New Zealand's Financial Markets Authority issued a fraud warning on February 8th, derailing WeWe Global's planned Oceania marketing blitz. The company's February tour across Australia and New Zealand faltered almost immediately after the warning.
Top WeWe Global promoter Diego Endrizzi, an Italian national now based in Dubai, was slated to headline the tour. Reports indicate Endrizzi abandoned his trip to New Zealand following the FMA's alert. He was reportedly on a flight that was held up as he departed.
A WeWe Global event proceeded on February 9th at the Novotel Christchurch Airport. Despite the FMA's fraud warning, the hotel provided a venue for the gathering. Frank Everard Stace hosted the event. A transcript obtained from Danny De Hek reveals Stace dismissed the FMA's warning as "ridiculous." Stace stated, "All sorts of, you know, of course that’s ridiculous, but cause as a result of some of the misinformation about what it is we do." He assured attendees, "This is gonna be addressed legally and the legal team are on it. And from our point of view, nothing changes. It’ll get sorted."
WeWe Global operates a passive investment scheme that constitutes a securities offering. New Zealand's top financial regulator, the FMA, has confirmed WeWe Global is not registered to offer securities in New Zealand. It remains unclear how the company's legal team plans to challenge global securities laws.
Everard Stace addressed Endrizzi's absence at the Christchurch event. He explained, "Diego couldn’t make it into New Zealand on legal advice in Australia, this will get sorted out and he’ll be back here as soon as possible."
While tickets for the Oceania Tour were sold to the public, attendees were screened before admission. Stuff reporter Martin van Beynen purchased a $20 ticket with the intention of questioning WeWe Global's promised 10% monthly return on passive investments. Van Beynen’s ticket was scanned, but he was subsequently denied entry.
Van Beynen described the situation: "I seem to have been barred entry just because I’m an investigative reporter." He recounts Stace attempting to escort him away from other potential attendees. Van Beynen felt Stace was withholding information due to his profession. Danny De Hek also claimed he was removed from the event. De Hek stated he entered the event confidently but was questioned by Tony Mark-Seymour. De Hek expressed regret for identifying himself as "a nobody."