Monday, May 16

Thousands of young people attend the cryptocurrency event of a company accused of fraud in Badalona

Thousands of young people from all over Europe, from countries such as Germany, Holland, Italy or Cyprus, are meeting this weekend at the Badalona Olympic Palace for a convention on cryptocurrencies that has created controversy because the organizer, IM Mastery Academy, is accused of fraud and asks about 200 euros for each ticket. The participants have entered the pavilion en masse this Saturday celebrating the benefits of these financial assets.

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“Bitcoin is the future and also the present,” said one of the attendees at the ACN Agency. However, after the complaints unleashed this Friday against the act, the organization has prohibited the participants from speaking with the media and even some participants have dedicated themselves to interrupting the interviews in progress.

The promoters of the act are an American company that offers investment courses in cryptocurrencies and that has been accused of defrauding its students, who pay between 170 and 270 euros per month, apart from the tuition costs that in some cases is 300 euros. , as can be seen on their website. The company is involved in a case of pyramid fraud that captures young people with methods “specific to sects”, as explained by the National Police, which at the end of March arrested eight of its members as “presumed responsible” for crimes of fraud, misleading advertising and belonging to a criminal organization.

In fact, and although the event is underway, the Badalona City Council has asked Club Joventut Badalona to cancel the rental of the pavilion.

Many of the attendees have followed these online courses and this weekend they came to the convention to meet the promoters of the academy, to whom they affirm that they “owe a lot” of their new way of life, as explained by some of the attendees who have spoken anonymously to ACN.

In addition, they highlighted the atmosphere that is generated among those thousands of young people with the same mentality, who enthusiastically live the convention. Many of them have come in large groups, such as one of 200 people who come from the same “Dutch community” and share the same style of dress as business executives.

At the gates of the Palau Olímpic you could hear shouts “IM, IM”, repeated by dozens of participants who jumped and celebrated the start of the second day.

Outside the Palau Olímpic there were many groups of young Germans, who were “practically half” of those attending the stadium, according to Florian, 21, who has come from Dortmund to Badalona with his partner, from the same age. As he explained to ACN that he was excited about the “big convention,” an IM representative approached him and chided him that “they’re not authorized to talk to the media.” “It has been said in all the groups”, he blurted out, taking him into the pavilion.

Some of the participants have ignored the ban or were unaware of it. For example, Marco, from Sicily (Italy), explained that he is an academy student who is dedicated to cryptocurrencies as a way of life. “Financial education is very important today”, he said, assuring that with information you can live in Barcelona “three days with only 50 euros”.

According to this 21-year-old, we are in a “new financial era” and “whoever does not adapt will be forced to do so”. “Bitcoin is the future and the present”, he has insisted. In this sense, one of his classmates, Lorenzo, lamented that in Italian compulsory education it is not allowed to learn about this field or “how to manage your finances”. This 23-year-old Sicilian has stated that it is a good idea to start investing in cryptocurrencies when young, but that you have to train and go slowly.

Among some of the youngest participants who have wanted to speak was Morana, 19, who has stated that he has no words “to describe the energy inside the pavilion”. This young German has been investing in cryptocurrencies for five months and is training with the IM Academy courses. She believes that paying admission to the pavilion is worth it because they teach them “how to invest and how to have the right mindset to build a sustainable future.”

The promoters of the act have not wanted to speak with the media. Sunday will be the last day of this event that has sold all the tickets for sale, which were more than 9,000.