OnPassive diverts payments to Dubai after SEC lawsuit
Following an SEC lawsuit alleging $108 million in fraud, OnPassive appears to be diverting payments to Dubai.
OnPassive affiliates report US banks are flagging the transactions as fraudulent.
Prior to the SEC’s lawsuit, OnPassive is believed to have been using US banking channels. Now the company is laundering funds through Dubai and cryptocurrency.
This has prompted US banks to start flagging OnPassive payments are fraudulent:
This isn’t surprising. Dubai is a worldwide hub for financial fraud, including MLM.
Once funds are transferred into OnPassive, affiliates are given OKOIN.
OKOIN is a worthless inhouse token represented to equal the USD.
In response to the SEC’s lawsuit, which pointed out OnPassive had not released a product since launch, Ash Mufareh announced plans to release O-Connect.
Up until the SEC filed its lawsuit, O-Connect was an unreleased Zoom clone OnPassive used to market its MLM opportunity for years.
Whereas Zoom is free or $250 annually at its highest retail tier, OnPassive is charging 375 OKOIN ($375) every quarter for access to O-Connect ($1500 annually).
Another response to the SEC’s lawsuit is OnPassive offering refunds on $97 O-Founder fees.
Unfortunately due to threats of “immediate action”, we don’t know whether OnPassive refund requests are being promptly honored.
What we do know is, as of August 2023, OnPassive claims to have sold 1.4 million O-Founders positions.
At $97 a pop, this comes to $138.4 million in potential refunds. Even if it’s just for academic purposes, hopefully the SEC obtains OnPassive refund data as part of the discovery process.
Unfortunately rather than acknowledge the SEC suing OnPassive for $108 million as a major federal enforcement action, Mufareh and OnPassive promoters are minimizing it to a “press-release”.
Other OnPassive affiliates are working to suppress awareness of the SEC’s OnPassive lawsuit.
While it’s true the SEC issued a press-release regarding its federal lawsuit, the enforcement action itself is the lawsuit. The SEC prevailing, either by jury verdict or settlement, would mean the end of OnPassive.
It’s expected as reality sinks in, over the coming months more and more OnPassive affiliates will realize they’ve been had.
Questions to the SEC can be submitted via their website.
Hat tip to The Recovering Hunbot for keeping tabs on OnPassive developments.
One could hope that this is a sign that this is the beginning of the end of this Ponzi.
It’s about time that the banks step in to put an end to this nonsense. It’s been allowed to run for way too long!
Actually, in his last webinar before the September 1st release of O-Connect, Ash stated that there would be no refunds of actual cash, and the “cancel membership” to get a refund button was removed from the Onpassive back office.
Ash stated that the $97 founder fee was a “deposit”, and that as a generous gesture, the $97 would be “refunded” to the founder’s O-Wallet to be used to pay for O-Connect.
As far as I can tell, actual cash is still flowing from founders to Ash.
It looks like Ash may have paid some of the leaders’ commissions directly in real money, and these “leaders” are flogging founders who can’t pay with credit cards to buy prepaid “Revolut” cards to pay for O-Connect.
Tanja, one of the enforcers in OP Nation, is admitting that O-Connect isn’t fully operational yet (coming soon) but flogging founders to pay up anyway.
Some shady individuals at OnPassive
This scam is trying to squeeze out more blood from its poor founders
They are selling the incomplete and unfinished free o-connect version as a paid product. And it still does not work correctly (diddnt Ash say he wanted all products 100% perfect before release).
With payments being filterd to Dubai this looks like a last attempt to take in some money before the SEC shut this scam down.
I will keep you updated on this scam.
(Ozedit: spam removed)
Geez another one scammed me
The sooner this gets shut down the better. More and more money through pre paid debit cards ,crypto are being sent to Dubai.
How long before authorities are aware of whats gone on
So Ash and all his dedicated team leaders and Dubai are in on this scam l believe. This is so sad and disgusting.
Hats off to Marty and the other ***holes for ripping us off. I hope all get jail time and a lot of it.
They all new what they were doing especially if they were getting paid and we weren’t. Bunch of bullshit. We should all show up at their houses and see what they think.
We need to go surround ashes house in fla and not move. Extremely disappointed and pissed off. I could be in florida in 3 days.
We need to band together ourselves and start a lawsuit.
Now he’s taking away the accounts we haven’t opened yet because he hasn’t dropped down any money he said he would. Like I said we need to do something about it.
Consumer lawsuit competing against the SEC isn’t going to do much. It’ll just get stayed.
Best bet is to contact the SEC.