Aubit has dropped its identify.
In an announcement made on January third, the Ponzi scheme revealed it should go by “Freeway”.
In a subsequent announcement, AuBit introduced it will be referring to associates as “FreewayFam”.
Freeway is the identify of Aubit’s token. In late December the corporate additionally rebooted the token “below a brand new sensible contract deal with” as a result of causes.
Aside from the name-change, Freeway’s enterprise mannequin seems to be the identical as Aubit’s.
The pitch is an 8% to 16% annual return. By means of “supercharger” funding plans, Freeway’s provided returns climb to 43% yearly.
Freeway claims that is authorized as a result of it has “absolutely regulated brokerage accounts”.
This pertains to Ardu Prime, via which Freeway has registered the Ardu Prime SA shell firm with monetary regulators in Greece, Germany and the UK.
AuBit Prime is a registered buying and selling identify owned and operated by Ardu Prime.
Ardu Prime SA is an EU Regulated entity and MiFID II compliant. (Hellenic Capital Market Fee License: 4/164/20.7.1999, FCA reference: 725166, BaFin ID: 10146106)
Initially Aubit represented it was in a partnership with Ardu Prime. In late 2021 this facade was dropped, with Aubit taking an “possession share” in Ardu Prime.
This noticed Aubit declare it was now owned and operated by Ardu Prime. Aubit Prime branding was created however doesn’t seem to have caught.
No matter the place Ardu Prime is or isn’t registered to supply securities, at no time has Aubit, now Freeway, been registered with a monetary regulator.
From mid August 2021, Aubit started soliciting funding from US residents. This continues in Freeway below “Freeway Lite US”.
Whereas Freeway’s web site boasts of annual returns, Freeway Lite US’ web site is a barebones login type:
A company deal with in Wyoming is offered within the Freeway Lite US web site footer.
This deal with belongs to a shell firm incorporation service. Freeway has no bodily enterprise operations within the US.
Neither Ardu Prime, Freeway or any of its hooked up shell firms are registered with the SEC.
In a January eighth advertising and marketing video that includes co-founder Sadie Hutton, she claimed Freeway took in $13.7 million over December 2021.
Hutton and Freeway’s two different co-founders, Mark Kearns and Graham Doggart, signify they’re based mostly out of Malta.
Malta is a scam-friendly jurisdiction with little to no regulation of MLM associated securities fraud.
Neither Ardu Prime, Freeway or its executives signify they’ve registered with the Malta Monetary Companies Authority.
