Cases / Investment funds & advisory
USFIA Inc
Steve Chen
This entry summarizes public reporting and government filings. Charges and civil complaints are allegations unless a court has entered a conviction or judgment — check the source for the current status.
- Company / entity
- USFIA Inc
- Industry
- Amber mining ventures (Argentina, Dominican Republic) and "Gemcoin" virtual currency
- How investors were recruited
- Multi-level marketing structure; participants earned more for recruiting others; investments $1,000-$30,000
- Pitch & red flags
- Claimed to own "several large and valuable amber mines"; holdings later converted into "Gemcoins," "a virtual currency secured by the company's amber holdings"
Pitch phrases from this case
- “a virtual currency secured by the company's amber holdings”
- “several large and valuable amber mines”
Source
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