Complaint Review: CIRCLE SOCIETY -- DAVID SAFFRON - Hollywood, Las Vegas California, Nevada

David Saffron is the Con Man here.   He is currently promoting his con under the name "Circle Society."  Other names he has used in the past are:  "Bitcoin Wealth Management" and "The Omnicon Trust."  He promises outlandish returns in very short periods of time.  (There are too many opportunities to identify individually and they are constantly changing)  

The con usually starts with the attactive offer, often with a limited time window to create urgency.   For instance, invest 1 Bitcoin and Circle Society will automatically match your investment.  Then he offers around 50% Return on Investment on top of that to be paid out about 30 days out.  So it sounds easy, just invest one bitcoin, you automatically get another, then with the 50% return, you turn 1 BTC into 2, then shortly into 3 BTC in 30 days!  Sounds easy, right?  WRONG.  He takes your coin, and your coins will show in your account and payments may occur very briefly, but then it all stops and you are held helpless to recover your bitcoin.  

The latest round of investors started up again in February of 2019.  Payments were consistent for a few weeks, which gained investor trust and the promotions grew and a lot of people invested even more bitcoin, and Circle Society stopped paying out again.  It is a complete scam.  

After he gets the Bitcoin, he might pay for a very brief period, then come up with some excuse as to why payments are being restricted from going out and you never see another payment.   He has used a lot of excuses as to why he cannot pay out.  He has blamed hacking attacks, bitcoin blockchain transactions being clogged, problems with bitcoin exchanges, even the ever so famous "Solar Flare" incident.  He tries to be creative, but the excuses are really just a ploy as to why the non-payment are never his fault.  

He also likes to use some sort of chat room or live feed to communicate with investors, but these lines of communication are laughable.  David Saffron constantly monitors these feeds and deletes comments he does not approve of and kicks people out who begin to question the legitimacy of the group or ask too often when they can get their accounts paid.   He often closes the live feed when too many people chime in asking about payouts. 

Circle Society even creates false member accounts who act as cheerleaders in the group who offer words of praise to David Saffron and Circle Society and how incredible the current bitcoin promotion is and other fake accounts that say they received a payment in an effort to legitimize their bogus operation.  But again, when the feed is overwhelmed by the masses of investors demanding payments, they often closed for Staff Meeting or simply shut off the feed so no one else may write in. 

Ironically, usually before the feed is shut off, one of the CS fake/planted accounts sends out a message of praise and thankfullness of being a part of this amazing opportunity and how it will change lives.  All the while, hundreds and hundreds of investors sit helpless to recover the investment.  

He has operated since early 2017.  The early investors have forever been promised returns, but only a handful have ever recovered even 5% of their initial investment.  Some have sued, and gained settlements, but then he doesn't pay the settlements anyways and they have to file suit again, much like the current lawsuit filed in Los Angeles County in California.   There are a few other lawsuits outstanding against him regarding this same scam, although the names he uses may change. 

There are also a lot of lawsuits planned by the investors he has conned.  He is also currently being investigated by the CFTC, the Cryptocurrency Futures Trading Commission, but this process is slow and too little is being done to prevent him from scamming more people out of millions.   One can only hope this entire group is rounded up and criminally charged for their crimes.  Even the staff would be criminally charged in this scam as they assist David Saffron in continuing to con people out of cryptocurrency so eventually I am fairly confident many of them will be in jail at some point if investors do not see returns very soon.   

Maybe one of them will become a whistleblower and cut a deal to save themselves and assist the proper authorities to return investments to the proper owners.  But even then, it is usually only the first employee that comes forward to get any kind of deal and sometimes not only do they get a deal, but they also get a handsome reward.  

This Ripoff Report will not do much to help the many people who have already invested as they have already been conned by this scam with little hope of getting our investment back, but hopefully it will help to prevent others from turning over bitcoin or any money or any cryptocurrency into this scam.   If you are considering investing with David Saffron, Circle Society, Omnicon Trust, Bitcoin Wealth Management my advice is simple.  Do not do it.