TLC Buying and selling has acquired a securities fraud desist and chorus order from California’s Division of Monetary Safety and Innovation (DFPI).
DFPI’s August twentieth, 2024 order cites the next respondents:
- TLC Buying and selling, dba Commerce Like Loopy AI and TLC Buying and selling AI
- the web site area “tlctrading.ai”
- the web site area “tradelikecrazy.ai and
- Armen Sargasyan
As per the DFPI’s TLC Buying and selling fraud order;
Starting no less than as early as October 2023, TLC Buying and selling provided and offered securities within the type of funding contracts in California via normal solicitations on its web site.
TLC Buying and selling facilitated investor deposits and withdrawals utilizing crypto property.
As a part of its solicitation efforts, TLC Buying and selling used a pyramid scheme construction that will reward buyers for inducing others to ship cash to TLC Buying and selling.
The Packages provided by TLC Buying and selling had been securities that had been neither certified nor exempt from the qualification requirement below the CSL.
The Division has not issued a allow or different type of qualification authorizing TLC Buying and selling to promote these securities in California.
Pursuant to Companies Code part 25532, TLC Buying and selling LLC d/b/a Commerce Like Loopy AI and TLC Buying and selling AI and Armen Sargasyan are hereby ordered to desist and chorus from the additional provide or sale of securities in California, together with however not restricted to funding contracts often known as Packages, until and till the qualification necessities of the CSL have been met.
DFPI additionally printed an accompanying TLC Buying and selling fraud consciousness video on its official YouTube channel.
Commerce Like Loopy was an AI buying and selling bot crypto Ponzi that launched in late 2023.
By mid 2024 Commerce Like Loopy had collapsed, prompting a TLC Buying and selling reboot.
TLC Buying and selling noticed the introduction of Polish nationwide Tomas Malodobry enjoying fictional TLC Buying and selling CEO Armen Sargasyan.
TLC Buying and selling collapsed on July thirty first, 2024.
Commerce Like Loopy and TLC Buying and selling are believed to have been run by Polish and/or Russian scammers hiding in Dubai.