Former EU Commissioner for Health John Dalli. He was also the previous Finance and Economy Minister of Malta.
Dalli is one of the spokespersons for the QuickX Ponzi scheme, which is unsurprising.
Following an anti-fraud probe into tobacco-related bribes, Dalli (right) announced his resignation as health commissioner in 2012.
Dalli entered a not-guilty plea in the continuing case last month.
Dalli was chosen to join the QuickX Advisory Board in 2018.
Kshitij and Vaibhav Adhlakha are running the cryptocurrency Ponzi scam QuickX out of India.
2019 saw BehindMLM discover QuickX for the first time via Crypto Advice.
Ponzi scheme Crypto Advice was created around QuickX’s QCX cryptocurrency.
Jordan Lucas, CEO of Boris, served as the fraud’s spokesperson.
…but is thought to be run out of India by the Adhlakha brothers.
Crypto Advice was established as a Maltese shell business, possibly in connection with Dalli.
Another MLM cryptocurrency Ponzi that the Adhlakha brothers were proven to be running in 2021, BehindMLM reviewed Rise.
Its website has long since vanished, and Crypto Advice has folded. Although Riseoo’s website is still active, outside of Algeria, recruiting has dried up.
CoinMarketCap is no longer keeping track of the QCX cryptocurrency, which likewise seems to have fallen.
The previous Facebook page for QuickX has been taken down. By December 2021, the QuickX Twitter account had been deleted.
QuickX operates through the Maltese shell firm QuickX Limited, which links back to Dalli. Dalli is the owner of the Maltese address that was used to register QuickX.
QuickX Limited was established in 2018 but has yet to submit any annual or financial reports.
The Shift News recently reported on Dalli’s connections to QuickX. According to a story from November 6, the Malta Financial Services Authority just recently warned investors about the QuickX securities scam.
Since the beginning of 2021, The Shift News has pushed the MFSA to act on QuickX and Dalli.
The Shift has been putting months into the story. In response to inquiries addressed to the MFSA in January 2021, the Authority simply said that it was looking into the situation.
The MFSA issued a warning when things had gone too far, and many individuals had suffered as a result of the regulator’s inaction, more than a year later.
This story is all too common.
Dalli was connected to before being involved in cryptocurrency scam
a ploy to defraud Christian believers of their cash by convincing people to invest in her fictitious plan to “help small-time gold-miners in Thailand.”
Genius Capital Markets (Gen Arb), a Ponzi scam that failed in 2017, was Dalli’s first crypto fraud operation.
Dalli’s first QuickX marketing speech saw him discuss the current condition of MLM-related securities fraud laws throughout Europe.
how the use of cryptocurrency will enable individuals to transfer money without being “spied upon” by the government.
In a news release, QuickX claimed that
The firm claims that Dalli’s membership on the QuickX advisory board “…cannot be underestimated as it might allow the start-up to acquire unrivaled access to government regulators, reducing regulatory uncertainty for the company.”
You’ll have a difficult time finding token sales that have been approved by an established player at this time.
This is what distinguishes QuickX’s token sale [ICO], since it has the support of John Dalli, a former finance minister of Malta.
Maltese authorities have not taken any action against QuickX, Dalli, or the Adhlakha brothers other from issuing the MFSA’s “after the fact” warning.
BehindMLM has long bemoaned the ineffectiveness of European authorities in preventing securities fraud associated to MLM.
Although hardly shocking, the fact that a former EU Commissioner and finance minister publicly defrauded people through Ponzi schemes speaks very ill of the Maltese government.