Updated 20 Nov 2024 UTC
108 weeks ago 8 investors in our group had sent 6-digits of BUSD funding to StableFund. None was refunded and the fraudulent project has "rug-pulled" (i.e., money taken; websites and social media channels downed; etc.). Public blockchains show many millions of dollars worth of BUSD were sent from thousands of crypto-wallets. StableFund seems to have been a masterful, "long-con" crypto-scam.
StableFund scam leader identified? See below 20 May 2023 and 24 May 2023
If you were also victimized in the scheme and would like to learn more, Register and Login for access to succinct, curated information. Some info appears below. "Stable Fund Investors Action Group" run by "Aischylos" on Telegram is excellent. Also excellent is the Telegram channel "DEFI Criminal Investigation Group".
REWARDS -- Discord user identifying as "Kroc#8008" has offered 50k BUSD reward: "I put 100k [into StableFund] unfortunately. And would gladly give 50k to any person able to retrieve our funds." Link. Similarly, we are also offering an additional 50% of our recovered funds, up to 75k BUSD.
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stablefund.com archives screenshots, videos, recordings, doxx, and other information.
8 Apr 2024 --
Lake Como wedding of Stephania & Varun Datta at Villa Balbiano - Exclusive Italy Weddings
https://www.youtube.com/watch?v=TCVcld9gWiI
29 May 2023 --
From Telegram --
Mr. VARUN DATTA: C453, DEFENCE COLONY, NEW DELHI 110024 ALSO RESIDING AT A269, SARITA VIHAR NEW DELHI 110076
SANJEEV DATTA (Varun's Father): C453, DEFENCE COLONY, NEW DELHI 110024 ALSO RESIDING AT A269, SARITA VIHAR NEW DELHI 110076
Varun's Indiana lawyer: Defendant - Appellee, VARUN DATTA // Represented By: Michael H. Michmerhuizen, BARRETT & MCNAGNY LLP // Barrettlaw (https://www.barrettlaw.com/our-people/michael-h-michmerhuizen) Michael H. Michmerhuizen : Partner | Barrett McNagny LLP Michael H. Michmerhuizen is an attorney with Barrett McNagny concentrating in the areas of Appellate Law and Litigation
Laura Murray Reich, Esq., Harper Meyer LLP, 201 S Biscayne Blvd 800, Miami FL 33131-4329 // ph 305 577 3443 // https://harpermeyer.com/attorneys/laura_reich/ // lreich@harpermeyer.com // floridabar.org/mybarprofile/22792
28 May 2023 --
From Telegram --
"Did anyone see the [ Day v. Datta 4New, Ltd. ] case that was overturned?
https://www.courtlistener.com/docket/64889804/day-v-datta/
"[Varun] openly scammed in 4New [Ltd., company] and an investor tried to sue but judge sadly sided with Datta. Emboldening him to scam again. This is why I think [Aischylos] was cautious to reveal identity until conviction secured. Datta knows no one in their right mind would invest again in him due to the well publicised scam history about him. Hence I suspect the whole “Michael Ray” thing.
From the PDF -- Case 1:22-cv-22572-JLK Document 1 Entered on FLSD Docket 08/12/2022
"13. Datta is a United Kingdom citizen and has a Florida residence at 3131 NE 7th Avenue, Unit 4304, Miami, FL 33137. 14. Sharma is a citizen of Florida residing at 10201 Sheila Court, Wellington, FL 33414. 15. 4NEW is a limited company formed under the laws of Britain and is a citizen of the United Kingdom for purposes of diversity jurisdiction under 28 U.S.C.§ 1332, with its principal place of business at 6 Lanark Square, 2nd Floor, London, UK E14 SRE. ... 18. 4NEW has its primary office at Sheraton Skyline Hotel Bath Road, Harlington, Hayes, England UB3 5BP. See Ex. 3, Change of Registered Office Address for 4NEW Limited."
25 May 2023 --
The horrible truth gets horribler by the day.
Hindustan Times: "Liquor dealer's son held for duping bank" (Nov 2012) -- Bank fraud. Forgery. Auto theft.
Daily Mirror: "GREEN CRYPTO SCHEME SINKS DEEP IN THE RED" (Jan 2020) -- "I received a strange and barely literate email when I last wrote about "entrepreneur" Varun Datta. His company 4New Limited had raised £34million from investors, who wanted to know what had happened to their money..."
24 May 2023 --
https://www.mirror.co.uk/news/uk-news/death-threats-zero-returns-investors-14061360
A new summary youtube reveals a bit more information: https://www.youtube.com/watch?v=Wcu2_OtPxso
Stablefund - Is Michael / Ray this man?
20 May 2023 --
"Raychael Kiedos", the leader of the StableFund crypto-scam StableFund, appears to have been identified. Video below (mirrored from youtube) compares "Raychael Kiedos" scammer's voice with suspect. The video below also claims matching voiceprint analyses. Moreover, Daily Mail India in 2014 posted this about "Varun Dutta" which almost exactly matches M.O. while differing by only one letter in the name (article also includes a picture for identification).
Video: StableFund crypto scam leader identified ?
Information gathered from DEFI Criminal Investigation Group on Telegram, Blacksheep Bloodhound Gang, and the apparent original source: (youtuber) Recon on Crypto (26 May note, this video and channel have been removed from youtube).
21 Mar 2023 --
Contracts the criminals used --
Matic (Polygon) --
https://polygonscan.com/address/0x0dc733a0c086a113a88ddab7c4160dc097b6f89a#code
BUSD (BSC) --
https://bscscan.com/address/0xfbbc24ca5518898fae0d8455cb265faaa66157c9
BNB (BSC) --
https://bscscan.com/address/0x4f2bc1d99c953e0053f5bb9a6855cf7a5cbe66fa
13 Mar 2023 --
Keep up the pressure of public exposure by filing fraud cases.
When you think of how smooth and convincing Raychael was — an highly-polished, coldly kniving psychopath without empathy or care for others — you should think of that trash-heap "savior" in SLUMDOG MILLIONAIRE movie, the guy who smilingly, steadily lured the poor orphans with Coca-Cola and food and shelter and false promises of becoming super-star singers — just before he chloroformed them and then destroyed their eyeballs using molten lead in spoons.
THAT is the same psychopathy of Raychael and his #2 accomplice Holger Sochaus. It is a profound, deep disconnection from humanity.
What psychopaths fear most is public exposure; presumably, this is because they inherently know there is something deeply wrong with them, and they are afraid of being found-out by the tribe as the ramifications can be quite grim.
Filing fraud cases and publishing the data is the surest way to cause reaction that may lead to recovery of funds.
Link to Telegram group: "Stable Fund Investors Action Group" (Aischylos) -- group temporarily private (26 May) due to flood/attack, per Aischylos (channel owner) here.
Link to Telegram group: "DEFI Criminal Investigation Group"
Link to discord server: "Coffee & Crypto"
Update 23 Feb 2023 --
From Aischylos on TG
Announcement: Team, if you raised already cases in your countries and received a case number, please forward this via DM to me (Aischylos) and provide me also please the country name. We proceed currently also with further actions in the background. Update will follow soon. In addition for everybody: DO NOT wait on a refund based on false statements, claimed in the official SF announcement TG channel. Go to the authorities and raise a report. Thank you!
Announcement: Dear Team, thank you for the support and the positive voting on the donation wallet. This is highly appreciated from everyone involved in legal actions! Please note again this totally free and if you want to help, the amount is up to you. Neither is this needed to get further updates from our channel, we work here all together and the funds are only to cover actual costs in any case. If you like to donate please send BUSD to this wallet:
StableFund Investors Action Group on Telegram --
Donation wallet to support legal action (send BUSD/BSC(BEP2)):
0xDF9cCef018b0bd045d67729d1a1cD4B1999713a1
THANK YOU ALL!
First Charged Criminal Fraud Case Involving a DeFi Ponzi Scheme
Crypto Criminals can be prosecuted, brought to justice -- FILE YOUR COMPLAINT IN YOUR COUNTRY NOW -- this has proven to be the only action that has caused any reaction by the criminals.
Update 21 Feb 2023 --
Another case raised: UK: NFRC230205685156
Group effort noticed by the thieves.
"I am working behind the scenes to get these funds released so they can be paid out." -- No doubt this is 100% true; however, the lie-by-ommission (typical of psychopaths), is who gets the payout... in this case IT WILL NOT BE THE INVESTORS.
StableFund and it directly-related, confidence-building precursors amount to a long-con, well-coordinated fraud involving at least two pathological liars.
KEEP REPORTING FRAUD, this is the only reasonable action that will cause results.
Nothing else done so far by anyone has generated such response from the thieves.
- Fake black-cab wraps.
- Fake identity.
- Fake passport.
- Contract drained - principle funds stolen.
- "Earnings" kept; never any "fiduciary wallet"; no refunds of substance.
- Delay after delay; lie after lie.
- Holger Sochau ("Hells"/"HellsCrypto") deleted half his TG posts, presumably to minimize his apparent extreme involvement in the planned sham: Proof: https://fairweb.com/stablefund/
Update 09 Feb 2023 --
SWISS Cyber Crime Department: RNR 76211
posted by Aischylos on Telegram
RE: Involvement of Holger Sochau (AKA "Hells", "Hells Crypto")
- Hells was named second in command twice at least, in an AMA and in SF TG. Hells went along with this seemingly happily.
- Hells acted like second command, by leading most AMAs and handling requests to deal with people's wallet issues, etc.
- Hells went through SF TG after it closed deleting his own messages.
- Hells was in his own right an experienced trader.
- Hells agreed with stuff Michael did like the identity theft, even backing it up as legitimate at the time, later to laugh about it in the final AMA as if it was a joke and obvious to everyone.
- "Raychael Kiedos" gave Hells' quitting as the reason to ultimately shut SF.
- [All information indicates intimate collusion between Raychael and Holger; no info is contraindicative.]
posted by Korgorath on Telegram
Update 03 Feb 2023 --
Everyone needs to raise a case, including you. Just to give up or count on other people doesnt help you nor others.
If you raise a case to your local authorities you can refer to the following cases:
Aischylos, [25.01.2023 23:04] // UK: NFRC230105597495
Aischylos, [25.01.2023 23:05] // Germany: LKA Niedersachen, Hannover 202300072360
Aischylos, [25.01.2023 23:06] // Bahrain 9866/2022
Aischylos, [25.01.2023 23:07] // USA: FTC case number 155537280
Aischylos, [25.01.2023 23:07] // UK NFRC221205580184
Aischylos, [25.01.2023 23:07] // UK NFRC230105603536
Aischylos, [25.01.2023 23:07] // UK: NFRC230105625620
Aischylos, [25.01.2023 23:08] // UK Compliance and Targeting Team The Insolvency Service Investigation and Enforcement // PV/0173/2023 - MH
Aischylos, [25.01.2023 23:09] // UK crime ref no: 35/5655/23
Aischylos, [25.01.2023 23:09] // US: NFRC230105627088
We can provide only limited evidence, since those are first provided to the authorities. That being said: Donation are totally free and up to you. I am doxxed to Mike, he received from me everything and he is happy to confirm what I claim here. Mike is the owner of the Brewed Crypto Discord. Feel free to chat with him https://discord.gg/brewedcrypto.
Announcement: Confirming, Canada officially raised a case: CAFC Reporting // Complaint Reference no. 2023-6841
posted by Aischylos on Telegram
Update 13 Jan 2023 --
"Major announcement: As of today I can confirm that the Cyber Crime Department in Germany received a full criminal complaint. All necessary documents have been [processed] by our attorney. As soon as the authorities provide a case number, this will be shared as further reference to everybody." -- Aischylos on Discord
Update 12 Jan 2023 --
https://www.youtube.com/watch?v=3xVZdmsPspw
Update 7 Jan 2023 --
Truth About Ray/Michael, The Owner of Stablefund