The Czech National Bank has issued a securities fraud warning against Crowd1.

The CNB is the Czech Republic’s top financial regulator.

As per the CNB’s December 9th warning;

CROWD1 Network Ltd. and Impact Crowd Technology SL do not have any authorization to provide investment or other services on the financial market in the Czech Republic and the Czech National Bank does not supervise their activities. Any investment is not legally insured.

This is the equivalent of a securities fraud warning in other jurisdictions.

To date Crowd1 has attracted the attention of regulators in New Zealand, Mauritius, South Africa, the Philippines, Norway, Namibia, Paraguay, Gabon, Vietnam, Cote d’Ivoire, Slovakia and Hungary.

Crowd1 was founded by Jonas Erik Wener in mid 2019. The Ponzi scheme is operated by CEO Johan Stael Von Holstein.

Both Wener and Holstein are believed to be Swedish citizens currently residing in Spain. Together, Wener and Holstein operate Crowd1 from Spain.

To date Swedish and Spanish authorities have failed to take any action against Crowd1 or its executives.

Crowd1 is currently being heavily promoted across Russia, Azerbaijan and Qatar.