The Norwegian Playing Authority has issued a pyramid scheme fraud alert for Daxio (Lottstift).
On Could 20, Lottstift warned “Daxio Norge” in a letter a few potential fraud involving the Daxio firm. Daxio’s chief government officer is called Frode Jorgensen.
Lottstift mentions a earlier dialogue with Jorgensen in 2019 over International Recreation Enviornment (GGA).
Fashioned by Jorgensen in 2019, GGA was a Ponzi scheme.
In the course of the yr 2020, after GGA had collapsed 3 times, Jorgensen relaunched it as Daxio. After ascertaining that Daxio is “a continuation of International Recreation Arene Ltd.”, Lottstift writes to Daxio to tell them of “data for everybody concerned within the enterprise regarding the guidelines governing pyramid schemes.”
Lottstify, in response to the letter, has began wanting into Daxio. Compliance with the Norwegian Lottery Act is policed by the Norwegian Lotteries Authority.
It’s unlawful to plan, run, participate in, or unfold any type of pyramid scheme. The Lottery Act explicitly states the foregoing. Direct gross sales fashions the place greater than half of the income originates from membership charges and the like are prohibited underneath the Lottery Act as a result of they resemble pyramid schemes.
That’s to say, to ensure that the enterprise to keep away from being thought-about a pyramid scheme, a minimum of half of its income should come from the sale of tangible items and companies.
The corporate doesn’t provide any gadgets or companies that may be bought to most people.
The Norwegian Lotteries Authority suspects a multi-tiered pyramid scheme during which people advance within the agency by luring others to affix at decrease ranges. Individuals dwelling in Norway are recruited into the corporate, and we have now documented that there have been informational seminars geared in the direction of Norwegians.
Primarily based on the knowledge at hand, we imagine the corporate to be a pyramid scheme. You entice prospects by promising them massive returns on dangerous investments that they need to purchase from you. Our advice is that you don’t take part in any pyramid schemes, funding fraud, or different schemes of an analogous nature.
The proof means that Daxio additionally mediates unlawful playing in Norway. The Lottery Act and the Playing Act forbid providing, promoting, or mediating (together with the mediation of cost) any type of playing that isn’t regulated in Norway. You might be hereby requested to distribute this letter to all events concerned within the firm’s operations in Norway.
Daxio is urged to “instantly droop” operations in Norway, Lottstift continues.
Daxio is a entrance for a British Virgin Islands-based shell company.
Any Multi-Degree Advertising and marketing group claiming to have any type of connection to the British Virgin Islands (BVI) ought to immediately elevate crimson flags.
Each “daxio.com” and “mydaxio.com” are lively and belong to Daxio.
In keeping with SimilarWeb, the previous three months have proven a gradual fall in site visitors to each websites. As far as we are able to inform, Daxio’s recruitment efforts in Norway have been fairly minor. The highest three international locations from which guests to “daxio.com” originate are Malta (36%), Vietnam (30%), and Sweden (10%). international locations sending guests to “Mydaxio.com” embrace Sweden (45%), Hungary (18%), and Moldova (5%).
Norway-born Frode Jorgensen at present resides in Bangkok, Thailand.