PetronPay, or what’s left of it, has been added to the SEC’s PAUSE list.

The PAUSE list is maintained by the SEC and

lists entities that falsely claim to be registered, licensed, and/or located in the United States in their solicitation of investors.

PetronPay
launched in 2020 as a 300% “oil barrels” themed Ponzi scheme.

The scam was headed up by Boris CEO “Johnny Grant”:

PetronPay
collapsed
in mid 2021, following initiation of a PETRON token exit-scam.

PetronPay launched on the domain “petronpay.com”. The domain was disabled as part of the Ponzi’s collapse.

On April 14th 2021 the domain “petron-pay.com” was privately registered. This appears to be a poorly put together clone of PetronPay’s original website.

Social media buttons on the PetronPay reboot website point to an unassociated website builder suite.

Investment plans offered on the rebooted PetronPay website mirror the original offering. The attached MLM opportunity is also the same.

In an attempt to appear legitimate, PetronPay’s reboot provides a US corporate address on its website.

This address belongs to PetronCorp, an unrelated manufacturer of speciality lubricants.

It’s unclear whether PetronPay’s original owner is running the rebooted website, or whether it’s just opportunistic scammers.

Personally I suspect PetronPay’s reboot is the work of recovery scammers.

In any event, PetronPay’s reboot has
caught the attention of the SEC
.

In many cases, SEC investigation reveals that the soliciting entities are not registered in the United States as they claim or imply.

In an effort to warn the public about these entities, the SEC is publishing information it has learned in reviewing these complaints.

Other than pretending to operate from there, as far as I know PetronPay has no actual ties to the US.

🤖 Quick Answer

What is PetronPay and why was it added to the SEC's PAUSE list?
PetronPay is a fraudulent investment scheme launched in 2020 as a Ponzi operation offering 300% returns on oil-themed investments. It was added to the SEC's PAUSE list because it falsely claimed registration and US location while soliciting investors. The scheme collapsed in mid-2021 following a token exit-scam.

Who operated PetronPay and what happened to the original domain?
PetronPay was headed by Boris "Johnny Grant" as CEO. The original domain petronpay.com was disabled following the scheme's collapse. Subsequently, a clone website was created on petron-pay.com in April 2021, appearing to be a poorly constructed replica of the original.

🔗 Related Articles

- Massachusetts charge TelexFree as “billion dollar Ponzi”
- Faith Sloan quibbles over securities fraud, owes lawyer $50,000+
- OneCoin “mastermind” Mana Jumuang rearrested in Thailand
- iX Global’s securities fraud climbs to $110 million
- Fintoch securities fraud warning from Singapore