Following Premier Bet’s clarification that they have nothing to do with the company, Crowd1 has ditched it’s gambling revenue ruse.

The company now claims to be an generating revenue via app sales.

Oh and of course withdrawals have stopped too. Ruhroh!

Crowd1’s original Ponzi ruse was that they were generating revenue via online gaming.

Crowd1 claimed one of its major gaming partners was Premier Bet.

Earlier this month however Premier Bet confirmed they had no partnership with the company.

A few days after that story broke, Crowd1 deleted any reference to gaming on its website.

Here’s the story they came up with to replace it;

Crowd1 has recently been acquired by a European company: Impact Crowd Technology S.L. (ICT).

One of ICT’s objectives is to supply Crowd1’s members with a library of products, apps, software and services to recommend and sell.

For each sale, Crowd1 members will receive a commission.

ICT’s vision is to build the largest sales network in the world with the mission to disrupt the software distribution industry by allowing developing countries – compared to the western world – to access software they normally would have to wait up to 10 years to get.

ICT has its own website over at “impactct.com”. The domain registration was recently updated on January 21st, 2020.

A visit to the Wayback Machine confirms that prior to this date, the domain was for sale.

What this means is that ICT didn’t exist until a month and a half or so ago.

Both Crowd1 and ICT represent they are based out of Spain, through Impact Crowd Technology SL.

Perusal of the shell company registration for Impact Crowd Technology SL, reveals it is run by Scandinavian serial scammers:

We first reported on Jonas Erik Werner’s involvement last November, following confirmation of Norway’s Crowd1 investigation.

Werner operates Crowd1 from Stockholm, Sweden.

Rather than front Crowd1 himself, Werner pays Johan Staël von Holstein to be the face of the company.

Another name to note on Impact Crowd Technology SL’s incorporation listing is Tor Anders Petteroe.

Tor Anders Petteroe is the CEO of Towah Group, a payment processor responsible for millions of dollars in Ponzi losses over the years.

Although we can’t say for sure, Petteroe is likely behind laundering money invested into Crowd1.

We last came across Petteroe back in 2017 through Titus Community.

Titus Community promoted Titus Coin Ponzi points, and appears to have collapsed late last year.

Although Crowd1 is pushing ahead with their hastily put together app narrative, posts on the company’s official Facebook page suggest a collapse.

The earliest complaints of non-payment appear to be backdated about five weeks:

This coincides with a flatline in Crowd1 website activity, meaning recruitment has slowed down too:

Ponzi schemes like Crowd1 require ever increasing recruitment to pay out, explaining the schemes collapse.

Unfortunately regulators in Spain or Scandinavia, outside of Norway, have taken any action against Crowd1.

Crowd1 primarily targets and has scammed victims across Africa, namely South Africa.

Coinciding with recruitment leveling off in South Africa, Russia and Cote d’Ivoire have emerged as alternative sources of new recruits.

To date South African authorities have taken no action against Crowd1 or any local promoters.