LSSC Securities Fraud Warning Issued by New Brunswick Regulators
On June 24, 2025, the Financial and Consumer Services Commission of New Brunswick (FCNB) issued a securities fraud warning against Lightning Scooter Shared Company (LSSC), declaring it unregistered to deal or advise on securities in New Brunswick, as reported by BehindMLM. Offering unregistered securities violates Canada’s financial laws. LSSC, operating as a “click a button” app Ponzi scheme, falsely claims to generate revenue through a scooter leasing model, requiring users to invest a minimum of 960 USDT and click a button daily to earn purported profits (1.6-2.3% daily ROI). The FCNB highlighted LSSC’s lack of registration and deceptive practices, targeting vulnerable groups like African and Caribbean immigrants in Canada and the U.S., often through trusted community members.
Multiple Aliases and Domains
LSSC operates under various aliases, including Lighting Shared Scooter Limited, LSSC Canada Inc., LSC Edmonton Ltd., LSSC Marketing Inc., and LSSC Expansion #1 Inc., with at least 11 associated domains (e.g., thelssc.com, lssc.ltd, lsscapp.com). BehindMLM’s May 2025 review noted four additional domains, suggesting a network of sites run by Chinese scammers based in Southeast Asia. These entities use multiple names and domains to evade detection, a common tactic in “click a button” Ponzi schemes, which collapse within weeks to months, locking investor accounts and vanishing without notice.
Multi-Province Regulatory Action
In addition to New Brunswick, the British Columbia Securities Commission (BCSC) (June 23, 2025) and Alberta Securities Commission (ASC) (June 19, 2025) issued fraud warnings, confirming LSSC’s unregistered status and Ponzi structure. The BCSC described LSSC as offering fake investment opportunities via apps promising daily returns for button-clicking, with no evidence of scooter-related operations. The ASC emphasized the absence of investor protections for unregistered firms. X posts by @realjessesingh (July 1-5, 2025) and @bertin2022 (July 1, 2025) amplified these warnings, noting LSSC’s targeting of vulnerable communities and unrealistic 2% daily compounding interest claims, debunked as mathematically impossible.
Future Risks and Investor Action
LSSC fits a pattern of Chinese-run “click a button” Ponzi schemes (e.g., HertzCar, SMD, Aifeex), linked to scam factories in Cambodia and Myanmar, as evidenced by U.S. Treasury sanctions against figures like Ly Yong Phat and Saw Chit Thu in 2024-2025. These schemes collapse when new investor funds dry up, often followed by recovery scams demanding additional fees. Investors are urged to report to the FCNB via the National Registration Search tool or Submit a Complaint form, verify firm legitimacy, and avoid USDT-based investments promising high returns. With $310 million in Canadian investment fraud losses in 2024 (90-95% unreported), vigilance is critical. The FCNB’s oversight of $50 billion in consumer funds underscores the need to avoid unregistered entities like LSSC.