PGI Global, Xifra Lifestyle fraud warnings from Peru
Praetorian Group International and Xifra Lifestyle have received fraud warnings from Peru’s Superintendencia de Banca Seguros.
As per the SBS’ May 28th warning, neither Xifra Lifestyle or PGI have registered with the regulator.
In order to protect the interests of the public, the Superintendency of Banking, Insurance and AFP (SBS) warned citizens that the appearance of new money-raising schemes that do not count has been detected with authorization from the SBS.
The business schemes that have been spreading in the country are:
PGI and Xifra Lifestyle are listed. So are Omega Pro and IM Mastery Academy, however they’ve been on the SBS’ fraud list since late last year.
It is important to reiterate that according to article 11 of Law No. 26702, General Law of the Financial System and the Insurance System and Organic Law of the Superintendency of Banking and Insurance, any person who intends to attract or receive money from third parties, in the form of a deposit , mutual or any other modality, requires the prior authorization of the SBS.
SBS is Peru’s top financial regulator. It’s warnings constitute equivalent securities fraud notices in other jurisdictions.
Reader comments on our coverage suggest that kala exit-scam was cancelled. Posts on PGI Global’s social media are currently marketing “PGI 2.0”.
A reboot event appears to be scheduled in Bahamas for July 15th.
In light of its collapse and failed kala exit-scam, PGI Global is restricting who can comment on its Facebook posts.
Xifra Lifestyle launched in late 2020. The Ponzi scheme primarily targets investors in North and South America, namely Mexico.