As I was doing my research for our article yesterday on Nui’s arguably pointless CompChain, I came across a corporate blog post that piqued my interest. Titled “ATTN: Important Clarifications for Nui Members”, here’s...
Another day, another excuse to ram crypto buzzwords down the throats of the MLM community. Why Compchain? Compchain is changing the scope of networking as we know it. Built on immutable blockchain technology, Compchain...
Following Nui’s fine for securities fraud violations in Texas it should be clear that, in order to operate legally in the US, Nui needs to register its securities offering. Instead of doing that though,...
It’s pretty established now that MLM cryptocurrency cloud mining opportunities are a security. Which makes Nui’s new kala mining offering all the more unbelievable. Nui launched their new kala mining opportunity via a November...
Nui has its origins in Divvee, a failed “access to discounts” MLM opportunity that launched in mid 2016.When Divvee’s original model failed, the company rebooted as a mobile app promotion platform.
That also failed, prompting Divvee’s descent into unregistered securities.
In late 2017 Divvee merged with Hodo Global. The merger created Nui, which focused on cryptocurrency related unregistered securities.
On July 11th the Texas Securities Board issued Nui and associated companies with a securities fraud cease and desist.
Nui has vowed to challenge the notice, however at the time of publication that’s still playing out.
In the meantime Nui has “restructured” and is heavily pushing pseudo-compliance.
Seemingly in response to Texas’ cease and desist, Nui has announced it is restructuring its affiliate offering.We haven’t heard much from CEO Darren Olayan after he claimed securities regulation didn’t exist a few weeks ago.
Thus is was left to “Keystone Leaders” Jim Paré and Casey Combden to front affiliates.
First topic of business on the webinar was the Texas securities fraud cease and desist.
Combden claimed Nui corporate “knew this was going to happen”, implying to affiliates that there is nothing to worry about.
BehindMLM sounded the Nui unregistered securities alarm bell as far back as November 2017.
If Nui corporate knew then they were…
Nui CEO Darren Olayan has taken to Facebook to claim the securities regulations behind a recently served cease and desist don’t exist.Texas issued Olayan, Nui, Mintage Mining and Symatri with a securities fraud cease and desist on July 11th.
At a corporate level Nui has vowed to “vigorously defend” Texas’ alleged securities fraud violations, although what that specifically entails remains unclear.
Olayan’s bizarre regulation claim meanwhile was made in a Facebook video published a few hours ago.
Filming while walking down a suburban street, Olayan claims he’s “amped out of his mind” after “taking serious phone calls” all day.
Despite speaking in the video for…
Although we’d caught wind of it a day before, yesterday Nui published it’s official response to the Texas cease and desist.Following months of assurances that Nui, Mintage Mining, Symatri and the Kala altcoin had been signed off on by “top law firms in the US”, Texas issued the company with a securities fraud cease earlier this week on Wednesday.
In light of the notice, Nui has advised affiliates it has “cease(d) offering” its products ‘in the state of Texas for the time being‘.
Despite Texas securities law being materially indifferent from federal securities law, Nui and owner Darren Olayan are continuing to offer unregistered…
Despite reassurances by Nui that their Kala altcoin and Mintage Mining have “stability and protection with the SEC“, a US securities regulator has issued the company with a cease and desist.The Texas Securities Board issued an emergency cease and desist notice to Nui on July 11th.
Named as respondents in the notice are Symatri LLC, Mintage Mining, BC Holdings and Investments LLC, Social Membership Network Holding LLC, Nui Social, Darren Olayan (right), William Douglas Whetsell and Wyatt McCullough (Nui affiliates).
As per the notice, the Securities Board alleges
(Darren) Olayan controls Mintage Mining.
Mintage Mining is illegally and fraudulently issuing and offering two different investments in cryptocurrency…