Nugen Coin Review: Free Mart Gets Into Crypto Fraud
A company with no public ownership structure is pushing a cryptocurrency investment scheme that promises to double your money in 202 days.
Nugen Coin's website reveals nothing about who runs the operation. The domain registered on November 1st, 2021 with private registration. Behind it sits Free Mart—or ShopFreeMart, as the company rebranded itself—a multilevel marketing operation that's been operating since at least 2016.
Free Mart was co-founded by David Crookston and John Austin. In 2016, reviewers flagged the company for functioning as a pyramid scheme, failing to distinguish between actual retail customers and affiliate distributors. The company also hawked dubious products with illegal medical claims attached.
John Austin remains CEO of ShopFreeMart. Crookston left on bad terms mid-2016, prompting Austin to respond by creating a fake website impersonating a journalist who had written about the company's problems.
Now ShopFreeMart won't acknowledge owning Nugen Coin. The ShopFreeMart website provides no corporate leadership information and makes no mention of the cryptocurrency venture. These omissions violate FTC disclosure requirements.
The mechanics are straightforward. ShopFreeMart sells Nugen Coins to affiliates for approximately 32.7 cents each, with a $50 minimum investment. Once you hand over the money, the company locks your coins for 18 months. During that period, you earn additional coins four times daily at a rate of 0.35%, generating a promised 200% return every 202 days.
The math works out to roughly 2.7 cycles of those promised returns over the 18-month lockup period. Affiliates who recruit others into buying Nugen Coins pocket a 10% commission on top of any commissions from ShopFreeMart's main MLM structure.
Nugen Coin has no actual product or service beyond affiliate membership itself. There's nothing to sell to real customers. Affiliates only make money by recruiting other affiliates and pushing them to invest the minimum $50.
ShopFreeMart won't publish compensation details on their website, making it impossible to verify whether anything has changed since 2016. Joining as an affiliate appears free, but actual participation requires that $50 minimum investment in coins.
This is a textbook setup: a company hiding its ownership, a cryptocurrency that promises implausible returns, money locked up for 18 months, commissions paid for recruitment rather than retail sales, and no legitimate product behind any of it.
If an MLM won't tell you who's running it, don't give them your money.
🤖 Quick Answer
What is Nugen Coin and its connection to Free Mart?Nugen Coin is a cryptocurrency investment scheme promoted by Free Mart (ShopFreeMart), a multilevel marketing company founded by David Crookston and John Austin. The scheme promises to double investments within 202 days. The domain was registered in November 2021 with private registration, concealing the operation's ownership structure and management details.
What regulatory issues has Free Mart faced historically?
Free Mart has been flagged since 2016 for operating as a pyramid scheme, failing to distinguish between genuine retail customers and affiliate distributors. The company marketed products with unsubstantiated medical claims. These practices suggest patterns of fraudulent activity spanning multiple years and business ventures.
Why is Nugen Coin considered problematic?
Nugen Coin presents significant red flags: anonymous ownership, unrealistic return promises, association
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