URGENT

12 October 2024

Southern District of California

Federal Office Building

880 Front Street, Room 6293

San Diego, California 92101-8807

United States of America

Attention: Ms. Tara K. McGrath

My Liquidity Partner Cryptocurrency Fraud Affecting Hundreds of US Victims

Petition to the U.S. Department of Justice for Investigation and Recovery

We, the undersigned, are US citizens/residents who urgently call upon your Office to investigate and take immediate and decisive action against the perpetrators of a fraudulent scheme known as “My Liquidity Partner” (“MLP”), which has defrauded numerous individuals of their hard earned and in some instances retirement savings through deceptive cryptocurrency practices.

A. Background

Between March 2022 and September 2022, investors in the US were actively recruited into the MLP ponzi scheme as Liquidity Partners (“LPs”). Marketed as a promising opportunity, MLP scheme offered LPs the chance to earn a percentage of cryptocurrency transaction fees on a weekly basis by allegedly providing liquidity to Uniswap, a decentralized exchange. Initially, LPs received regular payout reports and returns, creating a false sense of legitimacy.

In September 2022, Smart Contract Solutions Ltd., the UK entity initially overseeing the scheme, facilitated the transfer of funds and operations to My Liquidity Partner Inc. (“MLP Inc.”), a company registered in Ras Al Khaimah, United Arab Emirates.

By December 2022, issues began to surface when MLP announced that its Binance accounts, holding LP deposits, were frozen for “routine checks.” Despite assurances from MLP, the situation worsened as withdrawals remained suspended.

In January 2023, MLP activated a “Protection Plan”, which promised to secure and refund LPs' investments by liquidating pledged assets. The entire MLP personnel team and contacts persons then were not responsive nor contactable.

B. Our Request

We implore the U.S. Department of Justice, through your Office, to urgently assist us in undertake the following actions:

1. Launch a comprehensive investigation into MLP scheme and its operators including its founder a US resident by the name of Verlin Sanciangco (“Perpetrators”)

2. Prosecute against those responsible for orchestrating this fraudulent ponzi scheme

3. Liaise with cross border authorities where the Perpetrators may have escaped to or relocated stolen funds

4. Recover stolen funds and establish a mechanism for victims to be compensated for their losses

C. Victim Impact

Hundreds of victims, if not thousands, both within the U.S. and internationally, have suffered substantial financial losses, including the depletion of their life savings. The impact of this scam extends beyond financial damage, destroying lives and families as the days passed.

By signing this petition, we stand united in demanding accountability for the Perpetrators and seek justice for all those harmed.

We are ordinary people leading ordinary lives. We believe that your leadership and prompt action are crucial as our last resort and hope in redressing this gross criminal injustice.

Sincerely,

Victims of MLP

Contact Persons:

(1) Mr. Don Nava

Email: [email protected] Tel: +1 650 464 4200

(2) Ms. Monin Ung of MUNG Legal

Email: [email protected]

Tel: +852 9100 7093