Crown Global securities fraud warning from Canada (Alberta)
Crown Global has received a securities fraud warning from Canada.
On February 3rd the Alberta Securities Commission added Crown Global to its Investment Caution List.
As per the ASC’s website, companies on the list
are not registered with the ASC and that appear to be engaging in activities that either require registration under Alberta securities laws or may be investment scams.
This is the equivalent of a securities fraud warning in other jurisdictions.
Crown Global is a reboot of the collapsed Crypto Crown Ponzi scheme.
Crown Global solicits $27,500 investments on the promise of 18.5% a month for the first six months, and then 22.5% a month over another six months.
SimilarWeb tracked an increase in Crown Global traffic between November (36,200) and December (57,800), but overall recruitment outside of the UK appears to have collapsed.
As of December 2022, traffic to Crypto Crown’s website originated from the US (30%, down 20% month on month), the UK (21%, up 45% month on month), Spain (16%, down 15% month on month) and France (15%, down 31% month on month).
Crypto Crown was tied to Canada through Crypto Crown Inc., a Canadian shell company registered through a UPS address.
Following Crypto Crown’s collapse, Crypto Crown Inc. was dissolved in October 2022. A search for Crown Global turned up no results.
Whether Crown Global is actually being run out of Canada remains unclear. In any event, Canadian regulators have taken notice of the rebooted Ponzi scheme.
Whether that leads to further action against Crown Global remains to be seen.
Footnote: While a link to ASC’s Investment Caution List is provided in this article, Crown Global might not appear on the list if you’re reading this well past publication date (months/years).
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