First published at 13:10 UTC on November 20th, 2023.
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On November 6, 2023, the SEC amended their initial claim concerning ONPASSIVE.
English: https://youtu.be/7lN9fOKlmuE
हिंदी / Hindi: https://youtu.be/CaGQupwqOBE
বাংলা / Bangla: https://youtu.be/ngeLbsQOnPE
--- Chapters ---
00:20 Alternative Languages
00:40 Introduction
02:16 Summary
08:20 Summary of Violations
09:35 Defendants
10:36 Relief Defendant
10:51 Terms
15:08 Facts
15:18 The ONPASSIVE Pyramid Scheme
24:49 Emphasizing the Passive Income Opportunity through Recruitment
29:59 Misrepresentations in Furtherance of the Pyramid Scheme
30:16 Misrepresented as Legal and Fully Compliant
31:44 Misrepresented the Feasibility and Timing of Product Launch
37:59 Counterfeit and Misleading Websites
44:18 Unregistered Offer and Sale of Securities
45:29 The Mufarehs Received Investors' Funds
46:31 Claims for Relief
55:05 Updates
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As was ruled in Hosseinzadeh v. Klein, 276 F.Supp.3d 34 (S.D.N.Y. 2017), clips from an original work may be used to “comment on and critique a work”, and the use of clips is “reasonable to accomplish the transformative purpose of critical commentary”. See also NXIVM v. The Ross Institute, Inc., 364 F.3d 471 (2nd Cir. 2004) (quotations from course materials for critical commentary was fair use). I believe my video is transformative in nature in order to criticize and comment, and is not intended as a market substitute for the original video.
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