Nigerian SEC Issues Warning on Aurum Foundation
The Nigerian Securities and Exchange Commission (SEC) has issued a warning about **Aurum Foundation**, labeling it as a potential Ponzi scheme. This announcement, made on January 22, 2026, highlights the risks associated with the platform, which claims to be an investment opportunity in cryptocurrency.
Details of the SEC Warning
The SEC has clarified that **Aurum Foundation** is not registered or licensed to solicit investments from the public or to operate in the Nigerian capital market. The commission's investigation revealed that **Aurum BOT**, a service associated with the foundation, is actively promoting itself on social media and online platforms, showcasing characteristics typical of fraudulent schemes.
“Soliciting investment on the promise of passive returns constitutes a securities offering. Failing to register such offerings constitutes securities fraud,” the SEC stated.
Operations and Leadership
**Aurum Foundation** claims to generate revenue through an AI cryptocurrency trading bot known as “EX-AI.” The operation is headed by CEO **Bryan Benson**, a Peruvian national residing in Dubai. The foundation operates out of this city, which has gained a reputation for being a hub for MLM-related fraud.
Interestingly, while Benson is touted as the face of **Aurum Foundation**, there are allegations that the scheme may actually be run by Russian scammers who are also based in Dubai.
The Broader Implications
The warning from the Nigerian SEC is part of a broader trend of increased scrutiny on MLM schemes and investment platforms. The **Central Bank of Russia** also issued a similar warning regarding **Aurum Foundation**, indicating the global concern over its operations.
As of March 2026, data from SimilarWeb indicates that the **Aurum Foundation** website receives approximately 359,000 visits per month. Notably, the majority of this traffic comes from the United States (29%), Greece (22%), Turkey (9%), Norway (8%), and France (6%). This is significant because it demonstrates the platform's reach beyond Nigeria, despite not being registered to offer securities in these jurisdictions.
What This Means for the MLM Community
The SEC’s warning serves as a crucial reminder for both distributors and potential investors in the MLM space. For distributors, it highlights the importance of ensuring that their business operations comply with regulatory standards to avoid legal repercussions. For consumers, this warning underscores the need for due diligence before investing in any platform that promises high returns with little risk.
Future Watch
The MLM community should remain vigilant as regulatory bodies worldwide continue to crack down on unlicensed and fraudulent investment schemes. Observing how **Aurum Foundation** adapts to these challenges, and any further actions taken by the SEC or other regulatory authorities, will be critical in understanding the evolving landscape of MLM and investment opportunities.
