Kuvera Global’s individual mining lie exposed, same old cloud mining
At the heart of Kuvera Global’s “we don’t need to register with the SEC” pseudo-compliance, is the claim that their mining services are provided on an individual basis.
A Kuvera Global affiliate invests in a graphics card, Kuvera Global set that up and then run it to generate a ROI.
We offer Crypto Mining Packages that consist of computer/GPU hardware, operation and maintenance services to provide individuals access to crypto mining.
Our mining hardware (hosting) facility is arranged through contractual partnership and located in Romania.
Each GPU processing card is specific to the package purchased, is individually serial numbered, and the customer may request their hardware to be shipped to them at any time.
We believe our mining services which are physically housed, monitored and maintained in a dedicated facility eliminates variables associated with other mining services that are typically cloud based.
Investview, Kuvera Global’s parent company, argues this fundamental difference exempts them from having to register and disclose the specifics of their mining opportunity with the SEC.
Thanks to the ethereum blockchain, we can confirm that’s baloney.
Earlier today BehindMLM reader Laurie sought comment on a Kuvera Global marketing video, uploaded to YouTube on June 17th, 2018.
The video features Kenny Gardner and John Lavenia pitching Kuvera Global’s mining opportunity.
At [35:55] into the video, an Ethereum address for “KuveraPool” appears on-screen.
Thanks to the transparency of the blockchain, the KuveraPool account isn’t difficult to look up.
What we quickly learn is that the KuveraPool account has mined 948 ETH over the past 90 days or so.
Every week, a withdrawal sum is transferred to this unnamed account, from which Kuvera Global affiliates are paid a weekly ROI in ethereum.
Kuvera Global’s commission account currently hold 116.81 ETH as a I write this.
The mining account holds 225.66 ETH.
While the figures might be academically interesting, of far more importance is confirmation that Kuvera Global is generating ROI revenue through a single account.
This is crucial, because it satisfies the “common enterprise” prong of the Howey Test.
Under the Howey Test, a transaction is an investment contract if:
-It is an investment of money
-There is an expectation of profits from the investment
-The investment of money is in a common enterprise
-Any profit comes from the efforts of a promoter or third-party
When it comes to MLM investment fraud, the Howey Test is pretty much the blueprint for establishing a securities offering.
With respect to Kuvera Global;
- There is no question that affiliates are investing funds with Investview and Kuvera Global
- There is no question Kuvera Global affiliates are investing funds on the expectation of profit
- Kuvera Global is a common enterprise affiliates invest in, and KuveraPool is clearly a common enterprise used to pay investors
- While specifics are not disclosed, there’s no argument that Investview and Kuvera Global are providing a passive ROI to their affiliate investors
For anyone who wants to argue the point, cloud mining opportunities have already been established as securities in the US.
Although we contend Investview is offering a security even if their individual GPU mining claims were true, the KuveraPool address proves the company is engaged in securities fraud.
What with Investview being a publicly listed Utah company registered with the SEC, one can only wonder how long it’ll be before the regulator takes action.
Update 20th March 2019 – As at the time of this update the video featuring Kenny Gardner and John Lavenia pitching Kuvera Global has been removed from YouTube.
Is that serial scammer John Lavenia in the video? The former emcee of Digital Altitude? No further questions, Your Honor.
@Dewey, perfect fit.
Kuvera and 4%.
@Dewey LOL That is correct and you’re correct, CASE CLOSED!
The FTC is turning over a lot of rocks finding a lot of roaches right now. I would think every top affiliate of Digital Altitude / MOBE is starting to sweat a little bit right now.
Just be legitimate, and they’d have no problems!
Questionable returns to date considering they have been mining since last November. Ether scan records do not go back that far.
Every single respective size contract gets the same distribution further proves they are pooling funds.
I think this is a very legitimate concern. Here’s a video of a Dude with a Genesis Bitcion mining contract. He isn’t passing around his referral link so he’s not getting those bonuses. 39 weeks in he’s recouped a bit over 93% of his original investment and his returns are dwindling.
youtu.be/RYVFVpD_LLo
So it looks very much like the return margins are razor thin.
We don’t know for a fact that Westmyn owns their own hardware and facility, Travis Bott doesn’t seem to be that high a roller.
But we do know that both Westmyn and Kuvera are taking cuts off the from end of affiliate’s investments and there is a possible third party as well.
It would be very interesting to see the investors real ROI.
So you’re telling me Kuvera, formerly Wealth Generators, who boasted “leaders” Dan and Patti Hunt teamed with David Frost of USI Tech infamy (linkedin.com/in/pattikhunt), may have lied about a crypto mining contract (scheme??)?
Color me shocked.
This account could also be related: etherscan.io/address/0x0a19bfb7e08ec217c83f1f51807397972999b64b
Transferred 100 ETH into the “commissions account” 2 days ago. Most of the IN transactions are small amounts of ETH from different accounts, so I’m thinking that’s the affiliate investment deposit address?
Also worth noting the KuveraPool account hasn’t transferred out for 2 weeks now.
If the ROI payment run from the payment account happens in 2 days, it’d mean if the account linked above is the affiliate investment account, Kuvera Global just recycled 100 ETH of new investment to meet ROI payments for the week.
@Oz, wouldn’t be surprised if some of these accounts somehow link back to USI Tech.
I agree that the 100 ETH is a strange, round, nominal number used for nothing more than easy accounting purposes.
Not really any other justification that I can see from why it might otherwise exist – just shuffling the books to keep appearances on the up-and-up.
Oz,
Today Kuvera announced further delays in crypto mining profit distributions. I find this interesting based on your findings.
I imagine this is something publicly verifiable on the congestion?
Today is the 7 day mark for the commissions account. Guess the 100 ETH of new investment wasn’t enough to cover withdrawals.
In true Ponzi fashion they’re stalling. There’s no abnormal congestion on the blockchain, it’s all BS.
23 hours ago Kuvera transferred 237 ETH out of their KuveraPool account.
Approx 18 hrs ago the commission account was used to pay a bunch of identical 0.075523 Ether ROI payments. If you go back further there’s similar groupings of higher ROI payments that started a few hours earlier.
If anyone in Kuvera hasn’t been paid their weekly ROI it’s because Kuvera hasn’t paid them. Has nothing to do with blockchain delays.
And I’ll point out again, 100 ETH was transferred from what appears to be the affiliate investor deposit account to the commission account prior to the ROI payment run.
KuveraPool mining is not the sole source of ROI revenue, which drags Kuvera into Ponzi territory.
Oz,
I just want to say thanks for your coverage of this. Today I ran into a nice, personable guy who spent a couple of hours trying to sell me on joining up to his business “QVLifestyle”, and showed me a few videos including one of the old Wealth Generators office, introducing me to his colleagues.
I was interested, but decided to do my due diligence. I started to run into some odd things, and then I found your articles, which blew everything open.
You saved me a ton of time, and possibly money!
No worries, glad to hear you found our content useful.
I looked up transactions in account 0x0a19bfb7e08ec217c83f1f51807397972999b64b. Coincidentally almost all of the “in” transactions correspond to mining package prices.
Except that there’s also a BinanceWallet 0x0681d8Db095565FE8A346fA0277bFfdE9C0eDBBF (currently over 10,500 ETH) that transfers roughly 100 ETH into that same account about every 2 weeks?
They could be managing multiple new investment wallets (different regions for example). Doesn’t all have to go through the one.
If the Binance wallet is held by a top leader or distributor in the company, and three id’s probable cause for a Search Warrant to be obtained, it may be possible to subpoena the identity of the wallet holder.
Looked up wealthgenglobal.com. Customers can buy mining packages here too now and not just through Kuvera distributors.
or maybe just a name change from Kuvera to WealthGen Global? Or maybe WealthGen Global is part of Kuvera? Not a lot of information on the website… video said to “contact the person who shared this video with you.”
Or maybe just an old domain? Looks like some old Wealth Generators stuff on there. Maybe not related to WealthGen Global LLC.
Looks like an attempt at pseudo-compliance through shell companies. Didn’t work for Nui (Mintage Mining, Symatri etc.), won’t work here.
Investview need to register their Kuvera mining opportunity with the SEC at a federal level and provide full disclosure.
I actually signed up last year, and have been getting deposits all the time. At the time the mining contract was $599 and I would receive a Little over 2ETH during my 1,000 day contract if the math checked out, which at the time 1 single ETH coin costs up to $600 a coin.
It was a no brainer and I had nothing to lose. I’m still getting deposits daily.
Now what I didn’t do:
I dint sign up for wealth management because I don’t believe in MLMs lifestyles.
I never went to their meetings.
I refuse to join a MLM becusse they promise a free lifestyle but you’re not free. You’re always chasing people to sign up.
So if understand your article correctly, you’re saying all my deposits don’t come from mining but from sign up referrals and that will come up tumbling down like it did for Bernie Madoff?
There could be a small amount of mining going on for pseudo-compliance (“hey look, we actually mine!”), but if you ask for evidence 100% of your ROI payments are from mining good luck.
If everything was legit Kuvera Global would be registered with the SEC and provide investors and public with legally required disclosures.
Quarterly report filed this month… Investview has had to adjust the affiliate/distributor bonus plan from maximum payout to “closer to 60%”
One of the new opportunities Kuvera is offering was discussed at the Elevate Event in Vegas last weekend (btw… supposed to be held at exclusive Howard Hughes mansion but last minute Investview pulled the plug on that so many distributors were scrambling to find accommodations at other hotels), is that Kuvera is going after ultra high net worth individuals.
They are guaranteeing (through Lords of London) a “return on your investment” after twelve years if you invest $500,000.00 or more in a Kuvera mining contract.
Lloyds of London. And Lloyds insurers do not underwrite dodgy unregistered securities so that little fleas can get rich quick.
A twelve year investment term? For a fly-by night cryptocurrency outfit? Shut up and take my billions.
It is almost certainly total baloney to make the little fleas think they are about to join the ranks of the super-rich. Ultra high net worth individuals do not become ultra high net worth by investing in dodgy unregulated investment schemes (setting them up is another thing entirely).
That said, I wouldn’t rule out entirely the possibility that some rich guy’s wastrel son has been dumb enough to put money into Kuvera in between Instagram posts.