Lquid Finance, dba LquidPay, has received a fraud warning from New Zealand’s Financial Markets Authority (FMA).

As per the
FMA’s May 2nd, 2025 Lquid Pay warning
;

Lquid Pay claims to offer cryptocurrency payment cards in New Zealand, but it is not registered to provide this service in New Zealand.

Lquid Pay has claimed on social media that:

it is fully compliant with New Zealand’s laws, and

it holds a registered New Zealand trademark.

Lquid Pay is not authorised to provide financial services in New Zealand, and we do not believe it holds any New Zealand trademark.

The FMA further states that it “requested Lquid Pay to provide explanation and evidence to substantiate their claims” but received no response. Consequently, the FMA “suspect[s] that claims made are false and misleading.”

Lquid Finance and LquidPay are run by Indian national Shavez Ahmed Siddiqui, aka Shavez Anwar.

LquidPay has an app listed on the Google Play Store, purportedly developed by “Marida Limited”. Marida Limited provides a LquidPay website support email address, but cites a corporate address in Hong Kong.

Siddiqui, a serial fraudster
hiding in Dubai
, was a central figure in Sam Lee’s collapsed
HyperFund
Ponzi scheme.

After HyperFund collapsed, Lee and Siddiqui continued to defraud consumers through
HyperOne
(Siddiqui was HyperOne’s “Operation Head of Asia Pacific”).

After HyperOne Lee and Siddiqui teamed up on
StableDAO
, essentially HyperTech Group 2.0 (HyperTech was the parent company of Lee’s HyperCapital and HyperFund Ponzis).

Through StableDAO Lee launched
StableOpinion
, 
VidiLook
 (rebooted as ViviLook 2.0 and then again as VEND), 
WeAreAllSatoshi
, Satoshi Math Club and 
Boomerang Trade
 (aka Boomerang Arbitrage Trading).

At some point Lee had a falling out with Siddiqui, prompting Siddiqui to take over
We Are All Satoshi
(WAAS) as his own Ponzi project.

Following multiple failed WAAS reboots, Siddiqui launched Lquid Finance and Lquid Pay.

BehindMLM never formally reviewed Lquid Pay but as per
research by Danny de Hek
, the scheme sold debit cards tied to Visa’s network.

Commissions were purportedly paid on affiliate recruit, residual commissions and funneling investors into other BTCC token scams.

Separately, BehindMLM can reveal we received a “final legal complaint” from someone claiming to be Shavez Ahmed Siddiqui on June 9th.

I am Shavez Ahmed Siddiqui, CEO of Lquidpay Deobank, and I am reaching out with utmost urgency regarding several defamatory and misleading articles published on your platform that mention my name, associated ventures, and content falsely linking me to fraudulent activities and individuals.

The articles listed below either directly or indirectly damage my personal and professional reputation by associating me with projects or persons (such as Sam Lee, Danny de Hek, Hyperfund, and others) with whom I have no legal, operational, or financial association.

These reports were published without any prior verificatio

🤖 Quick Answer

What is the Lquid Finance (LquidPay) fraud warning from New Zealand?
New Zealand's Financial Markets Authority (FMA) issued a fraud warning against Lquid Finance, operating as LquidPay, on May 2, 2025. The company claims to offer cryptocurrency payment cards in New Zealand but is not registered or authorised to provide financial services in the country.

Why did the FMA flag LquidPay as suspicious?
LquidPay claimed on social media to be fully compliant with New Zealand laws and to hold a registered New Zealand trademark. The FMA found no evidence supporting either claim and suspects the statements are false and misleading, prompting the formal public warning.

Did LquidPay respond to the FMA's inquiry?
No. The FMA stated it requested LquidPay to provide explanation and evidence substantiating its compliance

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