WeWe Global & LyoPay Ponzi fraud warning from NZ
WeWe Global and LyoPay have received a “ponzi and pyramid” fraud warning from New Zealand.
As per the Financial Markets Authority’s February 8th warning;
FMA are aware that WEWE Global and LYOPAY are offering cryptocurrency products and services via webinars and public event in New Zealand.
We note they are not registered on the Financial Service Providers Register or regulated for providing their services and products to New Zealand retail clients, as required by the Financial Service Providers (Registration and Dispute Resolution) Act 2008 Act and Financial Markets Conduct Act 2013.
We recommend exercising caution when dealing with these entities.
The FMA’s warning cites WeWe Global and LyoPay, operating from the domains:
- wewe.global
- lyopay.com
- lyowallet.com
- lyobanq.com
- lyotrade.com
- lyomerchant.com
- lyopay.pro
- lyotravel.com
- lyotechlabs.com
- LyoSwapBot (Telegram group) and
- lyocredit.io
BehindMLM reviewed WeWe Global in July 2021. The first incarnation of the scam revolved around WEWEX Ponzi points.
In 2022 WeWe Global expanded its Ponzi scheme with LyoFI and LyoPay. This introduced LYO token to replace WEWEX.
LYO collapsed towards the end of 2022, prompting the launch of LFI token.
The FMA’s WeWe Global and LyoPay fraud comes amidst a February 4th to 15th “Oceania Tour“.
The “tour”, which consists of various marketing events targeting Australia and New Zealand, is headed up by Diego Endrizzi.
Diego Endrizzi, WeWe Global Presidential Ambassador & Global Master Distributor, was involved with this unique project since its inception and is touring Australia and New Zealand in February 2023. At these events Diego will unveil the Vision, Mission and Road Map to what promises to be one of the most compelling business opportunities of our life time.
Before pushing MLM crypto Ponzi schemes, Endrizzi was Jeunesse Global and Organo Gold distributor.
Originally from Italy, Endrizzi transition to crypto fraud coincided with him relocating to Dubai.
Dubai, a notorious crime den that harbors wanted fugitives, is the MLM scam capital of the world.
David Farrier from Webworm has been tracking WeWe Global promotion in New Zealand.
In a February 1st Webworm article, Farrier cited Jonathan Callinan as one of WeWe Global’s New Zealand promoters.
After his “Online Business Accelerator” business failed, Callinan seems to have gotten into MLM crypto fraud sometime last year.
Farrier noted Callinan running a “WeWe Global Opportunity & Training Session” last November. He also reached out for comment;
I am currently looking in the Wewe MLM, and understand you recruited people into WeWe.
I wanted to know if you are still involved in recruiting for this scheme, and if so, are you bothered by the pyramid scheme nature of this business.
To which Callinan replied;
None of your business.
Two days after publishing his WeWe Global article, Farrier received a cease and desist from Callinan. In the notice Callinan alleges “defamation of character”.
It remains unclear how documenting Jonathan Callinan as a promoter of the WeWe Global and LyoPay Ponzi scheme, an indisputable fact, constitutes “defamation of character”.
Tellingly, Callinan appears to have since backed down.
SimilarWeb currently tracks top sources of traffic to WeWe Global’s website as Germany (26%), Italy (25%), Argentina (17%) and Bulgaria (12%).
Italy appears to be collapsing (down 20% month on month), which has likely behind Diego Endrizzi targeting victims in other regions.
WeWe Global is not registered with a financial regulator in any jurisdiction. The Ponzi scheme commits securities fraud the world over.
Update 18th August 2023 – WeWe Global has collapsed for a third time.
WEWE Global comes to Christchurch, got an email from David Farrier asking me to put together a few paragraphs explaining why this is not a good thing.
For the last 12 months I’ve been exposing the Ponzi scheme HyperVerse, it is estimated that $4 billion has been lost to people that invested in this crypto opportunity of a lifetime.
Originally people were told that if they invest $300 they would get $900 paid back to them in rewards in 600 days. Now they come out with different opportunities and rebrand themselves every few weeks.
Like any Ponzi scheme it’s impossible for them to survive. Once the money stopped, the lies started and the community got angry. The so-called ‘corporate’ behind it all promised to return people’s investments and claimed hackers had stolen the money. This is all part of the slow exit strategy.
Many of the leadership team that have been promoting HyperVerse, who are called VIP5, jumped ship and started diversifying to other Ponzi schemes such as NovaTechFX and WEWE Global.
One of the biggest multi-level marketers in the world who is promoting WEWE Global is Kalpesh Patel who has moved to Dubai. He recently travelled to South Africa running a promotion similar to Diego Endrizzi, who is travelling to 5 locations in New Zealand and Australia in February.
WEWE Global Oceania Tour 2023
– Pullman Melbourne Albert Park Sat, 4 Feb 2023 (ph removed)
– Novotel Sydney Parramatta Tue, 7 Feb 2023 (ph removed)
– Novatel Christchurch Airport Thu, 9 Feb 2023 (ph removed)
– InterContinental Sanctuary Cove Resort Sat, 11 Feb 2023 (ph removed)
– Adelaide Convention Centre Wed, 15 Feb 2023 (ph removed)
These events are used to recruit new leaders and entice crypto investors into an opportunity of a lifetime.
It is all multi-level marketing. They do not have a product or a service. They are selling a promise and a hope of big returns.
I’ve tried to disrupt them as much as possible by contacting all the venues that are hosting the events, ‘WEWE Global Oceania Tour 2023’. I’ve also contacted the Serious Fraud Office who has lodged a complaint with the FMA.
Don’t be fooled by these men in suits who use crypto terminology. They are the scumbags of the planet, they are the modern day thieves who will rob you blind.
The people that are falling victim are not youngsters, they are people heading into retirement who are trying to get their head around crypto, the blockchain, the ecosystem and the Metaverse.
Many of the people that contact me on a daily basis have invested their retirement money and lost the lot. They didn’t seem to fully understand what they had invested in. They trusted a friend or a family member who encouraged them to invest.
I feel like I am fighting this battle alone, but if I can disrupt or slow these fraudsters down, I will do everything in my power to throw obstacles at them. They defraud people out of their hard earned dollars.
I’ve created over 150 YouTube videos exposing Ponzi schemes and scams. I am currently investigating 50 like-minded Ponzi schemes.
I haven’t produced a video exposing WEWE Global yet (Maybe One). However, I can tell you they are in the top 5 Ponzi schemes happening at the moment.
There is a real #ScamDemic out there at the moment. If it sounds too good to be true, it often is.
Hi Danny de Hek,
I’m the President of an italian association against online scam.
Could you please give me a link of your youtube page? You’re not alone 🙂
Alessandro & Danny, You’re not alone.
youtube.com/@DEHEK
https://behindmlm.com/companies/master-key-bank-antoun-toubia-transitions-to-banking-fraud/ has Scammed 1,500+ Australia & New Zealand investors of $US15M+ over last 3 years!!!
The people behind WeWe Global include Diego Endrizzi (Dubai, United Arab Emirates), Steve Condos (Adelaide, South Australia), Michael Faust (Thailand), Kalpesh Patel (UK, resident of Dubai), Jose Gordo (Spain, resident of Dubai), Fabio Endrizzi (Dubai, United Arab Emirates), Tony Mark-Seymour (Adelaide, South Australia), and Luis Goes (Brazilian, resident of Dubai).
WeWe Global (LYOPAY) Crypto Scam Alert: FMA Flags as Ponzi & Pyramid Scheme – Multi-Level Marketing
youtube.com/watch?v=XCflyJw_mmw
Is the same Diego Endrizzi that appears on Paradise Papers?
offshoreleaks.icij.org/nodes/56105632
Can anyone tell me anything about Nadia from Melbourne (38th minute) at one point she refers to herself as mrs J Gibbs?
youtu.be/ZmLrn-KFNNk
She made over a million on WEWE during lockdown.
Testimonials are the main marketing tool for scammers. No wonder they always like to parade on luxurius cars, yatches and flats in Dubai.
Don’t forget Graham Laurie (aka Cashmaster)
Graham is a prolific scammer.
Here’s a picture of him meeting one of his best buddies, Kalpesh Patel ibb.co/W579tvC
And heavily promoting Lyopay ibb.co/jGz24mc via his pal’s “system” created by Michael Faust
Thick as thieves.
Hi there,
i sent a message to you a couple of days ago about having some key info on a couple of these scammers that my friend is connected to.
Can you let me know who i need to report to as i’m sure your readers will find this info helpful in avoiding these scumbags in future! Any contact details would be helpful.
Regards,
David.
Yeah sorry I’m a bit backed up on emails. Wanted to get through them yesterday then I got stuck into The Traders Domain.
Will get through the inbox today.
@David
I just replied to your email and it came back as undeliverable because the submitted email address doesn’t exist.
Kalpesh Patel is the main driving force for marketing this, and he has a long history of promoting illegal ponzi schemes which have collapsed and left millions of victims at a huge financial loss.
Michael Faust is also a main driving force for marketing this, and he also has a long history of promoting illegal ponzi schemes which have collapsed and left millions of victims at a huge financial loss.
How are these crooks not in jail yet?> i tell you how, they all hide out in Dubai and the Virgin Islands where there are no extradition laws!
hyperverse victim over here. I want to help expose these crooks in any way i can!
There is a women Gabby promoting this on tiktok, she seems pretty genuine about it all.