HotNews No. 125: Avlitex Securities Scam Warning from Canada – Another Ponzi Scheme with a Fake CEO

Regulators in Canada, specifically the Ontario Securities Commission (OSC), have issued an official fraud warning against Avlitex, a company falsely claiming to be registered and authorized to trade securities.

What did the OSC find?
Avlitex is not registered to conduct securities trading in Ontario, meaning it operates without legal authorization. Two of its website domains (“avlitex.global” and “avlitex.com”) have been disabled, while a new domain (“avlitex-global.com”) was privately registered in February 2025.

Who is behind Avlitex?
The company’s so-called CEO, Raymond Norbery, turns out to be a fake identity played by an actor with an Eastern European accent. Avlitex is just another Russian/Ukrainian MLM Ponzi scheme run by actors and fake personas.

How does the scam work?
Initially, Avlitex promoted itself as a crypto mining scheme but later shifted to a scam based on exiting “shitcoins.” In a promotional video posted on their official YouTube channel, Norbery presents the company’s vision and plans for launching AVL tokens. It is expected that investors’ funds will be converted into these tokens before Avlitex and the scammers disappear.

Traffic and significance of the warning
According to SimilarWeb data, Avlitex’s website receives only 625 monthly visits as of May 2025, with 89% coming from Vietnam and the remainder from French-speaking investors in France. The French-speaking investor base is likely why the Ontario regulator issued the fraud warning.

Why does this matter?
Avlitex is yet another example of scammers using sophisticated marketing tactics and fake identities to lure investors worldwide. While regulations are tightening, it remains crucial for investors to stay alert and avoid falling for false promises.

Your DefendMe team