Polvera has received a securities fraud desist and refrain order from California’s Department of Financial Protection and Innovation (DFPI).

DFPI’s August 20th, 2024 Polivera order cites the following respondents:

  • Polivera Limited
  • the website domain “polivera.ai”
  • the website subdomain “api-polivera.ai” and
  • Valeria Carbone

As per the DFPI’s Polivera fraud order;

Beginning at least as early as May 2024, Polivera offered and sold securities in the form of investment contracts in California through general solicitations on its website. Polivera referred to these investment contracts as “Bots.”

Polivera facilitated investor deposits and withdrawals using crypto assets.

As part of its solicitation efforts, Polivera used a pyramid scheme structure that would reward investors for inducing others to send money to Polivera.

The Bots offered by Polivera were securities that were neither qualified nor exempt from the qualification requirement under the CSL.

The Department has not issued a permit or other form of qualification authorizing Polivera to sell these securities in California.

Pursuant to Corporations Code section 25532, Polivera Limited and Valeria Carbone are hereby ordered to desist and refrain from the further offer or sale of securities in California, including but not limited to investment contracts known as Bots, unless and until the qualification requirements of the CSL have been met.

DFPI also published an accompanying Polivera fraud awareness video on its official YouTube channel.

Polivera was an AI trading bot MLM crypto Ponzi that launched in mid 2024.

The scam was fronted by “Valeria Carbone”, played by an unidentified woman dressed up in a wig and glasses.

This is typical of MLM Ponzi schemes run by eastern Europeans (Russia, Ukraine, Belarus).

Polivera collapsed in August 2024. Based on website traffic analysis by SimilarWeb, the majority of Polivera victims are believed to have been from Vietnam, Hungary and the US.