New Zealand authorities have issued a cease and desist notice to Shelly Cullen, a promoter of the Lion's Share investment scheme. The Commerce Commission acted on December 21st, making the notice public on January 19th. Cullen had drawn regulatory scrutiny after claiming to have earned $154,000 from Lion's Share by the end of the previous year.

Lion's Share is identified as a smart-contract Ponzi scheme operated by James Ward. Following the receipt of the "Stop Now" letter, Cullen informed the Commission that she has stopped promoting the scheme. It remains undetermined whether further action will be taken against her by the Commission.

A review of Cullen's online activity reveals a history of promoting various questionable ventures. Her YouTube channel shows past promotions for SuperOne, Crypto World Evolution, RegalCoin, Tresmore, iCoinPro, DasCoin, Saivian, Freedom5, Imap Revshare, Crowd Rising, Zewang, and FortAdPays, many of which are described as Ponzi schemes or securities fraud. One video promoting FortAdPays dates back five years, indicating a long-standing involvement in such promotions.

The Commerce Commission has stated that its investigation into the matter is ongoing. Due to the active investigation, the Commission has declined to provide further comment or interviews at this time.

An update on April 26th, 2024, revealed that Shelly Cullen has since been convicted on charges related to Lion's Share.