Bitles securities fraud cease and desist from Texas
Bitles has received an emergency securities fraud cease and desist from Texas in the US.
The Texas State Securities references Bitles Limited, Janis Lacis, C3 Data Services and Edward Carter.
The TSSB identifies Bitles as a UK incorporation. Said incorporation records cite Janis Lacis as Bitles’ Director, Chief Developer and CEO.
As per BehindMLM’s published Bitles review, the UK incorporation is likely bogus (think Control Finance).
As per the TSSB’s cease and desist, Bitles is engaged in securities fraud.
Bitles are recruiting sales agents for the purpose of selling the fraudulent cryptocurrency trading investments and these sales agents are promised opulent prizes and a generous monthly income.
However, Bitles are not disclosing the source of funds used to pay for the prizes and they are not disclosing their business plans and strategies for paying investors lucrative monthly profits of at least 30%.
Respondents are also concealing highly material information, such as the identity of their financial professionals and managers, developers, and technology experts.
C3 Data Services is part of Zeta Wize LLC, which appears to be owned by Texas resident Edward Carter.
The TSSB alleges Carter, through C3 Data Services’ website, was promoting Bitles to Texas residents through Craigslist.
The C3 Data Services Website promotes various investment opportunities, including “AI investment Bots” from Bitles.
It contains hyperlinks to the Bitles Website.
C3 Data Services’ website is still online at the the of publication, however references to Bitles appear to have been scrubbed.
Prior to getting into cryptocurrency fraud, Edward Carter was promoting nutritional supplements through Zeta Wize Nutrition.
Zeta Wize Nutrition appears to have been rebranded as Kalyx at some point.
Neither Bitles, Janis Lacis, C3 Data Services or Edward Carter are registered to offer securities in Texas.
Respondents are engaging in fraud in connection with the offer for sale of securities.
Texas has ordered Bitles, Lacis, C3 Data Servies and Carter have been ordered to “immediately cease and desist”
- selling securities
- offering securities
- acting as a securities dealer and
- engaging in fraud
As stated earlier, BehindMLM reviewed Bitles in April 2020. Based on its business model we concluded Bitles was a Ponzi points scheme.
As with all MLM related UK incorporation data, we believe Bitles UK incorporation is bogus.
Since publication of our review, Bitles has hired this actor to play Janis Lacis:
The actor playing Lacis has a distinctive eastern European accent.
Bitles’ Twitter account is purportedly managed from Estonia. Putting all of this together, Bitles is likely the work of Estonian, Ukranian and/or Russian scammers.
At the time BehindMLM reviewed Bitles, the scam was soliciting investment from Japan, India and Vietnam.
Bitles appears to have collapsed in those markets. According to Alexa web traffic analysis, today Bitles’ top sources of new investment are the US (46%), Malaysia (20%) and Jersey (20%).
According to reader comments on our Bitles review, the scam stop paying out around January 2021.
Edward Carter was scammed like everyone else dealing with Bitles and had No Direct connection with the Bitles other than having a few links to the bitles website.
The SEC did not inquire nor ask directly any questions as have an entire page on Telegram WARNING OTHERS after a few weeks on the Bitles platform.
In fact, Multiple warning postings were given, published including Trust Pilot. Was probably the last person scammed on the platform and links on proof of concept website about crypto were left up along with other crypto industry information/opportunities.
Was Surprised to be named on SEC as had reached out to European authorities myself to report possible fraud activities for Bitles.
The Craigslist link was promoting Crypto Technologies and POC website C3Data which had MULTIPLE LINKS to Crypto information as a test site.
There were No inquires except one which in retrospect was probably the SEC agent who was told to STAY AWAY from Bitles. How my name got involved just seems to be POOR investigation.
The mere act of promoting unregistered securities is illegal. Something Ponzi scammers like Edward Carter often overlook.
Note to Ed Carter: YOU do your DUE DILIGENCE before you join and promote any program; not after.
Had you done any REAL DUE DILIGENCE you wouldn’t find yourself in this situation and position of the SEC filing.
When you lie down with dogs don’t act surprised when you get fleas.
Look at the bright side, now you will be able to prove your non-involvement and innocence you proclaim in court where it counts.
Well you need to first understand what PROMOTE Means. A single link back to a proof of concept website is really a stretch as this was on Craigslist for approximately 15 days and was not directly promoting Bitles.
There are several VIDs about cryptos on POC website, Bitles was just one.
Actually I did perform due diligence and started warning about Bitles after a few weeks of no responses from Bitles.
In fact probably 5 weeks total on exploring Bitles and 5 Months of ANTI-Bitles telling others to Stay Away before SEC announced me as BIG Bitles Promoter which is False.
P.S. Cryptos are not considered securities (Ozedit: snip, see below)
Mate you got done committing securities fraud. Take the L and move on.
Nobody said they were. Bitles’ passive investment opportunity was an unregistered securities offering.
Unfortunately it appears you learnt stuff all from getting caught. What a shame.
Cut the crap. If you had done real due diligence you wouldn’t have been associated with this in the first place.
What Court? Court of public opinion? There were no charges but Accusations Given.
No investigative inquiry, no funds taken, no complaints against me other than unfounded accusations from SEC about Proof of Concept Web content with some links on crypto opportunities based upon digital society.
Just happened to have included a few from Bitles as example concepts but those concepts are sound and are being vigorously deployed by growing DeFIN business areas all around the world.
(Ozedit: derails removed)
Right on the Cut the Crap “If You had Done Due Diligence…Wouldn’t have been associated…in first place”.
EXACTLY my feelings about SEC publishing such rubbish about me! Any level of investigation would have shown No Connection with Bitles!
For starters the SEC didn’t issue the emergency cease and desist, the TSSB did.
Following an investigation, the TSSB found you were
You did so by promoting Bitles on Craigslist, targeting Texas residents. You also ran a website promoting Bitles.
You had 31 days to challenge the Texas cease and desist and didn’t. Trying to rewrite history here nine months later isn’t convincing anyone.
Finally if you wish to discuss cryptocurrency in general and throw out buzzwords, do it somewhere else.
There’s nothing to Challenge. (Ozdit: snip, see below)
Cool. Thank you for accepting the TSSB’s cease and desist as fact then.
Take your securities fraud L and move on.
ed c coming here trying to defend himself is a hoot. He needs to be defending himself against the TSSB showing them how wrong they are.
Oh wait, he had 30 days to do that and bailed.
It is going to be fun watching him defend himself against their actions. But then he can always point to his posting here proving his innocence.
I can hear it now: But your honor I did nothing wrong and I proved it by posting at behindMLM.com.
The Prosecutor: Why didn’t you respond to us with your defense in the 30 days you were given to respond?
Ed: You were wrong and there was no need to but I set the record straight by posting at behindMLM.
Great defense Ed, great defense.
What? Think U Guys are more Mis Led than SEC on my involvement with Bitles. There isn’t any fraud from any rational standpoint.
You Are the ones Accusing (Ozedit: snip, see below)
Securities fraud is in fact, *checks notes*, fraud.
Edward Carter’s securities fraud emergency cease and desist was issued by the Texas State Securities Board.
If you want to rewrite history, take it up with them.
One must realize that the Public Declaration was based upon Accusations only and do not necessarily reflect all the facts in the case. (Ozedit: Snip, see below)
As has already been pointed out to you, you had thirty days to respond to the TSSB’s notice when it was issued.
Trying to rewrite history nine months later isn’t going to get you anywhere.
We’re going around in circles. You promoted a Ponzi scheme and committed securities fraud in the process.
You got caught. Take your securities fraud L and move on. Last time I’m saying this.
I Did respond, cleaned up POC website and haven’t heard a word since but noted chatter of recent date so thought I’d better tell the rest of story.
Assumption of being guilty w/o any evidence in the Public Domain nor given opportunity to defend against such accusations appears to be necessary.
Believe anyone who performs true Due Diligence will find the truth of this matter if that’s what is sought.
It’s not an assumption when the TSSB provides evidence of securities fraud and you fail to overturn the notice.
Complying with a securities fraud cease and desist != aCcUsAtIoNs WiThOuT eViDeNcE!
Over turn Notice? SEC doesn’t retract notices. (Ozedit: snip, see below)
If you actually read the notice, you’d see towards the end you had thirty days to respond and challenge the notice.
You didn’t, because you got caught with evidence.
And again, the SEC didn’t issue you with anything. This was the TSSB.