Investview seeks to provide financial education tools, information, research, and digital asset technology management, with a particular emphasis on Bitcoin mining and digital asset development.
The firm provides self-directed brokerage services, institutional trade execution services, advisory services, digital assets, codeless algorithmic trading technologies, repair solutions, and blockchain technology.
The lack of regulation or the presence of poor regulation is a huge red flag. It means Investview is a scam and most likely, an illegal operation.
Companies offering investment services or opportunities without having a license can vanish without leaving a trace. Furthermore, the lack of a regulatory license allows them to get away with it and face no legal consequences.
In addition to these services, Investview provides education, research, and investment tools to help self-directed investors navigate the financial markets, which include stocks, options, FOREX, ETFs, binary options, and cryptocurrencies.
The company’s signature trading platform, which is already available, is intended to empower retail users and expert traders by giving tools for creating trading strategies. The portal features a library of technical analysis, fundamentals, and other information.
The program offered by Investview includes real-time market scanning and analysis, as well as the option to auto-trade custom-built strategies based on individual risk factors.
Currently, Investview has two significant subsidiaries: iGenius and SAFETek. iGenius, formerly known as Kuvera, is an e-learning organization that specializes in bitcoin, stocks, and forex markets.
That’s why it’s vital for you to always check a company’s regulation status as well as its license information. The presence of a license allows consumers to reach out to an authority if something goes wrong.
In the case of Investview, victims have nowhere to go due to the absence of a watchdog or license.
You should ask yourself the following questions when you come across a new investment firm or opportunity:
- Does the investment provider maintain transparency about its CEO?
- Do they have a license from a renowned regulatory authority?
- If the need arises, can I reach out to an authority to report this company as a scam?
In a recent development, Joseph Cammarata, the former CEO of Investview, was found guilty on all five counts of tax fraud. Following an early November trial, a jury pronounced its verdict on November 15th.
After the guilty conviction, Cammarata asked for a 60-day extension to file a Rule 29 Motion. This motion seeks a “judgment of acquittal,” implying Cammarata’s attempt to overturn the recent verdict. Notably, Cammarata had previously moved to overturn a guilty verdict in a similar fraud prosecution but failed.
Cammarata was accused with tax fraud in September 2022, specifically with Alpha Plus Recovery, a company involved in recovery scams. His previous conviction for recovery scamming resulted in a ten-year prison sentence, beginning in June 2023.
The court granted Cammarata’s request for an extension, giving him until January 29th, 2024, to file his Rule 29 motion. Depending on the outcome of this motion, the tax fraud conviction may be overturned or a sentencing date determined.
Updates on the SEC Civil Case and the DOJ’s Response
In another court procedure, the minute entry for civil proceedings before Judge Kenney in the SEC case on July 6th remains secret. Simultaneously, in the criminal case against Joseph Cammarata, the Department of Justice (DOJ) responded to a letter filed by him.
Cammarata’s Meltdown Letter and the DoJ’s Response
On July 5th, Cammarata wrote a letter to his brother accusing the DOJ of fabricating the case against him. In his letter, he acknowledged financial difficulties in hiring attorneys and requested permission to represent himself. The SEC reacted by asserting that it had received no correspondence from Cammarata’s lawyers about the incident. On July 7, the DOJ responded to Cammarata’s claims.
Investview discusses regulatory issues including securities fraud.
Previous Fraud Settlements and Name Changes
Investview’s regulatory difficulties began in 2018 when the company paid a $150,000 fraud case with the Commodity Futures Trading Commission. Following investor losses, the company’s name was changed from Wealth Generators to Kuvera Global, and eventually to iGenius.
Securities Fraud Charges Under Cammarata’s Leadership
Under Joseph Cammarata’s leadership, Investview has been accused of securities fraud, specifically through Kuvera Global and iGenius. The company claims an “operational turnaround to profitability,” but evidence suggests ongoing securities fraud, primarily with Bitcoin.
The recent arrest of Joseph Cammarata raises concerns about potential regulatory investigations into Investview’s iGenius NDAU token securities fraud. While the existence of such investigations is unknown, a link between Cammarata’s cases and the SEC action against Investview and iGenius.
Investview is a tiny financial company that has turned its focus to Bitcoin (BTC-USD) mining via its subsidiary SAFETek. InvestView, Inc. offers financial products and services to individuals, investors, and financial institutions.
While the shift to Bitcoin mining appeared to be strategic, with Investview reporting a $1.7 million profit in Q4 2020, a major increase over the $3.8 million net loss the previous year, it’s crucial to note that this profit was the result of a one-time gain from debt extinguishment. Furthermore, the operating profit margin was negative, and the company reported negative working capital in December.
Investview’s current valuation is $1.78 billion. Despite this apparent high valuation, the company’s current state suggests it is out of proportion to its true worth. Even when considering potential future development goals, the valuation appears high in contrast to competitors. Given these circumstances, it is recommended that you sell the stock.
However, it’s worth noting that many scammers disable their payment channels before shutting down their operations.
They might give you multiple reasons including:
- A technical error
- A glitch in their system
- Banking issues
- A “hacking attack”
And many others.
But in 9/10 cases, the scammers actually stop making payments and keep the money to themselves. Hence, the payment methods we discussed here might not work.
If you want to get your money back from a scammer, you’d need to file a chargeback.
When it comes to scammers, you should only measure the quality of their customer service if they respond to your complaint.
In the beginning, scammers tend to remain very accessible.
This means their representatives will keep calling you until you invest with them. Furthermore, they will act friendly and make it seem as if you’re one of their most valuable consumers.
However, they do all this just to win your trust.
Scammers understand that in order to convince someone to give them a large sum, they will need to seem like a friend.
Nevertheless, when you have invested a considerable amount of money and need to get it back, their customer support will become inaccessible.
All of a sudden, their numbers would either stop responding or become unavailable.
Still, they might remain accessible to convince you to invest further. Also, they might begin by making a few excuses regarding your payment.
However, in the end, the customer support won’t resolve your issues and become increasingly unavailable.
It’s worth noting that many scammers tend to purchase fake reviews. Buying fake reviews has become extremely easy and it’s a multi-million dollar industry.
Scammers like Investview tend to purchase fake reviews for their online profiles to make themselves seem more credible.
TIME Magazine investigated the fake review industry and estimated it to be worth more than $150 million. Certainly, there are a ton of scammers who want to seem legitimate and a bunch of fake reviews is the most effective way to do so.
That’s why you shouldn’t trust Investview reviews easily.
It’s easy to identify fake reviews as well. You should look out for 5-star reviews that are posted by temporary accounts (profiles that only posted 1 or 2 reviews on the platform). Also, you should see if the positive reviews share any detailed information about their experience with the firm or not.
In the case of Investview, chances are, you wouldn’t find many legitimate reviews.
Another prominent way scammers like Investview enhance their credibility is by burying negative reviews and complaints under a lot of fake reviews.
This way, when you’ll look up “Investview reviews”, you might not find many complaints. Or, you might find them buried within numerous reviews praising Investview.
You should always look out for consumer complaints. In the case of Investview, the most common complaints I found were about:
- Poor customer support
- Delays in payments
- High fees and charges
- Lack of transparency regarding their leadership team
- Aggressive sales staff
Do you have a similar complaint about Investview? You can share your complaint in the comment section or submit an anonymous tip.
The recent guilty decision of former Investview CEO Joseph Cammarata on tax fraud charges is a significant legal milestone. His attempt to reverse the verdict via a Rule 29 Motion, following an earlier unsuccessful attempt in a recovery fraud trial, complicates the judicial proceedings. Cammarata’s indictment and earlier sentence for recovery scamming add to the judicial story.
The lack of a license means they are not answerable to any regulatory authority. As a result, the people behind Investview can run away with your money without any prior notice. You should be extremely cautious when dealing with an unregulated service provider.
The absence of a watchdog also means you cannot report to them to anyone.
Also, due to the absence of specific regulations, there is no provision protecting you from the insolvency of this entity. If they go bankrupt, you won’t be able to do anything about it.
Can You Trust Investview?
All the evidence suggests that Investview is a scam. If you have lost money to them, there is still a chance you can get it back.
To recover your funds, you’d need to file a chargeback.
Is Investview a scam?
Can I withdraw money from Investview?
Where is Investview Located?
How do I get my money back from Investview?
Launch a website/app with a generic name
A website or app with a generic name allows scammers to hide behind common Google search results. Marketing such names is easier as well.
Pay influencers & social media pages to promote the scheme
By getting influencers and social media pages to promote their brand, scammers make their shady company seem more legit than it actually is.
Send thousands of emails and make cold calls to potential victims
It’s common for scammers to buy the contact details of people and spam them through email, phone calls, social media messages and other means.
Make victims feel safe through “small wins”
Such small wins usually include a few payments transferred into the victim’s account. This makes them seem more legitimate.
Convince victims into investing large sums of money
Due to the small wins, the victim is now convinced that the company is legit. Now, the scammers try to manipulate the victim into giving them larger sums.
Disable withdrawals & take down the website/app
Once the scammers have recieved a signicant sum, they either stop responding or cite a technical error to freeze their victims’ funds.
Repeat the cycle
After making the money, the scam will shut down and the people running it will launch another and repeat the cycle.