ISX Merchants, page-368

The truth about EFRI, Werner Boehm’s most despicable scam and its surprising recent resurfacing.

The worst kind of scammers, in my personal opinion, at the very least, are the ones who prey on the weakest and exploit people in their darkest hours. In my years of covering technology and investments, I very rarely came across a scammer as heartless as Werner Boehm, and a scam as vile as the one ironically named European Fund Recovery Initiative (EFRI).

The Method

The innocently named ‘European Fund Recovery Initiative’, was presented as a Non Profit set in place in order to help online scam victims retrieve their lost funds, by joining forces, sharing information and filing class actions against the scammers who conned them. Beautiful idea indeed, one many victim spend their days dreaming of. EFRI, as the ‘fund’ became colloquially known, was in fact a scam of its own. Once approached by victims, EFRI urged the ones contacting it to pay a significant fee for legal representation. The fee, they were assured, would be reimbursed to the victims in its entirety once the case was tried and the legal battle would have been won.

But EFRI, the fund that was supposed to help scam victims, never really existed. It was no more than an empty name. A shell organization, formed by Werner Boehm to collect information about the field of scammers and get innocent people’s money. No cases were prepared. No lawsuits were filed. No legal personnel was hired. EFRI was a mere scam. Another link in Boehm’s seemingly endless chain of international scams.

https://finleaks.com/2019/08/13/efri-things-wrong/