Hedonova.io operates in the “alternative asset management” niche.
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Marketing material on the Hedonova website claims that the company has a physical presence in US, Estonia, Paris and France.
These folks who run Hedonova.io claim that the website is registered by an entity called Delaware LLC and is exempted from Regulation D of the Securities Act of 1933.
We noted that this company’s activities have exceeded the scope for which they are authorized by the SEC to do business. In fact, they are not authorized to provide any sort of asset management services.
Consequently, consumers need to take precaution as the company is as good as any other hedge fund that is not properly regulated.
According to this domain snooping tool, the official website has been around since December 2021.
If you’ve spent any considerable amount of time on these streets, you’re probably aware of scams that masquarade in this fashion.
Note this: If you’ve lost any amount of money in an asset management scam, read this information to learn how you could recoup your money.
What is Hedonova selling to consumers?
They offer a smogasboard of trading products dubbed “alternative assets”. The company is illegally soliciting $5,000 from investors and claiming that the money will be invested in music, NFT, agriculture, space startups, real estate and leasing of equipment.
In other words, all manner of investment whack-a-doodle can be found on this website.
They use it as a means to convince the financially unsophisticated consumer. The grind must continue and the perpetrators must be smart to keep harvesting millions of dollars from consumers who act on the promise of a stable ROI.
Who runs Hedonova?
This SEC filing discloses that the company is owned and operated by Alexander Cavendish and Shamit Hansa.
Mr. Alexander Cavendish claims to have degrees in math and computer science and is a former hedge fund manager.
If this resume is accurate, then Mr. Cavendish must be over-qualified. He will definitely handle your investments safely and profitably.
The only problem is that there’s no credible evidence that he worked for the companies mentioned in his resume, and even if he did, we don’t know why he quit o what his performance looked like at the time.
Meanwhile, Mr. Hansa is not so loud when it comes to his resume. He decides to keep most of the things about his life under wraps.
Do these people have the qualification and experience to handle your investments?
Can they be trusted with customers’ funds?
These are questions that Hedonova tries to answer using a simple unverified “performance” page.
This performance page is supposedly showing how the fund has been performing over a certain duration of time. A pie chat has also been included in this page to show consumers the allocation of individual assets in the fund.
All of this information is fine and dandy. The question — is this information verifiable by a third party?
Wouldn’t it be transparent and much better if Hedonova used an independent auditing firm to confirm the performance?
Why Hedonova is not a registered asset manager
At this point, we agree that Hedonova is offering or selling securities.
Their claim to fame is that they’re exempted from Regulation D of the Securities Act.
Most folks have not read what the rules are. We will therefore break it down here.
1)Exempted companies must not use advertising or general solicitation to collect funds from consumers.
2)The exempted company can sell their securities to an unlimited number of accredited investors. The number of unaccredited investors must not exceed 35. If they are more than 35, the company must ensure the consumer is well versed with the risks. In other words, the consumer must be a sophisticated investor.
We’ve noted that Hedonova is in breach of the above.
First of all, the company has created a fraudulent profile with another “give me money I promote you” scheme called Trustpilot.
Trustpilot is a largely a Mecca of fake reviews of products and services on the web.
For every 10 reviews, you can be sure that 6 are fake.
If a vendor wants 5 star rating and no flagging of “fake reviews” by the Trustpilot scheme, they simply pay a monthly fee.
Hedonova has refused to pay but insisted on pumping fabricated reviews on their profile.
This is more than gross violation of the first point we listed above.
Secondly, Hedonova is accepting consumers from every corner of the world regardless of whether they’re accredited or not.
There’s no disclosure of how they vet consumers who are not accredited.
Wrapping it up
At the end of the day, things resolve into a ponzi scheme type of setup — where the company is actually not trading these assets but paying ROIs from other investors’ money.
At this point it’s difficult to tell… but the red flags are there in plenty.
Would you still be willing to “invest”?
Unless you’re one of those lucky participants (who got paid from other victim’s money), chances of losing your dear $5,000 is nearly 100% certain.
Thanks for reading the Hedonova review.
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They don’t seem legit.
Hedonova is not regulated. If someone has experience with this company can you join the discussion. I wanted to invest but I had a second though. I can’t trust them just yet.
I checked them out on Trustpilot and noticed that they are submitting fake reviews there. So definitely this is a scam guys.