Menlo One (https://www.menlo.one/), led by CEO and Founder Matthew Nolan of New Jersey, launched in ICO in 2018. Over $2.5 million of investor money was raised in an illegal securities offering with a core team based in the US and continued lack of fiduciary responsibility by Matthew Nolan, who was caught by multiple buying parties over inflating the committed raise amounts in hopes of attracting new investors.
Under the recent ruling of the SEC (https://finance.yahoo.com/news/sec-brings-ico-crackdown-open-132238303.html) Menlo One is in violation of United States Securities Laws and should offer full refunds to investors who have invested under the utility token mode and not complying by the necessary expemtions as a US operated company, despite a shell corporation in the Cayman Islands. Investors should be eligible for a refund due to the lack of responsibility, mismanagement, and negligence shown by CEO Matthew Nolan.
The SEC thinks almost all token sales are securities offerings, and need to be registered accordingly or qualify for an exemption. (The exemptions include selling only to investors outside the U.S., or selling only to accredited investors, which are people with income higher than $200,000 or a minimum net worth of $1 million.)”
CEO Matthew Nolan, has consistently denied investor inquiries about the raise being a security (image below) and has even overstated the amount of tokens sold (image below), which is blatant fraud and commonly used as a technique during future fundraises in the blockchain industry. Matthew Nolan can be seen explaining this in these screenshots on Menlo One’s Telegram channel and previous website.
Menlo One Reviews
Menlo One (https://www.menlo.one/), led by CEO and Founder Matthew Nolan of New Jersey, launched in ICO in 2018. Over $2.5 million of investor money was raised in an illegal securities offering with a core team based in the US and continued lack of fiduciary responsibility by Matthew Nolan, who was caught by multiple buying parties over inflating the committed raise amounts in hopes of attracting new investors.
Under the recent ruling of the SEC (https://finance.yahoo.com/news/sec-brings-ico-crackdown-open-132238303.html) Menlo One is in violation of United States Securities Laws and should offer full refunds to investors who have invested under the utility token mode and not complying by the necessary expemtions as a US operated company, despite a shell corporation in the Cayman Islands. Investors should be eligible for a refund due to the lack of responsibility, mismanagement, and negligence shown by CEO Matthew Nolan.
The SEC thinks almost all token sales are securities offerings, and need to be registered accordingly or qualify for an exemption. (The exemptions include selling only to investors outside the U.S., or selling only to accredited investors, which are people with income higher than $200,000 or a minimum net worth of $1 million.)”
CEO Matthew Nolan, has consistently denied investor inquiries about the raise being a security (image below) and has even overstated the amount of tokens sold (image below), which is blatant fraud and commonly used as a technique during future fundraises in the blockchain industry. Matthew Nolan can be seen explaining this in these screenshots on Menlo One’s Telegram channel and previous website.