9xProfits has been told by Texas authorities to stop immediately due to fraud. The Texas State Securities Board has given a cease and desist order to 9xProfits, along with its leaders and promoters, including Alastair Prescott, Esme Ravenscroft, Hamza Karim, Joshua Gleeson, Shirley Atwood, and Lucas Morris.
This company, 9xProfits, is involved in a cryptocurrency Ponzi scheme and claims to make money through an AI trading bot. They ask people to invest with the promise of making up to 300% profit in 200 days. However, the Texas State Securities Board found that 9xProfits’ “investment packages” are considered securities, and the company has not registered them properly.
The individuals promoting 9xProfits, like Nathan Paul Weissenborn, Andrew Harrison, Coach Honey Leon, Crypto Muscle Network, and Crypto Muscle OG, are also mentioned in the order. The order requires all named individuals to immediately stop selling securities in Texas until they are properly registered.
Failure to comply with Texas’ securities laws could result in fines up to $10,000 and imprisonment for two to ten years. Additionally, New Zealand’s FMA issued a warning about 9xProfits last month. The 9xProfits website has been shut down as of November 18, 2023.
