Thread: 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

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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.


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Published on Sep 9, 2017



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Originally Posted by Char

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

http://www.realscam.com/f21/case-law...ng-scams-2848/

Originally Posted by Char

Hope we got some new readers today. :)

Me too, all the information needed to prevent being USIed again is contained in this forum

Some shameless comments in this one
https://www.facebook.com/groups/7360...2%3A%22O%22%7D

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

Originally Posted by Daveyw

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

Same old same old in ponzi land!!!

Originally Posted by Daveyw

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."

Originally Posted by EagleOne

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?

@EagleOne

They were referring to the year.

Perhaps one of those early year typos.

SIGH, Some people just ain't got the sense they were born with

Things that make you go .....

Originally Posted by littleroundman

https://www.tanyadransfield.com/

usi scammer.JPG

lol

Oh dear.... she's a therapist.

Well, at least she can help her victims calm down once she's done screwing them over.

Charlie Scamville vs Ineeda Scamley (Anita Langley) & USI-Tech
https://www.facebook.com/charles.sco...5258892762717/

Do you mean THIS Lee Oakey?

Lee O Jan 18.jpg

Several vids on You Tube about imarkets live.

Originally Posted by Fat City, LA

Charlie Scamville vs Ineeda Scamley (Anita Langley) & USI-Tech
https://www.facebook.com/charles.sco...5258892762717/

Did anyone watch that live? Did he really say that USI have approached the usual bigger fish like little Frank jnr, Sharon James for 25℅ of their back handers back so they can pay people?

Originally Posted by Daveyw

Did anyone watch that live? Did he really say that USI have approached the usual bigger fish like little Frank jnr, Sharon James for 25℅ of their back handers back so they can pay people?

Good luck on that.
Wittle Fwankie's $ went to shoe lifts & boys size large jeans.
Sharon's $ went to the all you can eat buffets & buckets of Kentucky Fried.

Good catch daveyw. Amazing what your eye is trained to see. Since most of us are so focused on making sure we write 2018 I automatically saw 2018 instead of 2017 on the letterhead. I know it was a typo due to the content, and yes they were in such a rush to get this out it slipped by them. Got to try and do all the damage control you can to keep the Ponzi running a little longer.

Now they are asking the major recipients of their largess to give some of the money back so they can pay the regular members. A first in Ponzi history. You can now say that USI-TECh has gone where no other Ponzi has gone before.

Surely there's someone in the UK whose responsibility it is to protect its' citizens from fraud and fraudsters.

Even the work experience kid would be able to make a case against serial pimp, Sharon James.

In light of USI-TECH thumbing its nose and giving the finger to the Texas Securities Commissioner's action, this in from the SEC and the CFTC:

"The U.S. Securities and Exchange Commission wants to bring sales of new digital tokens, or initial coin offerings, under its authority. The SEC is devoting a significant portion of its resources to the ICO market," commission chairman, Jay Clayton, and J. Christopher Giancarlo, chairman of the Commodity Futures Trading Commission, wrote in a commentary piece published late Wednesday in The Wall Street Journal.

Through statements, reports and enforcement actions the SEC has made it clear that federal securities laws apply regardless of whether the offered security—a purposefully broad and flexible term—is labeled a 'coin' or 'utility token' rather than a stock, bond or investment contract."

Any bets that the SEC is going to be making an announcement real soon about USI-TECH and it won't be about approving them to operate in the US?

Originally Posted by EagleOne

I
Any bets that the SEC is going to be making an announcement real soon about USI-TECH and it won't be about approving them to operate in the US?

At those odds - not a chance.

IM(very)HO, the only questions now remaining are: how hard will the inevitable crackdown be and how many players will be made an example of as the SEC and CFTC stamp their authority on the fake crypto world

The one thing that never changes is how often the USI Tech story changes.



Paul Oliver
Admin · January 24 at 8:32pm

https://www.facebook.com/groups/3900...4660443570579/

*** IMPORTANT UPDATE FROM HORST ***

USI News from 24.01.2017

Important news from USI TECH - Horst Jicha

Dear Customers and Business Partners,

The USI TECH Corporate Team is constantly working on the continued sustainability and success of the Company and we are delighted to formally announce that we are re-entering the North America (USA and Canada) market with immediate effect.

USI TECH customers in these jurisdictions will now be able to buy BTC packages and continue to enjoy the benefits of our product.

We are also working closely with our corporate lawyers to look at ways of resuming commission payments and continuing the referral commission for our partners in North America. In the meantime, new customers can be recruited in North America, but provisionally no commissions will be paid until a suitable and compliant solution can be found.

The following applies to all sales partners:

The rebuy commission is currently adjusted so that USI TECH can rebuild reserves and to avoid any further manipulation of our compensation plan whilst we complete our extensive audit. The Company's investments are strategically placed for medium and long term returns, giving the company a sustainable platform to operate from in order to fulfil our claim of being a leading company in the crypto space.

Please note that commissions for the rebuy packages have been discontinued for the reasons already stated and it is important for the company to stress that commissions on rebuy packages are NOT accumulated for future distribution. However, it is the companies intention to resume commissions on rebuy packages once it has completed it's audit and it is safe to do so.

This situation arose due to a system error that remained undiscovered for only a few days. Unfortunately, it was possible for some sales partners worldwide, (especially in North America), to professionally manipulate the USI TECH payout system. Funds in the three-digit million range were unjustifiably withdrawn. We are seeking legal advice as to what action to take under criminal procedures to bring the perpetrators to justice, as the damage they caused could have had severe commercial ramifications had USI TECH not had the financial strength to recover. We have been humbled by the commitment of many USI TECH top leaders, who have worked closely with us to help stabilize USI technology reserves, which will also help us achieve the fulfilment of our mining contracts.

With the fulfilment of these contracts we will embed further stability to our company and by May / June 2018 USI TECH will actively boast an impressive 600 Petahash of bitcoin mining. We have already invested a great deal of capital in this market and will continue to do so that will further de-risk our product for the safety of our partners/customers. This will also give USI TECH, partners and customers a global lead in future technology and command the best strategic partners to ensure the most favourable commercial terms for our business giving us greater margin and success - making us a market leader in the Network Marketing arena for us all to enjoy and benefit from.

The priority for USI TECH is the controlled payout of the BTC packages for all partners and customers. The second priority is the controlled payment of commissions meaning there is NO further manipulation of accounts.
Transparency is important to USI TECH.

USI TECH has never had a problem in the USA and Canada, the authorities have been active solely through misconduct, false statements and unauthorized marketing activities of local distributors, which is detailed in the corresponding memorandum of our corporate lawyers below.

PDF english / PDF german

The USI TECH Corporate compliance team has been enhanced to ensure we stay compliant and to police any further manipulation of accounts with a strictly no tolerance policy. For you and for us, it is important to communicate faster and better with each other and there will be soon be an internationally valid and legally compliant presentation of the business opportunity, as well as a professionally managed corporate social media presence. None of your questions will remain unanswered as USI TECH are committed to investing in exemplary communication, compliance and customer support.

We have always created a family atmosphere here at USI TECH and we are strong together - Now is the time to go to work and build your USI TECH business.

Together we will win and create a legacy for you and your families future.

Yours faithfully,

Horst Jicha.

You're more than welcome to put money into USI Tech, taking it out not so much. What could possibly go wrong?

Originally Posted by Hoistda Jizzmop

USI TECH customers in these jurisdictions will now be able to buy BTC packages and continue to enjoy the benefits of our product.

Please note that commissions for the rebuy packages have been discontinued

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Look for these warning signs:

High investment returns with little or no risk. ...
Overly consistent returns. ...
Unregistered investments. ...
Unlicensed sellers. ...
Secretive and/or complex strategies. ...
Issues with paperwork. ...
Difficulty receiving payments.

SEC.gov | Ponzi Schemes
https://www.sec.gov/fast-answers/answersponzihtm.html