Samuel Lee (aka Xue Lee and Samuel Lee), co-founder of the HyperCapital, HyperFund and Hyperverse Ponzi schemes, has launched StableDAO.
BehindMLM was capable of affirm Lee’s involvement by way of his look in an October seventeenth StableDAO webinar.
After a short introduction, Lee fobbed off the webinar to Chief Business Officer Garrett Blakeslee.
In a January 2021 interview with the Crypto Revolution Telegram group, Blakeslee revealed he “acquired into crypto again in 2017” by BitConnect.
On the time Blakeslee was selling his firm Block Duelers, a collapsed NFT rip-off.
In accordance with Blakeslee and after preloading Hyperverse scammers, StableDAO opened up registrations “just a few hours” earlier than the October seventeenth webinar.
We launched at present, about two hours in the past.
The early participation program is mainly a means for you lovely individuals to get in on the floor ground, and to start out incomes quick and to start out incomes now.
To drive recruitment of recent victims StableDAO is paying $10 per new investor recruited. New traders additionally obtain $100.
Residual recruitment commissions are paid out by a unilevel workforce.
The catch is that is all paid out in StableDAO “credit”.
StableDAO operates from the area “steady.restricted”, privately registered on September twenty eighth, 2022.
Additionally talking on the StableDAO webinar was Nicholas Hofgren, who laid out StableDAO’s Ponzi providing.
(In) one of many initiatives we’re working with we’ve acquired MOUs for refinancing. This permits us to safe a return in a three-month interval. Which makes us very glad.
The property is being bought at a nominal charge of about 8.5 ringgit per sq. foot, and we now have a refinancing that enables us to make roughly 33% on our invested cash.
Ringgit is the nationwide foreign money of Malaysia.
StableDAO’s rip-off is wrapped in finance bro jargon. Entrance and heart on its web site is the declare CitiBank is concerned:
I can assure you now CitiBank has nothing to do with StableDAO or Sam Lee. A minimum of not knowingly.
The gist of StableDAO’s fraudulent scheme is new suckers enroll and make investments on the promise of returns, purportedly tied to real-estate (evidently in Malaysia and elsewhere).
This fails the Ponzi logic take a look at for apparent causes. If StableDAO has already signed MOUs that may generate 11% a month, what do they want your cash for?
The reply is, like all of Sam Lee’s Hyper* scams earlier than it, StableDAO is one more Ponzi scheme.
Lee touts StableDAO traders will earn 4% a month on invested funds.
- make investments over $500,000 and also you’ll obtain an additional 1% a month
- make investments over $1,000,000 and also you’ll obtain an additional 2% a month
- make investments over $5,000,000 and also you’ll obtain an additional 3% a month
Funds invested into StableDAO are locked up for 10 years (i.e. you’ll by no means see them once more).
Farzam Kamalabadi, a StableDAO Non-executive Chairman, additionally spoke on the webinar.
Kamalabadi owns the HOO cryptocurrency alternate. HOO was closely built-in into HyperFund and Hyperverse, relationship again to not less than 2020.
Kamalabadi profited off traders shedding tens of millions in Sam Lee’s numerous Hyper* Ponzi schemes.
Searching for to revenue once more with StableDAO, he had this to share:
So this hybrid system is absolutely going to be the sport of the longer term. After which we now have actual belongings and actual operations.
No extra solely guarantees of a whitepaper, a function that by its outset is doomed and won’t ship.
On the finish they fizzle they usually die. However not right here. It’s unattainable that the venture will disappear.
Fearing arrest, Sam Lee and his Hyper* cohorts fled to Dubai in early 2021.
With associate in crime Ryan Xu, Lee launched HyperCash, HyperCapital, HyperFund and Hyperverse – all Ponzi schemes during which the vast majority of traders misplaced cash.
Hyperverse has two spinoffs; HyperOne and HyperNation. It’s unclear to what extent Lee is concerned in both.
Xu hasn’t been seen in public for over a yr. It’s unclear whether or not he’s concerned in StableDAO.
In any occasion, Dubai is the MLM crime capital of the world.
BehindMLM’s tips for Dubai are:
- If somebody lives in Dubai and approaches you about an MLM alternative, they’re making an attempt to rip-off you.
- If an MLM firm relies out of or represents it has ties to Dubai, it’s a rip-off.
Neither StableDAO, Sam Lee or any of its executives are registered to supply securities in any jurisdiction.
This could see StableDAO present regulators and potential traders with audited monetary studies, offering proof of the advertising claims.
The proof hasn’t been audited and filed as a result of StableDAO is a Ponzi scheme, run by a serial scammer.
