Introax securities fraud warning from Russia
Introax has received a securities fraud warning from the Russian authorities.
As per the Bank of Russia’s February 2nd warning, Introax exhibits “signs of a financial pyramid (scheme)”.
Introax solicits investment on the promise of daily returns of up to 5%.
BehindMLM reviewed Introax on January 25th. We found evidence of securities fraud and concluded Introax was a Ponzi scheme.
On January 31st Jharol Smith, a serial promoter of Ponzi schemes, announced Introax has stopped paying.
In his video Smith claims the Telegram used to coordinate Introax investment has also shut down.
Smith documents participation in fraudulent investment schemes on Bank of Jharol, with the aim of recruiting others under him.
Smith, a resident of Maryland in the US, is not registered with the SEC.