Eaconomy securities fraud warning from New Zealand
Eaconomy has received a securities fraud warning from New Zealand’s’ Financial Markets Authority (FMA).
As per the FMA’s October 2nd, 2024 Eaconomy warning;
Eaconomy promotes its AI-powered software and a “copy trading” platform (i.e. Manara, and Eminus) for binary options, crypto assets, and foreign currency trading.
Its website creates an overall misleading impression that its trading platform and software can make trading easier and safer, including in binary options, which is a highly complex and risky product.
We recommend caution when dealing with Eaconomy LLC/Eaconomy, or any individual or entity promoting its services or products.
We are concerned Eaconomy is not authorised to provide any financial services or products under the New Zealand law.
The FMA cites previous Eaconomy fraud warnings from Norway and Quebec, Canada.
Eaconomy is an AI trading bot MLM company run by US resident Hassan Mahmoud (right).
BehindMLM last reviewed Eaconomy in 2021, noting both securities and pyramid fraud concerns.
Eaconomy markets two monthly subscription memberships … the primary difference between the two options is the automated trading bot, renamed “Aithena”.
Aithena is available through Elite Pro only. Supposedly Elite Pro is not available in the US.
Outside the US Eaconomy is committing securities fraud in every jurisdiction Elite Pro subscriptions are being sold.
Today Eaconomy markets two memberships on its website; Eminus and Manara.
Eminus offers “trade ideas”. Manara is an AI grift, again offering trade ideas. No pricing is provided.
The CFTC previously fined Mahmoud $75,000 for commodities fraud in 2019.
SimilarWeb tracked ~159,000 monthly visits to Eaconomy’s website as of August 2024. Top sources of Eaconomy website traffic are currently Poland (29%), Colombia (16%), the UK (9%), Philippines (8%) and the US (6%).
So uh, realizing today was going to be busy diverted my attention from this being the 10,000th published article on BehindMLM.
That’s 10,000 articles I’ve researched, put together and published. Thanks for reading!
If you’re curious we’re also at 182,247 comments including this one. 37,536 of those are mine – the rest are from readers.
@Oz
Only 182,247 comments? My browser says #comment-485908.
https://behindmlm.com/companies/eaconomy/eaconomy-securities-fraud-warning-from-new-zealand/#comment-485908
How can this difference be explained?
Regardless, I admire your diligence and persistence in making life difficult for scammers worldwide. 😀
I’m guessing the discrepancy is the spam filters at work. WordPress stamps a comment with a number when it comes in, regardless of what ultimately happens to it.
Also as one of our most prolific commenters, thanks for contributing. I might put the articles together but the funnel that contributes to BehindMLM’s published content extends far beyond just me.
awesome work, Oz.
Surprised EaConomy is still around since we have been calling this out since 2019.
thanks for all you do to make the world a better place.
Congratulations on this milestone, and thanks for all that you do for all of us reading behindMLM. Everyone reading your posts receive valuable information, and for those who are willing they get a great education in investing, scams, Ponzi’s, pyramid schemes, cash gifting schemes; and all the other variations of ways to steal people’s money under the guise of helping the “little guy” get ahead.
You deserve all the accolades for a job well done and for excellence in reporting. Blessings, and here’s to 10,000 more.
10,000 world-informing articles on scams and scammers is a number to be extremely proud of, Oz! And, probably one of the only good numbers on your site, unless you have posted previous attained numbers of your articles.
It’s like a birthday; so, here’s to many more good years to you!
Congratulations, Oz.
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warning from slovak national bank, finally — nbs.sk/aktuality/upozornenie-nbs-na-subjekt-eaconomy/
Thanks for the heads up!
Many thanks for all the work you put in to make this the very best and reliable resource for those keeping an eye on the MLM world, both legit and scammy.
Have just recommended Behind MLM in replies to several comments below the YouTube video of BBC’s Missing Crypto Queen, where commenters seem completely unaware of how common and devious these ponzi schemes have become (fortunately not many are on a par with One Coin though!).
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