Following non-payment of withdrawals and an efficient collapse, PGI World has made an announcement suggesting they’ll be exit-scamming by way of Kala.
That’s the identical Kala shitcoin Nui launched three years in the past.
From what I can inform PGI World knowledgeable associates they’d be getting Kala wallets a few month in the past.
This roughly coincides with when withdrawals slowed and/or stopped altogether.
Adopting KALA is sensible for one and one motive solely; PGI World in some unspecified time in the future intends to pay out withdrawals in Kala.
What would that imply for PGI World buyers?
KALA surfaced in late 2017 as a part of the Nui Ponzi scheme. In hindsight, Kala was Nui’s exit-scam.
Nui/Symatri pays associates in Kala, and that may then be used on an inner e-commerce platform.
Kala was flogged to Nui associates for 1 to five cents a chunk. Regardless of being created in-house, Nui associates had been additionally in a position to “mine” Kala by way of Mintage Mining.
Nui went as far as to say Kala, which neither it or Nui was registered as a securities providing, was “protected against the SEC“.
That lie was uncovered in July 2018, when the Texas Securities Board issued Nui and Mintage Mining a securities fraud stop and desist.
In September 2019 Montana’s CSI additionally filed a securities fraud stop and desist. Michigan adopted swimsuit in April.
The state of Utah piled on across the similar time, issuing Nui proprietor Darren Olayan with a $595,000 securities fraud nice in March 2020.
By this stage the writing was on the wall. Olayan fled the US and continued to defraud buyers by way of Nui Worldwide.
Nui Worldwide seems to have since collapsed. Makes an attempt to go to the corporate’s web site returned a “404 not discovered” HTTP error.
So the place does this go away PGI World buyers?
You’re being funneled right into a collapsed Ponzi scheme.
Nui executives and associates are sitting on a boatload of nugatory Kala they will’t do something with.
By integrating Kala into PGI World, they acquire entry to a brand new market of bagholders to promote their Kala too.
PGI World is already busy hyping Kala by way of their social media channels.
Sooner or later PGI World associates will have the ability to buy Kala, on the illustration of future worth.
That’s after all nonsense (see the final 2 years of Kala), however the hype will enable Nui executives, associates and PGI World itself to dump Kala.
When the mud settles cash could have transferred from PGI World associates to Nui and PGI World executives; specifically Darren Olayan and Ramil Ventura Palafox.
Nui bagholders shall be holding rather less nugatory Kala. PGI World associates will turn out to be the brand new major bagholders.
Then, if it hasn’t been executed already, comes the exit-scam.
Right here’s a transcript of how that’ll go down:
PGI World Associates: WHERE’S OUR MONEY?
PGI World: Oh hello there, have you ever checked out our new Kala pockets?
PGI World Associates: WHERE’S OUR MONEY?
PGI World: Loosen up friends, now you can join Kala wallets.
PGI World Associates: WHERE’S OUR MONEY?
PGI World: Excellent news everybody! We’ll solely be paying out in KALA going ahead. Current funding balances will even be transformed into Kala.
PGI World Associates: WHERE’S OUR MONEY?
PGI World: What do you imply? We gave you extremely invaluable Kala tokens!
What’s that? You may’t discover anybody to promote them too?
NOT OUR PROBLEM BITCHES! *cue disappearing act*
How lengthy this may take to play out is anybody’s guess. Nui aren’t recognized for his or her competence and RV Palafox is a serial scammer operating his first-time Ponzi from the helm.
Palafox is believed to be primarily based out of the Philippines. Kala is run by Appliqate, an organization primarily based out of the US (no less than on paper, seeing as Darren Olayan stays in hiding).
Neither PGI World, Kala or Nui are registered to supply securities within the Philippines or the US.
Appliqate is registered with the SEC however doesn’t report its fraudulent funding dealings.
Primarily based on Alexa’s evaluation of its web site site visitors, the vast majority of PGI World buyers are within the US (44% of site visitors), adopted by Peru (14%) and Nigeria (8%).
Replace thirtieth June 2021 – After pulling its web site 48 hours in the past, PGI World’s exit-scam is now full.
Replace fifth September 2021 – PGI World has rebooted with high earner Helen Graham operating the corporate as CEO.