Latest updates about
$TFG Crowd:
“In lawyer’s opinion, they are smarter than most of the p2p scams he have dealt with (as a reminder, Denis is managing Envestio and Kuetzal lawsuit). It is difficult to directly find a precedent in their wrongdoings. There are also no signatures of TFG crowd or borrower present in any of the loan agreements (man, feeling so stupid not even seeing this. And you?). However, Denis has come up with a plan that will help us get the answer to the main question: is TFG crowd a fraud? When we find a flaw in their actions, it will be easy to start criminal investigations and hopefully recover at least some money. But the most important is to ruin scammers reputation, so that they can’t find more victims. I feel that a lot of people are very pessimistic about starting the proceedings against them, and to be honest, I also feel the same way. Nonetheless, lawyer told me that in case of Envestio investors were also very pessimistic. But in the end, they started to coordinate their actions and recovering some money. It turned out, scammers weren’t so smart as they thought.’’
Conflict of interest in LEKS Group Project:
“when reading the project description - and seeing that TFG Crowd is investing themselves 20% of capital needed, I found it hard to believe that this LEKS Group is just some random company with no relationship to TFG Crowd.
So according to TFG’s blog the CEO is Sergejs Glanenko and in Company House he still is as the only Director of the company, but what about the shareholders? Well, recently there was a change:
This company has only 1 share and on 3rd October, 2019 it was transferred from Sergejs to The Finance Group Limited. And who is behind The Finance Group Limited Emils Kerimovs, CEO of TFG Crowd.
It looks like a big mess and many if not most of the projects funded in platform are closely connected or owned by TFG Crowd. Real estate project is the best example.
Emils is at the same filling out these roles:
CEO of TFG Crowd: providing 3 loans to LEKS Group
Owner of Finance Group Limited, which in turn owns LEKS Group
There should be a pledge from LEKS Group to TFG Crowd
There should be a a personal guarantee from Emils to TFG Crowd
At the end Emils is giving out 3 loans to himself and possibly providing guarantees to himself as well.“
Delayed withdrawals: Currently it takes approximately 5 days to process a withdrawal.
Lastly, the fake reviews on Trustpilot are getting more ridiculous - some are not even related to P2P.