PetronPay has received a securities fraud warning from Quebec’s Autorite des Marches Financiers (AMF).

As per the AMF’s March 14th PetronPay warning;

PetronPay [is] not registered with the Autorité des marchés financiers (AMF) and is not authorized to solicit investors in Québec.

Offering unregistered securities in violation of Quebec financial law constitutes securities fraud.

PetronPay was an MLM “oil barrels” ruse Ponzi launched in 2020. In April 2021 PetronPay disabled withdrawals and collapsed. A crypto token exit-scam was initiated but didn’t go anywhere.

In April 2022 it emerged PetronPay had continued to defraud investors through a second website domain. PetronPay’s reboot saw the US issue a fraud alert.

Today PetronPay’s original website domain redirects to a crypto casino. Petron’s second website domain is disabled.

It’s unclear whether new PetronPay scamming prompted AMF to take action, or whether the regulator is just extremely late with its warning.