Recently a scam cartel named Bank Bene Merenti which runs fake YEM coin, made an outrageous claim stating: “The YEM Foundation announced which is sovereign recognizes the YEM as its official currency…”.
In reality, YEM Foundation is a non-profit organization registered in Nevada, USA without any physical office. This non-profit does not have any legal right to declare anything as its official currency.
According to information, Bank Bene Merenti and the YEM coin cartel is running under the umbrella of another entity named ‘YEM Foundation’, a domestic non-profit corporation registered in Las Vegas, Nevada, the USA as a non-profit company. Company Number: E0553072017-8. Native Company Number” E0553072017-8. YEM Foundation does not have its own office in the US. Instead, it uses a virtual office address provided by a company named PHYSICALADDRESS.COM.
Our investigative reporter in the US has already checked every detail of the YEM Foundation, and found that the YEM coin and Bank Bene Merenti scam cartel is using this US non-profit as a shield of their criminal activities. It is also learnt from credible source that hundreds of millions of cheat-fund of Bank Bene Merenti, YEM coin, Dan Settgast, Jorge Sebastiao and other members of YEM Foundation scam ring is secretly deposited in various offshore accounts with the help of the Nevada-based company that provides virtual office address (304 S JONES BLVD, Las Vegas, NV, 89107) to this cartel.
READ: Jordanian DJ in Dubai scams people through YEM coin, sends cash to Hamas
It is also learnt, Jorge Sebastiao, real name Nuno Jorge Da Cruz Sebastiao, a British national is the President of YEM Foundation and one of the top kingpins of the Bank Bene Merenti and YEM coin scam cartel.
It is easily understood Dan Settgast and Jorge Sebastiao along with other members of ‘YEM Foundation’ are fooling millions of people around the world through a bogus YEM coin as well as a scam vessel named Bank Bene Mereniti.
It may be mentioned further that there is no country or sovereign entity in the world named ‘Bene Merenti’, except for a foundation named ‘Sovereign Order Bene Merenti’, which has no connections or links with the Bank Bene Merenti scam cartel or its bogus YEM coin. ‘Sovereign Order Bene Merenti’ is an association or foundation registered on December 29, 2005 in Riga, Latvia. Its registration number is 40008097119. Its postal address is Lielirbes iela 6 – 92, Rīga, LV-1046 and Certificate of Registration number is B011805, dated July 30, 2009.
According to Latvian authorities, ‘Sovereign Order Bene Merenti’ organization does not exist since 2019.
Bank Bene Merenti scam cartel in Dubai
According to information, while hundreds and thousands of people in the crypto world already are feeling horrified at the serialized investigative report published by this newspaper exposing notorious scamming acts of Bank Bene Merenti, YEM coin and Dan Settgast, our investigative reporters have found extremely shocking information. Based on our information, authorities in the United States, including the Federal Bureau of Investigation (FBI) as well as authorities in the United Arab Emirates and other African countries should initiate immediate investigation into the matter and bring criminal charges against each of the members of this grand scam cartel.
Dan Settgast is one of the kingpins of the scam cartel named Bank Bene Merenti, which has been robbing-off hundreds of millions of dollars through fake YEM crypto by fooling people through false claims and well-orchestrated propaganda. By pretending as an affiliate of the Bank of Japan, this scam cartel is mainly cheating people from Uganda, Ghana, Gabon, Tanzania, Nigeria, Kenya, Gambia, Ethiopia, Congo, Sudan, Angola, Burkina Faso, Mozambique, Cameron, Madagascar, Mali, Malawi, Senegal, Chad, Somalia, Zimbabwe, Rwanda, Guinea, Benin, Burundi, Tunisia, Libya, Egypt, Sierra Leone, Togo, Central African Republic, Liberia, Mauritania, Eritrea, Botswana, Lesotho, Guinea-Bissau, Mauritius, Eswatini, Djibouti, Comoros, Cape Verde, Seychelles, as well as South Asian countries such as Bangladesh, India, Pakistan and Sri Lanka. According to credible sources, this racket has also expanded network in the Philippines, Indonesia, Malaysia, Lebanon, Jordan, Oman, Bahrain, Syria and UAE.
READ: Bank Bene Merenti scam cartel loots hundreds of millions of dollars through fake YEM crypto
Meanwhile, Dan Settgast, one of the masterminds behind bogus YEM coin and fraudulent Bank Bene Merenti and YEM Foundation is trying to open an office of this dangerous scam cartel in Dubai with the active help of his cohort named Jorge Sebastiao, real name Nuno Jorge Da Cruz Sebastiao, a British national is the President of YEM Foundation and one of the top kingpins of the Bank Bene Merenti and YEM coin scam cartel.
This cartel also has already opened an office of one of its affiliates named EcoX in Dubai. Partner of Jorge Sebastiao aka Nuno Jorge Da Cruz Sebastiao in Dubai’s EcoX is Saif Al Naji aka Saif Al Sound, a DJ.
Authorities in Dubai also needs to initiate immediate investigations into fraudulent activities of Jorge Sebastiao aka Nuno Jorge Da Cruz Sebastiao and EcoX and take due legal action against these scammers.
