Kristaps Mors


$Iban Wallet Mexico company Clearchoice Management has been fined for an amount of 2.6 million pesos (43 786 Euro)

"In the case of Clearchoice Management (Iban Wallet), the sanction imposed on this platform, for 2.6 million pesos, was for infringing the Credit Institutions Law by attracting resources from the public, without the corresponding authorization from the CNBV to perform this activity. According to the sanctions portal of the authority, these three fines are subject to challenge."

The Financial and Capital Market Commission (FCMC) at its 21 September Supervisory Board meeting has approved the prospectus for initial public offering (IPO) of the Latvian financial service company AS DelfinGroup. The DelfinGroup IPO will be the first IPO of the shares on Nasdaq Riga since 2017.

According to the IPO prospectus, the subscription for AS DelfinGroup new shares will take place from 28 September 2021 to 11 October 2021 (including). Retail investors from Latvia, Lithuania, and Estonia and institutional investors from Latvia and selected member states of the European Economic Area (EEA), as well as other institutional investors in accordance with the prospectus for the initial public offering (IPO) will be able to subscribe for the offer shares. AS DelfinGroup is entitled to make a public offer and issue up to 7,300,000 new shares (with over-allotment option for additional 1,095,000 shares, and the total number of shares will then reach 8,395,000 shares). The subscription price for each new share is EUR 1.52. The minimum amount of investment is 1 share.

Kesenfelds family owns 65.19% of DelfinGroup

$Crowdestor has published a campaign that sells crypto tokens, related to Dystopia project. No information provided when IDO will take place.

CROWDESTOR investor community is offered to purchase ZEUM tokens for €0.02652 (0.0313 USD)*, while the token price at the Initial Dex Offering (IDO) will be set at 0.05 USD. This offer puts the CROWDESTOR community at an advantage over other retail investors, as the majority will be able to enter only at the IDO stage and purchase the ZEUM tokens at a much higher price. The minimum investment is 500 EUR, and in this round 1, 885 369 tokens are available at a total value of 50 000 EUR. A Token Lockup will be implemented for six months in order to avoid the price drop after the IDO.

*USDC gas fee (transaction) fee is not included in the investment and has to be paid by the investor.

The transaction will be implemented through a Czech company, “Fidelity Alliance” registration number 05366011, which has a cryptocurrency exchange license, allowing CROWDESTOR investors with significantly smaller financial participation to take part in this project and acquire tokens in a Private Round.

After the unlock period, tokens will be stored in a wallet controlled by CROWDESTOR. The investor can claim Utility Tokens once per month till the 15th. date. Utility Tokens will be delivered to the Investor`s virtual wallet by the 15th—date of the next month. The Investor undertakes to pay all expenses related to the transaction of the financial instrument.

$PeerBerry are decreasing interest rates and suspending "Invite a friend" offer:

"The adjustments in interest rates are related to the demand-supply ratio. Currently, our business partners have less need to borrow through the platform as they have accumulated large amounts of their own funds that they reinvest in their business. It has a temporary effect on supply and interest rates on the platform."

Artūrs Geisari continues to mess with $Crowdestor? SIA Elmets raised €62 658 from $Crowdestor, campaign finished on 08.08.2021

From Crowdestor campaign description about guarantees: "Commercial pledge on 50% of the Borrowers shares" - no such pledge is registered, but instead on 09.08.2021 a pledge was registered to Koronada SIA.

SIA Elmets also has a tax debt of €6213 and 94.9754% of SIA Elments is owned by SIA GST 51,
5.0246% is owned by Edgars Cers and there is lien registered on 09.08.2019 on Edgars shares from VID (Latvian tax authority).

Also interesting that when campaign was placed on Crowdestor, GST 51 had only 2 owners:
- Vladimirs Gasperovičs 50%
- Tauriņš Ritvars 50%

But only 4 days after campaign finished, on 12.08.2021 ownership was changed, and 50% of company was given away to 2 new shareholders:
- Artūrs Geisari 25%
- Iļja Sitovs 25%

Both Artūrs and Iļja are also partners at SIA Nordic Food - company that is selling magic water: - maybe targeting the same audience that invests in Crowdestor?

Of course, there was no mention of Artūrs Geisari in the campaign description and also no mention that Artūrs previously was part of Crowdestor team, and managed Crowdestor SME SIA - company that developed product to automatically score and issue loans to SMEs.

It will be interesting to see if the money borrowed will be paid back, but if we look at history and take into account following:
1. Artūrs Geisari was head of Monify, borrowed lot of money from different platforms to lend out and created a bad quality portfolio. Company failed, and it is rumoured that investors will lose about € 2 million.
2. Artūrs Geisari was leading Crowdestor SME automation product development, but after internal conflict left Crowdestor with lot of money burned, a product not used and a tax debt of €170k.
3. Crowdestor has not learned from it's mistakes and still is not registering pledges, just writing false claims in project descriptions.

My guess - this will be another problematic case where money is basically donated.

Interview with Janis Timma, CEO of $Crowdestor - Part 3

00:00 Crowdestor Flex - why was it hidden?
05:50 Does lending company that raises capital, needs a license?
07:05 Why are Flex portfolio companies hidden from investors?
08:05 How much money was raised from ticket sales?
09:06 Would you be able to repay equity loans without ticket project?
11:05 Ticket sales are hidden, what happened?
11:50 Where would you like to move Crowdestor company?
12:14 Which regulators have issues with Flex and tickets?
12:48 Can a regulator ask to refund ticket sales?
14:10 Would you be able to spend 800k to solve urgent issues?
15:01 Should platform get their fee when loan is repaid?
15:30 Ticket project description
17:55 What will happen with money raised from remaining ticket sales?
19:05 Will ticket money be used straight away?
19:40 Investors are buying tickets to repay their own loans?
22:20 How many people work for Crowdestor?
23:10 Monthly burn rate?
23:30 Funded volume
24:30 Average fees, cash flow
25:34 How big are Crowdestor reserves?
26:40 Poll about legal action against Crowdestor
27:26 What is happening with big projects?
29:08 Why is Fertilizer not counted as capital loss in stats?
29:30 What happened with Buyback (Provision) Fund?
32:47 Should not Buyback be triggered when loan is in default?
33:35 Can you prove this 400k fund exists?
35:25 Why withdrawals are marked as refunds?
36:53 Georgian loan portfolios
38:15 Vormsate castle, Medical centre Aizupe
41:01 Any steps taken to become regulated?
41:58 Is there a risk to freeze operations or shut down?
42:39 Current business model is not working?

Watch it here:

Previous parts of interview:

Rise and Fall of $TFG Crowd: Brief History of Another P2P Ponzi Scheme.

TFG investor wrote an overview of what has been happening with this questionable P2P platform in last couple of years:

- Fake buyback guarantee
- High review score
- Blaming Covid for bad performance
- Scam investment plans
- New director
- Shady credit reports
- No support, fake reviews
- Legal action group

"Unfortunately, it still remains uncertain how long will TFG Crowd Scam operate and how many more victims this Ponzi Scheme will attract. One is certain, however. The story doesn’t finish here."

"If you feel like you are being scammed by TFG Crowd, you can join the action group by filling out this questionnaire. You will be added after to a telegram group and, hopefully, get the help you deserved."

Interview with Janis Timma, CEO of $Crowdestor - Part 2

00:00 Promise about strict policy, no-mercy to borrowers
06:15 Grocery store - 17 months late, still not defaulted?
10:00 Connected projects - conflict of interest, debt recovery
16:10 Delivering updates each month
17:00 Commissions paid in cash?
18:25 7.6% of projects are in recovery, any results so far?
19:35 Organika case
21:43 Projects with no hard assets to sell
25:10 Warhunt movie - still looking for buyer?
26:58 Would you agree to external audit of portfolio?
28:35 Are some of objects very bad?
30:57 Can Inch2 be defaulted?
32:35 How many criminal cases so far?
33:15 70-80% discounts in secondary market
36:35 Crowdestor Flex - why was it started?

Watch it here:

Interview with Janis Timma, CEO of $Crowdestor - Part 1

00:45 Dižozols - how it started?
04:00 What are other successful projects on Crowdestor?
06:00 Who are Crowdestor co-founders?
07:55 Changes in Crowdestor Security Agent ownership
08:23 Lending automation to SMEs - what happened to this project?
12:27 Why did Artur Geisari left Crowdestor?
13:10 Marketing - 15y of experience, debt recovery - first job?
14:52 Real Estate projects - does anyone have experience with RE development?
19:50 What are other projects connected to Janis or Gunars?
20:40 Exiting connected projects
22:46 Crowdestor Security Agent OU - no reports, is it empty?
24:19 Crowdestor SME SIA - tax debt of 142k EUR?
25:45 Pledges registered with Crowdestor Security Agent SIA
30:50 Meža Enerģija list of assets - where is it?
31:40 General view on Meža Enerģija
33:10 What is the point, where you stop waiting?
34:40 Inch2 - what happened?
38:12 Orange Square Transport - Janis had 100% control?
41:50 Dystopia user acquisition campaigns - why are they late?

Watch it here:

$Viainvest is about to acquire investment brokerage firm (IBF) license and is asking their investors to verify their identities again:

As VIAINVEST is about to become a member of the finance market by acquiring the investment brokerage firm (IBF) license, our investment environment is becoming more secure than ever. One of the preconditions for secure and transparent investing is a fully verified investor profile, so we invite you to use our partner’s service to verify your identity. Please note that you are able to skip this step once, but in a week you will not be able to access your investor profile without successfully completing the personal identification process.