Roberto Escobar, the brother of the infamous Medellin Cartel kingpin Pablo Escobar, is launching an initial coin offering (ICO) to raise funds to impeach President Donald Trump.
At the height of Pablo’s power, he was making $70 million a day smuggling 15 tons of cocaine into the United States. When Pablo was finally busted, he built his own prison that was actually more like a royal palace and eventually went on to launch a war that almost destroyed Colombia. Pablo’s brother Roberto played an essential role in the Medellin Cartel as co-founder and the accountant who oversaw $100 billion in cocaine-fueled profits.
After Pablo’s assassination at the hands of Search Bloc and United States special agents, Roberto launched Escobar Inc. to preserve Pablo’s legacy. Now Escobar Inc. is trying to raise funds to impeach President Trump. At first Escobar, Inc. created a GoFundMe page which raised $10 million in only 10 hours but was then delisted.
Less than 24 hours after the GoFundMe page was deleted, Escobar Inc. launched ESCOBAR, an ERC-20 token that is supposed to be a stablecoin like Tether (USDT). Each ESCOBAR is said to be worth $1, but during the first phase of the ICO there is a 75 percent discount, so each ESCOBAR only costs $0.25 and then suddenly becomes worth $1 once the ICO is done. This obviously does not make any sense, and immediately raises a red flag that this could be a scam.
Further, Roberto Escobar’s purpose for the ESCOBAR ICO is to raise funds to impeach President Trump, which implicitly suggests any money invested during the ICO will be spent. Indeed, the first 16 pages of the ESCOBAR white paper is a disclaimer which releases Escobar Inc. from any liability. Explicitly, Escobar Inc. says half of the ICO money will be used to impeach President Trump and the other half to fund the development of ESCOBAR.
Apparently, the reputation of Roberto Escobar, former cartel kingpin, is the reason to invest in ESCOBAR instead of investing in Tether (USDT) according to Escobar Inc. COO Daniel Reitberg.
“Yes, we had plans to release this cryptocurrency in 2019 as a stablecoin alternative to the USD Tether,” Reitberg said. “We do not trust the USDT. We think that people should use our coin, as we have a much larger business sense than most other companies out there and Roberto Escobar has made hundreds of billions of dollars throughout his career.”
Escobar Inc. describes ESCOBAR as a gift to the world: “Due to the recent surge in cryptocurrency prices and the high liquidity of same, Roberto Escobar has decided to give this ESCOBAR token as a gift to the people of the world to further establish the legacy of the Escobar family, and the Escobar Brothers, Pablo and Roberto. Roberto hopes that people will use some of their profits for good deeds.”
Indeed, Roberto has a long reputation of sending gifts throughout the world, but in the past, these gifts mostly consisted of massive cocaine shipments.
It is perhaps possible that Roberto will stick to his word and redeem the tokens for $1 each, but simultaneously, Roberto is one of the most notorious criminals in history, and investing in criminals may not be a good strategy. Further, even though this ICO is being issued from the United Kingdom, it seems so incredibly illegal that perhaps the United States will step across the pond and smash it.