Control Finance: Biggest Scam for now?

in control-finance •  last year

As you might know: Control Finance is gone. With over 120 million bucks this "company" was one of the biggest HYIPs. So they took millions (60, 80, 100?) with them, only a few people, mostly youtubers with a lot of referrals, did actually profit from this platform. I also lost some bucks there, but I am not whining: I knew the risk.

The one thing that astonished me is, how fast they went down. Seems to be the "new style" of HYIPs: Come in fast, leave way too early (so that it is impossible to get your seedmoney back if you do not have referrals). So more of the same: Bitlake, Thunderbit, Cointower and Bit-whatever.

But what gets me really surprised, is that Control Finance is still spamming me with "BS"-mails like today: They promise to give investors their capital back (but no earnings). Even if that is true (what I do NOT think) Control Finance made some really good money: They basically took 120m USD in an interest free loan and used it to trade bitcoin (or just hold it). And as I can imagine: Most of the investors will be happy to recieve their initial investment back and won´t sue them: Evil genius?

If I had the means and more money invested I would now think about sueing these fu***** bas*** - just to see, if it is true that you won´t get them (they must have left some trails).

Here´s the said mail:

"Hello Stupid Ogre

We would like to inform you of the urgent news. Our lawyers received information about the conditions for unlocking all trading accounts of the company. One of them is getting the necessary package of documents and license. This will allow us to restore access to our accounts and conduct our trading activities on the crypto-currency markets completely legally.
Blocking of accounts at the moment and suspension of payments is considered to be a force majeure situation. In this connection, we are forced to fulfill our obligations to clients.
This will be organized in the form of, payment of the customer's deposit (taking into account already previously paid applications for payment of profit on deposits), i.е. according to the formula:

The deposit minus the amount of all applications, for the payment of profits, is equal to the balance for payment. All payments will be made in 45 days and extend until the end of October.

The site will temporarily stop working, but all customer databases with their payment and contact details will be stored on a separate server of the company, this will make all payments to our customers.
Since November, our company will resume its work in a fully legal regime, when all necessary documents will be received and the frozen accounts of the company will be unblocked.

As general director of the company, I ask you to keep your peace of mind and wait for the payment. The first payments were already made on September 11 and will continue, until the end of October. I want to keep my honest name and the name of our company. I will prove that you can trust me and the company."

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And if they do come back, we will have to ask if they did have some legitimate legal issues that they had to take time to fix or is coming back part of a bigger scam?
In my opinion, If they wanted to prove that they were legit, they would have changed their home page with info about the refunds and how to be sure that you get yours and make it an update page instead of taking it down completely - but there could have been legal issues with even doing that.


Agree! At least one thing in the CF-mail is true: UK corporations can’t legally offer investment opportunities without Financial Conduct Authority registration - and CF did not have such a registration as far as I can tell. So they must have some legal issues (which possible lead to the exit-scam).

this is messed up! i had a feeling that this was a scam but i went in anyway because there were so many youtubers hyping it up and also showing how they withdraw. The name Benjamin Reynolds sounds so fake, i should have been more skeptical about this.