Coenie Botha is funneling CBI World buyers into the GSPartners Ponzi scheme.
The transfer follows the Financial institution of Namibia freezing Botha’s enterprise and private accounts final month.
Botha, assisted by South African GSPartners investor Ray De Bruyn, instructed CBI World associates on signing as much as GSPartners in a March tenth webinar.
GSPartners is an MLM crypto Ponzi scheme run by former Karatbars Worldwide government Josip Heit.
Heit spun off GSPartners following Karatbars’ failed foray into MLM crypto fraud again in 2019.
CBI World buyers enroll beneath Botha’s GSPartners account, guaranteeing he collects any commissions earned on their exercise.
Though not confirmed, I consider Ray De Bruyn is Botha’s GSPartners upline. That means he will get a minimize too.
Along with GSPartners itself, the Ponzi scheme’s GS Life-style card is being pitched as a cryptocurrency withdrawal technique for CBI World buyers.
Successfully the mixing will see CBI World investor funds laundered via GSPartners.
After they’d signed up, CBI World buyers came upon what that basically meant.
If you happen to (with)draw bitcoin to your GS Life-style card, and also you wish to convert it, it’s not low cost.
I made a factor yesterday the place I transferred some bitcoin into the GS Life-style card after which I needed to transform it into {dollars}, with a purpose to make use of the cardboard.
Now once you put the determine in, it exhibits you ways a lot you’re going to get. And between the purchase and the promote worth, to the market worth, you’ll fall in your again.
It’s one thing like 15% that they make revenue on it. So it’s costly.
That was Botha on a March twenty eighth CBI World webinar.
On that very same webinar Botha gave an replace to CBI World’s regulatory issues in Namibia.
What occurred is that they froze our accounts, each my private account and the enterprise account, and so they did it in, we consider, an unlawful approach.
Now the Decide got here there … with a proposal, and the proposal that he got here with, he made in a ruling, and that’s that, they need to unfreeze our account, topic to BoN overlooking what we do, to ensure that us to pay our bills.
So it’s nonetheless frozen. And we now (have) sued BoN in the course of the week final week. And we should always know by Friday what’s going on.
There have been no additional updates because the March twenty eighth webinar.
On an earlier March twenty first webinar, Botha launched Afrika Jantjies.
Jantjies (proper) represents he’s a South African based mostly lawyer and CBI World’s Compliance Officer.
We’re the attorneys for CBI. Plus I act because the compliance officer for CBI Trade Namibia.
If there may be something that’s performed illegal or isn’t in keeping with the legislation, then it’s my responsibility to advise my shopper to desist and cease and comply.
Evidently as an alternative of informing Botha he’s working a Ponzi scheme and committing securities fraud, Jantjies is paid to rubber-stamp Botha’s fraudulent conduct.
To that finish Jantjies trots out an FIC registration for CBI Trade Namibia (PTY) LTD.
The difficulty is and all the time has been CBI World isn’t registered with monetary regulators, be it Financial institution of Namibia in Namibia or the FSCA in South Africa.
Registering with the Monetary Intelligence Centre doesn’t negate or relieve CBI World of its securities associated regulatory obligations.
Jantjies’ CBI World pseudo-compliance are greatest exhibited via the next assertion, made on the March twenty first webinar;
CBI doesn’t take deposits from (the) public. I believe that’s crucial.
Botha instantly contradicts Jantjies assertion afterward in the identical webinar;
So for those who switch rand or namibian {dollars} into the (DafriBank) account, they do cost a charge but it surely’s not a lot.
After which you may from there switch instantly funds to us, to our account.
DafriBank was launched to CBI World associates as a technique to circumvent regulatory motion in Namibia.
Right here’s how that’s going;
There have been folks complaining that they withdrew BTC into their DafriBank account. And so they cost as much as 27% fee on that transaction.
Trying ahead, it seems Botha is likely to be seeking to transfer CBI World’s operations to Dubai.
Botha: Afrika was sharing with us that he’s been to Dubai. Everyone knows he was in Dubai the week earlier than final.
And he went for particular issues to go and do there which we’ll share at one other case.
Jantjies: There are issues that we’re doing there that clearly we might disclose at a later stage.
Dubai is the MLM rip-off capital of the world. Via non-regulation of MLM associated securities fraud and a scarcity of extradition treaties, the emirate gives a safe-haven for scammers.
CBI World and Botha shifting operations to Dubai gained’t bode nicely for buyers.
Pending additional updates, Botha has instructed buyers to “simply ignore” CBI World’s documented fraud and regulatory non-compliance.
Replace 18th Might 2022 – Coenie Botha has deleted the cited GSPartners and Afrika Jantjies introduction webinars.
Hyperlinks to the webinars have been beforehand offered however as such I’ve disabled them.