DD Company, a Ponzi scheme that primarily focused Brazil, has collapsed.
DD Company, reviewed on BehindMLM as Goals Digger, solicited funding on the promise of buying and selling bot returns.
Returns haven’t been paid out since final December although, prompting proprietor Leonardo Araujo to substantiate the scheme’s collapse earlier this week.
Brazilian authorities started investigating DD Company in January. Precise figures are unknown however authorities have estimated losses at R$5 million ($1.09 million USD).
Fairly than admit DD Company was a Ponzi scheme that ran out of cash, Leonardo Araujo (proper) blames his programmers.
Based on the businessman, the corporate would now not have capital due to alleged issues within the enterprise platform, which was developed by Graff Tecnologia, an organization primarily based in Curitiba (PR).
“I used to be improper, however in believing and outsourcing our multilevel system. I used to be improper in betting the lives of a number of households within the Graff firm, however they have been rather more improper in failing us,” stated the businessman.
Based on him, the alleged failure allowed withdrawals, earnings and deposits to be doubled and even tripled.
In a press release offered to UOL, Graft accused Araujo of redirecting guilt.
Graff additionally stated that it has proof that exhibits the true motive for DD Company’s departure from the market, however can not ship it to 3rd events “and not using a judicial authorization for the breach of this contractual confidentiality”.
I’ll take “proof exhibits withdrawals exceeded new funding” for $1.05 million {dollars}, Alex.
At this stage the Public Ministry of Bahia’s investigation is ongoing. Whether or not Araujo will likely be held accountable for operating a Ponzi scheme stays to be seen.