Igenius parent company Investview gets into hot water with SEC. Can this hurt business for this Passive Crypto MLM or not? Let’s find out.
I reviewed Igenius and did not recommend them mainly because they were not set up fully with the SEC.
Originally when Igenius first launched back in the beginning of 2021, they didn’t have any details registered with the SEC.
Finally after people started calling them out on potential investment fraud, they ‘partially’ registered with the SEC but failed to file important information about their ‘passive’ investment opportunities such as Endotech or the Crypto Elite Trading Bot that is responsible for all the network marketing recruitment up to now.
Can this hurt the success on the Network Marketing side of things?
Well let’s look at the facts:
1- Igenius offers a passive investment opportunity to its potential customers.
2- They offer passive variables through Endotech and Crypto Elite
3- Endotech isn’t registered either
4- No mention of Crypto Elite in SEC filings by Investview
and lastly…
The CEO of Investview (Joseph Cammarata) was arrested along with two other individuals in November 2021…
Federal prosecutors charged three men — two from New Jersey and one from New York — with filing sham victims’ claims totaling $40 million, pretending they were owed money from class-action securities lawsuits, the agencies said Thursday.
Joseph Cammarata, Erik Cohen, and David Punturieri were charged both by the U.S. Securities and Exchange Commission and the Department of Justice with running an unusual scam — pretending to represent claimants in securities lawsuits, and filing phony claims for money.
Officials called it a “brazen fraud, deceiving fund administrators to line their pockets with ill-gotten gains,” said Scott A. Thompson, associate regional director of the SEC’s Philadelphia office.
Recap:
- Investview didn’t disclose the passive income variables such as Endotech or Crypto Elite investment packages.
- Igenius by itself was never registered with the SEC
- The CEO of Investview is in hot water with BOTH the SEC and DOJ.
- The CEO of Investview is charged for ‘Committing multiple counts of Fraud in connection with Securities’ Fraud claims scheme.
And it gets worse…
The majority of Igenius Affiliates are leading their prospects into the Igenius scheme with the passive income variable.
So yes, this can surely impact ALL Network Marketing Revenue from here moving forward.
This has turned into a huge scandal.
Rory Singh is a Home Business Development Coach, Blogger and You Tube Publisher
I have seen many people, companies and systems come and go in my years online. I have 3 decades of experience in the MLM industry (since the 80’s) and have been online since 2006 (as an affiliate marketer).
I have been doing Reviews since 2013.
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