HONOLULU (HawaiiNewsNow) – State officials ordered BG Wealth Sharing and two women to stop soliciting investors, as federal investigators also move in on what some authorities describe as a cryptocurrency pyramid scheme.

BG Wealth Sharing has been operating in Hawaii with small initial investments, promises of wealth and incentives for recruiting new members, according to state regulators.

Joy Arcenas, who is from California, posted a video in January saying she was in Honolulu to do training for top leaders and members. Her Instagram includes posts of BG investment parties across the West, where people hear a story that started with $333.

“That $333 brought me to a level seven at $4,100 a day and now with $30,000 a month,” Arcenas…