Forex Birds claimed in its website that investors’ funds are covered by a $1 million insurance with no extra cost to them. The company also claimed that there is a low-level risk associated with their investment offerings.
The Bitcoin Pope allegedly promised investors 5% in profits after 24 hours for four days if they invest $500 in Forex Birds ECN Plan. He also promised a daily 7% profit for four days for an investment of $3,000 in the company’s Standard Plan.
Balusek promised a profit of 11% after 65 minutes to investors who will invest $6,000 in Forex Birds’ Premium Plan. He promised a daily profit of 15% for 30 days to investors who will invest $10,000 in the company’s Prime plan.
The Bitcoin Pope allegedly told investors that he charges a 20% commission on the total profits he generated for them.
Balusek and his fellow respondents’ allegedly made deceptive, false, and fraudulent claims
According to the Texas securities regulator, Balusek, Gondesi, Forex Birds, and Pek Universe are not registered agents or brokers to offer securities for sale in the state. The respondents engaged in fraud by offering unregistered cryptocurrency investments.
