Mavie International, Miracle Money & Extra and promoter Shelly Cullen are the topic of a securities fraud warning from New Zealand.
On June 18th the Monetary Market’s Authority warned shoppers
to be cautious of economic and cryptocurrency services and products being promoted by Shelly Rose Cullen (Ms. Cullen).
Ms. Cullen is thought to focus on totally different communities in New Zealand, selling varied cryptocurrency and financial-related services and products, none of which look like regulated both in New Zealand or abroad.
The FMA cites two scams promoted by Cullen (proper); Mavie International and Miracle Money & Extra.
The FMA has additionally acquired complaints about Ms. Cullen selling different cryptocurrency schemes, together with Mavie International and Miracle Money&Extra, which seem like Lion’s Share and are unregulated entities in New Zealand.
The FMA moreover cites Dvyneways Restricted, a New Zealand registered firm owned by Cullen, as a attainable entity used to launder ill-gotten good points.
Ms. Cullen is the Director of Dvyneways Restricted, which gives cost card techniques loaded with cryptocurrency (reasonably than conventional cash).
Dvyneways is a registered firm however shouldn’t be registered on the Monetary Service Suppliers Register to offer monetary services or products, as required by the Monetary Service Suppliers (Registration and Dispute Decision) Act 2008.
In April 2024 Cullen was convicted on fraud costs associated to her promotion of the collapsed Lion’s Share pyramid scheme.
Cullen was scheduled to be sentenced within the North Shore District Courtroom on June twenty fourth however I haven’t but seen affirmation.
Cullen, a New Zealand nationwide, fled to Cyprus in 2022 after she discovered of an investigation into her then alleged conduct.
The FMA encourages shoppers who’ve been recruited by Shelly Cullen to contact them.