The ruling, released on Feb. 11, 2025, confirmed that the SEC had the authority to shut down the company’s unregistered investment operations, which promised returns of 25 to 35 percent through product discounts, recruitment bonuses, and other incentives.
Investigations revealed that 1UP Time used a binary recruitment system, making it operate like a pyramiding scheme, without the proper SEC registration to sell securities.
The SEC made the CDO permanent in April 2024, after finding that the company’s business model posed a serious risk of fraud and financial losses to investors.
Company president Julius Allan Nolasco was also previously involved with Alphanetworld Corp., another entity shut down for illegal investment activities.
