Salvatore Tagliavia, Giuseppe Mancino, and Stefano Soldi are identified as co-founders of iBull Trade, a cryptocurrency "mining" scheme that promises investors up to a 240% return on funds invested over twelve months. Tagliavia, based in Bulgaria, appears to direct operations for the company.
The iBull Trade website claims the company began in 2009. It states a group of entrepreneurs invested in cryptocurrencies, later finding a "more stable management of income." The site specifies a "first Mining Farm" near Oslo began construction in 2011, funded by the European Community and the Norwegian Government. By 2013, the project reportedly merged under EcoTrade13.
Corporate records show iBull Trade itself did not launch until late 2017. This contradicts the company's timeline of a 2009 origin and a 2011 mining farm. Salvatore Tagliavia's social media profiles list him as the sole founder and owner of EcoTrade13. However, EcoTrade13 lacks any verifiable web presence, raising questions about iBull Trade's claimed history. Tagliavia's LinkedIn profile suggests EcoTrade13 launched around 2013.
Tagliavia previously promoted Olympic Idea in 2014, an MLM marketing tool opportunity. He also claimed founding Olympic Idea on his Twitter account. This company later rebranded as Our Global Idea. Website traffic data for Our Global Idea shows 99.5% of its activity originates from Greece, indicating limited reach outside that region. Tagliavia's current involvement with Our Global Idea remains unclear.
iBull Trade offers no physical products or services for retail sale. The company's business model relies solely on affiliates marketing iBull Trade memberships to new investors. Participants invest funds into one of three tiers, each promising a specific return over a one-year period.
The "Basic" tier requires an investment between €1000 and €4999 EUR, promising a 132% return. A "Standard" investment of €5000 to €9999 EUR is advertised with a 192% ROI. The "VIP" tier, requiring €10,000 to €20,000 EUR, advertises the highest return at 240%. These returns are paid out over twelve months.
iBull Trade affiliates also earn referral commissions. Direct recruits on Level 1 generate a 10% commission on their investments. Indirect recruits on Level 2 generate a 5% commission. This multi-level structure incentivizes recruitment over any genuine product sales.
Additional "Rank Bonuses" are available based on recruitment volume and team investment. A "Junior Manager" qualifies by personally recruiting fifteen or more affiliates who collectively invest at least €500,000 EUR, earning a 1% bonus rate. "Senior Managers" need thirty or more personal recruits and €750,000 EUR in team investment for a 1.25% bonus. "Top Managers" require fifty or more personal recruits and a €1,000,000 EUR team investment to receive a 1.5% bonus rate. These bonuses do not apply to the affiliate's personal investment.
The structure of iBull Trade, with its emphasis on recruitment and high, guaranteed returns from new investor funds, bears the hallmarks of a Ponzi scheme. Such schemes typically pay earlier investors with money from later investors, rather than from legitimate business operations or product sales. The lack of verifiable external revenue streams, combined with the opaque "crypto mining" claims, raises significant investor protection concerns.
Financial regulators worldwide frequently issue warnings about investment opportunities that promise unusually high, fixed returns, especially when tied to cryptocurrency mining without clear operational details. The U.S. Securities and Exchange Commission, for example, has pursued numerous enforcement actions against similar unregistered securities offerings. Schemes based in jurisdictions like Bulgaria often present challenges for international oversight and victim recourse.
Investors considering cryptocurrency-related opportunities should verify company registrations and product disclosures with relevant financial authorities. Unregistered investment programs often operate outside legal frameworks, leaving participants vulnerable to significant financial loss. The promise of quick, high returns without corresponding risk disclosure is a primary indicator of potential fraud.
Individuals who believe they have been defrauded by iBull Trade or similar schemes should contact their national financial regulatory body or consult resources like the Financial Fraud Enforcement Task Force for guidance on reporting and potential recovery.