Mario Nawfal, an entrepreneur who has seen a rapid rise in popularity on Twitter’s audio platform, is facing federal scrutiny over allegations of financial impropriety.
According to sources cited by NBC News, reports suggest that the FBI and the SEC are looking into complaints made against Nawfal, who has built an impressive following with over 913,000 Twitter users, partially due to his interactions with Elon Musk.
Retired US Air Force analyst Chet Long— a former advisor for Nawfal, reported to the US consulate in Calgary, the FBI, and the SEC in December that Nawfal refused to pay him the money he was owed, accusing him of embezzling funds from a company during his tenure as CEO. Nawfal, however, denied the claims, stating there was “no outstanding debt owed” to Long. The FBI reportedly instructed Long to preserve a cellphone as potential evidence.
Another former contractor, Sigmund Holtz, confirmed that he was contacted by SEC employees for specific information about Nawfal. However, Nawfal responded that he had maintained an “impeccable record devoid of any legal proceedings, whether civil or criminal” over his decade-long business career, dismissing allegations of any involvement with law enforcement as “blatantly false.” Neither the SEC nor the FBI have provided comment.
Nawfal’s significant online presence is marked by his hosting of large-scale Twitter Spaces discussions, even garnering public recognition from Elon Musk. Despite his online success, he has faced increasing scrutiny from former employees, contractors, and clients who have made public allegations of fraud and business misconduct.
Frank Heijdenrijk, Nawfal’s former chief marketing officer at International Blockchain Consulting Group, claimed Nawfal owes him back pay totalling $60,000, and alleged that Nawfal embezzled money and manipulated his listener numbers using low-quality, paid accounts. Heijdenrijk reported Nawfal’s actions to various authorities, including the Dutch police, the SEC, and the German stock exchange.
Nawfal denied Heijdenrijk’s allegations and accused him of extortion, asserting that he was considering legal action. He also claimed that his company had agreed to pay Heijdenrijk for hours worked after a funding round was completed, but refused payment when Heijdenrijk allegedly demanded immediate payment contrary to their agreement. Heijdenrijk, however, has received an arbitration request from Nawfal’s company for breaching a nondisclosure agreement.
In addition, Nawfal has been criticized by YouTube personality Chris Zarzewski over allegations of fraud. Zarzewski revealed that Nawfal threatened to sue him, although he never received notice of a formal suit. Nawfal claimed Zarzewski’s video was based on false or incomplete information and said he was considering legal action.
Despite the accusations, Nawfal maintains that both Long and Heijdenrijk are “disgruntled” and “outliers in an otherwise harmonious professional trajectory.”
Information for this story was found via NBC News and the sources mentioned within the article. The author has no securities or affiliations related to the organizations discussed. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
