On May 5, Metafi Yielders launched a new 4.2 percent-a-day investment strategy.
Michael Daher, CEO of Accomplice, admitted that this was an effort to maintain money in the system.
Withdrawal issues were first reported by Metafi Yielders affiliates on May 6th.
In the Facebook group Metafi Yielders Scam – Now What!?, affiliates were still reporting difficulties withdrawing their earnings on May 10th:
Requests for help from Metafi Yielders have gone ignored.
As of May 12th, Metafi Yielders’ withdrawal issues are still unresolved.
Late in April, Metafi Yielders began experiencing withdrawal symptoms for the first time. They were dismissed as a “DDOS attack” and ignored.
In an effort to reduce withdrawals, Michael Daher has announced an additional 700, 4.2 percent per day investment positions:
The first round of Metafi Yielders’ 4.2 percent a day holdings was 1500, if memory serves. This delayed $15 million in withdrawal liabilities for 30 days at a cost of $10,000 per person.
Metafi Yielders wants to add another $7 million in withdrawals with the addition of 700 additional positions. On the other hand, Metafi Yielders’ withdrawal liabilities are growing at a rate of 4.2 percent a day.
In his video appearance yesterday, Daher went on to explain away support concerns. According to Daher, the chief of Metafi Yielders’ support department, “Joseph,” has resigned.
Daher’s former bodyguard, Joseph (on the right), is thought to be a Vietnamese national with ties to Daher.
In his place is Maggie Jay Babcock, a Western Australian Metafi Yielders investor.
A reaction to racism is framed by Daher as the reason for Joseph’s departure.
A distraction from Metafi Yielders’ continued withdrawal issues appears to be the purpose of this.
“Support inquiries” were rebuked in Daher’s May 12th update Q & A area after affiliates had been promised they could ask anything.
“If you can please again keep your Q&A till the very end we’ll come back to that. And I’ll give you full reigns of the show and you can ask whatever questions you have.”
“Does anybody have any questions or comments?”
“I notice that people are asking for a lower package at the 4.2(%). This is exactly what I’m talking about here.”
“Why are you asking support questions in a live update? Right?”
“I’ve just explained, please use the website for a chat bubble. I’m here to give you an update, and you’re asking for support.”
We are not required to provide you with the auditor’s financial statements. For your information, It doesn’t matter to you, as long as you and your coworkers are receiving your paychecks on a regular basis.
However, we’ll provide you with a complete audit of our transactions for your review.
Metafi Yielders must register with financial regulators in order to conduct business legally. It’s not just in Australia that Metafi Yielders is looking for investment; it’s in every country they do business in.
According to SimilarWeb, Metafi Yielders’ website received over 330,000 hits in April 2022. Most of the visitors are thought to be from the United States.
The Securities and Exchange Commission (SEC) governs US securities. Audited financial reports form a part of the SEC and public reporting requirements.
These reports would reveal Metafi Yielders’ sources of external funds and their utilization to pay affiliate withdrawal requests. A “transactions” report is not adequate.
Metafi Yielders and Michael Daher, on the other hand, are not SEC-registered. ASIC has also not received any audited financial reports from the business entity in question.
A number of MLM crypto Ponzi scams are feeling the heat from the recent bitcoin crisis. A few days ago, the Elevate Pass website fell offline. As a result of the bankruptcy of Mido Finance, withdrawal problems have been reported by COTP investors as well.