Mavie Global, Miracle Cash & More and promoter Shelly Cullen are the subject of a securities fraud warning from New Zealand.

On June 18th the Financial Market’s Authority warned consumers

to be cautious of financial and cryptocurrency products and services being promoted by Shelly Rose Cullen (Ms. Cullen).

Ms. Cullen is known to target different communities in New Zealand, promoting various cryptocurrency and financial-related products and services, none of which appear to be regulated either in New Zealand or overseas.

The FMA cites two scams promoted by Cullen (right); Mavie Global and Miracle Cash & More.

The FMA has also received complaints about Ms. Cullen promoting other cryptocurrency schemes, including Mavie Global and Miracle Cash&More, which appear like Lion’s Share and are unregulated entities in New Zealand.

The FMA additionally cites Dvyneways Limited, a New Zealand registered company owned by Cullen, as a possible entity used to launder ill-gotten gains.

Ms. Cullen is the Director of Dvyneways Limited, which offers payment card systems loaded with cryptocurrency (rather than traditional money).

Dvyneways is a registered company but is not registered on the Financial Service Providers Register to provide financial products or services, as required by the Financial Service Providers (Registration and Dispute Resolution) Act 2008.

In April 2024 Cullen was convicted on fraud charges related to her promotion of the collapsed Lion’s Share pyramid scheme.

Cullen was scheduled to be sentenced in the North Shore District Court on June 24th but I haven’t yet seen confirmation.

Cullen, a New Zealand national, fled to Cyprus in 2022 after she learned of an investigation into her then alleged conduct.

The FMA encourages consumers who have been recruited by Shelly Cullen to contact them.


Update 26th June 2024 – Shelly Cullen has received a $5.9 million NZD judgment.