The collapsed Nugen Universe Ponzi scheme appears to be rising from the ashes under a new name: Britto Capital. And the fingerprints of the original operator are all over it.

Fazil Mohamed Jabar ran Nugen Universe into the ground. Now his LinkedIn profile lists him as CEO of Britto Capital, a company so fresh it barely exists. The domain brittocapital.com was privately registered on October 22nd, 2022—less than three months before Canadian authorities issued a securities fraud warning about Nugen Universe in August 2022.

The website itself screams hastily thrown together. It runs on a generic business template and claims to employ 1,600 staff. For comparison, Nugen Universe was a small operation. The padding is obvious.

Nugen Universe's defunct website contains direct links to Britto Capital. That's not coincidence. That's transition.

What connects Jabar to the new scheme goes deeper than just the website redirects. Corporate records reveal he set up Britto Overseas Holdings as a shell company in the UK in December. Then in August 2023, Florida corporate records show Jabar registered Britto Capital LLC alongside Bibi Larson. The address? The same residential location he used to register Nugen Universe LLC.

The timing matters. The UK's Financial Conduct Authority outright banned MLM cryptocurrency investment schemes on October 8th, 2023. That's a direct shot at the business model Nugen Universe operated under.

There's another wrinkle. Jabar's LinkedIn profile lists his location as Ontario, Canada. But he's known to be based in Florida. The Ontario claim doesn't match any corporate filings or known residences.

What is Britto Capital actually supposed to do? That remains unclear. The website offers no real information about operations, products, or services. It's a shell masquerading as a functioning company.

The pattern is unmistakable: operator of a collapsed Ponzi scheme launches a new entity with nearly identical infrastructure, pulls the old website traffic into the new one, registers shell companies in multiple jurisdictions, and creates a LinkedIn presence to legitimize himself.

Whether regulators move against Britto Capital depends on whether they're watching. Canadian authorities already flagged Nugen Universe. The FCA banned this type of scheme outright. Florida's corporate division has the registration on file. The evidence of Jabar's involvement is sitting in plain sight.

For now, Britto Capital exists in that murky space between concept and operational fraud—not quite shut down, not quite legitimate. But the setup suggests Jabar has tried this playbook before, and he's trying it again.

🤖 Quick Answer

What is the connection between Nugen Universe and Britto Capital?
Britto Capital appears to be a successor entity to the collapsed Nugen Universe Ponzi scheme. Fazil Mohamed Jabar, who operated Nugen Universe, is listed as CEO of Britto Capital. The domain brittocapital.com was registered in October 2022, shortly before Canadian authorities issued fraud warnings about Nugen Universe in August 2022.

What evidence suggests continuity between the two companies?
The Nugen Universe website contains direct links to Britto Capital. Additionally, Britto Capital's website uses generic templates and claims 1,600 employees, contrasting sharply with Nugen Universe's small operational scale, suggesting artificial credibility inflation mimicking the original scheme's patterns.

When was Britto Capital's domain registered?
Britto Capital's domain, brittocapital

🔗 Related Articles

- Massachusetts charge TelexFree as “billion dollar Ponzi”
- Charles Scoville fancies himself as the next Mark Cuban
- USFIA Receiver recovers $20.4 million
- Dissecting a JubiRev “we are not a Ponzi” webinar
- QNet a threat to Indian national security, govt corruption exposed