Benjamin Herzog’s 23 yr previous ex-girlfriend has testified within the EXW Pockets legal trial towards him.
Herzog was indicted and arrested on EXW Pockets associated fraud expenses in August. His legal trial in Austria started in September.
As reported by Der Commonplace on November fifteenth, Herzog’s ex-girlfriend claims EXW Pockets took place in 2019, following
conferences on a Klagenfurt roof terrace the place her ex and his cronies made plans for “one final thing” to get wealthy collectively.
When requested if EXW Pockets was designed to be fraudulent from the beginning, Herzog’s ex-girlfriend answered, “Sure.”
Herzog (proper) would later rebut his ex-girlfriend’s testimony, claiming EXW Pockets’s
thought and the implementation weren’t deliberate as a fraud … however in some unspecified time in the future he realized that “it may well’t work that method and it’ll finish in fraud.”
EXW Pockets was an MLM crypto Ponzi scheme that pitched day by day returns of as much as 0.32%.
Following securities EXW Pockets fraud warnings from Germany and Austria, Herzog categorically lied to buyers to maintain the Ponzi scheme going.
It’s additionally unclear how one can launch a mathematically unsustainable Ponzi scheme after which retrospectively declare it wasn’t “deliberate as fraud”.
Testifying on what life was like with Herzog throughout EXW Pockets’s run, his ex-girlfriend
talked a couple of luxurious life with events, champagne, luxurious watches and automobiles, flights, resorts, eating places, but additionally desks price 15,000 euros every for the Klagenfurt workplace or EXW occasions to draw new prospects.
She then lived with the principle defendant in a villa in Thailand. Month-to-month lease: 15,000 euros.
She additionally testified how the principle defendant enriched himself from the cash invested by prospects: “He all the time had entry to the accounts and wallets, and when he wanted cash, he merely transferred it to his personal pockets.”
To do that, he would have used a form of “Bitcoin mixer” .
Yeah, positively not deliberate fraud although.
Following European EXW Pockets regulatory fraud warnings, Herzog and his ex-girlfriend fled to Dubai.
Her companion on the time turned increasingly more nervous, he was afraid of the monetary market regulator and the police.
He persuaded her, then seven months pregnant, to maneuver with him to Dubai, the place they lived once more in a big luxurious villa.
Regardless of the transfer, the scenario remained tense as a result of funds stalled: “The purchasers have been respiratory down his neck.”
There have been dangerous critiques on the Web and preliminary damaging media studies. “In some unspecified time in the future he mentioned there wasn’t a lot of the cash left and he was getting out now.”
The connection lastly broke down on a trip collectively in Bali.
Austrian authorities declare Herzog and his accomplices stole not less than 17.6 million euros by means of EXW Pockets. Herzog’s ex-girlfriend has pegged investor losses at nearer to 80 to 120 million euros.
Herzog’s questioning is scheduled to proceed in early December.