Bermuda has warned Success Factory about a pyramid scheme scam.

Based on the warning from the Bermuda Police Service on April 15, the department 

has learned that the “Success Factory,” a suspected pyramid scheme, is operating on the island.

Members are only invited to join, and once they are in, they are encouraged to bring in more people.

When you make more sales, your level goes up, which gives you perks like free event tickets.

The people who run “Success Factory” also push members hard to invest in “DagCoin,” which is a worthless crypto currency.

But members may not be able to cash in their currencies for up to three years, according to reports.

Detective Superintendent Nicholas Pedro of the Serious Crime Unit said, “This plan looks a lot like a pyramid scheme.”

Yesterday, our reader “Austrian Schnitzel” found out about Bermuda’s warning, which had not been reported before.

OneCoin was a well-known Ponzi scheme, and DagCoin was a spinoff of it. Success Factory, which Igor Alberts set up and ran from the Netherlands in late 2017, was used to spread the word about the scam.

It’s not clear what’s going on with Success Factory right now. Nils Grossberg, who started DagCoin, and Kris Ress, who helped him, were both arrested in Estonia at the beginning of this month.

At around the same time, Dutch police raided the offices of Success Factory in the Netherlands on behalf of Estonian police.

Igor Alberts, the owner of the Success Factory, and his wife, Andreea Cimbala, left the Netherlands a few weeks before they were arrested and raided.

We thinks that someone with access to regulatory intelligence gave them a heads up.

Ted Nuyten helped Albert cheat people out of money through OneCoin and DagCoin.

Alberts and Nuyten’s financial deal has never been made public, but Nuyten gave a steady stream of PR for Alberts to people who could invest in him.

Nuyten did write about the Estonian DagCoin arrests, but he hasn’t written about the Success Factory raid on BusinessForHome yet.

As of the beginning of October, Alberts and Cimbala had gone to Dubai, which is the world’s MLM crime capital.

The Dutch government hasn’t said for sure if Alberts and Cimbala are facing criminal charges. People think they are criminals on the run.

At the time of publication, you could go to both Success Factory and DagCoin’s websites.

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