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Italy has outlawed GIG-OS and its marketing subsidiary, Global Success Management.

According to a statement made on September 6th, CONSOB believes GIG-OS and GSM have broken Italian financial regulations.

GIG-OS is the third iteration of EmGoldex, a Ponzi scheme with a gold theme that is thought to be operated by Russian con artists.

As far as I can determine, GIG-OS is sold under Global Success Management in addition to other names:

The fictitious businesses Are Free Ltd, Imperial System Ltd EOOD, and Ivory Dunes Limited are among the several linked corporations mentioned by CONSOB.

Following an internal study, CONSOB seems to have discovered NFT grifting, the most recent trick used by GIG-OS.

Noting that in addition to the “Equity Convertible Notes,” the “Packages” allow for the free distribution of a specific number of “NFTs of the Meta collection Aristippus” from the “Guaranteed Passive Income” as well as the assignment to the investor of tokens to be placed on “boards” for the achievement of incremental remuneration.

Reward mechanisms are also planned as part of the aforementioned “Fractal Stock Program” to raise users’ “passive incomes.”

Earlier, basic gold Ponzi scams like EmGoldex and GIG-OS existed. They now appear to have joined the cryptocurrency scam train.

CONSOB cautions that neither GIG-OS nor Global Success Management are CONSOB members and do not have an Italian securities law exemption.

On June 15th, CONSOB began a 90-day ban of access to the websites of GIG-OS and Global Success Management. GIG-OS and Global Success Management were allowed to defend themselves at this point.

Neither business did, and on September 6th, CONSOB declared the temporary suspension a statewide prohibition.

Whatever GIG-OS recruiting efforts were underway in Italy seem to have ended by this point.

Argentina (83%), Mexico (6%), and Uzbekistan (3%), according to SimilarWeb, are now the top three countries sending visitors to GIG-OS’ website. The website for Global Success Management receives very little traffic.

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