ITP Corp securities fraud warning from Washington
The ITP Corp “click a button” app Ponzi has received a securities fraud warning from Washington.
In their December 15th warning, the Department of Financial Institutions (DFI) warns ITP Corp “appear(s) to be engaged in fraud”.
DFI, Securities Division has received multiple complaints regarding the entity ITP Corporation aka Intelligent Technology Pioneer Company/ ITP Club/ ITP Tron (“ITP”).
The complainants purchased cryptocurrency with the promise of being able to trade or sell that cryptocurrency with guaranteed profits.
Investors were not able to withdraw their funds. Some investors were also asked to pay an additional $100 “ransom fee” to access their funds.
ITP is a limited liability company registered in Washington with purported principal places of business located in Seattle and Olympia, Washington.
However, it does not appear that ITP is located at either of these locations nor engaged in lawful business activities.
DFI has reason to believe that ITP is connected with Coscoin, DCPTG, and Alevius, all of which are purported investment trading platforms registered with the Washington State Secretary of State.
It does not appear that Coscoin, DCPTG, and Alevius’s businesses are actually located at any of the locations they list on the Washington State Secretary of State’s filings, nor that they are engaged in lawful business activities.
CosCoin, DCPTG and Alevius are similar “click a button” app Ponzi schemes.
These scams are run by Chinese scammers, typically pretending to be based out of countries they aren’t.
The FCA issued an ITP Corp securities fraud warning earlier this month. So far no action has been taken against top ITP Corp promoters in the UK, who together are believed to have stolen millions.
In their ITP Corp fraud warning, DFI notes it
has been contacted by 23 additional investors who were not able to withdraw their investments from Coscoin.
Coscoin continues to offer investments in AI driven crypto trades to the general public through its websites.
DCPTG and Alevius I’m not familiar with. This isn’t surprising, seeing as BehindMLM has now reviewed over one hundred “click a button” app Ponzis.
The Chinese scammers behind “click a button” app Ponzis are believed to operate from south-east Asia. They are part of a wider organized crime problem plaguing the region over the past few years.