Attorney General Weiser launches crackdown on fraudulent Colorado businesses tied to national and international scam networks

Attorney General Weiser launches crackdown on fraudulent Colorado businesses tied to national and international scam networks

Actions target thousands of fraudulently filed entities, including those linked to cryptocurrency scams, investment fraud, romance scams, and other unlawful activities

May 21, 2026 (DENVER) - Attorney General Phil Weiser today announced a major enforcement sweep targeting thousands of allegedly fraudulently filed businesses, many of which used Colorado registrations to help facilitate scams and other unlawful activity.

The lawsuits seek court orders to dissolve thousands of allegedly fraudulent businesses registered in Colorado that attorneys say were created using false information, including the unauthorized use of Colorado residents' home addresses as purported business locations and the unlawful use of virtual mailboxes as registered agents without consent. Colorado homeowners allegedly had fraudulent businesses registered to their addresses without their knowledge, resulting in unwanted mail, complaints, and confusion tied to businesses they had no connection to.

According to the complaints, the entities were connected to broader fraud schemes operating across the United States and internationally, including networks based in China and Southeast Asia. The entities are linked to cryptocurrency scams, investment fraud, romance scams, and online retail scams. Victims in some cases allegedly lost tens or hundreds of thousands of dollars after relying on Colorado business registrations and "good standing" certificates before sending money to fraudulent businesses.

"These scams succeed because they manufacture trust. Fraudsters exploited Colorado business registrations to make their operations appear legitimate and convince consumers to hand over their money," said Attorney General Weiser. "These scams are becoming more sophisticated, more convincing, and more financially devastating. Consumers should be especially cautious when approached online with investment opportunities, cryptocurrency trading platforms, or requests to move money quickly. A business registration alone does not guarantee a company is legitimate."

Businesses named in the actions

The lawsuits include actions against:

• Xinbi Co., Ltd., an alleged cryptocurrency marketplace tied to billions of dollars in transactions connected to fraud and money laundering activity.
• Neex LLC, an alleged imposter of a legitimate investment website that successfully took hundreds of thousands of dollars from consumers.
• Garrettforu LLC, an alleged fraudulent registered agent for over 300 entities that claimed to have set up operations at a single-family home in Teller County.
• Thousands of entities associated with virtual mailbox addresses at 1312 17th Street in Denver.

The complaints describe a range of alleged harms stemming from these fraudulent formed entities, including:

• A Colorado senior lost more than $100,000 in a cryptocurrency investment scam tied to Neex LLC, an imposter of a legitimate investment website.
• A Cripple Creek family discovered 370 businesses registered to their home address without their knowledge or permission.
• Consumers lost tens of thousands of dollars after being persuaded through dating apps, WhatsApp, and online investment groups to invest in cryptocurrency platforms tied to Colorado business registrations.

How the alleged schemes worked

According to the complaints, many of the businesses followed the same pattern: register a business in Colorado using false or unauthorized address information, obtain "good standing" status from the Colorado Secretary of State, and use that apparent legitimacy to persuade consumers to trust investment or cryptocurrency platforms or send money to fraudulent operations.

Some companies also allegedly used Colorado registrations in conjunction with federal filings or registrations, including registering as Money Services Businesses with the U.S. Department of the Treasury or filing notices with the U.S. Securities and Exchange Commission.

In addition to the dissolution actions, the Attorney General's Office worked with platform hosts to take down websites connected to 11 fraudulent businesses, including Cain & White LLP, Chuangli Cross-border E-commerce Co., Ltd., FireX21 Capital Ltd, Hesse Capital Inc, Keex Pro Inc, KWN Exchange, Liska Finance Investments Inc, Neex LLC, UIFCA Wealth Academy Ltd, XCEXUS INC, and Xinbi Co., Ltd. The websites included cryptocurrency investment platforms and websites impersonating legitimate entities.

How consumers can protect themselves

Artificial intelligence has made scams dramatically more convincing. Criminals can now imitate voices, create fake videos, write realistic emails, clone websites, and impersonate trusted people with alarming accuracy. A few consistent habits can significantly reduce risk.

The attorney general encourages consumers to:

• Be skeptical. Be cautious of unsolicited investment opportunities, especially those promoted through social media, messaging apps, dating apps, or online contacts you have never met in person.
• Slow down. Scammers often create urgency and pressure consumers to act quickly before they have time to think, research, or verify information.
• Don't rely on business registrations alone. A business registration or certificate of good standing does not guarantee that a company is legitimate, reputable, or safe to send money to.
• Be wary of cryptocurrency transactions and Crypto ATMs. Scammers frequently direct consumers to move money through cryptocurrency platforms or Crypto ATMs because the transactions are difficult to reverse or trace.
• Research before sending money. Independently research businesses and investment opportunities before investing, and be skeptical of promises of unusually high returns with little or no risk.

Consumers who believe they have been targeted by a scam can file a complaint, and all consumers can find additional information about how to recognize, avoid, and report scams at StopFraudColorado.gov (opens new window).

The complaints filed by the Colorado Attorney General's Office include:

• Xinbi Co., Ltd. (PDF)
• Neex LLC (PDF)
• Garrettforu Limited Liability Company, et al. (PDF)
• 3607-2199 HY Limited, et al. (PDF)
• LIVDRONE Global Trade Inc., et al. (PDF)
• 360 Photo Sphere Studios Inc., et al. (PDF)
• (SYT) Football Ltd., et al. (PDF)
• Machlogic Technology Co. Ltd., et al. (PDF)
• Abbywake Inc., et al. (PDF)

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Media Contact:
Mallory Boyce
Communications Specialist
720-219-1898 (cell)
[email protected]