Tag: india

INDIA – OVER 130,000 INVESTORS WORLDWIDE LOSE MONEY TO PRAETORIAN GROUP INTERNATIONAL (PGI) PONZI SCHEME

Picture of Ramil Ventura Palafox (left) and Mark Davis (right) both running the Ponzi bitcoin scheme at AI Trades (Photo taken from PGI Global official facebook page)

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INDIA - OVER 130,000 INVESTORS WORLDWIDE LOSE MONEY TO PRAETORIAN GROUP INTERNATIONAL (PGI) PONZI SCHEME

LONDON, [OUTSIDE US, CANADA OR AU], UNITED KINGDOM, May 26, 2021 — PGI Global, a cryptocurrency and MLM company with over 130,000 investors across 199 countries is likely to become the biggest Ponzi scam since Bernie Madoff Ponzi scheme that defrauded thousands of investors out of tens of billions of dollars in 2009.

There have been numerous international reviews on PGI Global and its business practices but most of the reviews have been from people who have not invested in the scheme; this is the first time the world will hear from investors who are currently investors in PGI Ponzi scheme.

My name is Ken Uwotu, I am a PGI investor and the group leader of the telegram group ‘worldwide investors group’ (WIG), a group of over 1,350 PGI investors worldwide.

In the public interest we have decided to alert Interpol and national government agencies around the world to investigate PGI Global, a company most investors now strongly believe is a Ponzi scheme and we wish to warn unsuspecting and vulnerable investors not to fall prey to this ‘highly sophisticated’ bitcoin scam and PYRAMID Ponzi scheme.

PGI FOUNDERS ‘THE SHADY CHARACTERS’ – RAMIL VENTURA PALAFOX AND MARK DAVIS

Ramil Ventura Palafox (RV) worked for Trade Coin Club (TCC) between 2017 and 2018. He was the face of TCC in South East Asia. TCC affiliates invested in Bitcoin on the promise of an advertised daily ROI of up to 0.45% for a period of 12 months; TCC closed in June 2018 and disappeared with 167,000 BTC (current value today $62 billion) of investors’ money. Joff Paradise was the face of TCC and the owner of AI Trade however Joff was forced to step down as owner of AI Trade because he was being chased for the stolen investors’ funds at TCC. Joff Paradise made Ramil Ventura Palafox AI President. Ramil Ventura (RV) Palafox and Mark Davis worked together running AI Trades. Ramil Palafox as President and Mark Davis as Chief Communications Officer (CCO). Trade Coin Club and AI Trade are well-established Ponzi schemes and have been declared scams by legal authorities.

PGI Global’s most basic level of affiliate membership requires an investment of $100. The highest investment you can make is $500,000 and above – unlimited to join the Titanium Level. To ensure passive income from the company, it promises to give daily ROIs of between 0.5%-3% until a member’s package reaches a maximum 200 days or 200% of your investment, whichever comes first. There is no evidence shown to members of PGI Global trading in bitcoin and the company recently launched products. However, there has not been ordinary Investors known to have purchased these products, considering that members have not been paid since these products were launched. To be a member you must buy their affiliate memberships to become a part of the community.

The signs of a possible PGI exit strategy began to emerge on January 18th 2021 when RV claimed the company had problems with their third payment gateway partners, which has resulted in investors’ payments being held up in ‘the blockchain’.

In a monthly members’ meet up video recorded in March 2021, RV told investors that he has purchased Kala Wallet for $20 million and that Kala Wallet will be launched at the beginning of April 2021, RV stated this action would make the processing of payments much faster as PGI would now have its own blockchain and would the only company to have its own blockchain technology. The validity of a partnership arrangement with Kala was investigated and it was discovered that PGI is not listed as one of Kala Coins’ partners on its website and Kala have confirmed that PGI has not purchased Kala.

The impact of PGI’s action not to pay investors is immeasurable. I have spoken to investors who say they are now depressed, suicidal, have developed illnesses. Last week we received confirmed report of three PGI investors, a couple and nephew who drank poison and died in South Africa as a direct result of PGI Global’s action not to pay investors.

On 3rd May, PGI stated that they were launching PGI 2.0 and fraudulently changed the payment status on investors’ back-office records from ‘processing’ to ‘cash-out refunded’ but retained investors’ Bitcoin investment pay-outs in PGI’s bitcoin wallet.

PGI Global stopped paying investors on 15th of Feb 2021, PGI has now turned their attention to recruiting low income and the vulnerable people to join the scheme. From February 2020 to August 2020 at the height of COVID 19 pandemic, PGI global made $30,000,000 in revenue according to its official Facebook page. WIG has measured the impact of PGI’s action not to pay investors. In a recent survey, it showed about 80% of investors have investment packages ranging from $1000 – $10,000 and 87.1% of investors who took part in the survey have investments monies ranging from $88 – $10,000 showing that majority of PGI’s investors are low-income earners and vulnerable.

It is important to state the Bitcoin scam companies mentioned above mirrors PGI Global. A last-minute meeting on 23/05/2021 to get PGI to pay investors failed.

For further information, contact us at mailto:worldwideinvestorstelegram@gmail.com

FOUNDERS (CORPORATE)
Ramil Ventura Palafox – PGI founder/CEO
Mark Davis – Vice President, PGI Global and COO
Raquel Paulino – Co founder, Philippines
Rosario Austria, MD – Vice President, Health & Well being

PGI PRESIDENTS (MLM)
Helen L Graham- PGI Global President
Shofi Ullah- PGI President Europe
Bako Faysal – PGI President Asia
Benny Akiki Mwesigwa – PGI President Africa
Philip Ndungu – PGI President Latin America
Mingthoy Mendez – PGI President Latin America
Miguel Lopez – PGI President Latin America
Mielli Motsepe – PGI President South Africa
Harrison Omojafo – PGI President UK
Swimm Oma-Pharooq – PGI President UK
Julie Ladycoin – PGI President Nigeria
Shaida Kareem – PGI President Iraq
Dr Rose Okpara – PGI President North America

OTHER INDIVIDUALS OF INTEREST

Claire Wilkinson – Helen Graham’s Secretary
Denise Skeels – Ramil Ventura Palafox’s PA/Liaison Officer

ADDITIONAL RESOURCES

PGI Trust pilot review
PGI Global Official Website

Ramil Palafox living life on the fast lane off in the United States

New Details About India Banning Cryptocurrency Emerges

New Details About India Banning Cryptocurrency Emerges

New details have emerged suggesting that the Indian government will go ahead with banning cryptocurrency, in contrast to what the crypto community believes. In her latest interview regarding cryptocurrency legislation, India’s finance minister said that there will be a window for experimentation for cryptocurrency, blockchain, and fintech.

Reports of India Banning Cryptocurrency
The Indian crypto community is closely watching whether the government will ban cryptocurrencies, including bitcoin. A cabinet note regarding cryptocurrency legislation is being finalized and will soon be submitted to the cabinet.

The latest information regarding the Indian crypto ban comes from Reuters which reported Sunday night that “India will propose a law banning cryptocurrencies, fining anyone trading in the country or even holding such digital assets.” The publication cited an unnamed senior government official who claims to have direct knowledge of the plan. He said that bill “would criminalise possession, issuance, mining, trading and transferring crypto-assets.”

According to the official:

The bill would give holders of cryptocurrencies up to six months to liquidate, after which penalties will be levied.

Moreover, officials are confident that the bill will be enacted into law as Prime Minister Narendra Modi’s government holds a comfortable majority in parliament, the publication added.

Crypto Community Believes There Will Be No Ban
Many people on social media do not believe that India will go through with banning cryptocurrency, however, suggesting that the information provided by Reuters is outdated. They believe that the finance minister, Nirmala Sitharaman, has indicated in her recent interviews that cryptocurrency will not be banned.

Over the weekend, the finance minister talked about bitcoin and cryptocurrency legislation in an interview on India Today. She was asked if India was heading into the zone where it is inevitable that the government will have to come around to the realization that cryptocurrencies are here to stay.

The minister of finance reiterated that a “cabinet note” on cryptocurrency is “getting prepared” and is “nearing completion.” She confirmed that it will soon be taken to the cabinet.

Noting that the supreme court has commented on cryptocurrency and the Reserve Bank of India (RBI) will make a call on the official digital rupee, the finance minister affirmed:

From our side, we are very clear that we are not shutting all options off. We will allow a certain amount of window for people to use so that experiments in blockchain, bitcoin, or whatever you may want to call it, the cryptocurrency experiments, and fintech which depends on such experiment will have that window available for them.

However, she emphasized that specific rules about cryptocurrencies will be in the cabinet note, which will be “ready soon.”

Earlier this month, Bitcoin.com News reported that the finance minister said: “There will be a very calibrated position taken … We are not closing our minds. We are certainly looking at the ways in which experimentations can happen in the digital world and cryptocurrency and so on.”

Her statements have given the Indian crypto community hope that India will regulate cryptocurrencies instead of imposing an outright ban.

However, according to Reuters’ most recent report, the senior official said that the plan is to ban private crypto assets while promoting blockchain technology and fintech. He was quoted as saying:

We don’t have a problem with technology. There’s no harm in harnessing the technology.

He clarified that the government’s moves would be “calibrated” in the extent of the penalties on those who did not liquidate crypto assets within the law’s grace period.

In the cryptocurrency bill published in 2019, the interministerial committee in charge of drafting the bill recommended “jail of up to 10 years on people who mine, generate, hold, sell, transfer, dispose of, issue or deal in cryptocurrencies,” the publication conveyed, adding that the official declined to discuss specifics in this area.

Meanwhile, Indian crypto traders are enjoying the crypto boom as the price of bitcoin hit all-time highs several times over recent months. Leading cryptocurrency exchanges in the country have reported record-high trading volumes and numbers of new users. “The money is multiplying rapidly every month and you don’t want to be sitting on the sidelines, a crypto trader named Sumnesh Salodkar was quoted by Reuters as saying. “Even though people are panicking due to the potential ban, greed is driving these choices.”

Source – Bitcoin-India 

Bitcoin retreats from record high high of $61,674 amid report of Indian crypto ban

Bitcoin retreats from record high amid report of Indian crypto ban

Bitcoin (BTC-USD) was in retreat on Monday morning after hitting a new record high over the weekend.

It broke through $60,000 to reach a high of $61,674 on Saturday. The world’s biggest cryptocurrency was in retreat by the start of the week, down 4.4% to $57,847.84 at 9.15am in London.

The price decline came amid reports that India could ban cryptocurrencies altogether, potentially cutting off one of the biggest markets in the world.

Reuters reported on Sunday evening that senior government officials in India were working on a law banning cryptocurrencies. People could be penalised for mining or owning cryptocurrencies under the proposals, according to the report.

The broader cryptocurrency ecosystem was in decline on Monday morning. The crypto market was down 4.5% over 24 hours, according to CoinMarketCap.com. Ethereum (ETH-USD), the world’s second largest cryptocurrency, was trading 5.7% lower against the dollar to $1,785.49 on Monday.

Nigel Green, chief executive and founder of financial advisory group deVere, said regulation was likely to become an increasing concern for bitcoin and the wider cryptocurrency market.

Source – Yahoo News