DavorCoin Hit With Cease And Desist From Texas

DavorCoin ReviewHas someone tried to pitch you the DavorCoin opportunity lately?

DavorCoin is a really popular and new opportunity that is making it’s rounds on social media among network marketers.

Now, first off, let me make it clear I am NOT promoting this business opportunity as an affiliate or distributor.

I have all the facts about this business in my DavorCoin review so you can learn the full truth about it!

Is DavorCoin a scam?

Can you make an honest business with DavorCoin?

Let me show you in my review of DavorCoin.

Read on for all the details.

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DavorCoin – What Is It??

So far in 2018, the SEC in the United States hasn’t been doing much in regards to shutting down fraudulent Ponzi schemes. In an attempt to pick up its slack, Texas has been throwing cease and desist warnings at all sorts of Ponzi schemes without showing any sign of slowing down.

Most recently, the Texas Securities Board slammed DavorCoin with a cease and desist to stop any and all operations in the state.

DavorCoin is an ICO being offered by BitConnect, and it’s essentially nothing more than a Ponzi ICO. Affiliates are asked to invest money so they can potentially earn an ROI, and while this sounds good on paper, there’s really no money to be earned.

The recent collapse of BitConnect has resulted in a ton of losses from more than a few investors, and following this, DavorCoin was being painted as a way for said investors to make back the money they’d lost.

However, for those that were foolish enough to take BitConnect’s word, people that invested again have only been met with even more losses than what they were already facing.

DavorCoin was trading for around $160 shortly after the initial launch, but since then, the value has plummeted down to just $5. As expected, people are pissed.

Texas issued its cease and desist on February 2, 2018, and it hits DavorCoin with an accusation that it’s “illegally and fraudulently offering investments in a cryptocurrency lending program in Texas.”

DavorCoin Scam

DavorCoin did respond to Texas’ Security Board following BitConnect being hit with a cease and desist, with the Securities Board saying:

“On January 16, 2018, DavorCoin responded by announcing that ‘this does not change anything for us’ and that DavorCoin is now ‘the number one lending platform in the world!!’

DavorCoin also responded by announcing DavorCoin is ‘now the new standard..Many people are going to join us, the price will increase and all you already in the game with us will benefit from it.’”

Similar to what we say with BitConnect and R2B Coin, Texas is accusing DavorCoin of offering illegal and unregistered securities to Texas residents.

Per the Securities Board:

“The investments in the DavorCoin lending program have not been registered by qualification, notification or coordination, and no permit has been granted for their sale in Texas.

DavorCoin has not been registered with the Securities Commissioner as a dealer or agent at any time material hereto.”

As for evidence against DavorCoin, the Texas Securities Board says that the company intentionally failed to disclose its principles, place of business, assets, liabilities, and more.

Similarly, DavorCoin must stop any and all offerings of securities in Texas. Should the company or any of its affiliates continue to do this, they’ll be hit with a fine up to $5000 and possibly two years in prison.

How will DavorCoin respond to the cease and desist? That remains to be seen. USI-Tech completely ignored the one it got, BitConnect collapsed, and R2B Coin took its website offline.

In the meantime, keep being you, Texas.

 

Is DavorCoin Really A Scam?

Have you been hearing that DavorCoin is a scam?

Have you heard DavorCoin is legit?

It can be hard to tell with so many different people telling you different things.

So, what’s the truth – is DavorCoin a scam or is it a good business?

I would say it’s not really a scam. There are a few things you should be aware of before joining.

The best way to be successful is to be prepared going in, and have a plan to market yourself.

If you want help marketing and making money, see below.

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Conclusion for DavorCoin

I hope you got all the details you needed to make an informed decision in this DavorCoin Review.

Bears of anyone trying to sell you something in their review articles.

If you do want to proceed with DavorCoin, make sure you know how to market properly.

My FREE training below will help you.

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