I obtained an electronic mail this morning from SP Ting, in search of to distance Snap Improvements from Torque Buying and selling.
This promoted me to ask… who’s Snap Improvements?
I’d seen Snap Improvements talked about within the feedback of our Torque Buying and selling collapse articles.
Seeing because the rip-off had collapsed and admin Bernard Ong was MIA, I didn’t see any level retrospectively wanting into it.
The out-of-the-blue electronic mail from Ting Shang Ping, AI Analysis at Snap Improvements, modified that.
On their web site Snap Improvements describes itself as ‘an Synthetic Intelligence, Blockchain, Monetary Buying and selling & Expertise Options firm.’
We assist you obtain your funding targets, based mostly on particular person danger preferences, by way of a variety of funding merchandise accessible anytime, anyplace.
Our merchandise vary from Dealer Options, Dealer Options and Crypto.
No specifics are supplied. Neither is there any pricing accessible.
Longtime reader Semjon has already linked the dots between Snap Improvements and Torque Buying and selling, so we’ll depend on his analysis subsequent.
Key gamers connecting Snap Innovation to Torque Buying and selling are:
- Bernard Ong – solely recognized Torque Buying and selling admin
- Zee Wu – Torque Buying and selling CTO
- James Teo – Torque Buying and selling CIO
- Jackson Png – Torque Buying and selling CMO
Listed below are their Snap Improvements alter-egos:
- Bernard Ong – Director, Snap Improvements
- Zee Wu – Director, Snap Improvements Vietnam
- James Teo – AI, Banking Mentor Snap Academy
- Jackson Png – Director, Snap Improvements
With that data in hand, right here’s the laughable electronic mail TS Ping despatched me this morning;
It has been delivered to our consideration that there are specific events making an attempt to hunt restitution from Torque Group as a result of a notification in sufferred [sic] buying and selling losses.
The shareholder(s), director(s) and workers of Snap Improvements Pte. Ltd. are neither shareholder(s), director(s) or concerned within the resolution making or administration of Torque Group.
We wish to warning most people and state categorically that Snap Improvements Pte. Ltd. haven’t authorised any personnel(s) or entities to solicit funds from most people.
Our firm takes a critical view of such falsehoods.
How are you going to faux Snap Improvements had nothing to do with Torque Buying and selling when half your govt workforce had been concerned?
Since Torque Buying and selling’s collapse, Snap Improvements has scrubbed Bernard Ong, Zee Wu and James Teo from their web site.
Jackson Png remains to be up, which we will solely assume is an oversight.
And this isn’t even Snap Improvements’ first MLM Ponzi rodeo.
Again in December 2019 Semjon linked Snap Improvements to Cloud Token.
Following Cloud Token’s October 2019 collapse, Snap Improvements pulled the identical “we now have nothing to do with the Ponzi scheme we’re in mattress with” routine.
We wish to inform that Ribbonsotc.com is owned by Firstcube Sdn Bhd, and Snap Improvements is just offering the technological elements of an P2P OTC platform.
Kindly notice that we don’t handle, function or present any type of technical and shopper assist for Ribbonsotc.com.
For any enquiries pertaining to Ribbonsotc.com, please contact Firstcube Sdn Bhd, or contact them through stay chat on the web site.
As per Semjon’s analysis, TS Ping himself was a “main determine” within the Infinitus Token Ponzi scheme.
Infinitus Token was a part of the World Blockchain Discussion board Ponzi manufacturing facility, seemingly tying all of this collectively.
As per TS Ping’s electronic mail;
We have now lodged a Singapore Police Report and they’re at present investigating the matter.
We advise all involved events to method the authorities for additional clarification at: https://eservices.police.gov.sg/content material/policehubhome/homepage/police-report.html.
In the meantime, the general public is suggested to contact us instantly for verification if they’re knowledgeable by any events implying our involvement with the Torque Group.
I wholly agree. In case you are a Torque Buying and selling sufferer attain out to Singaporean authorities and allow them to know who scammed you.
In the meantime it’s unclear whether or not Snap Improvements’ purported police report pertains to Torque Buying and selling collapsing, or them being upset at being outed. If I needed to wager it’s in all probability the latter – assuming there’s even a police report to start with.
What with the quantity of scamming we’ve seen from World Blockchain Discussion board through the years (we’ve tracked 4 WBF MLM Ponzis to this point), and Cloud Token lately asserting a deliberate Ponzi reboot, it’s excessive time authorities in Singapore and elsewhere smashed this crime ring.
I’ve put this text as a reply to SP Ting’s electronic mail together with the next further questions:
- What’s the connection between World Blockchain Discussion board’s Ponzi schemes and Snap Improvements?
- Why did Snap Improvements not have an issue with half its govt workforce operating a Ponzi scheme, till Torque Buying and selling collapsed?
- With such a deep connection between Torque Buying and selling and Snap Innovation, do you critically anticipate anybody to imagine there wasn’t commingling of stolen investor funds?
- Does anybody concerned in Snap Improvements not have a historical past of involvement in crypto Ponzi schemes?
Not holding my breath however I’ll let if there’s any response.
Replace seventeenth February 2021 – As predicted, Torque Buying and selling CMO’s Jackson Png has now been scrubbed from Snap Improvements web site.
As on the time of publication I’ve obtained no reply to the above questions from SP Ting.
Replace sixteenth February 2022 – The Snap Improvements scammers behind Torque Buying and selling have returned with RoboFi, a non-MLM crypto Ponzi.