James Hardy’s lawyer reveals SEC Nasgo investigation
According to co-founder James Hardy’s lawyer, Nasgo is under investigation by the SEC.
A BehindMLM reader going by Collin has shared correspondence with Blair Kreuger, a Managing Partner of Krueger LLP.
Kruger purportedly reached out to Collin regarding claims made against James Hardy, in relation to ShareNode investor losses.
Wrote Kreuger to Collin on September 14th, 2019;
In your email, you state that you have ‘claims against [our client, Mr. Hardy].’ … As you know, when people invest they assume the risk that the investment will depreciate, or even fail.
Collin responded by bringing up securities law and the FTC Act;
Thank you for clarifying that “stakeholders” were “investing” in ShareNode. As you may be aware the securities being sold in ShareNode were never registered.
Further, the “affiliate program” sold people something of no value (SNP, or NSG that was not allowed to be withdrawn), which violates FTC regulations.
This prompted “threats and libelous statements”, and also the revelation that Nasgo was under investigation.
…. Perhaps you may be ignorant …: NASGO is under investigation by the SEC (and perhaps others). Mr. Hardy has cooperated in that investigation thus far completely.
To the best of my knowledge neither Nasgo, Eric Tippets or Steve Chiang have revealed the SEC investigation to their affiliate investors or the public.
As the investigation is ongoing, we don’t have any specific details at this stage.
BehindMLM warned of Nasgo’s securities fraud through ShareNode back in January 2019.
The company doubled down on its fraudulent offering by partnering with Ryze on or around August.
Update 29th April 2022 – The SEC has sued James Hardy, Eric Tippetts, Steve Chiang and Maurice “Butch” Chelliah for fraud.
Eric Tippets of NASGO/ Share Nodes was spotted tonight (100% positively identified), with a woman (wife, I assume?) and an older gentlemen, having cocktails and dinner at a popular Italian restaurant, which he has been known to frequent in the past.
The restaurant is situated in the beach-side town of Dana Point (a city located in South Orange County, Southern California, USA).
He left tonight, after an hour-or-more, around 9pm driving a nice, new, white Range Rover. He looked “good” and healthy, and carried himself about casually, for what it’s worth.
Not sure if Authorities, victims, or anyone else is interested, but FYI: this is the most valid and up-to-date information known about his whereabouts.
I would love to meet with Mr Hardy or Mr Tippets to find out where my cash money went and what happened to all the promises of compound growth and guaranteed returns?
I was lied to and I have no doubt it was done deliberately …Beyond shady. If there is a lawsuit going on against the company or the main players Id love to join…
Are there any current updates regarding Sharenode? I lost $11,000.
Nothing regarding an SEC investigation.
My GOD 11K? that’s terrible. although you’re on the low side of people the blonde satanic Zack Morris from saved by the bell has scammed.
I’m surprised from Steve’s comment he hasn’t fled the country with this family already to the millions of investor money he probably has in offshore Singapore bank accounts…
I have lost $9,000.00 to James Hardy and the Eric Tippets & Steve Chiang Sharenode – NASGA (bitcoin/blockchain) rip off.
I want my name as a victim on any class action or government lawsuit. Stealing is a crime. Thank you for any updates.
I am embarrassed to say how much money I lost with James Hardy and his partner in crime Gary Opp.
Has anyone heard of Mr. Opp? James Hardy and this Opp character bilked and swindled me out of six figures with this company eVantage. Hardy was CEO of that and Gary the VP.
They tried to get me into sharenode and Nasgo but I refused because they’ve already drained me of so much $ already.
I lost most of my inheritance due to Mr. Opp and part of it with his co-conspirator James Hardy.
I want to be involved in a class action lawsuit as well. I’ve already been suing Mr. Hardy and Mr. Opp but I want to be in a class action suit as well!!!
They are very, very, evil men, trust me I know!!! Mr. Hardy is completely complicit along with his henchmen Gary Opp in getting me (& others) into other investments as well where I lost money.
I had to sell my home in a pandemic in 2020 and downsize to a different home because of their evil schemes.
I invested my last savings to the point I’m completely broke. I was lied to. I’m now almost homeless. I’m totally drained financially by these evil people.
See this offshorealert.com/tag/steven-chiang/ something’s happened.
Oh wow, looks like they finally got them.
I’ve got the case docket up. Give me a few (hours, till I get back to office).
Thanks for the heads up on this one. 2.5 years, that was a long ass investigation.
edit: just had a peek, they’ve nailed them for securities fraud and trading manipulation (which obvious examples are on the rise in MLM Ponzi token schemes).
Problem is there was something like 6,000 known tokens during the 2017-2018 era, of which 60% were fraudulent (Outright), 20% failed to get enough traction, and the remaining 20% some of which did well, others were just failed projects etc
That doesn’t include the other 10,000 fly by the night ponzi schemes that were occurring, or HYIP’s during the period.
May as well recognise that until they give clarity the SEC is pretty much wasting its time, and that’s before you factor in the 20,000-100,000 projects/tokens that have been created since.
I’ve said it before and I’ll say it again:
Make crypto illegal and 95%+ of MLM securities fraud goes away overnight.
Crypto in general is just an excuse to commit already illegal acts through tokens/coins instead of shares/fiat. That’s all it is.
If you’re not going to make it illegal, governments need to set up dedicated mirror financial regulators like the CryptoSEC and CryptoCFTC – and mandatory parallel criminal proceedings are a must because money laundering is always a factor.
I don’t believe crypto is as bad as you make out above (there’s some solid technologies emerging), but yes, all the binary options, MLM’s, Ponzi scammers etc have moved in, in force and that’s creating a bad reputation, because they believe it’s easy winnings and run.
FYI on the case it turns out they raised something like 10m, spent 100+ bitcoin listing on an exchange and paying money makers to trade, and have settled with the SEC for about 75k, which doesn’t include disgorgement or pre-judged interest etc, but no indictment visible.
I’ll raise you two Rujas, a Konstantin and a gazillion DagCoin.
Working on the complaint now.