Intelligence Prime Capital fraud warning from Belgium
Belgium’s Financial Services and Markets Authority has issued an Intelligence Prime Capital fraud warning.
The FSMA cites Intelligence Prime Capital as a “new fraudulent trading platform”. A bit odd considering the Ponzi scheme collapsed in February 2022.
As per the FSMA’s June 5th warning;
During the past few weeks, the FSMA has continued to receive complaints from consumers concerning new fraudulent trading platforms that are operating in the Belgian market.
After clicking on the ad or downloading the mobile app and having given their contact details, the victims are usually swiftly called by fraudsters presenting a specific investment proposal (in shares, alternative investment products, virtual currencies, etc.).
Other trading platforms contact consumers through dating apps and fake social media accounts. Furthermore, many trading platforms use WhatsApp and Telegram.
The FSMA notes that several fraudulent trading platforms offer a so-called ‘affiliate programme’ to consumers. These programmes exhibit signs of a pyramid scheme.
These platforms act very aggressively. They often claim to hold an authorization by a fake financial authority, displaying it so as to seem trustworthy.
The fraudsters also try to convince the victims to invest increasingly higher amounts of money.
They also make promises of repayment in exchange for one last money transfer. This is a technique to collect even more money from their victims.
These are most likely cases of investment fraud. Fraudsters not only act without the necessary authorizations, but they also divert the investors’ funds. In such cases, investors are unable to recover their money because these illegal service providers are generally located abroad.
The FSMA goes on to list Intelligence Prime Capital along with a bunch of other trading scams (I didn’t recognize any of the others).
I thought maybe scammers were promoting a new iteration of Intelligence Prime Capital. The FSAA list IPC’s original website domain however, which is currently listed for sale.
Intelligence Prime Capital was a Boris CEO Ponzi scheme that surfaced in late 2021.
IPC token was introduced as a reload scam in April but collapsed shortly after launch.
Since then there have been no further Intelligence Prime Capital updates… but uh apparently in Belgium it’s a “new” scam.
Not sure what’s going on in Europe but the FSAA’s warning follows a similarly belated IPC fraud warning from Ireland last month.
Other than noting them for completeness, not really sure what the value is in issuing from warnings over a year after an MLM Ponzi has collapsed.