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Hamilton Spectator
4 days ago
- Business
- Hamilton Spectator
‘It's all gone' — Cambridge resident taken for more than $500K in high-tech crypto scam
Chris Marcinkowski has lost everything. After being sucked into a year-long cryptocurrency investment scam in 2023, the 61-year-old Cambridge man lost his retirement savings — losing more than $500,000 in the end — and is putting his home up for sale. The latter is what hurts the most. His Pine Street home of almost 30 years is his life. He invested in a new garage for woodworking projects — prior to being scammed — and that's where he spends most of his free time. Besides puttering around the house and collecting pieces for a train set he's had since childhood, Marcinkowski can be found cutting a neighbour's grass, shovelling their snow or just helping out. That chapter is over. Unable to afford paying off a Home Equity Line of Credit obtained in an effort to get his money back — which turned out to be a second scam — Marcinkowski is still struggling with losing everything he worked for as a long-haul truck driver and starting over again. 'It's just all gone, just like that.' It's a cautionary tale, he said, and he's hoping others don't fall into the same trap. While browsing Facebook Marketplace in March 2023 for some items for his garage, Marcinkowski saw an ad featuring Kevin O'Leary and Arlene Dickinson from 'Dragons' Den' talking about a new investment opportunity that had been pulled from the air, but was leaked on social media. It looked real, he said, seemingly filmed on the 'Dragons' Den' set with reputable people. He clicked on the link and it took him to Keystone-Market. Their premise was simple: sign up, put money in an investment, and watch that investment climb. At the time, Marcinkowski was suffering frequent headaches and short-term memory loss stemming from a severe head injury after crashing his tractor trailer a few years earlier. Details of the single-vehicle collision are sketchy, as he doesn't remember hitting anything, but regained consciousness with an OPP officer climbing through his window. The future of his working life after the crash looked murky. He figured why not throw in a 'couple hundred bucks' and try to pad out his retirement — with no pension available in his profession he only had some RRSPs, and eventually CPP, to fall back on. And maybe he could get off the job earlier than expected. He signed up for the Keystone-Market investment platform, made an initial deposit in a trading account, and waited for a call from an account manager to make his investment. He was contacted by someone who identified himself as Dean Salt, from a purportedly U.K.-based company. He told Salt he would like to invest in gold, silver or oil, but Salt suggested that with such a small amount of money, he should concentrate on other entities, including Google. Marcinkowski watching his investments soar through live numbers provided on the company's website. Any suspicions he had with the company left when he participated in a live video conference, where Salt showed him around the office, with the London Eye seen in the distance through an office window. When he asked to take $1,000 out of his Keystone-Market account it was sent to him immediately. He was hooked. That's when Salt convinced Marcinkowski the best way to grow his return was to put more money in. First, it was an additional $2,500, then he decided to cash in his RRSPs. In little over a month, he cashed in five RRSPs, a total of $97,000. 'They sort of become your best friend; tell you jokes and all this other stuff,' Marcinkowski said. 'Then you trust in this person that's obviously criminal, but you don't know that, right?' Salt told him since $97,000 was such a large amount, the best way to send it was through cryptocurrency. Knowing little about it, he took their advice, sending the money through various third-party recipients, believing his funds would be secure. He was never given the pass codes required to access or withdraw the money. At that point, it was suggested Marcinkowski become a 'banker.' People who wanted to invest, but didn't have accounts, could send money to him and the platform would transfer it to his 'wallet' to be turned into crypto. He would receive a percentage from each investment, he was told. Marcinkowski unknowingly became a 'money mule' — someone who moves illegally acquired money on behalf of somebody else. Between his job, home renovations, and his medical condition, Marcinkowski said he was not monitoring the funds being transferred that closely until his bank noticed large amounts of money filtering in and out of his account. He believes the people who invested through him were scammed of more than $850,000, as that what's the bank said passed through his account. Figuring he may be the victim of a scam, they froze his account in October 2023. Waterloo Regional Police confirmed he reported the scam to police in November 2023. Marcinkowski called Salt to tell him he urgently needed his money back, using the excuse he wanted to buy a home. There were no further responses from Salt. While he figured the bank was working behind the scenes to intercept the scam, Marcinkowski took the financial loss. 'It's a great loss to me, but I could still deal with it,' he said. Chris Marcinkowski lost more than $500,000 in a long-term cryptocurrency investment scam, losing his retirement money and then more with a fake recovery scheme. Marcinkowski didn't hear anything from his bank or police about the original fraud. He was told the issue had been turned over to the bank's security division, but he couldn't get any further information. So, it seemed like a blessing when he received a call in August 2024 from someone who identified himself as 'Peter Lam' from Wide Network Compensation. 'Lam,' Marcinkowski said, claimed his group was contracted by the Swiss government to assist victims of Keystone-Market, who had been shut down by Swiss international police. They got his number, he was told, by seizing all of Keystone-Market's computers and they wanted to return his retirement money. Still wary from the first scam, Marcinkowski googled Wide Network Compensation. The company exists, and Peter Lam is listed as a recovery specialist on the website. He would come to learn the real Peter Lam was not on the phone. This 'Peter Lam' told him while they would be returning the funds, such a large amount would be frozen by the bank. The key was to open a pipeline to transfer funds. And the key to opening the pipeline was Marcinkowski to transfer an amount equal to what he originally lost to a bitcoin wallet. Somehow, he was told, this would be shown to government, and allow his money to be transferred back. To get the money, he got a second mortgage from a credit company, which dubs itself as an 'alternative to the banks and credit unions.' Marcinkowski transferred $90,186, which was converted to bitcoin, using Atomic Wallet. The funds, he was told, were placed in a secured escrow account. He was told his file was being reviewed and a decision would come soon to return his money. Shortly after, 'Lam' told him that for the government and Blockchain authorities to recover his money, he would need an 'insurance deposit' of $200,000 to cover the original loss and what he had put in. Marcinkowski applied for a Home Equity Line of Credit that didn't check income. He got $350,000, enough to send the $200,000, pay off the second mortgage and pay penalties to the credit company he borrowed the money from for the initial payment to Wide Network Compensation. He sent that money in December 2024. 'Because of my memory and everything else, I had so much stuff going on, I just wanted this back,' he said on why he continued. 'I asked him, like, 'How long is this entire process going to take?' And he says, it won't be more than a day.' A week later, 'Lam' called again. He said another $100,000 was needed as the Human Rights Commission had become involved. The company who scammed him may have been involved in terrorist activities, he was told, and the money may have been used in those activities. Marcinkowski had become suspicious. He says he strung 'Lam' along to see if there was any way to get his money back. Despite repeated requests, 'Lam' refused to provide any official documentation or proof of the money, citing confidentiality agreements. Marcinkowski challenged the money's legitimacy and was assured that the funds in escrow would be returned if the transaction could not be completed by a set deadline. Marcinkowski contacted the bitcoin wallet provider to ask why he couldn't withdraw money with the bitcoin token he had been given. He was told it was a false token and there was no money in it. The values he was provided were false. Ultimately no funds were returned, and 'Lam' cut off communication. As Marcinkowski's world came apart, he still had a $3,100 monthly payment for the line of credit, more than he was making at work. He managed to make two mortgage payments by selling some personal items, using credit cards and his line of credit. He thought about taking his own life. Marcinkowski contacted his brother and sister, who are helping him until he can sell his house and pay off his debt. He said it will likely leave him 'broke' when he's retired. 'It has taken a tremendous toll on my health, personal life and relationship with my family,' he said. 'I blame it on the social media platforms for even allowing any of these fake ads on. Their disclaimers are not visible, so they should be held totally liable for my situation and others.' Marcinkowski has made it his mission to contact those running social media sites, including Facebook executive Garrick Tiplady, to be mindful of what ads are posted on their sites and restrict scams. His frustration, however, is mounting. 'You cannot get a hold of these companies to tell them these advertising advertisements are false and they should be policing this,' he said. 'All these social platforms have to have some sort of a vetting process for advertisers to verify that they're legitimate before they let them advertise. I'm sure these platforms really don't care about users.' Melissa Quarrie, a Waterloo Regional Police public information officer, said high-tech scams are becoming increasingly common. 'These schemes often use legitimate-looking platforms, realistic data dashboards, and personal engagement tactics, including video calls, to create a false sense of trust and authenticity. This makes it more difficult for victims to discern fact from fraud,' she said. In 2023, when Marcinkowski reported the scam to police, there were approximately 50 cryptocurrency-related reports, and another 55 filed in 2024. In 2025, to date, police have received approximately 40 reports, with combined losses exceeding $6 million. Quarrie said according to the Canadian Anti-Fraud Centre, only about 10 per cent of fraud victims report their experiences. Barriers to reporting include embarrassment and, in the case of older adults, fear of losing financial autonomy or control over their finances. To prevent scams, Quarrie said community members should be skeptical of 'too good to be true' investment opportunities, seek a second opinion from a trusted adviser, conduct independent research before investing, protect personal information and digital credentials, and use only well-known, regulated investment platforms. 'Public awareness, early detection, and caution are key to protecting against financial fraud, she said. Warnings are too late for Marcinkowski now. After 28 years in his home, and undertaking various upgrades and improvements, he's meeting with a realtor. Painters have been hired to go through his house with muted colours to make it more appealing to buyers. His train set will go up for sale. 'These people are monsters; they're criminals. I'm not going to get my money back.' Error! Sorry, there was an error processing your request. There was a problem with the recaptcha. Please try again. You may unsubscribe at any time. 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Entrepreneur
5 days ago
- Business
- Entrepreneur
From Setbacks to Security: A Bold Vision Redefining Protection with Purpose and Integrity
Based in California, OLDPGS provides essential protection services with a promise of reliability and professionalism—values that have earned them strong partnerships with affiliated security companies nationwide. Opinions expressed by Entrepreneur contributors are their own. You're reading Entrepreneur India, an international franchise of Entrepreneur Media. In today's uncertain world, safety isn't just a service, it's a necessity. And at the heart of dependable protection in California and beyond stands Hayson Tasher, the founder of Old Patrolman Guard Services (OLDPGS). With a mission rooted in integrity, prayer, and perseverance, Hayson's journey from setback to success is both inspiring and instructive. His story isn't just about building a security company, it's about never giving up on your vision, even when the odds seem stacked against you. From Setback to Startup Hayson's entrepreneurial path wasn't smooth. In fact, it was riddled with delays that could have derailed even the most determined founder. When the guard company he initially worked for refused to sign off on his hours required to get his state license, it delayed the launch of OLDPGS by nearly three years. But where some would see a closed door, Hayson saw a challenge to rise above. "I wouldn't even recognize their brand now," he reflects, a testament to how far he's come. Guided by his faith and a clear vision of doing things differently, Hayson pushed forward. He realized he wasn't just a part of someone else's security operation, he was capable of leading his own. Building OLDPGS: More Than a Company, A Calling Old Patrolman Guard Services isn't your average security firm. Based in California, OLDPGS operates with a deeply personal ethos: "Dedicated to administrating a safe and secure environment." The company provides essential protection services with a promise of reliability and professionalism—values that have earned them strong partnerships with affiliated security companies nationwide. Today, that network is expanding even further. "Nationwide capabilities are no longer a vision," Hayson says with pride, "they're a reality." With more partnerships confirmed and more in the works, OLDPGS is rapidly scaling without compromising on the values that started it all. What truly sets OLDPGS apart? Hayson's hands-on leadership. Unlike many CEOs, he still works in the field and remains intimately involved with daily operations. This level of commitment ensures that clients don't just get a service, they get leadership-backed security they can trust. Resilience Through Recession and Beyond When COVID-19 disrupted industries across the globe, OLDPGS stood strong. Security personnel were classified as essential workers, and OLDPGS continued to serve when many others paused. However, when it came to politically or racially influenced funding, particularly during DEI (Diversity, Equity, Inclusion) policy shifts, Hayson stood firm. He consciously declined hundreds of millions in available funding. "We are a security company," he explains, "and racial propaganda is not on our agenda. Politics has no place in our service model." OLDPGS earns contracts the way any security vendor does: through merit, professionalism, and performance. Opportunity as the Ultimate Offering At the core of Hayson's brand is a desire to create opportunity. Whether it's hiring and training guards or expanding services across the country, OLDPGS is built to empower others. Hayson believes that time is precious, and wasting it means watching others live the dreams you set aside. "Time waits for no one," he emphasizes. "If you put off your vision for another year, you'll look up, and five years will have passed while others have built their dreams." The Future is Branded Protection With an eye on the future, Hayson is transforming OLDPGS into more than just a service provider. Plans are underway to expand the Old Patrolman brand into its own line of firearms, batons, pepper spray, and more. This expansion aims to standardize quality and safety across the board while giving clients more tools to feel secure and supported. Final Word In an industry often driven by profit, Old Patrolman Guard Services stands out as a mission-driven brand that prioritizes safety, values, and vision. From a delayed start to national growth, Hayson Tasher's story is one of perseverance, leadership, and staying true to a calling. If you're looking for security you can count on, remember the name: OLDPGS, a brand dedicated to protecting not just places, but dreams.
Yahoo
6 days ago
- Business
- Yahoo
Jordan Brand Revenue Sinks 16% During Nike's Fiscal Year
Nike reported fourth-quarter financial results that slightly topped depressed revenue and earnings-per-share estimates, but the full-year picture reflects the brand's struggles, as 12-month revenue fell 10% to $46.3 billion. The worst-performing Nike segment was the Jordan Brand, where revenue fell 16% for the year to $7.3 billion. Men's, which represents roughly half the business, and women's were both down 6%, while kids' dipped 5%. Converse sits outside the Nike brands and was off 19% to $1.7 billion. More from NASCAR Teams Must Share Financial Data, Judge Rules NASCAR's Countersuit Against 23XI, Front Row Motorsports Advances 23XI Racing, Front Row Ask Appellate Court for NASCAR Restart Jordan has been an outperformer in recent years, while the overall Swoosh brand struggled, leading to the return of Elliott Hill in October to take over as CEO. Jordan's loyal customer base and iconic designs drove sales higher, including 6% the previous year when the overall company was flat. Yet, it has faced saturation concerns over the last year and a bigger challenge from Adidas. The fiscal year-end results are the one time a year the company provides financial results of its wholly owned Jordan brand, whose foundation was the signing of NBA icon Michael Jordan to an endorsement contract in 1984. The brand's revenue doubled between 2020 and 2024 as it expanded into more women's gear, non-basketball items and international sales. The 'performance' basketball sneaker market is down over the past decade, but the 'retro' or lifestyle business more than made up for the declines. Jordan's soaring revenues boosted the fortunes of the former basketball player, who earned an estimated $300 million overall last year, predominantly from Nike royalties. MJ is the highest-paid athlete of all time, with $3 billion in career earnings from salaries and endorsements, by Sportico's count, or $4.15 billion adjusted for inflation. New CEO Hill is a believer in the Jordan Brand as a pillar to restore Nike's dominance in the sportswear industry. He was the Nike executive who took the Jordan Brand international in the late 1990s. Nike's stock is down 17% year-to-date and closed Wednesday at $62.54. It is now off 65% from its high-water close of $177.51 in November 2021. Last year, Nike's stock was the second-worst performer among the 30 components of the Dow Jones Industrial Average with a 30% drop. Best of Most Expensive Sports Memorabilia and Collectibles in History The 100 Most Valuable Sports Teams in the World NFL Private Equity Ownership Rules: PE Can Now Own Stakes in Teams Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
24-06-2025
- Business
- Yahoo
Equity Bancshares, Inc. Will Announce Second Quarter 2025 Results on July 14, 2025
WICHITA, Kan., June 24, 2025--(BUSINESS WIRE)--Equity Bancshares, Inc. (NYSE:EQBK), ("Equity"), the Wichita-based holding company of Equity Bank, will release its second quarter financial results on Monday, July 14, 2025, with a press release issued after market close. Equity Chairman and Chief Executive Officer Brad Elliott and Chief Financial Officer Chris Navratil will hold a conference call and webcast to discuss earnings results on Tuesday, July 15, 2025 at 10 a.m. eastern time or 9 a.m. central time. Those wishing to participate in the conference call should call the applicable number below and reference the Access Code below. United States (Local): +1 404 975 4839United States (Toll-Free): +1 833 470 1428Global Dial-In Numbers Access Code: 671814 To eliminate wait times, conference call participants may pre-register using this registration link. After registering, a confirmation with access details will be sent via email. A replay of the call and webcast will be available two hours following the close of the call until July 22, 2025, accessible at Webcast URL: About Equity Bancshares, Inc. Equity Bancshares, Inc. is the holding company for Equity Bank, offering a full range of financial solutions, including commercial loans, consumer banking, mortgage loans, trust and wealth management services and treasury management services, while delivering the high-quality, relationship-based customer service of a community bank. Equity's common stock is traded on the New York Stock Exchange under the symbol "EQBK." Learn more at Special Note Concerning Forward-Looking Statements This press release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements reflect the current views of Equity's management with respect to, among other things, future events and Equity's financial performance. These statements are often, but not always, made through the use of words or phrases such as "may," "should," "could," "predict," "potential," "believe," "will likely result," "expect," "continue," "will," "anticipate," "seek," "estimate," "intend," "plan," "project," "forecast," "goal," "target," "would" and "outlook," or the negative variations of those words or other comparable words of a future or forward-looking nature. These forward-looking statements are not historical facts, and are based on current expectations, estimates and projections about Equity's industry, management's beliefs and certain assumptions made by management, many of which, by their nature, are inherently uncertain and beyond Equity's control. Accordingly, Equity cautions you that any such forward-looking statements are not guarantees of future performance and are subject to risks, assumptions and uncertainties that are difficult to predict. Although Equity believes that the expectations reflected in these forward-looking statements are reasonable as of the date made, actual results may prove to be materially different from the results expressed or implied by the forward-looking statements. Factors that could cause actual results to differ materially from Equity's expectations include competition from other financial institutions and bank holding companies; the effects of and changes in trade, monetary and fiscal policies and laws, including interest rate policies of the Federal Reserve Board; changes in the demand for loans; fluctuations in value of collateral and loan reserves; inflation, interest rate, market and monetary fluctuations; changes in consumer spending, borrowing and savings habits; and acquisitions and integration of acquired businesses; and similar variables. The foregoing list of factors is not exhaustive. For discussion of these and other risks that may cause actual results to differ from expectations, please refer to "Cautionary Note Regarding Forward-Looking Statements" and "Risk Factors" in Equity's Annual Report on Form 10-K filed with the Securities and Exchange Commission on March 7, 2025, and any updates to those risk factors set forth in Equity's subsequent Quarterly Reports on Form 10-Q or Current Reports on Form 8-K. If one or more events related to these or other risks or uncertainties materialize, or if Equity's underlying assumptions prove to be incorrect, actual results may differ materially from what Equity anticipates. Accordingly, you should not place undue reliance on any such forward-looking statements. Any forward-looking statement speaks only as of the date on which it is made, and Equity does not undertake any obligation to publicly update or review any forward-looking statement, whether as a result of new information, future developments or otherwise. New risks and uncertainties arise from time to time and it is not possible for us to predict those events or how they may affect us. In addition, Equity cannot assess the impact of each factor on Equity's business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements. All forward-looking statements, expressed or implied, included in this press release are expressly qualified in their entirety by this cautionary statement. This cautionary statement should also be considered in connection with any subsequent written or oral forward-looking statements that Equity or persons acting on Equity's behalf may issue. View source version on Contacts Media Contact: Russell ColburnPublic Relations & Communications ManagerEquity Bancshares, Inc.(913) 583-8011rcolburn@ Investor Contact: Brian J. KatzfeyVP, Director of Corporate Development and Investor RelationsEquity Bancshares, Inc.(316) 858-3128bkatzfey@ Sign in to access your portfolio
Business Wire
24-06-2025
- Business
- Business Wire
Equity Bancshares, Inc. Will Announce Second Quarter 2025 Results on July 14, 2025
WICHITA, Kan.--(BUSINESS WIRE)--Equity Bancshares, Inc. (NYSE:EQBK), ('Equity'), the Wichita-based holding company of Equity Bank, will release its second quarter financial results on Monday, July 14, 2025, with a press release issued after market close. Equity Chairman and Chief Executive Officer Brad Elliott and Chief Financial Officer Chris Navratil will hold a conference call and webcast to discuss earnings results on Tuesday, July 15, 2025 at 10 a.m. eastern time or 9 a.m. central time. Those wishing to participate in the conference call should call the applicable number below and reference the Access Code below. United States (Local): +1 404 975 4839 United States (Toll-Free): +1 833 470 1428 Global Dial-In Numbers Access Code: 671814 To eliminate wait times, conference call participants may pre-register using this registration link. After registering, a confirmation with access details will be sent via email. A replay of the call and webcast will be available two hours following the close of the call until July 22, 2025, accessible at Webcast URL: About Equity Bancshares, Inc. Equity Bancshares, Inc. is the holding company for Equity Bank, offering a full range of financial solutions, including commercial loans, consumer banking, mortgage loans, trust and wealth management services and treasury management services, while delivering the high-quality, relationship-based customer service of a community bank. Equity's common stock is traded on the New York Stock Exchange under the symbol 'EQBK.' Learn more at Special Note Concerning Forward-Looking Statements This press release contains 'forward-looking statements' within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements reflect the current views of Equity's management with respect to, among other things, future events and Equity's financial performance. These statements are often, but not always, made through the use of words or phrases such as 'may,' 'should,' 'could,' 'predict,' 'potential,' 'believe,' 'will likely result,' 'expect,' 'continue,' 'will,' 'anticipate,' 'seek,' 'estimate,' 'intend,' 'plan,' 'project,' 'forecast,' 'goal,' 'target,' 'would' and 'outlook,' or the negative variations of those words or other comparable words of a future or forward-looking nature. These forward-looking statements are not historical facts, and are based on current expectations, estimates and projections about Equity's industry, management's beliefs and certain assumptions made by management, many of which, by their nature, are inherently uncertain and beyond Equity's control. Accordingly, Equity cautions you that any such forward-looking statements are not guarantees of future performance and are subject to risks, assumptions and uncertainties that are difficult to predict. Although Equity believes that the expectations reflected in these forward-looking statements are reasonable as of the date made, actual results may prove to be materially different from the results expressed or implied by the forward-looking statements. Factors that could cause actual results to differ materially from Equity's expectations include competition from other financial institutions and bank holding companies; the effects of and changes in trade, monetary and fiscal policies and laws, including interest rate policies of the Federal Reserve Board; changes in the demand for loans; fluctuations in value of collateral and loan reserves; inflation, interest rate, market and monetary fluctuations; changes in consumer spending, borrowing and savings habits; and acquisitions and integration of acquired businesses; and similar variables. The foregoing list of factors is not exhaustive. For discussion of these and other risks that may cause actual results to differ from expectations, please refer to 'Cautionary Note Regarding Forward-Looking Statements' and 'Risk Factors' in Equity's Annual Report on Form 10-K filed with the Securities and Exchange Commission on March 7, 2025, and any updates to those risk factors set forth in Equity's subsequent Quarterly Reports on Form 10-Q or Current Reports on Form 8-K. If one or more events related to these or other risks or uncertainties materialize, or if Equity's underlying assumptions prove to be incorrect, actual results may differ materially from what Equity anticipates. Accordingly, you should not place undue reliance on any such forward-looking statements. Any forward-looking statement speaks only as of the date on which it is made, and Equity does not undertake any obligation to publicly update or review any forward-looking statement, whether as a result of new information, future developments or otherwise. New risks and uncertainties arise from time to time and it is not possible for us to predict those events or how they may affect us. In addition, Equity cannot assess the impact of each factor on Equity's business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements. All forward-looking statements, expressed or implied, included in this press release are expressly qualified in their entirety by this cautionary statement. This cautionary statement should also be considered in connection with any subsequent written or oral forward-looking statements that Equity or persons acting on Equity's behalf may issue.
