When financial regulators in Quebec issue a five-figure penalty against a multi-level marketing promoter, it’s not just a slap on the wrist, it’s a signal. In the case of iGenius, the message from the Authorité des marchés financiers (AMF) is unmistakable: if you promote unregistered financial products in the province, you will be held accountable.

In early 2026, he AMF fined Sabrina Cyr-Vidal, an iGenius promoter, $15,000 CAD for illegally marketing the company’s financial offerings in Quebec. The penalty was disclosed directly in Investview’s SEC filings, confirming that the enforcement action was part of a broader investigation into iGenius’s activities in the province.

This case is not an isolated incident. It is the latest chapter in a long-running conflict between iGenius — a company that markets itself as a financial education platform — and regulators who argue that its products look, act, and function like unregistered investment tools.

The AMF’s Case Against iGenius

According to Investview’s own disclosures, the AMF initiated securities-fraud proceedings against both iGenius and Cyr-Vidal in 2024. Regulators Alleged that the company was engaging in securities activity without proper registration, and that Cyr-Vidal had made “inappropriate marketing communications” while promoting iGenius’s financial tools.

The AMF’s concerns were not limited to one promoter. They were structural.

iGenius offers access to a suite of financial tools, including automated crypto-trading software operated by third-party companies. These tools — powered by AI and marketed as a way to trade crypto assets without human intervention — fall squarely within Quebec’s tightly regulated financial framework.

In 2025, the Tribunal administratif des marchés financiers (TMF) approved An Agreement requiring iGenius to block access in Quebec to two automated crypto-trading platforms offered through its membership system. These platforms, operated by Endotech and Coinrule, allowed users to trade crypto assets using algorithmic automation.

The TMF’s order made it clear: iGenius was not authorized to offer these tools to Quebec residents, regardless of how the company framed them.

A Pattern of Regulatory Scrutiny

This was not the first time iGenius had appeared on the AMF’s radar. As early as 2022, the regulator issued public warnings stating that iGenius, Investview, and Kuvera LLC were not registered to solicit to investors in Quebec. The alerts cautioned consumers that the companies appeared to be engaging in unlicensed security activity — a serious allegation in a province known for strict financial oversight.

By the time Cyr-Vidal was fined, the AMF had already spent years monitoring the company’s operations.

Investview ultimately settled with the AMF in 2025, but the enforcement actions did not stop there. The fine against Cyr-Vidal demonstrates that regulators are willing to pursue individual promoters, not just the corporate entity behind them.

Significance Goes Far Beyond Penalty

The significance of this case goes far beyond a $15,000 penalty.

iGenius has long marketed itself as a financial literacy and education platform, but its product suite — which includes trading tools, crypto bots, market alerts, and algorithmic software — has repeatedly drawn scrutiny for resembling unregistered investment services. The company’s MLM structure adds another layer of complexity, as promoters often make exaggerated claims about potential earnings, trading success, or financial transformation.

The AMF’s actions send a clear message: If a company walks like a financial service, talks like a financial service, and charges like a financial service it must be registered as one.

And if its promoters cross the line into securities territory, they will be held personally responsible.

This case also highlights a broader trend: MLMs are increasingly moving into the financial and crypto sectors, where the regulatory stakes are far higher than in traditional product-based MLMs. When the “product” is financial advice — or anything that resembles it — the consequences of misleading consumers can be severe.

MLMs and the Financialization of Hope

iGenius is part of a growing wave of MLMs that have shifted away from selling physical goods and toward selling financial dreams. Instead of shampoo or supplements, they sell:

  • “market eduction”
  • “crypto legacy”
  • “AI trading tools”
  • and “wealth-building systems.”

But the psychology is the same. These companies target people who fee left behind by traditional finance — people who want a better life, more income, or a way out of economic stagnation. The promise is empowerment. The reality, as regulators keep pointing out, is often unregistered financial activity dressed up as education.

The AMF’s enforcement actions against iGenius are not just about compliance. They are about protecting consumers from a business model that blurs the line between mentorship and investment advice, between education and solicitation, between opportunity and risk.

Regulators Are Watching

The Fine against Sabrina Cyr-Vidal is a small number with big implications. It signals a shift in how regulators view MLMs operating in the financial sector — not as harmless “education platforms,” but as potential sources of unregistered investment activity that can mislead consumers and expose them to significant financial risk.

As MLMs continue to pivot into crypto, trading, and financial tools, cases like this will only become more common. And regulators, especially in provinces like Quebec, are making it clear that they are watching.

By Beth Gibbons (Queen of Karma)

Beth Gibbons, known publicly as Queen of Karma, is a whistleblower and anti-MLM advocate who shares her personal experiences of being manipulated and financially harmed by multi-level marketing schemes. She writes and speaks candidly about the emotional and psychological toll these so-called “business opportunities” take on vulnerable individuals, especially women. Beth positions herself as a survivor-turned-activist, exposing MLMs as commercial cults and highlighting the cult-like tactics used to recruit, control, and silence members.

She has contributed blogs and participated in video interviews under the name Queen of Karma, often blending personal storytelling with direct confrontation of scammy business models. Her work aligns closely with scam awareness efforts, and she’s part of a growing community of voices pushing back against MLM exploitation, gaslighting, and financial abuse.