FinUp: Fourth Mavie Global Ponzi spinoff

FinUp is the fourth spinoff of the Mavie Global Ponzi scheme.

Through FinUp, Mavie Global has jumped on the launched an “ai crypto trading” fraud bandwagon.

FinUp sees Mavie Global pitch investors on passive returns, purportedly derived via AI crypto trading.

Through its AI trading offering, Mavie Global claims FinUp can generate monthly returns of around 16% for investors.

On the money side of things, Mavie Global affiliates purchase FinUp licenses costing between 100 and 30,000 tether (USDT).

The more a Mavie Global affiliate spends, the more they can invest and fee amounts are reduced.

Commissions on fees paid to access FinUp are paid out through
Mavie Global’s MLM opportunity
.

FinUp’s “safe and automated AI trading” purportedly takes place through Binance.

Binance is a cryptocurrency exchange in decline with an uncertain future.

Binance was
sued by the SEC
in June 2023. In its complaint, the SEC cited Binance as “the largest crypto asset trading platform in the world” and alleged its

crypto asset trading platform, Binance.US; and their founder, Changpeng Zhao, [have committed] a variety of securities law violations.

Changpeng Zhao, aka CZ, was
criminally charged with money laundering
in November 2023.

Zhao
pled guilty
in November 2023 and agreed to surrender $4 billion in ill-gotten gains.

Binance’s founder and chief executive officer (CEO), Changpeng Zhao, a Canadian national, also pleaded guilty to failing to maintain an effective anti-money laundering (AML) program, in violation of the BSA and has resigned as CEO of Binance.

Binance became the world’s largest cryptocurrency exchange in part because of the crimes it committed – now it is paying one of the largest corporate penalties in U.S. history,” said Attorney General Merrick B. Garland.

Zhao was
sentenced to four months in prison
earlier this month. The light sentence prompted speculation Zhao provided US authorities with valuable intelligence on accomplices.

Heading up FinUp is Jay Hao, former CEO of the OKX cryptocurrency exchange.

OKX is set up as a shell company in the Bahamas. To avoid prosecution for fraud in the US, OKX purportedly does not allow US residents to sign up to its exchange.

Nonetheless as of February 2024, South Korean authorities are
investigating OKX for securities fraud
.

As to FinUp’s regulatory failings, the offer of passive returns derived via automated trading constitutes a securities offering. Automated trading also requires FinUp to adhere to commodities regulations.

Both FinUp and Mavie Global are not registered to offer securities or act as a commodities broker in any jurisdiction.

Outside of FinUp’s securities and commodities fraud we have “pro education” and “market insights”.

These appear to be shallow attempts at pseudo-compliance. Bundling additional products and services does not legitimize a primarily fraudulent investment offering.

FinUp operates from the website domain “finup.ai”. A visit to FinUp’s website revea

🤖 Quick Answer

What is FinUp in relation to Mavie Global?

How does FinUp's licensing and commission structure work?
Mavie Global affiliates purchase FinUp licenses ranging from 100 to 30,000 USDT, with higher investments reducing fee percentages. Commission fees are distributed through Mavie Global's MLM network, creating a multi-level marketing compensation structure.

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