triumphfx collapse. February 16, 2020 ·. triumphfx collapse

 
 February 16, 2020 ·triumphfx collapse  Owned and operated by; Triumph Int

However, others have reported issues with withdrawals and poor customer service. TR Wallet now reflects the amount of TFX and USDT that you are currently holding. 88M token prices. 之前的ASJ的操作模式也是跟TriumphFX 一样,而且在上个月倒闭了。 爱护自己得来的钱,远离这些老千集团吧… 再者TriumphFX 被各国例如大马和新加坡列入黑名单,因为它的license 是形同虚设。Body image mentor – she is fat herself, fix that first, any ugly body, no matter how well you dress, is still ugly. pioneer in pegging 1:1 to losing 78% in less than one month. Cat Links MLM Reviews. Access to a wide array of coins across our high-touch and electronic OTC desk. In your opinion, is this a type of scam or something like bitcoin where indeed it is legal in others country and still continue to grow. Our DEX tracker is now tracking 113 networks, 813 dexes, 2. Set your own fees. This Ponzi Scheme going to collapse soon. See who you know in common. Come on TriumphFX, do better. **About TriumphFX**. Thereby, there is a note for the provider TriumphFX “carrying on the. Totally illegal, and all looking to continue scamming in Malaysia despite the financial scam collapse. Show posts by this member only | Post #2301. TriumphFX User Interface & Available Trading Platforms. Cen-Trium Review – Legit 2. Launch Control Trading Competition 2. Untuk akaun biasa , spread dengan nilai minimum 1. The minimum spread for this standard account is similar to Standard Fixed, starting from 1. FTX was a centralized cryptocurrency exchange that filed for bankruptcy protection in the U. The program is available to all our registered clients and is the first step towards expanding your existing network. Getting Started. These are from current victims themselves. The broker complies with all the requirements of the local regulator and offers attractive trading conditions for the clients. There were a dividend based investment and now they have become capital gain and capital loss Compound based investment. ltd is a registered broker-dealer specializing in private securities. Like it or not people need to adapt to change to grow otherwise they are left behind. We have strong commitment in maintaining long. To help you decide, please check out our list of Strategy Managers to get more insights into their performance and other trading characteristics. If 50% of funds are seeking to withdraw, this will take 3. well as 4 precious metals. As long as they get money, I dont care if the money coming from whose grandma in TEX (p2p). Reinvestment: I was told the minimum for reinvestment is minimum usd100, therefore they will ask u to invest minimum usd1500 (7% of usd1. Honesty I am seeing my victory coming as my prediction hardly goes wrong as this TXFI is confirm a SCAM and about to collapse / migrate to another region. Just run before it. Guys pls be reminded TFX "havent" collapse :P :P :P hold ur cigar :thumbs: They still holding on with hope, that this storm will pass. First time withdrawing a fairly bigger amount and it’s been almost 3 weeks my withdrawal has not come in. The company is 10B in size, pop up 1-1 buy back is 10m per business day, if 10% of funds are seeking to withdraw, this will take 4. This DEX pair has a 24-hour trading volume of 0 USD. 20, 2021 in companies, regulation. 1. I own a biz myself, and if I would look at this investment in a biz point of view, it gave amazing 70-80% return per annum, it’s crazy high! And yes, I have few funds, been withdraw many times and received within 5-10 working days. A French shoe brand, KLEMAN has relied on the know-how of its factory located in Anjou for more than 75 years to design its collections in a raw and authentic style. The long-running TriumphFX Ponzi scheme has collapsed. Junior Member 342 posts Joined: Aug. Sam Bankman-Fried, FTX's founder and former CEO, was charged and convicted for stealing customer. Card PM. That's the total fund size of those applying for buyback. TriumphFX provides managed funds and we are the ones winning most of the time. How many stars would you give TriumphFX? Join the 540 people who've already contributed. TriumphFx is a pioneer in community CFD-trading. 3K. TriumphFX, La Misere, Beau Vallon, Seychelles. On its inception, each TFX is worth 1 USDT, as the value of TFX is backed by the total liquidity (USD) we have with our liquidity providers. TriumphFX offers Metatrader MT4 as a sole trading platform with both desktop and mobile versions. Try. no need to attach in TriumphFX and wait for more than a year to get 100% and yet scare it will collapse. 40 USD. No other third party audit their operation. The following overseas regulators have recently included TriumphFX in their warnings below: The Securities Commission Malaysia on 13 October 2020: The Monetary Authority of Singapore on 4 Aug 2021: The Indonesia Financial Services Authority referred to the warning issued by the Satgas Waspada Investasi (Investment Alert Task Force) about. However, as a common problem for fund users, as long as the foreign exchange plate. In your opinion, is this a type of scam or something like bitcoin where indeed it is legal in others country and still continue to grow. TriumphX is down 20. 8 years. The broker does not charge fees, however, third-party funding costs may apply. To Buy TFX: Login to your TEX (Phase 2) account. The owner is. the company is doing anything and everything to address the issue, except releasing company funds to investors. Your experience matters. Here is our list of the top forex brokers in Malaysia: IG - Best overall broker, most trusted. The number of transactions in the last 24 hours on Ethereum is 208. Below is an in-depth Sign-up-Bonus review regarding this regulated Forex company,. Find out more about TU Overall Score . - On May 2022, that FAKE Rajesh Trader collapse & scam. 000000000000000000000000000000000000002938 TriumphFX (TFX) realtime price charts, trading history and info - TFX / USDT on Ethereum / Uniswap Some traders have reported positive experiences with the broker, citing its fast execution speeds and low spreads. This page contains all the. Then, click the “Login” button. The company is regulated by the Cypriot regulatory body, CySEC. ”. 8 billion loss from selling some of its investments to meet increasing withdrawal demands. Triumphfx keeps issuing new postings on facebook and Instagram to bury complaints. On its inception, each TFX is worth 1 USDT, as the value of TFX is backed by the total liquidity (USD) we have with our liquidity providers. AAFX. The current CoinMarketCap ranking is #1938, with a live market cap of $71,879. TriumphFX is an STP broker that has been providing services since 2009. Please be patient as new ways of doing. • 1 yr. A new investment would be at or above $1. 3,583. 7. TFXI processes all payment requests within two to three working days and funds will be available instantly following approval. 91K with a trading volume of $1. TriumphFX provides investors with a limited number of trading instruments, such as more than 60 pairs of the most well-liked major currency pairings on the Forex market, minor currency pairs, exotic currency pairs, gold, and silver. Date of experience: 25 October 2022. Also to those. Collaboration with us is a high-tech process of integrating each client into triumphfx. 40% in the last 24 hours. You ought to receive an instant reply to your query, if not fast. The Investor Alert List provides a list of persons who, based on information available to MAS, i) may be or may have been wrongly perceived as being licensed or in any other way authorised or regulated by MAS; ii) have made an offer of units in a business trust or collective investment scheme which may be or may have been wrongly perceived as. 00 USDT (Over par) For example, if the Fund Manager generated a trading profit of 1,000 USD, the equal value of TFX will be minted based on the current value of 2 USDT. Joined: Nov 2014. TriumphFX – Authority warning – funders are worried. TriumphFX has been banned by Indonesian authorities due to investment fraud. The highest price achieved was -USD and the lowest was -USD. Is the commodity buying programe TFXI,TriumphFX, Lately my friend invite me to join . Risk Warning: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Cryptocurrency is the future. TriumphFX is a good choice for traders from Australia. Made in France Free returns. TR Wallet now reflects the amount of TFX and USDT that you are currently holding. People call TriumphFX a scam and a pyramid Ponzi scheme due to several reasons. Our trading platform supports market, limit, stop and trailing stop orders, and you have the freedom to place orders at any time during trading hours. you. Check out Triumphfx/ TFXI facebook, Instagram, Trustpilot and Lowyat tread between October to December to appreciate the entire scam collapsing. Real fund specialists make 1% to 3% of sales commission ONCE when they sell the product to you. Trade Major, Minor, and Exotic pairs. com is one of the potential tricks. Show posts by this member. TRIUMPHFX IS A RELIABLE, SAFE & FAIR TRADING PLATFORMTriumphX Price Live Data. com does not have any. TriumphFX, a company labelled a forex scam in Malaysia and. Offering an advanced trading platform at low costs, TriumphFX is an ideal choice for both beginner and experienced traders alike. triumph already 11years still no collapse. TriumphFX offers three types of trading accounts: classic, gold, and. I have had consistent payments of profits during all months (not one month with loss). MG usually bet start min 4 digit value. (Cyprus) Limited authorized and regulated by the Cyprus Securities Exchange Commission (CySEC) under the License number 293/16. TriumphFX app may not be working for you due to some issues that your device may have or your internet connection problem. LinkedIn is the world’s largest business network, helping professionals like Michael TriumphFX discover inside connections to recommended job candidates, industry experts, and business. Yeah started 2 years back, already made back my initial. In early 2014, Singliworld started soliciting investors for its Singliforex. You execute real trades on MetaTrader 4 trading or web-based trading platforms but not on this app. As a fully regulated broker, TriumphFX must comply with the rules set by the regulators, particularly for Anti-Money Laundering and Prevention of Funding of Terrorist Activities. In recent years, China has shut roughly 6,000 peer-to-peer (P2P). 7% and the Swiss franc experienced a drop of up to 2%. The FUM of $10,000,000,000 stated is clearly misguided! This new announcement is the same as converting real money into worthless. A friend asked me the other day aggressively to invest in TriumphFX or TFXI funds with such return / promised characteristics. views aaa_batteries: Jan 16 2023, 08:15 AM. There are complaints on Facebook too, but the company deletes themThe so called fund managers aren't. They trade things like forex in MT4. TFX coin they minted price lost almost 90% and no sign for any improvement in years to come. views Don Salvatore: Sep 6 2022, 09:38 PM. This week, Fx has made its way to First on the list. Seamlessly transition to Microsoft Edge. Show posts by this member only | IPv6 | Post #4181. 80 % of retail investor accounts lose money when trading CFDs with this provider. navbar-nav for a full-height and lightweight navigation (including support for dropdowns). We also track new Ethereum pools created in real time. banana token is 16 cent, shows 822 holders, with a marketcap of 1. About TriumphFX. Accounts are now devalued due to TFX being so low (0. • 1 yr. Contact Michael directly. TRIUMPHFX IS A RELIABLE, SAFE. Learn more about this page in our Knowledge Base. It is, everyone in it knows there is something fishy (mostly in my group). Choose from hundreds of brokers and thousands of servers to trade using your MetaTrader (MT4) 4 Android app. 7. Access to the best risk transfer pricing in the market via our block and electronic OTC desk. So if dare to invest it is a big risk though big returns. Kudos Triumphfx!I had invested in Triumphfx since the pandemic begin, and thankfully it helps a lot in many ways. Behind MLM, investigative journalism against ponzi schemes. The current CoinMarketCap ranking is #1938, with a live market cap of $71,879. - On May 2022, that FAKE Rajesh Trader collapse & scam. Contact: Rick@CalBizJournal. However, any Local Bank Charges incurred by the sending bank will not be. Together, trade safely, surely. This is where FCA, the PRA, and the FPC are established. The broker complies with all the requirements of the local regulator and offers attractive trading conditions for the clients. TriumphFX (Seychelles) | 111 followers on LinkedIn. I think the legal route is the best option at this stage due to no reassurance from TFXI. Date of experience: 06 October 2023. Card PM. (it is in the DNA of the management to use this method . Before you make some false assumptions, please note that this app is just a fund management app. Lol. . 1 review. Nevertheless, fraudsters cut off communications upon receiving your money. only way they know) We can meet halfway with them with diplomacy. Show posts by this member only | IPv6 | Post #5401. Enthusiast. This means every 1 TFX you hold, it’s backed by 1 USD with our liquidity providers. Every 5 weeks i get approx 6% return, but due to the usd 25 dollar charge, i will continue to purchase invest to make it round up to USD 200 per 5 weeks. It has growth so far, and withdraw of money seems no issue. In recently recorded footage, directed at OmegaPro victims, Sims claims he’s “working right now. Between these transactions there was a total volume of 0 USD that bought and 0 USD that sold. A regulated forex broker, offers great tools and a safe environment to step up your online trading journey. When you invest 100k, and you get 7% per month, you are merely receiving your " own " money monthly for the next 14 month. TriumphX Price Live Data. Furthermore, now more and more people know the CS "Coin Settlement" Jackpot is fake now. This is annoying and frustrating in so many levels. behindmlm. triumph already 11years still no collapse. Join our. TriumphFX is a good choice for traders from India. They will show u high returns la at 6-9% every few weeks. # Triumphfx # RegulatedBroker # RegulatedForexBroker # TradeSafely # ForexRiskManagement # ForexRisk # ForexTradingForex Market Hours. My # 1 Recommended System For Earning A Full Time Income Online: Traffic? Get Tier 1 (US & Canada) traffic. If the 50,000 fund size earns 7% profit or 3500 TFX, the investor could withdraw 1000 @50,000x2% per day. According to Mr. Listed phone number is; +2484322001, and customer support email address is;. A strength is their 12 years track record and their full MT4 license, plus they deal directly with the major commercial banks as liquidity providers. The stated reason for the ban is TriumphFX does not have a permit from the CoFTRA. They do not provide any location data. 369 posts. It had been giving consistent returns every cycles and had no withdrawal issues for 10 years. At the same time, the general list of represented markets is rather small. I own a biz myself, and if I would look at this investment in a biz point of view, it gave amazing 70-80% return per annum, it’s crazy high! And yes, I have few funds, been withdraw many times and received within 5-10 working days. The company’s international division is licensed. After download is complete, launch the installer executable by double-clicking the setup program — “triumphfx4setup. Use egoogle and search for Trust Pilot Triumphfx. Recently, TriumphFX has been accused of delaying investors withdrawal. TriumphFX has headquarters in Vanuatu and Seychelles. Broker ini berdiri di bawah nama perusahaan Triumph Int. if they say coin is from erc-20, make sure you can swap into btc/eth/ usdc/usdt rightaway. FOREX. We empower traders with great tools and a safe environment. Their own cyrpto is 0% transperancy. TriumphFx sudah berdiri lebih dari 10 tahun dan pencairan selama ini tidak mengalami kendala. Junior Member 711 posts Joined: Sep 2021. Our expert assessment conducted according to TU’s own methodology showed that AAFX is one of the top brokers in the financial market with the TU Overall Score of 9. TriumphFX is a broker for active trading and copy trading on Forex. There is no certainty in the contact information available. In order to fulfill the requirements, all clients must go through the Know Your Customer (KYC) procedure when opening a new account to verify their. Finding a reputable list about TriumphFX Sign up Bonus local or worldwide can be a difficult process, especially finding a complete list from a trustworthy reputable source. We empower traders with great tools and a safe environment. (SC) Limited, they are located at: Suite 3, Global Village, Jivan’s Complex, Mont Fleuri, Seychelles La Misere, Grand’Anse Mahé, Seychelles. Just sell and get back whatever u can. They stop withdrawal by cancelling it. TriumphFX Cyprus's Linkedin Page; Toggle navigation. In Malaysia, we have TriumphFX or their spin offs EOB. bro, i think you need to re-read carefully, sup-sup sui can get 10 - 20% means the return from fx trade is high, and to get 10 - 20% is quite common. Before the collapse of capital markets such as Puton and Ogilvy, and later, there was the rise of capital markets such as Haihui, TR, and Dehui. Please be patient as new ways of doing. views gashout: Dec 14 2022, 12:01 PM. UY. If you don't feel dejavu, I feel for you. I Baru play for about half a year, mana tau this so call 10 years solid forex company gone collapse just about the time I join. :D. Date of experience: January 31, 2023. In case the Client performs a withdrawal request without any trading activity from the last deposit made or if any other form of abuse is found TriumphFx reserves the right to charge the Client the equivalent amount of any deposit fees incurred, or 3% of the total. Bonus credit will be deposited within 3 working days. Please be patient as new ways of doing. Member Since Aug 15, 2021 1 posts. Being in the financial markets where everything moves rapidly, our approach is to be rational, to make decisions that would move the company forward in a steadfast manner. Implementing PCS will help to restore confidence in Triumphfx/TFXI and mitigate any negative impact that may have been caused by the recent rapid decline in the company's reputation. you guys sound like the ppl who keep calling crypto bubble going to burst but even a 50% dip is still thousands of % above from where it started. The broker complies with all the requirements of the local regulator and offers attractive trading conditions for the clients. This is the equivalent of a securities fraud warning in other jurisdictions. TriumphFX -. . Download Canva for Windows. More Details. The token page shows information such as price, total supply, holders, transfers and social links. com or tfxi2. The long-running TriumphFX Ponzi scheme has collapsed. TriumphFX does not close and re-open positions but debits/credits trading accounts for positions held open overnight, depending on the current interest rates (LIBOR/LIBID with added mark-up). The company is regulated by the Cypriot regulatory body, CySEC. You should consider whether you understand how CFDs work and whether you can. All deposits after the approval (within promotional period ) will also receive the 20% bonus credit. Namun beberapa minggu terakhir pencairan profit ke member mulai. why 16 cent, cause there is 16 cent attached to it. Download the desktop app now!Finance, Business and Investment House Rules. 4D, if they don't pay, you can go to the authority. Updated July 4, 2018. TriumphFX is a pioneer in doing managed funds like this, at this scale. TriumphFX, kindly take action on my case and I need the money in my bank account soonest. who based on information received by MAS, may have been wrongly perceived as being licensed or regulated by MAS. In this case, only 500 TFX will be minted as your profit. Triumphfx is growing and tokenise their forex business and hybrid it with their own crypto platform which no forex broker has done before. Ponzi and Pyramid Schemes Exposed. It provides access to multiple markets with a. Enter your “Login” and “Password” as stated in the email. Please note TriumphFX does not service US and entities or residents of. The website is smooth to use. TriumphFX (TFX) Token Tracker on Etherscan shows the price of the Token $0. ltd's unique investor community to strengthen the financial stability of each of them and to obtain a stable profit without risk of losing capital. Cyprus. Read all TriumphFX pros and cons,full description of trading. ago Check out Trust Pilot for independent reviews that TriumphFX and TFXI cannot delete. beware tfx coin value will grow to 5usdt each. | Read 341-360 Reviews out of 457In Triumphfx. MG, if they don't pay, you sit quietly at home. $0. Now he told me he won't ask downline to put more money because once TriumphFX collapse he will be in deap shit. Junior Member 171 posts Joined: Sep 2021. views MUM: Jan 26 2023, 04:26 PM. I believes alot of people joined it knowing that it won't last forever, sooner or later will collapse. Withdrawal Process was Efficient. 000014 USD with a 24-hour trading volume of $201. market activities of dealing in derivatives without a license in Malaysia. A token is a representation of an on-chain or off-chain asset. triumph already 11years still no collapse. com. The company’s international division is licensed by the VFSC (Vanuatu Financial Services Commission, registration number 17901 ). Shariah-compliant, deposit from 100USD and suitable for all muslim traders. Support ticket:#485660. TriumphFX scam pays 30% of profits EVERY MONTH. Nobody is even bothered to open the ticket and reply. 100% WIN RATE IN FOREX TRADING. So your triumphfx tfx market cap 0. views c64: May 18 2022, 12:14 AM. Support for Internet Explorer ended on June 15, 2022. The broker TriumphFX focuses not on a large number of instruments provided for trading, but on high-quality execution of transactions in the Forex market. #triumphfx #scam #fakeTRIUMPH FX is actually a scam company!Watch the whole video and uncover the ugly truth yourself!Copyright (C) - Trading Forex ScamsIs the commodity buying programe TFXI,TriumphFX, Lately my friend invite me to join . In your opinion, is this a type of scam or something like bitcoin where indeed it is legal in others country and still continue to grow. Let’s retrace the events leading up to the collapse. IC Social service. 27,669 likes · 9 were here. Very Good. Reinvestment: I was told the minimum for reinvestment is minimum usd100, therefore they will ask u to invest minimum usd1500 (7% of usd1. Interest is paid on the borrowed currency and. The broker TriumphFX focuses not on a large number of instruments provided for trading, but on high-quality execution of transactions in the Forex market. KLEMAN shoes: the authentic workwear style from France. But, the truth is, TriumphFX. Your fund (USD) will be. 26,720 likes · 623 talking about this · 9 were here. In your opinion, is this a type of scam or something like bitcoin where indeed it is legal in others country and still continue to grow. On March 8, SVB announced that it needed to shore up its balance sheet and raise $2 billion in capital after booking a $1. Triumphfx has great vision and they needed to do things the way they do it to survive and grow. However, it is important to make the distinction between the two. com. TriumphFX is great! I have been using TriumphFX to copy trade for 6 months already. Trust Pilot is an independent review platform that doesn’t allow TriumphFX and TFXI to delete unfriendly comments. Is the commodity buying programe TFXI,TriumphFX, Lately my friend invite me to join . The TFX/USDT price is up by 0. Gather in 2 or 3 persons, no need to be rowdy or violent, when passersby or neighbors ask just tell them the story. Expert Pool (3%) – Generate $100,000 in downline speculation volume. Investors are extremely worried about the transition from USD to TFX. Just run before it. pioneer in pegging 1:1 to losing 78% in less than one month. My account number is 7813125. order for a broker to buy the lot for fixed or lesser price or sell the lot for fixed or better price. If we want to get the balance from multiple tokens, the first thing we need is a list of all of them. It has growth so far, and withdraw of money seems no issue. 00 or above. 00 USD, TriumphFX will reimburse the Intermediary Bank Charges up to a maximum of 70. In terms of transparency, Triumphfx provides detailed information on its website about its trading conditions and fees. What is TriumphFX Coin (TFX)? TFX is TriumphFX’s very own cryptocurrency coin. Every 5 weeks i get approx 6% return, but due to the usd 25 dollar charge, i will continue to purchase invest to make it round up to USD 200 per 5 weeks. Please note TriumphFX does not service US and entities or residents of any kind. TriumphFX's development team is always working to create new products designed to help investors make the most of their. We would like to show you a description here but the site won’t allow us. They are delaying the collapse hoping to revive the pyramid scheme by saying now is. Stay away before it is too late. 80 % of retail investor accounts lose money when trading CFDs with this provider. Existing traders refer to individuals who already have a retail trading account in TriumphFX; New traders refer to individuals who do not have a retail trading account in TriumphFX. AvaTrade - Great for beginners and copy trading. Any such postings will result in an immediate 3 day suspension of your account. I Reviewed Minelab a little while ago. 20 Oct 2023. TriumphFX is a good choice for traders from Singapore. Yes. TriumphFX claims to be owned by Triumph Int. Trust pilot is an independent review platform that doesn't allow TriumphFX or TFXI to delete unfriendly comments (unliked facebook). tfxi. In this community trading platform, there are three primary roles with different benefits: Provider: The provider offers strategies for investors to follow. teach hamsters how to understand contract. It has growth so far, and withdraw of money seems no issue. The daily buyback amount is around 10 million and everyone gets an equal chance of being selected as it’s done by random distribution. TRIUMPHFX IS A RELIABLE, SAFE & FAIR TRADING PLATFORM. We are not just a trading. Jul. TriumphFX is an STP broker that has been providing services since 2009. These features are as follows. This means every 1 TFX you hold, it’s backed by 1 USD with our liquidity providers. 20, 2021 in companies, regulation. While we welcome clients from all over the globe, governmental restrictions along with our company policies prohibit TriumphFX from opening accounts originated from the following restricted and/or OFAC sanctioned countries: Afghanistan, Botswana, Cote d'Ivoire. And from what I believe they are running triumphfx. For any deposit equivalent or above 500. 00% in the last 24 hours. Please be patient as new ways of doing things are put in place. Woohoo, tfx coin is worth USD5 now, buy more to keep and shoot to USD16K (LIKE bitcoin). The company’s international division is licensed by the VFSC (Vanuatu Financial Services Commission, registration number 17901 ). one is banana token one is tfx. One of my friend purposely take MC and annual leave just want to get the lucky draw so call coin settlement. basically example from a dividend based like ASB OR fD they have. Website ease of use and Triumph's speed in responding to any requests I have made has been great. . Still, the unavailability of a more advanced MT5 platform is probably counted among its drawbacks. Being in the financial markets where everything moves rapidly, our approach is to be rational, to make decisions that would move the company forward in a steadfast manner. HaloWaypoint. A regulated forex broker, offers great tools and a safe environment to step up your online trading journey. Guess it is all over. It has a circulating supply of. There won't be any commission fees charged, and traders can still enjoy leverage up to 1:500. That friend informed me and I received the email also. They do not provide any location data. Haitou ranking data shows that Dehui TriumphFX was established in 2009 (domestic operation time is 2019) and is headquartered in Cyprus. Finding a reputable TriumphFX review local or worldwide can be a difficult process, especially finding a complete list from a trustworthy reputable source. In the wake of the OmegaPro Ponzi collapsing, co-founder Mike Sims is attempting to distance himself from the scam.