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.
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.