Uulala & Batched reboot collapses, SEC investigation confirmed

Both Uulala and its Batched reboot have collapsed.

Affiliate investors can’t log in, meaning withdrawals are effectively disabled.

There’s a bit of unreported history we need to catch up on with Uulala, so let’s recap with a brief rundown of how we got here.

Uulala launched in 2017 as a crypto scam built around UULA and EUULA tokens.

In August 2021 the SEC
filed suit against Uulala and co-founders Oscar Garcia (right) and Matthew Loughran
.

Uulala, Garcia, and Loughran made materially false and misleading statements to investors throughout their offering of UULA about having “patent pending” technology that had been incorporated into their app and having a proprietary algorithm to assign credit scores to users of their app.

Uulala, Garcia and Loughran settled the lawsuit and paid respective civil penalties of $300,000, $192,768 and $50,000.

Rather than cease committing securities fraud, Garcia doubled down and relaunched Uulala as a “validation node” Ponzi scheme.

Uulala validation node investment positions cost $1100. Affiliates had to log in daily and click a button to generate points.

These points were locked up in Uulala until they decided to let affiliates cash out (subsequently invested funds).

BehindMLM published its
Uulala review
in October 2021. By the end of 2021 Uulala’s website had been abandoned.

Uulala’s “validation node” Ponzi scheme had been merged into Batched, although Batched’s website wouldn’t reflect this until early to mid 2022.

Prior to the merger, Batched was a payment processor Garcia has been running for years.

Uulala’s continuation through Batched seems to indicate while the pyramid side of the business was paying out, node points, for the most part, remained locked up in the system.

In a
June 2022 YouTube video
, Jeremy from Flip My BTC provides insight into how Batched was doing mid last year:

Right now the only people making money in this program are people that are referring others.

I have 40,000 points in here. That means I’ve been going in here, clicking the start button, doing everything that I’m supposed to be doing, and I still haven’t made any money.

If you want to see how much money I’ve actually made, here it is … I’ve made $4 since I joined in 2021.

I have two nodes, I paid $1800 for them total.

Comments left on Flip My BTC’s video reveal investors complaining about not being able to withdraw since 2021.

On January 19th BehindMLM reader Ray revealed things have since
further deteriorated
with Batched.

As of January 2022 (confirmed typo, supposed to read 2023), many that purchased Nodes with Batched (formerly known as Uulala) are unable to log on and click “start” to run their node and generate points because the 2-Factor verification won’t work.

You never receive the email with the code so you can’t log in to click “start.”

Also, there was a telegram group ran by Oscar right hand person (Kathy), and everyone could post and reply, but about a week ago, she suddenly blocked everyo

🤖 Quick Answer

What happened to Uulala and its Batched reboot?

Why did the SEC take legal action against Uulala?
The SEC filed suit in August 2021 against Uulala and co-founders Oscar Garcia and Matthew Loughran for making materially false and misleading statements regarding "patent pending" technology and proprietary credit-scoring algorithms incorporated in their platform.

What were the main allegations against Uulala's founders?
Garcia and Loughran made fraudulent claims about possessing proprietary technology and credit-scoring algorithms to mislead investors during the UULA token offering. These false representations constituted securities fraud under federal regulations.

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