Crowd1 withdrawal delays, CEO sets up COVID-19 exit-scam
Crowd1 is reportedly behind in payments across Sweden by a few months.
Recruitment commissions are purportedly still being paid out in bitcoin, but promised returns are MIA.
After speaking with Swedish Crowd1 investor Mae-Za Enge, Trijo news approached Crowd1 CEO Johan Stael Von Holstein for comment.
Holstein (right) confirmed Crowd1’s withdrawal delays, citing banking “problems with payments outside the SEPA area.”
SEPA, the Single Euro Payments Area,
harmonizes the way cashless payments transact between euro countries. European consumers, businesses, and government agents who make payments by direct debit, instant credit transfer, and credit transfers use the SEPA architecture.
Trijo responded to Holstein’s answer by pointing out that Sweden fell within SEPA.
To which Holstein responded;
I misunderstood your question which I thought was general.
As for Sweden, they are now lagging behind with the payments due to half the company being eliminated in covid-19 for over a month, but they are catching up.
It seems that in order to explain away withdrawal delays, Crowd1 investors outside of SEPA are going to be fed the SEPA line. Investors within SEPA are being told it’s COVID-19.
Citing Enge’s experience, Trijo put forth that Crowd1’s withdrawal delays preceded the impact of COVID-19. Holstein told the publication he “couldn’t answer that”.
Meanwhile Crowd1 investors willing to receive payments in bitcoin, are no doubt clearing out what’s left of previously invested funds.
While withdrawal delays is the usual “sorry for your loss” Ponzi story, the real takeaway here is Crowd1’s banking problems.
If Holstein is to be believed (he could very well just be making this up), Crowd1 is likely under regulatory investigation across Europe.
We already know Norway initiated an investigation last November, but perhaps other countries have now taken notice.
As of yet Swedish authorities have yet to confirm whether they are investigating Crowd1.
After the scheme’s fake gambling partnerships were outed last month, Crowd1 rebooted itself as an app-based Ponzi.
Whereas a few months ago Crowd1 investor recruitment was primarily focused in South Africa and neighboring countries, since then the scheme has spread elsewhere.
BehindMLM first warned consumers about Crowd1 in August 2019.
This website has a lot of traffic in the Philippines as well.
Staël von Holstein’s claim:
is such a preposterous, transparent lie. The SEPA system only covers Europe, and has only been operational for about a decade.
Does he expect us to believe banks in Europe in those 10 years have forgotten how to transfer money without it, and just given up on doing any transfers to the rest of the world?
And if they inadvertently picked a bank that is incapable of fulfilling the most basic function of a bank, transfering money, why don’t they just change banks?
But then, this man has managed to create the idea in many people’s minds that he’s a successful entrepreneur, and a “visionary” one at that, despite the fact that his track record as a company founder is one of pretty much 100% failure. (As far as I can tell, all but one of the companies he’s founded since he set out on his own went bust without ever making any money. The one that survives did so by ditching its business model completely, and becoming a mere passive holding company.)
So he’s arguably a good liar, and probably thinks people will believe whatever he tells them.
Same story everytime with Jonas W,Tor A Petteroe and Caron S. now they have some millions euro each then shut down.
We have been paid and still getting paid by CROWD1 and it’s a company registered by law and also tax regulated.
Lol, where is Crowd1 registered to offer securities?
How’s Netleaders going Clement? You still holding your Dascoin bag?
Tax Regulated.
What does that mean, please?
Its only a matter of time they zoom off with people money, the signs are already showing.
Tor Anders Petteroe have according to rumours been in hospital, in Malaga, for a long time with corona. He control all bank accounts. So this is why all withdrawals have stopped.
Scammers trust no one, not even their business partners…
@Jonny
Petteroe isn’t sitting there approving every Crowd1 withdrawal request. It’s all automated.
Either there’s new investment to recycle into withdrawals or someone pulled the plug.
Such a scam, taking people’s money and you get 0 back.
I have requested my earning using biticoin since July until now, an I have not got any payment yet.
I wonder how, the support team always gives the same answer since.
we have seen many businesses trying to pay their members even though they are scammers, and I don’t know why this one when it claims to be big and trusted.
I requested for withdrawal via Bitcoin over a week now and I haven’t seen anything in wallet…. What is happening?
It has been over a week since I made a transfer to Bitcoin as a way of withdrawing my money and it’s still on WAITING, how long should it really take for it to reflect?
Till now showing waiting I was withdrawal 23/11/2020.
I made a withdrawal to bitcoin a month ago but even today CROWD1 has not paid me.What is actually happening?
This company frustrates us.
Like all ponzis, Crowd1 has reached the point where very few new members are joining. No new members = no new money = no payments
I made a withdrawal request on 02/02/2021 with my luno BTC wallet, till date it’s still pending.