Author

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This site is written and maintained by Peter Pichler, MBA, who became directly involved with Mr. András Tóthfalussy after being introduced to him by his brother in March 2022. 

At the time, Mr. Tóthfalussy was seeking investors for his electronics business Secondlife Electronics Trading LLC, and with great regret I helped Tothfalussy to raise capital. Only later did I learn that he had already defaulted on a USD 300,000 loan in Hong Kong — a fact he never disclosed.

A consistent pattern has since emerged. Mr. Tóthfalussy has stopped payments to previous lenders while seeking new financing, both in 2022 and again in 2025, without revealing those prior issues. He also admitted that the monthly reports sent to investors were inaccurate, stating:

“SL reports were completely wrong. Certain approximations were made which were not right.”

Based on these documented events, I believe Mr. Tóthfalussy’s behaviour shows characteristics often associated with a Ponzi-type structure — namely, relying on new funds while earlier obligations remain unpaid. Whether this meets the legal definition of a Ponzi scheme is for the authorities to decide, but the pattern warrants transparency and scrutiny.

Disclaimer:
This site is intended solely to share verifiable facts and my personal analysis to inform potential investors, business partners and the public. I make no allegation of criminal liability; such determinations are the responsibility of the appropriate authorities. If any information here is inaccurate, I welcome documented corrections.