It appears Engofor formerly known as CryptoCoins Invest has finally landed into trouble with the Dutch Authority for the Financial Markets (AFM).
The bank account of the Ponzi scheme has been frozen by banks in the country. Its investors are now in a panic mode after learning their funds might be going with the wind.
AFM has acknowledged it is investigating Engofor but has not released any details about its findings.
As a damage control, Engofor has released an official statement claiming it does not understand why its accounts was frozen by its banks.
See below the official statement by its management:
We receive a lot of questions regarding the status of Engofor and our bank accounts.
At this moment we do not have any new information yet, but be assured: we are working hard on a solution.
We need time to provide the banks and AFM with the requested documents and certificates, as they will need time to process it. Banks are not familiar with our business model, so this will take more time than usual. However, they seem willing to cooperate.
At this moment our highest priority is the pay out of the withdrawal requests. We are doing our utmost best to make this happen as soon as possible, but cannot give you any timeframe on that.
Engofor CryptoCoins Invest is registered as Engofor B.V. in the Netherlands by Diego van der Veen. On the corporate information page, he described himself as ” I am responsible for all decision-making processes. Because of our permanent team of experts, I can spend most of my time on successfully dealing in currency among other things”.
The future of Engofor is becoming more shaky with the latest twist to its existence. Back in December 2016, CryptoCoins Invest was said to have crashed but the management denied it saying:
“To our dismay we realized that the hackers have caused more damage to the CCI network than we initially thought.
They succeeded to manipulate the system that there are now quite a number of accounts at another final balance than expected.
This, both positively and negatively. It has proved impossible to recover the data.”
The following weeks will reveal what will become of a mega Ponzi scheme that might leave many of its investors penniless.