Crowd1 securities fraud warning issued in Slovakia
The National Bank of Slovakia (NBS) has issued a securities fraud warning against Crowd1.
The NBS operates as is Slovakia’s top financial regulator.
As per NBS’ December 3rd warning,
CROWD1 Network Ltd and Impact Crowd Technology S.L. are not subject to supervision by NBS; they are not authorised by NBS to conduct any activity in the Slovak financial market, nor are they recorded in any register maintained by NBS.
This is the equivalent of a securities fraud warning in other jurisdictions.
NBS goes on to cite regulatory warnings issued against Crowd1 by New Zealand, Mauritius, South Africa and the Philippines.
BehindMLM would add Norway, Namibia, Paraguay, Gabon, Vietnam and Cote d’Ivoire to that list.
NBS notes that previous regulatory investigations in those countries
have defined the activities of the two companies as a form of a pyramid or Ponzi scheme.
Crowd1 was founded by Jonas Erik Wener in mid 2019. The company is operated by CEO Johan Stael Von Holstein from Sweden.
To date Swedish authorities have failed to take any action against Crowd1 or its executives.
Crowd1 is currently being heavily promoted across Russia, Azerbaijan and Qatar.
Hat tip to BBC reporter Aliaume Leroy for the heads up!
securities fraud warning issued in Hungary:
mnb.hu/figyelmeztetesek?query=C
Thanks for the heads up!
What on Earth is it going to take for Sweden to take action?
But are there any signs at all they are running it *from* Sweden? If they are running it from Costa del Sol, where JSvH is based, targeting Africa and East bloc countries, there is no way Swedish police is going to get involved.
I didn’t realize Holstein had fled Sweden. Is Wener still there or has he fled too?
I estimate the chances for Swedish authorities to do anything meaningful as 0. I base this on prior success rates in regards to “internationl pyramidschems/ponzi schems”.
best case scenario is that they would acknowledge and assist in extraditing them (Werner our Holstein) if accordence whit a international arrest warrant (from a … civilized country).
our Tax avesion/monylaundring. but thats if they are actually in sweden.
(it has had a minimal traction as a scam here, hell thay found 1 person that put up 100e for their newsarticel about it.)
Holstein moved to Spain a long time ago. Werner is also based there. And so are probably parts of their company structure, what is not in more beneficial hosts like Cyprus or Malta.
I doubt they have anything of significance registered in Sweden, or any cash flow.
So what are Spanish authorities doing then?
Honestly as far as regulation beyond issuing warnings goes, the EU is utterly hopeless.
The same crap the serial fraudster Udo Carsten Deppisch has been using in all his scams (most recently OneCoin, Wantage One etc), before he started to sell himself with crooked millions!
youtube.com/watch?v=OTbJYLxn-5o
cnb.cz/cs/dohled-financni-trh/ochrana-spotrebitele/upozorneni/Upozorneni-na-aktivity-spolecnosti-CROWD1-Network-Ltd.-a-Impact-Crowd-Technology-S.L./
Fresh warning from Czech National Bank… the plot thickens!
Thanks for the heads up! Got this on my list to cover today.