Financial expert: Scams like BETL are deliberately not investigated

Tens of thousands of Bulgarians invested in charging stations and their money disappeared. Financial experts Deyan Vasilev and Lyubomir Tulev commented on how the financial pyramid works with portable batteries for BETL phones.

"BETL is another manifestation of criminal groups, in this case Russian-speaking, the company is registered in London in the name of an Arab citizen. Entering the beginning of the scheme, the money is returned. There are also levels. In the end, everyone burns. These people also attracted Carlos Nassar, who was an advertising person," Vassilev said. "About $80 million from last year has been rolled over. About 60 million dollars have been returned to the people of the first, second and third levels," he explained. And he emphasized that many of those who joined knew that they were participating in a scheme and invited their friends. The expert pointed out that "Carlos Nassar needs to return every penny of this ad".

Tulev said he was asked what he thought of the BETL site last year, but even then he thought it had the potential of a pyramid scheme. He pointed out that the invested money can no longer be traced because "we are talking about crypto-currencies and crypto-transactions that are in bitcoin wallets, so there is no way they can be traced to who they are going to.

"December BETL launches a promotion - if you enter with an investment at a certain level, which you are, in practice, they say, you will receive a dividend at the higher level. This is the typical sign that it is trying to raise capital. This means that new "carps" are in a hurry to be recruited, so that those from high levels of investment can withdraw their money and exit the scheme," Tulev explained. He added that BETL had also released a request to verify user profiles and therefore they had to send $99 to the company.

"Ruza Ignatova's OneCoin still has working offices. The company in Bulgaria is not properly investigated, because it has protections from the prosecutor's office, regulatory authorities are bribed to turn a blind eye," Vassilev pointed out.

Deyan Vasilev is of the opinion that such frauds as BETL are deliberately not investigated.