Episode Transcript
[00:00:00] Out of cycle update.
[00:00:03] I'm not sure I can call him a tycoon, but that's what they did. CryptoTalk FM. My name is Leister, I'm your host with another breaking update regarding Manny the rug puller from the site side of chain Saitama scam syndicate. There were people that were interested in updates on doing this is not a cycle simply because it was. I saw that literally just came across my desk and I am going to quote directly from the article this time because there may be some folks listening on the show. Welcome by the way from the UK that rhymes. So breaking it down the the header trader faces U. S crypto con trial. And I gotta give shout out to the headlines in the UK because that's what I want to see. Call it what it is, you know, not this softball crap that the U. S does call it what it is. It's a con trial. That's exactly what it is. The scam syndicates in full force. That's exactly what it is.
[00:00:56] A cryptocurrency boss based in Britain is allegedly at the center of a scandal which has cost investors billions of pounds. Manpreet Singh Kohli, 43, is one of several executives who could spend up to 45 years in a US jail if convicted of fraud. He faced extradition proceedings at Westminster magistrates court on December 16 after national crime Agency officers arrested him in October.
[00:01:19] Coley is out on a 200,000 pound bail and has to wear an electronic tag at the 1.1 million pound family home he shares with his wife and two daughters in Windlesham, Surrey as he awaits a full hearing in June. Stop. So, 1.1 million pound family home. This is the house I covered. Didn't look all that impressive, but that's a, that's quite a few pounds that that house is worth. And they, and they only put a 200,000 pound bail on him. I would, I would have expected a much higher bail for this. And I was surprised to see they're saying, you know, the extradition's still going because remember initially the US was trying to extradite this, this scammer. And the court said, no, it's cool, we got him, he's not going anywhere. And they were pushing back a little bit. Now that's back on the table. So the US is trying to get their hooks in this dude, just like doe rug pull, AKA Doe kwan, you know, that same thing. So I was intrigued, fascinated, and in some cases thrilled to see that that's back on the deck.
[00:02:23] The businessman also owns An Indian restaurant in Surrey. He was the chief executive of Saitama, a cryptocurrency company he ran from Britain, but was registered in the US state of Massachusetts. At one point, it was valued at 5.7 billion pounds. Along with two other Saitama executives, he's accused of deliberately making false statements about holding crypto tokens issued by his firm while secretly selling them off. Stop. So the Indian restaurant in Surrey. Interesting, right? Because I saw that he had that consulting firm, allegedly a janitorial firm, and then there's some Indian restaurant. I couldn't find the Indian restaurant. But. So he's had a lot of these other businesses that he might have been running legit. And I said that if he was smart, he would have been investing in those businesses, using that. Basically clean the money, right? Do clean money. Work it clean, work it over the table. And he wasn't doing that. Instead, he was doing the scam syndicate, living fat off the hog. Quote, they are among 18 finance traders and companies being prosecuted in the US over an alleged fraud said to have been carried out between 2021 and 2023. Arrests have also been made in Portugal as Well as the US and authorities say more than 19 million pounds worth of crypto cash has been seized. Two former Saitama officials have pleaded guilty to fraud in the US Stopped. That's of course, Russ Cult leader and Max Hernandez. Max equation. Those two specifically pled guilty. I was told there was a third one.
[00:03:55] So the number keeps moving. It's a moving target. I was told there was three that pled guilty. Russ Cult Leader, I knew for sure. Max Hernandez. I knew for sure. Nam's on the run. Vietnam, Manny the rug puller is. He's pushing back. He's fighting the case.
[00:04:11] So then you're left with Aaron Mansour Haroon Mossini. I don't know if. I don't know if. I don't know what's going on with Aaron because his. His name is called out in one of the cases, but not the other one. I believe he's called out in the civil, but not in the criminal. Then you have vzzn, which is Michael Thompson. They said that he. They were going after him, but then he showed back up on Twitter and I speculated he might have been one of the ones that dropped the dime. I don't know that for sure, but it was interesting he showed back up. And then you have Gabe, don't know what's going on there.
[00:04:42] Steve. The other Steve, don't know what happened there. So there's other. It's still a moving target, is the point.
[00:04:48] Quote Investigators created their own fake crypto token to check how rogue traders were rigging the market and catch those allegedly involved. The FBI accessed private Telescam accounts, which exposed the alleged contempt Saitama executives had for their investors. It's claimed. Once said, we need to lure this idiot to empty his wallet. That's of course, a stop. That's V Fam, by the way. Quote US Attorney Joshua Levy said this investigation, the first of its kind, identified numerous fraudsters in the cryptocurrency industry. These charges are a stark reminder how vigilant online investors must be. Around 7 million Brits have invested in crypto UK watchdog, the Financial Conduct Authority says it's closed 900 scam scam sites in the past year. The latest pro follows the fall of the FTX crypto exchange and the jailing of owner Poof Hair Sam Bankman, Fried, 32 for 25 years in New York last March. Coley did not respond to a request for comment. Of course, he did not stop. So in summary, the US Is still going after this joker for what he did. We know now a lot more about Manny the Rug puller than we did, a little bit more. We know that he has kids. We know he has a wife. We know he's living fat off the hog in a house that to me, doesn't look that impressive. But it is what it is doing there. We know he has this Indian restaurant. We know he has that janitorial, whatever the hell that thing's going on. And we know, most importantly, that the US Wants to send him up. They want to send him up for a very long time for what has happened. Mostly the fraud, specifically fraud charges. Now, I want you to think about this. Brad Beatty actually had some legitimate fraud charges.
[00:06:30] Brad Beatty having legitimate fraud charges. And he. He got caught in this case. This whole net, this dragnet, he got caught in it, too. But he already had a prior fraud case and he was out back on the streets. I'm just putting that out so you can understand how slippery some of these people. I think Richard Hart, right, he went on the street for ages and look what he's done. Okay, so it's a slippery business. It takes a certain level of damage to the business in order to see people serve jail time. That's why they went straight after Poof Hair. Now, I said they should have gone up to Caroline because she was right there in the mix. And they slack gave her a slap on the wrist is what they effectively did. Yeah, you Got to give back the money. No. Send her up for 30 years because of what she did too. They're not interested in going directly after fraudsters. They're going all straight on gender. You might not ever see anything happen to vfam. You won't see anything happen to these females that are the crypto slimes. You ain't gonna hawk to hawk to a girl. You're not gonna see anything happen to them. But they'll go after these dudes that are stupid enough to put their stuff out there and stay in areas that have extradition treaties and, you know, set up businesses where they're easily found and floss their money around the easy, low hanging fruit. That's where they go after it. The ones where it's easy to hang your fruit and where it's men. Cuz again, russ, cult leader Christina was right there in it, in the mix. Nothing. She's not even named in the case. Come on. We know what it is. We know what it is. It's, it's, it's, it's all, it's all a joke. I'm not suggesting that they shouldn't go after the scammers. I'm saying christina should be in the. In this list. Same with the, the dudes. Caroline should be in the list. Same with the dudes. That other crypto queen that was overseas, she should be in the mix. They should go after the women just like they go after the men. But we know what it is. I digress. So Mandy, the rug pull, that's the status. As it stands right now, he's looking at 45 years in a U. S. Prison should the extradition be successful. I had somebody on YouTube ask what the hell is going on with side of chain. I can't tell you that answer because I don't even think they know at this point. I'm not sure that they even know what they're going to do. They're just kind of going through the motions at this point. So I don't have any information beyond what I've seen. I will tell you right now, based on the status of the token and its liquidity state across the board and the fact that they rug pull liquidity off unit swap and pancake swap like some dumbasses. For the most part. You're gonna have to go to their if you want to trade the dex.side of chain.com, i assume it works. I'm not going to try it. They just did a post talking about x bridge and they loaded some liquidity for something I don't know what that is. I'm not going to try it because it got breached. So I wouldn't trust it. My point is I don't trust it as far as I can throw it. If you're trying to get out of it to me, I would recommend dex.side of chain.com and see if you can get lucky on it. But I'm not telling you to do it. I'm saying if you're trying to, that would be the only place that you could because they yanked it off everything. It's still on Mex C, it's still on Bing X. But Bing X got breached. Mexc's a bunch of scammers. You know, I'm saying that at this point, if I were directly advising anybody, and I'm not, but if I were and I saw a friend and they said, look, what do I do with this stuff? I would write it off as a loss. Because you don't.
[00:09:47] I would write it off as a loss. There's so much smoke around this. I don't know that it's worth it. That said, there are people that might say, I'm just gonna roll the dice and see what happens. Great. It's cool. There are some that say, I just want to. I want to sell it. I want to. If I can find. Go to their stuff and see if you can figure it out on side of chain.com. i can't guide you. I can't recommend it. I can't do anything. But maybe you get lucky there. Other than that, this is where we're at. That rhymes.
