AladdinBOT 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:
- AladdinBot Restricted
- the web site area “aladdinbot.ai”
- the web site area “aladdinbot.io
- the web site area “aladdinbot.internet”
- Mark Ian Davis and
- Denise Skeels
As per the DFPI’s AladdinBOT fraud order;
Starting at the very least as early as 2023, AladdinBot supplied and bought securities within the type of funding contracts in California by means of basic solicitations on its web site. AladdinBot referred to those funding contracts as “Bots.”
AladdinBot facilitated investor deposits and withdrawals utilizing crypto property.
As a part of its solicitation efforts, AladdinBot used a pyramid scheme construction that might reward traders for inducing others to ship cash to AladdinBot.
The Bots supplied by AladdinBot had been securities that had been neither certified nor exempt from the qualification requirement beneath the CSL.
The Division has not issued a allow or different type of qualification authorizing AladdinBot to promote these securities in California.
Pursuant to Companies Code part 25532, AladdinBot Restricted, Mark Ian Davis, and Denise Skeels are hereby ordered to desist and chorus from the additional supply or sale of securities in California, together with however not restricted to funding contracts often called Bots, until and till the qualification necessities of the CSL have been met.
DFPI additionally printed an accompanying AladdinBOT fraud consciousness video on its official YouTube channel.
AladdinBOT was an MLM crypto Ponzi that launched in late 2023. The rip-off was fronted by Mark Ian Davis and Denise Skeels.
Each Davis (Australia) and Skeels (UK) are serial Ponzi scammers.
BehindMLM first got here throughout Davis in AI Commerce Ponzi advertising and marketing movies, circa 2018.
Davis labored in AI Commerce with RV Palafox. The pair would go on to launch PGI World in 2020.
PGI World was an MLM an MLM crypto Ponzi scheme pitching 200% returns. It’s collapse in 2021 is believed to have resulted in tens of millions of {dollars} in client losses.
In August a BehindMLM reader reached out by way of e-mail to report Davis had been arrested in Brisbane, Queensland.
Accessing Australian felony case particulars for energetic instances doesn’t look like potential.
Nonetheless, the Brisbane Courier has tagged Davis as first showing earlier than the Brisbane Magistrates Courtroom on December eleventh, 2023.
All through 2024 Davis made further appearances earlier than the courtroom on March 4th, July eighth and September ninth.
Davis was conspicuously absent from social media between September 1st and twenty first. This coincides together with his September ninth courtroom look.
Civil courtroom information may be looked for the Brisbane Magistrates Courtroom however nothing comes up for Davis. This does recommend Davis’ appearances relate to a felony case.
That stated, the character of any felony prices filed towards Davis stay unclear.
Denise Skeels isn’t recognized to BehindMLM however labored as AladdinBOT’s CMO:
Not surprisingly, Skeels is a former prime promoter of PGI World (aka Praetorian Group Worldwide):
Davis and Skeels being tied to PGI World and them teaming as much as defraud shoppers once more by means of AladdinBOT is unlikely to be a coincidence.
AladdinBot went on to break down in February 2024, as soon as once more making Davis and Skeels chargeable for widespread client losses.
Based mostly on web site site visitors evaluation by SimilarWeb on the time of collapse, the vast majority of AladdinBOT victims are believed to have been from the US and Hungary.