Daniel ‘Dan’ Settgast disappears from radar: What’s behind the silence amid Yem Coin and Bank Bene Merenti controversies?


The global stage of cryptocurrency often plays host to various controversies, but the intriguing web encompassing Yem Coin, Bank Bene Merenti, and Yem Foundation presents a unique conundrum. Fraudulent activities first came under the radar of global news outlets following publication of a bombshell report in an Indian news site named The Eastern Herald.

Following publication of this report, Blitz and few more newspapers throughout the world began further investigating the cases of Yem Coin, Bank Bene Merenti, and Yem Foundation and published a number of hard-hitting reports. Subsequently, the notorious scammer and extremely mysterious Daniel ‘Dan’ Settgast, the man behind these fraudulent ventures, has seemingly vanished from the public eye just as the accusations against his operations reach a crescendo.

The grand inauguration of Bank Bene Merenti, a purported central bank without any legitimacy, took place in Dubai, a city infamous for hosting scammers, terrorists, criminals, money-launderers and mafias. Despite the fanfare, the cloud of skepticism hanging over its operations hasn’t dissipated, deepening the enigma around Dan Settgast’s noticeable absence.

In an apparent defensive move, the network’s president, Jorge Sebastiao, launched a website alleging an ongoing legal battle with media entities that exposed their questionable activities. However, the supposedly raging legal conflict appears to be all but non-existent.

Meanwhile, Dan Settgast continues to run operations primarily within his investor network, a tactic that raises red flags about his motives.

An interesting twist to the story is Dan Settgast’s continued engagement with his investor base. He conducts regular webinars, where the narrative seems singularly focused on combatting the so-called “fake news”. This appears to be a strategic move to pacify his investors and keep them in check, adding another layer of complexity to the unfolding saga.


The repercussions of these deceptive operations have significantly impacted the African continent, with reports of relentless scams targeting innocent individuals. The worrisome situation, coupled with Settgast’s apparent indifference, begs the question: Where is Daniel ‘Dan’ Settgast, and why is his alleged fraudulent network operating seemingly unscathed?

The above is the launch event video of Bank Bene Merenti in Dubai.

Settgast’s mysterious silence and seeming disappearance have muddled the narrative of potential fraud and deceit. The lack of substantial action from international law enforcement bodies is disconcerting and brings to the fore questions about the potential machinations that could be enabling these ventures to continue.

As the plot thickens, the victims continue to reel under the alleged scam’s impact. The situation necessitates more vigilant scrutiny and decisive action to ensure the protection of individuals in the intricate landscape of cryptocurrencies and digital finance.

Meanwhile, Dan Settgast has been making bogus claims of taking legal action against Blitz and he also claims of serving legal notice on this newspaper, which are blatant lies. Instead, law enforcement agencies in Bangladesh would arrest Dan Settgast if he ever steps into this country as he has already been recorded as a notorious fraudster.

We also have learnt from credible sources that the Federal Bureau of Investigation (FBI) in the United States and other law enforcement agencies in a number of countries currently are looking for Dan Settgast and other members of his fraudulent Bank Bene Merenti or Yem Foundation.

Blitz remains unwavering in its commitment to uncovering the truth, persistently following the narrative as it continues to evolve.


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