iGenius Fraud: Investview Settles with Ontario & Quebec
On July 11, 2025, Investview disclosed settlements with the Ontario Securities Commission (OSC) and Quebec’s Autorité des marchés financiers (AMF) over iGenius securities fraud allegations, per its 2024 10-K SEC filing. The OSC questioned iGenius’ sale of ndau as an unregistered investment contract and third-party trading platforms. Investview, denying wrongdoing, implemented a geoblock in Ontario to restrict access to disputed products, avoiding costly litigation.
In Quebec, the AMF cited “inappropriate” marketing by a distributor, whom Investview terminated, and raised concerns about robotic trading platforms. A tentative AMF settlement includes a CAD 15,000 fine and a Quebec geoblock, pending approval, with a hearing set for August 21, 2025.
Regulatory Scrutiny and Context
iGenius, formerly Kuvera Global, has faced regulatory issues since a 2018 CFTC fine for commodities fraud. The SEC’s ongoing investigation into iGenius, disclosed in 2021, targets its passive investment offerings like ndau and CryptoElite. A recent pyramid fraud warning from Poland’s UOKiK adds to scrutiny. Investview’s 2024 revenue from iGenius was $4.6 million, but its MLM model and unregistered securities raise red flags. X posts highlight ongoing fraud concerns, noting iGenius’ CoinRule partnership for “automated trading” as a potential securities violation.
Investor Impact and Risks
The settlements aim to curb iGenius’ operations in Canada, but investors face risks from unfulfilled ROI promises and a lack of regulatory oversight. The geoblocks may prevent new victims, but existing investors may struggle to recover funds. Poland’s warning suggests broader regulatory action may follow, potentially impacting Investview’s operations.
Stay Informed
Investors should monitor SEC filings and the August 21 AMF hearing for updates. The iGenius fraud saga underscores the need for due diligence in MLM crypto schemes, especially with unregistered securities.