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Pastors Who Trade Bitcoin and Buy Lambos Exposed by Church Members

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  • Alex Dovbnya
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    SPAC Nation’s pastors who scammed students into taking loans to fund their crypto businesses enjoy a very lush life

Pastors Who Trade Bitcoin and Buy Lambos Exposed by Church Members
Cover image via www.123rf.com

SPAC Nation, the cult-like church for ex-convicts and gang members, is under fire after multiple former members accused its pastors of financial fraud, The Huffington Post reports.

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Toye-Mary Sofidiya, one of the members of the church, said that it was a new and refreshing place, but she soon experienced exploitation by one of its pastors who goes by the name of George Jumbo. 

Jumbo became very close with Toye and started pressuring her into "making more money," according to their WhatsApp conversation that was obtained by HuffPost. Later, he started boasting his cryptocurrency trading business that made him piles of cash. 

Toye would often hear how other church members discussed crypto and how they were able to make top-dollar with the help of crypto trading. This made the story credible, and Toye, who was struggling financially at that time, was desperate enough to agree to take a loan in order to start her trading business. 

“I feel like they took advantage of me. I feel like I was deceived, lied to because they knew I trusted them.”

All her loan applications got rejected, but she was careless enough to trust Jumbo with her personal information (address, bank account, sort code). Hence, he was able to trick Toye into becoming a guarantor for two $5,000 loans. 

“A loan was taken out in my name. This is clearly an indication of fraud, identity theft and a breach of the GDPR legislation and the Data Protection Act.”

When she approached Nikky Odutayo, a senior female pastor whom she still trusted, but she actually claimed that she was supposed to take a loan with her instead of other pastors. 

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Toye left SPAC Nation after the incident, and now she claims that they operate as a unit. Multiple other students have come forward to expose how the church takes advantage of their vulnerable position to fund the lifestyle of its pastors. SPAC Nation’s pastors were reportedly driving Lamborghinis and wearing Louboutin shoes.           

“To say that this is an isolated incident would be ignorant, they are a unit.”

SPAC Nation is currently under investigation for fraud with Croydon Tories’ leader distancing himself from the church in the wake of the scandal. 

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with an extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets.

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Bitcoin Is Classic Pump-and-Dump Scheme, Says Peter Schiff

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  • Alex Dovbnya
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    Gold proponent Peter Schiff thinks that Bitcoin evaporating its 40 percent pump proves that it's a pump-and-dump scheme

Bitcoin Is Classic Pump-and-Dump Scheme, Says Peter Schiff
Cover image via u.today

Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

Contents

Euro Pacific Capital CEO Peter Schiff has come up with a new insult for Bitcoin, calling it "a classic pump-and-dump scheme."

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Peter Schiff Reacts to Sudden Bitcoin Price Drop:

"You're being played"

Schiff continues to assert that Bitcoin's 40 percent pump on Oct. 25 was the result of price manipulations. The fact that Bitcoin's has completely trimmed these gains in just four weeks definitely flies in the face of bulls.

The gold bug explains that the pump was meant "to sucker in" momentum buyers to dump their bags later. This is supposed to be a wake-up call for all buyers.

Earlier, Schiff lambasted Bitcoin holders for not being able to see through the shenanigans of whales who are selling their coins on the verge of a major price.        

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Bitcoin Price Could Drop to $2,000 or Even to $200, According to Peter Schiff

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Other bears are waking up 

Mark Dow, the trader who famously shorted Bitcoin at its current all-time high, recently resurfaced on Twitter with a succinct "Bitcoin is dying" tweet, which came in handy right on the verge of Bitcoin's drop to the $7,500 level.     

While some bulls might be tempted to dismiss Bitcoin price moves recorded on the lower time-frames as "noise," the long-term picture is also gloomy. As reported by U.Today, crypto market analyst Willy Woo opined that Bitcoin might not replicate the success of previous halvening cycles due to its unusual bearishness. 

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with an extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets.

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