WeWe World and LyoPay have obtained a “ponzi and pyramid” fraud warning from New Zealand.
As per the Monetary Markets Authority’s February eighth warning;
FMA are conscious that WEWE World and LYOPAY are providing cryptocurrency services by way of webinars and public occasion in New Zealand.
We be aware they aren’t registered on the Monetary Service Suppliers Register or regulated for offering their providers and merchandise to New Zealand retail purchasers, as required by the Monetary Service Suppliers (Registration and Dispute Decision) Act 2008 Act and Monetary Markets Conduct Act 2013.
We advocate exercising warning when coping with these entities.
The FMA’s warning cites WeWe World and LyoPay, working from the domains:
- wewe.world
- lyopay.com
- lyowallet.com
- lyobanq.com
- lyotrade.com
- lyomerchant.com
- lyopay.professional
- lyotravel.com
- lyotechlabs.com
- LyoSwapBot (Telegram group) and
- lyocredit.io
BehindMLM reviewed WeWe World in July 2021. The primary incarnation of the rip-off revolved round WEWEX Ponzi factors.
In 2022 WeWe World expanded its Ponzi scheme with LyoFI and LyoPay. This launched LYO token to exchange WEWEX.
LYO collapsed in the direction of the tip of 2022, prompting the launch of LFI token.
The FMA’s WeWe World and LyoPay fraud comes amidst a February 4th to fifteenth “Oceania Tour“.
The “tour”, which consists of varied advertising and marketing occasions concentrating on Australia and New Zealand, is headed up by Diego Endrizzi.
Diego Endrizzi, WeWe World Presidential Ambassador & World Grasp Distributor, was concerned with this distinctive mission since its inception and is touring Australia and New Zealand in February 2023. At these occasions Diego will unveil the Imaginative and prescient, Mission and Highway Map to what guarantees to be one of the crucial compelling enterprise alternatives of our life time.
Earlier than pushing MLM crypto Ponzi schemes, Endrizzi was Jeunesse World and Organo Gold distributor.
Initially from Italy, Endrizzi transition to crypto fraud coincided with him relocating to Dubai.
Dubai, a infamous crime den that harbors needed fugitives, is the MLM rip-off capital of the world.
David Farrier from Webworm has been monitoring WeWe World promotion in New Zealand.
In a February 1st Webworm article, Farrier cited certainly one of WeWe World’s New Zealand promoters as Jonathan Callinan.
After his “On-line Enterprise Accelerator” enterprise failed, Callinan appears to have gotten into MLM crypto fraud someday final 12 months.
Farrier famous Callinan operating a “WeWe World Alternative & Coaching Session” final November. He additionally reached out for remark;
I’m at the moment wanting within the Wewe MLM, and perceive you recruited individuals into WeWe.
I needed to know in case you are nonetheless concerned in recruiting for this scheme, and if that’s the case, are you bothered by the pyramid scheme nature of this enterprise.
To which Callinan replied;
None of your corporation.
Two days after publishing his WeWe World article, Farrier obtained a stop and desist from Callinan. Within the discover Callinan alleges “defamation of character”.
It stays unclear how documenting Jonathan Callinan as a promoter of the WeWe World and LyoPay Ponzi scheme, an undeniable fact, constitutes “defamation of character”.
Tellingly, Callinan seems to have since backed down.
SimilarWeb at the moment tracks prime sources of site visitors to WeWe World’s web site as Germany (26%), Italy (25%), Argentina (17%) and Bulgaria (12%).
Italy seems to be collapsing (down 20% month on month), which has doubtless behind Diego Endrizzi concentrating on victims in different areas.
WeWe World is just not registered with a monetary regulator in any jurisdiction. The Ponzi scheme commits securities fraud the world over.
