Founders of Crypto ICO Sentenced to Combined 8 Years in Prison for Tax Evasion After Raising $24 Million from Investors.
The owners of a cryptocurrency company have been sentenced to a combined 8 years in federal prison for tax evasion, announced U.S. Attorney for the Northern District of Texas Chad E. Meacham.
Bitqyck founders Bruce Bise, 61, and Samuel Mendez, 65, were charged with tax evasion in August 2021.
Mr. Bise pleaded guilty on Sept. 9, 2021 and was sentenced on March 7, 2022 to 50 months in federal prison;
Mr. Mendez pleaded guilty on October 12, 2021 and was sentenced this afternoon to 50 months in prison. U.S. District Judge Jane J. Boyle ordered the men jointly and severally liable for $1.6 million apiece.
According to plea papers, Mr. Bise and Mr. Mendez admitted that Bitqyck raised approximately $24 million from more than 13,000 investors.
Instead of fulfilling their promises to these investors, the defendants used Bitqyck funds on personal expenses, including casino trips, cars, luxury home furnishings, art, and rent.
“Crypto actors are required to pay their fair share of taxes, just like everyone else,” said U.S. Attorney Chad Meacham.
“Not only did these defendants shirk their tax obligations, they lied to investors and made
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Zeniq Coin Review: A Ponzi Scheme
by Team Business For Home • • 0 Comments
In the past years hundreds of crypto coins have been launched with a Network Marketing compensation plan attached and 99,99% of them are out of business. It is not a good marriage…
The company CEO Erwin Dokter, is/was the CEO of the collapsed Juwelis Coin in 2020. Zeniq coins is an other attempt of him and others to put a Crypto / MLM product into the market.
Zeniq coins is promoted by a number of bad actors listed on the MLM blacklist.
Why is Zeniq coins, a product of Dubai based Safir International a Ponzi scheme and an illegal security offering?
The compensation plan allows you to “invest” between Euro 100 – Euro 330,000….
In the USA the government (FTC, SEC) will take out fast such an investment MLM company (Security offering, Ponzi scheme) and that is the reason MLM Crypto’s are outside the USA situated nowadays, in this case in Dubai, and you are not allowed to bring in USA residents….
(Field leaders will tell you to use a VPN to bring in investors from the USA.)
The company stated on their website:
“Zeniq technologies Ltd does not provide any financial services, offerings or financial advice and is not licensed or regulated by the Dubai Financial Services
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Alberto Arellano From Mexico Joins Success Factory – DagCoin
by Ted Nuyten • • 0 Comments
Mexican leader Alberto Arellano has spent most of his adult life working in a dedicated and tireless way to prosper in the network marketing industry.
With more than 14 years of experience, his team started in Mexico and extends across several countries is now at a highlight.
Alberto is also part of the renowned global team Success4All, led by Igor E. Alberts and Andreea Cimbala, although on this occasion, it was also the Mexicans Mario Vielmas and Giovanna Rentería who informed him about the new opportunity.
“This business project makes a lot of sense to me, and I believe in the vision of the company, but the main reason why I made the decision to be part of Success Factory was because of the leadership that was coming together there.
People like Mario Vielmas, my mentor, and Giovanna Rentería: two people of high integrity and convincing results. Also, of course, the founders of Success4All, Igor and Andreea, two great leaders in the industry.”
In Success Factory, Alberto is strongly oriented to the training of the people in their team, which has helped himto obtain good results in a short time. An achievement that heaccept as hisown only in part.
“I have generated large amounts of income, much
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Success Factory – Dagcoin Crypto Review
by Ted Nuyten • • 0 Comments
In an article Crypto Currency And Network Marketing Can It Work? I defined a number of requirements for a due diligence and this review is based on that.
Success Factory, the network marketing company that helps to distribute dagcoins, is making waves and we get many requests for interviews, reviews etc. This review is for both, Success Factory and Dagcoin. Current revenue for Success Factory we estimated at $30+ million per month and growing fast.
Personally I like crypto currencies and see their bright future, if executed well, with or without a compensation plan. For this review I have consulted an European network marketing lawyer . This article is NOT an investment advice, please conduct your own Due Diligence before you start in an opportunity.
Who owns Dagcoin?
Dagcoin is founded in the end of 2016 by CEO Nils Grossberg and Chief Visionary Officer Kris Ress. The CVO is also often seen on the field supporting the affiliates as a corporate executive. The company is well funded, both leaders have network marketing field experience. A green flag.
Where is the head office?
The head office is in Tallinn – Estonia. In the head office approx. 70 people are employed, the majority is software developer. A green flag.
Field Leadership
Experienced networkers from several countries are leading the
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Protected: Dagcoin – Success Factory Crypto Review
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FutureNet – FuturoCoin Crypto Review
by Ted Nuyten • • 0 Comments
In an article Crypto Currency And Network Marketing Can It Work? I defined a number of requirements for a due diligence and this review is based on that. Personally I like crypto currencies and see their future, if executed well, with or with a compensation plan.
FuturoNet / Futoro-Coin is making waves and we get many requests for interviews, reviews etc. This review is for the FuturoCoin.
Recently the Steinkeller brothers got involved and according to below picture netwerk marketers such as: Daniel Culverwell, Stephan Steinkeller, Aron Steinkeller, Cavit Cevdet Ayvaz, Lo Culverwell, Giles Whiting, Stephan Morgenstern, Jan Snoek, Christian Steinkeller, J. Ryan Conley, Gosia, Marcin Witek, and Aleks Ukmar are the top earners.
By the way: J. Ryan Conley is an USA leader, I do not understand how he thinks he can operate under the radar of the SEC and FTC who consider any crypto – mlm offering in the USA as illegal.
FuturoNet Leaders in Dubai 2018
According to the FutureNet website:
FutureNet company was established in 2012 and on 01.11.2014 we have launched our social media platform. During last 6 years we have provided 2 new platforms and dozen of products and online services which are used by over 2,5 million community from over 190 countries of the
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Andreea Cimbala $65 Million Earned In Network Marketing Life Time Earnings
by Ted Nuyten • • 0 Comments
Just a couple of days ago, Igor E. Alberts and Andreea Cimbala, the top earners on Business For Home lists, welcomed to the world their second child, a girl named Athena Maxima Alexandra.
On this occasion, I contacted them to present my congratulations and got the opportunity to hold an interesting conversation with Andreea Cimbala, whom I already interviewed on the subject of motherhood shortly after the birth of the couple’s first child.
Andreea:
“I’m fine and very happy. Childbirth is a hard time, for hours, testing your strength. But when everything is over and you see what you have created, it is a wonderful thing. You forget the pain and just want to hug that little creature and see that it’s okay.”
Andreea has always talked about motherhood as something that should not become an excuse for not achieving professional success, but as something that should motivate a woman even more.
“I always advise parents not to give up on their passion to be with their kids, family, friends…
When I was expecting my first child, Hermes, I started working harder than I had been so far, because I wanted to achieve as many goals as possible before the birth. Now, before my second daughter
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Priya Gohel, Full-Time Mother Grows Her Team To 33,000+ Globally With OMNIA
by Ted Nuyten • • 0 Comments
Priya Gohel, is wife and full-time mother of three and has grow her team to 33,000+ globally with OMNIA.
For Priya Gohel, network marketing had always seemed a logical method for her to try and bring in extra income for her family while working a full-time career and still maintaining life raising three boys. However, being able to make entrepreneurship a soul source of income proved difficult.
“Rewind eight years, my husband and I had our “sweet slap and a wakeup call”; our eldest son announced he would be leaving home in three years to study at university.
We were happy he wanted to further his education, yet anxious as we did not want any of our children to start life in debt. We needed to do something different, our jobs were not enough. Having a successful career never gave me the choices that I deserved.”
Priya says things changed for her and her family when she was introduced to OMNIA.
“In August 2017, OMNIA was introduced to us. My husband and I met the corporate team prior to the launch, and after seeing the opportunity, I knew this was the one! I had known about cryptocurrency for a couple years by then and had
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Crypto Currency And Network Marketing Can It Work?
by Ted Nuyten • • 0 Comments
Below article is for once my personal opinion 🙂
In the USA the federal government has a simple answer for Crypto currencies and network marketing: “No way”.
The SEC or FTC will go after any crypto currency opportunity.
However other jurisdictions do not have (yet) such an bold approach.
What has happened in the past with network marketing compensation plan driven crypto currencies?
A group of investors create a coin, appoint a CEO, attract a network marketing professional and they are signing up distributors.
The company get the coin listed on an alt-coin exchange and distributors / investors pump their coins immediately into the exchange and the coin loses its value big time, as its credibility.
Not a great marketing strategy. “Pump and dump” as criticasters call it. Giving the whole concept a black eye.
So the question raises:
If proper executed would it be possible to create an honest, clean, legit, network marketing business opportunity around a crypto currency outside the USA?
What would it need?
In my opinion and after being an guest and independent observer at many crypto launches and having an open mind, at a minimum:
Clean investors and top notch management. If the maffia is behind the project you are doomed.
Transparency, the management team and investors should be known.
A