Validus securities fraud warning from Dubai
Validus has received a securities fraud warning from Dubai.
As per a December 22nd alert from the Dubai Financial Services Authority;
Validus-FZCO is not located in the Dubai International Financial Centre (DIFC). It is not, and have never been, licenced by the DFSA to provide Financial Services or make Financial Promotions in or from the DIFC.
Additional Validus related entities cited by the DFSA include VMarketing, Team Validus, Vewards and V-Connect.
These brands are not licenced or in any way authorised by the DFSA, and they are not located in the DIFC.
Validus is a Dubai-based MLM crypto Ponzi scheme.
Running Validus we have former OneCoin Ponzi promoters Parwiz Daud and Mansour Tawafi.
Following a regulatory fraud warnings from New Zealand, Australia and Belgium, Validus collapsed earlier this year in April.
Validus abandoned most of its social media profiles in November 2023. Instagram is still active as of December 23rd, but appears to be on marketing autopilot.
As of November 2023, SimilarWeb tracked the majority of Validus website traffic from France (18%), Colombia (12%), India (12%) and Australia (10%).
Total Validus victim numbers and how much they’ve lost remains unknown.
How ironic that the crypto scam capital is issuing a fraud warning! Will wonders never cease?
Pity the pic isn’t clearer.
At first glance a few other OneCoin scammers look like they are there.
I was wondering the same Izzy. Could this be a first for the emirate, I wonder?
Members of my extended family lost over 300k combined, this after we warned them continuously it was a scam.
This has disrupted the family dynamics with those that lost blaming other family recruiters, the entire situation is a complete mess.
Everyone needs to be more forceful with financially illiterate family so this sort of scams don’t take hold again.
I just can’t fathom how stupid they were for falling for these idiots.