FVP Trade securities fraud warning from Australia
FVP Trade has received a securities fraud warning from the Australian Securities and Investments Commission (ASIC).
As per ASIC’s November 8th warning, FVP Trade
is likely to be offering financial services to Australian consumers.
It does not hold an Australian financial services licence or Australian credit licence from ASIC, and is not authorised by a licensee.
Offering securities without registration with ASIC constitutes securities fraud under Australian law.
FVP Trade was a Boris CEO Ponzi scheme launched in mid 2020. The scam is believed to be run by Asians, with possible ties to Dubai.
BehindMLM documented FVP Trade’s collapse in July 2022, a few weeks after we published our review.
To date FVP Trade’s original website remains offline. A search for the company reveals a possible reboot (or recovery scam), operating from “fvptrade.info”.
FVP Trade’s .INFO domain was privately registered on February 9th, 2023. SimilarWeb tracked ~3600 visits to FVP Trade’s .INFO domain in October 2023, 19% of which originated from Australia.
I’m guessing recent FVP Trade recruitment activity in Australia is what prompted ASIC’s warning (despite them citing FVP Trade’s original abandoned domain).
In addition to Australia, FVP Trade received a securities fraud warning from Quebec in August 2022.