Elevate Pass has fallen again after recovering from the loss of its website a few months ago.

The motive this time is financial, with CFO Mark Verdellen cashing out and fleeing.

Rather from just admitting that they have exhausted their invested monies, Elevate Pass has characterized Verdellen’s departure fraud as financial incompetence.

Verdellen recited the following script while appearing in a video addressing his escape fraud and Elevate Pass running out of money:

My name is Mark Verdellen, and I’d want to update everyone on the situation at Elevate Pass.

Elevate Pass’s present financial status is dire, and I am entirely to blame.

My bad actions have resulted in the loss of the majority of the company’s money. I made those financial decisions on my own, without consulting the other founders.

When a large chunk of funds was lost months ago, I did not tell the founders. I have disguised and covered up the company’s true financial status from them, and I have opted to act alone in the aim of retrieving it.

As a result, the entire firm was jeopardized.

I sincerely apologize to the founders and members. As a result of my actions, I am resigning as CFO and member of Elevate Pass Limited effective immediately.

I am aware that the Elevate Pass may pursue legal action against me.

Mark Verdellen is a Ponzi schemer. Prior to Elevate Pass, he co-founded ImpulsX with serial con artist Darren Bradbury. Verdellen has previously promoted Fred Stege’s Elysium Capital Ponzi scam.

Elevate Pass was a straightforward 200% ROI adpack Ponzi scam.

Following Verdellen’s departure fraud, Elevate Pass ringleaders Rafael Cebula (CEO), Jolanda Vroegh (COO), and Kaja Sikora (CMO) hosted a webinar to read their own script.

Following Mark’s comments, as well as current developments and the firm’s poor financial status, we want to reassure our members that we, the founders, are not shutting the company.

And we’re not going anywhere or hiding. We are available to assist you.

Mark’s resignation is accepted. He is no longer a member of Elevate Pass as of today.

We, the (remaining) founders, appeal for your patience and understanding. We regret to tell you that cashback withdrawals will be halted for the foreseeable future due to a lack of trade funds.

Elevate Pass’ website domain was unavailable at the time of publishing. SimilarWeb has observed a continuous fall in traffic in recent months:

Rafael Cebula was born somewhere in Europe. Cebula announced his departure for Thailand on May 5th, after obtaining UK citizenship in February.

On May 11th, Elevate Pass experienced its first collapse. Cebula is still having a good time in Thailand:

Not unexpectedly, Cebula was promoting Mark Verdellen’s Impulsx Ponzi scheme prior to Elevate Pass.

According to SimilarWeb traffic estimates, the majority of Elevate Pass victims are from the United States (10%), Brazil (9%), and Iran (8%).

The total number of Elevate Pass victims and their collective losses are unknown.

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