How A Baby-Faced CEO Turned A Farmville Clone Into A Massive Ponzi Scheme
Fraud on the Farm: How A Baby-Faced CEO Turned A Farmville Clone Into A Massive Ponzi Scheme
By Paul Benjamin Osterlund 20 July 2021 • Turkey
Farm Bank let players make money, while supporting real farms. Then the CEO vanished with $80 million.
Fraud on the Farm: How a baby-faced CEO turned a Farmville clone into a massive Ponzi scheme
On November 21, 2019, 25-year-old Recep Ataş stepped onto a shooting range in the Istanbul suburb of Başakşehir. He fired several rounds at the target, before suddenly aiming the weapon directly against his heart and pulling the trigger. The single shot killed him.
The next day, Ataş’ father told local media that his son was depressed — a large bank loan loomed over him. The money Ataş had borrowed evaporated after he’d invested it in Farm Bank, a smartphone app similar to the once-popular Facebook game Farmville. But unlike Farmville, Farm Bank had a real-world twist.
Launched in 2016, Farm Bank was billed as a way for players to “win as they play, and have fun as they win,” and encouraged them to invest in what they thought was actual livestock and agricultural land. Spurred on by friends and relatives, who claimed to have received returns on their investments, thousands of people rushed to put their money in Farm Bank. In actuality, Farm Bank was a smartphone-based pyramid scheme.
At first, users paid real money for the upkeep of virtual chickens, sheep, bees, and cattle, earning cash back in the game by keeping the animals alive. Players were also given a small cut of the profits for bringing in new players.
Riding high on the good publicity, Farm Bank soon went one step further, launching real-life farms. A local religious leader, a district governor, and a local mayor attended one farm’s opening ceremony in 2017.
The fanfare surrounding these grand openings were little more than PR stunts — the few animals on display weren’t actually being raised with Farm Bank investors’ money — but it all spoke to just how influential the game had become. Advertisements for the game featured stars such as the famous TV actor Mehmet Çevik and depicted expansive farms with actual livestock.
Farm Bank went on to weave a complicated, meta-business model: in 2017, the company began setting up deli franchises across Turkey. Franchisees paid Farm Bank about $30,000 (100,000 lira) to open shops that sold sausage, cheese, butter, honey, and other goods emblazoned with the Farm Bank logo — suggesting that the produce had come from the company’s livestock. It did not.
To continue reading, please go to the original article here:
https://restofworld.org/2021/farmbank-turkey-scam-jail-time/
TNT:
Tishwash: The US chargé d'affaires confirms to the Prime Minister's security advisor: We will celebrate together on September 30th, Iraqi Sovereignty Day
Iraq and the United States discussed today the issues of security, sovereignty, and political developments in Iraq and the region, in addition to bilateral relations, during a meeting with the US Chargé d'Affaires to Iraq, Steven Fagin.
The Iraqi side, in a statement received by Iraq Observer, stressed the priority of preserving the country’s security and sovereignty, consolidating state authority and the rule of law, and restricting weapons to the state, as well as continuing to combat terrorism and corruption and supporting state institutions in a way that preserves stability and the higher interests of Iraq.
MarkZ: LATEST UPDATE: The Delay, the Reset & the Great Wealth Transfer
Jon Dowling: 9-28-2026 (Excerpts)
Jon: Hi everyone. Welcome to the monthly podcast with the one and only the original Mr. Mark Z.Joining us graciously from this humble abode to have the normal customary discussion of what we're seeing and uh what we see ahead to unlock what we're all waiting patiently and maybe not patiently but doing what we need to do.
Mark: Hey, we're watching just the news we've been getting this week from UN side. Big announcements yesterday. Uh Iran has decided they can back off the 60% and adhere to international non-prololiferation rules. So that is like a sudden change.
Good Morning Dinar Recaps,
INDIA LIQUIDITY RESET WATCH: RBI DRAINS NEARLY $20 BILLION AS CENTRAL BANK REENGINEERS BANKING LIQUIDITY
India's central bank is using foreign-exchange operations, bond sales and other liquidity tools to reduce excess cash in the banking system, creating a significant example of how modern central banks can manage money flows through multiple financial channels.
The UN’s Bankruptcy Can’t Happen Fast Enough
Notes From the Field By James Hickman (Simon Black / Sovereign Man) September 28, 2026
Every September, world leaders take turns at the podium of the United Nations General Assembly in New York and give pointless speeches. If they really cared about CO2 emissions, they’d skip the event entirely, because the only thing coming out of their mouths is lies and hot air. But a few days ago when it was Argentina's turn, President Javier Milei spoke honestly and boldly.
Finance Refers The Draft Federal Budget For 2027 To The Ministerial Council For The Economy
Money and business Economy News – Baghdad The Ministry of Finance referred the draft federal budget for 2027 to the Ministerial Council for the Economy, after completing the stages of its preparation.
The ministry said in a statement that the completion of the draft budget is the result of continuous working meetings of the Supreme Committee for the preparation of the budget, including hosting representatives of ministries, the Kurdistan region and the provinces, as well as consulting financial experts from inside and outside Iraq.
Alasdair Macleod: Is a Russia-China Gold Standard Inevitable?
WTFinance : 9-28-2026
Alasdair Macleod has over decades of experience in financial markets, with a focus on monetary history, systemic risk, and the enduring role of gold. He is one of the most respected voices on sound money and wealth preservation.
A recent video from WTFinance on YouTube delves into a fascinating and impactful topic: the possibility of Russia and China transitioning their currencies—specifically the ruble and the yuan—onto a gold standard.
KTFA
Monday Night Video
FRANK26….9-28-26….AKI’S BOSS
This video is in Frank’s and his team’s opinion only
Frank’s team is Walkingstick, Eddie and Omar in Iraq and guests
Playback Number: 605-313-5163 PIN: 156996#
Good Afternoon Dinar Recaps,
GLOBAL MARKET RESET WATCH: OIL SURGE PUSHES DOLLAR HIGHER AS TREASURY YIELDS RISE
Renewed uncertainty surrounding U.S.-Iran negotiations has pushed oil prices higher and placed additional pressure on Treasury markets, the dollar and global investors as inflation and interest-rate concerns return to focus.
Iraq Is Preparing To Celebrate Sovereignty Day And The US Withdrawal
Rebwar Hamawais Summary of the news:
Iraq has called the withdrawal of US troops Sovereignty Day.
Masrour Barzani to the Financial Times: The withdrawal of US troops is at a sensitive time.
Masrour Barzani: Leaving the Kurdistan Region without providing a defense system is worrying.
Armed groups are calling for a law on weapons collection to protect their rights.
GP Q: Iraq’s Sovereignty Days Holiday and 30-Day Roadmap
9-27-2026
Channel 8 English: Marking the first holiday of its kind, the Iraqi Council of Ministers has declared an official public holiday across all state institutions from Wednesday, September 30, through Saturday, October 3, in celebration of the Republic of Iraq's Sovereignty Days.
IRAQ: 4-DAY “SOVEREIGNTY DAYS” HOLIDAY
Iraq’s Council of Ministers has officially declared a public holiday across state institutions from September 30 through October 3, 2026, marking what the government calls “Sovereignty Days.”
TNT:
Tishwash: Full US Withdrawal from Iraq: Official Reveals Completion of Operation
An Iraqi government official announced on Sunday the completion of the US troop withdrawal from Iraq, noting that all combat and logistical support forces have left the country.
The official told the German Press Agency (DPA) that the withdrawal process is fully complete, although there has been no official confirmation from the US side yet.
Monday Coffee with MarkZ. 09/28/2026
MarkZ Disclaimer: Please consider everything on this call as my opinion. Be sure to consult a professional for any financial decisions
MZ: This week is starting with a bang, hopefully that means it will be a great one. We have a lot to unpack today, Wade and Gina from My Free Water join after the news.
THE CONTENT IN THIS PODCAST IS FOR GENERAL & EDUCATIONAL PURPOSES ONLY&NOT INTENDED TO PROVIDE ANY PROFESSIONAL, FINANCIAL OR LEGAL ADVICE. PLEASE CONSIDER EVERYTHING DISCUSSED IN MARKZ’S OPINION ONLY
Emailed to Recaps~ Thank you David
Reset Intelligence: The Occupation Is Over.
By Reset Intelligence | @EXIT_FIAT
Iraq's Foreign Minister says American forces have completely finished their withdrawal from Iraq, the Kurdistan Region included. That is 3 days ahead of the September 30 deadline.
The same weekend, Washington agreed to keep the cash dollars flowing to Baghdad, and Trump said of Iraq's Prime Minister: "I endorsed him."
Stephanie Starr: Watch this Timeline for Iraq
9-27-2026
IRAQ — WATCH THIS TIMELINE
SEPT 24: Iraq + U.S. sign agreement handing the Diplomatic Support Center at Baghdad International Airport back to Iraq.
SEPT 25: At the UN, Iraq declares its ambition to become a GLOBAL ENERGY HUB and says its relationship with strategic partners is shifting from military cooperation → economic & development cooperation.
MilitiaMan & Crew: Sovereignty Days & IQD | What You Need to Know
9-27-2026
The Crew: Samson, PompeyPeter, Petra, Daytrader, Sunkissed, GIGI and Militia Man
No drama. No intrigue. No songs and dances. Just straight, factual news that I read and interpret to the best of my ability after being an avid Dinar investor and insanely obsessed Dinarian for over 15 years.
Follow MM on X == https://x.com/Slashn
Good Morning Dinar Recaps,
U.S.-CHINA TRADE RESET WATCH: TWO-MONTH TRUCE EXTENSION OPENS NEW WINDOW FOR GLOBAL TRADE AND FINANCE
The extension of the U.S.-China trade truce through January 10 creates additional time for the world's two largest economies to reduce tariff barriers, expand economic dialogue and reshape the framework for global trade.
How To Make Strategic Cash Bucketing Work For You
Last Edited Sep 16, 2026| Angelena Mascilli
Cash bucketing – or categorizing your funds based on specific expenses or goals – can help you organize your financial life.
Cash and other liquid assets may be the ideal place for buckets of money that you may need to access soon to cover expenses or capitalize on new investment opportunities.
Iraq Economic Council Approves Draft 2027 Budget
2026-09-27 Shafaq News- Baghdad Iraq’s Ministerial Council for the Economy approved the draft 2027 federal budget on Sunday and referred it to the Council of Ministers, according to a Finance Ministry document.
Earlier today, the Finance Ministry said it had submitted the draft to the economic council after completing its preparation.
KTFA
Sunday Night Video
FRANK26….9-27-26……NEATO VETO
This video is in Frank’s and his team’s opinion only
Frank’s team is Walkingstick, Eddie and Omar in Iraq and guests
Playback Number: 605-313-5163 PIN: 156996#
Reset Intelligence: Iraq Enters the Final Stretch.
By Reset Intelligence | @EXIT_FIAT
The heads of Iraq's four presidencies signed off on Monday on what they called the completion of the country's path to sovereignty. The coalition's mission ends September 30.
From here, the gates this file has tracked run on dates: customs rules on October 1, the weapons principles in the first days of October, and the budget in parliament by October 15.