Ryan Carroll

Quick summary on Ryan Carroll

Ryan Carroll’s Wealth Assistants promised effortless passive income through managed Amazon stores, but instead, it became a catastrophic fraud that swindled investors out of millions. Targeting individuals seeking financial freedom, the scheme lured victims with false assurances of fully managed eCommerce businesses, high returns, and hands-off profits.

Deceptive Promises and Nonexistent Returns: Investors, some paying up to $125,000, were guaranteed Amazon stores generating over $10,000 monthly. Instead, they received either nonexistent businesses, empty inventories, or meager profits that never reached promised levels. When confronted, Carroll and his co-conspirators—Max K. Day and Max O. Day—deflected with excuses like “supply chain issues” to buy time while continuing to drain their victims’ bank accounts.

Lavish Spending and Fraudulent Operations: Rather than fulfilling their obligations, Carroll and his team funneled investors’ money into personal luxuries, including expensive cars and high-end lifestyles. Shell companies such as Yax Ecommerce LLC and WA Distribution LLC were used to conceal fraudulent financial activities. As victims struggled to reclaim their funds, Carroll flaunted his wealth, adding insult to injury.

Wealth Assistants Collapses, But the Fraud Continues: By October 2023, amid mounting complaints, Wealth Assistants abruptly shut down, offering no refunds to victims. However, Carroll and his associates attempted to continue their deception under new brands like Quantum Ecom and Wholesale Universe, further preying on previous victims.