Upon learning she was under investigation for fraud back in 2021, Shelly Cullen quipped;

Fuck the consequences, I ain’t scared.

I jump from scam to scam because I can. What’s the consequences? [A] $600,000 slap on the hand.

Following a
conviction
back in January, the North Shore District Court has sentenced Cullen to a $5.9 million NZD judgment (~$3.6 million USD).

Turns out while Cullen (right) factored in the maximum penalty as a fine for breaching New Zealand’s Fair Trading Act, she failed to consider disgorgement.

As
reported by The New Zealand Herald
earlier today;

Judge Anna Skellern sentenced [Cullen] in her absence to a fine of $600,000 split across the five charges — $110,000 each.

She also ordered an additional penalty under section 40A of the Fair Trading Act 1986 of $5,328,849, representing the court’s estimate of how much Cullen had made from her schemes.

Unfortunately there is no criminal jurisdiction within the Fair Trading Act.

The NZ Commerce Commission charged Cullen for breaches of the Fair Trading Act, following an investigation into her promotion of Lion’s Share.

Lion’s Share
was an MLM crypto Ponzi run by US resident James Ward. Cullen was a top promoter of the scam, specifically targeting New Zealand residents and Pacific Islanders.

While she talks a tough talk online, upon learning of the NZCC’s investigation Cullen fled to Cyprus.

Cullen is believed to be still be living in Cyprus, living off funds stolen through fraud.

Cullen’s current scams are
Mavie Global
and
CashFlow NFT
(aka Miracle Cash & More).

To that end New Zealand’s Financial Markets Authority issued a
securities fraud warning
earlier this week, citing Cullen’s promotion of the two Ponzi schemes.

Ms. Cullen is known to target different communities in New Zealand, promoting various cryptocurrency and financial-related products and services, none of which appear to be regulated either in New Zealand or overseas.

At time of publication Cullen has not publicly responded to her $5.9 million sentencing.

🤖 Quick Answer

Who is Shelly Cullen and what was she convicted of?
Shelly Cullen is a New Zealand fraudster convicted in January for breaching the Fair Trading Act. She operated multiple scams and was sentenced by North Shore District Court to a $5.9 million NZD judgment, comprising a $600,000 fine and additional penalties including disgorgement of illegal profits.

What was Cullen's attitude toward the investigation?
Upon learning of the fraud investigation in 2021, Cullen displayed contempt for legal consequences, claiming she could move between scams without significant repercussions. She had initially anticipated only a $600,000 penalty, underestimating the court's sentencing scope.

What penalties did the court impose on Cullen?
Judge Anna Skellern sentenced Cullen to a $600,000 fine distributed across five charges at $110

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