Hi People, I am subscribed to this Russian vlogger Real Russia and recently he has been advertising about this investment site Cashberry, what do you guys think about this company? some people say its some sort of scam but it also seems legit, im not a finance expert so I couldn't tell.
Also, im an immigrant here in Canada and im still not very familiar with some tax laws here, anyways, Do I still have to declare in my income tax the cash I earned from Cashberry if ever my investments have grown?
I'd avoid it like a gay AIDS victim with a boner and a pickaxe.
Firstly, Mr Balykov. Well I followed RR, even donating from the very beginning. Early episodes were really good. He had a professional cameraman editor partner, Sergei Grom. Anyway the 2 fell out. They'd moved to Moscow to do it seriously, but it seemed Balykov was pissing round and wound up back in Ufa. I got the feeling Balykov thought he was better than Grom and his colleagues, but during episodes it became clearly to me that it was Mr Balykov that lacked the talent. Anyway Balykov did an episode basically saying Grom stole "his" camera. The camera was crowdfunded tho, and it looked to me that Balykov was unable/unwilling to fulfill his obligations in the partnership, so Grom wanted to dissolve it and use the camera as an offset for Balykov failing to fulfill his own obligations.
Anyway things moved on. Balykov started doing more aggressive crowdfunding type stuff. And was getting successful funding. He's a great self promoter, but a terrible vblogger.
He was promising his funders "travels to more of the Real Russia". But he used the money to go to the USA on a holiday instead. Not so "real Russia" then! Lots of crap episodes followed. And more in your face asking for crowdfunding He continued doing vids like his little daughter selling a Russian mail order souveneir box. Ofcourse these vids cost zero. So he's obviously playing with people's dicks by pretending it needs crowdfunding. And his vids had gone from ok/sometimes very good, to basically utter rubbish. Stuff that would make watching paint drying seem interesting. He's ramble on about utter rubbish trying to make the plastic seats and paper serviettes in a sushi takeaway interesting.
Overall some of his vids got huge viewings, but after a while it was real also ran stats. Because he has no interest in his audience and doesn't bother to do any work. Strikes me as sociopathic and a chancer. So he was using his daughter to try and appear as "Mr Niceguy" to groom subscribers for Cashbery. Does this seem like a trustworthy guy to you?
Moving onto Cashbery proper. Well I'm in finance so I can detect a scam a mile off. I've even crossed paths with some mega financial scammers, like 200million dollar ones. Sadly the authorities seem to take forever to arrest them. Perhaps they use the money trails to lead them to other things. I can only speculate. For some unknown reason, the puppetmasters of Cashbery are hiding/haven't been arrested and the scam is going on unchecked. As pyramid schemes etc have been in the West.
Balykov is making his money thro what he calls "ads" but in truth he knows he's recommending what is obviously a scam. Cashbery doesn't file accounts or show real details of its loan book, so its all made up. Its a ponzi scheme. Any profits withdrawn are basically th next wave of investor inflows. As is always the case with these types of things. Now some early stage investors may get money back. But as to WHEN the company stops paying then that's anyone's guess. I think with money locked up, Cashbery is pretty much dead already. Its really sad to see all those people at Balykov's vids believing Scambery like its some sort of second coming of Christ. It truly uses the same methods as religious cults. Do you know any other "company" that has "investor gatherings" like that?
Cashbery has already refused to pay back as early as the start of this year. And it then started an extra layer of "locking your cash up" for x length of time, the usual bullshit. Balykov removed posts and links of "investors" who couldn't w/draw their cash/pretend profits. There's basically nowhere u can go when u eventually realise you are cheated, because its completely unregulated. And any authorities consider anyone investing in Cashbery or other Ponzis is just an idiot anyway. Do some Googling and you'll see the condemnation. Go to a legit regulator eg FCA in England or mainstream advice form eg Martin Lewis's finance site in England and they'll also condemn any Ponzi type operation. Same thing in Canada.
DON'T LET BALYKOV SCAM YOU!
Balykov is just a greedy little scumbag.