New Reviewer

SCAM WARNING: Menlo One ICO and Matthew Nolan Continuous Unethical Practices, Misrepresentation of ICO

SCAM WARNING: Menlo One ICO and Matthew Nolan Continuous Unethical Practices, Misrepresentation of ICO
SCAM WARNING: Menlo One ICO and Matthew Nolan Continuous Unethical Practices, Misrepresentation of ICO
SCAM WARNING: Menlo One ICO and Matthew Nolan Continuous Unethical Practices, Misrepresentation of ICO
Menlo One (https://www.menlo.one/), led by CEO and Founder Matthew Nolan of New Jersey, launched in ICO in 2018 under the guise of a utility token and continued to take investor money under the concept of a utility token, which according to the SEC does not apply to ICOs. Over $2.5 million of investor money was raised in an illegal securities offering, with continued lack of fiduciary responsibility by Matthew Nolan. Under the recent ruling of the SEC (https://finance.yahoo.com/news/sec-brings-ico-crackdown-open-13223****.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. Also, investors should be eligible for a refund due to the lack of responsibility, mismanagement, and negligence shown by CEO Matthew Nolan (details below). “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 and has even overstated the amount of tokens sold, which is blatant fraud. Matthew Nolan can be seen explaining this in these screenshots on Menlo One’s Telegram channel and previous website. According to sources, Matthew Nolan has a history of overstating fundraises and misrepresenting claims. In these screenshots Menlo One claims to have sold 113% of their goal, which is inaccurate compared to tracking resources that estimate the raise at $2.6 million, a fraction of the total goal (https://icobench.com/ico/menlo-one). The Menlo One website does not make a reasonable attempt at clarifying this and has been live with this false information since November 1. This is blatant fraud as potential new token buyers are faced with inaccurate information on Menlo One’s website, which is being managed by Matthew Nolan, thus falsely influencing investor decisions in an unregistered raise and project that is now tainted. Matthew Nolan Details: Matthew Nolan Email: matt@***.one Matthew Nolan Cell: 415-640-**** Matthew Nolan Website: http://matthewnolan.me/ Matthew Nolan Facebook: https://www.facebook.com/numbersgame Matthew Nolan Twitter: https://twitter.com/ImMatthewNolan Matthew Nolan Crunchbase: https://www.crunchbase.com/person/matthew-nolan Matthew Nolan Angel: https://angel.co/matthew-nolan Please be aware that this company has multiple SEC complaints submitted against them. Investors beware as Menlo One seeks additional financing. Conduct all proper due diligence on the team, financials, filings, and more before any involvement with Menlo One. Menlo One is currently trading at $0.000666 down from an ICO price of $0.0177, a significant loss for investors. All investors in Menlo One are recommended to contact the SEC and initiate a complaint in hopes of a refund. Menlo One, registered in the Cayman Islands by Matthew Nolan, failed to restrict US investors and has attempted to shield itself from regulation. Contact the SEC or submit a claim here: https://www.sec.gov/reportspubs/investor-publications/complaintshtml.html https://www.sec.gov/tcr
View full review
6 comments
#1675457

I also hate Matthew Nolan. I was with him from March 18 to March 31st, 2019.

Are you guys interested in his personal life?

Because I know so much. My email: lilyteam4@***.com

#1676800
@PissedConsumer1675457

If his personal life is anything as screwed up as his business life, this should be good.

#1728660
@PissedConsumer1675457

Would it be possible to post a new e-mail address here to get in touch with you, or a phone number? Matt seems to have disappeared off the face of the earth and all his addresses are fake.

#1675453

Oh...

#1672627

We should ask Matt Nolan what happened to the people that helped them build his whole concept...here is a hint, they are no longer on the Menlo One website...

#1671976

Can't say this surprises me one bit. Word around the industry is that this project and management team is riddled with questionable practices.

View more comments (5)
ID
#1507045 Review #1507045 is a subjective opinion of poster.
Reason of review
Misrepresentation of offering
Loss
$40000
Preferred solution
Full refund

Why Trust Reviews on PissedConsumer?

  • Professional auto and live moderation
  • 100% user-generated content
  • Equal opportunity and protection
  • Zero tolerance for fake reviews
  • Verified content

For more information read Blog article