRU/WCRU investment opportunity anywhere in UGPay Group AG’s filings.
This means that UGPay Group AG having registered with the SEC is meaningless. EvoRich is not registered to offer securities in the US, or anywhere else in the world.
UGPay Group AG hasn’t disclosed its Ponzi scheme because, even for a Russian national, disclosing a Ponzi scheme to the SEC isn’t a smart idea.
Not that the SEC couldn’t launch its own investigation, but getting into hypotheticals I can’t confirm either way is pointless.
Also not disclosed in UGPay Group AG’s filings is any of the ridiculous external revenue claims made.
Instead of correctly disclosing it as a Skyway Capital Ponzi spinoff, the narrative is that partnership between Skyway Capital and NEEW came to an end.
After Skyway Capital the new marketing ruse to pitch EvoRich is Innovation Basalt Technology.
Innovation Basalt Technology’s website domain (“ecobasalt.eu”) was registered in September 2019, through a Polish address.
The company’s website receives no traffic and is hosted in the Ukraine.
Last I remember Skyway Capital was pushing some nonsense about space trains. It seems Andrey Khovratov is going to mimick Yunitskiy in coming up with periodic marketing ruses.
Seeing as Khovratov was a Skyway executive, that shouldn’t come as a surprise.
All in all while EvoRich is building up just as much a convoluted history as Skyway Capital, at its core it’s just another MLM crypto shit token Ponzi.
When Khovratov and friends decide to cash out, it’s over.
Like Skyway Capital, the Ponzi math behind EvoRich guarantees the majority of affiliate investors will eventually take a loss.
Update 1st September 2021 – Andrew Twelftree has deleted the cited November 29th video from his YouTube channel.
Update 3rd April 2022 – Andrew Khovratov has been arrested in Russia.
What a mess. It’s like they just keep on piling on layers of bullshit until no one is really sure what they’re selling. Is it “investment” in a new transportation system? A new shitcoin? An investment scheme? Maybe!
If anyone still wonders if the original SkyWay String Transport system will ever see the light of day, you can stop wondering. It will not.
The notion of some futuristic material that’s stiff enough for a few-cm-thick rail to hold up a tram car without sagging is ridiculous. Such a material does not exist and it never will.
Whether Anatoly Yunitskiy is a scammer or merely deluded, he’s no scientist. There’s a reason every pretend “demo” system they’ve put together has had serious deficiencies:
Cannot move faster than a walking pace? Check
Sways and bucks and causes motion-sickness? Check
Looks nothing like the concept drawings? Check
Abandoned midway through construction? Check
These are not trustworthy people. They’re scammers. Keep your wallet tightly closed around these operators.
Oz, in an otherwise excellent article that speaks very well of your research skills, there are a couple of edits needed.
Near the beginning, there are three bullet points; the second one doesn’t scan. I think you meant “where” instead of “through” in this sentence:
Near the end is this sentence fragment:
But as I say, very well done overall. I don’t know how you do it.
Oh, and inb4 “BuT sKyWaY cApItAl Is DiFfErEnT fRoM sKyWaY fIlLiNtHeBlAnK aNd EvOrIcH aNd YaDa-YaDaCoRp! Do YoUr ReSeArCh!”
i just joined evorich, i hope all yr fact are wrong!!!!
Thanks for the support. Think I meant “through which” on that first point and… I got lost in thought on that second one (yeah I dunno what happened there).
I really miss WP’s grammar check they unfortunately got rid of a few versions back. Used to pick up errors that I’d miss beyond spelling correction.
The thing with Skyway is after flopping in India and announcing the magic moon train, nothing much has been going on. Makes it a bit easier to keep track of what’s going on.
Facts are facts and hope has no place in due-diligence. Sorry for your loss.
PT. SkyWay Technologies Indonesia was established in Jakarta, on Principle License from Investment Coordinating Board Republic of Indonesia No. 3358/1/IP/PMA/2017 dated August 18th, 2017 and Deed of Establishment No.116 dated 21 August 21st, 2017.
Till now not a single product or project has been launched in indonesia or any other country. only false promises in every country.
theys showing project in UAE but government of UAE has began investigating this fraud company.
Indonesia is far from unique. There are tens and tens of such shell companies set up by Yunitskiy, by now the number may well be into the three digits, in lots of countries all over the world.
Not one of them has ever sold anything, or signed any contract. The vast majority of them don’t do anything discernable at all, and are clearly just there as part of the money laundering apparatus any large-scale scam needs, to obfuscate money flows.
Once in a while, one of them signs a supposed “contract” with another one, which can then be presented in SkyWay publicity material as a “pre-order” or the like. There are entertaining videos around of such pseudo-contract signing ceremonies.
Which brings us to a point made by Amos_N_Andy:
I think we can safely rule out “deluded”.
The only possibility other than scammer would be that he is indeed a deluded crackpot inventor, who’s convinced he’s made some great breakthrough, over 40 years ago, the fabled “string”, which defies everything known in material science (as well as inventing a railway line around the equator that will go into space, his other great breakthrough).
Ever since then he must have been exploited by other people, who’ve set up an elaborate scam machinery built around his aburd non-inventions, using him just as a front, who has no idea what is actually going on business-wise.
I think the corporate structure Yunitskiy has created proves this isn’t the case. Knowledgeable people who’ve tried to make some sense of the intentionally confusing tangle of shell companies that make up SkyWay, have come to the conclusion that the entire edifice ultimately is firmly in the hands of Yunitskiy himself, plus some members of his direct family.
There is no indication that there’s anyone else behind the scenes.
He’s not even very good at keeping up the appearance of being an engineer of some sort. The supposedly “technical” material he put out when he got started, so before he could afford to hire other people, with his own little hand-drawn sketches, is quite pitiful.
I assume you were being sarcastic, PassingBy, because the notion is hardly his.
The “space elevator” concept has been bandied about for decades. Dozens, if not hundreds, of science articles and sci-fi stories have been written around the concept.
Tie one end of a 50,000-mile-long cable to a spot at the equator, and the Earth’s rotation will keep it under tension at all times (a sort of planetary crack-the-whip). Or cut the length down to a mere 25 to 30 thousand miles and hang a huge counterweight on the end. It just has to be longer than the height of a geosynchronous orbit (about 22.5k miles) to work. Theoretically.
The cable (or counterweight) that’s above 22.5k miles will be travelling at greater than orbital velocity, and will put the cable under tension. If there’s enough tension to bear the weight of the cable, plus a generous extra for payloads, crawlers could haul cargo out of Earth’s gravity well, and we wouldn’t need so many rockets.
But oh, the tension required. Oh, the cost. Can we even do it? It would be such a massive undertaking, no government has been willing to undertake so much as a feasibility study, AFAIK.
For Yunitskiy to claim ownership of that idea is just another layer of bullshit.
Mind sharing the link?
not to forget Viktor baburini there lawyer. they are criminals commit cheating of innocent peoples destruy there human rights.
india government national human rights court accept investigate them in january 2021. ask that court if not beliv.
india you can serch assam human right court 1 2021, 10, 14, 50 orisa delhi human right court, rajastan 10 rights court, case against master profi education ltd by hdfc bank deli branch.
indonesia you can search drone ventures versus government java.
Tokens will be paid under UGPay.
What you saying is that in SEC filling it should be mentioned what tokens will be sold?
In a nutshell. UGPay being registered with the SEC but not disclosing their token passive investment scheme is still securities fraud.
they been saying they been audited by crowe.com/global. will try to get report.
Skyway Capital scammers have said a lot of things over the years.
There is no substitute for registering with financial regulators and filing audited financial reports.
Evorich is Say Onz Give cards to retire his profits in 31 january the cards have the name GLobal Unit Pay and have mastercard logo.
Finding some dodgy merchant to issue debit cards through shell companies doesn’t make EvoRich any less of a Ponzi scheme.
Is possible change World Cru to Dollars???
I’m sure there’s some convoluted way to do it through the internal exchange. Subject to new gullible dumbasses investing after you.
For you to make some update uncovering this wankers…
here you can find some nice charts and slides been cooked up.
Good luck in hunting.
and there we go with more….now it is ETF`s…
4.5 hours of Russian Ponzi marketing bullshit? Yeah nah, I’m out. Thanks.
There is so much bullshit in these articles. I have been in this since august 2015. Evorich has nothing to do with SkyWay.
Andrey Khovratov was literally a Skyway Capital executive. And EvoRich didn’t exist in 2015. Herp derp.
Oz, if you had a nickel for every knucklehead who rocked up here and said “[Insert shell or mergee here] has nothing to do with SkyWay”… well, you’d have a lot of nickels, is what I’m saying.
I think my favorites were the endless repetitions of “SkyWay Capital isn’t SkyWay!” Sure, Chief.
Enough to start my own MLM crypto Ponzi. And I know all the plays.
And if you don’t get it right the first time, then by God you will have learned from your mistakes and get it right the next time, right? I’m pretty sure that’s in The Scammers Codebook.
Fma update scam warning Evorich.
Thanks for the heads up!
CONSOB in Italy, too, announced New Zealand FMA’s warning.
Evorich mindfulness education lol….. youtu.be/1NKsDROA29g
Yeah, definitely nothing cult like about that video.
I listened for a minute or so, but I don’t get it. This chick is droning on and on about how great she is at being a money magnet, and harnessing the energy of the Universe, blah, blah, blah.
How exactly is that supposed to help ME???
If anybody wants to know who’s “The Man” behind all this.
The most complete scheme of the Sky Way fraudulent project available only through WayBackMachine archive because it probably got DDoSed or something, well you know Sky Way people.
There was a whole site dedicated to victormorozov.org to expose him, after International Consortium of Investigative Journalists came across leaked documents in Panama Papers.
It is however all in Russian but you can use Translate.
I’d suggest reading all the articles available there – paints the big picture in detail. And I must say – not a pretty one – where all the unsuspecting people are getting themselves into.
Evorich/ugpay group announcement at the convention in Dubai the Mila token and Mila coin named after scammer Mila Serdyukova.
Dutch famous ex football player Bryan Roy promoting the scam.
There is a mess in following what they ask you to do.
And whatever they want to give you you never reach it if you are not at the top of the chain.
Andrey Khovratov has been arrested in an airport in Moscow while attempting to flee from Russia.
He’s currently placed into custody for three months, starting from March 30. Most likely he will remain there for longer, until trial his arrest may be prolonged by court.
Kir you make us all very happy with that news..any proof/link?
I am blocked in every Evorich group 😉
Sonja, the one place I know where you can watch the moment of the arrest is on Russian YouTuber’s (Denis LeadER TV – guy is making videos about all kinds of scams to warn people) telegram channel:
Apparently the video firstly appeared on this website:
The direct link to the YouTube video clip of the arrest: