INTRODUCTION:

Industrial espionage is a significant issue today, costing global economies an estimated $500 billion annually. This illegal practice affects various industries, including technology and defence.

In the context of the Russia-Ukraine war, cyber espionage is particularly rampant, with state-sponsored actors targeting intellectual property and trade secrets.

Industrial espionage impacts national security because sensitive information can enhance the military capabilities of adversarial nations, influencing both Russia’s war effort and Ukraine’s defence strategies.

Industrial or corporate espionage is more frequently national in nature and takes place between businesses or firms, whereas political espionage is carried out or coordinated by governments and has an international scope.

Obtaining intellectual property, such as knowledge about industrial manufacturing, concepts, methods, and formulas, can be considered a kind of industrial espionage.

Alternately, it can entail the isolation of confidential or operational data, such as pricing, sales, marketing, research and development, policies, customer datasets, potential bids, planning or marketing plans, or shifting manufacturing sites and compositions.

It might cover things like trade secret theft, bribery, blackmail, and electronic spying. In addition to private companies, governments can be the target of espionage operations.

Why am I saying all of this to you?

A few days ago, a long-kept secret about Cold War-era political and industrial espionage came to light.

The” Intering” Operation

The US prohibited the transfer of “dual-use” technology, or goods having both military and civilian uses, to the Soviet Union for many years. That was the height of the Cold War. Sanctions intensified further after the Soviet invasion of Afghanistan at the end of 1979.

By the early 1980s, the FBI knew that the Soviet Union was in dire need of US-made microchips, which at the time were transforming a wide range of digital equipment, including military systems.

Moscow spies were hard at work, pilfering or secretly acquiring such dual-purpose technologies.

It was essential for Soviet space shuttles, air defence systems, ballistic missile programmes, and electronic espionage platforms.

“Silicon Valley”

The very reason the Soviets considered infiltrating Silicon Valley was to gain as much access to this technology as possible.

Moscow spies illegally obtained thousands of pieces of Western microelectronics worth hundreds of millions of dollars in the late 1970s, according to CIA estimates.

Despite the ongoing confrontation between Russia and Ukraine, Russian intelligence services continue to search the globe for prohibited American technology.

The current sanctions have temporarily restricted, but not entirely prevented, the flow of prohibited commodities. Russia has even surreptitiously imported appliances like washing machines and refrigerators in order to remove microchips for use in military hardware, according to reports.

Almost all countries engage in this practice. The nature of industrial espionage varies for each nation.

Sabotage

But circumventing technology-focused sanctions gives US and foreign intelligence services a chance to start extremely covert sabotage operations aimed at changing critical technologies before they get to their intended target.

US covert activity in this region has a long and sordid history.

A White House initiative to penetrate Soviet supply channels for technology may have resulted in the 1982 explosion of a major oil pipeline in Siberia.

Additionally, US intelligence services have been in charge of plans to destroy North Korea’s missile capability and implant defective technology into Iran’s nuclear enrichment and missile programmes.

However, the majority of sabotage activities remain hidden from public view, and little is known about their actual mechanisms.

The US intelligence services are currently looking at ways to break into Russia’s illicit supply networks in order to halt their war machine, since relations between the two countries are at an all-time low—possibly the lowest since the 1980s.

The Austrian

In the green Cow Hollow district of San Francisco, an FBI agent named Rick Smith entered the Balboa Cafe early one morning in 1980.

He recognised a familiar face as he walked up to the bar to place his drink order—someone Smith had met a year prior.

Although the man was born in Austria, he lived in Silicon Valley and was an entrepreneur who served as a go-between for American software firms and European nations eager to acquire the latest high-tech goods.

Attempting to deal with the Soviets did not seem particularly suspicious at the time.

For instance, lawful trade between the US and the Soviet Union totalled $4.5 billion in 1979, of which $200 million was in high-tech goods.

Attempting to deal with the Soviets did not seem particularly suspicious at the time.

For instance, lawful trade between the US and the Soviet Union totalled $4.5 billion in 1979, of which $200 million was in high-tech goods.

But Smith was already “prepared” for this meeting; he had already tracked the Austrian.

Smith and the Austrian identified commonalities during their first meeting. The Austrian was a well-mannered, well-educated, and worldly man.

In addition to his native German, he was a proficient speaker of English and a keen skier.

Thus, throughout the discussion, Smith didn’t need to say much to persuade the Austrian. That evening, over cocktails, the two began formulating a plan, which they refined over several meetings in the ensuing months.

Under the FBI’s instruction, the Austrian volunteered to pose as a thief, willing to sell technology that was prohibited to the communist Eastern Bloc.

Operation Intering, a large, multi-year, transcontinental operation that had never been publicized before, was about to begin.

Moscow and its allies would receive the defective technology from the FBI and Austria.

Empty the Soviet bloc’s coffers, reveal to American counterspies exactly what technologies they are pursuing, and expose their intelligence officials and covert American accomplices.

The Soviet Bloc would unintentionally purchase millions of dollars’ worth of American items that had been tampered with by Intering. Communist spies, unaware of their deception, will receive a genuine parade in the Warsaw Pact capital as a reward for successfully securing this forbidden technology from the West.

However, as the operation gathered steam, it became riskier, risking more than just the Austrian’s life.

Cooperation, careful preparation, and a little bit of luck are necessary for double agent operations to be successful.

The Bureau initially attempted to obtain its new assets by collaborating with a few gullible Soviet officials on board.

Naturally, this was easier said than done because Soviet diplomats and intelligence spies were always on the lookout for Western spies.

The Austrian was not a trained spy, so initially he needed some guidance from his FBI supervisors.

The FBI returned the Austrians to Vienna, the main Cold War espionage hub. Both Communist and Western officials could operate in the city with a certain degree of confidence and safety because it was neutral territory.

The Austrian arranged a meeting with the Soviet embassy and got ready to pitch state-of-the-art computer and microelectronics technologies in Moscow’s Silicon Valley.

Initially, the Austrian drew little attention from the Moscow spies. Although they showed some curiosity, their main request was for secret information, which he was unable to provide.

The Austrian technology appeared to be of no interest to the Soviets, who instead gave it to their partners in the Eastern Bloc.

It was all charade, though.

The Soviets goal was to get the plan past their “allies” in the Eastern Bloc, not to obtain microelectronics or other banned technology.

Bulgarian Ties

The East Germans brought the Bulgarians, another ally from the Soviet bloc. However, American intelligence was aware that Moscow would be the final user of this prohibited technology.

Using its associated services, the KGB distanced itself from these technology transfer activities. As a result, the Russians were able to pursue other espionage targets with greater resources.

Moscow knew that Western nations did not scrutinize trade with Eastern European nations as much as with the Soviet Union.

The Austrian ties now offer a fantastic opportunity. The plan was for the Bulgarians, in collaboration with their Russian and East German allies, to acquire the banned technology, but not before the FBI took the initiative.

It took some time to get the business started, but by 1982, Intering was operating at full capacity.

It was more than the agency could handle. In collaboration with other foreign and US government organizations, technical specialists were required. To disrupt the parts en route to the Bulgarians, the FBI also needed to establish a specific location.

The key transhipment hub was London, where US officials intercepted and occasionally discreetly modified the hardware.

The operation took place across continents and nations. US officials received information from an East German electronics industry employee who was an undercover US intelligence source.

The primary route for supplies was through a technology broker based in the Netherlands.

The Bulgarians used a dummy business named INCO to import prohibited technology. One shipper’s base was in Toronto.

Cosmotrans, a crucial intermediary for the Bulgarians, owned a warehouse in Zurich, Switzerland.

In certain cases, the cargoes seemed to straddle China.

Every nation’s intelligence services were actively involved and working to the fullest extent possible.

Furthermore, the operation appeared to be a huge benefit for the Bulgarians and, implicitly, for their Soviet “overlords.”

American intelligence had no trouble determining that the Soviets had intentions beyond simply pilfering or unlawfully acquiring Western microelectronics to integrate into their military gear. Their goal was to covertly imitate the whole computer industry in the United States.

In fact, by 1981, covert agreements between Soviet and Bulgarian intelligence services allowed Bulgarian spies to get high-tech, export-banned machine tools that were required by Russian firms to produce data storage devices and other modern manufacturing products.

The FBI started providing the Bulgarians with disc drive testing equipment in 1982. Thanks to these drives, computers can now permanently store and retrieve data.

The bureau mediated an arrangement to supply hard disc coating equipment to the Eastern Bloc through an Austrian business.

Additionally, the FBI sold crucial equipment for making magnetic drives—”servowriters”—to the Bulgarians in secret. In 1983, the FBI shipped a second cargo of servo printers to the Bulgarians at a cost of a quarter of a million dollars, despite the compromise of the first shipment.

The FBI sent $3 million worth of computer equipment to the Eastern Bloc in that same year.

The FBI was in charge of numerous such shipments. They quietly altered some of the technology before the Bulgarians could obtain it.

Some are useless at all.

The Eastern Bloc received part of it in its purest form to keep things moving forward and allay any doubts.

The manufacturers of this equipment were unaware that their products were being used in a transatlantic espionage game and sold to the Eastern Bloc, likely illegally.

Spy Games

It took a lot of work to execute the internship programme; FBI agents stationed in San Francisco could not do it on their own.

The enterprise was too big, too intricate, and too delicate to oversee from one office.

It was also necessary to involve Washington. Approval was required from the Department of Justice, the Pentagon, and the White House.

However, not every Washington player agreed with this. Even though a large portion of the equipment was unapproved, Defence Department officials were worried about delivering prohibited American technology to Moscow.

The government claimed that the Pentagon frequently viewed double agent technology transfer activities with scepticism.

To the uninformed, it seemed as though the FBI was giving America’s geopolitical adversaries access to state-of-the-art technology.

Other technologies had to work if some components were compromised. There was always the danger, a genuine fear, that the operation meant to deter US rivals might unintentionally gain from the transfer of so much intact technology.

And what if some modified technology provided during the Intering wasn’t sufficiently tampered with to stop its use, as some US officials fear?

The Bureau adapted technology in various ways.

During the lengthy travel to the Eastern Bloc, several experienced what seemed to be “accidental” wear and tear.

In other instances, when Soviet Bloc agents turned on equipment, the FBI would interfere with them, causing “accidental” voltage overloads.

Subdued forms of sabotage can gradually erode machine components or microchips, or create highly sophisticated instruments that require a high degree of precision but are barely noticeable.

In each of these instances, the agency had to hope that its sabotage efforts were successful enough to genuinely stop the shipments—if not successful enough to raise red flags.

What about technology, which remains untouched?

The FBI needed to provide the Soviet Bloc with high-tech equipment. After all, the Austrian needed to supply the right items to win over his “partners” on the other side to survive.

So, what were FBI officials thinking, and what was the right proportion of modified to unmodified technology required to keep up the pretence?

These operations have always entailed additional risks, including the potential for human casualties. The intelligence service could compromise such equipment, endangering innocent lives.

Just a few of the potential consequences of a burned-out electricity grid in the wintertime include road accidents, massive fires, and people freezing to death.

In the end, the FBI came to believe that the technology was intended only for the Soviet military and intelligence services, not for use in the infrastructure of the general public.

For his part, the Austrian had to stay under wraps and continually prove his credentials to his Soviet Bloc interlocutors, all the while fulfilling his obligation to supply subpar goods on behalf of a foreign intelligence operative that was interfering.

That threat quickly became more than just a theoretical worry.

By 1983, Intering was fully operational.

Two Bulgarian intelligence operatives, who oversaw the technology transfer operation on Moscow’s behalf, were close friends with the Austrian. He received payment.

The credit for obtaining this state-of-the-art technology from the United States went to Bulgarian spies.

Bulgarian Parade

In celebration of their triumph, the Bulgarians put together a parade.

A real parade of the equipment they purchased from their Austrian service provider in San Francisco.

The FBI in London, however, tampered with the cargo. Everything was useless. “What we wanted to do was design a process, but give them fake stuff to discredit them,” Smith explained.

The Bulgarian spy, overcome with embarrassment, insisted on meeting the Austrian in Vienna.

That’s when the FBI began to receive alarm calls.

“They were furious,” Smith remarked. “They informed him that either the FBI had compromised him, leading to the alteration, or he had been involved from the outset.” He was involved right from the start.

Operatives from Bulgaria insisted that the Austrians come to Sofia for more discussions. Smith remembered that this was out of the question.

The Bulgarian side was more than just threatening empty words. It’s uncertain what actions the Austrian and his Soviet allies might take if they agreed to travel across the Iron Curtain to Sofia. Bulgaria’s adversaries faced danger even in the West; in 1978, Sofia’s agents killed a well-known dissident in the streets of London while he was carrying an umbrella with a poisoned tip.

The FBI agent no longer posed a risk to the Austrian. He was revealed.

Operation Intering successfully planted sabotaged electronics worth millions of dollars to Moscow and its allies.

However, it was now finished.

Criminal Procedures

Federal authorities in Southern California prosecuted a whole covert network of illicit technology exporters in 1983. The indicted individuals included two Californians who served as the network’s American suppliers, a Dutch collaborator, and two government officials from Bulgaria.

A few years later, there was another such indictment against illicit technology exporters.

When Californian authorities dismantled these Bulgarian technology export networks, they made no mention of interference.

There was no mention of compromised computer hardware.

There was absolutely no mention of the Austrian.

And to those who collaborated closely with him, the Austrian remained a mystery, too, as if he were some sort of phantom presence, watching over these prosecutions with invisible eyes.

Why did he accept the FBI’s offer to work undercover?

Even the bureau agents who handled the case are not fully sure why he did what he did.

Did he do this out of pure enjoyment and because, like the majority of Austrians, he despises Russians?
Operatives in the counterintelligence field are accustomed to dealing with a wide range of individuals, including mercenaries, altruists, benefactors, and honest and dishonest people.

In many ways, the Austrian served as an example.

However, FBI officials also understood that the Austrian was primarily concerned with his own objectives, which might not always coincide with the bureau’s. The FBI couldn’t track down all the foreign works from their source. That uneased them.

What if the FBI was unaware of the Austrian’s business dealings with the Bulgarians or other nations in the Eastern Bloc?

However, throughout the entire situation, the Austrian performed admirably.

He made money twice: once as an FBI asset and again as an alleged Eastern Bloc spy, selling profitable but illegal high-tech products.

The Bureau ultimately awarded the Austrian around $100,000 for his services as a US intelligence asset. To them, it was well worth the expense.

He eventually made his way back to Europe following the end of the Cold War and made a sizable fortune there in real estate.

Finally, I’d like to know who the Austrian was.

The primary objective of the STASI was to intimidate dissidents, in addition to other methods such as gathering intelligence and counterintelligence.

The Stasi not only used prisons to accomplish this, but also employed deceptive techniques known as “operational psychology.”

I recently had the chance to travel to Berlin, the capital city of spies and espionage.

And I spend a few days learning about history not only in this city but throughout the entire country of Germany by reading, listening, and studying them.

But one subject that I have discussed with you previously has caught my interest in particular: Zerstörung, or psychological warfare.

Four stages of human persecution

According to estimates, between “170,000 and 280,000 people” endured psychological and physical torture as a result of political persecution in the GDR and the Soviet occupation zone between 1945 and 1989.

Imagine that for a moment.

However, let’s examine the stages of persecution in chronological order.

Zerstörung and incarceration for political reasons

The GDR, more than any other European society before, was under constant surveillance by secret police.

Both public and private people worked with the Ministry of State Security in an unofficial capacity.

They were both spied on.

A complex web of fear, control, and mistrust developed. Those who were part of that privacy were frequently the ones doing the surveillance.

The GDR’s Ministry of State Security (MfS) uses a strategy known as “Zerstörung” to combat potential and actual adversaries before, during, after, or in place of incarceration.

Zerstörung was an entirely psychological instrument of tyranny, meant to cause uncertainty, panic, and terror while undermining people’s sense of self. According to Zersetzung, the state was superior to individuals and society.

In fact, all apparatus members were required to assist the Stasi.

Employees of the Stasi first started out in the private residence of a purported state enemy. The intended recipient needs to be initially unsettled in their own life.

Stasi agents broke into a private residence covertly multiple times, taking items out or rearranging them bit by bit until the resident started to question his sanity. They bugged entire apartments and phones.

To clarify, the purpose of bugging everyone is solely for their own amusement.

Targeted encroachment on one’s private space

The Stasi also had techniques for infiltrating intimate connections. It dealt with the breakdown of personal and familial ties.

It is best to foster mistrust by disseminating rumours, such as those concerning purported extramarital affairs.

Defamation and discrimination also contribute to the occurrence of professional failures.

Zerstörung aimed to induce chaos, immobility, and disintegration in adversary groups, and psychological unease, social seclusion, and reputational damage in individuals.

Zerstörung measures, always tailored to the unique personality structure of the individual target, addressed the relevant weaknesses of the so-called “enemies of socialism”.

Zerstörung sought to combat opposing ideologies, profoundly disrupt dissidents’ and socialist opponents’ personalities through psychological disintegration, and force a particular person to deal with himself on a continual basis.

Now you can picture the impact that had on people. The situation deteriorated to such an extent that some affected individuals chose to take their own lives.

Extra-jail Zerstörung measures frequently resulted in serious psychological harm.
For all the horror of the prison, at least the victim of political persecution knew where he was.

The Zerstörung victims endured ongoing attacks, uncertainty, and feelings of insecurity.

“Operational Psychology”

The concept of “operational psychology” laid the groundwork for the state-planned Zerstörung.

The GDR’s Ministry of State Security (MfS) employed this phrase. The state security apparatus intentionally exploited scientific methods from allied domains, including general, social, and clinical psychology.

At the Potsdam-Golm Department of Operational Psychology, senior officers studied psychological techniques.

These techniques included:

• Getting confessions while under arrest,
• Gathering intelligence both domestically and internationally.
• Acquiring informal or unofficial employees, and
• Connecting with and winning the trust of youth is crucial.

Zersetzungsmaßnahmen – Zersetzungs measures

Prior to the arrests, there was always some heightened repression.

Most arrests happened without notice. Unpredictably and abruptly, they took an unspecified number of individuals into custody.

A dark van in a cramped jail drove the arrested man around for hours until he lost his sense of direction. Then followed the dazzling brightness, the total undressing, the painstaking examination of every opening, the confusion between number and name, and the imprisonment in a sterile cell.

The use of specific interrogation techniques in conjunction with solitary confinement in the notorious state security detention facilities was the main focus.

A windowless, sound-proofed, two-by-three-meter empty cell housed the detainees in solitary confinement. Day or night, brilliant neon lights blaze.

Except for a small bed with a woolen blanket and a stinking pail, there was nothing in the cell, and there was no way to do anything.

The regulations were as follows:

• There is no interaction with the outside world.
• Only lying in bed at night,
• >Don’t talk to yourself.
• No exercise, and
• There should be no more than five steps per direction.

Hold on a moment, not even a little self-talk?

They were so afraid that they couldn’t think.

Just picture that fear.

Isolation: deliberately induced anguish and utter resignation

The guards could monitor the conduct at any moment through the door’s “spyhole.”

The prisoners had all of their senses completely cut off.

Depending on the individual’s instability, in these situations, evident symptoms can start to show up 48 hours after isolation, including a loss of sense of time and space, an inability to reason, apathy, melancholy, abrupt panic attacks, and even severe hallucinations.

In response to this event, many convicts experienced either total resignation or extreme terror.

The prison also engaged in drug manipulation.

Sometimes, questioning inmates took weeks.

This intentional seclusion was methodical.

Strict oversight measures also ensured that detainees would not encounter other detainees en route to interrogation.

Many inmates expressed that they constantly felt the need for questioning.

There was a reconciliation within the group of torturers.

The Stasi deliberately cultivated conditions of extreme powerlessness and hopelessness. Subsequently, during the persecuted personality’s investigations, this method was combined with the state’s ideological and pseudo-moral devaluations.

Furthermore, because the prisoner was eager to divulge information on other people at some point, it was assumed that they were morally tainted.

Political prisoners and other psychological torture victims frequently endured complex and unpleasant patterns of stimuli.

There were humiliations, as well as traumatic relationships with psychologically astute interrogators who were able to create a feeling of absolute hopelessness and powerlessness in prisoners.

One purposefully created uncertainty about the welfare of one’s own family or political friends.

Sexual attacks on political prisoners

After forcing a confession in this way, they were convicted and sent to the notorious prisons of the GDR. Violence, including sexual assaults on political prisoners, took place there regularly.

They frequently formed alliances with serious criminals.

Political prisoners were often at the mercy of brutal guards, who also formed coalitions with fellow prisoners.

Criminal prisoners assigned themselves to supervise political prisoners even during forced prison labour.

We can add the following to the list of hardships and agonies endured by those subjected to political persecution under the SED regime:

• Eavesdropping, monitoring, and the use of covert tactics aimed at causing unrest and destabilizing individuals are all part of the process.
• Generating a strong sense of guilt.
• State security arrested and tortured him / her in isolation.
• Separation from spouses and children, along with concern for the welfare of one’s own family, is a common occurrence.
• During their stay in the prison, inmates and/or prison staff’s assaults on their mental and physical well-being left them feeling threatened and afraid for their own lives and physical integrity.
• Being forced to work in a prison that poses a health risk and where private employees refuse to work; if the standard is not met, additional sanctions will be applied.

Release from prison in the former GDR, followed by re-traumatization

Re-traumatization can occur following a reunion, such as interactions with previous interrogators.

These various forms of stress that prisoners endure are all considered forms of psychological torture.

Psychological torture now causes just as much trauma as physical torture.

As I strolled through Berlin, I couldn’t help but sense a sense of observation and, truthfully, a sense of listening.

Well, who knows?

Chances to become a crypto or bitcoin millionaire are less than 1%.

Demand and desire are not in shortage when we see how many of us want to become millionaires, and it looks like the easiest way in the shortest period of time to become one is to invest in bitcoin or cryptocurrency.

Techopedia reports that 580 million people worldwide are investing in cryptocurrencies and bitcoins, with an encouraging percentage of these investors becoming millionaires. The remarkable figure of 88.200 millionaires represents less than 1% of the total number of investors.

To illustrate why investing in cryptocurrency or bitcoin won’t make you a millionaire, consider the reality that most people overlook: there are individuals who are adept at exploiting your money through Ponzi schemes.

This can happen when you invest in cryptocurrency or bitcoin, only to discover later that another successful businessperson has been arrested on a yacht, private jet, or is in hiding.

This narrative centres on Whiz Kid Sam Bankman-Fried, whose fraudulent activities, Ponzi schemes, and scams bear a striking resemblance to those of Ruja Ignatova, who embezzled 4.5 billion through her OneCoin cryptocurrency and bitcoin company.

About FTX

In late March 2024, a court found Sam Bankman-Fried, the creator of the cryptocurrency exchange FTX, guilty of one of the largest financial scams in US history and sentenced him.

Former cryptocurrency sensation Bankman-Fried, who was well-known for his untidy curly hair and preference for shorts and T-shirts over business attire, has joined the ranks of “reputable” celebrities and fraudsters, including Jordan Belfort, the “Wolf of Wall Street,” and Bernie Madoff, who was convicted of serious financial crimes in the US.

After his company, FTX, failed in November 2022, preventing consumers from accessing their funds, Sam Bankman-Fried, the disgraced cryptocurrency entrepreneur, received a 25-year prison sentence for embezzling billions of dollars from his clients.

But first, let’s go in order.

Sam Bankman-Fried: Who is he?

On March 5, 1992, Samuel Benjamin Bankman-Fried was born in Stanford, California. He goes as SBF. His parents are Stanford Law School professors. In 2014, he earned a bachelor’s degree in physics with a minor in mathematics from the Massachusetts Institute of Technology.

In 2013, Bankman-Fried interned at a private trading company that dealt in foreign exchange-traded funds.

Following his graduation from MIT, he went back to his full-time job.

Bankman-Fried left this position in September 2017 and relocated to Berkeley, California, where he served as Director of Development for the Centre for Effective Altruism (CEA) from October to November of the same year.

Businessman Luke Ding and millionaire computer programmer Jaan Talin provided funding for Tara Hedley and Bankman-Fried to form Alameda Research, a quantitative trading company, in November 2017.

By 2021, Bankman-Fried owned ninety percent of Alameda Research. In January 2018, Bankman-Fried set up an arbitrage trade to profit from the higher price of bitcoin in Japan compared to other countries, moving up to $25 million a day.

In late 2018, after going to a cryptocurrency conference in Macau, he relocated to Hong Kong.

Bankman-Fried and every senior employee of FTKS moved to the Bahamas in September 2021 from Hong Kong.

Bankman-Fried and other business leaders gave testimony before the Financial Services Committee on December 8, 2021, regarding cryptocurrency sector regulation.

In May 2022, news broke that Bankman-owned Emergent Fidelity Technologies Ltd. had acquired a 7.6 percent stake in Robinhood Markets.

According to a September 2022 story, Bankman-Fried’s advisors made a financial offer to support Elon Musk’s acquisition of Twitter.

Investment banker Michael Grimes stated in correspondence that Bankman-Fried would be willing to contribute up to $5 billion on April 25, 2022, according to documents made public as part of a litigation between Twitter and Musk during the Twitter acquisition.

Nevertheless, when Musk finished the transaction, there was no investment.

In addition to investing more than $500 million in venture capital firms, such as $200 million in Sequoia Capital, which is also an investor in FTKS, Bankman-Fried spent $500 million in Anthropic.

A “flawed and at times dystopian” initiative, according to reports that surfaced in July 2023, involved Bankman-Fried “buying” the island country of Nauru to serve as a bunker in the event of a cataclysmic disaster.

Bankman-Fried, known as the “crypto king,” lives the life of a billionaire, with his business headquartered in the Bahamas.

Forbes ranked him second among the world’s richest cryptobillionaires in February 2022.

His estimated wealth is 24 billion dollars, with FTX alone valued at around 32 billion. Through Alameda, FTX, and venture capital funds, he invests at least 500 million dollars in hundreds of other firms and initiatives.

He donates to both politicians and different humanitarian organisations, and everything appears to be perfect—that is, until the general public learns about the dubious origins of his cryptocurrency empire.

In addition, he regularly makes contributions to political parties and has given Joe Biden’s 2020 presidential campaign about $5 million in support.

It’s all a fraud.

FTX…CZ…WTF?

The investigation showed that Alameda Research bases its financial sheet on the FTT token, which the FTX exchange produces.

A portion of their holdings consist of salt pans and other tokens, but the connections to FTX are especially questionable and imply that the SBF empire as a whole is bloated and may even be bankrupt.

Changpeng Zhao (CZ), the CEO of Binance and owner of a sizable quantity of FTT tokens, becomes embroiled in the narrative shortly afterwards when he decides to swiftly sell off that token.

Not only has the sale begun, but panic and public mistrust of FTX are also increasing. Furthermore, the disclosure reveals that FTX invested a portion of the funds in their endeavours, a strong indication of a Ponzi scheme or other fraudulent operation.

Thus, the prophecy of insolvency becomes self-fulfilling: FTX clients start withdrawing their cash out of fear of losing them, which quickly led to this exchange becoming insolvent.

And that’s only the beginning of the story: the whole market, their token, and their assets are all worthless.

After announcing that it would acquire FTX, Binance suddenly pulls out of the deal, citing the finding of suspicious transactions and client fraud. Even FTX stops running on a regular basis.

Some now blame Binance for deliberately undermining its rival, while others note that they were aware of FTX’s operational issues. They allege that Bankman-Fried invested billions of dollars’ worth of his clients’ deposits in Alameda, and when those bets failed, he had nothing left to distribute to his clients.

Subsequently, Bankman-Fried resigned as CEO, and FTX and 130 affiliated companies declared official bankruptcy.

Authorities in the United States and the Bahamas are investigating him, and he allegedly attempted to escape to one of the nations from which he was not eligible for extradition.

Investors who bought cryptocurrency through FTX remain uncertain about the existence of their money, and whether they will ever see their investments in digital wallets within that firm.

Experts believe that one to two billion dollars have disappeared, and it’s likely that the majority of the ten billion dollars secretly transferred to the Alameda business also vanished.

Clinton, Blair, and Katy Perry are next in line

He became something of an industry spokesperson for the whole cryptocurrency space, showing up side by side in shorts and baggy t-shirts with Bill Clinton, Tony Blair, Gisele Bundchen, and Katy Perry at the very moment the business was starting to take off.

The fact that Bankman-Fried appeared to shun the level of extravagance his wealth permitted added to his mystery. He drove an outdated Toyota Corolla; he didn’t own a yacht.

“In a strange way, he seemed like a grown man in the crypto world.”

Trial

Two different accounts developed during the course of the trial, which lasted four weeks, two different accounts developed. In one case, the previous mogul was an intelligent but foolish specialist whose oversights as CEO caused massive scams to occur right in front of him.

With the assistance of former members of his inner circle, Bankman-Fried quickly embezzled billions of dollars from clients, believing he would remain undetected.

Both accounts show how closely the reputation of FTX’s creator, whose magnetic personality drew billionaire investors, former presidents, and famous people into his orbit, contributed to the company’s success.

Throughout the Manhattan trial, Bankman-Fried’s attorneys portrayed their client as a math nerd who was crushed by his expanding enterprise.

At the podium, now dressed in a suit and sporting short hair, Bankman-Fried assigned some of the blame to Ellison, who entered a guilty plea to fraud, for not following his directive to “protect” the shareholding and, thus, Alameda from a market slump.

The prosecution, on the other hand, painted Bankman-Fried as a person whose conceit and unbridled desire combined to cause him to defraud his business.

 

“He thought there was a 5% chance he would one day become President of the United States.”

 

The phrase “the defendant gambled with clients’ money” kept coming up.

Former members of Bankman-Fried’s close circle, such as Ellison, the CEO of Alameda, and his childhood friend Nishad Singh, who was Bankman-Fried’s younger brother’s childhood pal, all contributed to his defeat in court.

They stated in court that Bankman-Fried led them into fraud and set up connections between Alameda and FTX so he could use FTX as his personal piggy bank, all the while vowing to safeguard client cash and clean up the cryptocurrency sector.

His rise was propelled by money.

Along with helping to pay off Alameda’s enormous debts, he also made real estate investments, stock market investments worth billions, and political contributions totalling almost $100 million.

Ellison asserted that he staged his physical appearance, viewing his inexpensive automobile and dishevelled haircut as “good for his image,” as they gave him a more genuine aspect than the average stockbroker. But Ellison contended that his modest demeanour concealed his tremendous ambition.

“He thought there was a 5% chance he would one day become President of the United States.”.

Who knows? Maybe he will become one someday—power, money, and politics are all intertwined, right?

Once upon a time…

This is how every fairy tale starts: once upon a time, there was a Prince, 7 dwarfs, unicorn and happy ending.

And here is the story of a fake Prince who lived and still lives in our day; he pretended to be king for years, but was finally revealed and sentenced…

This is the tale of Anthony Gignac’s exposure as a fake Saudi Prince.

Who is Anthony Gignac, also known as ace “Prince Khalid”?

Anthony Enrique Gignac (José Moreno) was born in Colombia in 1970. Anthony and his younger brother, Daniel, were born in Colombia and orphaned at a young age.

Gignac’s rough childhood and his forced job as a carer for his brother have been considered contributing factors to his subsequent criminality.

In 1977, at the age of six, the United States adopted Gignac and his brother.

Criminal life

Gignac began impersonating royalty at the age of 12, convincing a salesman at a Mercedes dealership to let him test drive a car by claiming to be the son of a Saudi Prince.

Consider a twelve-year-old boy as an example. He didn’t stop at these con games, though.

Using the identity “Prince Adnan Khashoggi” at first and then “Prince Al Saud” later, Gignac has been detained eleven times since 1988 for scams in which he pretended to be a member of Saudi or Middle Eastern royalty.

The LA Times dubbed him the “Prince of Fraud” in 1991 after a scam that resulted in a two-year prison sentence and involved him falsely accruing large hotel and limousine bills while claiming that members of the Saudi royal family would pay them.

Throughout the 1990s and the beginning of the 2000s, Gignac persisted in committing similar frauds, running up debts totalling tens of thousands of US dollars and forcing costly “gifts” out of victims under the pretence of making advantageous transactions in the future.

Under the guise of the real Prince Al Saud, he was able to persuade American Express to issue him a platinum card with a $200 million credit limit once, claiming that his old card had been lost and that refusing to give him a new one would infuriate his putative father, the King.

I wonder, along with you, how this is possible.

In 2003, authorities detained Gignac for allegedly attempting to charge $29,000 in department store fees to the account of the real Prince Al Saud. In 2006, the court found him guilty and sentenced him to 77 months in prison.

Gignac admitted during his interrogation that he had an illicit gay encounter with a real Saudi Prince and that the royal family had offered him a real line of credit as hush money.

In 2015, Gignac founded Marden Williamson International in collaboration with Carl Marden Williamson, a North Carolina business partner.

Gignac used the company to raise money for a number of fictitious foreign investment opportunities, including an alleged Saudi corporate private offering.

In 2017, Gignac contacted billionaire Jeffrey Soffer with the intention of purchasing a $440 million holding in the Fontainebleau Hotel.

At first, Soffer accepted Gignac’s deceit, giving him flights in his private jet and spending more than $50,000 on jewellery as gifts to gain the so-called Prince’s favour.

But after witnessing the alleged Muslim Prince order pork at a restaurant, Soffer started to have doubts about Gignac. He then hired a private security company to look into Gignac, which eventually revealed his true identity and resulted in his imprisonment.

The fact that the truth always finds a way to surface and cannot be suppressed—as we all know—meant that “Prince Khalid” could have known his mask would be blown.

A charade in Aspen

In the foyer of the St. Regis hotel in Aspen, “Prince Khalid” bin al-Saud was having a violent tantrum, screaming and cursing about a transgression against him: disrespect.

He cried out, “You have insulted my honor!” “My father, the king, is going to be furious!” You don’t conduct business with royalty in this manner!

This reminds me of a scene from a movie. Allow me to pause for a second.

The Prince, the son of the Saudi king, was accustomed to receiving respect.

A few days prior, he had arrived in Aspen on billionaire Jeffrey Soffer’s private plane, with the intention of selling him thirty percent of the renowned Fontainebleau hotel in Miami Beach for $440 million.

Now, with Foxy, his diamond-encrusted Chihuahua, by his side, the Prince was growling at Soffer’s emissaries and threatening to sue them for their arrogance.

There was an apparent reason for the outburst.

Soffer’s team was about to reveal the Prince’s secret—that he was not actually a member of the Saudi royal family.

He was not even a king.

He was a serial con artist, whose true name was Anthony Enrique Gignac. He was a Colombian orphan, adopted by a Michigan family, and had embarked on an extraordinary 30-year ruse.

Pork discovered him

Sofer and his family became suspicious of Gignac after seeing him purchase prosciutto at a restaurant, as pork is forbidden to Muslims.

Muslims do not consume pork.

The next major red light came when Gignac misled Soffer’s staff into believing he controlled the entire structure, including all 54 luxury units, in the exclusive 216-acre Miami enclave.

However, a Miami insider informed Gignac that Soffer’s team was interested in his Miami holdings.

Gignac must have realised he was in trouble. If they discover he rents one unit and does not own the complex, he lied.

The gift

Gignac, aware of the potential for exposure, intensified the deception. He threatened to withdraw from the agreed-upon investment, claiming that if they wanted to reset everything and keep him in the game, they needed to give him a gift.

Imagine how much courage, or, to use a harsher term, “the balls.” one would need to continue playing this game.

The Prince frequently clarified that lavish gifts were a token of respect and a component of the Middle Eastern negotiation process.

Soffer had already gifted him pricey artwork, a $5,000 dog collar set with diamonds, and other mementoes for Foxy.

His Highness now desired a more expensive item. “It must be $50,000 or more.”

Over lunch the following day, Soffer and his group gave the Prince a $50,000 Cartier bracelet.

Gignac answered with his gift in hand, sharpening his deceit even more.

The insider asserts, “He either receives a phone call or pretends to receive one.” Then, in an odd code, he says something like ‘Zulu Red Echo 33.’ He then informs the entire table, “That was the State Department, and they are checking on me.”

Because I wear a computer chip around my neck, they always know where I am.

His manager then adds, “I also have a chip in my neck.” Carl then asks, “See that guy right there?” pointing to an unidentified patron of the eatery. The Secret Service employs him.

Because of the peculiar nature of all the transactions, Soffer’s team began to believe that he was involved in a scam.

Consequently, they assembled a team under the leadership of former federal agent Page, who carried out an investigation and revealed that Gignac’s claimed diplomatic status was false.

Agent Page received the response, “No.!” in just two words when he contacted a buddy who is a member of the Saudi royal family to find out if Gignac was truly a Prince.

On Google, Page also looked up the diplomatic license plate on Gignac’s Ferrari. He claims to have received a pop-up advertisement encouraging him to purchase the exact licence plate on eBay for $79, which is indeed where Gignac had found it.

According to the findings of Page and his study team, Gignac “truly thought he was this persona that he made up.”

1. The initial step in the scam was to associate with influential individuals.

2. That made it easier for the scam to swindle investors out of their money in the second part.

To assert his closeness to the Soffer family, he made an effort to establish a rapport with them. When he meets with potential investors, it gives him legitimacy.

Rotten teeth and hair

They initiated an inquiry after composing a comprehensive report and delivering it to the FBI and the prosecutor.

After presenting the case to two operatives, they immediately recognized the scraggly-toothed Prince with the bowl haircut as a fake.

“What really gave him away were his teeth,” he says, “because Saudi Arabians and other Middle Eastern royalty take good care of their teeth.”

In this instance, it is quite odd and astounding how one individual was able to trick people for such a long time.

Not only did common people entrust him with their life resources for fictitious investments, but multimillionaires and accomplished businessmen, who are accustomed to undertaking substantial tasks and possess teams to manage all their investments, also trusted him.

Agents found that Gignac was travelling on someone else’s passport in addition to pretending to be a diplomat—a charge for which he had been arrested in Michigan in 2003.

They began following him on his circuitous journey from Dubai to Hong Kong to London, and when he arrived at John F. Kennedy International Airport with a substantial sum of cash in his possession last year, they took him into custody.

Gignac was remarkable to those who investigated and prosecuted him for his ability to fully assume the Princely role. Jordan remarks, “The guy is a master with people.”” He fulfills the role, whatever it may be at that particular time.

Approximately half of the pricey jewellery Gignac was flaunting on Instagram turned out to be phoney, the agents found. In order to maintain appearances, he frequently purchased the cheapest Rolexes available and had a jeweller sell them cheap diamonds.

Under various guises, he rented or borrowed expensive automobiles and yachts, which he eventually said he was “tired” of when they vanished.

One component of Gignac’s con even pleased the Diplomatic Security Service agents.

A child, who appeared to be around nine or ten years old, approached one of them while they were carrying out the search warrant on his Fisher Island condo. He questioned, “Are you a D.S.S. agent?”

The agent was surprised; most individuals had never heard of the D.S.S. “How did you know that?” he insisted.

“Oh,” the boy replied. “The prince living up there has D.S.S. agents.”

The prince had given his personal bodyguards phoney Diplomatic Security Service credentials to pin on their lapels. “We looked at Gignac’s counterfeit badges,” a source told me, “And they looked better than the real thing.”

Epilogue

Anthony Enrique Gignac is a convicted fraudster and scam artist. Over a 30-year career, Gignac employed affluent, high-ranking personas, most notably Saudi Prince Khalid bin Al Saud, to fraudulently gain funding in a succession of schemes, presenting them as supported by a huge personal fortune.

After defrauding investors of $8.1 million, Gignac was arrested in 2017 after billionaire Jeffery Soffer, the owner of the Fontainebleau Hotel (in which Gignac had falsely claimed to be investing), became suspicious of the alleged Muslim Prince ordering pork at a restaurant.

He was imprisoned for more than 18 years in 2019.

How easy it is to deceive people; how readily we take things for granted and fail to think or ask questions; how easily we believe what we see on social media…

How naive are we?

2009 was one of the most anticipated court proceedings in US history, as no one could believe that someone could accumulate a loss of $50 billion by lying, cheating, creating Ponzi schemes and engaging in fraudulent activities.

His name is Bernard Madoff, and he managed money not only from the rich and famous but mostly from ordinary, hard-working people who trusted him. At the end, all Bernard Madoff said was, “I cannot adequately express how sorry I am for what I have done,” and the rest is history.

However, Bernard Madoff just started a new trend: how do you attract people to invest their hard-earned money? The next person on the scene was Sam Bankman-Fried, the former CEO of the bankrupt cryptocurrency exchange FTX, who lost $8 billion of investors’ money. Prior to this, he was regarded as a rising star who appeared on TV shows and spoke on panels, building his amazing reputation on the money of hard-working people.

The question to be asked is: how or by whom did you influence someone to be your financial or business guru?!

Guru: Hypocrite or not?

A few days ago, during a conversation about business, finance, and wise investing with a friend, he mentioned having read Robert Kiyosaki’s book Rich Dad, Poor Dad. Naturally, the question arose: have I also read that book?

To be honest, I haven’t read the book. However, while working on my podcast show or conducting research, I came across numerous chapters and quotes from the book, which piqued my interest even more. I will share my thoughts on this topic with you.

The credibility of Kiyosaki’s work piqued my interest, so I asked Holly Grail of Knowledge, “Dr. Google,” Who is Robert Kiyosaki?

On top of the page is the link to the article with the following title: “Rich Dad, Poor Dad’s“ Robert Kiyosaki Says He’s $1.2 Billion In Debt Because “If I Go Bust, The Bank Goes bust. Not My Problem”.

In the case of Robert Kiyosaki, a man who coaches, teaches, and mentors others on how to achieve wealth and success, I would consider this statement to be quite normal, given that his primary focus is on achieving financial success for himself and by becoming Your Financial Guru.

After all, people who place their trust in individuals like Kiyosaki indirectly support the lifestyles of gurus, coaches, and the like.

Who is Robert Kiyosaki?

For those who haven’t heard of or know Robert Kiyosaki, he is an American businessman and author, best known for his Rich Dad, Poor Dad series of personal finance books.

He founded Rich Dad Company, a private financial education company that teaches people about finance and business through books and videos.

His company, Rich Global LLC, declared bankruptcy in 2012.

And now we get to the intriguing part: how did someone who should be teaching us, a “guru” on finance, bring his companies to bankruptcy?

In 1947, Kiyosaki was born in Hawaii. During the Vietnam War, as a Navy officer and helicopter pilot, he gained experience in troop leadership. After that, in 1977, he worked for Xerox to gain experience in sales.

Kiyosaki founded “Rippers” in 1977 to sell wallets made of nylon and Velcro. When the business officially failed, he accepted a position as a sales associate with Xerox, where he worked until June 1978.

In 1993, Kiyosaki released his first book, If You Want to Be Rich and Happy, Don’t Go to School. In his book, he encouraged parents to start their kids in real estate instead of sending them to college.

Kiyosaki established Cashflow Technologies, Inc., a holding company, to own and operate the Rich Dad and Cashflow brands in 1997. To teach people about business and finance, Kiyosaki designed the Cashflow board and software games.

The company “Rich Global LLC,” owned by Kiyosaki, declared bankruptcy in 2012.

Kiyosaki is the author of over 26 books, including Rich Dad, Poor Dad, which has sold over 41 million copies worldwide and been translated into 51 languages.

He became well-known after Rich Dad, Poor Dad reached the top of the New York Times bestseller list and sold over 41 million copies globally.

Forbes estimates that Kiyosaki is worth about $100 million and has a number of businesses that he either fully owns, formerly owns, or partially owns through franchisees; however, Robert Kiyosaki stated in his interview on YouTube, “No one knows how much he is worth,” and that is true; it’s a pure guess by all of us.

How everything started

Kiyosaki’s career took off in 1985 when he co-founded the Excelerated Learning Institute, an educational firm that offered courses on social responsibility, investing, and entrepreneurship.

Because of the company’s success, Kiyosaki was able to begin investing in real estate. He sold the business in 1994 and went on to write his first book, “If You Want to Be Rich and Happy, Don’t Go to School.”

This is where we should stop.

For me, this raised a red flag: Sure, there are plenty of ways to get rich, but writing that you do not attend school?

So did he go first? Needless to say, the world stage is full of coaches, gurus, and many others who advocate “don’t go to school.”

If you don’t go to school, then you can’t question those gurus because what the guru says must be true, even if it is just an opinion, because of what the coach and guru say. I

It doesn’t work that way and never will; education is an important part of everybody’s life!

Who was this book intended for?

When Kiyosaki founded Cash Flow Technologies, Inc. in 1997, he took the next significant step towards success. The company is a financial institute that provides personal finance services and educational advice.

Kiyosaki made significant strides this year, publishing his most well-known book, Rich Dad, Poor Dad, and launching the entire Rich Dad brand around its success.

In addition to book profits, Kiyosaki has made a lot of money from seminars held by professionals under the Rich Dad brand. These seminars have been a significant source of income for the business and can cost tens of thousands of dollars.

Apart from this, real estate investing has contributed significantly to Kiyosaki’s riches.

In 1973, he made his first real estate venture in Hawaii. He currently enjoys a passive income from his ownership of approximately 7,000 properties; however, in his interview on VladTV’s YouTube channel,stated he ownes 12,000 properties.

How did his companies go bankrupt, even with all his knowledge?

Bankruptcy of the Rippers.

In 1977, Kiyosaki founded Rippers, a business that marketed wallets in the style of surfer dudes made of nylon and Velcro.

These wallets were the first of their kind and had a unique concept. Due to fierce competition from outside, this company ultimately went bankrupt, so Kiyosaki decided to choose a different route.

The Velcro Wallet Company goes bankrupt.

Kiyosaki attempted to collaborate with the rival business to try to accomplish his objective. This led to the company filing for bankruptcy.

Rich Global LLC goes bankrupt.

On August 7, 2012, Rich Global LLC filed for bankruptcy. Learning Annexe forced the business to pay over $24 million, but they lacked the necessary funds to do so.

According to reports, Kiyosaki and the Learning Annexeee had an agreement whereby Kiyosaki would give the Learning Annexeee a portion of the money he made from speaking engagements in exchange for the Learning Annexeee booking him for book marketing.

It is believed that Kiyosaki neglected to pay these sums to the Learning Annexe.

I pose the same query once more: Is Robert Kiyosaki a scammer?

Regarding Kiyosaki’s fraud status, rumours have been circulating ever since his company filed for bankruptcy.

Despite the company’s collapse, Kiyosaki’s personal finances appeared to be unaffected, and he has maintained his large net worth, raising questions about whether or not he is a fraud.

Other than his bankruptcy, some have raised concerns about Kiyosaki’s financial success. These include statements made in his book that some have disputed as untrue.

According to Forbes, there is no record of Kiyosaki’s money creation before he became wealthy through the book Rich Dad, Poor Dad. This has led some to question the book’s authenticity as fiction or non-fiction.

Recently, I’ve noticed an increase in the number of so-called gurus—online experts who use social media to provide life and business advice—and upon deeper inspection, we find that these individuals lack any references.

In past podcast episodes, I’ve discussed several influencers and gurus; they turned out to be scammers despite being two of the most well-known gurus.

While I know many of you will disagree with my findings, this podcast is about helping each other, sharing knowledge, and discussing facts, not opinions, to save you from facing any obstacles and fighting unnecessary battles.

Ultimately, we cannot definitively determine whether Robert Kiyosaki is telling the truth or lying. However, it’s important to note that since the publication of his book in 1997, nearly 30 years ago, numerous financial landscapes, laws, and legislation have changed. Therefore, attempting to profit from a fictional book from 1997 in today’s business and financial market would be incorrect.

Robert Kiyosaki has built his firm on providing sound advice on business and wealth creation, but his own companies haven’t always remained financially stable. On the contrary, he is proud to be in debt of $1.2 billion, but that is not his fault; it is the financial institutions who gave him money. But again, Robert Kiyosaki stated that he has 12,000 properties, so banks will take those properties as collateral.

However, fraud in the sale of courses—that is, knowledge—piqued my curiosity.

What is the scam about Rich Dad’s education?

The purported fraud surrounding Robert Kiyosaki’s educational seminars and courses is predicated on both the cost and the course material.

This is a complimentary, one-day educational conference that offers insightful commentary and guidance before the course.

The attendees then receive a three-day workshop, which costs about $500 and appears to offer fewer insights, more advertising, and an incentive to enrol in the next course.

The next step is a course that costs a whopping $45,000 or more. The course aims to provide attendees with valuable education and financial strategies for wealth creation.

I understand you’re asking if Kusr’s money was typographical, but no.

I believe it is reasonable to charge for the course.

But it’s crucial to charge fairly for your services. $450 might make sense if you’re aiming to help someone become wealthy and valuable.

However, how is $45,000 appropriate for any course on personal finance?

Participants in this course report that the instructors aggressively promote additional courses, but the advice hasn’t resulted in any significant financial success for them.

We haven’t yet proven whether Kiyosaki’s educational courses are a scam or not.

The Critics

Critics have questioned Kiyosaki’s educational courses and philosophical beliefs’ morality and legality.

Critics have pointed to Kiyosaki’s ambiguous counsel, which hasn’t helped anyone actually become wealthy.

Furthermore, he has been accused of running a fake educational program with the sole purpose of inducing participants to pay more money for the next course.

It truly disturbs me to witness individuals who are essentially victims trying to earn money. I find it challenging to understand how people can think that a single book or course can generate money overnight.

Like Kiyosaki, hundreds or thousands of others do the same!

There is no reason to spend hundreds of dollars on courses; simply earn, save, get out of debt, and invest.

Couldn’t it be simpler?

And yes, not everything you see on social media is real and true.

Following the assassination attempt on US presidential candidate Donald Trump on Monday, Bitcoin jumped to a two-week high.

After reaching a two-week high of $62,698, bitcoin increased by 8.6% to $62,508, bringing its year-to-date gain to 47%. Moreover, etherium rose 6.8% to $3,322.
Why am I saying all of this to you?

Cryptocurrencies are sure to play a significant role in both our personal and professional lives. The belief that it is “easy and quick money” draws everyone to this sector, which is still undiscovered but very alluring.

That’s also where a trap catches him.

He was referring to a large-scale swindle and a Ponzi scheme using cryptocurrency and he was considered to be one of most known Instagram influencers.

“More than half (55 per cent) of Instagram influencers were involved in some form of social media fraud and fakery in 2020, despite an eight-percentage point decrease from 2019. A new study by HypeAuditor also found 45 per cent of Instagram accounts were fake (PR Week, 15 April 2021).”

Do you know Jay Mazini?

If cryptocurrencies pique your interest, you’ve probably heard about them or seen them mentioned on social media.

Former Instagram influencer “Jay Mazzini,” Jebara Igbara, 28, of New Jersey, entered a guilty plea to fraud charges after acknowledging that he designed a Ponzi scheme with cryptocurrency schemes totalling almost $8 million.

The COVID-19 pandemic’s economic chaos provided Jebara with the opportunity to launch his Instagram account, Jay Mazini.

He then used his connections in the Muslim community to raise money for his company, Hallal Capital LLC, promising to earn a return on stocks and resale of electronics and personal protective equipment.

The fact that Jebara specifically targeted his own religious community is unique and somewhat awful

He wasted and gambled with their hard-earned money, taking advantage of their faith in him.

As he made connections with wealthy local investors, Igbara expanded his online presence and amassed almost a million Instagram followers.

Every now and then I pause to ask myself, “How is it possible that people believe all that?”

To what extent is reality “easy money”?

However, after thinking, reading, and hearing about people’s experiences on a daily basis, I’ve come to the conclusion that everyone wants to get wealthy quickly and easily.

Jebara filmed cash gifts, which helped him achieve popularity.

He frequently gave large amounts of cash to regular Walmart customers or employees at fast-food restaurants.

Is that something you can envision? As you can observe, someone distributes money in that manner.

Now hold on. Have you ever wondered how he managed to amass so much wealth and how he was able to give it away in that manner?

Did his Instagram followers truly believe that someone could get that wealthy so quickly?

Of course, the fact that he shared money with rapper 50 Cent in at least one video helped make him famous.

In actuality, Jebara conned investors out of at least $8 million through multiple fraud schemes.

How was the con executed?

Jebara used a business named Halal Capital LLC to conduct an investment fraud scam.

The plan asked for money from the Muslim-American community in New York for purported stock investments, electronics resale, and personal protective equipment sales.

But in reality, Jebara was the mastermind behind the Ponzi scam, embezzling nearly all of the funds for his own use, opulent cars, and gambling.

Igbara also carried out another fraudulent scam, announcing on his Instagram and other social media accounts that he was willing to pay more than the market price for various cryptocurrencies in order to gather money to pay his investors a “return” and keep them on the hook.

After that, he would allegedly give his victims fictitious pictures of bank transfer receipts, proving that he had sent the promised cryptocurrency money.

In reality, Igbara was only stealing the bitcoin his victim had sent, and the payment had never taken place.

As I already stated, his actions were shameful.

He specifically targeted members of his own religious community, preying on their confidence in him to fritter and squander away their hard-earned cash.

By 2020, he had alienated investors and internet fans who publicly accused him of being a scammer.

They also applauded his arrest in 2021 on suspicion of kidnapping.

Jebara acknowledged kidnapping a possible witness to his frauds in a different case.
Numerous of his victims have come forward to the FBI, according to court filings.

Under the pretence of a cash wire transfer, at least four people confessed to FBI agents that they had sent over $100,000 in bitcoins.
One victim claimed to have lost 50 bitcoins after Jebara first claimed to be sending $2.56 million by wire transfer and then provided an explanation for why the payments didn’t occur.

Prior to his sentence on Wednesday in federal court in Brooklyn, Jebara spoke to the guys he had abducted and expressed his sincere regret to them.

Jebara serves his five-year jail term for kidnapping concurrently with his seven-year sentence for fraud in 2021.

As part of his sentence, Jebara had to pay $10 million to his victims.

As I stated at the outset, cryptocurrencies are our future, and that future has already begun.

Without information, education, and trust, success is never simple or fast.

To begin, let us ask: What does the term “influencer” mean?

To find the solution, we will need to consult and ask our dictionaries and definition of influencer is as follows:

“Someone who influences or changes the way other people behave.”

“A person who is able to generate interest in something (such as a consumer product) by posting about it on social media.”

Which answer do you have?

These days, influencers could be anyone. Literally anyone.

But I’m really at a loss for words after reading and researching the other day about Leonardo DiCaprio Partygoer Kat Torres Instagram influencers and needless to say I wasn’t surprised that another influencer is jailed.

“An Instagram influencer has been jailed for slavery and trafficking”

Influencer Kat Torres received an eight-year prison sentence after a jury found her guilty of enslaving one woman and trafficking in people.

We also confirmed that she was facing charges related to another woman.

Kat Torres: Who is she?

The last few days have seen a surge in the popularity of Kat Torres, a former Brazilian model who dazzled on magazine covers, hung out with A-list celebrities, and even went out to parties with Leonardo DiCaprio.

Before moving to America to achieve her goal, she lived in poverty. She made almost the same amount of money from writing her story.

Despite having millions of fans, celebrity adoration, and abundant wealth, her dark secret was now public knowledge.

So, let’s move in order.

According to the BBC, two years ago, in September, two young girls from Brazil vanished. Their relatives and the FBI launched a desperate search based on the one clue they had: they lived with wellness influencer Kat Torres.

The girl, Ana, who was also her victim and played a crucial role in the court proceedings, narrated the entire tale.

False promises

Ana discovered Torres on Instagram in 2017 and said she was fascinated by Torres’ challenging path from a destitute Brazilian girl to partying with Hollywood celebs.

“She kind of gave me hope.” She looked to have overcome childhood assault, abuse, and other terrible experiences.

She then appeared on magazine covers and partied with celebrities such as Leonardo DiCaprio. “Everything I saw seemed believable,” said Ana, who also had a traumatic background and relationships, so she identified with Torres and desired change.

Biography: “A Voz (The Voice)”

In her new biography, “A Voz (The Voice),” Torres asserted that her spiritual talent enabled her to foretell events, and her attitude towards spirituality also won over and inspired Ana.

Ana had no idea at the time that Torres was telling a story full of half-truths and lies.

Torres’ old roommate, Luzer Twersky, admitted that her Hollywood friends introduced her to the hallucinogenic substance, and Torres hasn’t been the same since. “That’s when she kind of started going off the deep end,” he said.

He also stated that he suspected she was making money as a “sugar baby” through romantic encounters with wealthy and influential men who paid for the place she lived.

“The love, money, and self-esteem you’ve always wanted,” Torres offered on her health website, where she released videos with advice on relationships, wellness, business success, and spirituality, including hypnosis, meditation, and exercise regimens.

Clients could also pay $150 for special one-on-one video chats with the influencer, which she said would fix any of their concerns.

Um, I keep seeing these offers—immediate fixes for life and business—while researching for my podcast.

In addition to Ana, Amanda was another girl who found hope in Torres. “All my doubts, my questions, my decisions—I always took them to her first, so that we could make decisions together,” she claims.

Ana consented when Torres invited her to relocate to New York in 2019 so she could work as her live-in assistant.

Consider how much of a dream it was for Anna at the time.

She says she accepted the offer to take care of Torres’ animals and handle her cooking, cleaning, and laundry in exchange for around $2000 per month. She had been studying nutrition at a university in Boston, but she made arrangements to study online instead.

However, there appears to be a darker side to the story. Ana, Amanda, and other ex-followers claim that they were willing to obey Torres’ instructions, and that they noticed a growing psychological distance between themselves and their friends and family.

Ana quickly realized the stark contrast between Torres’s real life and his ideal Instagram life.

Ana recalled that the house didn’t smell nice, and it was very messy and dirty. She also said that it seemed to her that Torres was unable to perform even simple tasks without her, like taking a shower, since she couldn’t stand to be alone.

Ana could only sleep for a few hours at a time, and then only on a cat-pee-covered sofa, so she could always be there for Torres.

“I can see now that she treated me like a slave. Ana stated, “I was probably among her initial victims of human trafficking,” noting that Torres never paid her.

She attempted to confront Torres because she was unable to return her housing in Boston, where she was a student, and she lacked funds for another place to live.

But as the influencer turned hostile, Ana quickly moved in with her boyfriend and fled Torres.

Workforce coercion and sexual abuse

Ana knew she had to act when she heard that two young Brazilian girls had vanished.

At least three other women have declined to cooperate because they are still traumatized by their experiences, despite the fact that her testimony is extremely helpful to the investigation and legal process.

Torres convinced one lady to work with her, teaching tarot and yoga classes, on the grounds that she was suicidal and needed her aid.

However, both women soon discovered that there was no fairy tale waiting for them, so Torres sent one of the women a plane ticket from Germany. This was the encounter with life they had dreamed of.

One of the girls, Desirre, wanted to leave, but Torres cursed her and made her repay all of the money she had spent on her.

She was afraid and decided to work as a stripper because she thought Torres had supernatural abilities.

Serious house rules applied to the influencer’s girls: they couldn’t speak to each other, Torres only allowed them to leave the room to use the restroom, and she had to immediately seize anything the girls earned.

Torres raised the daily payout threshold for girls from $1,000 to $3,000. If a female didn’t meet that quota during the day, she couldn’t stay at the residence that evening.

Torres requested Desirre quit working at the strip club and become a prostitute, and when she refused, Torres threatened her.

“I was troubled by numerous questions. If my condom breaks, will I contract a disease? Can the client act like an undercover police officer and arrest me? “What if he kills me?” the girl remembered.

Desirre and Leticia’s friends and relatives in Brazil initiated social media efforts in September to find them, as they got increasingly concerned after months of no contact.

When Ana saw the news, she knew Torres was behind it. Even though Ana informed the American police about the influencer, they did not believe her.

Following confirmation of suspicions regarding the girls’ sexual exploitation, Torres fled with the girls. However, they were unable to get away!

Torres’ discovery led to the safe return of the two girls to Brazil.

Over 20 women reported Torres, and in an interview with the BBC, she asserted her innocence.

Her attorney is currently preparing an appeal of the ruling, which stipulates that the influencer should spend eight years in prison.

The girls who have spoken out about Toress are hoping that the public will recognize and condemn this as a grave offense.

An influencer needs to be someone who will set an example for others, particularly the youth, by modelling appropriate behaviour and teaching them the true meaning of education, respect, and honesty.

Regrettably, there are more instances of this type.

I’ll let you make your own judgements.

Appreciation and Development in ‘Life: The Battlefield’

‘Life: The Battlefield’ is a podcast that draws strength from community and perseverance. With over 2.5 million listeners and 38,000 subscribers to our podcast, I am humbled and incredibly appreciative today and in total over 100K subscribers across all social media platforms I am so thankful!

Thinking back on this path that started only two years ago makes me feel really proud and appreciative.

Launching “Life: The Battlefield” was both an act of faith and a deep-seated desire. Many thoughts and uncertainties dotted the route to starting a podcast. Everyone had something to say about how to start a podcast, why not, and the never-ending arguments about what equipment to use.

Among all of this noise, I came to understand that I most needed to believe my own military intuition and experience. I understood the need for precise execution of a strategy and well-defined goals after experiencing the difficulties of military leadership.

Establishing an environment where we could examine and discuss the front lines of life’s greatest successes and problems was the obvious main goal. I knew I might create something very significant if I could blend my understanding of military leadership with a dedication to sincerity.

The plan was simple but deep: know the “what,” “how,” and “when” of achieving my goal. I decided what I wanted to accomplish with the podcast and how I would go about it, and I gave myself a reasonable amount of time to get there.

Accepting the possibility of failure was part of the process. I knew there would be roadblocks and doubters along the way.

However, I also realised that a minute of real video material might be worth a billion words. This belief kept me going, though some discouraged me and thought it wasn’t worth the work.

Motivated by a vision of what “Life: The Battlefield” may become, I persisted.

As I consider this journey now, I am incredibly appreciative of every view, every subscriber, and every supporter.

The success of “Life: The Battlefield” demonstrates the need for action rather than merely trying, as well as the strength of tenacity. Attempting suggests a hesitant attitude, with room for retreat and a lack of commitment.

Conversely, doing represents a total dedication to completing a vision in spite of obstacles.

The popularity of our podcast has reinforced a fundamental reality: achieving goals requires unwavering commitment, not just effort. When we commit to anything, we welcome the whole trip, including the disappointments and setbacks. Every difficulty turns into a teaching moment, every setback into a bigger success. My total dedication to ‘Life: The Battlefield’ allowed me to transform an idea into a vibrant community.

On this path, thankfulness is really important. I thank everyone who watched, listened to, and interacted with the material. This podcast has been successful, mostly because of your support. Every view and subscription serve as a reminder of the power we can have when we dare to follow our aspirations.

‘Life: The Battlefield’ is a story that, in the end, demonstrates the value of deeds above intention. It serves as a reminder that, when we commit to doing rather than merely trying, our goals are reachable.

This show has expanded because its origins were a purposeful and committed effort to change the world. I’m still thankful for this amazing trip and looking forward to the many fights and triumphs that lie ahead. I appreciate you sharing in this amazing event.

Thank you all for all your support!!

I do remember that when I started my first business, one of the most powerful and insightful lessons I ever learned was, “Mario, always prepare yourself before you go to a meeting.”

My response would be, “What specific steps should I take to prepare myself?” The answer was concise and straightforward: conduct a background check, exercise due diligence on the individual, or simply, understand who you are speaking with and what you are offering.

Days of face-to-face meetings are bringing back memories of the good old days, when I used to dress in suits, polish my shoes, and carry my documents in a fake leather bag due to a lack of funds for real leather, branded, and gold-imprinted bags. However, that is a story for another time.

That being said, I always knew who I wanted to see and what I wanted to ask, and of course I would adjust, improvise, and implement my conversation with potential clients according to the topic, theme, and tone of the conversation.

After several years of hiding behind desks in pyjamas and pretending that business is as usual, the luxury of true negotiation has vanished.

However, many have embraced the innovative strategy of “carpet bombing” online with a variety of offers and deals, as evidenced by my success.

Here’s the explanation for why the majority of online gurus, who instruct others on business management, utilize B52’s targeting strategy to attract potential clients: by presenting compelling business offers, we can convince someone to accept them, leading to a successful business transaction.

Every day, a plethora of emails, SMS, or LinkedIn promotional emails inundate me, offering solutions to all my past, present, and future problems, both in business and in private.

The best part is that it’s becoming entertaining to see how true desperation and KPIs are pushing some businesses and individuals to the breaking point. As a result, they adopted carpet bombing by using all available means, and the method of delivery is electronic (emails, SMS, etc.).

It is wrong and will continue to be wrong, as it fosters resentment and negative thinking instead of creating a positive impact.

Stop listening to others, but instead focus your effort on the way you would like to be treated and approached.

So let me present two types of analysis when it comes to “online” offers: emails with solutions to all problems, and the list goes on.

Pre-Mortem Analysis is the approach I was required to use when I was working in government intelligence services.

1. Identify who your target market is (company or individual).
2. Identify who is the most appropriate person in the organisation to talk to. Make sure you know the name and address of the person you need to speak with.
3. Conduct thorough research on the company, its services, its products, and their potential benefits. Your products and services can benefit potential clients.
4. As a means of communication, you only have one chance to impress, so find a way to communicate properly and clearly in order to gain attention.

Postmortem Analysis

1. Reputational Risk: It goes without saying that employees don’t care about reputation, but as a business owner, you should, and if you are the CEO, it is a must.
2. If you send an unsolicited email or business offer, it’s likely that people will remember you and your company in the future.
3. You are offering a solution to a person or company; most likely, they will question your intention.
4. If you succeed in gaining a foothold in some businesses or individuals and can’t deliver on what you promise, then you know that there will probably be legal implications.

Ask yourself: How many CEOs of large organisations are waiting for your emails to solve their problems, needs, etc.? I doubt anyone will open your email and seize the opportunity; instead, they will perceive you differently and in a negative light.

Imagine yourself as a CEO of a large organisation, and only then will you comprehend the importance of conducting business in person rather than via email. If you can’t adopt this mindset, you’ll realize why you’ll never succeed in the market, even if you spend $29.95 on an online life coach or business guru who promises to reveal the secrets of becoming wealthy.

Introduction

It was a hazy, foggy autumn morning in 1991. The frigid air filled my lungs, and my body and mind were plagued with doubt, worry, and anxiety. For the last 30 minutes, we had waited for the enemy to emerge from the fog and attack our positions.

My commanding officer approached and instructed me, “Don’t waste ammunition; shoot sparingly.” I asked for clarity, even as the enemy’s approach became more audible in the fog.

He said that each bullet now cost $5, and my 1,500 rounds needed to last for a few days. At that point, I realised my MG 42 machine gun was nearly useless; rounds were too expensive, and logistics were collapsing.

This episode showed me that battles are won not just by soldiers, but also by logistics that maintain a consistent flow of supplies, equipment, and weaponry.

Later, at the Academy where I studied intelligence, we discovered how important logistics were throughout WWII, particularly in Britain.

Proper logistics planning is critical, particularly for island nations. This lesson is still important today, as we confront disruptions such as those produced by the COVID-19 epidemic.

Historical Context – Pre-COVID Logistics

Prior to the epidemic, global logistics ran with extraordinary efficiency.

Goods flowed effortlessly across borders, and supply networks were optimised for just-in-time delivery.

This extremely efficient system, however, was equally vulnerable, with little space for unanticipated disturbances.

Companies used predictability to reduce inventory costs and increase profits. Logistics networks were the backbone of global trade, allowing commodities to be transported quickly and affordably around the world.

WWII German Submarine Warfare

During WWII, Germany’s U-boat campaign sought to cut off Britain’s supply routes.

These submarines patrolled the Atlantic, sinking commercial ships and forming a blockade.

The plan was to starve Britain of resources and force a surrender.

The impact was severe, resulting in rationing and tremendous hardship. To confront the threat, the Allies needed to innovate and adapt, creating new methods and technology.

Convoys, improved sonar, and air cover finally reduced the U-boat danger, but the time exposed the vulnerabilities of supply routes that were targeted for disruption.

Comparison of Disruptions

Similarities

Both pre-COVID logistics and WWII submarine warfare focused on crucial supply lines.

In both cases, the goal was to interrupt the regular flow of products, resulting in shortages and instability.

The impacts were widespread, affecting not only the immediate beneficiaries but the entire network that relied on those supplies.

Businesses experienced production halts, increased costs, and uncertainty in planning and operations.

Differences

The approaches and technologies varied greatly. WWII saw physical destruction of ships, but COVID-19’s disruption was due to systematic failure.

The magnitude also differed: the war’s influence was limited to the Atlantic, whereas the pandemic disrupted global commerce networks.

However, both scenarios revealed flaws and necessitated a reassessment of logistical tactics.

Modern disruptions have also shown reliance on global suppliers, complicated supply chains, and the interconnectedness of international trade.

Strategic Implications for Island Nations

Vulnerability of Island Nations

Island nations are especially vulnerable to logistics disruptions.

Their remoteness forces them to rely heavily on imports for necessities like food, medicine, and gasoline. When supply chains fail, the consequences are rapid and deep.

Businesses are facing delays, increased costs, and possibly closures.

Consumers face shortages, and prices for goods might increase, resulting in economic instability.

COVID-19 Impacts:

The pandemic highlighted how unstable these supply chains were.

Many island nations experienced shortages and delays.

Essential products became scarce, and prices rose dramatically.

The interruption highlighted the need for more resilient and diverse supply chains.

Businesses had to adapt rapidly, looking for new suppliers and routes, raising inventory levels, and investing in digital tools to better manage logistics.

Strategic Responses

In response to these vulnerabilities, island states have begun to implement strategic measures.

Some of the efforts being taken include diversifying supply sources, strengthening local production capabilities, and storing necessary items.

Investments in technology, such as advanced logistics software and automated warehouses, are also increasing.

These steps aim to strengthen the logistics network to resist future interruptions, assuring business continuity and economic stability.

Lessons Learned and Future Strategy

Adaptation and Resilience

The logistics business has had to adapt rapidly.

Companies are now focusing on developing more robust supply chains to resist interruptions. This includes increased transparency, improved risk management, and more adaptable sourcing techniques.

Businesses are also investing in technology like artificial intelligence and blockchain to increase supply chain visibility and efficiency.

The emphasis is on striking a balance between efficiency and resilience, ensuring that supply networks can adapt to changes and recover quickly after disruptions.

Strategic Planning for Island Nations

Strategic planning is critical for island nations’ long-term sustainability.

This entails not only strengthening logistics infrastructure but also encouraging regional collaboration and trade agreements.

Policies that promote local industry and limit reliance on a single supply source are critical.

Technology will also play an important role in risk prediction and mitigation.

Furthermore, developing strategic reserves and supporting local production of key items might serve as a buffer against global supply chain disruptions.

Long-Term Social Impacts

Personal Reflection: Living With Shortages

Having lived through the early 1980s shortages, I saw how grey and black markets emerged.

I recall standing in line with my dad for 10-12 hours only to get a kilo of coffee or cooking oil.

Despite a restrictive system, the collapse of communist society became clear.

The fury resulted from the fact that our own families were on the verge of survival, not what others had.

Economic Stability and Growth

Logistics disruptions can have a significant long-term impact on economies.

Persistent supply chain challenges can lead to higher prices, slower economic development, and lower investment.

Businesses may experience increased operational costs, resulting in lower profitability and probable layoffs.

For island governments, maintaining stable and efficient logistics is critical to economic stability and progress.

Public Health and Safety

During a crisis, disrupted logistics can have an influence on public health and safety.

Shortages of medical supplies, food, and other necessities can exacerbate public health problems and erode communal confidence.

Ensuring resilient supply networks is critical for sustaining public health and safety, particularly in remote and isolated areas.

Social and Political Stability

Long-term interruptions can cause social and political instability.

Public outrage over shortages and high pricing can spark unrest and undermine trust in institutions.

Governments and corporations must collaborate to ensure supply networks are resilient and capable of providing critical goods, hence preserving social and political stability.

Lesson to be Learned

The lessons of WWII and the COVID-19 epidemic underline the vital need for strong logistical strategy. These teachings are more so relevant to island nations.

By learning from the past and adjusting to the future, they may create more resilient systems that maintain stability and security even during times of disaster.

Logistics may not be a glamorous subject, but its impact on our lives, economies, and society is significant.

In a world where the unexpected can disrupt the status quo, resilient and adaptive logistics are critical.