Under pressure, Teemak breaks his silence over fraud accusations, says refunds coming in this September. The returns we were offering were high because the intention was to boost the equity of all the participants such that they’d be able to continue trading with better equity when the crowdfunding project ends.

Our crowdfunding project that started as a way to help traders raise capital for their trading accounts grew rapidly and turned into an investment opportunity. The project initially took off very well, with others choosing to withdraw their profits and capital and others deciding to compound their returns. Along the way, we started facing huge losses that we worked hard to cover up for but that only led to more losses until the project could no longer sustain itself.We requested more time and sent out a debt acknowledgement letter to all our participants giving them possible options to receive their money. The team and I went to work accordingly in order to deliver on the options we had given our participants. For a while, we were making progress until we ran into the same predicament of losses once more because as you all know trading is a delicate and shouldn’t be done under pressure.

The pressure was coming from disgruntled participants who had obligations to fulfil with their expected returns. The team and I failed to deliver and we had internal breakdowns within ourselves hence the communication with all our participants became vague which alarmed and frustrated everyone to the extent that they took matters into their own hands.