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British Columbia, Canada, has issued a securities fraud notice against Nugen Coin.

based on a warning issued by the British Columbia Securities Commission on August 16;

We just learned that NuGen Cryptocurrency sponsored NuGen Coin’s initial coin offering (ICO), in which residents of British Columbia (BC) can take part.

The Securities Act, RSBC 1996, c. 418 (the Act) may deem an ICO to be a distribution of securities, and as such, it may be required to file a prospectus.

A BC prospectus has not been submitted by NuGen Cryptocurrency.

Nugen Coin signaled Free Mart’s move to securities fraud, as discussed here on BehindMLM.

Nugen Coin was overshadowed by “Nugen Universe” in June. The old domain for Nugen Coin’s website has been deactivated today.

The securities fraud service provided by Free Mart has been expanded with Nugen Universe.

The original Nugen Coin 200% ROI Ponzi lies at the core of the Nugen Universe.

While your coins are being staked with NuGen, you earn extra coins four times daily at a rate of.357%, resulting in an overall return of.357% daily. The number of coins in your account will double in 202 days at such a compounding rate.

It’s important to remember that Nugen Universe gave affiliate investors instructions to hide securities fraud evidence at the beginning of July.

Unknown is whether the regulatory inquiry into Nugen Universe led to that instruction.

Due to its youth, Nugen Universe’s website hasn’t yet been adequately tracked by SimilarWeb.

We are aware that Americans made up the bulk of visitors to Nugen Coin’s dead website. As a result, US residents make up the bulk of Nugen Coin investors.

The alert from the BCSC implies that Nugen Universe may have extended to Canada.

Co-founders Fazil Mohamed Jabar (right) and John Austin are in charge of Nugen Universe.

Austin and Jabar both have homes in North Carolina and Florida, respectively.

Free Mart, Nugen Coin, Nugen Universe, Fazil Mohamed Jabar, and John Austin are not SEC-registered companies as of the time of publishing.

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