According to the representatives of the South African police, more than 28 000 people became victims of a major cryptocurrency BTC Global pyramids, which promised its customers with absurdly high dividends.
Last year, marketing Agency SEO Spark has already warned investors that according to their analysis, BTC Global is a financial pyramid.
Investigating this major fraud was investigated by a special investigative unit the Hawks («Hawks»), a member of the South African Department of investigation of priority crimes (DPCI).
«Given the extent of fraud and the number of victims, the investigation was connected to a unit specializing in serious economic crimes. At the request of the citizens they were chosen for the target to attack fraud in the face of agents of BTC Global, which promised them guaranteed dividends 2% every day, 14% every week, and, in the end, 50% every month. Payments are made every Monday and some investors have had to get them. But suddenly the payments stopped,» – said in a statement.
Police say BTC Global has been collected from gullible investors a billion Rand, accounting for 80.4 million dollars.
In BTC Global in turn, said that to blame a man named Steve TWAIN (Steve Twain), with whom they collaborated on this project, and who allegedly went missing.
While it is impossible to say for sure whether the alleged organizer of the pyramid Stephen TWAIN. If you believe some of Cheri ward (Cheri Ward) is the real person. As she said, she was part of the team and even created a website btcglobal.team to coordinate actions within the team but also for clients to ask questions.
Although ward and TWAIN were in regular contact by e-mail and instant messenger, in person they’ve never met. When she asked him to send a photo, TWAIN «was very embarrassed». To communicate through video calls in Skype he also refused.
On the website BTC Global was announced that they have partnered with a very successful trader named TWAIN, who for six years very successfully trading binary options and over the past three years, provides its services to major investors with accounts from 10 000 USD.
The head of the DPCI, the General-the Lieutenant of police Jolisa of Matamata (Yolisa Matakata) has warned that this may only be the tip of the iceberg:
«There is a high probability that we found only a small part of what is really going on. Might have hurt a lot more people, and the amount of damage many times more».
May 25, the «Hawks» came to the conclusion that the fraud involve a company BitCaw Trading, although subsequently, it categorically denied all the accusations and on its part says the following:
«BitCaw Trading does not manage the money of third parties and do not accept any investments. We are shocked that our name is associated with alleged fraud,» – said the representative of the company.
Subsequently BitCaw Trading even threatened the Hawks court if they do not stop to disseminate information about the connection with the BTC Global. On Monday, the company’s lawyers published a letter stating that BitCaw irrelevant to BTC Global.
However, the representative of the «Hawks» Hangwani Malaudzi (Hangwani Malaudzi) stated that they have enough evidence to accuse BitCaw: «We knew that they would go in the media and we are fully prepared to resolve this issue in accordance with the appropriate procedure. The fact that they decided to go to court — that’s right. People need to seek clarification in court, and I am sure that we will solve all there. Our statements concerning BitCaw remain in force until we confirm otherwise.»