Quick info about me so you know I’m not making this up. I do NOT get paid to say this. I have no motivation other than to warn people about scams. I have a 100% verifiable track record of being right about calling out scams and Ponzi schemes. Please check my YouTube channel to verify:https://www.youtube.com/@ponzipatrol
Defi Synergy is a Ponzi scheme and an obvious one at that.
Defi Synergy has all the red flags of a Ponzi scheme. Does it not sound too good to be true? You know the saying right?
- Extremely high returns
- Consistent returns promoted
- Unregistered investment
- Unlicensed sellers
- Shady promoters
- High-Pressure sales tactics
- Evasive answers (if you question them)
- Claims that the investment doesn’t have to be registered
Defi Synergy Promoters
The main promoters and/or owners have promoted many pyramid schemes or Ponzi schemes. They have to know what they are promoting is a scam. If they don’t know then they are extremely incompetent and shouldn’t be trusted with investments. I’ll explain more but first, let’s look at who they are…
James Prewitt and Marcia Prewitt (fake doctors)
James and Marcia claim to be doctors. Neither James nor his wife have a real doctorate degree from what I can tell. She claims her doctorate is from CICA International & Seminary. Well, those are fake and not recognized in the US.
It’s common in MLM for scammers to get fake doctorates so they can pretend to have more authority. Here’s more information about the fake doctorates they obtained.
Second, and more importantly, James Lonnie Prewitt is a convicted sex offender. Let me say that again. James Prewitt is a child molester. He’s a kiddy diddler. He’s a chomo. Here’s a link: Proof James is a child molester
He’s trying to use God and the church to promote a scam but he’s a sex offender? Gross. If this isn’t enough to skip out on donating money to this Ponzi scheme then I don’t know if anything else will change your mind.
James Prewitt and his wife have promoted scams for decades. They were involved in promoting YTP travel and they were using the church and God as a hook to get religious people to invest then too. YTP Travel was a pyramid scheme that has since collapsed.
James also lives in a small, cheap apartment. There’s nothing wrong with this by itself. However, he’s always preaching about building wealth, how to invest, and how he can help others be wealthy. He shows off 15-year-old cars on his Facebook page to try to look wealthy. Why is it you never see his apartment? It’s because he can’t afford a nice apartment or home. There’s a rule when it comes to picking mentors and coaches… they must be in a position you’d want to be in. When was the last time you saw a “rich” or “wealthy” person living in a 1,000-square-foot apartment while bragging about being wealthy? It’s all a facade.
Another Main Promoter – J Scott Whitney
J Scott Whitney is a career MLMer. What does he really know about crypto and investing? Well, obviously he doesn’t know much. Either that or he’s a scammer. It’s only one or the other and no in-between. Here’s why…
Scott was promoting a scam called NovaTech that has since collapsed. They claimed to trade crypto and generate returns for people. It ran for a bit and like all Ponzi schemes, it collapsed. Why was Scott promoting this? Was he scamming people or is he just terrible at investing and can’t spot a scam? My opinion is that he’s a scammer based on his background.
And the next promoter may be one of the worst…
Bob Bearden
Bob Bearden was also promoting NovaTech. Bob is the main reason I got into exposing scams. I made a website almost two years ago called The Bob Bearden. There’s no way Bob didn’t recognize that NovaTech was a scam when he was promoting it. I gave him all the proof and he still played dumb. Well, that makes him one of two things just like Scott. He’s either extremely bad at investing and spotting scams or he’s a scammer himself. My opinion is he’s a scammer.
Bob uses the church and God to sign people up for Ponzi schemes.
Bob Bearden’s career is mainly MLM. He has a natural skill for presenting and coming across as genuine but if you trust him and put your money into something he’s promoting, you’re going to lose it. Over 90% of people lose money in Ponzi schemes.
The Math of Defi Synergy
They claim to generate 2.5% per day. This makes it extremely obvious it’s a scam. If you invest $1,000 and compound daily for 3 years at 2.5%, you’d end up with over $695 BILLION dollars.
There’s zero chance this is possible. And, if it was, why would anyone share this with others instead of just putting in $1k of their own money and retiring as the richest person in the world after 3 years? Because they want to “help people”? Riiiight. We’ve already seen their background. Two of them use the church to promote scams and another one is a kiddy diddler.
The promoters will tell you that it’s possible for people to make these returns. Yet, they won’t be able to show you a single registered and legal investment that returns over 50% per year consistently. This scam is claiming to generate over 88,000% per year.
Defi Synergy Regulation
Defi Synergy is not regulated at all. This means it’s operating illegally. They have not filed with the SEC even though they’re offering a security.
Now, if you bring this up to the promoters they’ll say “It’s crypto and crypto isn’t a security”. This is a red herring. Crypto isn’t a security but that’s irrelevant. What Defi Synergy is offering is a security that uses crypto. Just like NovaTech FX was shut down and sued for securities fraud even though people used crypto to invest. It doesn’t matter if you use crypto, crayons, apples, dollars, or anything else as the currency to do business, it’s still a security if it passes the Howey Test. And, Defi Synergy passes the Howey Test.
Conclusion
Defi Synergy has all the red flags of a Ponzi scheme. It is in fact, a Ponzi scheme. The promoters are all shady at best and based on my knowledge of securities laws, I believe they should be in prison.
Please report this scam to the SEC and/or your local regulators. Reporting this may help save people money. People who lose money in Ponzi schemes have their lives ruined and some even commit suicide. Do the right thing and report them, please.