Barnaje DAO has acquired a securities fraud warning from the Australian Securities and Investments Fee (ASIC).
ASIC added Barnaje DAO to its Investor Alert Checklist on April seventh, 2025.
[Barnaje DAO] is more likely to offer monetary providers to Australian customers. It doesn’t maintain an Australian monetary providers licence or Australian credit score licence from ASIC, and isn’t authorised by a licensee.
Providing unregistered monetary providers to Australian customers constitutes securities fraud.
Barnaje launched as a sovereign citizen nutjob gifting scheme in late 2023.
The rip-off is headed up by Lynford Theobald, an 80+ yr previous Utah resident and serial promoter of MLM gifting schemes.
The unique iteration of Barnaje collapsed a couple of months after launch. This prompted Theobald to reboot as Barnaje DAO.
Barnaje DAO is an try to cover Theobald’s possession of the unlawful gifting scheme.