Solex Global has been identified as a risky opportunity by Intelligence Commissioner users. It is similar to Givvo. We’ve received over 3 complaints against Solex Global.
Solex provides an in-depth exploration of its operations, leadership, and commitment to regulatory compliance. It is concerning that Solex Global’s ownership is not transparent, especially considering that Kaj Larsen is referred to as the CEO and Loran Swensen as President. Swensen’s affiliation with Innergy Development, a company that sells expensive health products with questionable claims, combined with his controversial history, only heightens concerns. Solex Global’s approach raises concerns about its legitimacy due to the lack of regulatory compliance, which should be a red flag for both potential affiliates and consumers. It is important to exercise caution when considering involvement with this company.
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Key Takeaways
Is Solex Global Regulated? Do They Have a License?
This in-depth look at Solex Global looks at how it works, who runs it, what products it sells, and how well it follows the rules. Kaj Larsen, who is called the CEO, and Loran Swensen, who is called the President and works out of Utah, are two important people.
Even though Larsen’s MLM background isn’t available, Swensen’s complicated and troubled past, which includes his ties to Innergy Development, raises serious concerns.
Solex Global is an MLM company based in Utah that doesn’t show its ownership or executive team clearly on its website. Solex Global’s website has blog posts that connect Kaj Larsen to the job of CEO and Loran Swensen to the role of President.
Swensen, who is also the CEO of Innergy Development in Arizona, sells goods that are supposed to improve overall health, but they make medical claims that aren’t very convincing and cost a lot of money.
In his career, Loran Swensen has started a 3D animation video business and BioPulse, a company that got into trouble when it offered illegal treatments for serious illnesses in a clinic in a Tijuana hotel. The medical community looked closely at this project, and finally the FTC took action for false claims and unsafe treatments.
The lack of regulation or the presence of poor regulation is a huge red flag. It means Solex Global is a scam and most likely, an illegal operation.
Companies offering investment services or opportunities without having a license can vanish without leaving a trace. Furthermore, the lack of a regulatory license allows them to get away with it and face no legal consequences.
That’s why it’s vital for you to always check a company’s regulation status as well as its license information. The presence of a license allows consumers to reach out to an authority if something goes wrong.
In the case of Solex Global, victims have nowhere to go due to the absence of a watchdog or license.
You should ask yourself the following questions when you come across a new investment firm or opportunity:
- Does the investment provider maintain transparency about its CEO?
- Do they have a license from a renowned regulatory authority?
- If the need arises, can I reach out to an authority to report this company as a scam?
Trading Conditions and Deposit/Withdrawal Methods at Solex Global
Swensen’s Innergy Development sells pricey health items like the Theta Chamber and the Inner Light LED Bed that they say are very good for you. These items don’t have FDA approval or scientific proof, which makes people wonder about their safety and effectiveness.
BioPulse, which Swensen helped to start, started giving controversial medical treatments in Mexico. It got a lot of attention for doing things that were illegal and dangerous and not having any medical licenses. Even though Swensen was facing closure and legal action, including a case from the Federal Trade Commission for fraud, he continued to work on questionable health-related projects.
Solex Global has been around since 2021 and promotes “AO Scan Technology” as a new and improved health tool. However, the company’s legitimacy and compliance with regulatory standards are called into question by the fact that it is not clear who owns the business and its goods are very expensive with questionable claims of their effectiveness.
Concerns have been raised about Solex Global’s compensation plan, which depends on affiliates buying things and getting new ones to join. The link to Loran Swensen, who is being sued by the FTC, makes Solex Global’s regulatory position even more difficult. The fact that the company says its goods have health benefits that haven’t been proven could be against FTC rules.
However, it’s worth noting that many scammers disable their payment channels before shutting down their operations.
They might give you multiple reasons including:
- A technical error
- A glitch in their system
- Banking issues
- A “hacking attack”
And many others.
But in 9/10 cases, the scammers actually stop making payments and keep the money to themselves. Hence, the payment methods we discussed here might not work.
If you want to get your money back from a scammer, you’d need to file a chargeback.
Solex Global Customer Service: Do They Handle Complaints Well?
When it comes to scammers, you should only measure the quality of their customer service if they respond to your complaint.
In the beginning, scammers tend to remain very accessible.
This means their representatives will keep calling you until you invest with them. Furthermore, they will act friendly and make it seem as if you’re one of their most valuable consumers.
However, they do all this just to win your trust.
Scammers understand that in order to convince someone to give them a large sum, they will need to seem like a friend.
Nevertheless, when you have invested a considerable amount of money and need to get it back, their customer support will become inaccessible.
All of a sudden, their numbers would either stop responding or become unavailable.
Still, they might remain accessible to convince you to invest further. Also, they might begin by making a few excuses regarding your payment.
However, in the end, the customer support won’t resolve your issues and become increasingly unavailable.
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Solex Global Reviews: What Do Others Say?
It’s worth noting that many scammers tend to purchase fake reviews. Buying fake reviews has become extremely easy and it’s a multi-million dollar industry.
Scammers like Solex Global tend to purchase fake reviews for their online profiles to make themselves seem more credible.
TIME Magazine investigated the fake review industry and estimated it to be worth more than $150 million. Certainly, there are a ton of scammers who want to seem legitimate and a bunch of fake reviews is the most effective way to do so.
That’s why you shouldn’t trust Solex Global reviews easily.
It’s easy to identify fake reviews as well. You should look out for 5-star reviews that are posted by temporary accounts (profiles which only posted 1 or 2 reviews on the platform). Also, you should see if the positive reviews share any detailed information about their experience with the firm or not.
In the case of Solex Global, chances are, you wouldn’t find many legitimate reviews.
Another prominent way scammers like Solex Global enhance their credibility is by burying negative reviews and complaints under a lot of fake reviews.
This way, when you’ll look up “Solex Global reviews”, you might not find many complaints. Or, you might find them buried within numerous reviews praising Solex Global.
You should always look out for consumer complaints. In the case of Solex Global, the most common complaints I found were about:
- Poor customer support
- Delays in payments
- High fees and charges
- Lack of transparency regarding their leadership team
- Aggressive sales staff
Do you have a similar complaint about Solex Global? You can share your complaint in the comment section or submit an anonymous tip.
Is Solex Global Legit Or Scam?
Loran Swensen runs Solex Global, which is in a gray area when it comes to its MLM model, product claims, and following the rules set by regulators.
There are big moral and legal questions about what the company does, especially when it promotes health goods without scientific proof. Because of this, people who want to work with or buy from Solex Global or its products should be careful and do their research first.
Solex Global is an unregulated entity. Although they might fall under the jurisdiction of a watchdog, they don’t have the license to offer financial services to consumers.
The lack of a license means they are not answerable to any regulatory authority. As a result, the people behind Solex Global can run away with your money without any prior notice. You should be extremely cautious when dealing with an unregulated service provider.
The absence of a watchdog also means you cannot report to them to anyone.
Also, due to the absence of specific regulations, there is no provision protecting you from the insolvency of this entity. If they go bankrupt, you won’t be able to do anything about it.
Can You Trust Solex Global?
All the evidence suggests that Solex Global is a scam. If you have lost money to them, there is still a chance you can get it back.
To recover your funds, you’d need to file a chargeback.
Frequently Asked Questions
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How The Solex Global Online Scam Works
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