Yeah so turns out Ukraine has its own SEC equivalent; the National Commission on Securities and Stock Market.

In what I believe is a first for BehindMLM, today we’re reporting on a securities fraud warning issued from Ukraine.

According to the NSSMC, QubitTech was identified as a “dubious financial project” in the fourth quarter of 2020.

The NSSMC’s investigation into QubitTech found it

offers citizens investment packages worth from $ 100 to $ 100,000, for which 250% of cashback will be paid, daily payments of 2%.

According to the project website, QubitTech makes money using quantum technologies.

eposits are accepted only in cryptocurrencies, there are no guarantees of return on investment.

For attracted new users promise a bonus of 8% of the amount of their investment.

The Commission sees the services listed on the project website as misleading potential investors.

BehindMLM reviewed QubitTech in July 2020. Based on its business model, we concluded QubitTech was a Ponzi scheme.

QubitTech is not registered to offer securities in the Ukraine, or anywhere else on the planet. The NSSMC’s securities fraud warning follows Spain’s last week.

Long known as a haven for MLM Ponzi scammers, it seems Ukraine might have had enough.

The NSSMC advises;

Given the activity of dubious financial projects, the Commission together with the legislators is preparing a bill that contains, in particular, rules to strengthen the fight against abuse in capital markets and will more effectively prevent, prevent the actions of those who harm citizens.

Whether anything actually comes of the bill remains to be seen.