Tycoon69 securities fraud warning issued by Austria
Sep.19, 2020 in
companies, regulation
Tycoon69 has received a securities fraud warning from Austria.
Last we checked in Tycoon69 was under investigation by FINMA in Switzerland. This prompted Tycoon69 to bankrupt their Swiss shell company.
As per the Financial Market Authority’s September 8th warning, Tycoon69 appears to have relocated to the UAE.
The Ponzi scheme is now incorporated through the shell company Tycoon69 FZE.
Tycoon69 founder and CEO, Stefan Hostettler (right), still operates the company from Switzerland.
As per the FMA, Tycoon69 is not registered to offer securities in Austria. The company operates illegally, in violation of Austria’s E-Money Act.
It should be noted that Tycoon69 is not registered to offer securities in any jurisdiction.
BTW, so called project of “hybrid blockchain bank” MCV-CAP seems to be abandoned. “The bank” web presentation on
nolink:mcv-cap.at (or redirect at .com)
is not available anymore. Google search for “MCV-CAP” returns mostly links to various fans’ and antifans’ blogposts and facebook. 🙂
Only exceptions are whitepaper documnents – to my surprise, they are still downloadable from mcv-cap web domain:
nolink://www.mcv-cap.com/sites/default/files/MCV-CAP%20Whitepaper%20EN%20EUR.pdf
nolink://www.mcv-cap.com/sites/default/files/MCV-CAP%20Executive%20Summary%20English.pdf
So after about two years of hard work, Tycoon69 has recruited “customers” of revolutionary “hybrid blockchain bank” which… never had clients’ backoffice and now it even does not have any frontend. Bravo!