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/
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.
RV Excerpts from the Restored Republic via a GCR Update as of Wed. 9 Sept. 2026
Compiled Wed. 9 Sept. 2026 12:01 am EST by Judy Byington
Judy Note:On Thurs. 3 Sept. 2026 a covert transmission from Cheyenne Mountain (allegedly) confirmed that Trump had backed Crypto with gold and Quantum validation. The move sent shock-waves through the old financial grid as the fiat US Dollar quietly died and the Quantum Era began.
OIL BREAKS $100: MIDDLE EAST ESCALATION PUSHES INFLATION, BOND YIELDS AND GLOBAL FINANCIAL RISK HIGHER
Brent crude has crossed $100 a barrel as the Middle East conflict intensifies, creating a new inflation shock that could keep interest rates, borrowing costs and global financial stress elevated.
OVERVIEW
Brent crude has moved above $100 a barrel as the widening Middle East conflict threatens oil production, shipping routes and energy supplies.
The oil shock is already feeding into higher inflation expectations and elevated bond yields, increasing pressure on central banks to keep monetary policy tighter for longer.
For the global financial system, the danger is the combination of higher energy costs, expensive debt and tighter financial conditions arriving at the same time.
GLOBAL RESET? Gold-Backed “Unit” Tested to Challenge Dollar in BRICS Trade | Andy Schectman
Liberty and Finance: 9-8-2026
Andy Schectman joins Liberty & Finance with a stark warning that global investors are increasingly losing confidence in U.S.
Treasuries while central banks continue accumulating physical gold. He argues that inflation, monetary expansion, soaring energy costs and persistent bond-market weakness are creating conditions that could drive substantially higher prices into late 2026 and 2027.
TNT:
Tishwash: With an increase of one ton, Iraq strengthens its gold reserves and continues its global progress.
Data from the World Gold Council for August 2026 showed that Iraq maintained its position among the world's largest gold holders, with an increase in its holdings compared to its last data.
According to data seen by Shafaq News Agency, Iraq’s gold reserves amounted to 175.6 tons, ranking it 28th globally, with gold constituting about 24.8% of its total reserves. The latest data for Iraq dates back to May 2026.
Compared to previous data, Iraq’s holdings increased from 174.6 tons to 175.6 tons, an increase of one ton.
KTFA
Tuesday Night Video
FRANK26…9-8-26…..OUR ECONOMIST
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: Smaller Notes Only mean One Thing
9-8-2026
Smaller Notes Only Mean One Thing
By Reset Intelligence | @EXIT_FIAT
Iraq’s Parliamentary Finance Committee says it intends to issue banknotes smaller than the 250 dinar note. At today’s official rate, that note is worth about 19 US cents.
BREAKING: Gold Can't Be Confiscated In This State Now | Patrick Holland
Liberty and Finance: 9-7-2026
Missouri has enacted a sweeping Constitutional Money Actthat gives gold and silver legal-tender status.
The law also provides protections against state-assisted confiscation, allows employers and employees to agree to compensation in gold and silver, and requires the state to accept certain electronic gold and silver transfers for taxes and services.
KTFA:
Clare: The Central Bank organizes a workshop on local and international blacklists.
The Banking Studies Center at the Central Bank of Iraq, in cooperation with the Anti-Money Laundering and Counter-Terrorism Financing Office, organized a workshop entitled (Local and International Sanction Lists) as part of the Center’s work plan for 2026.
The workshop aimed to enhance the efficiency of financial and banking personnel and develop mechanisms for financial institutions to comply with international standards and national legislation, as well as to review mechanisms for name screening, alert management, reporting, documentation and effective follow-up procedures.
Ariel: The Current Operational Assessment for Iraq
9-8-2026
Iraq: The Current Operational Assessment (And Other News)
The Sequence Problem, the September Squeeze, and Why the Clarity Act Is the Real Timer
Let me tell you what nobody’s connecting, because everyone’s staring at the budget like it’s the fuse when it’s actually the firecracker that gets thrown ‘after’ the match is lit.
Coffee with MarkZ, Tuesday 09/08/2026
MarkZ Disclaimer: Please consider everything on this call as my opinion. Be sure to consult a professional for any financial decisions
MZ: Denominations smaller than 250, CBI buys more gold, elections around the world, conflict and the fallout. Joined by Lewis Herms.
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
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.
RV Excerpts from the Restored Republic via a GCR Update as of Tues. 8 Sept. 2026
Compiled Tues. 8 Sept. 2026 12:01 am EST by Judy Byington
The Global Financial Transition:
The Quantum Financial System (QFS) operates independently of the current centralized banking model, putting an end to the global perpetuation of “Debt Slavery” by dismantling the existing Central Banking System. …Quantum Financial System Intel on Telegram Mon. 7 Sept. 2026
YEN SURGE SHAKES THE $2.35 TRILLION CARRY TRADE: JAPAN’S CURRENCY REVERSAL COULD REPRICE GLOBAL CAPITAL FLOWS
Japan’s rapidly strengthening yen is forcing investors to reconsider one of the world’s largest funding trades, raising the possibility of broader shifts in global liquidity, asset prices and capital flows.
OVERVIEW
The yen has surged nearly 4% in about a week, reaching a seven-month high as markets increasingly expect the Bank of Japan to raise interest rates.
Cross-border yen borrowing — a proxy for the carry trade — reached a record 360 trillion yen, or approximately $2.35 trillion, in March, according to Jefferies analysis of Bank for International Settlements data.
A sustained yen rally could force investors to unwind leveraged positions and repatriate capital, potentially affecting currencies, bonds and other global assets.
Marc Faber: Imminent Financial Collapse, Money Printing & Gold
Palisades Gold Radio: 9-8-2026
Stijn Schmitz welcomes back Contrarian Investor and Publisher of the Gloom, Boom, & Doom Report Marc Faber to the show.
Faber opened the discussion by emphasizing the unprecedented complexity facing economists and investors today, driven by a confluence of dismal fiscal situations in Western democracies, geopolitical tensions, and the central role of central banks in financing massive deficits.
TNT:
Tishwash: After September 30th, a new security agreement will keep Marines protecting the US Embassy in Baghdad.
On Monday, Hoshyar Zebari, a leader in the Kurdistan Democratic Party, revealed new details regarding the American withdrawal from Iraq, pointing to bilateral security arrangements between Baghdad and Washington, which include the continued presence of US Marines to protect the embassy .
Zebari said in a televised interview followed by Al-Sa’a Network that “this operation will end on September 30,” explaining that “the Iraqi government agreed with the American side two years ago that in 2026 there will be no need for Operation Inherent Resolve .”
KTFA
Monday Night Video
FRANK26…9-7-26…..CURRENCY DEALERS TALK
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#
Rob Cunningham: Mission Abundance
9-7-2026
MISSION ABUNDANCE
Let’s play a game, shall we?
Let’s consider and then process a hypothetical 8 year scenario.
TNT:
Tishwash: An economist predicts the return of the 50 and 100 dinar denominations with the currency change.
Economic expert Mustafa Hantoush suggested on Sunday that the 50 and 100 dinar denominations would return to circulation if the currency change were to proceed, noting the possibility of issuing new currency denominations with stronger security features .
Hantoush said in a televised interview followed by Al-Sa’a Network that “the Central Bank may issue a new currency with advanced security features, with the possibility of introducing currency denominations less than 250 dinars, such as 100 fils .”
CLARITY ACT HITS A CRITICAL WALL: U.S. DIGITAL-FINANCE LEADERSHIP NOW FACES A REGULATORY GAP
Congressional deadlock is putting the future of comprehensive U.S. crypto market-structure legislation in doubt just as federal regulators and other financial centers move ahead with their own digital-asset frameworks.
OVERVIEW
The CLARITY Act remains stalled in the Senate, with a September 15 cloture vote now representing the next major test of whether the legislation can advance.
The delay is being driven by unresolved disagreements over ethics provisions, anti-money-laundering safeguards, stablecoin rewards, community-bank deposits, law-enforcement authority and SEC-CFTC jurisdiction.
Labor Day Coffee with MarkZ. 09/07/2026
Some highlights by PDK-Not verbatim
MarkZ Disclaimer: Please consider everything on this call as my opinion. People who take notes do not catch everything and its best to watch the video so that you get everything in context. Be sure to consult a professional for any financial decisions
MZ: CBI on Currency changes, Erbil/Baghdad, Gold, a bold claim in Venezuela, the fog of war, and Plenty of bond rumors to start the week.
MZ: For a Monday on a holiday weekend I think we have pretty good news and rumors.
Coffee with MarkZ, joined by Zester. 09/09/2026
Some highlights by PDK-Not verbatim
MarkZ Disclaimer: Please consider everything on this call as my opinion. People who take notes do not catch everything and its best to watch the video so that you get everything in context. Be sure to consult a professional for any financial decisions
MZ: HCL dominates the Iraqi news cycle today, Andy can't make it this week and Oil futures hit the 100USD mark.
MZ: On the bond side: 2 contacts have checked in….I was hoping for more.