After United Capital Investments (later UCI World) collapsed in 2020, proprietor Antoun Toubia returned with The Swedish Belief in 2021.
As reported by BehindMLM reader Hester in March 2021;
This firm nonetheless making guarantees with no return.
UCI identify now modified to Swedish Belief.
There are 4 swimming pools of cash occurring for two years, nothing has been payed out and nonetheless individuals are paying UCI cash.. WTF?
I had a short look into The Swedish Belief, famous there wasn’t something MLM associated and moved on.
It’s since emerged that The Swedish Belief is actually a continuation of the funding fraud began with UCI World.
As of late 2021 Toubia (proper) is believed to be sitting on tens of millions of euros invested between UCI World and The Swedish Belief.
Following a collapse on or round mid 2021, Toubia resurfed in late 2021 to easy issues over with buyers.
The next it taken from a The Swedish Belief Zoom name held final October.
Toubia opened up the decision by claiming he was sick and that surgical procedure was the explanation he disappeared.
I’m not the man you already know earlier than the operation, earlier than we cease the Zoom name(s) anymore.
I’ve gone by way of surgical procedure and that modified my life a lot.
Toubia goes on accountable the collapse of The Swedish Belief on COVID-19 and “household points”. He claims issues acquired so dangerous one among his staff members contemplated committing suicide.
I’m not likely 100% on what occurred. Supposedly Toubia dumped a bunch of investor funds to some man going by Christian Fortune (aka Chris Fortune).
I’m undecided this particular person really exists.
Anyway, Fortune was tasked with producing returns by way of buying and selling. Citing an alleged e mail between himself and Christian, Toubia represents Fortune’s buying and selling exercise generated some €625 million euros to be “paid out”.
This was Might 2021 and to this point the payout hasn’t occurred.
As you already know, now we have been battling receiving the cash from the individual that we invested into. Which is, his identify is Christian Fortune.
He was my accomplice for over ten years. We’ve finished many initiatives collectively.
Anyway for unknown cause(s), at the least till this second, we don’t know why Christian Fortune (is) nonetheless holding as much as the cash.
Evidently effective with writing off the loss, Toubia claims he’s moved on.
I’m right here as we speak to open a brand new web page with everybody and to place the stones which can construct a brand new fundament and can construct a greater enterprise for us. For everybody, for you particularly.
And to right all of the errors that now we have finished previously.
I take full duty in fact, of every part that occurred and all of the delays. As a result of it was my choice to belief particular folks.
We aren’t right here to debate this. I’m right here to guarantee you that your funding, your revenue from the swimming pools … they’re protected. They’re assured to occur. I’m going to make that occur.
It doesn’t matter if I acquired scammed. If I acquired cheated. If I acquired lied to, it doesn’t matter. I’m placing that every one behind.
And as we speak, I’m going to point out you our new technique. Our plan.
Toubia goes on to “take full duty” by blaming the Swedish authorities for The Swedish Belief’s collapse;
There was some rumors that uh, that I’m not saying the reality and I created some bull- y’know some story that “Yeah I can’t register you”.
I’ve no intention to not register you as restricted companions in Sweden. I’ve excellent intention to make you full companions with the Swedish Belief and I nonetheless have this intention.
However sadly the Swedish authorities just isn’t prepared … to register greater than forty restricted companions in a belief firm in Sweden.
So I discovered an answer…
That resolution?
Making a UK shell firm known as British Enterprise Bureau. Enterprise Bureau Britain LTD was included on February seventeenth, 2022.
Toubia is listed as the only real Director of the corporate, by way of a digital workplace deal with in London. Toubia’s acknowledged nation of residence is Georgia.
UK shell firm incorporation is instantly related to fraud and is successfully unregulated.
To that finish Toubia included Enterprise Bureau Britain LTD with a $2 billion USD assertion of capital.
Clearly that’s based mostly on baloney however, like I mentioned, the essential UK is unregulated. You may enter any Mickey Mouse information and the UK authorities will fortunately rubber-stamp it.
Based mostly on this completely fictional assertion of capital, Toubia intends to set his fraudulent funding scheme up is by issuing Enterprise Bureau Britain shares:
So it’s lower than one cent per share within the firm. So think about what number of shares you can be having in your funding, revenue and no matter.
After all I’m not asking you to place any cash in. We’re simply changing your X amount of cash that we already owe you into the shares.
That is clearly a securities providing:
The potential of those shares to develop… it is vitally massive potential and we anticipate a minimal development of 100% yearly. That is the worst case situation.
Naturally neither Enterprise Bureau Britain or Toubia are registered with the FCA.
So the place’s all the cash going to come back from?
The identical non-existent ventures Toubia trotted out when he launched The Swedish Belief.
Apparently sufficient there’s now a US element woven into the fraudulent funding scheme:
We created a US firm. That is… I can’t present you particulars of the US firm but, as a result of that is the early stage.
The US firm is already registered. For the time being we’re simply ready for the EIN quantity. It would take twenty to thirty days to have that quantity prepared.
After that now we have been promised by our legislation firm in the US, assured, that we are going to get a checking account for that firm.
Now, why we created a US firm?
This firm, by the utmost center of January shall be prepared with a full checking account. After that we’re going to the SEC, Safety Change Fee. We’re going to file an utility with them to permit us to lift cash from the US market.
I don’t have an organization identify however Toubia does point out it’s a Wyoming incorporation.
I ran a search by way of the SEC’s Edgar database for Antoun Toubia. Nothing got here up.
In any occasion much more must be finished earlier than Toubia may legally solicit funding for The Swedish Belief within the US. For starters that entity, the UK shell firm and Toubia himself would want to register with the SEC.
Organising a shell firm by itself isn’t adequate.
Subsequent Toubia would want to file audited monetary experiences, particularly detailing his funding alternative and enterprise operations (plans to generate exterior income).
Cash goes to movement into the corporate. There’s no query about that.
After all a number of folks will take the provide and say, “OK Anton, you owe me… I invested $500, you owe me what, $50,000? Give it to me”.
Right here’s your share, thanks bye bye.
Seeing as Toubia hasn’t bothered register his funding scheme within the UK with the FCA, it’s unlikely this shall be adopted by way of within the US.
Failure to do that constitutes securities fraud.
Toubia claims he was providing buyers refunds however that’s off the desk as of October 2021.
So now now we have an organization with trapped buyers who, to this point, are ready on promised returns to materialize.
Precisely how a lot Toubia pocketed between United Capital Investments, UCI World and The Swedish Belief is unclear.
What must be clear is, as we enter the sixth yr for the reason that unique United Capital Investments web site area was registered, is that the one one that’s made any cash right here in Antoun Toubia.
BehindMLM’s curiosity in Toubia’s present funding fraud extends so far as there are UCI World victims in The Swedish Belief. We’ll maintain a watch out for any updates.