The Howey Test is four criteria an asset must meet to qualify as an “investment contract.” If the asset is an “investment of money in a common enterprise, with a reasonable expectation of profits to be derived from the efforts of others” it is considered a security.
The opinion of the Supreme Court stated that “…an investment contract, for the purposes of the Securities Act means a contract, transaction or scheme whereby a person invests his money in a common enterprise and is led to expect profits solely from the efforts of the promoter or a third part…”3 This statement created the four criteria now used as the Howey Test:
SIX men accused of being behind an illegal online gambling operation were remanded in custody, the latest in a string of suspects to be arrested as part of a police crackdown.
They all appeared before Girne District Court on Monday, having been detained following a “complaint” from a gambler who said he had been denied a large prize.
The men were named as Nodir Pulatov, Hakan Törehan, Cemal Kandemir, Mehmet Mustafa Gün, Berat Tolga Uzald? and Emrullah Ünlü.
Police officers arrested Pulatov after a swoop on his Spelia Trading premises in Girne uncovered evidence that he had been “providing live support” for “illegal betting and gambling” websites, the court was told.
Pulatov admitted refusing to pay out a 45,000TL prize on the grounds that the player was a “TRNC citizen”.
The other suspects were arrested following a search of their Girne work address belonging to a company called Gör-Gez, owned by Törehan, which had allegedly been supplying “financial support” to the gambling websites.
More than 26,000TL in cash, “hundreds of bank books, sim cards and bank cards”, 57 computers, and phones used to access “the details of 58 bank accounts”, along with “thousands of pages of documents and certificates”, were seized during the raid, the court heard.
Judge Mesut Mesuto?lu agreed to a request from detectives to be allowed more time to complete their investigation, amid suspicion that the illicit websites could be part of a money-laundering ring.
Update: so apparently Oscar has found a new company willing to invest in his technology.
The telegram group has now been unblocked and everyone on there was asked to email Kathy directly if you want to go with this new company or opt out.
If you opt out, it just means that you can claim that you lost your investment for tax purposes, and you can always choose to file what may be a class-action law suit against Oscar’s former partner for scamming everyone and taking off.
If you opt in, then you will be onboarded with the new company. However, zero details have been released about who the new company is and what that means for all previous Batched Node holders.
Given the timing, I originally thought the unnamed acquiring company was NextGen.
Here is the latest update by the Telegram group leader, which is very vague by the way, but this is what it said:
Hi guys updates coming soon ..I already had an introduction zoom with some hand picked leaders and Micah co owner of new company and will coordinate with Micah to have another zoom in the next 2 weeks ..Only small groups at a time.
Once I confirm a date and time I will start direct messaging you on date and time ..Thanks for your patience!
April 28th:
So I wasn’t able to get into the zoom meeting to hear about this new company that wants to buy/invest in the Batched (Uulala) technology and of course the Telegram Chat group was once again locked and only the moderator (Kathy keen) has access to post, so that’s preventing people from chatting about the zoom meeting.
BUT…. when I tried to join the group the zoom stated that the host was in fact: Micah Theard.
Go read a few posts earlier, this is whom I figured was going to be the new big investor in Batched.
Following on from this initial Zoom webinar, CashFlow NFT held a public webinar on April 29th.
The earlier webinar was confirmed by Theard early on;
We did do a sneak peek to a smaller group … sometimes we will let our core group, those who’ve really come in behind us have some privileges.
And I did have (the) privilege of getting the information that everyone’s going to see today, a little bit early.
At [53:19] into the webinar, Theard covers CashFlow NFT’s new acquisition.
We have acquired new technology. We have a nodes system coming.
Every day you run your nodes, you receive rewards. And the nodes are there to validate transactions.
These nodes will be for sale and are basically money printing machines.
There was some nonsense about profiting off real-estate too but that seems to have been quietly abandoned.
As revealed by Theard on the April 29th webinar, here’s how CashFlow NFT is going:
Delayed pyramid recruitment commissions and no NFT payouts.
Despite that, Theard is still stringing CashFlow NFT investors along with promises of riches:
Based on Theard’s representations, CashFlow NFT is going to launch a new Phoenic token soon.
CashFlow NFT plans to pay outstanding commissions with Phoenic (which are generated on demand out of thin air).
Investors are being discouraged from cashing out Phoenic on the usual “number go up” marketing.
[51:11] Our Phoenic token will be part of everything that Miracle does, and it will be similar function but actually more functionality than the Binance Coin.
And anyone who knows about the Binance Coin, there were people who were invited in to purchase that as an ICO for pennys, if not less.
The first public price for that was 10 cents and today it’s trading around $335.
We’re expecting that our Phoenic token will have a similar journey up.
Batched allowed clients to create shitcoins on a whim…
…and “node system marketing” suggests Phoenic will be launched as part of the Batched acquisition.
Marketing aside, the reality is CashFlow NFT is on its last legs:
One can probably attribute CashFlow NFT’s March website traffic growth to Batched investors. Of note is SimilarWeb tracking 100% of Cashflow NFT’s website traffic originating from the US.
This potentially puts CashFlow NFT itself within the sights of the SEC. Due to Batched’s and Garcia’s heavy baggage, action from the CFTC is also a possibility.
Looking forward, CashFlow NFT is holding a marketing event in Florida across July 7th and 9th.
The event is part of Marc Accetta’s “A View From the Edge” brand.
Tickets to the event will set you back $599.
For the first time, Miracle Cash&More presents our newly appointed Director of Training, Marc Accetta’s world-renowned event, A VIEW FROM THE EDGE!
As above, Accetta was recently appointed CashFlow NFT’s Director of Training.
On his personal website Accetta, a resident of Texas, claims to have “over 30 years of network marketing experience and wisdom”.
The public face of the CashFlow NFT is Swedish resident Daniel Wood.
The actual founder of the Ponzi scheme however is career scammer Micah Theard.
You won’t find Micah Theard’s name anywhere on CashFlow NFT’s website though.
Despite having launched and begun soliciting investment, CashFlow NFT’s website is still just a signup form.
The only public connection you’ll find between Theard and CashFlow NFT, is a crypto shill event held in Texas back in June:
To confirm Theard is in fact CashFlow NFT’s founder, we turn an unlisted video on Miracle Cash&More’s YouTube channel:
Hi, my name is Micah. I am the founder of CashFlow NFT.
It seems in addition to founding the company, Theard has made himself Vice President.
This tracks with Daniel Wood (right) being the public face of the company.
Miracle Cash & More is a crypto wallet company, run by CEO Hakan Törehan. CashFlow NFT runs its Ponzi scheme through Miracle Cash & More’s wallet services.
Both Torehan and Wood have ties to Cyprus, a scam-friendly jurisdiction… for the most part.
Back in 2017 Torehan was arrested in connection with an “illegal gambling ring” and association with “organized crime”. Specifically, Torehan was charged with “providing financing for illegal online gambling sites”.
Torehan was released on bail in February 2018 and, as I understand it, hatched a plan to avoid reporting to authorities through a fake doctor’s certificate.
When that fell through Torehan disappeared in June. He surrendered himself to authorities in September.
Torehan maintains he was kidnapped by Osman Aydeniz, who at the time was on Interpol’s red notice and the UK’s “most wanted” lists for drug trafficking and theft.
6 Turkish Cypriots came together and created a cryptocurrency called “Miracle”.
Hakan Törehan, one of the founders of the company, which started to serve in Nicosia, Famagusta and Girne in the TRNC, said that their goal is to create the bank of the future, and that they are the first and only licensed company.
Miracle as a cryptocurrency doesn’t appear to have gone anywhere but it did lead to Miracle Cash & More, launched on or around December 2021.
Since BehindMLM tied Miracle Cash & More to CashFlow NFT on August 4th, Miracle Cash & More’s website has been disabled:
Not sure what the story is there. Anyway, it appears that Torehan has gone from “financing illegal gambling sites” to “financing illegal MLM crypto Ponzi schemes”.
That leads us to Micah Theard, CashFlow NFT’s founder.
Before he got into Ponzi scamming, Theard worked in the textile industry.
I believe Theard’s first major MLM scam was Flexkom (circa 2013/2014).
Flexkom’s was a pyramid scheme hidden behind a merchant network. It was run by Turkish scammers.
After Flexkom Theard began promoting the notorious OneCoin Ponzi scheme.
Around this time someone going by “micah” showed up on BehindMLM, claiming to have “checked” OneCoin’s non-existent blockchain.
After OneCoin Theard got involved in Circle Society:
Circle Society was a $100 million crypto Ponzi scheme run by David Saffron. Saffron was arrested by US authorities in June 2022.
It seems Theard finally realized running Ponzi schemes is where the money is at. And so we have CashFlow NFT.
As at June 2022, CashFlow NFT was busy flogging $5000 NFT positions to gullible investors in Spain:
After Spain CashFlow NFT has been trying to flog similar NFT investment positions to UK residents.
A source tells me that last week, Daniel Wood claimed “the selling of these NFT’s has really slowed down.”
