In an try to distance itself… from itself, Darren Olayan has resigned from Nui’s father or mother shell firm Appliqate.
Nui’s firm historical past is deliberately convoluted. At current the one factor going for Nui is Nui Worldwide.
Nui Worldwide is your typical MLM crypto buying and selling bot Ponzi scheme.
The funding scheme isn’t accessible within the US and is primarily promoted in South Africa, Brazil and Colombia.
In a current June ninth OTC Markets submitting, Appliqate needed to disclose Nui’s earlier run-ins with US securities legal guidelines.
A paragraph beneath the disclosure reads;
All of the actions main as much as the authorized continuing naming Darren Olayan and Nui Social L.L.C have been previous to Appliqate’s acquisition of the corporate’s Property and Mental Property which excluded all Liabilities.
Appliquate [sic] Inc. has accepted the resignation of Darren Olayan efficient Could twenty ninth, 2020.
So far Nui and Darren Olayan have been topic to 2 securities associated regulatory actions within the US.
The primary was in Texas again in 2018, which resulted in a $25,000 tremendous.
The second was a securities fraud stop and desist from Montana, which resulted in a discover filed by CSI on September nineteenth, 2019.
Whereas the Texas C&D was resolved previous to Appliqate’s acquisition of Nui in early 2019, the Montana motion was ongoing.
The Montana motion in opposition to Olayan and Nui wasn’t resolved till September 2019, nicely after Appliqate’s acquisition.
Anyway, getting again to Olayan’s Could twentieth resignation.
Appliqate’s acqusition of Nui was mainly Darren Olayan shopping for his personal firm from himself.
Upon buying Nui, Olayan was promptly promoted to Appliqate CEO and given a place on their Board Administrators.
From there it was enterprise as typical, with Appliqate participating in securities fraud via Nui Worldwide.
So why is Olayan resigning now?
An organization announcement by Una Taylor, cited as President of Appliqate, states;
Former CEO, Co-Founder, and Board Member Darren Olayan is now transferring ahead with plans to develop internationally into Brazil, Mexico, Colombia, Peru, Japan, South Africa, and Europe.
He has been such a tremendous asset to APQT and can proceed to assist us attain new heights in strategic enterprise improvement.
To offer Darren the area and time he wants to perform this stuff, he has transitioned away from his function as CEO and Board Member.
We stay up for making nice strides by placing this subsequent a part of our plan into motion.
APQT desires to thank Darren for all he has added in worth and stay up for all of his future contributions to our wonderful endeavor.
Though not talked about by identify, the one enterprise Appliqate has in “Brazil, Mexico, Colombia, Peru, Japan, South Africa, and Europe” is its Nui Worldwide Ponzi scheme.
Olayan has after all been working Nui Worldwide from day one, so there’s no change there.
By stepping down at Appliqate (however nonetheless retaining possession), the transfer appears to be to preempt additional investigation into the corporate.
It’s price noting that regardless of being registered with the SEC and legally required to reveal Nui Worldwide, Appliqate has made no SEC filings since August 2019.
I believe Olayan’s stepping down will see him flee the US. Nui Worldwide doesn’t solicit funding within the US so it is mindless to maintain working it from Utah.
I wasn’t capable of affirm whether or not Olayan has already fled as he nuked his social media in the course of the Montana investigation.
If the SEC has a pending investigation into Nui and Appliqate, they may wish to act earlier than Olayan heads to an airport.