EcoX fraud racket lands in Africa


Internationally known fraud-master and scammer Jorge Sebastiao has launched another fraudulent venture named ‘EcoX Africa’ with the nefarious goal of cheating millions of African people with his fraudulent crypto venture. Earlier, Jorge Sebastiao with the help of another fraud named Kamil Grund has launched a fraudulent venture named ‘EcoShumi Foundation(Web Archive Link) with the agenda of cheating people in the United Arab Emirates, Bahrain, Qatar, Saudi Arabia and other Middle Eastern nations. Following publication of an investigative report in Blitz, many people has already left ‘EcoShumi Foundation (LinkedIn), fraud racket after knowing the criminal past of Jorge Sebastiao, Kamil Grund and few other members of this group.

Jorge Sebastiao (Jorge Sebastião) aka Nuno Jorge Da Cruz Sebastiao, who has past track record of series of frauds and scams, including swindling 136 million Euros from people in Spain through a cryptocurrency scam named Nimbus Defi.

Names of individuals involved in the fraudulent EcoX Africa are:

Faris Ahmed, CEO/Founder, Luxury Tech

Dr Desziree Richardson

Jorge Sebastiao, Co-founder, EcoX

Dave Crane

Mamadou Kwidjim Toure, Founder Ubuntu

Queen Diambi Kabatusila Tshiyoyo Muata

Samuel Andesegun Egunjobi, Founder, Rebuild Afrika Foundation

Laila Rahhal El Atfani

Antonis Antoniadis, Chairman, Ecogold (West Africa)

Monica Modi, ORG Newtribe

Jude Anumudu, EcoX Africa Coordinator

Tuesday Le Roux MC

Hercules Fisherman

Graziella Thanks

Anthony Philip Njoku, 10X Digital Lane

Eric Balance

Tame Vikc Okoi, CEO, Agro-Meta Coin and Agro Meta Technologies

Adesanya Ahmed, Petrovice Resources International Ltd

Chakib Achour, CSO, Huawei Morocco

Mikita Maniar Gagalani, Newtribe Capital.

It may be mentioned here that, sensing immense opportunities of cheating millions of people in the Middle East, nefarious scam Dracula such as Nuno Jorge Da Cruz Sebastiao alias Jorge Sebastiao recently launched ‘EcoShumi Foundation’ in Dubai. Jorge Sebastiao has already established an office of a fraudulent company named EcoX in Dubai under the garb of event management company, although members of EcoX including Jorge Sebastiao are active member of a scam cartel named Bank Bene Merenti and YEM Foundation which sells bogus YEM coin. A Jordanian national named Saif Al Naji (known as DJ Saif) is a partner in EcoX. Another individual named Dan Settgast is also one of the kingpins of this racket.

It may be mentioned here that, His Royal Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of the Executive Council is enthusiastic about the outcome of Dubai Metaverse Assembly, a new global event, which is scheduled to take place during the end of September 2022. According to media reports, this global event aims to discuss how to make the most of metaverse’s promising opportunities to serve the mankind.

HRH Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum said that the forum represents a global incubator for future metaverse makers.

“Metaverse is a promising digital world. We aim to harness this technology to enhance the quality of life in the UAE and across the globe”, HRH Sheikh Hamdan bin Mohammed said. He highlighted that Dubai Metaverse Assembly embodies the vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, for the emirate to become a global hub for innovation and futuristic transformations and a key driver for digital and knowledge-based economies around the world.

The Dubai Metaverse Strategy is the first initiative of the higher committee formed under the directives of the Crown Prince during the fifth meeting of the Dubai Council in May 2022.

The committee, chaired by HRH Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, aims to oversee all future technological developments in Dubai’s digital economy and ensure that Dubai’s legislative and legal framework keeps up with the rapid developments of the digital economy and tremendous technological progress.

“We want Dubai to lead globally in adopting the technology of the future, understanding its developments, harnessing its potential, and driving change”, HRH Sheikh Hamdan said.

While Dubai Metaverse Assembly is a brilliant initiative of HRH Sheikh Hamdan bin Mohammed, key policymakers in the United Arab Emirates and the intelligence agencies are not aware of the fact that several scammers and scam cartels are already attempting to enter into UAE with fake crypto and so-called rainbowcurrency Ponzi schemes.

According to credible source, Nuno Jorge Da Cruz Sebastiao alias Jorge Sebastiao is one of the kingpins of massive scam cartel named Bank Bene Merenti that sells fake crypto named YEM coin to hundreds and thousands of people around the world, especially African and Asian nations. Bank Bene Merenti claims its fraudulent ‘YEM coin’ is “Rainbowcurrency”, an alternative name of Crypto. In our previous reports we have reported in details how this dangerous scam cartel, by making false claim of being an affiliated of the Bank of Japan is robbing-off hundreds of millions of dollars through fake YEM crypto by fooling people in Uganda, Nigeria, Ghana, Burkina Faso, Niger, Gabon, Zimbabwe, Gabon, Bangladesh, India, Pakistan, Sri Lanka, Afghanistan, the Philippines, Indonesia, Thailand, Vietnam, Cambodia, LAO PDR, Myanmar, Malaysia, Lebanon, Saudi Arabia, Jordan, Oman, Bahrain, Syria, Libya, Iran, Iraq, Egypt, and the United Arab Emirates.

Dan Settgast aka Daniel Settgast and Jorge Sebastiao are two of the kingpins of the scam cartel named Bank Bene Merenti, which has been robbing-off hundreds of millions of dollars through fake YEM crypto by fooling people through false claims and well-orchestrated propaganda. This scam racket runs under a Nevada-based non-profit named ‘YEM Foundation’. By pretending as an affiliate of the Bank of Japan, this scam cartel is mainly cheating people from Uganda, Ghana, Gabon, Tanzania, Nigeria, Kenya, Gambia, Ethiopia, Congo, Sudan, Angola, Burkina Faso, Mozambique, Cameron, Madagascar, Mali, Malawi, Senegal, Chad, Somalia, Zimbabwe, Rwanda, Guinea, Benin, Burundi, Tunisia, Libya, Egypt, Sierra Leone, Togo, Central African Republic, Liberia, Mauritania, Eritrea, Botswana, Lesotho, Guinea-Bissau, Mauritius, Eswatini, Djibouti, Comoros, Cape Verde, Seychelles, as well as South Asian countries such as Bangladesh, India, Pakistan and Sri Lanka. According to credible sources, this racket has also expanded network in the Philippines, Indonesia, Malaysia, Lebanon, Jordan, Oman, Bahrain, Syria and UAE.

According to information, Bank Bene Merenti and YEM coin cartel is running under the umbrella of another entity named ‘YEM Foundation’, a domestic non-profit corporation registered in Las Vegas, Nevada, USA as a non-profit company. Company Number: E0553072017-8. Native Company Number” E0553072017-8. YEM Foundation does not have its own office in the US. Instead it uses a virtual office address provided by a company named PHYSICALADDRESS.COM.

Our investigative reporter in the US has already checked every detail of the YEM Foundation, and found that the YEM coin and Bank Bene Merenti scam cartel is using this US non-profit as a shield of their criminal activities. It is also learnt from credible source that hundreds of millions of cheat-fund of Bank Bene Merenti, YEM coin, Dan Settgast, Jorge Sebastiao and other members of YEM Foundation scam ring is secretly deposited in various offshore accounts with the help of the Nevada-based company that provides virtual office address (304 S JONES BLVD, Las Vegas, NV, 89107) to this cartel.

It is also learnt, Jorge Sebastiao, real name Nuno Jorge Da Cruz Sebastiao, is the President of YEM Foundation and one of the top kingpins of the Bank Bene Merenti and YEM coin scam cartel.


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