The Utah Division of Securities has fined Divvee Social and Darren Olayan $595,000 as part of a securities fraud settlement.

The Utah Div Sec litigation pertains to Divvee Social. This stems from Olayan’s original
Divvee pyramid scheme
, which was
rebranded as Nui Social
in November 2017.

It’s assumed “Divvee Social” is a shell company, one of many Olayan (right) runs his various scams through, as Divvee proper never offered securities. At least not publicly.

The $595,000 fine imposed on Olayan consists of $545,000 in restitution and a $50,000 monetary penalty.

The settlement was
unanimously approved
by the Utah Division of Securities in March, 2020.

As per records dug up by BehindMLM reader GlimDropper, who gets full credit for doing the legwork research, Utah began investigating Olayan in July 2019.

Since running up against US regulators, Olayan has gone underground. He is currently busy targeting non-English speaking victims for his Nui International Ponzi scheme.

Nui Social’s parent shell company Appliqate
abandoned the opportunity
earlier this year.

For all intents and purposes, the only remaining active component of Olayan’s fraudulent business operations is Nui International.

More to come.

Update 16th December 2020 – 
I’ve explored the current Nui International situation in our coverage of
Darren Olayan’s Michigan securities fraud cease and desist
.

🤖 Quick Answer

Who is Darren Olayan and what was he fined for?
Darren Olayan is a promoter fined $595,000 by the Utah Division of Securities for securities fraud involving Divvee Social, a company connected to his original Divvee pyramid scheme later rebranded as Nui Social in 2017. The fine comprised $545,000 restitution and $50,000 penalty, approved March 2020.

What is the connection between Divvee Social and Nui Social?
Nui Social is the rebranded version of Olayan's original Divvee pyramid scheme, rebranded in November 2017. Divvee Social is considered a shell company through which Olayan operated various schemes, though Divvee proper never publicly offered securities.

**What was the composition of the $595,000 settlement?

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