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Wednesday, February 1, 2023

AFIP denounced a renowned cryptocurrency firm for pyramid scam

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as he learned Ambit, it’s about the company I go business, which was under the watchful eye of the organism that conducts Carlos Castagneto because it deployed a strategy similar to that of pyramid schemes by promoting actions to raise funds from third parties with the promise of extraordinary profitability, something that ultimately did not happen.

According to a statement from the agency, tax investigators analyzed the electronic invoices received and observed that the receipts linked to the activity had been issued by a single firm that presented serious indications of apocrylicity.

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Likewise, the body verified that the signature, supposedly dedicated to attracting investments, it had not acquired registrable assets or any type of good or service related to the declared item.

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According to the investigation, the funds credited to the accounts in question came from transfers made by individuals and/or account deposits. As verified, said funds were subsequently withdrawn by check.

The company’s scheme was similar to that of various scams that have occurred in recent years in the field of cryptocurrencies: it promised extraordinary profitability. However, it was not possible to identify investments or assets that would allow such returns.


In this way, the agency reported that it would be a pyramid scheme, with characteristics similar to that carried out by zoe generation, another case that became public during 2022 and whose participants are currently being prosecuted with preventive detention.

One of the mechanisms used to raise money by the company was related to dissemination by social media of campaigns carried out by show business personalities. As reported by the agency in a statement, the influencers and references from the world of entertainment were consulted about their role and indicated that they limited themselves to providing advertising services through social networks and graphic media.

Finally, both the firm and its main supplier were included in the eApoc database and a criminal complaint was filed for illicit association, aggravated money laundering and fraud that fell before the Economic Criminal Court No. 11.

It should be remembered that in April 2022, the National Directorate for Consumer Defense and Consumer Arbitration accused the company for alleged violations of the Consumer Defense Law for breaching the obligation to provide true and clear information about the service it provides.

Also, back then asked public figures and influencers for information about the promotions carried out on their social media accounts of the alleged “Vayo Coin” cryptocurrency system.

According to the information on its website, Vayo Business defines itself as a group of entrepreneurs dedicated to investments that “make it possible to generate a constant flow of circulating money, essential in any business, to ensure constant growth.” Currently, the company page is not active.

Source: Ambito

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