Eaconomy collapses amid scammer infighting
Eaconomy has collapsed, amid allegations of fiduciary duty violations against owners Candace Ross and Hassan Mahmoud.
At the time of publication Eaconomy’s website is still up. The company’s official Facebook page hasn’t been updated since March 5th.
On or around March 7th Eaconomy sent out a notice to its affiliates, advising them of the company’s collapse.
As per the announcement signed off on by Ross and Mahmoud (right);
On February 18, 2020, five gentlemen, including VPO Sal Leto and CTO Bill Wynne, tendered their resignation to Eaconomy with a laundry list of grievances against us stating that we violated our fiduciary duties to the company.
Ross and Mahmoud state they “fervently deny” the allegations. They claim Leto, Wynee and the three unnamed executives ‘stole company assets and sabotaged the very existence of Eaconomy‘.
Ross and Mahmoud claim they have been locked out of Eaconomy’s backoffice, rendering it impossible to run the company.
This has prevented us from being able to generate commission reports, integrate new merchants, run and investigate proper diagnostics of issues involving customers, pay commissions, and implement the termination of the trial of the beta program Traide Ringer software.
According to Ross and Mahmoud, Leto and Wynee were slagging them off at Eaconomy events. They purportedly prevented Eaconomy affiliates from reporting this by having them sign NDAs.
If I may, you’re at an Eaconomy event. Corporate executives are up on stage complaining about Ross and Mahmoud – and you can’t report this to Eaconomy because… Eaconomy executives had you sign an NDA.
Clear as mud?
While all of this was going on, Leto and Wynee
were building another company where they plan to take all of the affiliates and customers from Eaconomy.
It was a concerted effort by these individuals to steal the assets of Eaconomy.
All this was done while being employed and working in leadership positions with Eaconomy.
Over the past two weeks, several people in Eaconomy’s leadership, including Tyler Mackechnie, Donta Lewis, Chris Nickel, Darik Alexander, Cameron Kerkar, Casey Holladay, Kanoa Nartatez and Sarah Waldrop have been doing webinars and having people sign NDAs, and spreading gossip, lies and untruths.
These people have been suspended by the company and are directly related to the loss of everyone’s income.
According to Ross and Mahmoud, here are some of the “pervasive lies” being spread about them:
- that Candace Ross was blacklisted by merchant providers;
- Bill Wynee was not paid;
- Eaconomy’s software provider was not paid; and
- Eaconomy lost an appeal deal or refused to sign a contract.
Eaconomy doesn’t deny Ross’s blacklisting, but states only that she ‘is not listed on any merchant account for Eaconomy‘.
Bill Wynne was supposedly paid up until his termination. Ditto the unnamed software provider.
As for the app;
Sal Leto and his team stole the app from Eaconomy (along with the development costs invested in the app) and took it to his new company.
Despite claiming to be unable to run the company, Eaconomy states customers will retain access to paid services ‘for the remainder of your monthly cycle‘.
And there you have it.
Eaconomy launched in mid 2019, off the back of the collapsed SilverStarLive securities fraud scheme.
Eaconomy was basically more the of the same, only they changed the name of the forex trading bots.
Considering SilverStarLive ended with a CFTC fraud lawsuit, and Sal Leto (right), Bill Wynne and the gang are serial Ponzi scammers (OneCoin and iPro Network), is anyone actually surprised Eaconomy collapsed?
Let’s face it, if Eaconomy’s trading bots worked why would anyone involved kill the golden goose?
They wouldn’t, and I’m sure Leto’s next scheme will be equally as shady as past endeavors.
Meanwhile pending further regulatory action, Candace Ross and Hassan Mahmoud slink off with whatever they’ve managed to stash away.