Legal Expert Dives Into SEC's ONPASSIVE Stance & Bangladesh's Warning

Ash Mufareh began formulating, what became to be known as ONPASSIVE, in 2018. He described a business opportunity totally done for you designed to lift humanity. The SEC responded to ONPASSIVE’s Motion to Dismiss and in December 2023, the Bangladesh Bank issued a directive urging individuals to refrain from aiding investments or engaging in transactions with ONPASSIVE. And accused ONPASSIVE of embezzling investor funds through Ponzi schemes.

Today, attorney Doug Brooks responds to questions about the SEC’s response to the Motion to Dismiss and the latest developments with Bangledesh Bank issuing a warning.

Mr. Brooks is a lawyer based in Brookline, Massachusetts. Over the past 40 years Mr. Brooks has litigated a wide variety of civil cases nationwide, including matters involving franchising, dealerships and product distribution, as well as securities, antitrust and consumer protection class actions. Mr. Brooks has substantial experience representing the victims of fraudulent and deceptive multi-level marketing (“MLM”) schemes. He has represented MLM distributors in putative and certified class actions in state and federal courts, including cases against Herbalife, Nu Skin, Omnitrition, Melaleuca, Consumers Buyline and others. Mr. Brooks is frequently consulted by journalists and financial professionals concerning MLM law and the MLM industry and has published a number of articles on Seeking Alpha. Mr. Brooks was featured in the documentary “Betting on Zero,” which addressed the Herbalife controversy and premiered at the 2016 Tribeca film festival. Mr. Brooks has created the website www.pyramidscheme.law for people who are interested in pyramid schemes and MLM.

KEY DATES
March 9, 2022 – Article published, OnPassive is a Pyramid Scheme and illegal in Bhutan
August 11, 2023 – SEC filed a securities fraud claim against Ash Mufareh, ONPASSIVE, and Asmahan Mufareh (Ash’s wife)
September 1, 2023 – ONPASSIVE releases O-Connect as the first paid product
October 10, 2023 – Uniform Case Management Report filed by defendant
October 16, 2023 – Defendant’s Request for Oral Argument
October 16, 2023 – Defendant’s Motion to Dismiss
November 20, 2023 – Email and video exchange between ash and Michael Williams
November 27, 2023 – Deposit Protection Fund of Uganda (DPF) states DPF is not in a partnership with ONPASSIVE
December 11, 2023 – SEC responded to the defendant’s Motion to Dismiss
December 14, 2023 – Bangledesh issues warning of ONPASSIVE as Ponzi Scheme

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