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Saturday, August 31, 2024 7:38:15 PM
It is noted that a "disclaimer" was recently added to the start of the video, which is an implicit acknowledgment by the company the advertisement was initially published in violation of the rules. However, the disclaimer - which is in very small print and impossible to read is clearly materially misleading.
Nowhere does Mr. McGahan mention the company is actually not licenses to sell any lottery tickets in the U.S., he does not mention the tremendous exposure of pending litigation (including fraud charges against him personally), he does not address the fact that the company is under investigation, etc. He also yammers about having a "family office" in London, when reports are it is a rented desk and has been banished from 18 Savile Row, London W1S 3PR, UK due to his inability to generate timely rent payments.
The rules about "advertising" are clear. I post them below again for your review. It is the opinion of many that this paid video is not in compliance with the rules noted below as they pertain to public companies
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