The website of Seletti AI lacks any information regarding its ownership or leadership team. The domain name “seletti.ai” was registered privately on October 19th, 2023. The marketing videos accessible on Seletti AI’s internal platform feature “Lenny” as the Chief Executive Officer and “Tarek” as the Relations Manager, both of whom communicate in North American accents.
Upon doing additional scrutiny, it was ascertained that the CEO of Seletti AI, known as “Lenny,” is Leonard J. Giaquinto, a furniture salesman affiliated with Kozy Furniture. Giaquinto was named as the “Chairman of the Board of Directors” of Kozy Furniture in early 2021, as stated in the press releases. Giaquinto’s social media sites indicate that they reside in Virginia, USA.
Before joining or making financial commitments to an MLM firm, it is prudent to exercise care if the company does not openly reveal its ownership or leadership information.
The lack of regulation or the presence of poor regulation is a huge red flag. It means Seletti AI
Seletti AI 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.
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 Seletti AI, 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?
Seletti AI does not offer physical products or services for sale. Affiliates are restricted to just marketing Seletti AI affiliate memberships, without any supplementary retail items.
Seletti AI provides investment options in tether (USDT) to affiliates seeking to generate a passive daily income. There are two investment plans offered: Seletti Growth Fund VII requires a minimum investment of 50 USDT and offers a daily return of 0.5%. The Opportunistic Credit Fund requires a minimum investment of 250 USD and offers a daily return of 0.7%.
Furthermore, Seletti AI offers affiliates referral commissions that are determined by the amount of USDT invested in their referrals. The compensation structure follows a unilevel model that spans three levels of recruiting. The commission rates for each level are as follows: Level 1 (affiliates directly recruited) – 10%, Level 2 – 5%, and Level 3 – 1%.
Seletti AI provides a complimentary affiliate membership, however, to actively participate in the earning possibility, a minimum investment of 50 USD is required. Nevertheless, its authenticity remains uncertain.
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 Seletti AI 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 Seletti AI 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 which 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 Seletti AI, chances are, you wouldn’t find many legitimate reviews.
Another prominent way scammers like Seletti AI enhance their credibility is by burying negative reviews and complaints under a lot of fake reviews.
This way, when you’ll look up “Seletti AI reviews”, you might not find many complaints. Or, you might find them buried within numerous reviews praising Seletti AI.
You should always look out for consumer complaints. In the case of Seletti AI, 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 Seletti AI? You can share your complaint in the comment section or submit an anonymous tip.
Seletti AI is an internet-based investing platform that asserts its ability to produce additional income by employing automated forex trading. The Seletti PAMM Account, powered by Seletti A.I., is a forex trading system that is advertised as a managed and automatic platform. It utilizes constant analysis of financial data, past price movements, market news, and technical indicators to forecast future market trends.
Nevertheless, there is insufficient data to substantiate the assertion that Seletti AI functions as an AI trading bot. The investment scheme’s passive returns are categorized as a securities offering based on the Howey Test. A query conducted in the SEC’s Edgar database reveals that both Seletti AI and Leonard Giaquinto are not authorized to provide securities offerings in the United States.
Registration with the CFTC is necessary for forex trading to be considered legitimate. Nevertheless, a query of the NFA’s registered firm database indicates that Seletti AI is not listed as a registered entity. These findings indicate that Seletti AI and Giaquinto might be engaged in illicit activities related to securities and commodities fraud within the United States.
Currently, the sole confirmed source of revenue for Seletti AI is a new investment, which gives rise to concerns over the possibility of a Ponzi scheme. Following the normal structure of an MLM Ponzi scheme, when the recruitment of affiliates diminishes, there will be a corresponding fall in new investments, ultimately resulting in a collapse.
Seletti AI is an unregulated entity. Although they might fall under the jurisdiction of a watchdog, they don’t have the license to offer financial services to consumers.
The lack of a license means they are not answerable to any regulatory authority. As a result, the people behind Seletti AI 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 Seletti AI?
All the evidence suggests that Seletti AI 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 Seletti AI a scam?
Can I withdraw money from Seletti AI?
Where is Seletti AI Located?
How do I get my money back from Seletti AI?
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.