Pyramid scheme promoter ordered to pay fine totalling millions of dollars

Shelly Cullen promoted the global cryptocurrency-based pyramid scheme Lion’s Share to Māori and Pasifika communities in New Zealand during 2020 and 2021.

At the District Court sentencing Cullen’s description of herself was: “I am the biggest scammer out there. You know. But you can have hackers out there, you have the good hackers, and you have the bad hackers. You have the good scammers and then you have the bad scammers. I am, and I am proud to say it, I am a good scammer. They can do nothing to me. Guys I am not even worried. They can’t do anything to me. I am gonna continue doing what I do.”

Cullen was fined $600,000 and ordered to pay more than $5.3 million to reflect the value of the commercial gain she made through the scheme.

Commerce Commission deputy chairwoman, Anne Callinan, says the commission is pleased the significant sentence reflects the level of harm caused by pyramid schemes - 83% of participants in Lion’s Share worldwide lost money.