According to screenshots shared by associate CEO Michel Daher, Metafi Yielders has angered the Australian Securities and Investment Commission.
Although ASIC is Australia’s top financial regulator, I originally wasn’t going to talk about this because ASIC is also a joke.
Shell corporations are frequently registered with ASIC by scammers from outside of Australia since it’s very simple to do so and there are no consequences.
With Metafi Yielders, a Ponzi scam is being fronted by a person who claims to be from Australia, although they have just received a notice instructing them to halt.
But this is where I’m going too fast.
On March 18th, 2022, Metafi Yielders was formed in Australia as MetafiYielders PTY LTD.
The corporate address for MetafiYielders PTY LTD is listed as a suburb in Western Australia, which corresponds with Daher’s alleged location in Perth (Perth is the capital city of Western Australia).
MetafiYielders PTY LTD registered with ASIC on the same day it was incorporated.
The company’s official Facebook page was taken hidden last month as part of Metafi Yielders’ exit scam.
But what should you do, Dave Kramer of the Metafi Yielders Scam? A Facebook group has a post that Daher made there yesterday that has been recorded.
ASIC sent Metafiyielders Pty Ltd a warning notice on June 9th, 2022; a copy of the letter is attached.
Our response was 100 percent compliant, and we requested the deregistration of Metafiyielders Pty Ltd.
According to the accompanying letter, which was supposedly delivered by ASIC via email on June 10th, the regulator wrote;
Hello, Mr. (censored)
Caution: usage of the ASIC logo without authorization
As the owner of the website www.metafiyielders.com, ASIC is writing to you (the Website).
The website gives a variety of investment packages along with quick returns on those investments.
As per the website:
Profits without risk on cryptocurrency investments, stakes, and transfers are available to investors, as are successful investment packages, daily returns of 1% to 3% for 30 business days, and daily returns of 1% to 3% until your net profit reaches 30% or 90%.
The ASIC name and logo are misused in the YouTube videos posted on the Metafi Yielders’ channel.
Additionally, we have heard from customers who told ASIC they had invested money with you. Of particular concern is the claim that these customers have asked for a return on their investment but are unable to retrieve their money.
ASIC continued to call for Metafi Yielders.
Immediately take down any content on the website and anywhere else online that implies you have an ASIC license to operate a financial services business there;
Remove any incorrect or misleading statements from the website, downright take it down, and stop acting deceptively or misleadingly;
Within the following 48 hours, submit a declaration of conformity to ASIC attesting to your compliance with the aforementioned standards;
Asia does not recommend any specific investments. ASIC never consents to the use of its name or logo to advertise financial services or products.
Any mentions of ASIC’s name need to be immediately deleted from any previously published online content, including the website and YouTube videos.
If there is a violation of the law or if we don’t have the written confirmation we’ve asked from you within 48 hours, ASIC may decide to take the necessary action to guarantee compliance.
ASIC may post cautionary statements about you, the Website, or both on our website and elsewhere, advising customers not to do business with you.
Additionally, we could divulge information about you to other governmental organizations and ask the domain registrar to take down the Website.
We reserve the right to take action whenever we deem it necessary, appropriate, or in the public interest, both now and in the future.
About a week ago, soon after Daher received the ASIC notification, videos from Metafi Yielders’ official YouTube account were removed.
But the fact that Metafi Yielders’ website is still up, still promotes an unlawful investment offer, and continues to falsely claim that ASIC has approved of its fraudulent investment proposal is what motivated me to write this essay.
So what is happening here?
First of all, we are aware that Michel Daher is Michael Daher’s true name.
His other moniker is Micho Nicolas. I’m not clear what the purpose of omitting the recipient of ASIC’s letter was, either he uses a different pseudonym that we are unaware of or Metafi Yielders was formed under someone else’s name.
ASIC granted Daher and Metafi Yielders 48 hours starting on June 10 to comply with its compliance requirements. This is being written on June 18th.
Because Daher has access to it, the Facebook group for Metafi Yielders was set to private. He had access to the FaceBook group since Daher had to broadcast there and provide dreadful marketing updates when he was acting as the CEO.
Daher has access to the official YouTube account of Metafi Yielders, thus videos there have been removed. Because he posted his Facebook broadcasts and other promotional videos to the YouTube channel, he has access to it.
The website of Metafi Yielders is not accessible to Michel Daher.
Whoever truly operated Metafi Yielders is in charge of the website and has always been.
Because Metafi Yielders has ended, I’m speaking in the past tense. Daher is most likely spitting bricks right now because he is an Australian citizen and is subject to ASIC’s jurisdiction.
Russian or not, Metafi Yielders’ administrators don’t seem to mind. They most likely haven’t spoken to Daher in a while. Hence the radio blackout, save for when ASIC personally contacted Daher.
Daher has presumably divulged his Metafi Yielders admin connections to ASIC and other Australian authorities to escape prosecution should it come to that.
Daher, who is thought to have family in Australia, is stuck between a rock and a hard place, or the Russians have him by the balls.
Still responsible for conducting a Ponzi scheme and for engaging in securities fraud. So to speak, financial manslaughter led to the financial murder of Boris.
Reports that Daher has left his Perth house are noteworthy. even Australia, maybe.
It’s been impossible for me to independently confirm this.
It would be interesting to see how this plays out given that ASIC is now directly engaged and that Metafi Yielders’ website is still in breach of their directives.
Shortly after this is released, I predict that the Russians will either erase the presentation that was previously mentioned. Even while ASIC may seem powerless to them, and regulatory pressure on the Boris CEO Ponzi mill is unwelcome.
Or, having vanished, they may simply leave Daher holding the bag to deal with whatever consequences ASIC imposes, which may be little considering ASIC’s appalling track record of MLM-related securities fraud.
It is unknown how much Daher was paid to front Metafi Yielders. But regardless of how much it cost, he is undoubtedly considering if it was worthwhile at this point.
The website for Metafi Yielders is not available as of June 28, 2022.