Jelurida (Ardor/Ignis/Nxt) Releases 2021 ‘financial report’ 4 years late, it’s damning, Lior Yaffe is the next Sam Bankman-Fried, and their $250,000,000, 8-year rug-pull is just the tip of the iceberg! ????

On 8 May 2025, Jelurida quietly released their 2021 ‘financial report’. I’ve posted it here because it’s super short, and it raises more questions than it answers.

Firstly, and most importantly, there is no mention of any revenues, only costs, however it mentions that Jelurida paid corporate income tax of 4.7m CHF during that financial year.

CORPORATE INCOME TAX IS ONLY PAID ON PROFITS, MEANING THAT JELURIDA - DESPITE SHOWING NO REVENUES - SOMEHOW MADE A TAXABLE PROFIT OF APPROXIMATELY 22m CHF FOR THE FINANCIAL YEAR OF 2021!

This ‘profit’ has come directly from the Ignis ICO investor funds, as can be proven by checking out the transactions for https://www.blockchain.com/explorer/addresses/btc/15T8ADi92wvoTKVuzay7ny2eG1WSBiXk4i

To make matters more interesting, I’ve attached a conversation I had with Mr Lior Yaffe, Jelurida’s pretend Managing Director, from February 2023 - over 2 years before these results were published.

This conversation shows that:

1. Lior says that the wallet was used to “fund other company business” before going on to say that “about the $22m myth, you know that I cannot share info about internal company expenses and investments.”

2. Assuming that Swiss Corporate income tax is 20%, then this matches up almost perfectly with the amount that was extracted from the investor wallet during this financial year.

3. The ‘financial report’ goes on to say that “in our white paper we committed to publishing these financial reports until 80% of the original contributed amount had been spent, and this percentage has now been exceeded.” However, the wholly inadequate report does not mention how this money was spent. A huge red flag!

4. I’ve also attached the 2020 ‘financial report’ - released two years late in 2022. This one claims that Jelurida paid 5.3m CHF in corporate income tax, meaning they would have had profits of +23m CHF in that year too - so that’s 46m CHF of misappropriated investor funds just for those two years alone! Once again, there is no mention of revenues in the report, but the amount extracted from the Jelurida investor wallet correlates almost perfectly!

Jelurida’s scam involved paying tax on investor funds, by declaring them as profits. Investor funds are NOT supposed to be classified as income, and taxing them as profits - over an eight year period - is tax abuse!

Over the next few days, I’m going to post more information about Lior Mordechai Yaffe, and his Jelurida criminal partners Kristina Stoyanova Kalcheva and Tomislav Gountchev, and it gets worse… much worse!

Grab the popcorn guys! ????