Nugen Coin supplies no data on its web site about who owns or runs the corporate.

Nugen Coin’s web site area (“nugencoin.com”), was privately registered on November 1st, 2021.

I turned conscious of Nugen Coin following a reader request tying it to Free Mart.

I used to be capable of verify this with a little analysis:

BehindMLM reviewed Free Mart again in 2016. The corporate was co-founded by David Crookston and John Austin (left and proper respectively).

Failing to distinguish between associates and retail prospects, Free Mart primarily operated as a pyramid scheme. Hooked up to the MLM alternative had been kooky merchandise Free Mart attributed unlawful medical claims to.

Having not researched Free Mart since 2016, I found the corporate now goes by “ShopFreeMart”.

ShopFreeMart operates from “shopfreemart.com”, on which no firm possession or government data is supplied. There’s additionally no point out of NugenCoin.

ShopFreeMart failing to acknowledge possession of Nugen Coin and hiding this data from customers is a crimson flag. As is failing to supply ShopFreeMart possession and company data.

Each disclosure failures are potential violations of the FTC Act.

From the Nugen Coin advertising and marketing video screenshot above, we are able to verify John Austin remains to be CEO of ShopFreeMart.

David Crookston left the corporate on dangerous phrases in mid 2016. This prompted Austin to publicly air soiled laundry about him.

In a weird flip of occasions, Austin did this by impersonating yours really on a pretend BehindMLM web site.

As at all times, if an MLM firm isn’t overtly upfront about who’s operating or owns it, suppose lengthy and laborious about becoming a member of and/or handing over any cash.

Nugen Coin’s Merchandise

Nugen Coin has no retailable services or products.

Associates are solely capable of market Nugen Coin affiliate membership itself.

Nugen Coin Compensation Plan

Nugen Coin associates put money into Nugen Coin on the promise of an marketed ROI.

Free Mart are presently promoting Nugen Coin to their associates for ~32.7 cents every.

The minimal Nugen Coin funding quantity is $50.

As soon as invested in, ShopFreeMart locks up Nugen Cash for 18 months. That is accomplished on the promise of a 200% ROI paid each 202 days.

Whereas your cash are staked with NuGen you obtain extra cash 4 occasions per day on the price of .35% making the general return per day .357%.

At that compounding price the variety of cash in your account will double in 202 days.

18 months is 547 days, equating to roughly 2.7 200% ROI 202 day cycles.

A ten% fee is paid on Nugen Cash invested in by personally recruited associates. That’s on high of any MLM commissions earned by way of ShopFreeMart.

ShopFreeMart don’t present compensation particulars on their web site. As such I’m unable to substantiate whether or not the compensation plan has been up to date since 2016.

Becoming a member of Nugen Coin

Nugen Coin affiliate membership seems to be free.

Full participation within the hooked up earnings alternative requires a minimal $50 funding in Nugen Coin.

Nugen Coin Conclusion

Site visitors to ShopFreeMart’s web site is lifeless. Which implies as an MLM enterprise, ShopFreeMart is lifeless.

Nugen Coin seems to be a determined bid to proceed incomes from associates, by getting them into cryptocurrency fraud.

NuGen Coin (image NUGEN) is our flagship coin and may be bought straight from us.

ShopFreeMart fails to supply any technical data on Nugen Coin. Which is odd, seeing as Nugen Coin is marketed as “the brand new customary of banking and commerce”.

ShopFreeMart additionally markets Nugen Coin with the same old “we’re gonna be the subsequent bitcoin” nonsense;

Think about what occurred with Bitcoin. It was first listed and traded at 5 cents per coin, and it’s now over $41,000 per coin.

Now it’s your flip.

This can be a baseless advertising and marketing declare, made for the only real function of encouraging funding into Nugen Coin.

This in flip is completed on the promise of a day by day ROI, which associates earn passively for 18 months.

ShopFreeMart’s Nugen Coin providing is most undoubtedly a securities providing. This requires registration with monetary regulators and submitting of audited monetary experiences.

Of their Finish-Consumer License Settlement, Nugen Coin supplies a company deal with within the US state of Florida. Nugen Coin’s settlement additionally clarifies that

The legal guidelines of US, excluding its conflicts of regulation guidelines, shall govern this Settlement and your use of the Utility.

Securities within the US are regulated by the SEC.

A search of the SEC’s Edgar database reveals neither ShopFreeMart, Free Mart, Nugen Coin or John Austin are registered to supply securities within the US.

Because of this at a minimal Nugen Coin and ShopFreeMart are committing securities fraud.

As for the funding alternative itself, ShopFreeMart associates had been on boarded at 9.6 cents a coin – roughly a 3rd of what Nugen Coin is being flogged for now.

They’ll be the primary to succeed in the 18 month maturity interval, successfully seeing them money out subsequently invested funds.

10% commissions isn’t MLM however I’ve lined Nugen Coin resulting from its ties to ShopFreeMart regardless.

Naturally people who recruit essentially the most buyers will earn the best Nugen Coin commissions.

Withdrawals will happen through Nugen Coin’s deliberate inside alternate;

We’re within the means of opening our personal NUGEN EXCHANGE the place you should buy and promote or maintain for the long run improve within the value of the coin.

NUGEN will likely be listed on the alternate together with different main cash comparable to Bitcoin and lots of others.

NUGEN can even be listed on different exchanges comparable to Binance.

It’s value noting that regardless of Nugen Coin’s web site area being registered seven months in the past, Nugen Coin stays publicly tradeable.

It’s probably that John Austin is saving public buying and selling for the inevitable exit-scam. That can see Nugen Coin dumped on dodgy public exchanges when ShopFreeMart can’t or doesn’t need to pay withdrawal requests any extra.

Cue Nugen Coin affiliate holders panic promoting, the general public buying and selling worth dumping to zero and sorry in your loss.