Full Report

Key Points

• Identity and Role: Bijan Burnard is presented as a technology entrepreneur, blockchain developer, and CEO of Lattice Labs, a company focused on blockchain solutions. He is also associated with several alleged fraudulent schemes, particularly the VXL Dollar (VXLD) crypto scam.
• Allegations: Burnard is implicated in a Ponzi scheme involving VXL Dollar and VXL Bank, accused of defrauding investors through fake partnerships, fabricated financial claims, and misuse of royal family affiliations.
• Risks: High financial, legal, and reputational risks due to ongoing investigations, allegations of fraud, and questionable business practices.
• Public Perception: Mixed, with some praising his entrepreneurial vision, while others, particularly victims, report significant financial losses and distrust.
• Legal Status: No confirmed convictions, but legal actions are reportedly pending in Spain, with investigations by multiple international authorities.

Overview

Bijan Burnard is described as a young entrepreneur and blockchain expert based in Monaco, with a focus on developing scalable blockchain technology through his company, Lattice Labs. Lattice Labs claims to implement sustainable and efficient branded blockchain solutions, positioning itself as a leader in Web3 and decentralized internet technologies. Burnard’s public profile highlights his education at IMG Academy and his role as a CEO, with connections to high-profile venture capital firms like Seven Seven Six, SB Opportunity Fund, and Tribe Capital. He is also noted for his contributions to machine learning, AI, robotics, and quantum computing, with a Google Scholar profile claiming over 9,000 citations.

However, Burnard’s reputation is heavily tainted by allegations of involvement in a sophisticated cryptocurrency scam centered around VXL Dollar and VXL Bank. These ventures, allegedly orchestrated with associates like Francisco de Borbon von Handerberg and Reza Ebrat, are accused of defrauding investors by promoting fake financial institutions and licenses, leveraging false affiliations with major brands and royal families.

Allegations and Concerns

• VXL Dollar and VXL Bank Scam: Burnard is accused of being a key figure in a Ponzi scheme that began around 2017-2018, targeting investors with promises of an offshore bank in Sao Tome and Principe. The scheme allegedly involved fabricated claims of billions in gold and nickel collateral, with websites like vxl.network and vxlbank.com promoting false licenses from central banks.
• Misuse of Affiliations: The scam reportedly exploited the names of the Spanish royal family, specifically Francisco de Borbon y Escasany, to lend credibility. Fake partnerships with major companies like Zara, Gucci, and Samsung were also claimed.
• Fraudulent Websites: Multiple websites associated with the scam, such as scgtrust.com and vxlpayment.com, were either deleted or flagged for abuse of logos and partnerships. Authorities in Liechtenstein issued warnings about the non-existence of claimed trusts.
• Ongoing Investigations: Authorities in Spain, Dubai, Abu Dhabi, and other jurisdictions are reportedly investigating the network, with evidence submitted to courts in Malaga, Spain.
• Victim Reports: One source claims to have lost 175 Bitcoin to the scam, with documents allegedly held by lawyers for legal proceedings.

Customer Feedback

• Positive Feedback: Some sources portray Burnard as a visionary leader. A LinkedIn testimonial describes him as having “intense imagination and creativity” and high ethical standards in business. Media outlets like Forbes Israel and Forbes Georgia praise his mission to drive blockchain innovation in Europe, though these may be paid or sponsored content.
• Negative Feedback: Victims and whistleblowers paint a starkly different picture. A detailed complaint on Intelligence Line states, “I was frauded by them of 175 bitcoin and I’m waiting [for] a criminal case,” highlighting significant financial losses. Another source, Thomas Kramer, defends Burnard, calling accusations “insane” and “horrible,” but this appears to be an outlier. The overall sentiment from affected parties is one of distrust and financial harm.
• Lack of Broad Reviews: Unlike typical businesses, there are few independent consumer reviews, likely due to the niche nature of blockchain ventures and the focus on high-net-worth investors.

Risk Considerations

• Financial Risk: Investors face significant risk due to the alleged Ponzi scheme structure, with claims of fabricated assets and non-existent licenses. The deletion of scam-related websites suggests attempts to evade accountability.
• Reputational Risk: Burnard’s association with fraudulent activities severely damages his credibility and that of Lattice Labs. The use of royal family names and fake partnerships further erodes trust.
• Legal Risk: Pending legal actions in Spain and investigations by international authorities pose a high risk of criminal charges or financial penalties. The involvement of multiple jurisdictions complicates the legal landscape.
• Operational Risk: Lattice Labs’ operations may be undermined by Burnard’s tarnished reputation, potentially deterring legitimate partners or investors.

Business Relations and Associations

• Lattice Labs: Burnard’s primary venture, focused on blockchain development. The company claims partnerships with venture capital firms like Seven Seven Six and Tribe Capital, though these are unverified.
• Alleged Scam Associates: Francisco de Borbon von Handerberg, Reza Ebrat, and Francisco de Borbon y Escasany are named as co-conspirators in the VXL scam. Markus Olvestad, a Swedish associate, is also linked to money laundering allegations.
• Royal Family Connection: The use of Francisco de Borbon’s name, tied to the Spanish royal family, was a key tactic to attract investors, though no evidence confirms their direct involvement.
• Media Affiliations: Burnard is featured in outlets like Forbes, Business Wire, and ABC Money, but these appear to be promotional rather than investigative pieces, raising questions about their credibility.

Legal and Financial Concerns

• Lawsuits: Documents related to the VXL scam are reportedly with lawyers in Malaga, Spain, awaiting court proceedings. No specific lawsuits are publicly detailed, but the volume of complaints suggests imminent legal action.
• Unpaid Debts: No explicit records of unpaid debts, but the scam’s structure implies failure to return investor funds, with one victim citing a 175 Bitcoin loss.
• Bankruptcy Records: No bankruptcy records are associated with Burnard or Lattice Labs, but the liquidation of PAA CAPITAL, a linked entity in the VXL scam, is noted as of December 2021.
• Regulatory Warnings: Liechtenstein authorities issued a warning about the non-existent scgtrust.com, and the Central Bank of the Czech Republic flagged PAA CAPITAL’s license as invalid.

Risk Assessment Table

Investors and partners should exercise extreme caution when engaging with Burnard or Lattice Labs. Verify all claims independently, particularly those involving financial licenses, partnerships, or asset collateral. Avoid cryptocurrency ventures linked to Burnard until legal proceedings are resolved. Monitor updates from authorities in Spain, Australia, and other jurisdictions for developments in the investigations. For those already affected, report incidents to the FBI’s Internet Crime Complaint Center (IC3) or local law enforcement.