Frega Global Review: RealStew rebooted as altcoin factory Ponzi
Frega describes itself as a “financial technology company” whose aim is to provide “financial services for the banked, under banked and unbanked”.
The problem is behind Frega Global’s cliched pitch is your typical cryptocurrency Ponzi scheme.
Frega Global provides no information on their website about who owns or runs the business.
Further research reveals Paddy Delaney (right) crediting himself as owner of Frega Global on LinkedIn.
Delaney’s LinkedIn profile also cites him as owner of RealStew. RealStew was a £25 monthly 2×2 matrix gifting scheme.
As RealStew collapsed, Delaney appears to have launched “RealStew shares”.
That also flopped and so at some point Delaney launched Frega Global.
Like seemingly everyone who’s ever launched an MLM underbelly scheme, Paddy Delaney has reinvented himself through cryptocurrency.
Here’s how Frega Global describe their company on their website:
Fregared Accounts will accumulate distributed funds. A proprietary alogorithm [sic] is applied to determine the distribution of the funds and in all the World’s currencies.
Access to the distributed funds is governed by eMoney regulations with different levels of identity required to be provided based on the level of funds passing through the Account
The initial basic service will be for the Account to take receipt of the distributed funds, and a limited ablity [sic] to make inter account transfers.
Fregared Account holders, with three-months proof of distributed receipts, will be permitted to trade (Sell/Buy) a portion of their Derivied [sic] Value.
The rights to receive these recurring receipts, are traded on the Derivied [sic] Value portal. this will allow a Frega Account holder to raise lump sums of money in exchange for forgoing a portion of their future income.
If that sounds like meaningless marketing jargon, it’s because it is.
At its core, Frega Global sells FregaCrypto tokens to investors on the promise of a daily ROI:
There’s a boatload of smoke and mirrors built around this, but FregaCrypto investment is the core of the business.
Oh and the RealStew gifting component of the business seems alive and well, only now it’s called “The Plan”.
Registration to access any Application, from a growing Library of Applications, will position the registrant to access a share of distributed revenues from 1320 contributing members in up to 1320 countries.
Subscribe to ‘The Plan’ and the registrant doubles the number of contributing Members from 1320 to 2640 numberville tables which will be in 20 countries.
You gift £25 GBP in and that payment qualified you to receive payments from subsequently recruited Frega Global affiliates.
What the “The Plan” gifting payment also does is increase your FregaCrypto token daily ROI rate.
Subscription to The Plan increases the Frega Rating of the Member. An increased Frega Rating increases the derived value of the passive flow.
It also increases the capacity to support P2P loans, and once the Frega Rating is consistently over 750 for a full month, this will reduce the Ledger fees by 10% for the following month.
What I haven’t been able to ascertain is whether FregaCrypto token ROIs are paid in real money or tokens.
For the purpose of legitimacy analysis however, whichever the case the end result is the same.
Frega Global operates an internal exchange through which affiliates can sell FregaCrypto tokens at whatever the current set price is.
Frega Global set the internal value of FregaCrypto tokens as they see fit.
Although there was probably an initial offering to RealStew affiliates, for the most part FregaCrypto units have been offloaded onto investors for £1 GBP each.
Here’s Paddy Delaney himself explaining why people have invested in FregaCrypto units;
Anybody who was to buy into our Frega crypto unit is going to be buying in to get a dividend yield. They’re going to get a very big yield.
So these guys are buying in at a pound for placement now.
We can show from our whitepaper that they could be looking at three to four pounds return on that pound investment over the next twelve months.
That was January 2018, roughly eleven months ago. Frega Global don’t publish the internal FregaCrypto unit value so I can’t say for sure, but I’ve yet to see anyone crowing about a 400% ROI.
Attached to Frega Global are a bunch of marketing promises, by way of businesses that create the illusion of external ROI revenue generation.
The most visible of these is “Something2Trade”, a website on which Frega Global affiliates can either market a business, themselves or offload junk they don’t want.
Needless to say whatever revenue Frega Global might skim off people gullible enough to list on Something2Trade, isn’t enough to pay a 400% annual ROI on top of everything else.
On the exit-scam side of things (every MLM cryptocurrency company has one), Frega Global are going to bury their investors in a sea of worthless altcoins.
Having perfected the altcoin script model (or more likely paid someone else to), Paddy Delaney can seemingly generate altcoins on a whim.
Within Frega Global I found over ten pointless altcoins with arbitrary internal values;
In addition to RealP2PCrypto, POSCrypto, AnimalsCrypto, ChristianCrypto, DatingCrypto, EntertainmentCrypto, GreenCrypto, PropertyCrypto, MuslimCrypto and TransportCrypto… there are even more Frega Global altcoins in the works:
The plan seems to be to launch as many shitcoins as possible, hope a few stick. If they don’t, well… sorry for your loss and onto the next one.
You can see some of the altcoin nonsense Frega Global have launched or are planning to launch over at Frega World.
Update June 13th 2019 – As of this update the Frega World website has been pulled offline. /end update
Oh and on top of its own altcoins, for a fee Frega Global will push a button and let you create your own shitcoin for their internal exchange:
But uh yeah, the gimmick of letting affiliates create their own worthless cryptocurrency coin… something something 400% annual returns.
Somewhere in all of this you have FregaCrypto tokens, which looks like it will eventually be FregaCoin.
Frega is the main Crypto, everything else, other than Crypto Equity release tokens are verticals.
Worthless shitcoins built on their own worthless shitcoins… that’s where we’re at folks.
But of course this is all smoke and mirrors. As I stated at the start of this article, Frega Global is just a RealStew reboot.
You can still gift in your £25 and collecting gifting payments from other Frega Global affiliates.
And if you want to get into Ponzi scamming, FregaCrypto tokens are there too.
As it stands the only verifiable source of revenue entering Frega Global is new investment. The only people using Frega Global’s sham sites are their affiliates, so any fees charged count as internal revenue too.
That money is used to prop up the internal exchange, creating the closed-loop necessary to demonstrate a Ponzi scheme.
You invest in FregaCrypto tokens and you withdraw through the company’s internal exchange by offloading your tokens onto other Frega Global affiliates.
The money you receive is subsequent investment in FregaCrypto tokens (and all the other shitcoins), on top of the daily ROI (which you also need to withdraw to realize).
When affiliate recruitment tanks, FregaCrypto collapses. At that point Paddy Delaney and those he works with do a runner with the money you handed over for FregaCrypto tokens.
You and the rest of the gullible Frega Global bagholders are left scrambling to rip each other off through the internal exchange. The internal value plummets towards zero and Delaney washes his hands of any wrong doing (“but you got something of value for your money, it’s not my fault the value is $0!”).
Points for creativity with the push-button DIY shitcoin angle, but otherwise Frega Global is the same old cryptocurrency token Ponzi model.
Paddy Delaney was declared bankrupt earlier this year and resigned from Frega UK Ltd. His wife is a sole director… nice one!
You have really taken everything out of context.
These remarks will hurt you, not Frega. You have not even come close to the truth.
Calling out a Ponzi scheme only hurts the Ponzi scheme.
Feel free to chime in with your alternative “truth”. Anytime now…
where do i contact R. S. or now Frega? like to get the $ i invested?
If Paddy Delaney has disappeared then so has your money. This is what happens when you invest in Ponzi schemes.
Sorry for your loss.
Websites are down since a couple of weeks… Never invested a cent, but I think about who sincerely put money in it to ideals of greater goods for humanity. 🙁
I don’t think anyone joins a blatant Ponzi scheme to benefit humanity fam.
To whoever created this page:
You may want to get educated on what Frega actually does as all you have done is pasted excerpts from different sources of which are all out of context and don’t make sense and I bet the people whose names show in them haven’t consented to them being used either.
Personally I would be very careful about the deformation of Frega you could land yourself in a whole lot of very hot water with alot of people….
Everyone here except Carol it seems need to get some education on what Frega actually does!!
If by “sources” you mean Frega Global itself and by “out of context” you mean quoting Frega Global verbatim, then sure.
This is about the level of literacy I expect from the MLM crypto niche.
Apparently steal a bunch of money and then shut down their website.
You really have no insight into the function of Frega and how it will change people lives. We are building a new way of creating financial revenue for the people and not for corporate.
You can write your report and call it a ponzi scheme if you like, but that does not make Frega one.
Just as you can call a car a chair, does not make it so. You are like the people standing outside of the building when the plan was being built, and one of them said, “if God had wanted us to fly he would have given us wings” . Not only have we been able to fly, we have gone to the moon.
Just because you do not have a dream or vision to create something that has never been done before does not give you the ability to give a “report” on Frega in which you are not a part of.
You are not having the impact to your report that you may think . Frega is alive and well, growing in number and our Apps are improving with each code.
When we are flying you will be still standing on the ground making false statement, unless you choose to learn the truth. Join us and help make history for mankind instead of writing false reports.
Nah, we nailed it.
You wouldn’t be waffling on like a pork chop if you had anything to dispute the fact Frega Global is a Ponzi altcoin factory.
You are the one calling a Ponzi scheme anything but. You can call a Ponzi scheme whatever you want, at the end of the day it’s still a Ponzi scheme.
Frega Global’s Alexa website ranking is 3.6 million. Sorry for your loss.
Frega describes itself as a “financial technology company” whose aim is to provide “financial services for the banked, under banked and unbanked”………so Frega far from being an empty scam is a sophisticated investment project that people of their own volition can take part in or not.
It is free to join Frega and you can invest as little as a dollar. Yes it is a cryptocurrency centered business but that does not mean it is a scam.
(Ozedit: banking/society/bitcoin derails removed)
I have invested in Frega and have no regrets and if I lose my investment stiff cheese.
I have gone into it with my eyes wide open, as any investor should do…. back when it was Real Stew, and I remain full of admiration for Paddy Delaney and his grand vision of a more egalitarian society and his tenacity for holding firm to his vision through thick and thin.
Perhaps you need to do further due diligence before you go slandering a totally legitimate business investment?
Or your readers who are influenced by you to bypass this opportunity may be very irate down the road somewhat when Frega is truly gathering momentum and rendering noble service to the banked, underbanked and unbanked.
Time will tell which one of us is “on the money” but I am happy to back Paddy Delaney and Frega Global.
It’s an investment opportunity with no verifiable source of revenue, other than new investment.
Investors such as yourself invest, on the expectation you’ll make more money than you invested.
That money is paid out of subsequently invested funds, making Frega Global a Ponzi scheme.
At a minimum, Frega Global is committing securities fraud because it is not registered with financial regulators in any jurisdiction it solicits investment in.
Time isn’t a factor in identifying a Ponzi scheme. All you need is the business model.
A Ponzi scheme today is still a Ponzi scheme tomorrow or 50 years from now.
Oh and crapping on about “the unbanked”, banks and society is not a justification for investment fraud.
Ditto knowingly participating in a Ponzi scheme or being fine with losing your money to the scammers that run them.
Okay, the website is back and now seems like there’s a way to take fiat currency from the system.
People that are active in it do meetings and I have been told why there was a bankrupcy filed by Paddy, so he’s not running away from it, still leading it as matter of fact (seen from his regular meetings).
From what I am seeing about Paddy Delaney is that he’s really trying to do something good and if it was a Ponzi scheme it would have not lasted that long, this is a movement, not an investment that people is seeking to make quick and big bucks.
People following it believe in it, and again I didn’t invest anything yet is giving me more than my bank in US 😛 really hahaha.
Yeah, I know, all indicators are that is a Ponzi scheme except that the guy behind it is not running away in spite of all the chances he had.
Think for a moment if your account in facebook would give you revenue for all the shitload of ads they put in your wall/posts/sides, etc. even one thousand of a dollar, it would roughly add up to what I am getting from Frega every month… and I can now actually cash it too!
As joining is free, why not? If I can use frega stuff to buy something online and I receive the product at the end by using their crypto crap (I agree perhaps too many of them), why not?
Ponzi schemes are a zero sum game. If Delaney has spent it all then there’s nothing to withdraw.
Ponzi schemes last as long as gullible morons are willing to dump money into them.
How long a Ponzi runs for is inconsequential.
Facebook is a lot of things but not a Ponzi scheme. Any marketing comparison that relies on false equivalence is pointless.
If you think monopoly money in your Frega Global backoffice is the same as dollars in a bank account best of luck to you.
There is the ability to withdraw funds via Stripe which I have already done myself and its worked flawlessly. It clearly isn’t a Ponzi scheme the platform itself is updated daily, implementing user feedback with a development roadmap. It’s also free to join and use?
(Ozedit: derails removed)
How does you stealing money prove Frega Global isn’t a Ponzi scheme?
You personally stealing money from people who join after you isn’t the equivalent of registering with financial regulators and providing audited financial reports.
Ditto the rest of the marketing points you brought up.
Frega Global website is 404. Sorry for your loss.
My loss what are you on about?
Look your getting a bit desperate clinging at straws here. The entire system seems to have updated since you made this article as I haven’t seen any £25 offer.
I joined the Hub and have just made money from the distributed funds.
@John…what do you think about the latest update?
Frega Global as reviewed here collapsed. Whatever you’re in is a reboot.
As for “distributed funds”; there’s no source of external revenue. Whatever you’re able to withdraw is someone else’s money.
But we both know you’re talking about numbers on a screen. Good luck with that.
So your article is obselete? It’s numbers on my mobile banking which is good enough for me considering all i’ve done is post and comment.
I’ve done some digging out of interest and there is distributed funds from advertising and sales in the system.
Just looks like you don’t like the owner personally tbh. I like your cause but as I say think you’ve messed up on this one
No, Frega Global is/was a Ponzi altcoin factory. Frega Global’s website has been offline for some time (collapse).
No idea what business opp you’re referring to.
If you’ve withdrawn then like I said, all you’ve done is steal someone else’s money.
If you’re being disingenuous and referring to your Frega backoffice as an app, that’s monopoly money that doesn’t exist.
Nice. So you shouldn’t have any problem providing proof Frega Global has registered with financial regulators.
Where those audited financial reports at confirming ad revenue is being used to pay investors?
I don’t know Paddy Delaney and have nothing against him personally. He’s just another scam admin, they’re a dime a dozen.
You CANT buy Crypto’s/Tokens from Frega. So HOW can it be a Ponzi? Tokens are given with ZERO obligation …. to ALL members of the eco-system.
I personally have been with the same MLM company for twenty years (Modere … was Neways) and I know Paddy personally. I can tell you for a fact that Paddy HATES MLM.
You can dress it up however you want. Money from affiliates goes into Frega Global, as detailed in the review.
That money is used to pay affiliates who cash out, hence the Ponzi.
As for “hating MLM”, RealStew was an MLM gifting scheme. Your words don’t match reality.
Considering Frega Global’s website went down six months ago, we sure do get a lot of bagholders coming on here still defending it.
He’s got something called Frega Hub now. It’s presented as a replacement for all presently existing social media, and an online marketplace, and with software development somehow added on, and it all will make loads of money which will then be shared out and everyone involved will become filthy rich. Or something.
There are Youtube videos where he expounds the sound thinking behind it all, called freganomics. The first step of becoming rich through freganomics of course is giving money to Patrick Delaney.
There is a website called fregahub.com, but Firefox refuses to connect to it because it’s got a revoked security certificate. It’s confusingly and dysfunctionally interlinked with other websites.
As social media goes, it’s certainly a unique offering. From a quick glance, it’s almost exclusively Delaney talking to three other people about how wonderful Frega is, with a very high likelihood of those being sock puppets.
And where can one find messages such as this (cut and pasted from fregahub.something2trade.com):
And how about a marketplace where one can buy stuff like this:
Yum yum, farm fresh Georgia demo!
To everyone out there on both sides of this discussion/argument, this man is a consummate liar and a total con artist that has and will take money from those who can least afford it, including friends and family, and walk away smiling.
I was involved with the birth of Realstew right in the beginning and have first hand knowledge of just how many people were conned.
I have personally seen and heard the pleading and eventual tears of people needing their money back. There is a trail of victims from South Africa to new Zealand to China and now the UK and beyond.
Please believe me when I say you WILL lose your money. I recognize the names of those who are denying the accusations that it is a Ponzi… These are some of those who are making money out of this…for now.
And you are quite correct Oz, the only substantial revenue is from new investors, again, I should know as I can still see one of the bank accounts and the way money gets shuffled around.
Looking at some of the rhetoric from the latest site, this is the same BS that was being dished up 10 years ago.
If there is one thing PP Delaney believes is that is there is a sucker born every minute. All very sad and disappointing.
Apologies, that should read..he believes that there is a sucker born every minute
Delaney is a ‘blatant con man’, no other choice of words could sum him up any better.
He left New Zealand owing investors tens of thousands and the IRD a substantial amount of money.
His real name is Peter Patrick DELANEY and was later bankrupted in the United Kingdom on 30 July 2018.
You have been WARNED, any venture he is associated with will eventually end in misery for those who partake.
I have been with RealStew then Frega since near its beginning and have found Paddy Delaney quite the sincere,hard working, optimistic Philanthropist type.
A mathmetician and lawyer, who proved himself a superb Logician in South Africa, He would put all those who murmur against him to shame. He has often said to us: “This is not a get rich quick scheme please.”
Compared to TEAM and SLACK etc you can`t sincerely argue its lack of acuity unless offended, no quick bucks early, true, but an honest look at the model is becoming so encouraging.
Yes I see clearly it has all the potential to be the market leader in low cost business management from one portal. And with all these type of operations, it`s an EYEBALL NUMBER GAME in part. But the savings on the business model is indisputable.
Slander is easy to slanderers. That $25 is rubbish talk, as there`s no cost to join.
So you’re someone who got in early and stole a bunch of money. Well no shit you’re going to come on here and blow Delaney’s trumpet.
Paddy Delaney launches scams. That makes him a scammer. With respect to MLM due-diligence, anything else doesn’t matter.
Anyway not sure why you’re on here shilling. FregaGlobal and FregaCrypto appear to have long since collapsed.
against my better judgement, I decided to look up and see what has happened to REALSTEW/FREGA or whatever it’s called now.
I was an early investor. Paddy sat in my lounge and promised the world. sure, no get-rich-quick scheme but a long-term solid investment.
I tried to get my money back from Paddy before he went to the UK. Flat brick wall. I tried for a spell after only to be told of ever more elaborate replacement schemes.
But OZ is right – it’s a scam. If it wasn’t – how about Paddy pays out the original founder investors? Those of you still in it – cut your losses for your own sanity.
The money is gone, not invested, gone. Where to you ask – PP Delaney. If I ever find the man, there will be few words…