Yeah so turns out Ukraine has its own SEC equivalent; the National Commission on Securities and Stock Market. In what I believe is a first for BehindMLM, today we’re reporting on a securities fraud warning issued from Ukraine. According to the NSSMC, QubitTech was identified as a “dubious financial project” […]
Read Time : 8 Minutes
BitWings Review: BWN token securities fraud
Bitwings provides no information on its website about who runs the company. Bitwings markets itself as a division of Wings Mobile, a Spanish virtual mobile operator founded in 2007, focused on the development of innovative software, smartphones and laptops. Bitwings is mentioned on Wings Mobile’s website, however it’s not featured […]
Read Time : 3 Minutes
CubeBit securities fraud warning issued in the Philippines
CubeBit has received a securities fraud warning from the Philippines SEC. As per the SEC’s December 10th warning, CubeBit is ‘soliciting investments in the Philippines WITHOUT THE NECESSARY LICENSE AND/OR AUTHORITY from the Commission.’ The public is again warned of such possible “Ponzi Scheme” offering high-yielding investments online. This is […]
Read Time : 2 Minutes
Financial Education Services fined $1 million for pyramid fraud
Financial Education Services has been fined $1 million dollars by the US state of Georgia. FES has also been enjoined from ‘advertising, offering or selling credit repair services in Georgia’, effectively banning the MLM opportunity. An investigation by Atlanta Attorney General’s office found FES violated the Georgia Fair Business Practices […]
Read Time : 2 Minutes
QubitTech securities fraud warning issued in Spain
Spain’s Comisión Nacional del Mercado de Valores has issued a securities fraud warning against QubitTech. As per the CNMV’s January 11th warning, QuibiTech is not authorised to provide the investment services detailed in Article 140 of the Spanish Securities Markets Act, which include investment advice, nor to provide the auxiliary […]
Read Time : 2 Minutes
DagCoin securities fraud warning issued in Omar
The Central Bank of Omar has issued a securities fraud warning against DagCoin. As per the Central Bank’s October 6th warning; Cenral Bank of Oman is once again cautioning citizens and residents from the use, holding and trading of cryptocurrencies (such as Dagcoin), and the potential financial, operational, legal, customer […]
Read Time : 2 Minutes
DagCoin securities fraud warning issued in Oman
The Central Bank of Oman has issued a securities fraud warning against DagCoin. As per the Central Bank’s October 6th warning; Cenral Bank of Oman is once again cautioning citizens and residents from the use, holding and trading of cryptocurrencies (such as Dagcoin), and the potential financial, operational, legal, customer […]
Read Time : 10 Minutes
Brank Review: Ponzi credits securities fraud
Brank provides no information about who owns or runs the company on its website. On its various social media profiles, Brank represents that it is based out of Manchester in the UK. On Brank’s LinkedIn profile, Daniel Noormohamed is identified as the company’s founder. On his own LinkedIn profile, Noormohamed […]
Read Time : 4 Minutes
Darren Olayan issued Mintage Mining securities fraud C&D
The state of Michigan has issued Darren Olayan a securities fraud cease and desist pertaining to Mintage Mining. Michigan’s notice was issued on April 8th, however I only came across it today as part of my research into Olayan’s $595,000 Utah fine. As per Michigan’s cease and desist; The Administrator’s […]
Read Time : 1 Minutes
Darren Olayan fined $595,000 for Divvee securities fraud
The Utah Division of Securities has fined Divvee Social and Darren Olayan $595,000 as part of a securities fraud settlement. The Utah Div Sec litigation pertains to Divvee Social. This stems from Olayan’s original Divvee pyramid scheme, which was rebranded as Nui Social in November 2017. It’s assumed “Divvee Social” […]