Kuvera Global’s Capital City Markets missing funds scam continues
Last year Kuvera Global was soliciting investment into the Ryze AI trading bot. The company’s broker of choice was Capital City Markets.
Almost a year on from the CFTC clamping down on Investview, Kuvera Global’s parent company, affiliate investors still have funds tied up in Capital City Markets.
Capital City Markets is a Vanuatu shell company run by persons unknown, but believed to be based out of Europe.
In December the CFTC added Capital City Markets to its RED List.
The RED List, launched in September 2015 (see CFTC Press Release 7224-15) identifies unregistered foreign entities that the CFTC has reason to believe are soliciting and accepting funds from U.S. residents at a retail level for, among other things, trading in binary options or foreign currency (forex) and are required to register with the CFTC but, are not registered.
Companies on the CFTC’s Red List are found to be illegally soliciting US residents in binary options and forex investment schemes.
Despite this Investview, a US company, thought it was a good idea to link itself to Capital City Markets.
Dating as far back as July 2018, reports emerged of Kuvera Global affiliate funds being trapped inside Capital City Markets.
An October 2018 email sent to a Kuvera Global affiliate blames locked funds on “banking issues”.
Apologies, we are still experiencing banking issues at this time.
Please do note that by no means are we looking to keep the funds and have every intention of returning them as soon as possible.
We are working extremely hard to resolve the issue.
Once again we thank you for your understanding and patience.
As of March 2019, invested Kuvera Global affiliate funds are still MIA.
We understand our clients frustration, however we still have no updates to give.
Our servers are still down and the release of funds was expected in February, but there have been further delays of which we have no current timeline for.
While we are communicating with clients when and if any updates are given, we cannot give any further information other than that.
Despite being the point of contact between its affiliates and Capital City Markets, for their part Kuvera Global aren’t interested.
Requests for support sent to Kuvera Global earlier this month elicited the following response;
We apologize, but Kuvera does not have an update regarding accounts with CCM.
Since your Ryze/broker account is with CCM and not with Kuvera, you would need to continue to contact Capital City Markets regarding your broker account with them.
That’s from an email dated early April 2019.
How many affiliates Kuvera Global and Capital City Markets have scammed is unknown. Ditto how much they’ve collectively lost.
What is clear is that both Kuvera Global and Capital City Markets are stalling.
Whether the CFTC takes further action against Investview and Kuvera Global remains to be seen.
In the meantime affiliate investors have no idea what happened to their money. They’re being fed claims about banking problems, which they have no means to verify.
Seeing as Kuvera Global got its affiliates into this mess, at the very least one would think they’d be covering affiliate losses.
Or not. Last we heard Kuvera Global is having financial problems of its own.