🔥🔥 Goan Unemployed Youths being lured into FRAUD MLM Scheme involving Crypto Coin.
A Crypto Coin which came into existence only in 2024, traded only on one Chinese Exchange, being used as a bait to extract money from unemployed youth of Goa, on false promises.
Goan Youths are being lured into investing in a relatively very new Crypto Coin with hardly any public data available and abysmal daily trading volume, as a MLM Pyramid Scheme.
The youth of Goa are taking Bank Loans to invest in this MLM Scheme.
Insane returns have been promised and like every MLM Scheme, the focus is on recruiting new members and very fast; once one signs up and makes an initial investment.
Though, the use of word "investment" is highly detrimental in this case.
Apparently,scheme already has 2K+ Members.
1. 🚩 Just like all other MLM Schemes, very convincing pitch to youth :
You are not going to get a Government Job in Goa, even if you can, you would have to pay Rs.20 to Rs.25 for a Clerical job.
Just to pay back the Loan and the interest on it, would take you at least 10 Years
Invest in the Scheme, and get fantastic returns, from Day 1.
The more you recruit, the better, because you are going to get amazing bonus, and could recover your "Principal" amount out in the scheme, within no time. After that, it's all EASY MONEY!
2. 🚩 The so called "Team" is trading the Crypto Coins on an Exchange, which has almost a dubious reputation and has almost no transparency either on its operations or trading volume.
The Exchange ranks very low among Crypto Exchanges and is a Chinese Company.
3. 🚩 The so called Team neither talks about the particular "Coin"; it's stability, the past and the future, how its a great investment. (Also because, "Crypto" is a buzzword and enough to sound exciting and futuristic, for local Goan Youth).
Neither about the stability and robustness of the Exchange.We have seen in the past , how the so called such Exchanges have fallen to dust.
4. 🚩 This is the MAX Price Volatility Chart of the particular Coin
By all means, it has come into existence only in 2024.
Extreme Volatility for a new born !
Imagine the so called "Investment" of those who invested in recent past.
The current price of Coin is further low
5. 🚩 The MAX Price Volatility Chart of the Coin, says it started trading on 19th Feb 2024 and within 4 Months of Trading, it's Trading Volume has reduced to 1/4th.
What does it mean?
The money garnered through new recruits in Lacs in MLM, is not used in buying new Coins.
Fraud? Your guess, is as good as mine
Or, the selling Pressure is so high, that the only way the Coin is holding through, is through fraudulent means of garnering investors, through gullible means.
Else, the price would have been already much lower in 4 Months.
Why the Goa based "Team" (all locals of North Goa) choose a Crypto Coin for this MLM Scheme, is a no brainer; if you understand how the psychology of a MLM operator works.
Rather, the psychological trick deployed by him or her.
6. 🚩 This particular Coin is being traded only on that particular Chinese Crypto Exchange.
7. 🚩 "The Team" says that there would be a "Lock In" period of 2 Years to 5 Years; before the supposed "investor" could redeem his "Coins" from the date of investing.
The Coins would be redeemed at appointed date, at the prevailing price then.
The only way to make money is to recruit more and more members
The typical MLM Modus Operandi; so that, "Iski Topi Uskey Sar; and Uski Topi, Uskey Sar" can be made conveniently.
They say, everyone would get their individual account, and can see the value of their investment in real time of Crypto Coin.
Why those who invested in March are NOT crying then?
8.🚩 The most amazing part is "The Team" of Goans, have not told prospective and gullible investors about their corporate structure and whether according to the RBI Laws, they are allowed to solicit investment from individuals?
More So, when Crypto is highly regulated in India.
This is the first thing which you would do, if you were genuine and know what you are doing, to build trust, in the investors.
But then, in Goa there are so many gullible people, willing to transcend from "Patrao" to "Patrem" overnight, they doesn't not bother.
Also, literate illiterates..
🚩 THE BIGGEST RED FLAGS : THE PROMISE OF A LIFE, YOU CAN IMAGINE ONLY IN DREAMS!
One of the partners told, he already has two cars, ventures out in 3rd Hyundai Venue and is now buying a BMW 5 Series.
He has also recently built a palatial 🏠 house from the money earned.
He also said, the other partner is buying a Range Rover Discovery (check the price online).
Also, see the price of the supposed Crypto Coin in the charts shared earlier. They have tumbled down.
From where, the money is coming from?
Not a Wild Guess needed, at all.
Shripad Naik is the 6th Time #BJP MP from North Goa, from where this Operation is run from.
Most of the gullible youth who have taken Loans in Lac, belong to North Goa.
Why they have been pushed to the walls, to do this, is anybody's guess.
Where are the Jobs in #Goa ?
Between Modi, Mallya and Choksi; the BJP Government came in power between 2009 and 2014 on pretext of nabbing these absconders, we all have seen the result.
"The Team" making this MLM Crypto Coin scheme, knows this very well.
How many families, lives and dreams of Goans would destroy, because of the impotency and apathy of the ruling BJP Government of Goa?