US regulatory investigation into USI-Tech confirmed
Yesterday we reported on USI-Tech admitting it was using newly invested funds to pay off existing investors.
Today we can confirm a US regulatory investigation into the company is underway.
Confirmation of a US regulatory investigation comes from USI-Tech affiliate Mike Klingler.
Klingler is based out of Oregon and in a post to the Facebook group “USI Discussions”, yesterday announced he’d been subpoenaed by the Washington State Division of Securities.
Accordingly Kilingler claims he’s ‘been submitting a number of requested documents to comply‘.
They are investigating USI and its promoters.
The subpoena had nothing to do with anything specific I had done other than, I think, one of my ads on Facebook, or perhaps email, was seen by a Washington State resident who enrolled with USI.
They are requesting every upline and downline communication, video, document, agreement, email, ad, USI promotions, communications, full downline reports, documentation of all payments received from USI, and the list goes on.
I am sending what I have saved.
While I didn’t hang onto everything, I have a lot to forward onto them and am doing so as it is required.
Not surprisingly, Klingler states the Washington Securities Division are treating USI-Tech’s
Tech Coin and BTC packages (as) an investment and we are not allowed to market them without a license.
US regulators don’t confirm or deny open investigations so we’ll have to wait for the agency to take further action before we learn more.
In the meantime Klingler has moved onto promoting Crypto Wealth Evolution.
Klingler claims his experience with the Washington Securities Division
has contributed tremendously to (his) shift in focus onto understanding regulatory compliance and on promoting the CWE auto-bot, which is software rather than a pooling of money that another company uses to invest and provide returns for us on.
Like USI-Tech, Crypto World Evolution provide no disclosures to investors regarding their supposed bot.
The company is run by Tomas Perez-Quevedo, who has a documented history of participation in a number of MLM Ponzi schemes.
Crypto World Evolution affiliates pay the company upwards of $2000 a position, on the expectation of an entirely passive ROI.
Neither Crypto World Evolution or Tomas Perez-Quevedo are registered with the SEC.
Sound familiar? Round and round we go…
Klingler is the classic leech.
i certainly hope the SEC has a positive attitude… Klingler gets his panties in a bunch when people relate information he deems as ‘negative.’
He may threaten to ban the SEC from the investigation if he doesn’t like their tone of their questions.
USI site down!
This is taking a real ugly turn.
Hit out on the Ponzi Slayer by USI scammers?
Impossible to verify.
Plot twist, Mike Klingler is the scam!
The night I was introduced to Mike Klingler I was excited. I was ready to multiply my bitcoin. He was showing us how to do it, and had around 10k followers at that time.
The company was USI-tech. I quickly noticed in his “bitcoin Multiplier” facebook page, that it had become a spam marketing ponzi scheme.
I was already in USI-tech by this time, so I just kept quiet, but it made me cringe every time I saw him post about how many tokens he was buying for the ICO.
His girlfriend was just as bad. She was always there to show everyone exactly how to do it.
The most sickening thing was he offered a “VIP” group if you bought over 25 BTC packages. I had 46 packages, but didn’t want anything to do with his VIP group.
The amount of “I’m one of Mike’s VIP’s ” comments that would be thrown at a new person was like watching a bunch of teenage boys trying to be the first to stick their dicks in a glory hole. It was sickening!!!
So after USI-tech shut down Mike was still pushing people to throw their money in the shit token of USI tech since he had already invested so much into it.
However, the last straw with me was the day that he announced his next move was to bring everyone from that group to Davor coin. Not only did he do that, he then made 2 fatal mistakes.
Number 1 – He showed his Davor coin account that already had $167,000 in lending and was at level 5 referral already. Mind you he just told his facebook group.
Number 2 – He says “oh and don’t forget to have at least $100 lent into the program or you can’t get referral money. I made that mistake and missed out on a lot of free money”.
So what did I do? I posted (or tried to post) in the group saying something along the lines of “hey, lets not SPAM market this one, because that’s what cause USI-tech to shut down. Also, this whole “VIP” think makes me want to puke.”
I went on to tell them that compound interest is great, but this program works without referrals. Pretty much telling them to not mess this one up, but in a nice way. I got deleted from the group. lol
Mike Klingler likes to show you his cars that he has obtained. He likes to tell you how many tokens he’s bought, or how much he spent in an ICO.
Guys (and girls) that’s easy to do when you are playing with “fake” money.
Mike didn’t earn any of that money by working. He made it by SPAM marketing people like you and I.
Please take my advice and help other people stay away from frauds like Mike Klingler.
Same deal promised svc m DVD nothing came through. He even had a video that went over everything in his scam well not calling it a scam but how usi worked, supposedly.
Everyone involved in promotion knew it was a scam. And then usi promised to payback which never happened fort anyone. These people deserve jail time.
how do I put in a claim to the sec against USI tech… never realised you could do this… can anyone help me please.
You can contact the SEC about USI-Tech but that’s not filing a claim for anything.