Questra World warning issued by Austria’s Financial Market Authority
On October 27th Austria’s Financial Market Authority issued an investor warning against Questra World.
BehindMLM reviewed Questra World earlier this month and determined it to be a Ponzi scheme.
As per their website, Austria’s Financial Market Authority was ‘established in 2002‘ and ‘brings together the supervision of all significant providers and functions under a single roof.‘
With respect to Questra World, the FMA warns the company
is not entitled to carry out banking transactions in Austria that require a licence.
The provider is therefore not permitted to conclude money-lending agreements on a commercial basis and to extend monetary loans on a commercial basis (lending business pursuant to Article 1 para. 1 no. 3 BWG).
In a nutshell, promotion of Questra World in Austria is illegal.
The warning against Questra World in Austria comes just two months after a similar warning was issued in Belgium.
Belgian authorities claim Questra World (dba Questra Holdings) ‘has every appearance of being of a pyramidal type or at least of a Ponzi fraud.‘