- USI Tech Limited is an HYIP or high yield investment program that offers an ROI of about 1% daily for 140 days, equally a total ROI of 140%. The company claims to be registered and based in Dubai, UAE and specialize in trading on the cryptocurrency market with their automated trading software that they invented.
I noticed that the websites have two different business addresses listed on them. Their official website shows the following information:
P.O Box 122036 Dubai, UAE
Dubai Business Registration: ICC20160282
This information is NOT valid. Actually it belongs to another Dubai business by the name of Rakicc, a Middle Eastern investment consulting group which is not affiliated with USI Tech. Its website link is: rakicc.com/agents/fidfinvest-middle-east-consultants/. Apparently USI Tech has chosen to steal another company’s address and business registration number.
The second address listed:
P.O. Box 65736
708 Fairmont Hotel Sheikh Zayed Road Dubai, UAE
It is a virtual office provided by First Business Center. Anyone can purchase a virtual office service from First Business Center (firstbc.ae/) complete with a registration number, phone number, and office location. It is important to note that none of the men associated with USI-Tech live or work in Dubai.
It turned out that USI Tech tried at some point to registered a company in Ras Al Khaimah which is a common place for offshore businesses to register in the UAE.
It has been confirmed that USI Tech has not been registered in UAE for at least the past six months.
USI-Tech’s original business model was based entirely on the access to an automated forex trading platform for which the company charged affiliates €600 EUR. USI-Tech claimed that their trading software was making ROIs of more than 100% annually. The company never provided any proof of past or present trading even taking place. Because the business was becoming less and less popular, USI-Tech’s owners decided to relaunch as a cryptocurrency opportunity. The main idea behind USI-Tech’s daily ROI was bitcoin trading and mining. But just as with the forex trading, the company did not provide any proof of bitcoin trading either.
Since March 2017, USI Tech has begun making huge headlines throughout the USA for its low-level entry point in investing Bitcoin into USI Tech’s Btc package program with guaranteed profit. According to the founders and leaders, all of this was possible because of USI Tech’s bitcoin trading and cryptocurrency mining connections.
In the video recording on May 3rd, 2017, one of the founders, Ralf Gold is talking about having their own financial license for USI-TECH (I quote) “ready this month…this is valid in the whole world to make own brokers and bullion, everything”.
In the late May, 2017, USI Tech announced on it’s website: “USI-TECH NOW IN USA”. The website domain (“usi-tech.info”) was registered on the 23rd of June, 2016. Joao Severino is listed as the owner of the domain, with an address in Portugal. This announcement is quite interesting because according to Alexa estimate, the traffic to the website started in the USA and the USA has always been the top source of traffic to USI Tech’s website, meaning USI-Tech is and has always been in the USA.
On August 28th USI-Tech held an event during which came yet another announcement. USI-Tech corporate got on stage and announced the law firm Hart & David. In what appears to be a direct challenge to the SEC’s securities regulation, he assured that Hart & David lawyers advised them that USI Tech’s unregistered securities was a “legal product”.
“It has been examined by our lawyers and in their legal opinion, it is a legal product.
It is legal to sell this product as a network marketing product in the United States of
“Our lawyers have done all of the research necessary.
They have talked to the Federal Trade Commission and they believe, in their legal
opinion, which is binding, that USI-Tech Limited is a legal network marketing
company – with their two products, the forex software and the BTC package, in the
United States of America.”
In reality, USI-Tech Limited is not and has never been registered to offer securities in any jurisdiction they operate in.
On Dec. 20, 2017, Texas Securities Commissioner Travis J. Iles entered an Emergency Cease and Desist Order against USI-Tech Limited.
According to the order, USI-Tech is telling potential investors they can make more money by convincing other individuals to invest in the company’s bitcoin packages and by doing it the investors could earn “up to 35% commissions” based on its “unique referral marketing plan.” USI-Tech is not informing investors of the danger in being paid commissions from referrals. Individuals paid these commissions must either be registered with the State Securities Board or qualify for an exemption from registration. In addition to violating registration requirements, USI-Tech and the sales agents are violating State Securities Board rules by failing to disclose information investors would need to make an informed decision about whether to invest. The disclosure violations include:
Information about the facilities used to mine bitcoins, the costs of mining bitcoins, and whether they have successfully mined bitcoins;
The terms of the contracts and an explanation of USI-Tech’s “non-exclusive interest” in mining contracts; and
Information about whether the company’s financial condition is strong enough to provide a 1% daily return.
Following warnings were also issued against USI Tech:
- USI-Tech investor warning issued in BC, Canada - Dec 18th, 2017
- USI-Tech investor alert issued in Nova Scotia, Canada - Dec 22nd, 2017
- USI-Tech investor alert issued in Manitoba, Canada - Dec 23rd, 2017
- USI-Tech securities cease trade order issued in Ontario - Feb 16th, 2018
With each USI-Tech affiliate required to recruit three affiliates just to qualify for matrix commissions, mathematically the majority of USI-Tech affiliates are guaranteed to lose money.
USI Tech Limited claims to be a technology company which specializes in the development of automated trading software in the FOREX market. Although there is no evidence or proof of the software capabilities, the company maintains that in the last 8 years, more than 100 software versions with different characteristics have been developed and successfully employed in long-term tests. USI Tech proclaims to have a top-class development team with over 20 years of experience whose software systems were developed for trading in direct cooperation with reputable brokers. However, when questioned about it, they were not able to come up with even one name of a development team member or broker.
It is confirmed that since the beginning of October 2017, there has been no trading at all taking place. It means that everyone who signed up with USI Tech since October was misled and lied to by the founders and leaders.
USI Tech was founded by Joao Severino and Ralf Gold, and they both have a history of being involved with some very questionable projects. Reportedly, Joao Severino has been barred from financial activity in Portugal, due to his involvement in a scam called AMC Invest. Ralf Gold has been reportedly involved with a number of Ponzi schemes, including AdsProfitReward, MX Fast Money, World Consumer Alliance, HourlyRevShare, AdsProfitWiz, APR Clicks, and Upper Game.
January 5th, 2018 the company suddenly closed our accounts in USA and Canada and since then I have not received any payments and they refused to return my Bitcoin. Then a following letter was posted to our back office:
USI News from 24.01.2018
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 itâ€™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.
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.
I discovered that Duane Noble from McCune, Kansas whose real name is Byron D Sneeringer b. Jan 17, 1979 (tel. 816-617-5299) has quite an extensive criminal record and uses various aliases. I believe he is the main person behind this scam. His team is called SYNERGY TEAM.
- He was convicted of crimes like. violence with personal injury, stocking, extortion and a few protective orders were issues against him. When I tried to learn more, it became apparent that he spends most of his time working with multi-marketing companies. Many of those he organized and initiated by himself. However, the evidence shows that he never had any intentions of growing a successful business.
- He would start a company and grow it rapidly by offering unrealistic rewards and payment plans, which would attract a lot of people in a short amount of time. He would grow his members’ group, then he would start pulling the investment out. The company, operating solely as a Ponzi, quickly runs out of funds and stops paying. At that particular point Duane/ Byron adopts a role of a compassionate leader that helps all those who lost to transition and adapt. He is inviting everyone to the new endeavor, which he has been already preparing months before the collapse of the former one. Sometimes he runs two or more companies at the same time or he would introduce two or more products within a single company. He would even promote new products in a collapsed business, knowing too well that the investors would loose it all. That was what happened to me and my friends with USI-Tech Limited. Realizing that he was not able to convince us to invest more, he would start removing us from the forums and discussion groups where most of the new recruitment was taking place.
- Please help us influence this man to return our BTC. He must stop taking advantage of so many innocent people. He needs to be taught that the laws apply to him as well. Most important of all; he should not be allowed to threaten our families. Following words are part of a text message we received from Byron: “and try me… you should be running scared because I am not playing games and you should be scared of me for your family’s sake.”
"Please take your money out, trust us all these ppl are not trolls we are all the people mugged by this gang that now runs usi tech we are victims of their previous scams and just trying to break their cycle. we know they work in a syndicate system they put a few white ppl as the superiors in charge and then Asians and then the black people down the ranks they use religion charm to psychology get to your pockets and act as though they are on common ground and affiliates trying to better lives but they are wolves in sheep clothing ask victims or Google Sharon James a very well known scammer sunny Hussain very well known scammer Immy Aslam very well known scammer they own virtual directors in overseas countries and hire actors and they run the ponzi schemes within the circuit. They are a gang of criminals who all met in a swinging sex house, it's very very messy just try and get your money out.
You know we used to call ppl haters when we was in usi techs previous scam and the previous victims used to warn us today we warn you too, so we have no need to respond rudely as after all its you in their trap this time we are now involved in independent self accessed incomes"
I sent them the following resignation letter:
USI-Tech ID # 1272961
PO Box 680213
Park City, UT 84068
March, 20th, 2018
VIA ELECTRONIC MAIL
Horst Jicha (founder) firstname.lastname@example.org
Jonathan D. Herpy SR. (USI-Tech lawyer) JDAVID@HARTDAVIDCARSON.COM
Duane Noble (USA Leader) President@oursynergyteam.com
“Dear USI-Tech, I Quit
Dear Mr. Jicha:
It is with deep regret that I submit my notice of resignation from USI-Tech Limited. I hope you find the time to read my entire letter. Before describing the reasons for my decision, I would like to offer some context:
I am proud of everything I have done during the four months I have been a contracted member of USI-Tech. I was in no way involved in — or responsible for — the Bitcoin reserve deficit nor the default transactions and withdrawals that supposedly have hamstrung USI-Tech. Nor were more than a handful of the about 500,000 current members. Most of those responsible have left the company and have been conspicuously trying to escape the public outrage. Many of them have already started to recruit for their new projects which display an incredibly similar mlm appearance.
After 4 months of investing and contributing to the growth of the company — during which USI-Tech leaders reassured us many times by glorifying a guarantee of evergreen earnings. We were essentially guaranteed to earn bitcoin on our investments and to also be rewarded with bonuses up to 12 levels deep for recruiting new customers who also want to join and invest to earn more bitcoin.— we, that signed up with the company during the last four months of 2017 have been betrayed by USI-Tech, unfairly confronted with unsubstantiated accusations and treated with lack of respect by the founders and leaders. One could go through the whole website and not ever notice the risk warning written in a conspicuously small font. However the “guaranteed” returns assuring messages written with a huge font were spread everywhere on the colorful pages. I have a copy of that website and copies of more than 200 advertising videos for reference. About 99% of them have no warnings of risk at all and at least 80% misrepresent to an unbelievable extent the possibility of earnings with USI-Tech. I never advertised on the internet any content of the company. Most of the members from my group did not advertise either. But shockingly in your letter from January 4th, 2018 and January 25th, 2018, we are being unjustly and offensively attacked and punished because according to you, a couple of members in another state used advertising materials in an inappropriate way. You as the founder and a part of the management, are entirely responsible to be checking and monitoring the internet for detect early this kind of behavior. In those letters you should have been apologizing to me and others for not doing your job correctly and placing the company and our investments at risk. Looking at the documents that came into light recently, one may suspect that the whole “Texas advertisement drama” was orchestrated by someone from the management.
You and I have never met or spoken to each other, so I'd like to tell you about myself. I was born and raised in Poland under the strict rules of the communist regime and even stricter rules of my parents who are educated middle class hard working people. I moved to the USA about 20 years ago. I was privileged to attend classes at the U of U and earn two bachelor degrees in psychology and literature. Following my American dream I went on to obtain Master degree in languages and literature and attended a doctorate program. My two greatest passions were always teaching and writing. Oh, there was one more, I was a bobsled driver and represented my country in various worldcups and world championships. I am extremely grateful for all the fantastic life experiences. Most of my success can be attributed to my hard work as well as to the values that were installed in me by my parents. Honesty, responsibility, integrity, perseverance and compassion are the five virtues that have always guided my life.
You can understand now how I came to the conclusion that my core values are not aligned with the dysfunctional organizational culture at your company. Earlier today I watched again a conversation you had (over Skype I believe) with some of the leaders on May 3rd, 2016. You were assuring them that all the necessary licenses would be acquired in the following three weeks as well as proof of income from mining. However, although it was stated on the main page of the company’s website, in reality USI-Tech never had any legal documents as a company; not in the USA, nor in the UAE and I suspect nowhere in this galaxy…
This letter is to officially inform you that I do not agree with the amendment that USI-Tech announced on February 24th, 2018. This letter also serves as a resignation from my member position at USI-Tech, effective immediately. I have always complied with every provision, term and condition of the contract as well as all applicable local, state, national and international laws. Unfortunately the same cannot be said about you and your company.
You state the following in your notice:
In regard to the legality of the termination of the above mentioned BTC Packages without notice, we refer to our terms and conditions, which you have accepted, in which it states verbatim:
“USI-TECH expressly reserves the right and ability to discontinue
service at any time without prior notice.”
In response, I refer to the same terms and conditions, clause 21 (3), that at this point my right is that I can object any amendment and terminate the agreement at the point at which the amendment takes effect, which is immediately.
You are in default of your obligation to pay on the acquired packages and you unlawfully deny me the access to my Bitcoin earnings on my account at USI-Tech Limited. According to my accountant and myself the amount due is well over 12 Bitcoins and it doesn’t even include all the expenses.
Unless payment of the above amounts is received within two business days of the date of this letter, I will have no alternative but to exercise whatever rights and remedies I have under the law to enforce such payment, including but not limited to institution of legal proceedings against you to recover the above amount, together with accrued interest and legal expenses.
Kindly govern yourself accordingly.
There is a lot more about this company. I have evidence to everything (pictures, letters, videos, recorded conversations etc).
But they ignore all emails, calls and letters.... Will I ever be able to recover my Btc?
Is Byron the Porn Baron?...