Inside days of founder Andrey Khovratov’s arrest in Russia final month, EvoRich introduced a partnership with Bobcoin.
Now EvoRich affiliate buyers are being ushered into Bobcoin, which for all intents and functions has morphed right into a exit-scam offramp.
Bobcoin is constructed round Bob Eco Ltd
with the aim of inventing an electrical bike that was highly effective, stunning, and with zero emissions.
What does that should do with cryptocurrency?
Nothing. It was simply an an excuse to launch a shitcoin final 12 months and revenue. And so we have now bobcoin (BOBC).
After insiders have been preloaded in over the previous 12 months, BOBC started publicly buying and selling in March 2022.
BOBC adopted the standard shitcoin public pump and dump trajectory…
…till Khovratov’s arrest and the transition over from EvoRich. Now BOBC is being propped up by determined EvoRich buyers.
You possibly can see early BOBC buyers cashing out a number of occasions within the chart above after April third.
Bobcoin and Bob Eco Ltd are run by Bob Ultree.
Ultree is predicated out of Dubai, the MLM rip-off capital of the world. Bobcoin Eco Ltd is represented to be a Hong Kong shell firm.
Seeing as Khovratov was apprehended at an airport, he probably knew of his pending arrest. Or on the very least knew he and EvoRich have been beneath investigation.
To that finish plans to combine Bobcoin into the EvoRich Ponzi scheme started mid March, or a minimum of that’s the official timeline being pushed out.
As per a March twenty sixth Bobcoin “announcement”;
Pricey Evorich Member,
We, on the request of Mr Andrej Khovratov, have the honour to carry you the excellent news he introduced final Saturday, 19 March 2022, through the closed assembly;
In March 2021, Mr Khovratov privately invested in Bob Eco by buying BOBC Tokens. He purchased a million tokens for $0.30 per Token.
This implies Bobcoin insider token preloading started properly earlier than the early 2022 public launch. It’s price noting Bobcoin’s public web site area (“bobcoin.eco”), was solely registered on January twenty sixth, 2022.
Charity Socks BV is listed because the proprietor, by means of an incomplete tackle within the Netherlands.
Charity Socks BV seems to be some failed charity initiative, presumably run by Bob Ultee.
Charity Socks’ web site has been deserted. The final publish on the corporate’s official FaceBook web page is dated February 2021, across the time bobcoin was purportedly created.
Right this moment Charity Socks BV seems to be nothing greater than a Dutch shell firm.
To what extent funds invested in bobcoin is likely to be laundered by means of Charity Socks BV is unclear.
As anticipated, the event of the Bob venture went very properly and even past everybody’s expectations. The worth of Bobcoin Token rose to nearly $ 11.00 inside a quick time frame.
Will need to have been terribly temporary, CoinMarketCap’s ATH for BOBC is $3.89.
Mr Khovratov requested the administration of Bob Eco and the STO-CAP if he would have the ability to divide his funding (Bobcoins) over his members by placing his private funding into the WCRU World Funding Portfolio.
For the reason that cash are his, he’s free to do that. We might be completely satisfied to welcome all Evorich members as clients/members/buyers on the STO-CAP!
All Evorich members will obtain an e-mail from the STO-CAP with their login and password within the coming weeks. After login in, you’ll get your Bobcoins in your pockets.
WCRU, EvoRich’s nugatory Ponzi factors, are being transformed to BOBC at a 2550:1 alternate price.
Through the first months and the discharge 12 months, all Bobcoins on the STO-CAP are subjected to a defrosting schedule to stop dumping on exchanges.
STO-CAP is what Bobcoin calls its inhouse crypto wallets. It basically capabilities as the corporate’s backoffice.
Sadly for EvoRich buyers shifting over to Bobcoin, they’ll have to sit down idle and watch insiders money out.
If recruitment of latest gullible buyers doesn’t sustain, they’ll then be left bagholding one other nugatory token.
Zooming out, Bobcoin is successfully EvoRich and Khovratov’s exit-scam.
Khovratov has been ordered detained till Could tenth. It’s unclear what occurs after that.
Both Russian authorities will make an instance of him, or palms can be greased and he’ll flip up in Dubai or another crime haven sooner or later.
Russian sanctions at the moment in place may delay any plans significantly.
In the meantime over within the Netherlands, native media are asking uncomfortable questions.
In response to Bob Eco’s web site, 3271 mopeds and bikes have really been delivered, a quantity that has not been modified because the finish of November.
One other 81,000 models are stated to be within the pipeline. In response to Ultee, this requires cautious planning, as a result of the mopeds and bikes are pushed inside three months of manufacturing on the newest, in any other case the battery can be damaged.
He would additionally should cope with customs clearance issues, as a result of there isn’t a good code out there at customs in Africa.
That might clarify why the variety of mopeds on the highway has not elevated since November.
Quote goes onto level out bobcoin’s unreported marketcap, which Ultee defined away “because of ‘the algorithms’”. This in fact is unnecessary.
Quote’s earlier protection of bobcoin noticed Ultee take them to court docket.
On 2 factors he discovered the choose on his facet. The choose dominated that we had wrongly steered within the article in query that Ultee had had no or hardly any mopeds produced.
We additionally concluded too shortly that United Nations subsidiary Unitar has by no means heard of Ultee or his group.
Though we have now lodged an attraction towards this judgment, you’ll find a correction in our April problem.
We have been, nevertheless, in the precise on different factors. For instance, the court docket doesn’t think about it illegal that we made the comparability with OneCoin, the place buyers noticed their cash evaporate and have been left disenchanted.
OneCoin in fact wants no introduction. And positively bobcoin tying itself to a Russian Ponzi scheme strengthens ties to suspected fraud.
Keep in mind, Bobcoin claims Khovratov was an early investor who obtained in March 2021 – a 12 months earlier than something was made public.
What the bobcoin transition means for EvoRich as an organization going ahead is unclear. WCRU is lifeless…
…with Bob Ultee and Bobcoin being positioned as new custodians of the EvoRich investor base.
For Bobcoin, the journey has simply begun. We launched the coin 2-3 weeks in the past on a number of exchanges, and within the following weeks, extra exchanges can be added.
Bobcoin is at the moment publicly buying and selling between $1.50 and $2.00. Earlier than summer time, the value is predicted to maneuver to $10-20 and the top of the 12 months to $50.00.
So far as I can inform there’s no MLM construction connected to Bobcoin, a minimum of circuitously.
This implies our protection will probably finish right here – pending additional particulars of Khovratov’s prison case in Russia.
If Khovratov makes it out of Russia there are two speedy prospects:
- Khovratov can be reintegrated into Bobcoin and resume working the present; or
- Khovratov will disappear to get pleasure from what he’s stolen by means of Skyway and EvoRich over time.
Language boundaries are important right here however I’ll attempt to observe what occurs.
Replace sixth Could 2022 – The lacking piece to this text was Bob Ultree’s connection to EvoRich.
The press-release very a lot suggests Andrey Khovratov obtained concerned in Bobcoin. The truth is it was the opposite method round.
A reader despatched in a Bobcoin video by which Ultee admits he’s an EvoRich affiliate investor:
[22:06] So I met Andrey for the primary time in Moscow, uh in Dubai. My different home.
So at that second I used to be assembly Andrey, additionally with EvoRich I’ve a accountability and there’s additionally a charity piece in EvoRich, as a result of I used to be already myself collaborating in EvoRich. And with that funding, he (Khovratov) was listening to me.
Ultee goes on to reveal he shared his Bobcoin concept with Khovratov however was knocked again.
Ultee claims Khovratov advised him
It is likely to be too quick, it is likely to be too younger. As a result of what you’re doing won’t be the highway that we’re taking.
What we are able to affirm from that is with Bobcoin, we have now a confirmed Ponzi investor spinning off their very own shitcoin scheme.
Apparently, Ultee additionally claims he loaded legal professionals with bobcoin early on to safe authorized opinions relating to the corporate.
[24:10] So we took a really very long time to discover a good jurisdiction.
For crypto we discovered a superb jurisdiction in Hong Kong. Uh, the place crypto could be very welcome and prospects are there.
The place is it not potential? The place it’s the most tough is the SEC within the US, which is likely one of the most onerous authorities. So we don’t begin there.
I agree with Ultee. Committing securities fraud from Dubai by means of a Hong Kong shell firm is certainly simpler to commit securities fraud than from throughout the US.
The difficulty in fact shouldn’t be from the place EvoRich, Bobcoin and Ultee commit securities from, it’s that they’re comitting it in any respect.