Nui’s “Nui International” Ponzi scheme is particularly popular in Brazil.
As I write this Alexa estimates 44% of traffic to Nui International’s website originates from Brazil.
Not everyone is on board though.
Last October the YouTube channel “Reis das Financas” published a general alert on Nui Social. A followup video was published back in February.
Nui’s Brazilian arm didn’t appreciate the videos, and took Google to court in an attempt to get them removed.
Both of Reis da Financas’ videos put forth that Nui was a pyramid scheme.
Nui is represented in Brazil by Marcato Marketing LTDA. The company’s lawsuit sought removal of Reis da Financas’ videos an and injunction.
If granted, that would prohibit Reis da Financas from publishing any more videos on Nui. Nui also sought to compel YouTube to hand over ownership details of the Reis da Financas account.
According to a report from the Brazilian publication LiveCoins, Nui’s lawsuit was filed against Google Brazil, YouTube’s local parent company.
The lawsuit reached the São Paulo court asking for compensation for image rights. In this case, Marcato Marketing sued Google Brazil, asking that the YouTube channel “Rei das Finanças” had removed the videos citing NUI Social.
The complaint came up for hearing and was denied.
In judging the case, the judge said that when analyzing the content of the videos he did not detect any problems.
The judge stated that “Analyzing the two videos in question, I did not verify the presence of elements of an eminently slanderous nature or that go beyond the scope of mere criticism, in order to unequivocally offend the author’s honor ”.
At another point, the judge warned that untying the videos could be censorship .
That is, in this process, there would be no urgent protection to remove the videos, a request that was denied.
LiveCoins reached out to both Rei Das Financas and Nui for comment but received no reply.
Through Nui International Nui, a Utah based company, runs a fraudulent investment scheme targeting non-US residents.
Nui is not registered to offer securities in Brazil. Yet despite being its largest source of new investment, to date Brazilian authorities have taken no action against the company.
In the US Nui has been subject to two securities fraud investigations. One in Texas and more recently Montana.
Whether the SEC is investigating Nui at a federal level is unknown.