Eaconomy, a multi-level marketing (MLM) company founded by Hassan Mahmoud, has been at the center of multiple controversies ranging from securities fraud to unethical manipulation of its network. This investigative article unpacks the allegations and patterns that have raised questions about its legitimacy and the practices of its leadership.
Eaconomy’s Business Model
Eaconomy offers two primary subscription models, Eminus and Manara, both centered around forex trading and AI-driven trade ideas. Their flagship product, “Aithena,” is an automated trading bot included in premium subscriptions. However, the platform’s operations have sparked legal scrutiny, with allegations of securities violations in multiple countries, including the UK and Czech Republic. These allegations stem from the company’s failure to register for offering securities, as required by law.
History of Fraud Allegations
- Unpaid Commissions: Eaconomy has been accused of withholding payments to its affiliates, causing financial losses to those who invested time and effort in promoting the platform. Many distributors reported abrupt terminations of their accounts, often without just cause or notice, leaving them with no access into their earnings.
- Securities Fraud: Authorities in multiple jurisdictions have flagged Eaconomy for selling unregistered securities under its premium packages. The company’s failure to comply with financial regulations raises red flags about its operational transparency.
- Ponzi Scheme Accusations: Critics argue that Eaconomy operates under a structure resembling a Ponzi scheme, relying heavily on new member acquisitions to sustain payouts rather than legitimate trading profits.
Hassan Mahmoud’s Role
Hassan Mahmoud, the founder, has faced significant backlash for his involvement in these practices. Mahmoud has a documented history of financial misconduct, including a $75,000 fine by the U.S. Commodity Futures Trading Commission (CFTC) in 2019 for commodities fraud. His leadership style and decision-making have contributed to the mounting skepticism surrounding Eaconomy’s operations.
Hassan Mahmoud’s Paid Articles For Credibility
While investigating Hassan Mahmoud’s case, we came across a series of paid-for media articles to look out credible.

He flaunted a Forbes feature on his Instagram profile, while in reality, it was a mention that was paid for, which usually costs between $500-$1000, offered by most PR agencies.
Later we found another article in The Statesman, an Indian publication which he paid to get as mentioned as ‘Advetorial’ and boasting it to portray himself as an intellect and knowledgeable person. This article costs between $100-$200

Victims Speak Out
Disgruntled affiliates and former leaders have shared troubling accounts of their experiences:
- Fernanda Vera, an affiliate from Texas, alleged that her organization was restructured without consent to benefit higher-ranking members. She also accused Mahmoud of inaction despite clear evidence of malpractices within the hierarchy.
- Julio Lama, another prominent figure, reportedly saw sudden increases in his commission, raising questions about artificial rank manipulation.
Regulatory and Ethical Concerns
Eaconomy’s opaque business practices and disregard for legal compliance highlight deeper issues:
- Non-Transparent Pricing: The lack of clear pricing on its services adds to the confusion for potential customers and investors.
- Global Fraud Warnings: Regulatory bodies in New Zealand, the UK, and other countries have issued public warnings about Eaconomy’s operations, urging consumers to exercise caution.
Q&A for Exploration of the Case
What is Eaconomy’s primary business model?
Eaconomy offers forex trading tools and subscriptions, including AI-based trade bots like “Aithena.” The company’s MLM structure incentivizes recruiting new members over actual product value.
Why has Eaconomy been accused of fraud?
Allegations include unpaid commissions to affiliates, illegal securities sales, and structuring bonuses to benefit select individuals rather than reflecting legitimate trading success.
What actions have regulators taken against Eaconomy?
Authorities in the UK, Czech Republic, and other jurisdictions have flagged Eaconomy for securities fraud. Hassan Mahmoud himself faced a $75,000 fine for prior financial misconduct.
How has Hassan Mahmoud responded to these allegations?
Despite mounting evidence and complaints, Mahmoud has remained largely silent or dismissive, leading critics to accuse him of ignoring ethical and legal responsibilities.
What should potential investors or affiliates know?
Investors should exercise extreme caution due to Eaconomy’s history of fraud allegations, regulatory warnings, and lack of operational transparency.