well, just to inform you, GEMCOIN is now making a big show in Dubai. Check out this page of the Ruler of Dubai. GEMCOIN | Annual Investment Meeting If it is a bomb, it is a BIG one.
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well, just to inform you, GEMCOIN is now making a big show in Dubai. Check out this page of the Ruler of Dubai. GEMCOIN | Annual Investment Meeting If it is a bomb, it is a BIG one.
Alert from Spain's CNMV:
Attachment 10794
URL: CNMV - Listado de entidades advertidas.
You can also report them online to US SEC and to California Department of Business Oversight
In your complaints include California's company numbers these criminals use, alert from Spain, criminal case from China.
Do not attempt to confuse authorities with gemcoins as these criminals do, but clearly describe their investment scheme for which nobody in the world issued them a license.
Seems like USFIA just lost its attempted trademark for "GEMCOIN".
USPTO asked for their response as their application for the mark is generic and migh create confusion with "GEM" and "COIN".
USFIA failed to respond for a half a year.
Attachment 10898
Attachment 10899
URL: USPTO TSDR Case Viewer
Gemcoin warned as potential unregistered fraud in Spain
cincodias.com/cincodias/2015/05/18/mercados/1431936937_999222.html
EDIT: Ooops, Niksam got there in front of me already. :D
Now for some better research
A (MLM) Skeptic: Scam Tactics: Evolution of a Scam, from Proto-Share to Investment Fund to Cryptocurrency
NOTE the TM application may be switching to "Wealthcoin", or was Gemcoin second and Wealthcoin first? Same applicant (owned by Steve Chen).
Note, he apparently also switched name in the last 10 years, from Li Chen to Steve Chen
Oz's review on USFIA ponzi:
USFIA Review: GemCoin Ponzi points investment
and
Digging deeper into the USFIA GemCoin Ponzi scam
After reading the AimCongress website, it's quite simple... Johnson wasn't invited. He's simply along as a "gala dinner sponsor" representing Mr. Chen the company owner to attend the event as a sponsor. He didn't get to speak.
AFG paid at least $100K USD (2014 price, may have gone up) to be gala dinner sponsor just to buy publicity. They also didn't win anything this year, unlike some claims.
I suppose if you're going to tell lies, you might as well make them whoppers.
We bring you this weeks' entrant in the "SPOT THE HYIP PONZI BULLTISH" competition straight from the GemCoin US page on Facebook
http://imageshack.com/a/img673/3046/WuiKac.jpg
Nothing like having friends in high places if you're going to try and foist a ponzi / pyramid fraud disguised as a new cryptocurrency on people, is there ???
From InvestGemCoin.com
http://imageshack.com/a/img661/4641/gIbJSQ.jpg
The gentleman himself from the website of the City of Arcadia in California
http://imageshack.com/a/img911/2876/ZSVUWR.jpg
One wonders how much the good citizens of Arcadia know about the extracurricular activities of their elected representative
A couple of questions arose when I came across this little piece of nonsense on InvestGemCoin.com
http://imageshack.com/a/img540/663/BNsAtF.jpg
* What are the chances of 7500 ATM machines which payout non existent Gemcoins EVER being rolled out, much less anytime soon ???
* How happy will Visa, Mastercard, Maestro, Cirrus, American Express and Diners Club be when they find out their name and trademarked logos are being associated with a blatant fraud like Gemcoin ???
They use Global Cash Card. It's on Cari.com.my somewhere.
It's now July 4th and there is no "virtual currency exchange" in California, is there? If there is, it's operated by USFIA, not "state of california" as claimed by Chen and co.
Wonder if they'll claim that city of arcadia can speak for the entire state?
AB129 simply stated that "previously law stated that California business can ONLY do business with US legal tender. This restriction is now removed. It did not "legalize" any virtual currency. It simply stated that California business are no longer "restricted" to US Dollars.
One had to "creatively interpret" the law to claim this "legalized Gemcoin".
My analysis of the topics (that lead to Oz's followup)
A (MLM) Skeptic: Scam Tactics: Evolution of a Scam, from Proto-Share to Investment Fund to Cryptocurrency
and my follow up on how did Leonard S. Johnson got to Dubai
A (MLM) Skeptic: USFIA update: Who is Leonard S. Johnson and was he really invited to Dubai to speak about alternative currencies such as Gemcoin? (Hint: No)
Another followup: the scam definitely started in the US
A (MLM) Skeptic: USFIA Update: Was in China earlier than previous reported, but definitely originated in the US
This can only be two "stunt" ATMs installed at the Arcadia HQ of USFIA. That huge Gemcoin logo in the background is a giveaway.
EDIT: Confirmed, it's instaleld in USFIA's own lobby:
http://1gemcoin.com/assets/10993093_...54287122_n.jpg
One more update: Did USFIA got their own security guard to wear a suit and go on stage to be "professional gemstone appraiser"?
A (MLM) Skeptic: USFIA Update: Who is this security guard and was he also identified as gemstone appraiser?
Yet another government moves to warn the public about the illegal activities of USFIA / Gemcoin
http://imageshack.com/a/img907/9154/GY3gGk.jpg
You can download the CNMV warning in .pdf format
Uh, NikSam posted that back on May 27th!
Turns out USFIA stole the name from a REAL "America Mine Holding" from Shenzhen China.
A (MLM) Skeptic: USFIA Update: Turns out all both the Chinese name and the English name may have been stolen
And my write up on the ATM, it costs less than $5000 to have those two ATM installed.
A (MLM) Skeptic: USFIA Update: Gemcoin ATMs (probably not) and warning in Spain about it being unlicensed investment
Coming soon, a peek at the USFIA Scam... before Gemcoin.
Looking into a video made by a fan in 2014 shows that USFIA, even back then, was definitely talking up investments in Amber options and protostocks.
After 2014, they switched from options + protostocks to Gemcoin.
A (MLM) Skeptic: USFIA Update: What was USFIA doing before Gemcoin? Exactly the same thing... selling promises of amber
Checking a copy of their comp plan from circa early 2014 shows that there are MINIMAL differences between that one and the current one.
Any claims that China was a rogue operation is bull****. If it was, there's no way they'd have continued using the same bogus ponzi comp plan.
Even the terms used are the same: managerial monthly salary was one of the many ways to be paid.
Same owner (Steve Chen), (mostly) same comp plan, same schtick (amber), same company name (USFIA), same location (Arcadia, suburb of LA)... the only thing different is instead of investing in amber options and protostocks, your money now are in Gemcoins, but it's STILL based on amber.
Maybe we should get the Chinese embassy involved. :D