Berlyft, LLC — bitcoin mining investment company
March 3, 2018 - I was contacted by Ayoola Onasile, owner of Berlyft, LLC, about investing with his company that "allegedly" offered investment funds that were backed by Bitcoin mining machines that processed Bitcoin transactions and offered a 30% return on a monthly basis. Mr. Onasile was an associate I went to school with and had worked with in the past in another business, so I trusted that he was being honest and had a legitimate business.
March 6, 2018 - Met with Mr. Onasile at his office at 50 Harrison Street, Hoboken, NJ 07030 to sign the Contract to invest the Alpha Bitcoin Cryptocurrency Fund. We executed the contract and I gave him an initial deposit of $1, 000.00 to purchase an initial share, as per the contract. I also, believing that Berlyft LLC was a reputable company, recommended my brothers to invest in the company. As per the contract, we were supposed to receive our first payout on 8/1/2018.
March 14, 2018 - Deposited $5, 900.00 into the Berlyft LLC Capital One Bank account (Account # [protected]) $2, 000.00 for 2 additional shares, $2, 000.00 for my brother Eduardo Jordan, and $1, 900.00 for my brother Joseph Jordan for 1 whole share and $900.00 as a deposit for 9 additional shares that would be purchased subsequently totaling $9, 000.00.
March 28, 2018 - Mr. Onasile alleged all 100 Shares in the fund were sold out. Mr. Onasile claimed that additional miners were being purchased to generate more revenue for the fund and to ensure payout would be made on 8/1/2018.
April 23, 2018 - Mr. Onasile asked me to build a website for his company for which the compensation would be 2 additional shares from the 5 shares I bought for the work totaling 7 shares valued at $7, 000.00.
May 11, 2018 - Berlyft LL website completed and marketing materials designed as agree to with Mr. Onasile.
July 26, 2018 - Contacted Mr. Onasile to get an update as payout date was coming up on 8/1/2018.
July 28, 2018 - Mr. Onasile sent an email claiming payment would be made late but still in August.
August 28, 2018 - Followed up with Mr. Onasile to find out what was going on with investment and advised him that, as per the contract, my brothers and I were requesting a refund of our initial investment.
August 29, 2018 - Phone conference between Mr. Onasile, myself, Joseph Jordan, and other investor named Wendell to discuss current status. Were told that Mr. Onasile was working on getting funds to buy a generator to power the 38 bitcoin mining machines because original generator was defective and had to be returned. No accounting was given of what our funds were used for. Basically, we were told that Beflyft LLC and Mr. Onasile did not have the money to issue a refund at that time. We were asked to give him 30 days to either give us the 2 months worth of payouts that were due or to refund all the initial funds invested as per the contract.
September 10, 2018 - Conference call with Mr. Onasile with investors to discuss status of our investment. Mr. Onasile claimed his company was pursuing capital through investors or crowdfunding to raise $250, 000 to buy generators and pay the monies due to the investors in the Alpha Fund. No set date was given when funds would be returned. But follow up call to update was supposed to be made. Certain earmarks of a Ponzi scheme were becoming apparent.
September 21, 2018 - Requested full refund along with other investors. Reminded Mr. Onasile that the due date for the refund to myself, Joseph Jordan, Eduardo Jordan, and Wendell were due on 9/29/2018 as agreed upon on 8/28/2018.
September 24, 2018 - Sent refund request via email to Mr. Onasile as he requested.
To date there has not been any communication from Mr. Onasile regarding the refund of our monies and he refuses to accept any calls.