Mavie Global has received a pyramid fraud warning from Russia.

As per the Central Bank of Russia’s June 26th warning, Mavie Global exhibits “signs of a financial pyramid”.

CBR taking action against Mavie Global is significant. As of May 2024, SimilarWeb tracked Russia as the primary source of Mavie Global website traffic (35%).

Mavie Global has previously also received fraud warnings from Canada and New Zealand.

Coinciding with CBR’s fraud warning is Mavie Global announcing the collapse of its original Ultron Ponzi scheme yesterday.

Instead of being honest about increased regulatory scrutiny, dwindling website traffic and new investment to keep the Ponzi going, Mavie Global owner Michael Prazenica cited newly enacted “Markets in Crypto-Asset Regulation” in Europe.

MiCA, as the new regulations are known as,  has nothing to do with Mavie Global’s past, present and continued securities and pyramid fraud.

MiCA also has nothing to do with Mavie Global collapsing its original Ultron Ponzi.

In an attempt to entice new investors, Mavie Global has rushed out several Ponzi reboots over the past year:

For now these scams remain operational. Pending further action by authorities and/or a continued decline in new Mavie Global investment, it’s expected they too will be collapsed at some point.

Michal Prazenica, originally from Europe, fled to Dubai to set Mavie Global and Ultron up.

Due to the proliferation of scams and failure to enforce securities fraud regulation, BehindMLM ranks Dubai as the MLM crime capital of the world.

BehindMLM’s guidelines for Dubai are:

  1. If someone lives in Dubai and approaches you about an MLM opportunity, they’re trying to scam you.
  2. If an MLM company is based out of or represents it has ties to Dubai, it’s a scam.