Who owns S Group? Bulat Yefimov

It has been a long time since we discussed the actions of pyramid schemes and other dubious enterprises. In times of economic fluctuations, they get freedom to maneuver. In more recent times, the name S-Group (Sincere System Group) is being pronounced more and more often among newcomers to investing. In this review, we will examine this project in detail and I will share with you my opinion. As always, without prejudice.
Getting to know S-Group for the first time
S-Group is a group of companies, including a large Sincere System Group Ltd. They are active on the Internet and have many sites, including s-group.io and s-group.fun. Access to them is blocked in Russia. The group has “affiliate” sites, social networks, Telegram and YouTube channels. They organize grand events and do publicity to attract investors.

What is Sinsere Systems?
Sincere Systems, British investment funds and holdings, use LEI codes to boost their image on S-Group sites. Their large equity capital of millions of pounds inspires confidence in depositors. Sincere System does have legal registration in the UK.

S-Group registration
All companies are registered at 71-75 Shelton Street, London, UK. This is an inexpensive office center where a “virtual” office costs from £300 a month – slightly above the minimum rate for such services in central London. 

S-Group office
Despite registering as an investment fund, Sincere System had no assets or employees as of June 30, 2022, except for director Mariana Roitburd of Ukraine. But by July 3, 2022, the company was already registered as a public company with 5 million pounds of capital. Earlier, in 2019, Sincere System Ltd was registered at the same address with 1 million pounds of capital and the same sole employee.

Mariana Roitburd, from Ukraine, is a director and owner of multiple non-investment related companies. Sincere System does not appear to be in real business. Her impressive capital may be an investment of unknown persons in the British economy, for example, to obtain a residence permit. The LEI code is just an identifier, gives no privileges.

S-Group’s real owner
Mariana Roitburd (Мариана Ройтбурд) is not only a businesswoman at the head of numerous companies, but also the former wife and business partner of Bulat Yefimov (Булат Ефимов). Bulat Yefimov is a figure many consider the real owner of S Group.

The connection between Mariana and Bulat transcends personal life, they successfully cooperated in business. Yefimov, with his wide connections and business skills, is considered the engine of S Group, while Mariana Roitburd is officially the company’s registered director.

However, even after their divorce, Mariana continues to play a key role in the companies associated with Yefimov. This underscores their ongoing business partnership and common interest in the success of the S Group.

S-Group is a pyramidal structure
There is no available information about the referral program on S-Group’s websites, but you can’t become an investor without a “sponsor.” This is a practice typical of pyramid schemes, where payouts go as long as the inflow of money exceeds the outflow – but it cannot be maintained for a long time.

Reviews about S-Group and conclusions
Reviews from defrauded investors, as usual, while the project works, few. Much more advertising, written like a carbon copy, with a lot of personal insults to critics and realists. I’m willing to see similar things in the comments on this review.

Nevertheless, there are some reviews that are typical of people who are relatively literate and not prone to venture.

S-Group is a scam
S-Group was blacklisted by the Central Bank of Russia on August 31, 2021.

Sincere Systems blacklist
Judging by the fact that the advertising of S-Group is becoming more and more aggressive, S-Group is approaching a stall.

And so, there are the classic signs of a financial pyramid.

  • There is no information about the management of S-Group.
  • Of the feedback, there is only an email address. There is no confidence that this connection is reliable.
  • The main (and apparently the only) source of funds for the project is the money of investors themselves.
  • There is no official economic activity of S-Group
  • There is no evidence of S-Group’s legal earnings from the instruments described
  • The group’s financial obligations to investors may significantly exceed its ability to pay out
  • There is evidence of the project team’s involvement in fraudulent projects (Helix).
  • My feedback S-Group – bypass. At any time the project can close and investors will lose their money.
Artex