Elysium Capital has received a securities fraud warning from Estonia’s Financial Supervisory Authority (FSA).

According to the FSA, Elysium Capital

does not hold an activity licence for the provision of investment services in Estonia and therefore ELYSIUM CAPITAL is not authorised to provide investment services in Estonia.

The FSA is Estonia’s top financial regulator. Its warning constitutes confirmation of securities fraud.

As noted by BehindMLM reader “Herr D”, since the crackdown Elysium Capital has scrubbed its Estonia address from its websites.

Elysium Capital’s website now shows an address in Sweden.

Elysium Capital is part of Elysium Network, an MLM company run by Fred Pascal Stege.

Neither Elysium Network, Elysium Capital or Stege are registered to offer securities in any jurisdiction.