The state of Michigan has issued Darren Olayan a securities fraud cease and desist pertaining to Mintage Mining.

Michigan’s notice was issued on April 8th, however I only came across it today as part of my research into
Olayan’s $595,000 Utah fine
.

As per
Michigan’s cease and desist
;

The Administrator’s staff conducted an investigation of Respondent’s activities under the Securities Act.

The investigation developed evidence that Mintage Mining, LLC and BC Holdings and Investments, LLC offered and sold unregistered securities to (a) Michigan resident.

Neither Darren Olayan, Mintage Mining or BC Holdings and Investments are registered to offer securities in Michigan, or indeed anywhere in the world.

Consequently, the state of Michigan concluded;

Respondent Darren Olayan materially aided Mintage Mining, LLC and BC Holdings and Investments, LLC to offer and sell unregistered, non-exempt securities, in violation of … the Securities Act.

Olayan was issued with the cease and desist. Unfortunately it doesn’t appear any further action was taken.

Mintage Mining’s website is still up. Following a brief spike in website traffic in mid 2020, investor recruitment appears to have collapsed again.

I say unfortunately because Olayan has had more than his fair share of run-ins with US regulators.

Olayan’s troubles with US regulators began in mid 2018, when Texas issued a
Nui & Mintage Mining securities fraud cease and desist
.

That eventually led to a
paltry $25,000 fine
.

Montana
and Utah (previously referenced), have also taken action against Olayan.

For its part Nui claimed Mintage Mining was
“pre-compliant” with US securities law
.  The company also claimed it had 
“protection with the SEC”
.

Nui affiliates staked the legality of offering unregistered securities
on the law firm Jones Day
.

Of course none of that held up, as evidenced by the regulatory action against Nui and Olayan that followed.

In response to the Texas C&D, Olayan made the bizarre claim that
securities regulation doesn’t exist
.

One would think all this would be enough to trigger a federal SEC investigation, but as of yet nothing has materialized.

The unfortunate sentiment stems from Olayan continuing to commit securities fraud, targeted at non-English speaking investors outside the US.

Since his regulatory run-ins Olayan has gone underground. Outside of dated social media profiles and a personal website, Olayan doesn’t exist.

His communications to
Nui International
investors appears to be through Spanish videos spread through Telegram and other private channels.

As above, a few of these videos eventually make it to more accessible platforms such as YouTube.

Nui International is essentially a continuation of Olayan’s securities fraud. The ruse this time around is the standard “trading bot” rubbish.

Nui International markets a daily ROI of up to 2.5%, with affiliates able to invest up to $100,000 a pop.

A visit to Nui International’s website reveals a 404

🤖 Quick Answer

What cease and desist order did Michigan issue against Darren Olayan?
Michigan issued a securities fraud cease and desist order against Darren Olayan on April 8th regarding Mintage Mining, LLC. The investigation found that Olayan's companies offered and sold unregistered securities to Michigan residents without proper registration, violating state securities regulations.

What companies were involved in the Michigan securities violation?
Mintage Mining, LLC and BC Holdings and Investments, LLC were the entities involved. Neither company, nor Darren Olayan personally, held valid registration to offer securities in Michigan or any other jurisdiction worldwide.

What evidence did Michigan's investigation uncover?
Michigan's investigation revealed that unregistered securities were offered and sold to at least one Michigan resident through Mintage Mining and BC Holdings. The respondent lacked proper licensing and authorization to conduct securities offerings in the state.

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