According to co-founder James Hardy’s lawyer, Nasgo is under investigation by the SEC.
A BehindMLM reader going by Collin has shared correspondence with Blair Kreuger, a Managing Partner of Krueger LLP.
Kruger purportedly reached out to Collin regarding claims made against James Hardy, in relation to ShareNode investor losses.
Wrote Kreuger to Collin on September 14th, 2019;
In your email, you state that you have ‘claims against [our client, Mr. Hardy].’ … As you know, when people invest they assume the risk that the investment will depreciate, or even fail.
Collin responded by bringing up securities law and the FTC Act;
Thank you for clarifying that “stakeholders” were “investing” in ShareNode. As you may be aware the securities being sold in ShareNode were never registered.
Further, the “affiliate program” sold people something of no value (SNP, or NSG that was not allowed to be withdrawn), which violates FTC regulations.
This prompted “threats and libelous statements”, and also the revelation that Nasgo was under investigation.
…. Perhaps you may be ignorant …: NASGO is under investigation by the SEC (and perhaps others). Mr. Hardy has cooperated in that investigation thus far completely.
To the best of my knowledge neither Nasgo, Eric Tippets or Steve Chiang have revealed the SEC investigation to their affiliate investors or the public.
As the investigation is ongoing, we don’t have any specific details at this stage.
BehindMLM warned of Nasgo’s securities fraud through ShareNode back in January 2019.
The company doubled down on its fraudulent offering by partnering with Ryze on or around August.
Update 29th April 2022 – The SEC has sued James Hardy, Eric Tippetts, Steve Chiang and Maurice “Butch” Chelliah for fraud.