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  • Writer's pictureSun Of Justice

The Intricate Web Between QBF and NOA Circle Scam: Unraveling the Truth

Updated: Oct 3, 2023


Recent developments in the civil case Burlaka Alina Evgenievna and others v NOA Circle Ltd and others, action No. 525/2022, have brought to light intriguing statements by Apollon Athanasiades. In his witness statements dated 3 January 2023 and 16 March 2023, Athanasiades attempts to distance NOA Circle from the QBF group. But is there more to the story than meets the eye?

The Claims:

Athanasiades, in his statements, has made various claims to distance himself and NOA Circle from QBF. These assertions, however, are being challenged by emerging evidence that suggests a deeper connection between the two entities.

The Counter-Evidence:

One of the most compelling pieces of counter-evidence comes from the public CV of Alex Kontos. Kontos, on his personal website, claims to have served as the Head of Design for Constance Investment, formerly known as QBF Investment. Furthermore, he mentions his role as an IT advisor to several finance firms, including NOA Circle, WhiteLake, Nobilé, Falco, and Aelius Circle. This suggests a close association between these firms, potentially even hinting at them operating as a single entity.

Connecting the Dots:

The evidence presented by Kontos' CV directly contradicts Athanasiades' claims. If Kontos worked closely with both QBF (Constance Investment) and NOA Circle, it raises questions about the true nature of their relationship. Were QBF and NOA Circle operating as separate entities, or were they more intertwined than Athanasiades would have us believe?

Furthermore, a deep dive into our previous blog post reveals a pattern of evidence that supports the theory of QBF and NOA Circle being one and the same.

An enlightening article from unveils the intricate details behind the QBF/Constance logo's creation. Linda and Alex's direct involvement in the branding process, coupled with their less-than-professional approach towards the logo's designer, offers a deeper glimpse into their roles within the company. This account starkly contrasts with Apollon Athanasiades' witness statement, suggesting Linda's role in Constance was more substantial than merely a nominee position.

As more layers of this story unfold, the pressing need for a comprehensive and transparent inquiry becomes even more evident.

The QBF, NOA Circle Scam :

Transparency and truth are paramount in the world of finance. The discrepancies between Athanasiades' statements and the evidence presented by Alex Kontos' CV, along with previous findings on QBF Exposed, suggest that there's more to the QBF and NOA Circle story than what's being publicly acknowledged. Stakeholders, investors, and the general public deserve clarity on this matter. It's time for the truth to emerge.


It's crucial to emphasize that all the information we present is based on records and evidence available in the public domain. Every piece of data, every claim, and every assertion has been meticulously verified and reviewed before being published to ensure the utmost accuracy and reliability.

Furthermore, we are on the cusp of a significant breakthrough. In the upcoming weeks, we anticipate being able to make public thousands of additional records and pieces of evidence. This vast trove of information is expected to be a game-changer, providing the necessary tools for prosecutors and judges to serve justice to all the victims. With this evidence in hand, we are hopeful that the long-awaited recovery and restitution process for all victims will finally be initiated, bringing closure and justice to those affected.



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