AladdinBOT has obtained a securities fraud desist and chorus order from California’s Division of Monetary Safety and Innovation (DFPI).
DFPI’s August twentieth, 2024 order cites the next respondents:
- AladdinBot Restricted
- the web site area “aladdinbot.ai”
- the web site area “aladdinbot.io
- the web site area “aladdinbot.internet”
- Mark Ian Davis and
- Denise Skeels
As per the DFPI’s AladdinBOT fraud order;
Starting at the least as early as 2023, AladdinBot supplied and bought securities within the type of funding contracts in California by means of common solicitations on its web site. AladdinBot referred to those funding contracts as “Bots.”
AladdinBot facilitated investor deposits and withdrawals utilizing crypto belongings.
As a part of its solicitation efforts, AladdinBot used a pyramid scheme construction that may reward traders for inducing others to ship cash to AladdinBot.
The Bots supplied by AladdinBot have been securities that have been neither certified nor exempt from the qualification requirement below the CSL.
The Division has not issued a allow or different type of qualification authorizing AladdinBot to promote these securities in California.
Pursuant to Companies Code part 25532, AladdinBot Restricted, Mark Ian Davis, and Denise Skeels are hereby ordered to desist and chorus from the additional supply or sale of securities in California, together with however not restricted to funding contracts often called Bots, except and till the qualification necessities of the CSL have been met.
DFPI additionally revealed an accompanying AladdinBOT fraud consciousness video on its official YouTube channel.
AladdinBOT was an MLM crypto Ponzi that launched in late 2023. The rip-off was fronted by Mark Ian Davis and Denise Skeels.
Each Davis (Australia) and Skeels (UK) are serial Ponzi scammers.
BehindMLM first got here throughout Davis in AI Commerce Ponzi advertising movies, circa 2018.
Davis labored in AI Commerce with RV Palafox. The pair would go on to launch PGI International in 2020.
PGI International was an MLM an MLM crypto Ponzi scheme pitching 200% returns. It’s collapse in 2021 is believed to have resulted in hundreds of thousands of {dollars} in shopper losses.
In August a BehindMLM reader reached out by way of e mail to report Davis had been arrested in Brisbane, Queensland.
Accessing Australian legal case particulars for lively instances doesn’t seem like potential.
Nonetheless, the Brisbane Courier has tagged Davis as first showing earlier than the Brisbane Magistrates Court docket on December eleventh, 2023.
All through 2024 Davis made extra appearances earlier than the court docket on March 4th, July eighth and September ninth.
Davis was conspicuously absent from social media between September 1st and twenty first. This coincides along with his September ninth court docket look.
Civil court docket data could be looked for the Brisbane Magistrates Court docket however nothing comes up for Davis. This does counsel Davis’ appearances relate to a legal case.
That stated, the character of any legal costs filed in opposition to Davis stay unclear.
Denise Skeels isn’t identified to BehindMLM however labored as AladdinBOT’s CMO:
Not surprisingly, Skeels is a former high promoter of PGI International (aka Praetorian Group Worldwide):
Davis and Skeels being tied to PGI International and them teaming as much as defraud customers once more by means of AladdinBOT is unlikely to be a coincidence.
AladdinBot went on to break down in February 2024, as soon as once more making Davis and Skeels accountable for widespread shopper losses.
Primarily based on web site visitors evaluation by SimilarWeb on the time of collapse, the vast majority of AladdinBOT victims are believed to have been from the US and Hungary.
