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Thread: USI-tech claims its' sale of unregistered securities in US "legal"

  1. #451
    Gregg's Avatar
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    Re: USI-tech claims its' sale of unregistered securities in US "legal"

    Ya know, one of the problems with real money, cash, is that unless you're a drug dealer, its kind of a problem. If you found a million in unmarked 20s in the woods one day, it wouldn't be much use to you beyond slowly paying out your daily expenses, gas, lunch, cigarettes, ..hookers and blow,,,whatever your particular tastes are. You can't go pay off your mortgage, people (And the IRS) would ask inconvenient questions. You can't even go get a nice car, same problems.

    For this reason, and some others, the classic kidnapping scenario hasn't been a viable crime for about 100 years. They mark the bills and besides, you can hardly go put it in the bank.

    Now, BTC, which is mostly good for speculators, large volume drug dealers and ponzi schemes is another thing altogether. One day, and I'm serious here, one day, one of these big time ponzi pimps or admins or someone who brags one time too many on Facebook how much HE made in the scam that cost someone their home or their marriage or life savings is going to go missing. IT would only take a few minutes if well planned. Grab the guy coming out of a restaurant, throw him in the back of a van with a burlap sack over his head and a gun in his back, drive him around a corner and then slap a laptop in front of him.

    "Transfer $2 million in BTC to this account in the net 30 seconds, or your family will never find your body"

    That's a feasible crime, one that doesn't require a lot of infrastructure, hell, you wouldn't even need a passport. You don't even need a gun. Hell, this is a violent crime that would work in England, you just need a friend with a boat, a body dropped in the North Sea or the English Channel is not something that you'd have to worry about. Even if it washes up onshore, there won't be a lot of evidence left. You could go home and catch the second half of the movie you were watching. And if it hasn't already happened (would we know?), it will. And this is just supposing they do help the guy assume room temperature. IT might be more effective if they let the guy go, (which could replace Dengue Fever anyhow)

    Yeah, it would require a little bit of planning, more than a lunch date, less than a bowling league banquet. And after it happens just once to someone well known in the "industry", it might just take a few of the big promoters out of it.

    There, I hope I've given Ken Russo, Simon Stepsys and that lot something to think about....for the rest of their lives. Here's too looking over your shoulder every time you get out of the car!
    Last edited by Gregg; 01-24-2018 at 09:05 AM.

  2. #452
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    Re: USI-tech claims its' sale of unregistered securities in US "legal"

    Quote Originally Posted by Char View Post
    John Harvey
    I guess what I'm trying to say is: How will the average person, who isn't particularly techy, do their due dilligence and research these scams that have come, and are sure to come soon? I'm not an idiot. I searched and searched the best way I knew how to find information on USI Tech. I still fell for their scam because I found very little negative information on them and a metric TON of positive information. I was very skeptical because their claims seemed to good to be true, but at the same time, I couldn't find anything really refuting USI Tech, so I fell in.


    Could someone please explain that it is the act of MLMing that is the scam and simplify it for him? The company or product is only a lure or cover to commit the act.

    His post is exactly why I keep harping on this message. Sorry.
    Like it or not, MLMs are not illegal... at least here in the U.S.

    People that get sucked in to these things are looking for reasons to believe. Summarily dismissing every MLM as a scam when the model isn't illegal will not deter many of them. If you can't give them specific reasons that their specific scam is a scam, you'll lose them. Just saying "Oh, it's an MLM so it's a scam" doesn't cut it.

    Traffic Monsoon was not an MLM. Did that mean it wasn't a scam?

    IMO, no matter what we say, most are going to believe what they want to believe, but those truly on the fence are more likely to be swayed by detailed info tailored to what they are specifically looking at rather than just sweeping statements about a specific model that has not been declared illegal.
    Last edited by surfer; 01-24-2018 at 09:33 AM.

  3. #453
    Daveyw is offline Senior Member
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    Re: USI-tech claims its' sale of unregistered securities in US "legal"

    Quote Originally Posted by surfer View Post
    I didn't read everything there, but I did not see where she committed to reporting now. She was waffling in the hopes that her and her "team" could recoup some of their losses, either not grasping or ignoring the fact that in order for that to happen more people need to lose money.
    In the process she said.

  4. #454
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    Re: USI-tech claims its' sale of unregistered securities in US "legal"

    Quote Originally Posted by EagleOne View Post
    [B][COLOR="#0000FF"]After the big video interview of Horst from Brazil no less, hmm the US does not have an estradition treaty with Brazil but I am sure this is just a coincidence, with John, Dave Marshall ate their lunch with his post in the group link referenced by okosh and Fat.City.LA.
    The US does have an extradition treaty with Brazil and has for decades. It's a popular myth that Brazil won't extradite to the US or other countries, they will and it's for a rather long list of crimes. What Brazil won't do is extradite a Brazilian national anywhere. Other nationalities are fair game, Brazil just takes their time about it.

    NUK

  5. #455
    littleroundman is offline Administrator
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    Re: USI-tech claims its' sale of unregistered securities in US "legal"

    That moment that comes when the lies you've been told become so outrageous, you just HAVE to speak out.

    The only thing necessary for the triumph of evil is for good men to do nothing

  6. #456
    littleroundman is offline Administrator
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    Re: USI-tech claims its' sale of unregistered securities in US "legal"

    Quote Originally Posted by John Harvey
    How will the average person, who isn't particularly techy, do their due dilligence and research these scams that have come, and are sure to come soon?
    C'mon now, 1% a DAY for 140 days ???

    How hard is that to research ???
    The only thing necessary for the triumph of evil is for good men to do nothing

  7. #457
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    Re: USI-tech claims its' sale of unregistered securities in US "legal"

    No withdraws for Australia for 8 weeks. Only NEW $ brought in from the rubes.
    From the excellent USI-Tech Scam page.

    https://www.facebook.com/18293965970...type=3&theater

    Also
    Oz with an update on Horst Jicha aka HORSE SHITcha latest bullshit from a hideout in Brazil.

    USI-Tech fails to respond to Texas cease & desist, vows to reopen US
    "the owner seems really confident and even promises this one won't be going anywhere"

  8. #458
    littleroundman is offline Administrator
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    Re: USI-tech claims its' sale of unregistered securities in US "legal"

    And here for your entertainment, ( well, not so entertaining if you're a US or Canadian USI-Tech member waiting to be paid) is episode 11 of the excellent PONZI SHOW.

    The only thing necessary for the triumph of evil is for good men to do nothing

  9. #459
    littleroundman is offline Administrator
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    Re: USI-tech claims its' sale of unregistered securities in US "legal"

    Maybe it's just me, but this particular USI-Tech member doesn't seem very happy to me.

    Apparently after he rang the Texas Securities Board he got a whole lot unhappier, as well.


    The only thing necessary for the triumph of evil is for good men to do nothing

  10. #460
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    Re: USI-tech claims its' sale of unregistered securities in US "legal"

    Quote Originally Posted by John Harvey

    I guess what I'm trying to say is: How will the average person, who isn't particularly techy, do their due dilligence and research these scams that have come, and are sure to come soon? I'm not an idiot. I searched and searched the best way I knew how to find information on USI Tech. I still fell for their scam because I found very little negative information on them and a metric TON of positive information. I was very skeptical because their claims seemed to good to be true, but at the same time, I couldn't find anything really refuting USI Tech, so I fell in.
    Very little "negative" information was all you needed to know. Circa July 19, 2017 USI-Tech Scam? Yes It Is In My Opinion! - Ethan Vanderbuilt & Jul.23, 2017 USI-Tech Review 2.0: Forex auto-trading dropped for bitcoin Ponzi .
    If you read those reviews and still chose to invest you shouldn't be handling your own money.

    As for a "metric ton of positive information", simply not so. What you found was a ton of people all hoping to recruit you saying the same thing. At best that counts for 1, since a Ponzi scam demands multiple participants this more accurately should have been viewed as -1. Also where you found information was problematic, Youtube and Facebook are venues for fraud. The SEC and state securities regulators weren't saying anything since USI and its "affiliates" weren't and still aren't properly registered. 1% a day is a security, even if you call it ham on rye.

    Ultimately it is up to the company not to "refute" information but to provide things in the affirmative. Had USI Tech properly registered with the SEC and utilized licensed brokers while soliciting it less questions would have remained. In part because the registration would have required independently audited financials. Of course if you can't or won't read those you're better off not taking the plunge. Last, when you are sending money anonymously over the web what the hell do you think will happen? This is hardly comparable to having a major bank holding the funds now is it?

    Quote Originally Posted by Char View Post

    Could someone please explain that it is the act of MLMing that is the scam and simplify it for him? The company or product is only a lure or cover to commit the act.

    His post is exactly why I keep harping on this message. Sorry.
    When this many people are recruiting for something the "product" is little more than a https://en.wikipedia.org/wiki/MacGuffin . It is much more cost effective for a company to market directly via a sales force unless the affiliates are themselves the target.

    In the case of USI Tech, let's say they raised $300M thought 700,000 affiliates. That is so inefficient in the real world the only conclusion one could draw is they were running a scam. USI if they could prove returns of up to1% per day would have easily raised that amount of capital through a handful of well connected brokers and probably even a single investor. The commissions they paid would have been far less and their reporting requirements much more streamlined.

    Sadly people continue to believe math doesn't apply.
    "It's virtually impossible to violate rules ... but it's impossible for a violation to go undetected, certainly not for a considerable period of time." Bernie Madoff
    https://www.facebook.com/pages/Scam-...98399986981403

  11. #461
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    Re: USI-tech claims its' sale of unregistered securities in US "legal"

    Quote Originally Posted by ribshaw View Post
    even if you call it ham on rye.
    now I'm hungry
    Haven't lost any money to online scams.......results are typical.

  12. #462
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    Re: USI-tech claims its' sale of unregistered securities in US "legal"

    Quote Originally Posted by Whip View Post
    now I'm hungry
    If you hadn't used your last piece of ham for these shenanigans your belly would be full.

    Ham on Rye.jpg

    The Problem.jpg
    "It's virtually impossible to violate rules ... but it's impossible for a violation to go undetected, certainly not for a considerable period of time." Bernie Madoff
    https://www.facebook.com/pages/Scam-...98399986981403

  13. #463
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    Re: USI-tech claims its' sale of unregistered securities in US "legal"

    John Harvey, to answer your question all you had to do was check with the Securities Regulators in each country if USI-TECH was licensed and registered with them as required by law. In the US, the SEC; in the UK, the FSA, the same holds true for any country in which USI-TECH is doing business. You would have discovered that they weren't and that is all you really needed to know to not join. Not only do they need to be registered and licensed with the SEC in the US, but in every state in the US they are doing business with the states securities commissioner, thus why Texas issued their Cease and Desist Order.

    And by the way, they still are not registered or licensed in any country where they do business.
    EagleOne
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  14. #464
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    Re: USI-tech claims its' sale of unregistered securities in US "legal"

    Quote Originally Posted by Gregg View Post
    There, I hope I've given Ken Russo, Simon Stepsys and that lot something to think about....for the rest of their lives. Here's too looking over your shoulder every time you get out of the car!
    My money on Russo being first and here is why.....

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    ʎɐqǝ uo pɹɐoqʎǝʞ ɐ ʎnq ı ǝɯıʇ ʇsɐן ǝɥʇ sı sıɥʇ

  15. #465
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    Re: USI-tech claims its' sale of unregistered securities in US "legal"

    Quote Originally Posted by surfer View Post
    Like it or not, MLMs are not illegal... at least here in the U.S.
    Just because it's legal, doesn't make it right. (Not saying surfer meant it was)

    Texting while driving isn't illegal in all states. I still think we should spread the message that it's dangerous to text and drive and strive to change the law. Same goes for MLMing.

    Quote Originally Posted by ribshaw View Post

    Sadly people continue to believe math doesn't apply.
    Probably because MLMing is legal. Go figure.

    Hope we got some new readers today. :)

  16. #466
    littleroundman is offline Administrator
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    Re: USI-tech claims its' sale of unregistered securities in US "legal"

    Don't get excited, people, you're not going to learn anything new about where your money has disappeared to.





    Remember the face and name - Lee Oakey - serial ponzi pimp
    The only thing necessary for the triumph of evil is for good men to do nothing

  17. #467
    littleroundman is offline Administrator
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    Re: USI-tech claims its' sale of unregistered securities in US "legal"

    It's hard to believe any legitimate law firm would want to publicly associate themselves with such a blatantly fraudulent scheme as Hart, David, Carson LLP is doing with USI-Tech, but, here ya go, they most certainly have done:



    Last edited by littleroundman; 01-25-2018 at 12:58 AM.
    The only thing necessary for the triumph of evil is for good men to do nothing

  18. #468
    ribshaw's Avatar
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    Re: USI-tech claims its' sale of unregistered securities in US "legal"

    That letter says nothing, FFS USI missed the deadline to respond to Texas now this? Guess Hart David didn't want to go 0 for 2 in Texas and this was the best they could come up with.

    My Advertising Pays processor lawsuit dismissed

    Tee Hee.jpg


    Oh and KYC, yeah USI played that hand last year when reserves needed to be built back up they pretended to be caring about compliance. Makes the fraudulent accounts story seem less than plausible I'd say.


    peekaboo.jpg

    Published on Sep 9, 2017



    What the hell was this.jpg
    Last edited by ribshaw; 01-25-2018 at 01:10 AM.
    "It's virtually impossible to violate rules ... but it's impossible for a violation to go undetected, certainly not for a considerable period of time." Bernie Madoff
    https://www.facebook.com/pages/Scam-...98399986981403

  19. #469
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    Re: USI-tech claims its' sale of unregistered securities in US "legal"

    Quote Originally Posted by Char View Post

    Probably because MLMing is legal. Go figure.
    I suspect many MLMs are operating illegally but simply go unchecked. Not much different than the Ponzi scams that fill the web. That certainly doesn't mean would be participants couldn't use the two tests below to sniff out scams. Either would have kept them out of USI to be sure.



    The 70 Percent Rule in a Nutshell.

    In a nutshell, the 70 percent rule is to be found in the distributor agreements or policies and procedures of most leading network marketing companies. Its intended purpose is to prevent purchases of inventory in unreasonable or excessive quantities by distributors. As it is typically stated, the rule requires that distributors procure orders for inventory only when they have disgorged themselves of at least 70 percent of previously purchased inventory. The bottom line is that the distributor should not reorder unless product which has been previously purchased has been passed on to the ultimate users. The Seventy Percent Rule by Jeff Babener MLM Attorney

    Koscot case has been referred to in every suspect pyramid scheme case since 1972.


    (1) Payment of money to the company;
    (2) The participant receives the right to sell a product (or service);
    (3) The participant receives compensation for recruiting others into the program;
    (4) The compensation is unrelated to the sale of products (or services) to the ultimate user.

    A (MLM) Skeptic: MLM Dictionary: Koscot Test

    Case Law, MLM, Recruiting Scams.


    Quote Originally Posted by Char View Post
    Hope we got some new readers today. :)
    Me too, all the information needed to prevent being USIed again is contained in this forum
    "It's virtually impossible to violate rules ... but it's impossible for a violation to go undetected, certainly not for a considerable period of time." Bernie Madoff
    https://www.facebook.com/pages/Scam-...98399986981403

  20. #470
    Fat City, LA's Avatar
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    Re: USI-tech claims its' sale of unregistered securities in US "legal"

    Some shameless comments in this one
    https://www.facebook.com/groups/7360...2%3A%22O%22%7D
    "the owner seems really confident and even promises this one won't be going anywhere"

  21. #471
    Daveyw is offline Senior Member
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    Re: USI-tech claims its' sale of unregistered securities in US "legal"

    Did anyone notice the date on the letter from the lawyer?

  22. #472
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    Re: USI-tech claims its' sale of unregistered securities in US "legal"

    Quote Originally Posted by Daveyw View Post
    Did anyone notice the date on the letter from the lawyer?
    Same old same old in ponzi land!!!

  23. #473
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    Re: USI-tech claims its' sale of unregistered securities in US "legal"

    Quote Originally Posted by Daveyw View Post
    Did anyone notice the date on the letter from the lawyer?
    Yep, it was dated Jan 22. A day after the deadline for filing a response in Texas. As the old saying goes, "A day late and a dollar short."
    EagleOne
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  24. #474
    Daveyw is offline Senior Member
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    Re: USI-tech claims its' sale of unregistered securities in US "legal"

    Quote Originally Posted by EagleOne View Post
    Yep, it was dated Jan 22. A day after the deadline for filing a response in Texas. As the old saying goes, "A day late and a dollar short."
    2017 is what I meant (sorry). Is this a typo? Was it typed last year? Or are they in such a rush to stem the flow that all professionalism goes out the window?

  25. #475
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    Re: USI-tech claims its' sale of unregistered securities in US "legal"

    @EagleOne

    They were referring to the year.

    Perhaps one of those early year typos.

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