AMIR Heydari
Over the past two decades, there has been a surge in pyramid scams, many of which exploited the concept of stock market investments to dupe unsuspecting victims. Why target the stock market? The answer is simple: A) Fraudsters can easily counterfeit worthless securities and present them as genuine investments. B) Public awareness of financial market investments is limited, providing an ideal opportunity for fraudsters to manipulate their victims.
One notable pyramid scheme in recent years, especially in the Middle East, is Unique Finance. Operating not only in Iran but also in underdeveloped countries like Iraq, Afghanistan, and Uzbekistan, this pyramid network has extended its reach into Turkey, leaving a growing number of victims in its wake. The founders of Unique Finance, who are of Iranian nationality, have a history of orchestrating previous Ponzi schemes such as Uni funds and Quint. They’ve shrewdly utilized their past experiences to portray Unique Finance as a renowned entity in the world of stocks and exchanges.
The mastermind behind Unique Finance is Farzin Fardin Fard, an Iranian national residing in the UAE, where he hides behind the façade of a music studio in Dubai. He oversees the organization’s operations. Others, including Mohsen Derakhshan, Nima Tabari Fard, and Mojtaba Goran Jalali (Cyrus Gran), have also played pivotal roles in advancing their criminal objectives and supporting Fardin. Mohsen Derakhshan, deemed responsible for the network’s expansion within Iran, introduced the Unique Finance pyramid scheme and recently faced a public trial for fraud and economic disruption, resulting in a 20-year prison sentence and substantial fines. Unique Finance has been officially recognized as a fraudulent pyramid scheme by regulatory and judicial authorities in Iran, Iraq, and Afghanistan, with investigations against the heads of the organization ongoing.
Ewink Finance’s management has asserted various claims to further their fraudulent goals. In this article, we aim to verify these claims made by Unique Finance fraudsters:
Is Unique Finance a Swiss company? The fraudsters insist it is, but the truth says otherwise!
The constant claim by Unique Finance’s promoters and founders, especially in news channels, is that they represent a globally renowned company headquartered in Switzerland and Zurich. They assert that the company’s chairman and board of directors operate from Zurich, Switzerland. However, a straightforward inquiry with the Swiss Financial Markets Authority (FINMA) exposes this claim as false. FINMA states that Unique Finance is on the Swiss investment alert list and confirms that there is no such company in Switzerland. The official address listed on the Unique Finance website in Zurich does not lead to an existing office. In an official response to inquiries, the Swiss financial market watchdog has declared that a company named Unique Finance was dissolved in 2017 and no longer exists in Switzerland. Fraudsters are using the name of a defunct company to mask their fraudulent activities. The creators of Unique Finance attribute FINMA’s announcement to tax issues, to which FINMA responds, ‘A company that no longer exists in Switzerland cannot have tax problems here!
https://www.finma.ch/en/finma-public/warning-list/unique-finance/
Is Unique Finance Legally Authorized for International Operations? According to Fraudsters, Yes… but the Truth Reveals Otherwise!
The International Organization of Securities Commissions (IOSCO) stands as a global institution that unites securities regulators worldwide, serving as the benchmark for regulatory standards in the securities industry. IOSCO plays a pivotal role in formulating, implementing, and advocating internationally acknowledged regulations for the securities sector. This group collaborates closely with the G20 and the Financial Stability Board (FSB) to shape the global regulatory reform agenda. In essence, IOSCO functions as the international law enforcement agency for financial institutions around the world.
IOSCO bestows its recognition upon FINMA (the Swiss Financial Market Supervisory Authority) as Switzerland’s regulatory authority. Notably, Unique Finance has made its unwelcome appearance on IOSCO’s Investment Alert List since July 2017, indicating a glaring absence of a legal operating license according to this esteemed international organization.”
These revisions help make the text more SEO-friendly and enhance its clarity and readability. You can further optimize it based on specific keywords or content strategy for your website.
https://www.iosco.org/investor_protection/?subsection=investor_alerts_portal
Is Unique Finance Legally Licensed to Operate in Iran? According to Fraudsters, Yes… but the Reality Reveals Otherwise!
In Iran, regulatory bodies, including the police responsible for overseeing financial exchanges and information production, as well as the Committee for Supervision of Marketing Company Activities, have officially classified Unique Finance as a pyramid scheme. They have declared the activities associated with this pyramid as illegal, and have made it a criminal offense to be affiliated with Unique Finance. The General Assembly of the Supreme Court in Iran, comprised of high-ranking judges, has ruled that being a member of a pyramid company without a valid license is an independent crime, and individuals involved in such activities are held accountable.
Furthermore, the FATA police in Iran has introduced Unique Finance as a pyramid scheme and an illegal conspiracy through an SMS notification system designed to respond to inquiries about Unique Finance. As for companies licensed to operate in Iran, their licenses are typically published on the official website of the Committee for Monitoring the Performance of Network Marketing Companies. Notably, there is no record of a license for Unique Finance in Iran.
Is Unique Finance listed on the Nasdaq Stock Exchange? According to the fraudsters, yes… but not in reality!!!
The fraudsters behind Unique Finance have resorted to spreading enormous falsehoods to further their deceitful aims. Sadly, due to the lack of awareness among their audience, they have managed to deceive numerous individuals with a colossal untruth. This major falsehood revolves around their alleged involvement in communication, collaboration, and activities within the Nasdaq stock market and several other global stock markets.
However, the official account of the Nasdaq Exchange and the Nasdaq Exchange representative in Dubai make it unequivocally clear: Unique Finance has no association with the Nasdaq Exchange and is not a member of the Nasdaq Stock Exchange.
Does Unique Finance have an automated trading system called the Auto Trading System (ATS)?
According to the fraudsters, yes… but not in reality!
There’s no guaranteed way for a stock market robot to deliver consistent daily profits, mainly due to the inherent fluctuations in the stock market. Attempting to buy a stock and sell it within a few seconds can lead to losses, primarily because of brokerage fees associated with trading on the stock market. When you engage in rapid buying and selling, you must pay a percentage as a brokerage fee along with other fees imposed by the stock exchange organization. Considering the price fluctuations even in large companies like Apple, capturing these fluctuations in seconds or even minutes is extremely challenging, if not nearly impossible.
Stock exchange funds adhere to specific rules established and monitored by the stock exchange organization, but there’s no legal obligation for them to lock in an investment for two years. What’s even more critical is how Unique Finance claims to cover transaction fees when it has no actual connection to the Nasdaq Stock Exchange’s trading core.
A unique pyramid scheme is an example of a fake stock slip and a fake insurance policy.
In this deceptive scheme, Unique Finance fraudsters issue fictitious shares, claiming that the holder of such shares is a shareholder of companies like Caterpillar, with an equivalent value of $1,000. They further assert that they buy and sell shares of other major companies such as Apple, Netflix, Mercedes-Benz, BMW, and Facebook. However, engaging in stock market investments in any country involves intricate authentication and bank account approval processes overseen by regulatory bodies, with specific conditions for foreign investors.
Investing in U.S. financial markets, particularly under the watchful eye of the Office of Foreign Assets Control (OFAC) and the Treasury Department, presents significant challenges and is virtually impossible for citizens of countries subject to U.S. sanctions. Nonetheless, Unique Finance fraudsters have resorted to propagating Goebbels-like falsehoods to deceive their audiences, selling them nothing but false promises for their livelihoods.
Is the initial capital insured by Unique Finance? According to the fraudsters, yes… but not in reality!
In their quest to deceive their audience, the fraudsters at Unique Finance make the preposterous claim that an American insurance company named GPM insures the initial capital of its members. However, this claim stands in stark contrast to the fundamental principles and regulations of the capital market. The very essence of the capital market lies in price fluctuations, and market experts consistently stress the importance of individuals managing their capital and accepting the inherent risks of this market.
Furthermore, inquiries directed at GPM with regard to the U.S. Securities and Exchange Commission (SEC) and inquiries into the Delaware Company Registration System, much like other inquiries related to Unique Finance, consistently yield negative responses.
Are the people of developed countries members of Unique Finance? According to the fraudsters, yes… but not in reality!
Even if we were to entertain the notion that all of the fraudsters’ claims are somehow valid, we would naturally expect Unique Finance to be a globally renowned entity with tens of millions of members, particularly in developed countries. However, this forecast isn’t just an exaggeration; it’s patently unrealistic.
In Europe and the United States, where bank interest rates are quite low, typically hovering around 3%, a financial group promising a fixed dividend of 72% per annum and assuring the safety of initial capital, even in the face of potential stock market declines, should theoretically attract the attention of millions of citizens. Yet, this expectation is far from the truth.
A brief examination of Unique Finance’s analytics statistics on platforms like Alexa and Google Trends quickly reveals that the fraudsters behind it predominantly target people in economically disadvantaged and crisis-stricken countries. Their tactics are primarily aimed at exploiting countries facing staggering inflation, economic turmoil, and challenging living conditions, such as Iraq, Iran, Afghanistan, Tajikistan, and others.
https://trends.google.com/trends/explore?q=unique.finance
Is Unique Finance the same as Unique Finanz AG? According to the fraudsters, yes… but not in reality!!!
The fraudsters assert that Unique Finance and Unique Finanz AG are one and the same, just under different names. This claim is so outlandish that a simple search on the official Swiss company registry website, Zefix, proves otherwise. The search clearly reveals that these two names have no connection to each other. Unique Finanz AG, under the management of Robert Weisser, has absolutely no affiliation with the alleged fraudulent organization. Mr. Robert Weisser has explicitly stated that his company has no association with Unique Finance. Their official company information confirms that the company operates in the clean fuel and energy sector, with no involvement in the stock market, as claimed by the fraudsters.
https://www.zefix.ch/en/search/entity/list/firm/435197
Does the US Securities and Exchange Commission (SEC) approve Unique Finance?
While the fraudsters claim otherwise, the reality paints a different picture. The U.S. Securities and Exchange Commission (SEC) issues constant warnings to educate the public about the deceptive tactics employed by Ponzi and Pyramid schemes. The SEC emphasizes that projects promising high-risk, risk-free profits, engaging in unapproved economic activities, offering overly uniform returns, and employing complex and secretive strategies are highly suspect of Ponzi conspiracies. The SEC strongly advises investors to steer clear of such schemes.
https://www.sec.gov/oiea/investor-alerts-and-bulletins/ia_ponziseniors
After extensive efforts by the victims and the country’s law enforcement agencies, on 1400/9/16, “Mohsen Derakhshanfar,” a key figure in the Ponzi scheme network associated with Unique Finance, was sentenced to 20 years in prison and had all of his assets seized. Other primary figures in this fraudulent network are now on the run from Iran. Notably, Nima Tabarifard, who has a history of involvement in Ponzi schemes like Uniforms and Quintet and a criminal record, plays a pivotal role within Unique Finance. He manages one of the advertising channels for Unique Finance and has since fled to Turkey. Mojtaba Goran Jalali, known as Cyrus Gran, is another prominent figure connected to Unique Finance and manages a different advertising channel.
Numerous Iranians living abroad who were lured into Unique Finance are considered affiliates, registered with identification codes within the Unique Finance system. At the heart of Unique Finance is “Farzin Fardin Fard,” a critical agent and founder of the organization. He currently resides in the UAE and Dubai, overseeing the music company 3fmusic.
Farzin Fardin Fard’s luxury life in Dubai
Farzin Fardin Fard has constructed a lavish lifestyle in Dubai, funded by substantial earnings acquired through fraudulent activities. Currently, he is engaged in the extravagant acquisition of properties through ill-gotten gains. In a notable instance, he secured the winning bid for the auction of a single-digit number 9 license plate in Dubai. The AA9 license plate purchased by Farzin Fardin Fard at the 100 Million Meals ceremony ranks as the second most expensive license plate globally.. Source
How fraudster take advantage of media by buying NFT’s
Farzin Fardin Fard is building a new identity for himself today. With the purchase of NFT, this fraudster encourages major technology news agencies to introduce his name and his company as an active and interested person in the blockchain field and introduce themselves from the margins of Unique Finance scams.
Farzin Fardinfard has bought 442 NFTs under the name 3fmusic – (Source – Archive) – some of which have made headlines. Some NFTs purchased by Farzin Fardin Fard are:
buying New York Times NFT for $ 560,000 – the source is New York Times
media promoted Farzin Farinfard
media promoted Farzin Farinfard
Farzin Fardin Fard is known today as the owner of a sound company in Dubai and has created a new identity in the media, and no one knows what his main job is and how he has swindled this money from people. Source
Unique Finance court case in Iran.
The Iranian police have repeatedly announced that they are fighting the fraudsters of Unique Finance in Iran, and now the company’s case is on the judge’s desk, where the name of Farzin Fardin Fard can be clearly seen.
Also, a database of site users in the group of victims of frauds was published, in which the name of Farzin Fardin Fard can be seen in the top of the list of first users.
On December 7, 2021, the sentences of some of the detainees of this company in Iran were announced: Source
Judiciary Spokesman Zabihullah Khodaeian, in a press conference, announced the votes issued for the defendants of the Pyramid Unique Finance Company as follows:
Mohsen Derakhshanfar is to be imprisoned for 20 years and a fine.
Majid Faridi is to be detained for 5 years.
Mustafa Almasi is to be detained for 5 years.
Activities and networking in a pyramid scheme have no end other than imprisonment, fines, and loss of life and youth behind bars. Is Mohsen Derakhshan sentenced to 20 years in prison and fined is set a lesson for unique network leaders? The next demand of the victims from the judiciary is the extradition and trial of Farzin Fardin Fard; Nima Tabari Fard and Mojtaba Goran Jalali are fleeing the country.
Today, the spread of the unique finance fraud network is not only on the borders of Iran but has also infected other countries.
- Unique Finance scam alert in Cameroon – Source
- The Washington-based Arab al-Hurra news agency warned of widespread fraudulent activity by Unique Finance in Iraq. Unique Finance .. “Iraq’s biggest scam” and victims of “bloodshed” threat – Source
- Police warn in Uzbekistan and detain a group of unique finance activists – the founders of the financial pyramid in Kashkadria were convicted. They were able to attract 13.7 billion citizens. Source
- Uzbek media warn about Unique Finance activity – Source 1 – Source 2
It is estimated that this network has exported more than 5 billion dollars from Iran, and the group of losers of this fraudulent network in Telegram includes 3,000 members (link). The losers are hoping to implement the law and the trial of the fraudster Farzin Fardin Fard, the main branch and operator of the Unique Finance fraud network.
Update:
It seems that Farzin FardinFard has launched a new page on Instagram.
