Nui has its origins in Divvee, a failed “access to discounts” MLM opportunity that launched in mid 2016. When Divvee’s original model failed, the company rebooted as a mobile app promotion platform. That also failed, prompting Divvee’s descent into unregistered securities. In late 2017 Divvee merged with Hodo Global. The merger created Nui, which focused [Continue reading…]
Nui @ BehindMLM
Seemingly in response to Texas’ cease and desist, Nui has announced it is restructuring its affiliate offering. We haven’t heard much from CEO Darren Olayan after he claimed securities regulation didn’t exist a few weeks ago. Thus is was left to “Keystone Leaders” Jim Paré and Casey Combden to front affiliates.
Nui CEO Darren Olayan has taken to Facebook to claim the securities regulations behind a recently served cease and desist don’t exist. Texas issued Olayan, Nui, Mintage Mining and Symatri with a securities fraud cease and desist on July 11th. At a corporate level Nui has vowed to “vigorously defend” Texas’ alleged securities fraud violations, [Continue reading…]
Although we’d caught wind of it a day before, yesterday Nui published it’s official response to the Texas cease and desist. Following months of assurances that Nui, Mintage Mining, Symatri and the Kala altcoin had been signed off on by “top law firms in the US”, Texas issued the company with a securities fraud cease [Continue reading…]
Despite reassurances by Nui that their Kala altcoin and Mintage Mining have “stability and protection with the SEC“, a US securities regulator has issued the company with a cease and desist.
For the past few months Mintage Mining and their affiliates have heavily marketing their passive mining ROI opportunity as being SEC compliant. Then there was the whole Jones Day SEC lawyers nonsense, despite the SEC using in-house counsel in its regulatory lawsuits. As good a sign as any the SEC is asleep at the wheel when [Continue reading…]
Despite US regulators cracking down on MLM cryptocurrency mining opportunities recently, Nui affiliates maintain their unregistered securities offering is legal. This assertion is not based on US securities law or enforcement of it, but rather Nui’s legal representation in the US.
As part of continued efforts to mislead potential investors on MLM cryptocurrency offerings and US securities law, in an April 23rd blog article Nui claim its Kala altcoin has “increased stability and protection with the SEC”. In a nutshell, Nui’s entry into the cryptocurrency MLM niche spans Symatri, Kala and Mintage Mining. Nui runs Symatri, which is essentially [Continue reading…]
Mintage Mining is purportedly a partnership between David Childs (cited as owner of the company) and Darren Olayan, CEO of Nui. BehindMLM reviewed Mintage Mining last December. We came to the conclusion that, at best the cloud mining business model would constitute a securities offering. The lack of registration with the SEC at the time [Continue reading…]
Mintage Mining popped up on my radar a few weeks ago as part of Nui. According to the Mintage Mining website, the company is a collaborative crypto mining platform that brings cryptocurrency enthusiasts together to mine the most current and profitable coin available each week. Mintage Mining provide no information on their website about who [Continue reading…]