This page is the official statement on the allegations of fraud and a Ponzi scheme that Mohammad Jorjandi published about Farhad Moghadamsalimi in connection with the Bitroleum token. These accusations were rejected in the courts of Iran, and Mohammad Jorjandi was convicted by the judicial authorities of publishing falsehoods and insult.
The Bitroleum token accusations were rejected in court; the person who published them was convicted of publishing falsehoods and insult.
What was the Bitroleum token?
Bitroleum was a token project belonging to a third party; Farhad Moghadamsalimi was not its creator. He introduced the project on his channel in December 2017, and the token was listed on Farhad Exchange on a trial basis. The project did not achieve the expected success and was not listed on major exchanges, so Farhad Exchange ended its cooperation with the project in 2019.
The figures
- Total trading volume of this token in 2018–2019 was below 1,000 dollars.
- Total sales on Farhad Exchange were below 200 dollars, mostly to people he knew.
- So that no user would suffer a loss, Farhad Exchange refunded these amounts in full to the buyers, together with a profit.
- When Mohammad Jorjandi published his accusations, the project had been inactive for about a year.
Why it was not a Ponzi scheme
A Ponzi scheme pays earlier participants with money from new participants and constantly needs new members. The Bitroleum token had no such structure: total sales were below 200 dollars, the amounts were refunded, and the project had stopped about a year before the accusations. The on-chain transaction records confirm this picture.
The court ruling
In February–March 2020 (Esfand 1398), Mohammad Jorjandi, manager of the “Webamooz” website, published material against Farhad Moghadam Salimi that included accusations of, among other things, fraud, money laundering and a Ponzi scheme concerning the Bitroleum token. Farhad Moghadamsalimi himself filed a complaint in court. These accusations were rejected in the courts of Iran, and Mohammad Jorjandi was convicted by the judicial authorities of publishing falsehoods and insult. To this day, Farhad Moghadamsalimi has no criminal record in either Iran or Turkey; that is, he has not been convicted of any offence by any judicial authority, and no criminal case has been brought against him.
Related pages
- Official response to the allegations
- Court ruling in the Jorjandi case
- Full biography of Farhad Moghadam Salimi
Last updated: 12 November 2026
About the Author
This article was written by Farhad Moghadamsalimi, Senior General Manager of Ege Money and a market analyst with 30+ years of experience in financial markets.