Crowd1 securities fraud warning issued in the Philippines
The Philippine SEC has issued a securities fraud warning against Crowd1.
As per an investigation into Crowd1 by the SEC, the regulator found
it is apparent that the business of CROWD1, while undoubtedly a pyramiding scheme, is a securities offering through an investment contract.
Furthermore, the use of the product or the online gaming is a front to entice the public to invest and to hide the recruitment aspect of the modus operandi of the company.
This is in line with BehindMLM’s Crowd1 review, published last August.
The SEC notes the registering of a shell entity known as Crowd1 Asia Pacific Inc last October.
Since registering however, Crowd1 Asia Pacific has not registered a securities offering with the SEC.
Registration grants juridical personality to the corporation but does not authorize it to issue, sell or offer for sale securities to the public nor to undertake business activities requiring a secondary license from the Commission.
In light of Crowd1 operating illegally in the Philippines, the SEC warns
CROWD1 ASIA PACIFIC INC. is not authorized to solicit investments from the public, not having secured prior registration and/or license to sell securities or solicit investments.
Crowd1 has no corporate operations in the Philippines. Local promoters of the scheme however face fines of 5 million PHP (~$415,000 USD), or a twenty-one year prison sentence.
In view thereof, the public is hereby advised to exercise caution in dealing with any individual or group of persons soliciting investments for and on behalf of CROWD1 ASIA PACIFIC INC.
The public is further advised NOT TO INVEST or to STOP INVESTING in the investment scheme being offered by the subject entity or its representatives.
Crowd1 is not registered to offer securities in any jurisdiction. The company operates illegally the world over.
The Philippines fraud warning follows a similar warning issued by Paraguay last month. Namibia also banned Crowd1 back in February.
Norway reported they are investigating Crowd1 last November. Since then however there have been no further developments.
Crowd1 is owned by Jonas Erik Wener. The company is operated by CEO Johan Stael Von Holstein from Sweden.
To date Swedish authorities have taken no action against Crowd1.
Update 20th July 2020 – As of July 20th Crowd1 has been permanently banned in the Philippines.
I hope they can put behind bars these type of individuals scheming hard earn money.
Thanks admin for the news. Its really interesting to read articles here.
Rach David (LEO Director) was my upline in LEO, she had been inviting all my downline to Crowd 1. She has all contact numbers of all my downline.
It is likely that Dan Andersson is also behind Crowd 1 because he is from Sweden and CEO of Crowd 1 is also from Sweden.
LEO didn’t pay commission to me and all my downline and now they move to Crowd 1 to scam all Philipino people and Rach David is no 1 scammer.
You sure your LEO upline didn’t just herd their downline into Crowd1?
I haven’t seen anything indicating Andersson is involved in Crowd1.
One of my team heard Rachiele on zoom call mentioning that Magnus Larson and Dan Anderson are behind her in Crowd 1.
She said Dan is not showing face for a short period because of closing LEO. I am waiting for recording of the call.
Rach and Eric are becoming top promotors of Crowd 1 in Philippines. It will be a matter of short time before they will either pay a fine of 5 million PHP or a twenty-one year prison sentence.
I don’t see that Swedish authorities would take action against Crowd1. It does not seem to be widespread here.
Swedish authorities was never able to do anything even about OneCoin.
Hello there 🙂
Johan is not the SEO anymore ! It seems they move it for the seat
(scroll down on the website to see the director seat etc)
And they bring back someone called Tor Petteroe… Sound familiar ? haha
this all scam will collapse soon 🙂
A recording of that call sounds interesting. Thanks.
Crowd1 is operated from Sweden by Swedes.
The fact that it’s not promoted much locally is probably by design.
Impact Crowd Technology is the shell company, likely to dupe banks for as long as they can.
Is there any official confirmation Johan has done a runner? He was answering press enquiries on Crowd1’s behalf earlier this month.
Based on the presence of Johan Staël von Holstein alone, that would be a reasonable prediction to make.
I’ve spent some time today reading Swedish websites (with the help of Google Translate) to learn more him, in an attempt to get past the language barrier, which annoyingly helps him to hide much of his past from non-Swedes.
As far as I can tell, since the moment he started out in business on his own rather than just being an employee (1996), every single company this self-declared “serial entrepreneur” and “blockchain, cryptocurrency & Internet visionary” has ever been involved with publicly has either collapsed into bankruptcy, or been quietly shut down, after a brief existence in which none of them ever made any money.
It’s quite entertaining how much online debris of all these failed companies can still be found. For a laugh, look at this message of his from 2015, about his latest venture, which was going to make tons of money with the brilliant idea of setting up online clubs for people who happen to have the same name:
The company folded in 2016.
He also has a habit of jumping ship right before the inevitable happens, so that he can then blame the final collapse on other people. A sudden departure from Crowd1 would fit his MO perfectly.
It’s quite remarkable that such a complete, serial failure in some circles manages to pass himself of as some kind of business guru.
Is Tor Petteroe the same guy from Towah/Unaico?
If he is the same guy then he was closely working with Dan Anderson who was president of Unaico.
These guys are professional scam artists. Dan Anderson looted many people in India, Pakistan and so many other countries using LEO company.
Is Tor Petteroe the same guy from Towah/Unaico?
Yes, that’s him. The one who robbed everyone through his Towah scam in Unaico, Wenyard and Bidify.
Good evening is it allowed the leaders or leader to changed your ownership account… if it’s not one of the leaders did to my account it was sold to someone today without my permission.
Crowd1 is a Ponzi scheme, they can do whatever they want to your account.
Impact Crowd Technology (ICT) is a Shell company owned by sweden and norgian biggest scammers.
President: Jonas Werner (Wenyard-nasgo/Spinglo)
Advisor: Toranders Petteroe (Towah/ Titus community/ WGI)
Advisor: Lorentsson Jens
ICT’s capital: € 3,600
ICT’s head office: C / VELAZQUEZ 86 PtlA 1º – DERECHA (MADRID): coworking for rent (Not a real office).
click on this link to know everything about this shell company:
Lars Johan Staël, whom they continue to present as CEO, has quietly resigned from the company.
Commission withdrawals have been late on bitcoin since 2 weeks.
people pay themselves by registering new members with gift codes.
The system is out of breath. People are going to cry very soon!!
Crowd1 is a ponzi scheme and an huge scam
Rach David is destroying all the teams by promising them future benefits of Owner Rights in Crowd1. She did the same with LEOcoin by promising us the value of LEOcoin will go up.
She sold her soul for money. She doesn’t care where the money is coming from she just wants to grab it. Such a low character in MLM. Poor people in Philippines can’t afford another scam but Rach David wants to build her wealth on top of dead bodies.
When Crowd1 goes down she will change to another company and keep sucking blood of innocent people who want to earn some extra money.
Sarah one thing you should understand about networking business, is that when one falls you need to move quickly to another one. So I don’t see any problem with what Richie David did.
Networking or any kind of business always favours the pioneers ie those that started earlier.
If you have anything against Richie,it is better to move on because you be discussing her and she will keep on making her money.
I will advice you to join the winning team, forget about LEO, it has crash. If it had favoured you, you will be saying this rubbish.
I read all the comments, (Ozedit: derails removed)
People see Crowd1 as an opportunity to be part of change, no investments or securities offered, we know, pls get the facts straight, but not here to prove it.
What I see in Crowd1 is opportunity, for millions of people who love online business, marketers dream.. I see 10 million soon, imagine that Jonas and Johan got it right this time, do you want to be left behind when C1 hits Nasdaq..
Call me what you like, but what I see is an online revolution, you can join without buying a product, registration is free, you simply in the Crowd to enjoy the benefits offered by the 3rd parties.
It is by choice that you decide to grow your own business. I joined and bought a product, I have no recruits and still enjoy my benefits, not securities btw, guys, its free to register, there is no financial obligation. My wishes are for health and safety to all.
You pretending Crowd1 isn’t an investment opportunity to justify your theft of money doesn’t change the fact Crowd1 is a Ponzi scheme.
Facts are facts, who exactly do you think you’re fooling?
That is wonderfully delusional, if only for one fundamental legal reason.
Crowd1 is legally set up as a Spanish limited liability company, Impact Crowd Technology SL. LLCs cannot, by definition, issue stock, and therefore can never be listed on a stock exchange.
Should, at some future point, the owners of Impact Crowd Technology decide to change that, and create a new company to continue the Crowd1 activities, but which is also able to issue stock, it would be entirely up to them to decide how stock in that new company was distributed.
They wouldn’t have to give away shares for free to any existing Crowd1 affiliates, or even give them any privileged treatment in buying those shares, at the time ofsuch a hypothetical future IPO (which will of course never happen). All of you would be “left behind”.
“Members”, a legally meaningless term, in MLM companies aren’t shareholders, they’re just customers, and a weird kind of contractors. They don’t own anything. That’s why Crowd1’s use of the term “owner rights” is so ridiculous, and dishonest.
How many times do we have to see this same tired line from scammer apologists?
Serial scammers aren’t trying to “get it right this time”; they’re just working new scams, or reworking old ones. How many craters do they have to run away from before people see they’re setting the charges on purpose?
The next time you see someone stand onstage and claim their days of failed schemes are behind them, don’t fall for it, no matter how earnest and sincere they sound. Because sounding earnest and sincere is how they draw people in, and they’re good at it.
As a point of interest, can’t SLs be converted to SAs? You can certainly convert a UK LTD to a PLC if you want to list a privately owned company on the stock exchange.
Both are very similar in structure, the main difference is that one has lower reporting requirements in exchange for the shares not being publicly marketable.
Why crowd1 still operating if this i illegal..?
How can we stop this kind of illegal activity?
Because something being illegal is only a deterrent, it doesn’t physically stop Crowd1 from committing securities fraud.
The best you can do is not invest in fraudulent investment schemes. Stopping illegal activity is up to regulators and law enforcement.