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John Clifton Davies, a convicted fraudster estimated to have bilked dozens of technology startups out of more than $30 million through phony investment schemes, has a brand new pair of scam companies that are busy dashing startup dreams: A fake investment firm called Equity-Invest[.]ch, and Diligere[.]co.uk, a scam due diligence company that Equity-Invest insists all investment partners use.
A native of the United Kingdom, Mr. Davies absconded from justice before being convicted on multiple counts of fraud in 2015. Prior to his conviction, Davies served 16 months in jail before being cleared on suspicion of murdering his third wife on their honeymoon in India.
The scam artist John Bernard (left) in a recent Zoom call, and a photo of John Clifton Davies from 2015.
John Clifton Davies was convicted in 2015 of swindling businesses throughout the U.K. that were struggling financially and seeking to restructure their debt. For roughly six years, Davies ran a series of firms that pretended to offer insolvency services. Instead, he simply siphoned what little remaining money these companies had, spending the stolen funds on lavish cars, home furnishings, vacations and luxury watches.
In a three-part series published in 2020, KrebsOnSecurity exposed how Davies — wanted by authorities in the U.K. — had fled the country, taken on the surname Bernard, remarried, and moved to his new (and fourth) wife’s hometown in Ukraine.
After eluding justice in the U.K., Davies reinvented himself as The Private Office of John Bernard, pretending to be a billionaire Swiss investor who made his fortunes in the dot-com boom 20 years ago and who was seeking private equity investment opportunities.
In case after case, Bernard would promise to invest millions in hi-tech startups, only to insist that companies pay tens of thousands of dollars worth of due diligence fees up front. However, the due diligence company he insisted on using — another Swiss firm called The Inside Knowledge — also was secretly owned by Bernard, who would invariably pull out of the deal after receiving the due diligence money.
Bernard found a constant stream of new marks by offering extraordinarily generous finders fees to investment brokers who could introduce him to companies seeking an infusion of cash. Inside Knowledge and The Private Office both closed up shop not long after being exposed here in 2020.
In April 2023, KrebsOnSecurity wrote about Codes2You, a recent Davies venture which purports to be a “full cycle software development company” based in the U.K. The company’s website no longer lists any of Davies’ known associates, but the site does still reference software and cloud services tied to those associates — including MySolve, a “multi-feature platform for insolvency practitioners.”
Earlier this month, KrebsOnSecurity heard from an investment broker who found out his client had paid more than $50,000 in due diligence fees related to a supposed multi-million dollar investment offer from a Swiss concern called Equity-Invest[.]ch.
The investment broker, who spoke on condition that neither he nor his client be named, said Equity-Invest began getting cold feet after his client plunked down the due diligence fees.
“Things started to go sideways when the investor purportedly booked a trip to the US to meet the team but canceled last minute because ‘his pregnant wife got in a car accident,'” the broker explained. “After that, he was radio silent until the contract expired.”
The broker said he grew suspicious when he learned that the Equity-Invest domain name was less than six months old. The broker’s suspicions were confirmed after he discovered the due diligence company that Equity-Invest insisted on using — Diligere[.]co.uk — included an email address on its homepage for another entity called Ardelis Solutions.
A corporate entity in the UK called Ardelis Solutions was key to showing the connection to Davies’ former scam investment and due diligence firms in the Codes2You investigation published earlier this year.
Although Diligere’s website claims the due diligence firm has “13 years of experiance” [sic], its domain name was only registered in April 2023. What’s more, virtually all of the vapid corporate-speak published on Diligere’s homepage is identical to text on the now-defunct InsideKnowledge[.]ch — the fake due diligence firm secretly owned for many years by The Private Office of John Bernard (John Clifton Davies).
A snippet of text from the now-defunct website of the fake Swiss investor John Bernard, in real life John Clifton Davies.
“Our steadfast conviction and energy for results is what makes us stand out,” both sites state. “We care for our clients’ and their businesses, we share their ambitions and align our goals to complement their objectives. Our clients know we’re in this together. We work in close partnership with our clients to deliver palpable results regardless of geography, complexity or controversy.”
The copy on Diligere’s homepage is identical to that once on Insideknowledge[.]com, a phony due diligence company run by John Clifton Davies.
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John Clifton Davies, a 60-year-old con man from the United Kingdom who fled the country in 2015 before being sentenced to 12 years in prison for fraud, has enjoyed a successful life abroad swindling technology startups by pretending to be a billionaire investor. Davies’ newest invention appears to be “CodesToYou,” which purports to be a “full cycle software development company” based in the U.K.
The scam artist John Bernard a.k.a. Alan John Mykailov (left) in a recent Zoom call, and a mugshot of John Clifton Davies from nearly a decade earlier.
Several articles here have delved into the history of John Bernard, the pseudonym used by a fake billionaire technology investor who tricked dozens of startups into giving him tens of millions of dollars.
John Bernard’s real name is John Clifton Davies, a convicted fraudster from the United Kingdom who is currently a fugitive from justice. For several years until reinventing himself again quite recently, Bernard pretended to be a billionaire Swiss investor who made his fortunes in the dot-com boom 20 years ago.
“The Private Office of John Bernard” let it be known to investment brokers that he had tens of millions of dollars to invest in tech startups, and he attracted a stream of new victims by offering extraordinarily generous finder’s fees to brokers who helped him secure new clients. But those brokers would eventually get stiffed because Bernard’s company would never consummate a deal.
John Bernard’s former website, where he pretended to be a billionaire tech investor.
Bernard would promise to invest millions in tech startups, and then insist that companies pay tens of thousands of dollars worth of due diligence fees up front. However, the due diligence company he insisted on using — another Swiss firm called The Inside Knowledge GmbH — also was secretly owned by Bernard, who would invariably pull out of the deal after receiving the due diligence money.
A variety of clues suggest Davies has recently adopted at least one other identity — Alan John Mykhailov — who is listed as chairman of a British concern called CodesToYou LTD, incorporated in May 2022. The CodesToYou website says the company employs talented coders in several countries, and that its programmers offer “your ultimate balance between speed, cost and quality.”
The team from CodesToYou.
In response to questions from KrebsOnSecurity, CodesToYou’s marketing manager — who gave their name only as “Zhena” — said the company was not affiliated with any John Bernard or John Clifton Davies, and maintained that CodesToYou is a legitimate enterprise.
But publicly available information about this company and its leadership suggests otherwise. Official incorporation documents from the U.K.’s Companies House represent that CodesToYou is headed by an Alan John Mykhailov, a British citizen born in March 1958.
Companies House says Mykhailov is an officer in three other companies, including one called Blackstone Corporate Alliance Ltd. According to the Swiss business tracking service business-monitor.ch, Blackstone Corporate Alliance Ltd. is currently the entity holding a decision-making role in John Bernard’s fake due diligence company — The Inside Knowledge GmbH — which is now in liquidation.
A screen shot of the stock photos and corporate-speak on John Bernard’s old website. Image: Archive.org
Also listed as a partner in Blackstone Corporate Alliance Limited is Igor Hubskyi (a.k.a. Igor Gubskyi), a Ukrainian man who was previously president of The Inside Knowledge GmbH.
The CodesToYou website says the company’s marketing team lead is Maria Yakovleva, and the photo of this employee matches the profile for the LinkedIn account name “Maria Y.” That same LinkedIn profile and photo previously listed Maria by a different first and last name — Mariya Kulikova; back then, Ms. Kulikova’s LinkedIn profile said she was an executive assistant in The Private Office of Mr. John Bernard.
Companies House lists Alan John Mykhailov as a current officer in two other companies, including Frisor Limited, and Ardelis Solutions Limited. A cached copy of the now-defunct Ardelis Solutions website says it was a private equity firm.
CodesToYou’s Maria also included Ardelis Solutions in the work history section of her LinkedIn resume. That is, until being contacted by this author on LinkedIn, after which Maria’s profile picture and any mention of Ardelis Solutions were deleted.
Listed as head of business development at CodesToYou is David Bruno, a Canadian man whose LinkedIn profile says he is founder of an organization called “World Privacy Resource.” As KrebsOnSecurity reported in 2020, Bruno was at the time promoting himself as the co-CEO of a company called SafeSwiss Secure Communication AG, and the founder of another tech startup called Secure Swiss Data.
Secure Swiss Data’s domain — secureswissdata.com — is a Swiss concern that sells encrypted email and data services. According to DomainTools.com, that website name was registered in 2015 by The Inside Knowledge GmbH. In February 2020, a press release announced that Secure Swiss Data was purchased in an “undisclosed multimillion buyout” by SafeSwiss Secure Communication AG.
A cached copy of the Ardelis Solutions website, which said it was a private equity firm and included similar stock images as John Bernard’s investment website.
When reached in 2020 and asked about his relationship to Mr. Bernard, Mr. Bruno said the two were business partners and that he couldn’t imagine that Mr. Bernard would be involved in anything improper. To this day Mr. Bruno is the only person I’ve spoken to who has had anything positive to say about Mr. Bernard.
Mr. Bruno did not respond to requests for comment this time around, but his LinkedIn profile no longer makes any mention of Secure Swiss Data or SafeSwiss — both companies he claimed to run for many years. Nor does it mention CodesToYou. However, Mr. Bruno’s former company SafeSwiss is listed as one of the six “portfolio” companies whose services are promoted on the CodesToYou website.
In mid-2021, Bruno announced he was running for public office in Ontario.
“The Kenora resident is no stranger to the government as he contributed to Canada’s new Digital Charter, Bill C-11, which is a new Cyber Security policy,” reported Drydennow.com, a news website that covers Northwestern Ontario. Drydennow says the next federal election is expected to be held on or before Oct. 16, 2023.
John Clifton Davies was convicted in 2015 of swindling businesses throughout the U.K. that were struggling financially and seeking to restructure their debt. For roughly six years, Davies ran a series of firms that pretended to offer insolvency services, but instead simply siphoned what little remaining money these companies had.
The very first entity mentioned in the technology portfolio advertised on the CodesToYou website is called “MySolve,” and it purports to offer a “multi-feature platform for insolvency practitioners.”
Mr. Davies’ fourth wife, Iryna Davies, is listed as a director of one of the insolvency consulting businesses in the U.K. that was part of John Davies’ 2015 fraud conviction. Prior to his trial for fraud, Davies served 16 months in jail before being cleared of murdering his third wife on their honeymoon in India: Colette Davies, 39, died after falling 80 feet from a viewing point at a steep gorge in the Himachal Pradesh region of India.
Mr. Davies was charged with murder and fraud after he attempted to collect GBP 132,000 in her life insurance payout, but British prosecutors ultimately conceded they did not have enough evidence to convict him.
The scams favored by Davies and his alter egos are smart because he never approaches investors directly; rather, investors are incentivized to put his portfolio in front of tech firms seeking financial backing. And all the best cons begin as an idea or possibility planted in the target’s mind.
It’s also a reliable scam because companies bilked by small-time investment schemes rarely pursue legal action, mainly because the legal fees involved can quickly surpass the losses. On top of that, many victims will likely be too ashamed to admit their duping. Victims who do press their case in court and win then face the daunting challenge of collecting damages from a slew of ephemeral shell corporations.
The latest Bernard victim to speak publicly — a Norwegian company hoping to build a fleet of environmentally friendly shipping vessels — is now embroiled in a lawsuit over a deal gone bad. As part of that scam, Bernard falsely claimed to have secured $100 million from six other wealthy investors, including the founder of Uber and the artist Abel Makkonen Tesfaye, better known as The Weeknd.
If you liked this story, check out my previous reporting on John Bernard/Davies:
Due Diligence That Money Can’t Buy
Who is Tech Investor John Bernard?
Promising Infusions of Cash, Fake Investor John Bernard Walked Away With $30 Million
Investment Scammer John Davies Reinvents Himself?
Fake Investor John Bernard Sinks Norwegian Green Shipping Dreams
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Cisco Live is the premier destination for Cisco customers and partners to gain knowledge and build community. Our teams work hard to deliver education and inspiration, ignite creativity, deliver practical know-how, and accelerate the connections that fuel your digital future.
The Cisco Secure team is excited to share our expertise to help power the strategies – and safety – of your organization.
In 2023, the threat landscape will evolve to one that sees attacks on every surface, from criminals who are opportunistic, yet laser-focused on their goal. The attacks themselves could be email-borne, directly targeted, socially based, or a mix of all three.
Criminals will target vulnerabilities, operational deficiencies, suppliers, and business partners, as a means of accomplishing their goals. They will use the target’s own environment and take advantage of existing people and technology problems, including alert fatigue and staffing shortages.
To face this reality and address the needs of organizations both large and small, Cisco will continue to focus on education and innovation in the areas of preventing insider threats, providing consistent and informed alerts, enabling actionable intelligence, and delivering solutions to implement a zero-trust security framework.
As the organization that pioneered networking, we are driven to secure every connection, providing end-to-end protection for users and devices across multiple clouds and networks with a seamless experience.
As our vision for the integrated Cisco Security Cloud evolves, we’re continuing to challenge existing models and unify security and networking, with foundational elements that execute on this vision. From verified push – which protects organizations from MFA-focused phishing attacks – to Wi-Fi Fingerprint, and Remembered Devices, the performance enhancements with Enterprise Single Sign-on and Cisco+ Secure Connect, we continue to meet our customers where they are, offering true zero trust, with frictionless experiences for the hybrid workforce.
We’re excited to celebrate the following innovations and updates announced at Cisco Live EMEA:
Finding the balance between usability and security is now easier than ever. With Risk-Based Authentication, users have the access they need, secured by real-time contextual signals. Organizations can increase security efficacy by dynamically adjusting authentication requirements based on risk levels and by enabling safer end-user behavior. Risk-based authentication now includes wi-fi fingerprint, remembered device, and verified push features, which work together to reduce risk while preserving user experience by only requesting additional interaction for suspicious logins or a change in risk.
Our Enterprise Ready Single Sign-on expands Duo SSO with three new capabilities to easily connect single sign-on to modern apps and empower end users. By adding major protocol support, improved admin tooling, and SSO on demand password resets, organizations enable easier and more secure access from anywhere.
Cisco SD-WAN customers can now enjoy all the benefits of a turnkey, single-vendor SASE solution that brings together industry-leading networking with security: Cisco+ Secure Connect. This new integration gives Cisco SD-WAN (powered by Viptela) customers fast, secure private application and internet access, enabling them to deliver a secure experience, anywhere work happens.
We are also announcing the introduction of industry-first Business Risk Observability, an enhancement of our Full-Stack Observability application security solution. Available through Cisco Secure Application, which is integrated into Cisco AppDynamics, it provides a business risk scoring solution which brings together Kenna Risk Meter score distribution and Business Transactions from Cisco AppDynamics and integrates with Panoptica for API security and Talos for threat intelligence.
The initial findings from our first Cybersecurity Readiness Index reveal that while technology to devices is widely adopted, more progress is needed to protect identity, networks and applications. The report assessed the preparedness of companies around the world to safeguard against cyber threats in the current environment. See our key findings and security readiness trends, with the full report launching in the coming weeks.
As we navigate 2023, we will continue to face uncertainties and challenges. We are fully committed to our customers and partners in the journey to provide security resilience, supporting a frictionless user experience, and solutions threat intelligence that work to continually minimize risk.
We’d love to hear what you think. Ask a Question, Comment Below, and Stay Connected with Cisco Secure on social!
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Have you ever been browsing online and clicked a link or search result that took you to a site that triggers a “your connection is not private” or “your connection is not secure” error code? If you’re not too interested in that particular result, you may simply move on to another result option. But if you’re tempted to visit the site anyway, you should be sure you understand what the warning means, what the risks are, and how to bypass the error if you need to.
A “your connection is not private” error means that your browser cannot determine with certainty that a website has safe encryption protocols in place to protect your device and data. You can bump into this error on any device connected to the internet — computer, smartphone, or tablet.
So, what exactly is going on when you see the “this connection is not private” error?
For starters, it’s important to know that seeing the error is just a warning, and it does not mean any of your private information is compromised. A “your connection is not private” error means the website you were trying to visit does not have an up-to-date SSL (secure sockets layer) security certificate.
Website owners must maintain the licensing regularly to ensure the site encryption capabilities are up to date. If the website’s SSL certificate is outdated, it means the site owners have not kept their encryption licensing current, but it doesn’t necessarily mean they are up to no good. Even major websites like LinkedIn have had momentary lapses that would throw the error. LinkedIn mistakenly let their subdomain SSL certificates lapse.
In late 2021, a significant provider of SSL certificates, Let’s Encrypt, went out of business. When their root domain officially lapsed, it created issues for many domain names and SSL certificates owned by legitimate companies. The privacy error created problems for unwitting businesses, as many of their website visitors were rightfully concerned about site security.
While it does not always mean a website is unsafe to browse, it should not be ignored. A secure internet connection is critical to protecting yourself online. Many nefarious websites are dangerous to visit, and this SSL certificate error will protect you from walking into them unaware.
SSL certification standards have helped make the web a safer place to transact. It helps ensure online activities like paying bills online, ordering products, connecting to online banking, or keeping your private email accounts safe and secure. Online security continues to improve with a new Transport Layer Security (TLS) standard, which promises to be the successor protocol to SSL.
So be careful whenever visiting sites that trigger the “connection is not private” error, as those sites can potentially make your personal data less secure and make your devices vulnerable to viruses and malware.
Note: The “your connection is not private” error is Google Chrome‘s phrasing. Microsoft Edge or Mozilla Firefox users will instead see a “your connection is not secure” error as the warning message.
If you feel confident that a website or page is safe, despite the warning from your web browser, there are a few things you can do to troubleshoot the error.
Remember, you are taking your chances anytime you ignore an error. As we mentioned, you could leave yourself vulnerable to hackers after your passwords, personal information, and other risks.
Your data and private information are valuable to hackers, so they will continue to find new ways to try and procure it. Here are some ways to protect yourself and your data when browsing online.
As we continue to do more critical business online, we must also do our best to address the risks of the internet’s many conveniences.
A comprehensive cybersecurity tool like McAfee+ Ultimate can help protect you from online scams, identity theft, and phishing attempts, and ensure you always have a secure connection. McAfee helps keep your sensitive information out of the hands of hackers and can help you keep your digital data footprints lighter with personal data cleanup.
With McAfee’s experts on your side, you can enjoy everything the web offers with the confidence of total protection.
The post “This Connection Is Not Private” – What it Means and How to Protect Your Privacy appeared first on McAfee Blog.
Following up on our previous blog, How to Stop the Popups, McAfee Labs saw a sharp decrease in the number of deceptive push notifications reported by McAfee consumers running Microsoft’s Edge browser on Windows.
Such browser-delivered push messages appear as toaster pop-ups in the tray above the system clock and are meant to trick users into taking various actions, such as installing software, purchasing a subscription, or providing personal information.
Upon further investigation, this major drop seems to be associated with a change in the behavior of the Edge browser with two notable improvements over older versions.
First, when users visit websites known to deliver deceptive push notifications, Edge blocks authorization prompts that could trick users into opting-in to receive popups:
Second, when unwanted popups do occur, it is now easier than ever to disable them, on a per-site basis. Users can simply click the three dots (…) on the right of the notification and choose to “Turn off all notifications for” the domain responsible for the popup.
This is a great improvement over the previous experience of having to manually navigate browser settings to achieve the desired result.
Earlier this year, 9TO5Google reported a Chrome code change may be indicative of a similar crack down by Google on nefarious popups.
One can hope Google will follow Microsoft’s example to improve browser security and usability.
The post Microsoft’s Edge over Popups (and Google Chrome) appeared first on McAfee Blog.
Managed services are an essential and fast-growing part of the security market, growing 14% annually. This opportunity presents new challenges MSPs must juggle day to day, including onboarding vendors and driving customer acquisition, all while making sure to provide robust IT solutions for your diverse set of clients. Clients are demanding more security and capabilities for a hybrid workforce, which provides a great opportunity for MSPs like you to grow your business.
We love our MSP community and want to help you deliver great security solutions to your clients. After speaking with many of you to understand how Cisco can help unlock growth for your businesses today, we developed a simplified buying model that delivers faster time to value. Cisco Secure MSP was born.
Secure MSP center was launched in the US market in November 2021 and MSPs across America have been rapidly transacting their business on MSP Center. We are excited to announce we are expanding this direct buying experience to Canadian MSPs in local Canadian Dollars for faster time to value and better ROI for your business.
It is a lightning fast and direct buying experience of SaaS security- No invoicing. Straightforward market pricing. And easy click-to-accept agreements. Cisco Umbrella’s market-leading DNS security is currently available with more SaaS security products coming soon.
It’s a simple three-step process that takes just minutes, from signup to deployment.
Step 1 – You can sign up here and login with your Cisco ID (or create one)
Step 2 – Provide billing and credit card information and sign a click-to-accept agreement
Step 3 – Get access to our world class Cisco Umbrella DNS security offer
From here, you can onboard your clients and start providing the first line of defense through Umbrella DNS Security product instantly. Sign up to deployment takes minutes – not hours or days.
From here, you can onboard your clients and start providing the first line of defense through Umbrella DNS Security product instantly. Sign up to deployment takes minutes – not hours or days.
There are no minimums or upfront fees. Your credit card will be charged on the first of the month and you’ll receive a detailed invoice. This is a simple, no hassle, and post-paid consumption-based model.
Other perks include a dedicated partner account manager alongside our sales engineer, who will help you not only with product deployments but also work with you to grow your business. We also have an MSP specialist team to answer your questions.
Partners currently using Secure MSP Center have had great things to say –
“Wow, this was a much easier process than I thought it would be”
“I’m glad Cisco created a program and process that was this simple”
“I thought this would be more complicated”
“That’s all there is to it?”
So, what are you waiting for? Come and take the first step in simplifying security offers for your clients. Sign up here: cisco.com/go/securemsp.
We’d love to hear what you think. Ask a Question, Comment Below, and Stay Connected with Cisco Secure on social!
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