Indigenous people, indebted by Cryptocurrencies

Ecuadornews:

Earning high interest by investing your money in the digital platform Bit Trader or Banco del Futuro delighted peasants, indigenous people, merchants, workers and housewives from Cotopaxi and Tungurahua. 

The alleged gains in cryptocurrencies or virtual currencies, such as bitcoin, lion and turbo 2, would be invested in medical operations, home expansion, purchase of merchandise, study of children and other projects. The spouses Marlene Cuchiparte and Juan Chuzin bet for one of these purposes, after obtaining a loan of USD 10,000 in a cooperative in Ambato. The couple, from the Chicho Caucho community of the Zumbahua parish in Pujilí, divided those resources into two parts.

With 70% he bought merchandise to make sports shoes and the rest he used for cryptocurrencies. They gave USD 3 000 to a consultant named Rocío Lojana, to receive 3 600 in 10 months. The transaction was carried out in a house in northern Latacunga, in July.

The supposed profits would serve to cancel a part of the USD 7,500 that Chuzin needed for the open-heart operation. One of its valves was failing since 2014 and dizziness, chest pains and nosebleeds became frequent. “In September we started calling Rocío for the profits, but they told us to wait because they were buying the electronic wallet and the card. We went to the house where we left the money, but he no longer lived there and we worried because more people told the same thing, “said Cuchiparte.

Her sister-in-law Hilda Chuzin and neighbor Hilda Suárez gave USD 2,000 and 1,500, respectively. The Indigenous and Campesino Movement of Cotopaxi (MICC) denounced on Tuesday that 800 comrades from the communities of Pujilí, Saquisilí, Salcedo and Latacunga would be affected. “We already know who are the leaders, who deceived us and convinced us to invest and have profits with bitcoin.”

We want the money back, “said the affected Jorge Toaquiza. In total, there are about 1 500 affected in nine cities. The farmer of the Quidigua community of the Angamarca parish in Pujilí sold a five-door car for USD 15,000. All the money went to the Bit Trader consultants in June.

They raised between USD 100, 500 and 1,000 to pay interest from USD 300 to 3 600. The alleged profits were reflected in digital platforms, such as Siembra y Cosecha and My Trader Coin.

In addition, they gave them credit cards. The delay in the delivery of the document that would allow them to withdraw the money worried the brothers Luis and Leonel Chazo from the Guangusig Bajo community, belonging to the Pasa parish, in Ambato. They gave their money to their friend Sofia Chipantiza, who was recruiting for the investments.

When they asked for the payment of interest by telephone, the answer was always negative and they even had to travel to Quito to look for it. When he found her, he told them that she (also invested) and the other people recruited were scammed. There were neighbors and relatives of Chipantiza, who live in the communities of Cuatro Esquinas, San Fernando and the center of the parish. Luis Chazo gave USD 2,500 of the 3,000 he received from a loan. With the interest I would earn in the virtual currency I was going to expand the house.

There he would place the sewing machines, tables and shelves with which he makes shirts. With the USD 500 he made the bases where the walls and columns of the room were going to go. “I trusted a supposed friend who offered to earn interest in the talks she did in the parish and in the Ambato center.”

Other affected sold cattle, land and mortgaged houses in financial entities of Ambato and Latacunga, indicates the complaint of the MICC. The leaders of the Movement insist on the Cotopaxi Prosecutor’s Office to investigate those responsible for the massive fraud and illegal collection of money. For this they request to sign coordination and cooperation.

Leonidas Iza, president of the MICC, said that after the signing they will deliver five folders with information on the transactions, videos and photographs of those responsible and affected. “We have met with prosecutors from Quito and Latacunga, but we have no response.”

In context 

A network to raise illegal money to invest in virtual currencies was formed in the country, according to the complaint of the Indigenous and Peasant Movement of Cotopaxi. The injured gave their money to strangers, in exchange for earning high interest. (I)

Source: http://www.elcomercio.com/actualidad/indigenas-endeudados-criptomonedas-estafa-prestamos.html