British Columbia Securities Commission Issues Investor Alert On DFRF Enterprises Or Other ‘Companies Associated With Daniel Fernandez Rojo Filho’
URGENT >> BULLETIN >> MOVING: (Updated 6:30 p.m. EDT U.S.A.) The British Columbia Securities Commission has issued an Investor Alert on “DFRF Enterprises LLC, DFRF Enterprises Ltd., or other companies associated with Daniel Fernandez Rojo Filho.”
This appears to be the first such warning about DFRF in North America.
The claims associated with Rojo Filho and the enterprises are “economically impossible,” BCSC warned.
“Several” of the claims are “characteristic of investment fraud,” the agency warned.
From the Investor Alert (italics added):
The BCSC has become aware that Filho is offering investments to British Columbians with returns of up to 15% per month. Filho is also promising that DFRF will soon be listed on a public stock exchange, after which the value of members’ investments will triple within 30 days. Members will continue to receive up to 15% per month on their investment. These returns are economically impossible. Also, when selling securities, it is illegal to represent that those securities will be listed on an exchange without certain conditions being met.
Other claims being made by Filho include:
- investors’ principal is guaranteed and safe
- investor funds are held offshore
- he manages $144 billion in assets
- the company is extracting ten tonnes of gold per month from its mining properties in Mali, Africa
- 25% of the profits are donated to social and humanitarian causes
- existing members who refer new members are paid commissions of 10%
Several of these claims are characteristic of investment fraud. The BCSC urges investors/members, sales agents, or members of the public who have been approached or have information about DFRF Enterprises LLC, DFRF Enterprises Ltd or Daniel Filho to contact the BCSC inquiries line at 604-899-6854 or 1-800-373-6393 (toll free).
The PP Blog first wrote about Rojo Filho five years ago this month, reporting on his alleged role in a Ponzi scheme known as Evolution Market Group/Finanzas Forex. His name next appeared on the Blog in January 2015, in the context of DFRF, another high-yield scheme.
In February 2015, BehindMLM.com reported that DFRF had been sued in Massachusetts under the racketeering (RICO) statute.
Whether DFRF is under investigation by U.S. law enforcement is unclear. Two days ago, the PP Blog sought comment on DFRF from three U.S.-based law-enforcement agencies. None responded.
Earlier on Monday, BehindMLM.com reported that DFRF had dropped the names of the SEC and the FBI in a YouTube sales pitch uploaded in December 2014.
DFRF reportedly operates out of Florida and Massachusetts. The BCSC warning specifically referenced the city of Orlando, Fla.
The enterprise also claims it operates out of Vancouver, B.C., BCSC said.
On Monday, the PP Blog observed a DFRF video in which a presenter talked about “gold,” “humanitarian social projects, a “letter of credit,” a “global note,” a “master bond,” “insurance” and a purported guarantee.
Such a presentation leads to questions about whether DFRF is a hybrid mixture of a “traditional” HYIP, a prime-bank scheme and a shiny-object scheme.
