Uulala operates in the cryptocurrency MLM niche. The company is based out of California in the US.

Heading up Uulala is CEO Oscar Garcia, a resident of California.

As per Garcia’s LinkedIn profile;

For the past 20 years as an entrepreneur, Mr. Garcia has built companies, and accelerated the growth of small businesses.

Mr. Garcia has over 20 years in technology and web development.

Circa 2014 Garcia held the Executive Vice President position at the
Lucrazon Global
Ponzi scheme.

Prior to Lucrazon Global, Garcia was a Melaleuca affiliate.

In January 2014 Garcia was a
named defendant in a lawsuit filed by Melaleuca
.

In the suit filed last week in U.S. District Court in Pocatello, Melaleuca is alleging that one of its former “marketing executives,” Oscar Garcia, now a vice president with Lucrazon Global, a network marketing e-commerce company based in Irvine, Calif., is pitching his newest business to current and former Melaleuca marketing executives.

“Lucrazon seeks to swell the ranks of its brand partners by raiding Melaleuca’s marketing executives,” the suit alleges.

In October 2016 Garcia settled with Melaleuca. A $5000 judgment was entered against him.

Lucrazon Global collapsed by the end of 2014. As revealed in a civil lawsuit filed in 2016, Lucrazon Global
targeted elderly victims
and fleeced them out of millions.

After Lucrazon Global Garcia reinvented himself as a crypto bro. This brings us to Uulala’s launch in 2017.

Uualala’s original business model saw the company sell UULA and EUULA tokens.

The company’s ICO raised over $9 million dollars.

In August 2021 the SEC announced a
civil complaint against Uulala, Garcia and co-founder Matthew Loughran
.

From December 2017 through January 2019, Uulala sold UULA tokens, which were allegedly to be used to record transactions in a financial application (“app”) that Uulala was developing and promoting to those without access to traditional banking services.

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.

Uulala, Garcia and Loughran respectively paid civil penalties of $300,000, $192,768 and $50,000.

If you’re wondering why those amounts are tiny compared to the $9 million raised, Ualala claims;

The revenue generated from the ICO was put back into the company to continue to enhance our technology, to pay our employees, our operating expenses and to help sustain us during the first three years of our business.

Today there is no mention of Matthew Loughran on Uulala’s website. The SEC’s complaint states Loughran stood down as Uulala’s Chief Marketing Officer shortly before it was filed.

Whether Loughran is still involved with Uulala is unclear.

Despite its initial UULA and EUULA token sche

🤖 Quick Answer

Who is Oscar Garcia and what is his background in the cryptocurrency industry?
Oscar Garcia is the CEO of Uulala, a cryptocurrency MLM company based in California. With over 20 years in technology and web development, Garcia has held executive positions in multiple companies. His professional history includes roles at Lucrazon Global and Melaleuca, both companies involved in legal disputes related to fraudulent business practices and MLM schemes.

What legal issues has Oscar Garcia faced in his professional history?
Garcia was named as a defendant in a January 2014 lawsuit filed by Melaleuca in U.S. District Court in Pocatello. The suit alleged that Garcia, while serving as a marketing executive and vice president at Melaleuca, engaged in unauthorized activities. Prior to this, Garcia held the position of Executive Vice President at Lucrazon Global, a company later identified as operating a Ponzi scheme structure.

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