The SEC and Investview have reached a $375,000 settlement on Apex fraud charges.
The $21 million that the SEC claims Apex received is just 1.7% of the civil monetary penalty.
Through Apex, Investview sold unregistered securities, as the SEC claimed.
Investview introduced the Apex Program in July 2019. The Apex Program allegedly used “Apex Packs” to mine bitcoin and do out other technological tasks in order to provide investors with profits that were referred to as “lease payments.”
Investors who bought Apex Program interests signed agreements to purchase Apex Packs from an Investview wholly-owned subsidiary or distributor while also leasing the Apex Packs back to another Investview wholly-owned subsidiary. The latter would then pay the investor, either directly or through a distributor, a lease payment of $300–500 per month for 36–60 months per Apex Pack.
Investors would get passive income from their Apex Program holdings.
Developing the program’s framework was one of the many facets of marketing and selling the Apex Program’s interests that Investview was engaged in.
The equipment was leased to a wholly-owned Investview subsidiary, which was in charge of all expenses, obligations, and operations related to operating and maintaining the machinery that was meant to provide profits for Apex Program participants.
Investview used YouTube videos and a press release that explained the Apex Program and said that it was “available to everyone” in order to conduct a wide solicitation of investors while selling interests in the program.
Distributors who used general solicitation to market and sell Apex Program shares were also recruited by Investview.
Through the sale of shares in the Apex Program, Investview raised almost $21 million from over 500 investors across many states between July 2019 and June 2020.
According to SEC v. W.J. Howey Co., the Apex Program’s interests were marketed and sold as investment contracts, making them securities.
Investview’s Apex settlement forbids further Securities Exchange Act breaches in addition to the $375,000 civil monetary penalty.
Jeremy Roma, who was the director of Investview at the time, created Apex in 2019 (right).
Roma quit Investview after Apex’s demise and started the Daisy AI Ponzi scams.
Roma introduced BioLimitless after the breakdown of the previous version of Daisy AI in December 2023.
With the promise of passive earnings, BioLimitless is presently looking for investors for $5 million clinics.
At the time of publishing, Roma had not been charged, despite the SEC having sued Apex promoters.
This is Investview’s second run-in with US authorities, as shown by the SEC’s Apex complaint. Investview was fined $150,000 by the CFTC in 2018 for engaging in commodities fraud related to Wealth Generators.
Regarding iGenius, Investview’s current principal multilevel marketing product, a possible third US regulatory enforcement action is still underway.
After declining steadily throughout 2024, Be Club is now openly raiding what’s left of iGenius.
Former OneCoin fraudsters operating in Dubai operate Be Club, an unregistered trading opportunity.
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