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Financial pyramid NWA Fund: history and latest news
NWA Fund is created from a so-called consulting firm, Nova Blockchain Solutions. With the help of this project, Evgeny Galiakhmetov, one of the founders of BCSG, tried to implement an offshore crypto paradise in Abkhazia in 2022 and get support in Kazakhstan through the closed Seven club.
NWA Fund (Neo Wealth Advisors) began attracting clients in mid-2022. NWA Fund first appeared in September, at the “Crypto vs Wall Street” briefing.
Then there was a video on RBC TV, in the now defunct “Babich Trend” section.
During 2022 - 2022, the pyramid was advertised as “the first official crypto fund in the CIS.”
The case against the organizers of the NWA Fund pyramid comes under US jurisdiction
Those people who have been following the development of the cryptocurrency industry for several years remember very well that in 2017-2018 in Russia, and throughout the world, all sorts of cryptocurrency startups developed at a rather rapid pace, raising funds for their development through ICOs.
It was at that time, at the peak of the euphoria of the previous parabolic growth of the crypto market, at the end of 2017, that one of the fairly well-known projects in this area, NWA Fund, began its work. Investors were captivated by a unique investment management model, which consisted of distributing funds into 4 parts and investing them in:
- Bitcoin
- Altcoins
- Trading
- Various ICOs
Everything was done in the best traditions: colorful booklets, titled traders present on the company’s employee lists, lavish receptions and a lot of aggressive marketing. This scheme is as old as the hills, but, unfortunately or fortunately, it is quite effective to this day, since, having seen all this, people, in anticipation of easy money, took their savings there. After a short period of time, loyal NWA Fund ambassadors began to appear in all corners of vast Russia, promising fabulous returns to gullible investors.
The nature of human nature is such that we are sometimes ready to muffle the voice of reason, which calls us to come to our senses, and dive headfirst into what seems like the Garden of Eden. But life is designed in such a way that after intoxicating euphoria there is always a painful hangover, and in the history of NWA Fund, August 2018 was such a moment. It was then that a daring robbery occurred: the co-founder of the fund took advantage of a gap in the blockchain code and withdrew more than 1,000 BTC (about $7 million at that rate) to an unknown wallet and disappeared from view.
Other fund employees spent 3-4 months holding back the flow of indignation and dissatisfaction from investors. At that time, the management of NWA Fund decided to launch trading, which required huge capital investments, but did not bring any profit. In addition, in August 2022, the Bitcoin rate began its decline from $8,000 to $6,000, which hammered the final nail into the coffin of NWA Fund. Subsequently, the company began to reduce its staff at a rather rapid pace and cut its budgets in every possible way.
The year 2018 ended on such a rather minor note and 2019 has begun. Alarming news rushed from a high tower in Moscow City, the main office of the NWA fund. In private conversations, the brave, young and pretty founder of the foundation told people especially close to her that now, just a little more, everything would be fine, only she was pregnant with her third child, and as soon as he was born, things would go smoothly.
For many investors, everything had already become obvious, as the story developed in Russia, many of them were already sure that they would never see their money again. But relatively recently a very interesting fact came to light: it turns out that one of the investors has a passport of the United States of America, which automatically completely changes the rules of the game. The fact is that US citizens are under the protection of the Securities and Exchange Commission (SEC), which can handle financial schemers and swindlers of any stripe.
As practice shows, far-sighted scammers prefer to negotiate with the injured party’s lawyers and not bring the case to court. Otherwise, a real catastrophe occurs, in the literal sense of the word, a real hunt begins for those accused of financial crimes: the FBI, all private armies and intelligence services, as well as the authorities of 170 countries around the world begin to look for suspects. They themselves are interested in this, since after catching the scammers, they will receive a certain compensation from the US government, the amount of which depends on the severity of the crime committed.
The numbers don't lie, and they show that 99 out of 100 financial swindlers sooner or later end up behind bars. Moreover, US legislation is designed in such a way that murderers, rapists and other especially dangerous criminals receive much less punishment than financial fraudsters. Typically, they receive between 30 years and 3-6 life sentences without the right to appeal or parole. In this case, neither a big name, nor big money, nor the protection of countries that do not cooperate with the United States, of which, by the way, there are only 6 in the world, can help.
And now the most important part of the article, which, first of all, is addressed to the organizers and investors of this “wonderful pyramid” NWA Fund. The American company Crypto Alba Trust, which also investigates fraudulent transactions in the field of cryptocurrencies and has a large staff of American-Israeli lawyers, lawyers and private investigators, has begun an investigation into this matter. These guys have dozens of solved cases behind them; the company is involved in the most high-profile and scandalous cases on Wall Street. We are talking about a class action lawsuit, the initiators of which are already 24 people (this list will be updated), including a US citizen, thanks to which the case comes under the jurisdiction of the SEC.
If you have become a victim of fraudulent transactions related to ICO, IEO, ISO, or cryptocurrencies, here you go: @cryptoalbatrust, if you are one of the victims of NWA Found, you can fill out this form: https://forms.gle/k72mv6nDBv7DiDDe8
How the NWA Fund cheats its investors: methods of operation of the NWA Fund pyramid
At the end of June 2022, the administration announced the suspension of payments, after which investors found NWA FUND tokens instead of bitcoins in their personal accounts. Next, the participants were required to sign a new agreement, according to which the investors agreed to transfer their funds to the ownership of “Yulia, hereinafter referred to as the “Fund Manager.”
At the end of November 2022, a petition was created on Change.org. Galina Fadeeva, who lost money in the pyramid, appealed to the President and the Government of the Russian Federation with a request to investigate the company’s activities, confiscate the property of the beneficiaries and compensate the victims.
On December 20, 2022, a criminal case was initiated against the organizers of the NWA Fund under Article 159, Part 4 of the Criminal Code of the Russian Federation “Fraud committed by a group of persons or on an especially large scale.”
From April 9, 2022 to the end of 2022, the NWA crypto fund Telegram channel reported that “technical work is underway” on the site.
At the moment, the investigation has not been completed, there are no lawsuits against the company and the organizers, the nwafund.com site continues to accept new victims right now.
When we began to study the situation with the NWA Fund and what was happening around the pyramid, we discovered a publication dated August 2, 2022 on the Zen channel “Cryptocriticism”. In this extensive collection, several materials on the NWA Fund were re-cited. Notable public events with the NWA Fund and the latest news are from 2020.
According to the investigation, a total of 16,175,843 rubles were stolen.
After Cashbury: another company was accused of creating a pyramid using cryptocurrencies
Last week, a petition appeared on the Change.org portal demanding “to stop the lawlessness of financial pyramids and financial scammers on the territory of the Russian Federation.” The petition, addressed to the President and Government of the Russian Federation, is directed against the activities of the Neo Wealth Advisors (NWA) Fund company. The latter positions itself as “the first official Russian cryptocurrency fund” and “a closed tokenized fund for investing in cryptocurrencies.”
Petition page on Change.org
According to the author of the petition, Galina Fadeeva, NWA Fund operates on the principle of a financial pyramid: trading is not conducted on the stock exchange, and funds are paid from newly received investments. The company conducted an active PR campaign and attracted customers through advertising, forums and conferences. Public figures took part in NWA Fund events and conferences: for example, Vladimir Solovyov, Irina Khakamada, Alexander Gordon. You can learn how such conferences were held in the following video.
According to the NWA Fund website, the company began its activities in 2015 with a family office (the founder is Yulia Pogasy, her husband Oleg Klimenko is the head of the legal department of the BSCG company headed by Yulia). The website says that by June 2022, the fund had more than 5,406 participants with a total capital of $34 million. According to the fund’s management, its profitability is ~10% per month in a falling market, and up to 30% in a growing one. In October, the company launched its token exchange platform NWA Token Exchange. As announced in the NWA telegram channel, in November the fund was supposed to undergo an audit and report the results to its investors. In December, according to information on the website, the fund promised to pay dividends to NWA token owners for the 4th quarter of 2022.
The NWA website does not list contact persons or project team representatives. The only means of communication are a general telephone number, an email address and a telegram channel, which currently has just under 2 thousand members. A separate section of the site is dedicated to the NWA token, but there is practically no specific information in it; no white paper either.
There are only four documents on the site, two of which are presentations of the project in Russian and English. Two more documents are extracts from the register of the Dutch Chamber of Commerce, where the fund and the management company NWA Management BV are registered. The actual address is the village of Teteringen in the south of the Netherlands. The general director of both legal entities is Yuliya Pogassiy. In Russia, judging by the information provided on the fund’s website, the company is based in a business building on Presnenskaya Embankment.
Description of the project on the NWA Fund website
According to the author of the petition on Change.org, Galina Fadeeva, in Russia NWA operates as OOO BUSIESG. The company is located in the Presnensky district of Moscow on the street. Krasin, its authorized capital is 100 thousand rubles, and there is only one employee on its staff - the general director. The 100% owner of the company is Yulia Pogasy, who is a foreign citizen, as follows from the SPARK-Interfax database. Since October 2022, the legal entity has been in the process of liquidation. There is no information in SPARK-Interfax that OOO "BISIESG" is affiliated with NWA structures. However, Pogasy also introduces himself as the president of the blockchain company Blockchain Solutions Group (BCSG). Transliteration of the abbreviation this, owned by Pogasy.
On the Repayments page on the VKontakte social network, the place of work is indicated), operating on the principle of network marketing. At Rilife she holds the post of president, according to the company’s Youtube channel. In addition, judging by the SPARK-Interfax database, the entrepreneur owned another MLM - liquidated in April 2022.
According to the author of the petition, in June the fund's management suspended payments, citing a hacker attack and financial losses of $300 thousand.
In the NWA telegram channel, the company reported attempts to raid the fund. After this, management launched a new platform and changed the investment terms. In particular, bitcoin assets on the participants’ accounts were replaced by NWA tokens, and the new agreement provided for the transfer of all previously made investments into the ownership of the company. According to Fadeeva, this was done with the aim of appropriating investors’ funds, transferring them abroad and evading criminal liability.
With regard to the NWA Fund, the authors of the petition demand that a criminal case be opened, that the company's employees travel abroad during the investigation, that the accounts of the company and its managers be blocked, that property be seized, that the fund be recognized as a financial pyramid, and that its activities be banned in the Russian Federation.
In addition, the petition proposes to introduce life imprisonment for the creators of financial pyramids, to provide for the confiscation of property from them and members of their families, to introduce fines for supporting pyramid PR companies, and to make the withdrawal of funds to foreign accounts equal. The authors of the petition ask that special attention be paid to “financial pyramids working with cryptocurrency.” The petition was published on Change.org on October 28 and had received 170 signatures by the time of publication.
Following Cashbury
This is not the first time recently that a company has been accused of organizing a financial pyramid using cryptocurrencies. At the end of September, the Bank of Russia called a group of Russian and foreign financial pyramids. The regulator transferred data about the group of companies to the Ministry of Internal Affairs and the Prosecutor General's Office.
The Central Bank described Cashbury as “one of the largest financial pyramids” discovered in recent years. It did not have the regulatory licenses required to offer financial services. In addition, the regulator emphasized that it does not see any signs of real economic activity at Cashbury. According to the Bank of Russia, the damage from the company’s actions could amount to 3 billion rubles.
Description of the project on the Cashbury website
Cashbury positioned itself as a p2p platform and offered to invest in “issuing microloans to individuals, small and medium-sized businesses, as well as lending to service users on collateral.” Funds were raised both in rubles and cryptocurrencies. promised clients up to 600% per annum and carried out an aggressive advertising campaign, in which, as in the case of NWA Fund, famous people participated: for example, Nikolai Baskov and Olga Buzova.
In mid-October, the chairman of the board of the Cashbury holding, Artur Vardanyan, made an appeal in which he announced a temporary suspension of work until November 1. Vardanyan promised to return the funds to investors, and at the same time accused the media of a “news bacchanalia” and called what was happening “an unfavorable matter.” At the end of October, it became known that the Cashbery Limited company, which is part of the Cashbury Group of Companies and is managed by Arthur Vardanyan, will be excluded from the register of the UK Companies House.
On November 1, Arthur Vardanyan made a new appeal, in which he announced that Cashbury was completely ceasing its activities. According to Vardanyan, “it is unacceptable to continue the operation of all our platforms, since we simply will not be allowed to do this.”
The head of Cashbury again promised to compensate investors for their losses. For this purpose, the organizers of the holding, recognized as a financial pyramid, expect to create a new company, the launch of which is planned at the beginning of next year. According to Vardanyan, the Cashbury customer base will be synchronized with the new platform and each user will receive a starting deposit in the amount of the company’s debt. Interestingly, despite what is happening to the company, affected users are willing to invest in a new company in an attempt to get their money back.
What will happen to investors?
Bloomchain asked the head of the working group on cryptocurrencies in the State Duma, an expert in the Administration of the President of Russia and the Public Chamber, Elina Sidorenko, who was also approached by NWA Fund clients, to comment on the situation with the NWA Fund. “We are taking it [the situation] under expert control,” noted Elina Sidorenko in her Telegram channel.
In a conversation with Bloomchain, the head of the working group on cryptocurrencies in the State Duma expressed the opinion that the activities of NWA Fund “should be checked by law enforcement agencies, since there are a large number of persons in respect of whom the company has not satisfied its obligations.” Another factor for inspection is the lack of transparent investment schemes and settlements with investors.
Sidorenko noted that the chances of protecting NWA Fund investors in the legal field are very small.
“We cannot a priori initiate a case of fraud, because cryptocurrency is not the subject of theft, and fraud is theft. The second point is that it will be difficult for us to establish their intent: according to the latest recommendations of the Supreme Court, intent must arise before the organization is created and its investment activities begin,” the expert argues.
The adoption of a law on cryptocurrencies will not help the situation, Sidorenko believes, since it will not have retroactive effect on projects that are already being implemented. “It seems to me that the victims in this situation can only hope for the concept of justice in relation to other projects that have not yet “burst.” Their investments are unlikely to be reimbursed, because the company did everything to hide this money,” she noted.
However, according to Elina Sidorenko, a case of fraud can still be opened if it is proven that money was concealed or that funds were given to first-line investors at the expense of second-line investors.
According to Elina Sidorenko, it is necessary to attract the attention of the state and the public to the problem of investment funds that use cryptocurrencies for fraud. To this end, the expert, together with deputy Natalya Kostenko, is initiating a project aimed at creating a law to protect investors from such funds. As Sidorenko previously noted in her Telegram channel, Natalya Kostenko also “prepared a request addressed to the Prosecutor General with a request to understand the situation.”
“If now the state takes a step towards introducing the concepts of “cryptocurrency” and “token” into the legal field, then tomorrow we will be able to protect these investors. The main task that I personally see for myself now is to attract attention and ensure protection through the adoption of a law,” concluded Elina Sidorenko.
Waiting for the law on cryptocurrencies
In March 2016, Russian President Vladimir Putin signed amendments to the Code of Administrative Offenses (CAO) aimed at limiting the creation and functioning of so-called “financial pyramids”. The bill was adopted by the State Duma on February 19 and approved by the Federation Council on March 2, 2016. The document supplemented the Code of Administrative Offenses with Article 14.62, which provides for fines for individuals and legal entities for organizing “financial pyramids.” Their size ranges from 5 thousand to 50 thousand rubles for citizens, from 20 thousand to 100 thousand rubles for officials, and from 500 thousand to 1 million rubles for legal entities. Similar fines are provided for the dissemination, including in the media, of information and advertising about the attractiveness of participation in “financial pyramids”.
There is no legislation for cryptocurrencies in Russia yet; virtual currencies and tokens are currently outside the legal framework.
The Bank of Russia consistently opposes cryptocurrencies and the organization of their exchange. According to the regulator, their circulation carries high risks for both consumers and investors, and transactions with cryptocurrencies can be used for laundering proceeds from crime.
The corresponding bill is currently being considered by the State Duma. Deputies planned to adopt it back in the spring session, but then only the first reading of the document took place. In early November, it was reported that the document would be adopted before the end of 2022. However, today it became known that the document could be rewritten and returned to the first reading.
In its current version, the bill “On Digital Financial Assets” regulates the issuance, accounting and circulation of monetary claims, issue-grade securities and rights to participate in capital (analogous to a share in an LLC) issued in digital form. The document restricts the purchase and sale of digital financial assets, as well as their exchange for tokens of another type or for digital transaction signs - such transactions can only be carried out through credit institutions or exchanges.
The document raises many questions and criticisms from the expert community. For example, by the second reading the concepts of “mining” and “digital money” disappeared from the bill. As Anatoly Aksakov, Chairman of the State Duma Committee on the Financial Market, noted, if the term “mining” existed, the concept of “cryptocurrency” would have to be introduced.
“There is bitcoin, there is ethereum, there are many cryptocurrencies, the essence of which raises big questions <...> “I believe that the future of these fiat currencies is numismatic and sad. Most likely, they will leave the market,” Anatoly Aksakov explained the changes in the text of the bill on DFA.
Founders, managers and top officials of the NVA Foundation
The wild media frenzy around the NWA Fund makes it difficult to distinguish the former from the latter. However, no one has repealed Article 34 of the Criminal Code of the Russian Federation for complicity in a crime.
Julia (Yuliana) Pogasy (Pogasyan)
With such an abundance of first and last names, he does not have a middle name. Seriously, that’s what it says in the Unified State Register of Legal Entities. In a criminal case, instead of the patronymic “I”. Organizer and media person of MLM RiWAY, Rilife and Marble in 2014 - 2016. And then NWA, a full-fledged pyramid, in 2022.
The official founder of two (liquidated) and BusinessGee LLC (at the stage of liquidation). The latter is the legal entity of NWA Fund.
Maintains friendly relations with Andrey Karpukhov, the organizer of the Blockchain Fund hype project.
She is not a citizen of Russia. In 2022, together with her husband, she received an American visa.
Evgeniy Galiakhmetov
Evgeniy Rinatovich Galiakhmetov. Until 2014, he headed the retail business department at Zenit Bank. Then I decided to look for myself in more creative areas. Consistently organized the platform for the sale of digital assets SkyIndex, the venture holding Altergate, and The Gate Club meetup.
He tried to lead Abkhazia and Kazakhstan along the path of Malta, promising to solve the problems of the budget deficit through contributions from cryptocurrency companies and government issues of cryptocurrencies (Abkhazian Coin, ABHCoin). For this purpose, he created the Nova Blockchain Solutions structure, together with David Mirzaevich Suleymanov. Then it was smoothly transformed into the NVA Foundation pyramid.
After the scandalous revelations, the scam shifted its interest to the so-called DTI Algorithmic consulting fund. This site does not have a website at all, only a blog.
Oleg Klimenko
Oleg Arnoldovich Klimenko, former accountant and general director, is now the liquidator of BusinessGee LLC. Husband of Yulia Pogasy. Individual entrepreneur with TIN 772704616107. Founder of the liquidated enterprise Mega Resource LLC, which traded fuel and petroleum products.
Evgeniy Pitch
He is Evgeny Vladimirovich Vasiliev. Registrar of the Estonian legal entity BCSG Consulting OÜ, for which permission to exchange virtual currency was issued.
The initiator of the crazy project for the production of energy drink Silber Pfeil with the parallel release of the AMG Token token for it.
In early July 2022, Evgeny Vasiliev decided that enough was enough, ordered the system administrator to give him the password for the corporate wallet, withdrew more than a million rubles and disappeared. On July 6, director Oleg Klimenko filed a complaint against his former colleague at the Department of Internal Affairs for the Khamovniki district.
And then the owners of NWA Fund made Evgeny Vasiliev the last one in front of investors. Claiming that he stole everything and therefore has nothing to pay with.
Sergey Nekrasov
Former Forex analyst - MFX Broker kitchen. In this capacity he was published on PRIME in 2014. When the Georgian police announced a search for the owners of MFX Broker in 2022, he was forced to change his job. He held the position of portfolio manager at NWA Fund. He promoted the pyramid on the RBC channel “Babich Trend”.
Yaroslav Gordeev
Featured in press releases as development director and leading speaker. Started collaborating with Yulia Pogasy in MLM Rilife.
Now Mr. Gordeev acts as the head of the cryptocurrency platform for passive income Phenom Club (aka TCGroup).
Dmitry Dein
In promotional materials he loudly calls himself a developer of Wi-Fi and LTE technologies, a member of the World Association of Cryptographers and the owner of the Virgil Security company. The most interesting thing is that the latter fact is confirmed by Crunchbase.
Dmitry did not limit himself to cybersecurity. Until 2014, he ran PYR Software (now Amaya Software), a gambling software company owned by PokerStars owner Isaiah Scheinberg. However, it’s no secret that gambling and cryptocurrencies are closely related.
And Virgil Security and NWA Fund were actually office neighbors in Moscow City.
In addition, the materials of the criminal case name Olga Aleksandrovna Korolenko and Ivan Pavlovich Shevchenko as accomplices. Nothing is known about Shevchenko. The story with Olga Aleksandrovna is interesting; she appears in some public directories as the liquidator of BusinessGee LLC, although according to the Unified State Register of Legal Entities it is Oleg Klimenko. It is possible that it was Ms. Korolenko who promoted the pyramid at Miss Blockchain 2017.
NWA Fund (BCSG): site and mirror check
The site nwafund.com is currently available; previously there was a mirror bcsg.io. The first domain registrar nwafund.com indicated a contact phone number +79645801717 and email
- The domain bcsg.io was registered on September 11, 2022.
- Nwafund.com was registered 2 months later, on November 23rd.
The first version of the bcsg.io website was published on October 12, 2017. It looks like a hastily made presentation page, with obvious nonsense written in the “Trading” block. In February 2022, bcsg.io was disabled and has never been restored.
The nwafund.com website began operating in August 2022 as an advertising page for Neo Wealth Advisors.
In December 2022, amid a petition and a criminal case, a cosmetic rebranding was undertaken. And the site continues to operate in this form to this day.
The domain is registered by the Russian provider REG.RU, hosting is provided by Cloudflare, Inc. It is noteworthy that until 2022, the servers were located in Russia, at the companies Hostland ltd (St. Petersburg) and CLOUD WDC collocation (Irkutsk).
A few words about NWA Token
The ecosystem provides a universal unit of accounting for equity participation - the NWA token. Owners of the project’s internal currency can sell or invest their monetary assets using blockchain technology.
The main advantage of the NBA token is that each unit of it is backed by capital under the control of fund specialists.
Additional benefits of project tokenization are:
- receiving stable quarterly profits in the form of dividends;
- independent management of monetary assets;
- unlimited scope of application (the use of tokens does not depend on the time and location of the investor);
In addition, it is worth noting the periodic increase in the cost of tokens due to the growth of the internal capitalization of the system. The quick transfer of rights to profit is another significant plus in favor of choosing the NWA fund. The final decision is yours.
03.11.2018 09:26
NWA Fund (BCSG holding): verification of legal entity and license
The Russian legal entity NWA Fund LLC "BusinessGee" was registered on December 4, 2017, at the address 123056, Moscow, Krasina Street, building 21, room/room. VI/2. Assigned GRN code 5177746284865 and OKVED 66.19, “other auxiliary activities in the field of financial services.” Does not pay taxes, does not provide tax reporting, and has been in the process of liquidation since December 28, 2018.
The website nwafund.com provides information on the registration of NWA Management BV and Stichting NWAFund with the KvK* uittreksel, the Dutch Chamber of Commerce. Both documents were received on April 4, 2022.
In addition, BCSG Consulting OÜ was registered in Estonia on May 15, 2018, in the name of Oleg Klimenko. On June 26, 2018, the company received permission to exchange virtual currencies in Estonia. That is, even such an ephemeral cover was launched after a year of the project’s work. The enterprise is abandoned, reporting has not been provided since its creation, the license expired in April 2022.
Speaking of licenses: how did it happen that a notorious pyramid scheme is not only not included in the blacklist of the Bank of Russia, but is not even mentioned on the regulator’s website?
NWA Fund (BCSG): addresses and contacts
Contact information has been published on the website nwafund.com: address: Moscow, Presnenskaya Naberezhnaya, 8 building 1, Capital City Tower, northern block, 15th floor. As well as telephone and email
Yandex.Maps does not remember either NWA Fund, or BCSG, or Neo Wealth Advisors. But there are traces left on numerous resources that enter addresses without verification and update them on occasion.
The number was rented from VimpelCom (Beeline). Previously used by MLM RiWAY, a project by Yulia Pogasy.
NWA Fund (BCSG) audience analysis
Audience interest in the NWA Fund began in December 2022, peaked in April 2022, and dropped to virtually zero by December 2020.
Most of the publications were published in Kazakhstan, and secondarily in Russia.
NWA Fund (BCSG) Attendance Statistics
Which is reflected in the fairly average attendance. 212 visitors visit nwafund.com per day, 6,346 per month.
My experience with NWA Fund
Initially, I myself registered with the NWA Fund, although of course I did not invest money due to the negative nuances mentioned above. A month later, my account was blocked for “posting advertising materials of our Foundation without our permission.” Apparently, they meant the 2 pictures included in this review. Considering that these pictures do not contain any secret information and characterize NWA Fund on the positive side, such blocking is clearly a negative signal for investors “Any account can be blocked at any time for any reason!”
NWA Fund (BCSG): scam ambassadors
Like other large-scale scams, NWA Fund organized social events and attracted public figures. For example, in June 2022, a pretentious crypto conference was held with Vladimir Solovyov as the presenter. Irina Khakamada and Alexander Gordon also took part in it.
Danila Babich, the host of the “Babich Trend” (later “Markets”) column on RBC, helped him gain credibility among investors. He was the first to start promoting the pyramid on official channels. When the royalties from the pyramids ran out, he began to earn extra money as an event host.
NWA Fund investment portfolio
The main objective of the project is to effectively combine the most profitable and risk-free investment solutions in the cryptocurrency market. At the same time, the creators of the ecosystem voice 4 main goals for forming an investment portfolio:
- Qualitative increase in capitalization by converting company profits into additional capital.
- Increasing investor returns through the use of proven strategies with the participation of professional traders.
- Optimization of risks as a result of careful analysis and preparation of expert assessments on the current state of cryptocurrency market relations.
Due to the fact that the ecosystem is closed, there is a significant reduction in transaction costs.
NWA Fund (BCSG): Client Rights in User Agreement
In addition to registration certificates, only the security policy (NWA Fund Privacy Policy), dated September 1, 2022, is published on the nwafund.com website. There is no offer, client agreement, or AML policy at all. And the analysis could end here, because even small individual entrepreneurs publish offers if they intend to work legally.
But there is something to look at in this security policy. For example, since when do businesses require customers to disclose their nationality?
? And for what purposes might such information be needed?
How does NWA Fund deceive investors?
The NWA pyramid at the height of its fame claimed rapid growth in its customer base and investments - $33 million from 5,000 people.
The minimum investment amount to join the fund was $1,000 or 0.5 BTC, which, for a moment, was about $6,000 at that time. The profit from $1,000 was promised to be huge - 250%.
Investors were offered to formalize “trust management”. That is, their money came into the possession of the company’s managers, who allegedly invested it in cryptocurrency and paid a percentage to clients.
In fact, it was a semblance of work. Nobody invested anything anywhere. Yes, at first people received dividends, but it was the money of new investors. And then you know - the NWA Fund scam was announced.
Real stories of deception: reviews from NWA Fund investors
Predictably: both paid and honest reviews refer to 2018. For example, investor Irina was worried in June whether the company would overcome force majeure, and had already begun to suspect something was wrong.
In July, Andrei, having already lost hope in the NWA Fund, proposed in his response to organize a community to contact government agencies.
And since whistleblowers were not yet accustomed to Youtube 3 years ago, there are relatively few videos with complaints. And the authorship of most of them belongs to Vitaly Kyiv, a professional fighter against pyramids.
Who will help with the return of funds from fraudulent pyramid schemes?
It is better to collect documents for chargeback with the help of a lawyer. After all, the procedure is complex and lasts more than one month. And its outcome depends on a competent approach. Even if you get the money back from the NWA Fund via chargeback, you shouldn’t give up and despair. Contact our partners for advice, they will tell you how best to act in your case.
Have your own review of NWA Fund? Be sure to share it in the comments to the review!
Can NWA Fund investors get their money back?
According to the materials of the criminal case, the organizers of the NWA Fund received funds from investors into the personal accounts of Yulia Pogasy and Oleg Klimenko at Alfa Bank, in cash in rubles and dollars, as well as bitcoins into their own wallets.
Will a chargeback help me get my money back from the NWA Fund?
Since the victims’ money did not go to the legal entity’s bank account, the procedure for returning payments on bank cards of International payment systems through a protest (chargeback) is not applicable in this situation.
Real refund of funds from the financial pyramid NWA Fund through the Chargeback procedure
If payment for a service was transferred to the account of a legal entity, but was not provided in the end, the client has the right to demand a refund. This procedure—disputing a payment—is called Chargeback. Its essence is to contact the issuing bank, providing evidence of fraud for money. There are only two conditions for the application to be considered - the payment must be made from a Visa, MasterCard, MIR card, and no more than 540 days must have passed since the transfer. The evidence must include convincing real facts:
- bank account statement;
- correspondence and calls with pyramid employees;
- cash receipt order;
- contract
Documents confirming the client’s case must be correctly collected, because Chargeback takes months and will be approved only if the client proves fraud for money. Therefore, it is best to involve lawyers who will take into account all the nuances and protect the interests of the ex-client of the investment scam.
