LEOCoin Founders Linked to Pyramid Scheme in Pakistan

280 views

Cryptocurrency
LEOCoin Founders Linked to Pyramid Scheme in Pakistan
The current alternative money hype launch, LEOCoin, has actually obtained a fair bit of interest, complying with a series of extravagant cases. The developer team behind LEOCoin, in a current CNBC write-up, declared that numerous thousand business were willing to accept the electronic currency.

“The company therefore asserts it has 131,176 registered businesses ready to use LEOCoin, possibly making it the “second biggest digital money” in the world.”.

Many media electrical outlets have actually requested the founders of LEOCoin to give some evidence to support the claims made because specific CNBC article. No commentary has been so much by LEOCoin representatives. Since today, no one appears to have any sort of suggestion regarding which the 131,175 business actually are. LEOCoin’s developers, Dan Anderson as well as Atif Kamran, have a rather checkered previous.

In 2012, Anderson and also Kamran were cautioned by the Securities & Exchange Commission in Pakistan (SECP), pertaining to a potential pyramid plan (UNAICO Pakistan) the duo was operating in the country. Baseding on an examination carried out by the SECP, UNAICO was discovered to be running a MLM/Pyramid system:.

“The Commission received various queries/complaints from general public mostly through e-mail notifications including emails dated 23.03.2011, 17.03.2011, 25.04.2011 and18.07.2011 where it was highlighted that the Company is involved in business of Multi-Level Marketing (MLM)/ Pyramid Schemes. On getting the abovementioned e-mails, the Company Registration Office, Islamabad (the “CRO”) carried out an initial questions to probe the concern and to see if the Company was actually involved in business of MLM/Pyramid Schemes. The query about events of the Company, exposed that it is involved in ultra infection tasks like MLM/Pyramid Schemes”.

The LEOCoin endeavor is being run in a comparable style, as participants of the LEOCoin neighborhood are compensated for soliciting business about LEOCoin. The developer group is preparing to develop a LEO-to-fiat exchange, and also point-of-sales hardware terminals. As pointed outing by Anderson, participants will certainly be compensated with LEOCoin tokens for attacking specific sales targets. The LEOCoin cryptocurrency, belongs to a much bigger company called Learning Enterprise Organisation, an e-learning entrepreneurship academic platform, based in Oxfordshire, United Kingdom.

The LEOcoin job seems to have actually started in June of 2014 in Dubai, under the name “Project X”. The Dubai launch video clip of Project X, resembles the same advertising tactics that were utilized in the MyCoin celebration video clip. Atif Kamran was likewise explored by the National Accountability Bureau (NAB) in Pakistan, as pointed outing by an article by PakistanToday. As pointed outing by the article, Kamran’s bank accounts were frozen, and also he was positioned on an Exit Control List (ECL).

An article committed to laying out LEOCoin’s settlement plan, utilizes mottos such as “True success causes no injury”, “Diversity is empowering”, and “Fast is far better than slow-moving”. The website likewise lays a heavy focus on the compensation system, which includes employment right into an MLM-type organization, with up-lines as well as downlines.

Comments

comments

Tags: #LEOCoin #LEOCoin Founders #LEOCoin Founders Linked to Pyramid Scheme in Pakistan #LEOcoin job #LEOCoin Pakistan founders #LEOCoin representatives #LEOCoin review #LEOCoin scam review #Multi-Level Marketing (MLM)/ Pyramid Schemes #pyramid scheme

Leave a reply "LEOCoin Founders Linked to Pyramid Scheme in Pakistan"

Human Verification: In order to verify that you are a human and not a spam bot, please enter the answer into the following box below based on the instructions contained in the graphic.


Author: 
author