Crypto

VRT shuts down its controversial series ‘FIRE’ after new scandal

Financial independence, early retirement! This catchy slogan belongs to the FIRE movement. A movement created not so long ago, but very quickly became famous in Flanders thanks to the documentary series of the same name.

The abbreviation FIRE stands for “Financial Independence, Retire Early”: the series focuses on the theme of financial independence, which will allow you to retire as soon as possible.

The series has been heavily criticized by the general public since its launch. He highlighted the exceptional successes thanks to the investments made in the field of cryptocurrencies. The screen shows several deliberate decisions about certain investments.

For example, the dangers associated with investing in cryptocurrencies are never discussed. We see only great success. This drew condemnation from the financial watchdog FSMA: “The VRT FIRE series sends a dangerous and unrealistic message to young people. Financial education should teach them the right reflexes when it comes to money,” the organization said in a tweet.

In recent days, the controversy about this has further intensified, and VRT has decided to take the series offline. Reason? They say that one of the faces of the show is involved in the Russian pyramid scheme.

Wout Shrivers is 28 years old and hails from Diepenbeek in Limburg. The latter, who is filming the video in Dubai, claims to be a multi-millionaire and has been retired for two years. He says he earns thousands of euros every day thanks to the traders who invest for him, and then he gets a 1.4% profit.

A fortune that is growing thanks to a certain platform called “Future Trading” … and which is actually an illegal pyramid scheme run by Russian scammers. The system promises high profits, far exceeding what is real. In addition, the profits are paid out from the investment of new customers, which is illegal, the FSMA told VRT NWS. “If an investor in a pyramid scheme is compensated for attracting new investors to the pyramid, rather than for selling or consuming products, this constitutes unfair business practice.”

VRT then decided to turn off the documentary. “With FIRE, we tried to portray a current, albeit controversial, phenomenon with real stories and people. Every attentive viewer understood that not every story in the series can serve as an example to follow. .FIRE was never meant to be an educational program. .”

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