Tycoon69 collapses in Switzerland, regulatory bankruptcy
An FMA investigation into Tycoon69 has lead to the company’s collapse in Switzerland.
As per an email sent out by the Vischer law firm, Tycoon69 has declared bankruptcy.
As per the FMA’s investigation, the regulator found
Tycoon69 AG does not have the licence required for its business activities (and) the subsequent granting of the necessary licence is out of consideration.
Presumably this is because Tycoon69 is a Ponzi scheme.
The FMA also expressed concern regarding the “indebtedness of Tycoon69 AG”.
Whether this refers to investor ROI liabilities or other debts is unclear.
In any event, rather than challenge the FMA Tycoon69 “discontinued” business activities on or around June 19th.
This is the date the FMA initiated bankruptcy proceedings against the company.
Vischer has been appointed by the FMA to serve as bankruptcy liquidator. As part of those duties the law firm is accepting claims against Tycoon69 from victims.
Claims (with evidence) are to be submitted in writing to Vischer by July 31st @
“Tycoon69 AG i.L.”
At the time of publication Tycoon69’s website is still up and advertising “high income potential”.
Alexa traffic estimates show a collapse in late 2019, although there is still some interest from Latvia (76% of Tycoon69’s website traffic).
A Swiss address is provided in the footer of Tycoon69’s website. Whether the address is still active is unclear.
Despite collapsing and being put into bankruptcy by the FMA, posts on CEO Stefan Hostettler’s Facebook page suggest Tycoon69 is still holding marketing events.
Pending any further updates, stay tuned…