Ardu Prime, the brokerage that Freeway represented was an integral a part of its enterprise mannequin, is now pretending it had nothing to do with the corporate.
Shortly after Freeway introduced its exit-scam collapse yesterday, Ardu Prime started deleting references to “Aubit Prime” on its web site.
Seeing as Freeway isn’t responding to buyers, Twitter consumer “Steve H” reached out to ArduPrime for touch upon Freeway’s fictional buying and selling actions.
What’s the present relationship with Freeway guys, are you additionally issuing a press release? How a lot of these buying and selling accounts stay(?)
To which Ardu Prime replied;
We don’t problem statements on shoppers accounts or remark shoppers actions.
When requested about Freeway and Ardu Prime being one and the identical firm, Ardu Prime acknowledged;
This isn’t the case and this has by no means been acknowledged by Ardu.
Ardu Prime was a failed dormant brokerage till it was resurrected by Aubit/Freeway by “Aubit Prime”.
AuBit Prime is a registered buying and selling identify owned and operated by Ardu Prime.
Ardu Prime SA is an EU Regulated entity and MiFID II compliant. (Hellenic Capital Market Fee License: 4/164/20.7.1999, FCA reference: 725166, BaFin ID: 10146106)
The efficient acquisition of Ardu Prime gave Freeway entry to monetary regulatory licenses. After all none of those pertained to Freeway, which remained unregistered to supply securities in jurisdictions it was soliciting funding in.
That didn’t cease Freeway trumpeting Ardu Prime’s licenses in “legitimacy through affiliation” advertising and marketing:
The precise nature of Freeway’s acquisition of Ardu Prime wasn’t disclosed, however Freeway very a lot represented it owned the corporate.
In a February 2022 Q&A, Freeway co-founder Graham Doggart answered a query pertaining to Freeway’s plans for Ardu Prime;
Q41. “May you make clear, within the easiest phrases potential, how AuBit, Freeway Lite, and Ardu Prime are associated?”
AuBit was the unique model and is in the primary firm identify, AuBit Worldwide, and carries on for now with AuBit Prime.
Freeway was initially the identify of the platform, we thought-about it the AuBit Freeway platform, however our advertising and marketing analysis confirmed that it was significantly better to drop it and make the general model and mission “Freeway”.
Ardu Prime is the brokerage offering the deposit rewards and crypto custody, it has a buying and selling identify of AuBit Prime, and over time will finally absolutely rebrand to Freeway Prime as will all the opposite entities transfer to a Freeway associated naming conference, we anticipate to rename AuBit Worldwide to Freeway Inc.
This was evidently nice with Ardu Prime, up till Freeway’s collapse yesterday. It’s anticipated Ardu Prime will now return to dormant standing.
Proof linking the 2 firms has doubtless already been deleted.
Talking of deleted, Freeway co-founder Graham Doggart nuked his public Twitter profile:
BehindMLM can even affirm certainly one of Freeway’s high net-winner is crypto Ponzi shill “Coach Okay”:
As above, Coach Okay, aka Joel Kovshoff, claims to have stolen nearly 1,000,000 {dollars} by Freeway as of early October.
On LinkedIn Kovshoff cites himself as a resident of Bangkok, Thailand. “Coach Okay Capital” was arrange within the BVI in August 2022, by which Kovshoff is prone to have laundered his Freeway unwell gotten good points.
Whole Freeway investor losses are pegged at over 100 million. A major quantity of that’s believed to have been stolen from US residents.
Neither Ardu Prime, Freeway, Graham Doggart, Coach Okay or anybody else concerned in operating and selling Freeway is registered with the SEC.
If buyers need any likelihood of restoration and/or to carry Freeway scammers accountable, their finest wager is submitting a criticism with the SEC.