Owner Antoun Toubia returned with The Swedish Trust in 2021 following the failure of United Capital Investments (later known as UCI Global) in 2020.
Hester, a BehindMLM reader, reported this in March 2021;
This business keeps making promises it can’t keep.
Swedish Trust is currently the name of UCI.
People have been paying money to UCI for 4 money pools for the past 2 years, but nothing has been paid out. WTF?
I quickly glanced at The Swedish Trust, noted that there was nothing MLM-related, and continued.
Since then, it has come to light that The Swedish Trust is actually a continuation of the investment scam begun with UCI Global.
Toubia (right) is thought to have millions of euros invested between UCI Global and The Swedish Trust as of late 2021.
Toubia rebounded in late 2021 to appease investors after collapsing on or around mid-2021.
The following was extracted from a Zoom call hosted by The Swedish Trust in October.
Toubia pretended to be ill and said that surgery was the cause of his disappearance when he first answered the phone.
I’m not the same person you knew before the procedure or when we ended the Zoom call(s).
My life has changed significantly as a result of surgery.
Toubia continues by blaming COVID-19 and “family troubles” for the demise of The Swedish Trust. He alleges that things were so awful that one of his team members considered suicide.
I’m not really sure what occurred. Toubia allegedly gave a man going by the name of Christian Fortune a large amount of investor monies (aka Chris Fortune).
I’m not sure if this individual is real.
Whatever the case, Fortune was entrusted with making money through trade. Toubia claims that Fortune’s trading activities generated around €625 million to be “paid out,” citing an alleged email exchange between himself and Christian.
This was in May 2021, and the payoff has not yet taken place.
As you are aware, we have had difficulties getting the money from the individual we invested in. He goes by the moniker Christian Fortune.
He was with me for more than 10 years. We’ve worked on a lot of projects together.
However, we are unsure of the reason(s) for which Christian Fortune (is) still hanging onto the money, at least for the time being.
Toubia believes he has moved on and is apparently okay with writing off the defeat.
I’m here today to start a new chapter with everyone and to lay the foundational stones for a stronger company for us. For everyone, but especially for you.
and to make amends for all of our prior transgressions.
Naturally, I accept full responsibility for everything that occurred and all of the delays. because I chose to have certain individuals in my life.
We’re not here to talk about this. I’m here to reassure you that your investment and any money you make from the pools are safe. They are certain to occur. That will occur thanks to me.
It makes no difference if I was duped. if I was defrauded. It doesn’t matter whether I was misled. I’m leaving everything behind.
And I’m going to demonstrate our new approach to you today. Our scheme.
Toubia goes on to “accept full responsibility” by attributing the failure of The Swedish Trust to the Swedish government;
There were some speculations that, umm, I’m not telling the truth and that I made up the “Yeah I cannot register you” lie.
I have no plans to omit your limited partnership in Sweden from my registration. I still have the same sincere desire to turn you become full participants in the Swedish Trust.
Unfortunately, the Swedish government is not yet prepared to register a trust business in Sweden with more than forty limited partners.
So I came up with a fix…
establishing a British Business Bureau shell corporation in the UK. The incorporation of Business Bureau Britain LTD took place on February 17, 2022.
Through a virtual office address in London, Toubia is designated as the company’s only Director. Georgia is listed as Toubia’s home country.
The establishment of shell companies in the UK is inherently fraudulent and is thus practically uncontrolled.
Toubia formed Business Bureau Britain LTD with a $2 billion USD statement of capital in order to do this.
That’s obviously bunk, but as I mentioned, the UK as a whole is uncontrolled. Any Mickey Mouse data entered will be joyfully approved by the UK government.
Toubia aims to launch his fraudulent investment scheme by issuing Business Bureau Britain shares based on this wholly fictitious statement of capital:
As a result, the company’s share price is less than one cent. Therefore, consider how many shares you will need for your investment, profit, or other purposes.
Naturally, I’m not asking you to contribute any cash. We’re only changing the X dollars we already owe you into shares.
Clearly, this is a securities offering:
The potential growth of these shares… It has a very large potential, and we anticipate annual growth of at least 100%. The worst-case scenario is this.
Naturally, neither Toubia nor Business Bureau Britain are FCA-registered companies.
Where will all the money come from then?
the same fictitious businesses Toubia promoted when he introduced The Swedish Trust.
Interestingly, the fraudulent investment scam now includes a US element:
We established a US business. That is… The US company’s information are not yet available to you because it is still in the early stages.
The American business has already registered. We are only awaiting the EIN number at this time. That figure won’t be ready for twenty to thirty days.
After that, we have been guaranteed by our American law firm that we would receive a bank account for that business.
Why did we establish a US business, then?
This business will be prepared with a full bank account by at least the middle of January. We will next proceed to the Security Exchange Commission. To be able to raise capital from the US market, we will submit an application to them.
I don’t know the name of the firm, but Toubia mentions that it was incorporated in Wyoming.
I looked up Antoun Toubia on the SEC’s Edgar database. Nothing appeared.
In any case, much more work is necessary before Toubia can legitimately approach investors in the US to raise money for The Swedish Trust. Toubia himself, the UK shell business, and that entity would first need to register with the SEC.
Creating a shell corporation is insufficient on its own.
Toubia would next have to submit certified financial papers outlining his investment opportunity and company activities (plans to generate external revenue).
The business will get incoming funding. There is no denying that.
Naturally, many may accept the deal and state, “OK Anton, you owe me… You owe me, what, $50,000 because I invested $500? Provide it to me.
Thank you; good bye. This is your portion.
It’s doubtful that Toubia would carry out his investment plan in the US given that he didn’t bother to register it with the FCA in the UK.
Securities fraud is committed when this is not done.
Toubia claims he was giving investors refunds, but as of October 2021, that is no longer an option.
Now that investors are locked in the firm, they are still waiting for the promised rewards to materialize.
It’s unknown how much money Toubia took home from United Capital Investments, UCI Global, and The Swedish Trust.
It should be obvious that the only individual to have gained any money in Antoun Toubia as we approach the sixth year after the initial United Capital Investments website domain was established.
As many victims of UCI Global’s recent investment fraud are in The Swedish Trust, so does BehindMLM’s interest in Toubia’s scheme. We’ll watch for any changes and let you know.