Shopping Discussion

Arrest warrants issued for CEO of Moola / Sky Global - potential issue with the gift card app

  • Last Updated:
  • Apr 14th, 2021 9:45 pm
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Deal Fanatic
Dec 20, 2018
5226 posts
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Temporel wrote: Even if it still works...

If you do business from now on with Moola...

You are most likely wittingly encouraging organized crime!
Same for anyone who buys a new home ..it's a big racket in construction industry
Sr. Member
Jul 23, 2010
588 posts
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Toronto
I get the feeling some here couldn't or were too scared to jump on the Moola train so turned to pure salt. Fact is Moola delivered, we got our gift cards and the bonus. The cards all worked or are working. We are enjoying our discounted gas and new toys.

Moola made the pandemic way less suck for sure, discounted gas and essentially bonus money to those who participated. In environment of losing jobs, increasing prices, etc Moola gave back big time.

+1 for Moola
[OP]
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Aug 21, 2007
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Tactical wrote: I get the feeling some here couldn't or were too scared to jump on the Moola train so turned to pure salt. Fact is Moola delivered, we got our gift cards and the bonus. The cards all worked or are working. We are enjoying our discounted gas and new toys.

Moola made the pandemic way less suck for sure, discounted gas and essentially bonus money to those who participated. In environment of losing jobs, increasing prices, etc Moola gave back big time.

+1 for Moola
Yea so I'm all for saving money (I spent over $2k at moola) but not when I'm benefitting someone who aids criminals and drug smugglers. Just an ethics thing, doesn't seem morally right to the victims of these crimes
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Nov 16, 2004
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SomeGuyNamedBob wrote: Yea so I'm all for saving money (I spent over $2k at moola) but not when I'm benefitting someone who aids criminals and drug smugglers. Just an ethics thing, doesn't seem morally right to the victims of these crimes
But how can any one of us confirm anything at this point? The CEO was charged, not convicted. We don't know whether it's related or it's not.

Even if this was a true statement, Moola offered great deals for months / years now. That statement would be valid from TODAY moving FORWARD ... It doesn't change anything in the past because this was not information we had ... If that statement is true.

Let's wait and see before you jump to these conclusions, shall we?

Tangent Time:
Also, maybe this is me not thinking like a criminal, but if I paid Moola $90 for a $100 gift card, that puts me $+10 and then $-10.
They delivered something to me, which put them $-10.

So, other than access to A LOT of money, where is the benefit in this plan? I mean, if we are going to talk about it, can we REALLY talk about it?
As far as I see it, that's as if you have $10 Million Dollars and only get a $9 Million Dollar return, out of the gate.

Isn't the claim more about the security / programs they are using that's a cover up for organized crime ...
That, drug money was used to PURCHASE the gift cards and then they were offloaded quickly by offering a sale on the gift cards?

I mean, if that's what you guys want to discuss then discuss it lol
SomeGuyNamedBob wrote: not when I'm benefitting someone who aids criminals and drug smugglers. Just an ethics thing, doesn't seem morally right
But we just don't know that.

We didn't know that THEN
And we still don't know that now.

When someone is convicted and name Moola on the file, then we can go oh wow this is horrible!
But we aren't there yet lol

That's too big of a statement to make at this time, you are summarizing way too much

Edit: You want to throw Moola away. Awesome. I will throw them away too - when the time comes.
We know nothing at this point so I'm not going to weigh in here nor there. I am going to sit and read and wait. We don't have the information, how can we judge?
Last edited by DaVibe on Mar 18th, 2021 12:06 pm, edited 2 times in total.
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henrik112 wrote: Man, I hope nothing like this happens with UGOWallet
UGO Wallet is owned by TD.
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orbitdesign wrote: UGO Wallet is owned by TD.
Exactly, different scenario entirely.
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SomeGuyNamedBob wrote: Yea so I'm all for saving money (I spent over $2k at moola) but not when I'm benefitting someone who aids criminals and drug smugglers. Just an ethics thing, doesn't seem morally right to the victims of these crimes
Do you ever buy anything that's Made in China? The ethics of most of those items has been proven to be extremely poor.
At this time nothing has been proven about Moola.
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SomeGuyNamedBob wrote: Yea so I'm all for saving money (I spent over $2k at moola) but not when I'm benefitting someone who aids criminals and drug smugglers. Just an ethics thing, doesn't seem morally right to the victims of these crimes
Took a shower, still thinking about these comments.
So do you think you are morally superior over everyone on RFD who participated with Moola?
Because that's how it's coming across.

Low participation = morally superior
Over users who had
High participation = corrupt, less morals

Seriously?

Just find these comments offensive if you want to explain
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StatsGuy wrote: Same for anyone who buys a new home ..it's a big racket in construction industry
There's a difference between UNKNOWINGLY having a drink in a bar that turns out to be owned by the Mafia and KNOWINGLY having a drink in a bar that is owned by the Mafia.

The difference is knowing or not.

Now we know about Moola.

@Tactical it doesn't matter if the drink was nice or not.
Last edited by Temporel on Mar 18th, 2021 1:03 pm, edited 1 time in total.
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Temporel wrote: There's a difference between UNKNOWINGLY having a drink in a bar that turns out to be owned by the Mafia and KNOWINGLY having a drink in a bar that is owned by the Mafia.

The difference is knowing or not.

Now we know about Moola.
How do we know that? Has there been a trial and conviction?
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tofinoguy wrote: How do we know that? Has there been a trial and conviction?
Keep being delusional.
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Aug 29, 2007
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Jon Lai wrote: I'm not suggesting anything malicious here, but I don't think this is a valid rebuttal considering it's not like banks in general don't commit or find themselves involved with organized crime.
True enough, but I'd like to believe that TD isn't using UGO Wallet as a shell company to funnel funds from overseas drugs. But anything is possible.
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Dec 26, 2014
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If you look at how Moola operates it can definitely work as a way to launder illegal money to "clean" money. The amount lost on selling the GCs would essentially just be the cost of doing business.

Like every $1 of illegal profit you make can become $0.80+ of "clean" profit by buying and reselling GCs en masse and you still come out way ahead. And of course companies selling large amount of GCs at bulk discounts (to face value) to 3rd-party companies to resell to consumers on places like Ebay is nothing new.
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Temporel wrote: Keep being delusional.
I don't know about you, but I live in a country where people are presumed innocent until proven guilty.
It's well documented that police aren't always right.
Beyond someone getting arrested that still needs to go to trial, everything else in this thread is an assumption. There are NO facts.
I said in my initial post that there's certainly a chance that the theories are correct, but at this point, that's all they are. Theories.
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Dec 15, 2001
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Mix in some fictitious customers and real ones... and allow Bitcoin as a form of payment. Pretty much makes it impossible for CRA to uncover anything or raise red flags. Guess it's in the hands of law enforcement to figure out any wrong doing.
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Feb 4, 2011
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DaVibe wrote: Took a shower, still thinking about these comments.
So do you think you are morally superior over everyone on RFD who participated with Moola?
Because that's how it's coming across.

Low participation = morally superior
Over users who had
High participation = corrupt, less morals

Seriously?

Just find these comments offensive if you want to explain
Why would you feel offended when someone expresses their opinion about things they believe unethical?

I don't do piracy. So, does that offend you as well? Or Did we reach a stage where practicing ethical life offends others?
[OP]
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Aug 21, 2007
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DaVibe wrote:
Tangent Time:
Also, maybe this is me not thinking like a criminal, but if I paid Moola $90 for a $100 gift card, that puts me $+10 and then $-10.
They delivered something to me, which put them $-10.

So, other than access to A LOT of money, where is the benefit in this plan? I mean, if we are going to talk about it, can we REALLY talk about it?
As far as I see it, that's as if you have $10 Million Dollars and only get a $9 Million Dollar return, out of the gate.
As others have pointed out, this is a classic technique used to launder money. You want to create as many transactions as possible to obfuscate what is clean and what is dirty money. The more indirection and layers the better. Makes it really hard for law-enforcement to recover funds when half the funds are now split up across millions of people, and you don't know which half is legit.

Example: I paid Moola $90 of "clean" money, they send me $100 of "dirty" money. There's only $10 of dirty money that was exchanged right? But if you look at it from the source of the dirty funds the police now have to go and cancel everyone's gift cards since the gift cards were likely purchased in bulk with dirty money. And then law enforcement has to figure out how to refund you back the $90? But you've already spent the gift card which had $100 on it... Oh boy, what a huge convoluted mess, and that is exactly what a criminal wants

Plus Moola accepted bitcoin, which makes it even more messy. And as the indictment said, Sky Global set up multiple shell companies, another classic money laundering tactic. I believe it said Eap owned 5 sushi restaurants in Vancouver. Normally the goal is to setup a middleman operation that performs only minimal services but has a large volume of transactions on paper (i.e. a carwash that seems to have lots of customers paying cash). It was smart of Sky Global to setup a company like Moola which also has a large volume of "middle men" transactions but doesn't actually make/sell any goods or services

Last edited by SomeGuyNamedBob on Mar 18th, 2021 2:21 pm, edited 1 time in total.
[OP]
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Aug 21, 2007
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I'm amazed that some people are still defending them. Literary everything about this operation doesn't make sense and it shady as all hell. If it walks like a duck, talks like a duck...
But go ahead and keep giving them the benefit of the doubt. Invest your money in them, I don't care. I for one am not purchasing any more gift cards from them and trying to liquidate the ones that I still have
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tofinoguy wrote: I don't know about you, but I live in a country where people are presumed innocent until proven guilty.
It's well documented that police aren't always right.
Beyond someone getting arrested that still needs to go to trial, everything else in this thread is an assumption. There are NO facts.
I said in my initial post that there's certainly a chance that the theories are correct, but at this point, that's all they are. Theories.
Presumption of innocence is a right in a criminal court, not in the court of public opinion.

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