Another cryptocoin scam isn’t something new, but the Alexandria Online Auction Fraud has links to Lev Parnas, and the court trial is scheduled to start in February, 2020.
The Alexandra Online Auction Fraud Network (AOAFN) made headlines in December of 2018 when a multi-national, multi-agency task force made simultaneous arrests in different countries. Among the 20 people arrested were Vlad Nistor, CEO of CoinFlux Services in Romania, and Rossen Iossifov, CEO of RG Coin in Bulgaria.
This organized crime gang operated, as the name suggests, by posting fake listings offering items for sale on Ebay, Amazon and CraigsList. The crook selling the item would use sob stories to talk buyers into prepaying for the item and then disappear with the cash. CoinFlux was used to launder the ill gotten gain by converting cash into cryptocurrency.
CoinFlux was created by Flux, a gaming company, which seemed legit when it started. Their cryptocurrency concept was to offer gamers a chance to earn cryptocoins for playing games.
So what does this have to do with Lev Parnas? Well, one of the advisors for Flux is Alex Bolbirer, the cousin of Lev Parnas. Small world isn’t it?
But it gets even smaller…
Cousin Alex joined the board of advisors for FLUX in March of 2018. Not long afterward, he began negotiations with Datawind Net Access, a company that manufactures and provides internet service. The plan was to have Datawind start manufacturing their tablets with the CoinFlux app pre-installed as part of its bundled software.
It just so happens that Alex Bolbirer owns World Free Communications, a company registered in the UK a month before he joined FLUX and WFC Ltd owns the marketing rights for DataWind devices in the Commonwealth of Independent States. His business partner in WFC is former Polish soccer (futbal) star Piotr Orlinsky, who is also an advisor for FLUX. Both gentlemen own, or have owned, stock in DataWind.
Curiously, WFC was also registered as an offshore Malta corporation in Kiev in 2014. It appears as part of the Paradise Leaks on the International Consortium of Investigative Journalists (ICIJ) website.
An already small world gets really, really small…
Lev Parnas owned the American rights for distribution of DataWind’s first device, the PC Edge Foundation. Edgetech.ru, Edgetech, and EGIL, were all companies registered in Florida for the marketing of the PC Edge.
Edgetech.ru was registered by Christine Bolbirer, the wife of Alex Bolbirer. The president of Edgetech.ru was Lev’s sister, Lyudmila Parnas Piker. In the PC Edge Foundation registration, Lev was listed as President and his address was the Trump Palace in Sunny Isles, Florida.
To complicate things, Edgetech owned shares of Datawind, and Datawind owned shares of Edgetech. The company went through name changes, stock symbol changes, mergers and acquisitions.
Considering Lev’s history and the history of Edgetech, the company was probably a pump and dump operation. In a pump and dump scheme, the goal is to generate interest in a company to drive up the price of the stock so big money can be made. In some cases, stock brokers are bribed to use illegal methods and mislead investors to get the stock sold. It doesn’t matter if the company is successful or goes belly up, the idea is to drive up the price of the stock.
In the case of Edgetech, Lev pulled off some great stock pumps. One year he got PC Edge devices included in the swag bags given to Academy Award nominees. He also got a promotion deal with the Miami Heat, though that one backfired and Parnas ended up getting sued by the Heat.
Most telling is when a company called Silverman and Minahan supposedly invested $3 million in Edgetech. Silverman and Minahan was a front for Cort Poyner, who had a history of stock fraud. A few years later, Poyner was arrested, along with the infamous Sandy Winick, in a multinational, multi-agency sting . Which sounds familiar doesn’t it? Another multinational sting. That brings us back to present day.
CoinFlux is now worthless. The FLUX website flux.fund went offline over Veteran’s Day weekend in 2019, this literally happened while I was checking out the site. Unless there is another postponement, the trial for Vlad Nistor and other members of the Alexandria Online Auction Fraud Network should begin next month. Several individuals have already pleaded guilty.
Within months of the arrest of the CoinFlux CEO, DataWind changed its name to Jeotex and all the officers of the company resigned except for one. It looks like the company is finished.
There is more to this story, and more stories to come, but suffice to say that Lev Parnas and Alex Bolbirer have not been indicted, and there is no indication they had any part of the Alexandria Online Auction Fraud.
The issue here isn’t Lev Parnas and stock fraud, nor his numerous connections to organized crime. The issues we should all be wondering about, are how could someone involved with organized crime pass background checks and get access to the president, and how could Rudy Giuliani possibly not know about the organized crime connections?
Links to supporting documents are below
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So please don’t send a hit man to ice us, bro.