CashFlow NFT began off final yr as a real-estate themed NFT ruse Ponzi scheme.
That didn’t go anyplace so now, by way of “Boogie Gopher” NFT funding positions, the corporate is illegally promoting digital shares.
Earlier than we dive in, it’s vital to notice that CashFlow NFT doesn’t need its criminal activity made public:
The above is a slide from a latest CashFlow NFT advertising and marketing presentation, supplied to us courtesy of No Pants Earnings.
On the coronary heart of CashFlow NFT’s new ruse is a NASDAQ itemizing, supposedly going down within the “subsequent 12-18 weeks” (3-4 months).
With a view to record on NASDAQ, CashFlow NFT and/or related outfit Miracle Money & Extra should be registered with the SEC.
A search of the SEC’s Edgar database reveals neither CashFlow NFT or Miracle Money & Extra are registered with the SEC.
So prima facie, we’ve got a continuation of the securities fraud CashFlow NFT began with its real-estate ruse.
With a view to get hold of digital shares, on the illustration of anticipated passive revenue through a NASDAQ IPO, CashFlow NFT associates should spend money on Boogie Gopher NFTs.
The NFTs themselves are nugatory. It’s the same old low-effort algorithmically generated cartoon animal crap.
Regardless of itemizing on NASDAQ, for what needs to be apparent causes CashFlow NFT isn’t immediately concentrating on US residents. At the least not but.
Right here’s an instance of CashFlow NFT’s secret digital share contract being supplied to Italian and UK resident shoppers:
All extremely unlawful, seeing as CashFlow NFT isn’t registered to supply securities within the US, Italy or UK.
However the UK’s FCA outright banned MLM cryptocurrency funding schemes on October eighth, 2023.
CashFlow NFT is run by former OneCoin Ponzi scammer Micah Theard. Initially Theard was hiding behind UK resident Daniel Wooden, however Wooden has since disappeared.
Related firm Miracle Money & Extra is run by Hakan Törehan, a person with ties to organized crime.
Each Theard and Torehan are primarily based out of Cyprus.
Since its launch final yr to date CashFlow NFT has failed to realize traction. CashFlow NFT web site site visitors is so low that, as of September 2023, SimilarWeb isn’t monitoring it.
Chatting with CashFlow NFT’s potential ties to organized crime in Europe, the corporate issued a response to No Pants Earnings’ October twenty second YouTube video yesterday.
Of their response, CashFlow NFT didn’t handle any of the fraud considerations raised in No Pants Earnings’ three hour lengthy video. As an alternative they doxxed channel proprietor Richard Shilling to their investor-base.
The take-away? Micah Theard and Hakan Törehan know what they’re doing is prohibited. They don’t have any protection to the fraud they’re committing.
Shoppers are suggested that everybody however a small share of recruiting CashFlow NFT traders misplaced cash. The identical will occur once more with Boogie Gopher NFT positions.