Published Investigation

Corporate Concealment: ENDS Brand Using Registered Agent Chains

Beneficial ownership analysis of a popular ENDS brand

Report ID CPM-2025-003
Published January 16, 2026
Subject Concealed ENDS Brand
Status Active
Agencies Notified FDA, CBP, TTB

Executive Summary

A popular ENDS brand is using layered LLC structures and professional registered agents to obscure the true beneficial owners. This corporate concealment strategy is designed to evade regulatory accountability.

Key Findings

  1. Layered LLC Structure — Four shell companies in three states with a common beneficial owner.
  2. Registered Agent Chains — Professional registered agents used at every level to prevent tracing.

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