Scandal-hit infobusinessman Orlovsky expands cooperation with Russians

Alexander Orlovsky, the nominal founder of the controversial Financial Freedom Academy (FFA community) platform, has intensified an aggressive advertising campaign aimed at attracting new participants to his projects. 

According to data published by journalist Andriy Karpinsky in materials from CRiME and "Gromkie Dela" (Loud Cases), Orlovsky's increased activity is taking place against the backdrop of warnings from the National Securities and Stock Market Commission (NSSMC) of Ukraine, as well as the International Organization of Securities Commissions (IOSCO). The organisations point to signs of fraud in FFA structures, including FFA Crypto, FFA Crypto RISE, and FFA Crypto Capitalist.

Signs of fraud

Regulators drew attention to FFA's dubious activities as early as last year. Orlovsky and his projects promise returns ranging from 100% to 1000%, while providing no legal documents, licences, or offices. Moreover, clients are not offered contracts to sign; instead, they are strongly encouraged to bring in friends and relatives.

Orlovsky actively uses social media and online media to promote his services. However, many of his advertising claims are either blatantly false or extremely difficult to verify.

Aggressive promotion and marketing

Following criticism from regulators, Orlovsky has become even more active in promoting his products. Central and regional online resources are flooded with promotional materials, some of which are not labelled as advertising. There are also reports of extensive use of SERM technologies (search engine reputation management) to "cleanse" his image.

Particular attention has been drawn to the new FFA Crypto Capitalist product, which Orlovsky positions as a premium service. It offers discretionary capital management starting from $10,000, with a guaranteed return of 20% per month (equating to 240% annually).

Cryptocurrency misconceptions

At one of his recent online seminars, Orlovsky assured the audience that cryptocurrencies are fully legal in Ukraine and that a quarter of Ukrainians allegedly own crypto assets. He cited ChatGPT as his source, which drew criticism. In reality, cryptocurrencies have not yet been legalised in Ukraine, and transactions involving them can lead to the blocking of bank accounts.

Dubious tools

Orlovsky actively promotes the paid trading bot "Veles" from Veles Finance, claiming it is the best tool for cryptocurrency trading. However, independent experts emphasise that more reliable and free alternatives are available on the market.

Journalists took note of Veles Finance's ties with Russia. The owners of the company, registered in the UAE, are linked to a structure of the same name in Moscow. Evgenia Kuzmina is listed as the general director of the Russian "Veles" and also holds a senior position in the Dubai-based company.

Links with Russia

An analysis of traffic to the veles.finance website for December 2024 showed that a significant portion of the platform's audience is located in Russia and the UAE. Given that taxes from the company's operations go into the Russian budget, it can be concluded that the company indirectly supports the aggressive actions of the aggressor state.

Conclusion

The crypto-fraudster, despite repeated warnings and the failure of his previous projects, continues to manipulate people's trust by promising quick and easy earnings. His activities require not only financial oversight but also attention from law enforcement agencies.