Eaconomy securities fraud warning from QC, Canada
Eaconomy has received a securities fraud warning from Quebec’s Autorite des Marches Financiers.
The AMF added Eaconomy to its investor warning list on March 24th, 2023.
Eaconomy Limited is not registered with the Autorité des marchés financiers (AMF) and is not authorized to solicit investors in Québec.
BehindMLM first reviewed Eaconomy in May 2019. Eaconomy’s original iteration collapsed in less than a year.
The brand lay dormant until is was resurrected by owner Hassan Mahmoud (right) in April 2021.
Eaconomy’s reboot saw the MLM company launched through Beyond Wealth.
In a nutshell you had various trading and cryptocurrency offerings. Inside the US Eaconomy only offered signals.
Outside the US the company committed securities fraud through Beyond Wealth’s “Achilles” automated trading bot.
BehindMLM last reviewed Eaconomy in November 2021.
In that review we strongly suspected Eaconomy was operating as a pyramid scheme. We also identified securities fraud.
Eaconomy is a US-based MLM company run by Las Vegas resident Hassan Mahmoud (right).
Neither Eaconomy or Mahmoud are registered to offer securities in any jurisdiction.
In 2019 Mahmoud settled commodities fraud charges with the CFTC for $75,000. The charges pertained to Eaconomy’s predecessor, Silver Star Live.
Both Silver Star Live and Eaconomy share similar forex trading themed business models.
Eaconomy warning from Slovakia at investigative daily: aktuality.sk/clanok/wCr9Lzp/slovenskom-sa-siri-nova-rizikova-financna-schema-propaguje-ju-znama-influencerka-ekonomicky-vyber/
Full article in slovak:
(Ozedit: non-English removed)
Thanks for that. Will look into it tomorrow. Nuked non-English because English only.
edit: Hol’up, the article covers local promotion. Nothing regulatory from Slovakian authorities (that’d be a first!).
Slovak authorities sleep but journalist not.
warning from Slovakia: spectator.sme.sk/c/23321292/warning-as-slovak-influencers-push-trading-platform.html
Not quite a warning unfortunately.
NBS seems to be a bit of a crappy regulator. I went looking for their warning and turns out they haven’t issued any actual public warnings since April 2022.
Hassan Mahmoud with Eaconomy is a scam artist. All a person needs to do is Google him or the company.
I noticed recently they changed their domain name, probably to get away from the negative press. I had friends in Eaconomy that were sorry they had gotten involved.
I warned them but they had to learn for themselves. Hassan has bought many people to lure people into eaconomy and they have cycled through a number of products.