Quintessential Business Network (QBN) has received a securities fraud warning from Spain’s Comision Nacional del Mercado de Valores (CNMV).

As per the CNMV’s February 25th warning;

QBN is not authorised to provide the investment services and activities subject to the activity restriction in accordance with the … Spanish Securities Markets and Investment Services Act.

Offering unregistered securities is illegal as per Spanish financial law. Doing so constitutes securities fraud.

QBN is an MLM crypto Ponzi scheme. The scam runs a “staking” Ponzi model, built around its QBN token.

Heading up QBN is co-founders Anwaar Qureshi, Farid Ladhani, Maher Awad and Tariq Ausaf.

All four of QBN’s co-founders believed to be Texas residents. They are also former promoters of the collapsed BizzTrade Ponzi scheme.

QBN running a fraudulent investment scheme and being made up of serial fraudsters is at odds with its marketing:

As of January 2025 SimilarWeb was tracking ~4100 monthly visits to QBN’s website, down 82% month on month.