The Norwegian Gambling Authority issued a pyramid scheme fraud notice to Daxio (Lottstift).
On May 20, Lottstift sent a letter to “Daxio Norge” alerting them of the Daxio scam. The CEO of Daxio is listed as Frode Jorgensen.
About the Global Game Arena (GGA) in 2019, Lottstift recalls that Jorgensen has already received letters from him.
Jorgensen started the Ponzi scam GGA in 2019.
Three times collapsing, Jorgensen relaunched GGA as Daxio in the middle of 2020.
Lottstift stated that they are writing to Daxio to alert “everyone engaged in the business about the regulations… concerning pyramid schemes” after establishing that Daxio is “a continuation of Global Game Arena Ltd.”
The letter continues by claiming Lottstify has started an inquiry into Dixie.
The Norwegian Lotteries Authority is responsible for ensuring that the Lottery Act is being followed.
According to the Lottery Act, it is illegal to develop, run, take part in, or distribute pyramid schemes or other similar systems.
The Lottery Act prohibits pyramid schemes and trading systems that resemble pyramid schemes, and it also applies to direct sales models where more than half of the revenue is derived from dues and similar levies.
In other words, the firm must sell genuine products or services, and the revenue from these sales must account for at least 50% of total revenue to ensure that there is no illegal pyramid-style turnover scheme.
According to the BehindMLM evaluation of Daxio, there are no retailable goods or services offered by the business.
The Norwegian Lotteries Authority posits that the business operations are organized into a pyramid structure with several additional levels, where participants can make money by bringing in recruits at a lower level.
We have seen that informational events have been held specifically for Norwegians and that locals are hired by the company.
Our understanding leads us to believe that the business is a pyramid scam.
You enlist participants and promote investment products with dubious value and high-income claims.
We advise against betting on or investing money in pyramid schemes, investment fraud, and other similar frauds.
According to the information we have, Daxio also seems to facilitate gambling that is illegal in Norway.
The Lottery Act and the Gambling Act forbid the offering, marketing, and mediating of gambling in Norway without a license, including the mediating of payments.
We anticipate that you will distribute this letter to all parties involved in the company’s activities in Norway.
Then Lottstift advises Daxio to “immediately halt” conducting business in Norway.
Through a shell corporation established in the British Virgin Islands, Daxio conducts business.
Any MLM organization claiming to have connections to the BVI should be instantly suspicious because it is a scammer-friendly jurisdiction.
The websites “daxio.com” and “mydaxio.com” are where Daxio does business.
According to SimilarWeb, both sites’ traffic has decreased during the last three months. Recruitment seems to be negligible given how active Daxio is in Norway.
Malta (36%) is the country that drives the most traffic to “daxio.com,” followed by Vietnam (30%) and Sweden (15 percent ). Sweden (45%) is the country with the most “Mydaxio.com” traffic, followed by Hungary (18%) and Moldova (17 percent ).
Norwegian national Frode Jorgensen resides in Thailand.