Crowd1 has received a securities fraud warning from the Central Bank of Russia.

As per the CBR’s February 1st, 2021 warning, Crowd1 exhibits “signs of a “pyramid scheme”.

CBR’s warning applies to Crowd1 Network Europe LTD, Crowd1 Network LTD, Impact Crowd Technology SL, Impact Crowd Technology Scandinavia AB, as well as any other related Crowd1 shell companies.

Russia is the sixteenth jurisdiction to take regulatory action against Crowd1.

Other countries to issue Crowd1 fraud notices include Peru, New Zealand, Mauritius, South Africa, the Philippines, Norway, Namibia, Paraguay, Gabon, Vietnam, Cote d’Ivoire, Slovakia, Hungary and the Czech Republic.

Crowd1 promoters were also recently arrested in Azerbaijan.

Crowd1 is a Ponzi scheme run by Swedish national Jonas Werner (right).

Werner was up until last year residing in Spain. He is believed to have fled to Dubai.