Menlo One (https://www.menlo.one/), led by CEO and Founder Matthew Nolan of New Jersey, launched in ICO in 2018. Over $2.5 million of investor money was raised in an illegal securities offering with a core team based in the US and continued lack of fiduciary responsibility by Matthew Nolan, who was caught by multiple buying parties over inflating the committed raise amounts in hopes of attracting new investors.
Under the recent ruling of the SEC (https://finance.yahoo.com/news/sec-brings-ico-crackdown-open-132238303.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 and not complying by the necessary expemtions as a US operated company, despite a shell corporation in the Cayman Islands. Investors should be eligible for a refund due to the lack of responsibility, mismanagement, and negligence shown by CEO Matthew Nolan.
“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 (image below) and has even overstated the amount of tokens sold (image below), which is blatant fraud and commonly used as a technique during future fundraises in the blockchain industry. Matthew Nolan can be seen explaining this in these screenshots on Menlo One’s Telegram channel and previous website.
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 was live with this false information since November 1 up through 2019.
This is blatant fraud as potential new token buyers or investors 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.
Please be aware that this company has multiple SEC complaints submitted against them from our group and other investors that joined the sale. 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 about the blatant mismanagement and misrepresentation.
Contact the SEC or submit a claim here: https://www.sec.gov/reportspubs/investor-publications/complaintshtml.html
Matthew Nolan Details:
Matthew Nolan Email: firstname.lastname@example.org
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
Menlo One Details