WeWe International 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 International and LYOPAY are providing cryptocurrency services by way of webinars and public occasion in New Zealand.
We observe they aren’t registered on the Monetary Service Suppliers Register or regulated for offering their companies and merchandise to New Zealand retail shoppers, 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 International 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 International in July 2021. The primary incarnation of the rip-off revolved round WEWEX Ponzi factors.
In 2022 WeWe International expanded its Ponzi scheme with LyoFI and LyoPay. This launched LYO token to switch WEWEX.
LYO collapsed in direction of the tip of 2022, prompting the launch of LFI token.
The FMA’s WeWe International and LyoPay fraud comes amidst a February 4th to fifteenth “Oceania Tour“.
The “tour”, which consists of assorted advertising and marketing occasions concentrating on Australia and New Zealand, is headed up by Diego Endrizzi.
Diego Endrizzi, WeWe International Presidential Ambassador & International Grasp Distributor, was concerned with this distinctive challenge 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 Street Map to what guarantees to be probably the most compelling enterprise alternatives of our life time.
Earlier than pushing MLM crypto Ponzi schemes, Endrizzi was Jeunesse International 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 International promotion in New Zealand.
Farrier recognized one of many ringleaders prompting WeWe International in New Zealand 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 working a “WeWe International Alternative & Coaching Session” final November. He additionally reached out for remark;
I’m presently trying within the Wewe MLM, and perceive you recruited individuals into WeWe.
I needed to know if you’re 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 online business.
Two days after publishing his first WeWe International 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 International and LyoPay Ponzi scheme, an proven fact, constitutes “defamation of character”.
Tellingly, Callinan seems to have since backed down.
SimilarWeb presently tracks high sources of site visitors to WeWe International’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 possible behind Diego Endrizzi concentrating on victims in different areas.
WeWe International shouldn’t be registered with a monetary regulator in any jurisdiction. The Ponzi scheme commits securities fraud the world over.
