A mayor in Germany is selling the HyperFund Ponzi scheme to his constituents.
Saarland Radio, a public broadcaster, carried out a secret investigation right into a mayor from Kaiserslautern.
Kaiserslautern is a rural district in Germany’s west.
Replace twenty fifth November 2021 – Saarland Radio don’t determine the mayor by identify.
As per analysis from BehindMLM reader Melanie within the feedback under, the mayor in query is Uli Zimmer.
On LinkedIn Zimmer refers to himself as a “bitcoin fan”.
Circa 2016 there was an Uli Zimmer in Germany selling ACN.
I’m not 100% positive this is similar Zimmer. Whether it is, it gives potential perception into what Zimmer was as much as previous to MLM crypto Ponzi schemes. /finish replace
Saarland Radio uncovered the mayor “promising non-public people a return of as much as 200 p.c”.
As reviewed right here on BehindMLM in April 2021, HyperFund is a Ponzi scheme touting a return of as much as 300%.
Having carried out their very own analysis into HyperFund, involving shopper advocates and legal professionals, Saarland Radio warns;
Hyperfund may very well be an unlawful pyramid scheme wherein traders find yourself dropping their cash.
Final month Germany’s prime monetary regulator, BaFin, introduced it was investigating HyperFund for securities fraud.
As of but nothing has come of that investigation.
In the meantime an area mayor pushing HyperFund would look like a gross abuse of public workplace.
Buyers recruited by the mayor instructed Saarland Radio that “paid in cash primarily due to the trustworthiness of the native politician.”
Whereas the identification of the mayor isn’t launched by Saarland Radio, native media report he’s “the highest German recruiter” for HyperFund.
When approached for remark, the mayor’s lawyer instructed Saarland Radio “he was not selling HyperFund as mayor”.
Which is in fact baloney. If you happen to’re the presently elected mayor, what you stand up to displays in your workplace.
However the mayor’s place may be very a lot a part of is HyperFund Ponzi pitch;
The mayor advertises his webinars in a video on a Fb web page. He doesn’t deal with his workplace.
Within the title, nonetheless, is his identify, his group and his workplace. The textual content says: “Do you belief a mayor?”
Within the webinars, a girl says that she didn’t initially spend money on Hyperfund.
After a telephone name with the native mayor, the system appeared logical and believable to her.
Actually she says: “You had been a confidante, you’re the mayor. Sure, after which I stated, okay, every thing I’ve: in!”
HyperFund sadly isn’t the primary MLM Ponzi scheme a politician has been caught selling.
In an investigation of our personal, BehindMLM blew the lid on John Wuo selling the USFIA Ponzi scheme.
On the time Wuo, a former mayor himself, was a sitting Arcadia Councilman.
After initially denying involvement, Wuo later resigned in shame.
A court-appointed Receiver would later reveal Wuo acquired $1.8 million from USFIA.
After opening an investigation, California’s Honest Political Practices Fee discovered Wuo breached the Political Reform Act. He was subsequently fined $2000.
Within the UK there are two documented situations of native politicians pushing the Ponzi scheme onto constituents. One in 2015 (Hailsham) and once more in 2018 (Woking).
The 2015 try was shut down by the council earlier than it might take off.
The Woking try quietly fizzled out after recruitment inevitably collapsed. To one of the best of my data no one was ever held accountable.
I’m undecided what German legal guidelines are in terms of politicians partaking in criminal activity. Appears like a slam-dunk case for a political fee is such a physique exists.