Dominic Mujelli and Davide Gelain, the founders of VsafeCustody, originally called it the Ver-cal Gain Club. In addition to Davide Scola, Johnny Monticelli, Gabriele Gambinj, and Roberta Sofficiati, agents Riccardo Buffoli and Daniele D’Avanzo, and the Super Money Freedom Guru Paolo Luini from Tenerife were part of the squad.
For a person to join, they had to be introduced, pass the selection process, and invest substantially. As outlined by VsafeCustody, there were three distinct package kinds available. Investments in Rothschild trading platforms, they claimed, were the source of the guaranteed 120% APY or 10% monthly ROI.
In 2020, VsafeCustody changed its name to Adonit, but preserved its three packages and ROI claims. Isn’t it fun to mess around with names? Offering to serve as a custodian through a mentorship program, the trust service provider offered to help clients receive the promised returns on investment.
This allowed anyone to join the club with no respect for the screening procedure at VsafeCustody, which was experiencing financial concerns. VsafeCustody set up Vclubs in order to stay afloat and build its agent network by requiring people to join and pay a monthly charge.
After VsafeCustody received an alert from the trust service provider in November requesting any documentation proving that the benefits promised to investors were genuine, the company was required by the trust service provider to comply (not surprisingly, there is no such data).
Adonit made about $72 million in December 2020. Isn’t that impressive? The trust service provider offered credit collateralized by investor deposits for risk assessment and Ponzi scheme protection because they hadn’t spent customer cash till they uncovered the techniques.
Adonit and Vsafe were never purchased by the trust service provider. Because there was no more money, VBOND was born in May. Adonit contracts had to be converted to VBOND, which is short for “debt.” Even though no contracts were signed, they paid out huge commissions to all of their agents. VSAFE has to agree to buy VBOND from Trust Token at the specified price in order to be backed by Trust Token.
Vsafe received a preferred price received by Vsafe during the pre-seed round to settle massive obligations. Despite their best efforts, they were only able to retrieve a small percentage of the loans. Because the trust service provider had the money (which was obviously incorrect, as nearly all of the money had already been gone for good! ), Vsafe claimed that they could not make the payment.
It was revealed by the trust service provider that some people who had collected money from other people to acquire shares were changing the money sent into other accounts to re-enter the market with a proportion gain—a completely new Ponzi fraud! Trust service provider agents Vsafe and Adonit are falsely claiming to be What’s up with all the deceit, then? Trust service providers have banned Vsafe for noncompliance and fraud since December 2017.
When all was said and done, everyone received their shares.