The Securities Commission of The Bahamas issued a public notice warning that Creators Alliance, Creators Alliance Limited and Creators Alliance Caribbean may be conducting activities in or from within The Bahamas that are registrable, licensable or illegal under the Securities Industry Act, 2024, the Investment Funds Act, 2019, the Financial and Corporate Service Providers Act, 2020 and the Digital Assets and Registered Exchanges Act, 2024. The Commission stated that Creators Alliance and its agents or representatives are not registered with or licensed by the Commission and that its activity may violate one or more of these laws. Based on the Commission’s information and enquiries, the California-based entity appears to operate a multi-level structured program where participants pay an upfront sum for a six or seven month period, are promised daily income for watching videos, and are told they will receive their initial payment back at the end of the period, while recruiters earn income linked to the scale of recruitment. The Commission said the arrangement has the hallmarks of a pyramid scheme, which is a “Financial Scheme” under the Financial and Corporate Service Providers Act, 2020, making it an unlawful operation in The Bahamas, and urged the public to exercise extreme caution and avoid potential financial loss.
Bahamas Securities Commission 2025-04-04
Securities Commission of The Bahamas warns Creators Alliance is not licensed and may be operating an unlawful pyramid scheme
The Securities Commission of The Bahamas issued a public notice warning that Creators Alliance and its affiliates may be conducting illegal activities under several Bahamian financial laws. The entities are not registered or licensed by the Commission and appear to operate a pyramid scheme, promising returns for watching videos and recruitment. The Commission urged the public to exercise extreme caution to avoid potential financial loss.