Despite the Australian Securities and Investment Commission (ASIC) issuing two fraud warnings, a group of die-hard investors continue to promote Auratus and Billionico.

Today we take a look at how Australian investors are violating ASIC’s Auratus and Billionico fraud warnings.

Most of the Australian Auratus and Billionico promoters are leftovers from the
collapsed GSPartners fraudulent investment scheme
.

GSPartners was tied to parent company Gold Standard Corporation AG, or GSB.
Auratus
and
Billionico
are GSB adjacent, with the
same people involved at the top
.

ASIC issued a
GSPartners fraud warning
in November 2023. This was followed by an
Auratus fraud warning
in August 2024. ASIC issued a second third
“digital gold vaults” warning
in September 2024, pertaining to Auratus’
since collapsed “gold in a vault” marketing ruse
.

Our source material is from “The Legacy Project”, a group of Australian Auratus and Billionico promoters led by Kirsten Duggan, Jessica Catherine
Schembri (aka Jessica Sol)
, Lorien Cameron and Nyoni Holm.

At time of publication, The Legacy Project’s private FaceBook group numbers 369 members.

The Legacy Project’s marketing material claims, again in spite of ASIC’s multiple fraud warnings, that there are “many methods” to invest into Auratus and Billionico.

The recommended method however is “Pay It Now” (PIN).

The Legacy Project instructs newly recruited investors to obtain PIN’s app via the Google Play or Apple app stores.

Recruits are then told to complete PIN’s KYC process, which includes bank account verification.

Once set up, recruits are instructed to keep transactions below $9000 AUD or NZD to “avoid issues”.

To deceive Australian banks, The Legacy Project instructs new recruits;

Never put “gold”, “crypto” or anything other than the reference code mentioned in your bank transfer description.

Once funds have been transferred from Australian banks to PIN, possibly in violation of Australian finance law, recruits must “gather [a] deposit address” from Billionico or Auratus.

Withdrawing sees recruits transfer from Billionico or Auratus to PIN, who then transfer funds to local Australian bank accounts, again in possible violation of Australian finance law.

In their marketing guide The Legacy Project provides financial licensing details for PIN.

This includes an

Australian Company Number (ACN);

Financial Services Provider number for New Zealand (FSD, although I think that’s supposed to be FSP); and

AUSTRAC registration number

A visit to PIN’s website (“payitnow.io”), reveals an additional Legal Entity Identifier number (LEI code):

A LEI code is required in Australia when a company participates in certain trading markets (OTC, commodities, CFDs, securities and self-managed superannuation funds).

Co-founders Craig Duffield and Jitendra Maharaj launched Pay It Now in New Zealand in 2021. The company has ties to the US through PIN USA and Director Trenton Stanley.

Why PIN would risk its fin

🤖 Quick Answer

How are Australian promoters violating ASIC's Auratus fraud warnings?
Despite ASIC issuing fraud warnings against Auratus and Billionico in August and September 2024, a network of Australian investors—largely former promoters of the collapsed GSPartners scheme—continues to actively market these entities. GSPartners, Auratus, and Billionico share ties to Gold Standard Corporation AG (GSB), with overlapping leadership at the top level.

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