Validus has halted withdrawals for its newer investors, a move announced in the company's July 5th affiliate newsletter, following a recent nationwide ban in New Zealand. The decision prioritizes older Validus investors who have not recruited new members, while effectively canceling outstanding requests for most other participants.
The company acknowledged that withdrawal requests submitted since May 16th had gone unpaid. However, Validus offered no specific reason for the non-payment or the subsequent policy changes. Affiliates received notice that unless they had invested over a year ago and maintained a passive role without recruiting, their withdrawal requests would be indefinitely cancelled.
All pending withdrawal requests from accounts that had not yet completed their 60-week investment cycle were cancelled. Similarly, accounts holding a V-Connect leadership rank also saw their withdrawal requests annulled. Validus’ business model previously promised a 300% return on investment, disbursed over a 60-week period. An "over 60-week cycle" investment means the participant joined the scheme before May 12th, 2022.
This means any investor who joined after May 12th, 2022, and sought a withdrawal, will not receive their funds. Only affiliates who do not hold a rank and invested prior to May 12th, 2022, have a chance to see some funds. Those in this group who requested a withdrawal on May 16th are scheduled for payment on July 10th. Requests made on May 25th are slated for payment on July 24th.
These payments may not be full, as Validus also indicated that "withdrawal amounts may be subject to capping." The company has provided no information regarding the fate of investor funds beyond July 24th. Analysts had warned of Validus' imminent collapse as early as April, suggesting that the current actions represent a prolonged exit scam by owners Parwiz Daud and Mansour Tawafi. This strategy often aims to delay a full cessation of operations, allowing operators to extract remaining funds and potentially fabricate a scapegoat before disappearing.
Part of this plan may involve Dounia Soulimi, who was appointed Validus' Head of Operations on July 4th. In the same newsletter announcing the withdrawal cancellations, Soulimi focused on "Vewards," a rewards program. She stated that Vewards had "grown and evolved" and looked forward to "an even more rewarding future" with "exclusive benefits and perks." She mentioned "personalized encounters, VIP events, product launches, and exclusive opportunities" as part of the vision.
Investors, however, primarily joined Validus for the promise of a 300% passive return on investment, not for the Vewards program. The current actions suggest the funds are largely gone, forcing Daud and Tawafi to manage a difficult exit. Victims of investment fraud can contact regulatory bodies in their jurisdiction, such as the New Zealand Financial Markets Authority, for guidance and assistance.