A few months after recovering from the loss of its website, Elevate Pass has once again failed.
This time, CFO Mark Verdellen is cashing out and fleeing for financial reasons. Instead of simply admitting they ran out of invested funds to pay out, Elevate Pass has presented Verdellen’s exit fraud as a result of poor financial management.
In a video explaining his exit scam and the lack of funds for Elevate Pass, Verdellen appeared and read the following script:
“My name is Mark Verdellen, and I’d like to educate you all about the current situation at Elevate Pass. Elevate Pass’s current financial status is dire, and I am solely responsible for it.
My poor choices have resulted in the majority of the company’s money being lost. I made these financial decisions independently, without notifying the other founders.
I did not inform the founders months ago when a big chunk of funds were gone. I concealed and covered up the company’s true financial condition from them and chose to act alone with the aim of regaining it.
This resulted in jeopardizing the entire company. I sincerely apologize to the founders and members of the organization. As a consequence of my actions, I am immediately resigning as CFO and member of Elevate Pass Limited.
I am aware that Elevate Pass may file a lawsuit against me. Mark Verdellen is a serial Ponzi scammer. Previously, he co-founded ImpulsX with serial con artist Darren Bradbury. Prior to that, Verdellen promoted Fred Stege’s Ponzi scheme, Elysium Capital.”
Elevate Pass was a straightforward adpack Ponzi scheme with a 200% ROI. After Verdellen’s exit fraud, Rafael Cebula (CEO), Jolanda Vroegh (COO), and Kaja Sikora (CMO) of Elevate Pass convened a webinar to recite their own script; In light of Mark’s comments and recent developments and the company’s poor financial status, we wish to assure our members that the company will not shut down.
And we are neither vanishing nor hiding. We are available for you. We are okay with Mark’s resignation.
Immediately, he is no longer a member of the Elevate Pass. As the remaining founders, we appeal for your understanding and patience.
We regret to tell you that cashback withdrawals will be suspended for the next few months due to a lack of trading capital.
At the time of publication, the website domain for Elevate Pass was unavailable. SimilarWeb has observed a gradual reduction in website traffic over the previous few months. Rafael Cebula hails from a location in Europe.
After acquiring British citizenship in February, Cebula stated on May 5 that he would be departing for Thailand.
The initial collapse of Elevate Pass occurred on May 11th. Cebula is still enjoying himself in Thailand.
Before Elevate Pass, Cebula was, as expected, promoting Mark Verdellen’s Impulsx Ponzi scheme.
According to SimilarWeb’s traffic estimations, the bulk of Elevate Pass’ victims originate from the United States (10%), Brazil (9%), and Iran (8%).
It is unknown how many victims Elevate has claimed and how much they have collectively lost.