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/
Swisher1776: Incoming RV for Iraq
10-18-2026
INCOMING RV: CBI INTRODUCES ELECTRIC SYSTEM FOR REPLACING DAMAGED CURRENCY
The Central Bank of Iraq has introduced a new electronic system for replacing damaged currency, as part of its efforts to simplify procedures and make it easier for citizens to access this service more quickly and efficiently.
The system allows citizens to submit requests to replace damaged currency electronically via the “Aur” platform, by entering and confirming the required data, and the competent authorities in the Central Bank of Iraq will complete the necessary procedures to complete the replacement process.
MilitiaMan & Crew: The Truth About Iraq's Banking Reform | What You Need To Know
10-18-2026
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
The Central Bank Calls On Banks To Facilitate Foreign Transfers And Exempts Them From The Deposit Period Requirement
Baghdad (INA) – The Central Bank of Iraq called on licensed banks on Sunday to facilitate foreign transfers and exempt them from the RTGS deposit period requirement.
A statement from the bank, received by the Iraqi News Agency (INA), said, "The Central Bank of Iraq has called on all licensed banks to facilitate foreign transfer procedures for customers with completed transactions."
Good Morning Dinar Recaps,
GLOBAL BOND RESET WATCH: TREASURY MARKET VOLATILITY RAISES NEW QUESTIONS ABOUT WHO FINANCES U.S. DEBT
Changing investor behavior and volatile bond yields are raising important questions about the future cost of U.S. borrowing and the balance of global financial power.
KTFA
Sunday Night Video
FRANK26….10-18-26….GIVE ME YOUR TIRED, WORN AND TORN
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#
Fiat Dollar Purchase Power Down 87 Percent since 1971, Gold up More than 9000 Percent
And We Know: 10-18-2026
In today’s rapidly changing economic landscape, understanding the health of our global monetary system is more important than ever.
A recent insightful discussion from the And We Know Official YouTube channel delves deep into the historical shifts that have shaped modern finance, focusing specifically on the dramatic loss in purchasing power experienced by fiat currencies worldwide since 1971.
Note: All intel should be considered as "Rumors" until we receive official announcements ...and “Rates and Dates” could change anytime until we get to the banks/redemption centers.
TIER 4B – ISO 20022: The First 72 Hours After the Appointment
TIER 4B – ISO 20022
Telegram 10/17/2026
https://t.me/Tier4B_ISO20022
YOUR FIRST 72 HOURS AFTER THE APPOINTMENT, WHAT TO DO AND WHAT NOT TO DO
CBI Launches Digital Damaged Note Swaps
2026-10-18 05:27Shafaq News- Baghdad Iraqis can now apply online to replace damaged banknotes under a new Central Bank of Iraq (CBI) service designed to make the process faster and easier. The system allows citizens to submit replacement requests through the Ur electronic platform by entering the required information and confirming their applications. The CBI will then process the requests through its relevant departments, according to a statement.
Good Afternoon Dinar Recaps,
GLOBAL FINANCIAL SECURITY RESET WATCH: AI CYBER THREATS PUSH FINANCIAL LEADERS TOWARD GREATER COOPERATION
G7 finance leaders are planning cybersecurity simulations as the IMF warns that increasingly sophisticated AI-driven attacks could threaten confidence in banks, payment networks and the wider financial system.
TNT:
Tishwash: The US Treasury lifts restrictions on a number of Iraqi exchange companies - Breaking News
The US Treasury lifts restrictions on Iraqi exchange companies
The US Treasury Department has lifted restrictions on a number of Iraqi exchange companies, after verifying that they meet the compliance standards approved by the Central Bank of Iraq, allowing them to return to participating in dollar sales to travelers.
This step comes as part of strengthening compliance with regulatory controls and organizing foreign currency sales operations in accordance with approved frameworks.
KTFA:
Clare: Iraq Budget Bill Sent Back to Finance Ministry for Revisions
The 2027 draft budget bill has been returned to the Ministry of Finance to conduct necessary modifications and revisions
Good Morning Dinar Recaps,
GLOBAL FINANCIAL RESET WATCH: IMF AND WORLD BANK MEETINGS EXPOSE GROWING DEBT AND COOPERATION CHALLENGES
The IMF and World Bank's October meetings highlighted how rising borrowing costs, geopolitical conflict and uncertainty surrounding artificial intelligence are complicating the search for sustainable global economic growth.
A Good Week To Be On A Government Payroll
Notes From the Field By James Hickman (Simon Black / Sovereign Man) October 16, 2026
It was a good week to be on a government payroll and a bad one to be paying for it. Here are a few of the most absurd stories from the last several days in case you missed them.
Too tired to go to work? The Australian government has your back!
Source: Over $11M Missing From Iraqi State Bank
2026-10-17 Shafaq News- Baghdad
More than 17 billion Iraqi dinars ($11.18 million) in collected revenues and funds held in electronic accounts have reportedly gone missing from a state-owned bank, a source familiar with the matter told Shafaq News on Saturday.
KTFA
Saturday Night Video
FRANK26…10-17-26….”REQUIRED LOAN
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#
Ariel: What is Not Feasible for Iraq
10-17-2026
In My Opinion- What Is Not Feasible For Iraq
Iraq cannot formally submit a credible, WTO-compliant 2027 budget using a phantom program rate (1,310) that nobody not the IMF, not the World Bank, not their own central bank governors believes reflects economic reality.
A budget denominated in a currency that has no operational international Forex rate is a fiscal fiction. It cannot be audited. It cannot be stress-tested.
TNT:
Tishwash: President Al-Zaydi: The cabinet formation is complete and we have filled the vacant portfolios.
Prime Minister Ali Faleh al-Zaidi confirmed on Thursday that the cabinet formation is complete five months after the government was formed, stressing the commitment to implementing the government program's priorities and responding to the aspirations of Iraqis.
Al-Zaydi said in a statement received by Iraq Observer that the government has worked diligently and persistently over the past months under extremely complex internal and external circumstances, explaining that the war in the region has imposed, and continues to impose, exceptional economic challenges on Iraq, in addition to security challenges that require the highest levels of responsibility and vigilance.
Why Are Central Banks Buying So Much Gold in 2026?
Published: 10-05-2026 De-dollarization is the gradual shift by central banks away from holding the US dollar as their dominant reserve asset. In practice, that usually means adding gold and other currencies instead. In 2026, this shift stopped being a theory investors had to take on faith.
Specifically, it is now a documented pattern, visible in the World Gold Council’s own survey data and in the IMF’s own reserve statistics.
Good Afternoon Dinar Recaps,
GLOBAL DEBT RESET WATCH: DEVELOPING NATIONS FACE RECORD DEBT AS NEW FINANCING MODELS EMERGE
Record external debt, shrinking foreign aid and rising financing costs are pushing developing nations to seek new ways to fund growth and reshape their relationships with global financial institutions.
TNT:
Tishwash: Finance Ministry and World Bank discuss banking sector reform and enhancing financial management efficiency in Iraq
The Undersecretary of the Ministry of Finance, Abdul Hassan Jamal, discussed with a delegation from the World Bank ways to enhance cooperation in financial policies and develop the financial and banking sectors in Iraq.
The ministry stated in a statement followed by “Iraq Observer” issued on Sunday, October 18, 2026, that the meeting witnessed a discussion of the next steps to expand the dialogue on financial reform and the development of the banking sector, in a way that contributes to raising the efficiency of financial management in the country.