My Every day Alternative’s Akashx buying and selling funding scheme has collapsed.
In an undated communication from “Akashx Workforce” shared with BehindMLM, a “liquidity sweep” on gold is being blamed.
The liquidity sweep that occurred has taken out all consumers world wide on Gold, and sadly our group was additionally aside of the consumers orders on Gold.
How a lot My Every day Alternative associates misplaced is unclear.
Quite than simply name it quits, sadly My Every day Alternative are gearing as much as fleece their associates once more.
For those who have taken a loss on the gold bot, together with our staff we now have had a set again on that & are on the identical boat on the subject of shedding, once we win; all of us win. And once we lose; all of us lose.
Now the specialists behind the platform who’ve introduced a lot constructive outcomes for us over the span that you simply guys have witnessed, are going to plan a sport plan and actually come collectively and supply a choice for us to actually make a come again from this set again.
The bot shall be beneath upkeep as we analyze our parameters and make enhancements for the long run.
BehindMLM reviewed Akashx as a part of My Every day Alternative’s MLM providing in 2020.
We recognized securities fraud pertaining to automated buying and selling, purportedly through an AI bot.
Disclosure failures have been additionally a serious concern. Specifically who’s behind Akashx and its bot.
Akashx is being marketed as a part of My Every day Alternative, that means the onus is on them to register the securities providing with the SEC.
That hasn’t occurred, that means My Every day Alternative and Akashx are committing securities fraud within the US.
Contemplating the US is the most tightly regulated jurisdiction on the planet on the subject of MLM associated securities fraud, we don’t anticipate this ending nicely.
Two years later, everybody has been worn out with no accountability.
Akashx as soon as had a public-facing web site. It’s since been disabled and now solely serves as a log-in portal for My Every day Alternative associates.
I don’t know the specifics of it however there’s additionally an Akashx log-in web page arrange at Membership Swan:
Membership Swan is owned by Christopher Scanlon.
Scanlon (proper) was arrested in Could for working an unlicensed cash transmitting enterprise.
By way of Membership Swan and plenty of shell corporations, Scanlon assisted a number of MLM corporations conceal funds.
It seems Akashx is likely to be one such firm concealing investor funds by Membership Swan.
My Every day Alternative continues to be promoting entry to Akashx for $199 a month or $1999 yearly.
The automated buying and selling attainable by Akashx isn’t talked about.
As of July 2023, SimilarWeb tracked simply ~18,000 visits to Akashx’s web site – down ~27% month on month.
Nearly all of Akashx’s web site visitors originated from the US (77%), adopted by Canada (20%) and the UK (2%).