The Monetary Superintendence of Colombia has issued a fraud warning in opposition to Be Guidelines.
The SFC’s warning cites Be Guidelines by its a number of names, together with Be, Melius and Be Issue.
As per the SFC’s December sixteenth warning;
The supply of services and products which are typical of the inventory market of any agency or platform hosted overseas to residents within the nation will need to have the right authorization from this management physique.
Be Guidelines (does) NOT at the moment have any authorization to advertise their monetary merchandise and/or companies to residents within the nation instantly or not directly and thru any means, particularly, these of the inventory market.
Melius is the securities fraud precursor to Be. Melius collapsed in early 2020 and was rebooted as Be mid-year.
Following a fraud warning from Canada in late 2020, Be was rebranded as Be Guidelines in early 2021.
BehindMLM can be conscious of the scheme branding itself as Be To Encourage.
As celebrated on BusinessForHome, Be Guidelines held an occasion in Colombia weeks previous to the SFC’s fraud warning.
Be Guidelines’ “Be Unstoppable” occasion was held in Bogota, with purportedly over 5000 distributors in attendance.
Be Guidelines is headed up co-founders Moyn Islam (President and CEO), Monir Islam (CVO) and Ehsaan B. Islam (CTO).
Moyn and Monir Islam are former promoters of the infamous OneCoin Ponzi scheme.
Initially from the UK, two months after OneCoin collapsed the Islam brothers fled to Dubai.
The SFC notes that in 2021 it took regulatory motion in opposition to twelve people selling fraudulent companies.
Whether or not Colombian regulators take motion in opposition to Be Guidelines distributors stays to be seen.