Beware of BuilderDefi – Review

Alan Friedland’s CompCoin fraud trial began on January 31st.

Friedland resolved the allegations after the CFTC presented its case against him for three days, which included summoning five witnesses.

The CFTC settlement reached by Friedland has yet to be formalized and authorized by the court.

Friedland, despite everything, has already swept his settlement under the rug.

Investors are raising uncomfortable questions as a result of BuilderDefi’s debut and Friedland’s CFTC settlement occurring at the same time.

One potential BuilderDefi investor said after hearing Friedland explain that the price of BLDR will vary and that losses are probable.

Listen, I’m sorry; I’m not attempting to be rude in any way. I was only recently granted access to this room, so I’m not going to attempt to be…

But, coming from someone who just mentioned twenty, maybe fifteen minutes earlier than he had just dealt with the CFTC or some court matter, and then he’s like, “Hey dude, don’t risk anything you may lose, this might vary,”

“But,” she adds, “we’re, y’know, convinced that this is going to work.” As an investor, that scares the absolute daylights out of me.

Participants in the webinar questioned Friedland on his CFTC settlement while he was talking about BuilderDefi.

There’s been some buzz regarding a recent settlement in a case made against my business and ultimately me about a highly promising blockchain project that I established in 2014.

I’m a business owner. I’ve worked in the finance sector. Because I was a proponent of cryptocurrencies, we came into some unjust regulations.

We filed and met with the regulators many times. Unfortunately, they made it difficult for us to function, and as a result, I decided to settle as part of the deal.

For the record, Friedland was charged by the CFTC with soliciting $1.6 million in CompCoin investment.

Friedland was not charged under any new legislation enacted by the CFTC. Since 1936, the Commodities Exchange Act has been in effect.

Friedland promised CompCoin investors that revenue would come via ART, an artificial intelligence trading platform.

Friedland began seeking investment in CompCoin based on ART’s “success,” omitting to mention that ART had only been evaluated in a hypothetical setting.

Friedland was ordered by the CFTC to repay $1.6 million to investors, plus interest and a civil penalty.

Friedland’s status as an entrepreneur and early crypto enthusiast has nothing to do with the case.

When NRGY first began, one of Friedland’s business partners, Duane Noble, was promoting TradeGenie.

[21:20] Our first app will be released soon; it’s an algorithm that connects to people’s TD Ameritrade accounts and automatically trades equities.

[22:14] TradeGenie will be the name of the game.

ART is said to have been rebranded as TradeGenie.

TradeGenie, on the other hand, never materialized. Details on whether it’s still part of NRGY and/or whether it’s being relaunched under BuilderDefi aren’t available yet.

Later in the two-and-a-half-hour webinar, Friedland addressed his CFTC settlement, which has yet to be authorized.

It was completely unjust. Extremely unjust.

There’s a reason why they’re called regulators. They’re attempting to regulate, to halt change, while others like me are inventing and bringing about change.

And I’m sure I’m not the first person to be assaulted… because they are attempting to bring about change in the world

At the same moment, it’s finished. I simply took care of it.

I’d had enough of battling the government. They have a lot of brilliant attorneys on their side. With the staff, they had nine lawyers.

They know how to roll with the punches. They can bulldoze humans. Okay?

And I fought with them, and I think I gained their respect in the end.

“Hey, do you want to settle?” they said in the middle of the trial.

And I was simply thinking to myself, “You know, it’s really what’s best.” It was a commercial choice.

Instead of battling with the government, I need to use the time, effort, and energy that I have in my life to produce and develop things.

It’s simply not worth it. It’s not about the money.

There’s a lot there to unpack.

Let’s start with the fact that investor losses are not a “revolutionary” “transformation,” as Friedland claims.

You aren’t some enterprising maverick if you illegally solicited $1.6 million based on a fictitious depiction of potentially created earnings that you omitted to disclose to your investors.

It makes you a con artist who is breaking the Commodity Exchange Act.

The CFTC wasn’t “attacking” Friedland when it filed a lawsuit against him; it was holding him accountable for breaching the law.

When it comes to opposing the government, Friedland was sued by the CFTC in April 2020, about two years ago.

Every step of the way, Friedland opposed the authorities. Friedland then pulled the plug after preparing for trial and spent the money on attorneys who prepared a defense for the jurors.

Before the trial, Friedland said that US authorities “messed this up horribly.”

All of that changed after that when the CFTC was given three days to present its case before a jury.

Friedland has already had a run-in with the authorities. All he had to do was sit back and wait for his attorneys to make their case.

Friedland, on the other hand, leaped at the first opportunity to settle after listening to the evidence against him for three days.

Would you drop a case that had been pending for two years and had finally reached trial if you were confident?

Friedland’s CFTC settlement contrasts sharply with the marketing bravado he’s presenting to potential BuilderDefi investors.

I get why Friedland is doing it; just admitting you broke the law and taking it on the chin isn’t enough for certain folks, but why put on this show when everything is public knowledge?

The only thing I’ve left open to speculation is why Friedland settled at the eleventh hour, mere minutes before his defense was to make his case to the jury.

Everything else is based on publicly accessible court documents.

To confuse the CFTC, I believe TradeGenie has been discreetly dropped (or temporarily shelved).

Friedland is still unregistered with the CFTC, which means the agency might file a similar complaint based on the same conduct (Art to CompCoin is what TradeGenie is to NRGY/BuilderDefi).

BuilderDefi, on the other hand, falls under the SEC’s authority because it offers a passive 5% weekly ROI chance.

BuilderDefi and Friedland aren’t registered with the SEC and don’t plan to be, according to his partners’ statements.

Instead, they’ll use a strategy known as “pseudo-compliance”:

I simply want to let you know that I’m meeting with the attorney, because otherwise, I’d say a lot of stuff, right?

A lot of things happened before we started this project, and when we met with the attorney and legal team there, they told us, “Hey, you better watch what you say.” You are not permitted to use the term investment.”

And I suppose we can’t say it because the SEC bought the word and owns it for some reason. “You can buy some coins,” you can say.

You can’t count on a return. And that’s why, even though Alan and his colleagues have developed a program that can make more than 5% every week — guess what?

We can’t say that; we have to say, “Target 5%.” Isn’t that correct?

So there are a lot of things we need to alter, and everyone in the community must use the same language.

Just to make sure that the Securities and Exchange Commission, or SEC, stays on the other side of the fence and never comes into our yard.

In terms of regulation, while what you call a passive investment opportunity may incur additional fees, providing unregistered securities is a violation of the Securities and Exchange Act in and of itself.

BuilderDefi’s weekly passive returns are 5%. Regardless of how it’s expressed, whether it’s through bitcoin or how it’s advertised, an MLM opportunity is a securities offering.

Santos Kidd, Friedland’s business partner, concluded the webinar by equating Friedland’s CFTC case to the crucifixion of Jesus Christ.

I have the power to make everyone who is bothering you vanish. I have acquaintances in (indecipherable).

On February 10th, BuilderDefi will begin accepting public funding.

Updated on April 7th, 2022 – The CompCoin fraud settlement with Alan Friedland has been authorized.

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