Ardu Prime, the brokerage that Freeway represented and which was crucial to its business strategy, is now acting as if it has no connection to the firm.
Yesterday, just after Freeway declared the failure of its exit scam, Ardu Prime began removing references to “Audit Prime” from its website.
Twitter user “Steve H” contacted ArduPrime for feedback on Freeway’s fictitious trading activity after Freeway failed to react to investors.
What is your current connection with the Freeway men, and will you also be releasing a statement? How much remains in these trading accounts?
In response, Ardu Prime stated:
We do not issue statements on customers’ accounts or remark on clients’ activity.
When questioned about whether Freeway and Ardu Prime are the same firms, Ardu Prime stated:
This is not the case, and Ardu has never claimed otherwise.
Ardu Prime was a failed, dormant brokerage until “Audit Prime” was created by Audit/Freeway.
AuBit Prime is a trademark owned and controlled by Ardu Prime.
Ardu Prime SA is an EU-Regulated firm that complies with MiFID II. (Hellenic Capital Market Commission License Number: 4/164/20.7.1999, FCA Reference Number: 725166, BaFin Identification Number: 10146106)
Effectively acquiring Ardu Prime allowed Freeway to get financial regulatory licenses. Freeway remained unregistered to offer securities in the areas where it was seeking investment, therefore none of these regulations applied.
This did not prevent Freeway from promoting Ardu Prime’s licenses via “legitimacy by association”
The specifics of Freeway’s acquisition of Ardu Prime were not disclosed, although the firm strongly claimed ownership.
Freeway co-founder Graham Doggart responded to a query about Freeway’s intentions for Ardu Prime in a February 2022 Q&A.
Could you explain in the simplest words possible the relationship between audit, Freeway Lite, and Ardu Prime?
Audi was the initial brand and is reflected in the company’s primary name, AuBit International, as well as the current brand, AuBit Prime.
Freeway was initially the platform’s name, and we considered it to be the AuBit Freeway platform, but our marketing research revealed that it was far more effective to eliminate the platform’s name and simply call the brand and project “Freeway.”
Ardu Prime is the brokerage that provides deposit rewards and crypto custody. It now operates under the name AuBit Prime, but will ultimately rebrand as Freeway Prime, as will all the other organizations, including the expected renaming of AuBit International to Freeway Inc.
This was all right with Ardu Prime until yesterday’s Freeway meltdown. It is anticipated that Ardu Prime will now resume its inactive state.
Almost certainly, evidence connecting the two firms has been removed.
Graham Doggart, the co-founder of Freeway, has removed his public Twitter page.
BehindMLM can further confirm that one of Freeway’s top net-winners, “Coach K,” is a crypto Ponzi schemer:
As stated previously, Coach K, also known as Joel Kovshoff, claims to have stolen about $1 million through Freeway as of early October.
Kovshoff identifies himself on LinkedIn as a resident of Bangkok, Thailand. “Coach K Capital” was established in the BVI in August 2022, through which Kovshoff presumably laundered his illicit Freeway profits.
Total Freeway investor losses are estimated to exceed $100 million. A substantial portion of it is suspected to have been stolen from American citizens.
The SEC has not registered Ardu Prime, Freeway, Graham Doggart, Coach K, or anybody else associated with the operation and promotion of Freeway.
Investors have the best chance of restitution and/or holding Freeway fraudsters accountable by filing a complaint with the SEC.
Update, October 25, 2022 – Within hours following the publication of this piece, Joel “Coach K” Kovshoff made his Twitter profile private.