Wednesday, August 23, 2017

Investors Alert: Project Populous - A project to enrich Stephen Williams/ Steve Nico Williams by fraud


Steven Williams/ Populous | Fraud ending up a as SCAM, or was it a SCAM all the time?

The Populous Project is a trade finance and invoice platform built on the most recent block chain technology. The platform is based on the ethereal backbone and features units known as Pokens. Stephen Williams (CEO), John Morton (big data scientist) and Zvezdomir Zlatinov (CTO) lead the project. The three have project knowledge they had gained from the year they were in cryptocurrency industry. Populous uses smart contracts, Score formula, XBRL and stable tokens thus creating a unique trading platform for sellers and investors all over the globe. The platform is already 90% developed with clients already lined up. Financial projection depicts that Populous is set to be a bubble in the invoice trading industry. 

Who is Stephen Williams/ Steve Nico Williams?

According to the LinkedIn profile, Stephen Williams (CEO) has a bachelor’s degree in Philosophy from the London Metropolitan University. In addition, he is the publisher of Tramp magazine and the founder of Olympus research. Stephen Williams has a background in upper management in SAS and veteran smart contract developers and blocks chain analysts back up Experian. Stephen Williams Block chain start-up promises to lower barriers of entry potential investors thus allowing more accessibility to billings market. Moreover, he promised to eliminate many human factors that may be inherent to the industry. The Populous platform founders intend to reduce costs per transactions hence increasing liquidity available to institutions and individuals. 

Stephen Williams collecting funds through the Populous ICO 

The ICO was to start 16th July 2017 and will run for one month 16th August 2017. Investors are encouraged to invest in the project and by that, they support start-up founders. 53,252,246 units will be available for subscription. Project Populous have is putting 36,000,000 for sale. Token subscriptions are acquired through blogs, signature campaigns, and translations and in social media. Moreover, investors are encouraged to engage in bitcointalk on the project Populous. 

Stephen Williams first fraud: Changing the allocation of funds for self benefit

Stephen Williams’s Populous presale allowed investors to contribute early before the actual opening date for the PPT Sale. The Populous team advised investors to wire funds from their crypto currency exchange account. The transfer required investors to have an operational Ethereum account. If the Populous was legit, Stephen Williams could have advised clients to use trading account instead of Ethereum wallet. Investors who did not have a local ethereum wallet software such as Parity or Mist were advised to use the free web wallet. Earlier reports had suggested that web wallet was susceptible to hackers who had earlier siphoned bit coins worth millions of dollars. 

Stephen Williams blatant lying and ignoring users concerns

Stephen Williams advocates for investors to use the web wallet so that he can create an easier way to scam investors their funds. One week after the ICO an investor complained of missing PPT tokens. Stephen accused the investor of buying PPT token from the un-accredited seller who according to him (Stephen) was a part of the ICO. The Populous web platform is not safe, some addresses posted in the forum are not legit. Stephen Williams is doing little about them, it’s likely he is part of the scam since the slackbots are used to swindle investors of their fund.

Stephen Williams - Where did those 4 Millions tokens come from?

Unfortunately this not all. During the last couple of weeks where the ICO was finished, more and more shady actions has come to light. And probably will keep on coming. Naive as Stephen Williams is he will probably think he can get away with this. New tokens coming up, misuse of ICO funds etc. etc. Let's make sure he will not have time to do it. It's time for action.

Time for Action!

If you are an investor and are afraid that he will get away with this. Then we have good news. Report Steve Nico Williams to the authorities in the United Kingdom. Benefit fraud is a crime which is the UK police take very seriously and so are the penalties for this crime.

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