Public Notice No. 3 of 2025 – Incomemax

SECURITIES COMMISSION OF THE BAHAMAS PUBLIC NOTICE No. 3 of 2025 10 April 2025 RE: INCOMEMAX INCOMEMAX FINANCIAL ENROLLMENT INVESTMENT This NOTICE is issued by the Securities Commission of The Bahamas (the Commission) pursuant to its authority 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 Acts). It has come to the attention of the Commission that Incomemax may be conducting activities in or from within The Bahamas, that are either registrable/licensable or illegal under one or more of the Acts. The Commission hereby advises the public that Incomemax and its agents/representatives are not registered with or licensed by the Commission. Furthermore, its activity may be such that it constitutes a violation of one or more of the Acts. BACKGROUND Incomemax appears to be an organization that purports to act as an investment platform. The entity is very active on social media, most notably Instagram, Facebook and Telegram. Individuals are being solicited to join the platform by sending a minimum of one hundred fifty ($150) dollars to the entity in the form of crypto currency. Individuals are told that once the requisite deposit is made, they would then be able to withdraw one thousand five hundred ($1,500) dollars per $150 deposit. This activity by Incomemax has the hallmarks of a Ponzi scheme which is a Financial Scheme, defined by the Financial and Corporate Service Providers Act, 2020. This renders it an unlawful operation in this jurisdiction. WARNING Individuals conducting business with Incomemax or its agents/representatives, should be cognizant that they are doing so with an entity and/or its agents who are not authorized or regulated by the Commission and from all indications, the entity is an unlawful operation. Persons who are considering whether to

2 conduct business with Incomemax should exercise extreme caution considering the disclosures herein and avoid potential financial loss. The public is again urged to review the Commission’s Public Notices, No. 11 of 2020 (14 September 2020) which outlines pyramid and Ponzi schemes, and No. 3 of 2022 (22 March 2022) which explains Financial Schemes. Both pyramid and Ponzi schemes fall within the definition of Financial Schemes, all of which are unlawful and could result in criminal prosecution. The Notices may be accessed via the following links: • https://www.scb.gov.bs/wp-content/uploads/2020/09/Public-Notice-Family-Foundation-Sou￾Sou-14Sept20.pdf • https://www.scb.gov.bs/wp-content/uploads/2022/03/SCB-Public-Notice-No.-3-of-2022- Financial-Schemes-Are-Unlawful.pdf Listings of the Commission’s registrants and licensees that are authorized to engage in regulated activities, in The Bahamas, are located on the Commission’s website at https://www.scb.gov.bs/registrant-licensee￾search/ . Should you have any complaints and/or any information pertaining to this entity, please contact: Enforcement Department Securities Commission of The Bahamas E-mail: info@scb.gov.bs or enfdept@scb.gov.bs