DFRF Enterprises, a company promising investors 15% monthly returns, has released a video featuring a supposed former FBI agent to assuage fears of illegality, particularly among Chinese-speaking audiences. The video, uploaded to YouTube in December 2014, aims to position the company as legitimate despite its high-yield investment claims.
The promotional video features DFRF CEO Daniel Filho, investor Monita Chan, and an individual identified as Darren Covar. Covar, an attorney who also claims past experience as a Deputy Sheriff and Special Agent, is presented as a legal advisor with expertise in criminal law. Monita Chan, described as a "Canada Manager" and investor, appears alongside another investor. The video's low resolution and apparent objective suggest a deliberate attempt to build trust through association with law enforcement and regulatory bodies.
DFRF Enterprises demands a minimum investment of $10,000, promising returns allegedly generated through gold mining. However, the core operation appears to be solely based on investor deposits, a hallmark of Ponzi schemes. Covar's statements within the video, presented in the context of his purported background, are particularly concerning to observers. He is introduced by Monita Chan in Cantonese, with a partial translation indicating discussions of the FBI, Ponzi schemes, and money games. Later, in Mandarin, he is identified as Darren Covar.
Covar's professional profile lists him as the principal of The Law Offices of Darren P. Covar, P.A., an international business, criminal, and immigration law firm. His personal statement on his firm's website notes his background as a former Deputy Sheriff and Special Agent, claiming unique understanding and expert recognition in criminal law. This background is strategically used in the DFRF marketing to imply a deep knowledge of illegal financial activities and an insider's perspective on regulatory scrutiny.
The company’s claims of generating returns through gold mining remain unsubstantiated. Investors are simply required to deposit funds, with no transparency regarding the actual source of profits. The video's existence, especially its targeting of a specific linguistic group and its use of a former law enforcement figure, raises significant red flags. Such tactics are commonly employed by fraudulent operations to create a false sense of security and legitimacy. The Securities and Exchange Commission (SEC) has consistently warned the public about investment schemes that promise unusually high returns with little or no risk, particularly those that are difficult to understand or lack verifiable business operations.