Author Avatar

editor

0

Share post:

Nugen Coin’s website has no information on who owns or runs the company.

On November 1st, 2021, Nugen Coin’s website domain (“nugencoin.com”) was privately registered.

Nugen Coin came to my attention as a result of a reader request linking it to Free Mart.

With a little study, I was able to verify this:

Free Mart was basically a pyramid scheme as it failed to differentiate between affiliates and retail customers. The MLM opportunity came with strange products that Free Mart said made illegal medical claims.

Having not looked into Free Mart since 2016, I learned the company is now known as “ShopFreeMart.”

ShopFreeMart operates from “shopfreemart.com,” which provides no firm ownership or leadership information. NugenCoin is also not mentioned.

ShopFreeMart’s failure to recognise Nugen Coin ownership and concealing this information from customers is a red flag. Failure to reveal ShopFreeMart ownership and business information is another.

Both failures to disclose are potential violations of the FTC Act.

According to the Nugen Coin marketing video screenshot above, John Austin is still the CEO of ShopFreeMart.

David Crookston left the organization in mid-2016 on ill terms. This caused Austin to air his dirty laundry in public.

Austin accomplished this in an unusual turn of events by impersonating yours indeed on a bogus BehindMLM website.

As always, if an MLM firm is not honest about who runs or controls it, consider twice before joining and/or turning over any money!

Products by Nugen Coin

Nugen Coin does not have any retailable items or services.

Affiliates can only promote Nugen Coin affiliate membership.

Compensation Plan for Nugen Coin

Nugen Coin affiliates invest in Nugen Coin with the expectation of a high ROI.

Nugen Coin is now being sold to Free Mart affiliates for 32.7 cents each.

The minimum investment in Nugen Coin is $50.

ShopFreeMart holds Nugen Coins for 18 months after investment. This is done in exchange for a 200 percent ROI every 202 days.

“While your coins are staked with NuGen, you will receive more coins four times per day at a rate of.35 percent, for a total daily return of.357 percent.

The number of coins in your account will double in 202 days at such a compounding rate.

18 months is 547 days, which equates to around 2.7 200 percent ROI 202-day cycles”.

Nugen Coins invested in by individually recruited affiliates earn a 10% commission. This is in addition to any MLM commissions made from ShopFreeMart.

ShopFreeMart’s website does not include any information on compensation. As a result, I can’t say whether the compensation plan has been updated since 2016.

Investing in Nugen Coin

Membership with Nugen Coin looks to be free.

A $50 investment in Nugen Coin is required to participate in the linked income opportunity fully.

To Sum Up

The website of ShopFreeMart is no longer receiving traffic. That means ShopFreeMart is no longer an MLM company.

Nugen Coin appears to be a desperate attempt to continue generating affiliate commissions by luring them into cryptocurrency fraud.

“Our flagship coin, NuGen Coin (symbol NUGEN), is available for purchase straight from us”.

ShopFreeMart does not offer any technical details on Nugen Coin. This is strange, given that Nugen Coin is advertised as “the new standard of banking and commerce.”

ShopFreeMart also promotes Nugen Coin with the standard “we’re going to be the next bitcoin” rubbish;

“Take a look at what occurred with Bitcoin. It was initially listed and traded at 5 cents each coin, and it is currently worth more over $41,000 per coin.

It is now your turn”.

This is a bogus marketing claim made solely to encourage investment in Nugen Coin.

This is based on the promise of a daily ROI that affiliates can earn passively over 18 months.

The Nugen Coin offering by ShopFreeMart is unmistakably a securities offering. This necessitates registration with financial regulators as well as the submission of audited financial reports.

Nugen Coin provides a company location in the US state of Florida in their End-User License Agreement. The Nugen Coin agreement further specifies that it will be governed by US law, excluding its conflict of law rules.

According to the SEC’s Edgar database, ShopFreeMart, Free Mart, Nugen Coin, and John Austin are not registered to offer securities in the United States.

This suggests that Nugen Coin and ShopFreeMart are committing securities fraud at the very least.

In terms of the investment possibility, ShopFreeMart affiliates were on board for 9.6 cents per coin – nearly a third of what Nugen Coin is currently being peddled for.

They will be the first to reach the 18-month maturity period, thereby cashing out previously invested assets.

10 percent commissions aren’t MLM, but I’ve covered Nugen Coin because of their ties to ShopFreeMart.

Those that solicit the most investors will naturally earn the largest Nugen Coin commissions.

Withdrawals will be processed through Nugen Coin’s proposed internal exchange.

“We are in the midst of launching our own NUGEN EXCHANGE, where you can purchase, sell, or hold for future price increases.

NUGEN will be listed among other important coins such as Bitcoin and many more on the exchange.

NUGEN will also be available on other exchanges, including Binance”.

It’s worth mentioning that, despite Nugen Coin’s website domain being registered seven months ago, the coin is still openly tradeable.

John Austin is most likely saving public trading for the impending exit-scam. When ShopFreeMart is unable or unwilling to pay withdrawal requests, Nugen Coin will be dumped on shady public exchanges.

Nugen Coin affiliate holders panic sell, the public trading value plummets to zero, and we apologize for your loss.

Gym Network Review: Is A Fraud
Pegasus Review: Is A Fraud

Leave a Comment

Your email address will not be published. Required fields are marked *