Gangs of frauds are running several fake entities such as ‘Bank Bene Merenti’, whereas law enforcement agencies and mainstream media outlets still are unaware of the danger posed by these entities. We in this newspaper are publishing reports and articles exposing scams and frauds committed by quite a large number of criminals, who are either selling fake cryptocurrency by using fake blockchains or are fooling people by falsely pretending as “legitimate” banks or financial institutions.
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READ: YEM coin cartel makes false claim centering Bene Merenti
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Ever since we began publishing reports exposing fraudulent activities of Bank Bene Merenti, YEM Foundation, YEM coin, EcoX, EcoShumi Foundation etcetera, some of our readers asked if we are against cryptocurrency. In this case, our reply is – we surely are not against genuine cryptocurrency or blockchain. Instead, we are against scammers and frauds. This newspaper will encourage and even promote genuine cryptocurrency and blockchain as we too know – cryptocurrency in the future of virtual cash. In this case, it is indeed essential to identify the frauds and scammers in this sector – expose them as the presence of scammers and frauds in this sector would not only jeopardize the prospect of this growing sector, it also will generate serious doubt in the minds of people about this future-generation “cash”.
Exposing Bank Bene Merenti
The kingpins behind the so-called Bank Bene Merenti continue to claim it as the “Central Bank” of “Sovereign Order”.
Which sovereign order?
They keep fooling people by stating it is the “central bank” of “Sovereign Order Bene Merenti”, which is a society registered in Latvia (Registration number 40008097119, dated December 29, 2005) under the Register of Associations and Foundations with a virtual office at Lielirbes iela 6 – 92, Rīga, LV-1046, Latvia. Its certificate of the registration number is B011805, dated July 30, 2009.
This means, it can open a cooperative society or cooperative bank in any of the provinces in Latvia with permission and license issued by the authorities concerned. According to the information, ‘Sovereign Order Bene Merenti’ does not have any permission to open a cooperative bank in any of the provinces in Latvia. Moreover, this society does not have any office of its own.
Under financial institutions’ law and international law, this ‘Sovereign Order Bene Merenti’ cannot operate or open any regular bank to operate internationally, while for it to have a “central bank” is out of the question. So, the claim by the kingpins of ‘Bank Bene Merenti’ of being the “Central Bank” of the “Sovereign Order Bene Merenti” is outrageously false. Meaning, these frauds, and scammers are fooling people with such a game of words and falsehoods.
One of the key kingpins of the bogus “Bank Bene Merenti” is Dan Settgast aka Daniel Settgast who also is running several dubious projects in the United States. Our reporters are already investigating these dubious companies run by Daniel Settgast aka Dan Settgast namely: United American Capital Corporation, Unicorn Network, SafeZone, Rainbow Foundation, Rainbow Currency (YEM), TWNKLChain, TWNKLBuy, TWNKL Shop, TWNKLEstate, TWNKLBds, CashBackMarketing, WeShareSuccess, Wazzup, and PrizeMania.
READ: Grand scam cartel of Jorge Sebastiao, Dan Settgast and YEM coin
We would also like to mention here that, none of the governments in the world have until now granted approval for opening any bank to deal with cryptocurrency. But, with a bogus claim of being the “Central Bank” of Latvian society, kingpins of ‘Bank Bene Merenti’ are running the business of their fake cryptocurrency named ‘YEM coin’, which they tout as rainbow currency.
According to information, Bank Bene Merenti and the YEM coin cartel is running under the umbrella of another entity named ‘YEM Foundation’, a domestic non-profit corporation registered in Las Vegas, Nevada, the 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 for their criminal activities. It is also learned from a credible source that hundreds of millions of cheat-fund of Bank Bene Merenti, YEM coin, Dan Settgast, Jorge Sebastiao, and other members of the 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.
One of the key kingpins and masterminds behind this scandalous ‘Bank Bene Merenti’ is an individual named Jorge Sebastiao, who is the president of the YEM Foundation.
Jorge Sebastiao (Jorge Sebastião) aka Nuno Jorge Da Cruz Sebastiao, has a past track record of a series of frauds and scams, including swindling 136 million Euros from people in Spain through a cryptocurrency scam named Nimbus.
Recently Jorge Sebastiao has a suspicious company named ‘EcoX’ in Dubai and has recently launched another fraudulent project named ‘EcoX Africa’ targeting millions of African people.
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
READ: Chechen man runs online casino business in Dubai
Earlier, Jorge Sebastiao with the collaboration of another fraud named Kamil Grunt had 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 the publication of an investigative report in Blitz, many people have already left the ‘EcoShumi Foundation (LinkedIn), fraud racket after knowing the criminal past of Jorge Sebastiao, Kamil Grund, and a few other members of this group.
As this fraudulent entity named ‘Bank Bene Merenti’ has already infiltrated several cities in India, African countries, and Dubai, it also reportedly is trying to penetrate inside Bangladesh and reportedly has partnered with some locals in Dhaka, law enforcement agencies in Bangladesh, as well as Bangladesh Bank, should begin an immediate investigation into the matter – locate the local cohorts of this dangerous fraud racket and take necessary legal measures.
