Skainet Systems securities fraud warning from Germany
Skainet Systems has received a securities fraud warning from Germany’s BaFin regulator.
In its warning BaFin cites both Skainet Systems and purported parent shell company Cermak LLC.
As per Bafin’s January 22nd, 2025 warning;
The financial regulator BaFin warns against offers from Cermak LLC.
According to BaFin ‘s findings, the company offers banking transactions and/or financial services without a license on its website skainetsystems.com. The company is not supervised by BaFin.
BaFin further warns its investigation into Skainet Systems and Cermak is ongoing.
BaFin’s Skainet Systems fraud warning coincides with increased withdrawal restrictions and limitations.
Skainet Systems is an MLM trading ruse Ponzi run by Michael Baur (aka Micha Baur).
Baur is a German national and serial fraudster hiding out in Dubai.
As of December 2024, SimilarWeb tracked top sources of Skainet Systems’ website traffic as the UAE (26%), Italy (24%), Germany (15%), Vietnam (15%) and Sweden (10%).
Outside of the UAE (Dubai), Skainet Systems’ website traffic plummeted by as much as 84% month on month.
Referring to the warning of the German BaFin, a German lawyer wrote on January 25, 2025
anwalt.de/rechtstipps/skainet-systems-ein-betrug-erfahrungen-zu-skainetsystems-com-208844.html