Background
On February 24, Qi Luo, the CEO of Oli Capital posted a 1 minute and a half long video on his TikTok account named “OliCapital888”. In this video, he once again denied that the statement that was previously made is from him. He said he has received death threats and asked the public to stop reposting the “rumors”. He also claimed that he will pose more videos about the details and countermeasures of the issue on TikiTok and ask people to follow him on social media.
About Oli Capital
Established in 2018, Oli Capital is an Australian-based financial service company. According to the website of Oli Capital, the company invests in a number of stocks, gold, and hydrogen energy concept projects. The founder, Qi Luo, has been actively involved in hundreds of import and export trade between China and Australia and large real estate development projects in Australia since 2000. WikiFX has given this broker a low rating of 1.00/10 as it is suspected to be a Ponzi scheme. Recently Oli Capital reportedly filed for bankruptcy and the CEO of this broker vanished.
Details
WikiFX previously made some reports about the collapse of Oli Capital and its leader allegedly abscond with the money. Rumors have swirled that Oli Capital collapsed and its CEO absconded with the money. WikiFX previously made some reports about this issue. In particular, an open letter purportedly from Qi Luo, CEO of Oli Capital, to all investors has brought the issue to the forefront. The letter was aggressive, even provocative, and angered many investors. However, it was not long before Qi Luo posted a post on the social media platform in which he denied that the open letter was written by him and pointed out that someone had planted it maliciously. Qi Luo also promised to spend the rest of his life paying off his debts.
On February 24, 2023, Qi Luo released a video on TikTok again. In the video, he once again said he did not write the letter, but he acknowledged that parts of it were authentic. Notably, he said the reason why he kept his address private was that he had received death threats. He also said he would broadcast it live on TikiTok in the near future. And he urged others to follow his account.
The Video on TikTok
In the video, Qi Luo said: “… Now the news networks are crazy about me and Oli Capital and several of its subsidiaries…” Qi Luo accused some forces attacking him of irresponsible retweeting without checking the truth. “My personal safety and my personal life, my family, my investment clients and investment partners have been adversely affected…” Qi Luo also once again emphasized in the video that the letter to the investor did not come from him and that it was a fake letter, but Qi Luo said some contents in the letter were authentic. At the end of the video, he said that he would explain in detail the relationship between Oli Capital and the clients, and which parts of the letter are true and which parts are false in a later video. Qi Luo asked viewers to follow his TikTok account.
“Death Threats”
As far as we know, Qi Luo's alleged “death threats” mainly came from angry comments posted on social media by victims on the Internet. They angrily called for crowdfunding for hired killers. No one, however, has explicitly said they would try to kill him. The video he posted today is more about making it seem like he wants people to follow his TikTok account. He fears his current heat and flow will drop.
It doesn't matter whether the letter is from Qi Luo. The important thing is that Oli Capital and its three subsidiaries have declared bankruptcy as Oli Capital has been considered a Ponzi Scheme. Until now, many investors' money still can't be returned. Qi Luo should return the money as soon as possible, instead of continuing to use social media to increase followers and TikTok engagement.
Protecting the legitimate rights and interests of forex traders are always the primary concern of WikiFX. We will keep an eye on this issue. Please stay tuned for more information.
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