Mind Capital has issued their response to a securities fraud warning from Spain’s top financial regulator.

Spoiler: It doesn’t address securities fraud.

Rather than address the fact that their passive investment opportunity is a security, and that by not being registered with Spain’s CNMV Mind Capital is committing securities fraud, the company babbles on about being “exclusively economic”.

The activity of Mind.Capital is exclusively economic, and in no case does it consist of operating with financial assets: either as the operation of participating in the equity of any entity remunerated by means of dividends, whatever the denomination used for these; or understood as the activity of ceding capital for its use by third parties outside its ownership, remunerated by means of interest, whatever the denomination used for these.

If that went over your head (I almost fell asleep typing it out), it’s because it’s a bunch of meaningless dribble.

As per Mind Capital’s business model, affiliates invest bitcoin on the promise of an advertised 0.5% to 1.5% daily ROI.

That’s a securities offering, and requires registration with CNMV to operate legally in Spain.

Being “exclusively economic”, crapping on about financial assets etc. etc. None of that has anything to do with Mind Capital committing securities fraud.

As their response continues, Mind Capital trots out the “it’s not a security because bitcoin!” defense.

Mind.Capital operates exclusively with Bitcoin and other cryptocurrencies.

The international community, mainly the SEC, the IFRS interpretation committee and the accounting community of the knowledge bank (Ozedit: wtflol?), have decided that neither Bitcoin nor any other cryptomone [sic] meets the requirements of the accounting standards for their classification as financial instruments.

A security is a security, irrespective of the investment vehicle. Bitcoin in the case of Mind Capital.

The SEC has gone after plenty of cryptocurrency companies for securities fraud.

There is no exemption for bitcoin or any other cryptocurrency from securities fraud in any jurisdiction on the planet.

Finally, despite soliciting investment on the promise of daily returns, Mind Capital insists it’s “not an investment company”.

Mind.Capital does not have the legal form of a Collective Investment Institution  … as it is neither a mutual fund nor an investment company.

Again, Mind Capital affiliates invest money into the company on the promise of a daily ROI. So Mind Capital is pretty much just straight up lying here.

Don’t just take my word for it though, have another look at Mind Capital’s company logo:

And there’s also this, provided as it currently appears on Mind Capital’s own website:

If you’re wondering who the boneheaded dunces are running around claiming Mind Capital isn’t an investment opportunity, when it clearly is, officially the company is run by Gonzalo Garcia-Pelayo.

The problem is, with respect to MLM and cryptocurrency, Garcia-Pelayo is some old guy nobody’s ever heard of.

Recently however Mind Capital added some more executives to its website, and things are starting to make a lot more sense.

Manuel Arniz is credited as Mind Capital’s Expansion Manager. Ruben Arcas is the company’s Network Development Manager.

Both are serial Ponzi scammers.

Manuel Arniz’s YouTube channel features promotional material from InCruises, Skyway Capital, DasCoin, Inexx and MinexCorp (collapsed crypto Ponzi).

Ruben Arcas first appeared on BehindMLM back in 2016, as co-founder of the Pool Miners Ponzi scheme.

Pool Miners didn’t last long, prompting Arcas to launch Infinitum Flame in 2017.

Infinitum Flame was a Ponzi reboot of Pool Miners. Within a year Infinitum Flame’s Qwark shitcoin had been dumped and the scheme itself collapsed.

Eagle-eyed BehindMLM reader Semjon also spotted Adrian Jacuzzi in one of Mind Capital’s marketing videos.

Jacuzzi featured on BehindMLM in 2018 as owner and CEO of the Mize Network Ponzi scheme.

Prior to Mize Network Jacuzzi was a promoter of Pool Miners, Infinitum Flame and EmGoldex (another Ponzi scheme).

As more and more career Ponzi scammers simmer to Mind Capital’s surface, it’s increasingly looking like Gonzalo Garcia-Pelayo is a puppet.

You know how this ends.

 

Update 14th December 2023 – Turns out Mind Capital was run by David Saffron and Vincent Mazzotta.

Saffron and Mazzotta have been indicted. Saffron was arrested last year and Mazzotta sometime over the past week.