Latest news with #Gustafsson
Time of India
23-07-2025
- Business
- Time of India
The Escobar Fold phones were a scam after all
Remember those unbelievably cheap foldable phones branded with Pablo Escobar 's name? Turns out they were exactly what they looked like, too good to be true and a scam. Olof Kyros Gustafsson , the 32-year-old Swedish mastermind behind Escobar Inc. , pleaded guilty to fraud and money laundering charges, finally putting an end to one of tech's most brazen scams. Gustafsson convinced thousands of people to shell out $399 for the " Escobar Fold 2 ," promising cutting-edge foldable technology at a fraction of Samsung's $2,000 Galaxy Fold price. The catch? Most never received their phones. Those lucky few (mostly influencers) who did get a package found Samsung Galaxy Folds wrapped in cheap gold foil, Escobar Fold phones were not made by Escobar Inc. The Escobar Inc caught attention when Marques Brownlee famously unboxed an Escobar Fold 2 on YouTube, revealing it was simply a Samsung Galaxy Fold with gold foil stickers slapped on top. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Why seniors are rushing to get this Internet box – here's why! Techno Mag Learn More Undo Even more telling, Gustafsson later admitted in company correspondence that the Fold 2 was "an overstock purchase of the Samsung Galaxy Fold" bought from retailers and wholesalers. The first device, the Fold 1, bore striking similarities to the FlexPai from Chinese manufacturer Royole, though Gustafsson denied any connection. Now, that Fold 2, per Marques, was sent by Escobar Inc. themselves. That tells that Gustafsson deliberately sent sample devices to influencers to drum up interest, knowing the buzz would drive more orders. It worked, The videos inadvertently gave the fake company some credibility, eventually pocketing over $300,000 from unsuspecting customers. Books instead of Folds These thousands of people who paid around $399, would get a "Certificate of Ownership," over their mail. After that one would hope for their Escobar Fold phone. Instead they received Pablo Escobar's brother Roberto's autobiography and a congratulatory flyer featuring scantily-clad women. When buyers demanded refunds, Gustafsson used these book shipments as "proof" that products had been delivered, successfully blocking refund requests through payment processors. The company didn't stop at phones. Gustafsson also hawked "Escobar Flamethrower," a dupe of Elon Musk's Boring Company flamethrower, an "Escobar Gold 11 Pro Phone" that was supposedly a refurbished iPhone, and even "Escobar Cash," that the Escobar Inc. marketed as the world's first physical cryptocurrency. None of these products existed beyond promotional materials and the occasional sample sent to reviewers. CEO faces 20 years jailtime for $1.3M fraud Federal investigators eventually caught up with Gustafsson's operation. He was arrested at his home in Marbella, Spain, in December 2023 during a joint raid by Spanish police and U.S. Internal Revenue Service agents. After unsuccessfully seeking asylum in Spain to avoid extradition, he was brought to Los Angeles to face charges for 115-count federal indictment Court documents show Gustafsson laundered over $307,000 through bank accounts in the United States, Sweden, and the United Arab Emirates during just the first six months of the scheme. Gustafsson sentencing is scheduled for December 5, and he faces faces up to 20 years in federal prison on fraud charges and up to 10 years for money laundering when he's sentenced on December 5th. He must also pay $1.3 million in restitution to the customers he duped, though many victims are likely wondering if they'll ever see that money either. AI Masterclass for Students. Upskill Young Ones Today!– Join Now
Straits Times
26-06-2025
- Politics
- Straits Times
Sweden Democrats apologise for past Nazi links, antisemitism as election nears
FILE PHOTO: Jimmie Akesson, leader of the Sweden Democrats Party, attends a news conference at the Parliament press office regarding the formation of the government, in Stockholm, Sweden October 14, 2022. TT News Agency/Jonas Ekstromer via REUTERS ATTENTION EDITORS - THIS IMAGE WAS PROVIDED BY A THIRD PARTY. SWEDEN OUT. NO COMMERCIAL OR EDITORIAL SALES IN SWEDEN./File Photo STOCKHOLM - The anti-immigration Sweden Democrats apologised on Thursday for the party's past Nazi links and antisemitism, part of efforts to present a more moderate, mainstream image to voters ahead of a national election next year. The Sweden Democrats were presenting the results of a specially commissioned study that found Nazi and antisemitic views to have been common at party functions and in its printed materials in the 1980s and 1990s. "That there have been clear expressions of antisemitism and support for National Socialist ideas in my party's history I think is disgusting and reprehensible," Mattias Karlsson, a member of parliament often described as the party's chief ideologist, told a news conference. "I would like to reiterate the party's apology, above all to Swedish citizens of Jewish descent who may have felt a strong sense of insecurity and fear for good reasons." The commissioning of the study sought to acknowledge and break with a past that has long hindered its cooperation with Sweden's mainstream political parties. The Sweden Democrats hope to join a future coalition government after the 2026 election. The party first entered parliament in 2010 and currently supports Sweden's governing right-wing coalition government but has no members in the cabinet. Tony Gustafsson, the historian hired by the party to write the book, said the party had emerged in the 1980s out of neo-Nazi and white supremacist organizations and that it had continued to cooperate with them into the 1990s. "The collaboration seems to have involved using these groups to help distribute election materials," Gustafsson said, adding there were strong indications that one such group, the "White Aryan Resistance", had served as security guards at party gatherings. Gustafsson said there had been a clear connection to Nazism until 1995, the year that current party leader Jimmie Akesson joined the Sweden Democrats, but that the Sweden Democrats had begun distancing itself from such links thereafter. REUTERS Join ST's Telegram channel and get the latest breaking news delivered to you.
USA Today
11-06-2025
- Sport
- USA Today
Andreas Gustafsson took back-to-back weight cuts in stride at UFC 316: ‘That's life'
Andreas Gustafsson took back-to-back weight cuts in stride at UFC 316: 'That's life' Show Caption Hide Caption UFC 316: Andreas Gustafsson post-fight interview UFC 316 winner Andreas Gustafsson spoke to MMA Junkie and reporters post-fight after his unanimous decision victory over Khaos Williams. NEWARK, N.J. – Andreas Gustafsson met the media Saturday after his win over Khaos Williams at UFC 316. Gustafsson (12-2 MMA, 1-0 UFC) took a unanimous decision from Williams (15-5 MMA, 6-4 UFC) on the preliminary card at Prudential Center. He was an underdog in the fight, but also took the matchup on a week's notice. Gustafsson was set to fight a week prior against Jeremiah Wells, but had an opponent switch to Trevin Giles on short notice. Then Giles suffered an injury on weigh-in day that canceled the fight. Gustafsson got pushed to a bigger event at UFC 316, but had to endure the drama of changing matchups and the annoyance of back-to-back weight cuts. 'It's a long and never-ending fight week – the first week when you have weight, and then you have to start over,' Gustafsson said at his post-fight news conference. 'That's life. It feels great (to win).' Check out Gustafsson's post-fight news conference in the video above.
Yahoo
04-06-2025
- Business
- Yahoo
Ministers to unveil revamped Whitehall investment hub
Ministers will this week unveil a revamp of the Whitehall investment hub that they hope will secure hundreds of billions of capital flows into the UK in the coming years. Sky News understands that Baroness Gustafsson, the investment minister, will address a private event on Thursday designed to relaunch the Office for Investment (OfI). Government sources said the revamp - in which Sir Keir Starmer's top officials and the Treasury have been closely involved - would align the UK's 'investment resources' under a single brand. The new OfI has absorbed teams from other Whitehall directorates with the objective of reducing confusion among international investors in Britain, according to the sources. Greg Jackson, the Octopus Energy chief, and Baroness Lane Fox, who chairs the British Chambers of Commerce, are expected to speak at the event in central London alongside senior government officials, according to people familiar with the agenda. Thursday's summit will come days before ministers launch the new industrial strategy, with the OfI charged with targeting investors in priority sectors such as clean energy, advanced manufacturing and life sciences. A beefed-up investment hub was among the key recommendations of the former business minister Lord Harrington's review - commissioned by then-chancellor Jeremy Hunt - in 2023. One insider said last year's International Investment Summit, at which ministers claimed to have drawn £63bn of new investment for the UK, provided a solid foundation for the revamped OfI. A further event designed to attract inward investment will be held in Birmingham later this year, the chancellor, Rachel Reeves, announced on Wednesday. The Department for Business and Trade declined to comment on Wednesday afternoon.
Yahoo
03-06-2025
- Entertainment
- Yahoo
UFC 316 makes two new fights official days prior to event
UFC 316 is days away and the lineup is still being tinkered with. After independent reports in recent days, the promotion made official two new fights for Saturday's card at Prudential Center in Newark, N.J. Advertisement Khaos Williams, who needed an opponent after withdrawals from Uros Medic and Albert Tadevosyan. He will now fight Andreas Gustafsson, who was expected to fight this past Saturday, but who had his bout canceled when opponent Trevin Giles fell and hit his head on weigh-ins day. Front Kick Online first reported the bout. Williams (15-4 MMA, 6-3 UFC) and Gustafsson (11-2 MMA, 0-0 UFC) are bout strike-heavy fighters, which could make for an appealing matchup for violence seekers. Williams aims to bounce back from a submission loss to Gabriel Bonfim. Gustafsson looks to make the most out of his UFC debut after an impressive TKO win over Pat Pytlik on Dana White's Contender Series. Eurosport NL first reported the bout. Additionally, a lightweight bout between promotional newcomer Mark Choinski and MarQuel Mederos has been added to the card. Choinski (8-0 MMA, 0-0 UFC) enters the promotion as the Anthony Pettis FC lightweight champion. Factory X's Mederos (10-1 MMA, 2-0 UFC) aims to maintain his perfect career record after consecutive UFC victories over Landon Quinones and Austin Hubbard. This article originally appeared on MMA Junkie: UFC 316 makes two new fights official days prior to event
