Is Monaco Visa Card A Scam? The Ensogo Dudes Are Running Monaco !!

[JollyGood]

https://steemit.com/monaco/@montehansen/beware-of-monaco-visa-ico-s-management

The press release states:

Beware of Monaco Visa ICO's Management

I think I can kiss my meager ETHer investment good bye fortunately mine was merely a test transaction. I suspect others that read this won’t be so lucky.

My wife's spidey sense first tingled when going through the token purchase process on their website and was advised that residents of USA, Singapore, India and Hong Kong are excluded. During a chat session they would not say why or otherwise comment. I chose to ignore the question and indicated that NO I was not a resident of these countries and purchase a small sampling. Now my wife’s spidey sense was really tingling and I decided to dig much deeper.

Turns out the CEO of Monaco, Kris Marszalek, and 2 of his other senior executives held similar positions in a the company Ensogo. This company was forced to shut it doors middle of last year (2016), and suspended by the Australian Securities Exchange (ASX). They are being investigated for fraud and there are many looking to collect.

“On June 21, 2016, Ensogo announced that it will shut down all South East Asia operation (including Hong Kong) and its CEO Kris Marszalek has resigned;”
"it also requests ASX to suspend shares trading. The unprecedented shutdown affected operations in several countries; workers in Singapore found the office was closed, Hong Kong sellers call for police investigation of fraud and certain stores in Thailand rejecting deals purchased by consumers, though the Consumer Protection Board is expected to summon Ensogo executives for remedial issues."

Wow. Monaco raised a mind-boggling $26 million in its ICO just over a year ago and gave nothing apart from an iphone/android exchange app that any Indian or Chinese dev could make for a few hundred dollars and a purchase of the crypto.com domain name for several million dollars.

These people with highly questionable pasts are enjoying the high life on the investors money  

Over a year after the ICO still no VISA cards have been shipped out. Such a shame investors were duped in to this ICO.

[Strufmbae]

what i know is, if a project developers/staffs/managers/ and all who is part of it, that does not keep their promise to the given time, it is SCAM.

for example : An ICO project is launched and then the whitepaper does say that if the ICO fails they are going to refund, and if the ICO fails the investment should be refund on exact date promised, if not. then say goodbye to your money. better luck next time.

[torai]

The investors aren't disappointed anyway, we bought the tokens for $1.1 and sold them for $20 in September 2017. And we're happy.

[JollyGood]

The investors aren't disappointed anyway, we bought the tokens for $1.1 and sold them for $20 in September 2017. And we're happy.

Those who purchased tokens and put them on hold for the higher rewards cards might think otherwise. You are not an investor you are an ex-investor so you being happy or sad means nothing.

Those that invested in MCO when the price was riding high near $20 and find it now at $7 might well be frustrated at the fact these people running Monaco still have not launched a product that people can use and generate money a year after the ICO.

Even if they launch the card and have a working product it sounds like a scam to me because it costs way less than a million to launch your own prepaid VISA card business and these people with questionable pasts especially (CEO of Monaco) Kris Marszalek had access to $26 million raised in Ethereum from the ICO at the time in mid-2017 but that would have equated to around $ millions more in January 2018 when the price was sky high even after "development" and "admin fees"

Wow this has scam or semi-scam written all over it 

[JollyGood]

[JollyGood]

Failed CEO Kris Marszalek and his Monaco "team" should be ashamed of themselves.

The Monaco VISA project has made failed CEO Kris Marszalek and his "team" millionaires with 15 million of the 31 million MCO tokens created for themselves as Founder tokens.

These scammers had $26 million in the ICO money yet they took over 19 months just to get a few cards to customers in Singapore. Pathetic.

Many investors are selling and moving on to other crypto even though they made huge losses from selling their MCO tokens.

Investors lost faith and interest because of delays and because of the censorship at Discord and Telegram and the self-moderated thread here.

Even if in the coming weeks they send the cards out in other countries they have been damaged by the delays and bad PR.

Shame on the Monaco "team" headed by failed CEO Kris Marszalek. The project is in trouble with all its CRO hype trying to create a distraction and clutching at straws.

The Monaco VISA scammers have locked their Monaco [ANN] thread and called it "NULL" because want to drown out voices that disagree with them and publicly question their business ethics and tactics:
https://bitcointalk.org/index.php?topic=1926269.0