Crypto investment scam warnings and resources in Honolulu Hawaii

Hawaiʻi's Department of Commerce and Consumer Affairs (DCCA) has issued a cease and desist order against BG Wealth Sharing LTD, along with individuals Cranci Ilima Luci Hoopai and Ligaya Joy Arcenas, for allegedly promoting unregistered securities through a cryptocurrency platform.

 

The order alleges that the respondents conducted presentations across the state, directly soliciting Hawaiʻi residents to invest in BG Wealth Sharing LTD without proper registration.

 

Each respondent faces a proposed administrative penalty of $50,000, totaling $150,000, and a permanent injunction against securities-related activities in the state.

 

Residents are urged to exercise caution with investment opportunities promising high returns with little risk, as these are common indicators of fraudulent schemes.

 

Anyone who has been solicited by or invested with BG Wealth Sharing LTD is encouraged to contact the State Securities Enforcement Branch’s Scam Line at 1-877-HI-SCAMS (1-877-447-2267).

 

For more information on protecting yourself from investment scams, visit the DCCA's official website.