Law firm Hart & David has issued a legal opinion suggesting USI-Tech’s investment scheme is lawful in the United States, a claim directly contradicting established securities regulations. This opinion emerged during a company "USA Kickoff meeting" on August 28th, where USI-Tech management presented the firm's findings to affiliates. The firm’s analysis focused on the legality of MT4 trading software, asserting it is a permissible product under FTC and SEC guidelines.
However, the core issue with USI-Tech’s operation has never been the legality of forex trading software itself. The company’s business model involves accepting substantial deposits, starting with €600 EUR, in exchange for promises of automated, passive returns. This structure strongly indicates an unregistered securities offering, a point conspicuously absent from Hart & David's presented opinion.
USI-Tech later introduced a Bitcoin trading package, requiring a €50 EUR deposit. Affiliates were promised a 1% daily return on investment, totaling 140% over 140 days. USI-Tech management, citing Hart & David’s opinion, has declared this unregistered securities offering a "legal product" and lawful to sell as a network marketing product in the U.S. This assertion directly challenges the SEC’s long-standing definition of a security.
The SEC has consistently ruled that any multi-level marketing investment offer constitutes a security, regardless of what other products or services are bundled. USI-Tech’s Bitcoin packages, which guarantee a passive daily ROI, fall squarely within this definition. The basis on which Hart & David disputes this classification, beyond a general reference to "case law, regulatory notes, transcripts and petitions," remains unclear. To date, USI-Tech has never registered with the SEC.
A spokesperson for Hart & David stated that their opinion was based on an examination of the company’s operations and relevant legal precedents. The firm maintains that the MT4 trading platform and the Bitcoin investment packages, as presented, do not violate U.S. securities laws. The opinion reportedly states, "It has been examined by our lawyers and in their legal opinion, it is a legal product."
The Financial Industry Regulatory Authority (FINRA) has previously issued warnings about investment schemes promising high, guaranteed returns with little risk. These schemes often operate as Ponzi or pyramid operations, where early investors are paid with funds from new investors. USI-Tech’s model, particularly the focus on recruitment alongside investment returns, aligns with characteristics of such fraudulent enterprises.
Victims of unregistered securities offerings can report the activity to the SEC’s Office of Investor Education and Advocacy. Information on filing a complaint can be found on the SEC website at investor.gov.