Iqonic has received a securities fraud notice from Czechia’s Czech National Bank (CNB).
As per
CNB’s March 31st Iqonic notice
;
At the time of publication of this notice, [Iqonic does] not have any authorization granted by the CNB.
Among other things, the CNB regulates securities in Czechia. Offering unregistered securities violates Czechia’s financial laws and falls under CNB’s jurisdiction.
Iqonic is a reboot of
Eaconomy
, a thrice collapsed MLM trading ruse scheme. Eaconomy’s third reboot collapsed in early 2025, prompting owner Hassan Mahmoud to
reboot as Iqonic
in March 2025.
Through its “IQ Auto” offering, Iqonic pitches consumers on passive returns through automated trading:
In addition to Mahmoud, Iqonic was initially fronted by President Edwin Haynes and VP Of Business Development Jarrod Wilkins.
Iqonic’s app developer is MLM Protec LLC, a
Delaware shell company owned by Josh Zwagil
.
Today there’s no mention of ownership or executive details on Iqonic’s website.
Through a filed lawsuit, in November 2025 it emerged Mahmoud had teamed up with Brian McMullen (right) to launch Iqonic.
McMullen’s lawsuit accused Mahmoud of ditching Iqonic to launch Noa, and raiding Iqonic in the process.
As of March 2026, the outcome of McMullen’s lawsuit against Mahmoud remains pending. A trial date has been scheduled for September 1st, 2026.
After Mahmoud, Haynes (and presumably Wilkins) ditched Iqonic, McMullen fronted the company with Manny Quinones, Sarah Verbeek, Calvin Becerra and Jay Bonham.
Iqonic operates from the website domain “iqonic.life”. As of February 2026, SimilarWeb was tracking ~151,000 monthly Iqonic website visits.
Top sources of Iqonic website traffic over the same period were the US (66%), Japan (15%), Poland (10%), Peru (6%) and Canada (3%).
Iqonic is not registered to offer securities in any jurisdiction.
In addition to passive returns through automated trading, Iqonic also offers trading training, advice and signals pertaining to various commodities.
Specific to the US, which accounts for the majority of Iqonic’s website traffic, Iqonic is not registered with the CFTC as a Commodity Trading Advisor.
🤖 Quick Answer
What is the Iqonic securities fraud notice from Czechia?The Czech National Bank (CNB) issued a securities fraud notice regarding Iqonic on March 31st, stating that Iqonic does not hold any authorization granted by the CNB. The CNB regulates securities in Czechia, and offering unregistered securities violates the country's financial laws, falling under CNB's regulatory jurisdiction.
What is Iqonic's connection to Eaconomy?
Iqonic is identified as a reboot of Eaconomy, a multilevel marketing trading scheme that collapsed three times. Following Eaconomy's third collapse in early 2025, owner Hassan Mahmoud relaunched the operation under the Iqonic brand in March 2025, continuing similar business activities under new branding.
**What does Iqonic offer through its IQ Auto
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Hassan Mahmoud
Josh Zwagil