Crowd1 permanently banned in Philippines, appeal denied
Crowd1’s appeal to the Philippine SEC has been denied.
Effective immediately, Crowd1 is permanently banned in the Philippines.
In a press-release issued on July 20th, the SEC reveals Crowd1 filed a motion to lift the cease and desist order issued against it.
Crowd1 was issued the cease and desist in April. The company’s motion was filed in late June.
On July 2nd the motion to lift was denied. The SEC claims
Crowd1 failed to present evidence in support of its claim that it is not engaged in the sale and/or offer for sale of securities in the form of investment contracts.
In its defense, Crowd1 had argued
the educational packages it was selling to the public was allowed since its objective is to educate the affiliates of the organization on possible wealth to be gained from marketing products and services.
The SEC didn’t buy it.
BehindMLM maintains that irrespective of what you add to a Ponzi scheme, it’s still a Ponzi scheme.
Continued promotion of Crowd1 in the Philippines runs the risk of a 5 million PHP (~$415,000 USD) fine, or a twenty-one year prison sentence.
tHe SeC r HaTeRz, ThEy DoN’t UnDeRsTaNd CrOwD1’s BuSiNeSs MoDeL!
The world is afraid of Crowd1 and they only want to shut it down to protect their kingdoms.
Crowd1 opened an office in Manila and registered with the SEC and everything.
We know that’s true because the Crowd1 founders told us.
The government is the real pyramid scheme. Oz just doesn’t like to see people succeed. He spouts his opinions when I have the FACTS.
I don’t care if it was a scam, I was making money in it. What do you offer in place of Crowd1, huh?
Waah, waah, waah, etc.
[I thought I’d save everyone the trouble of going back and looking up what kind of BS was being belched all over the comment sections on Crowd1 articles 5-6 months ago.
On Reddit they call that “saved you a click.” You’re welcome.]
BUT, MUH EDUMAHCATION PACKAGE..
Rach David you should prepare to go to jail for 21 years. Greed has blinded you.
You knew that Crowd1 was a scam and even then you destroyed many people’s investment to put some extra money in YOUR pocket.
Yes! Rach David facebook.com/rachdavid20
Crowd1 scammer! From the Philippines.
She used to promote Leocoin before and now stole Moje from people with CROWD1 scam! Check her Facebook account!
On my side crowd1 is here in south Africa to help people who are poor..people who loses hope..I am the one who was losing hope bt crowd1 come rescued m…
2day I can b able to put food or feed my finaly… crowd1 is not a scam.
Ponzi schemes and scammers such as yourself don’t help poor people, you steal from them.
All Ponzi schemes are scams. Your claimed poverty is not an excuse to commit financial fraud.
My god they have taken money already from more than 7 million people. Can you imagine the amount? Why governments don’t act more rapidly?
It’s crazy you would think that after Onecoin thzy would learn something. In the meantime we have Crowd1, Dagcoin, Dascoin, Vitae, Kuvera, iMarketsLive, GTInet, Skyway,Melius the list goes on and on with companies that have been in one way or the other published as dubious not to say directly scams.
There should be at least an entity created to only investigate companies that grow very rapidly because of the internet and could be ponzi scams. It’s not that difficult to do some initial checkings and after those start a more sever process or legal complaint.
7 Million people is an outrageously inflated figure brought about by the fact, the leaders are promoting the selling of multiple positions to qualify for higher payments.
One training session i viewed showed how purchasing 43 positions would get you to the top level and generate residual payments on your own purchases.
Its deosnt matter what Crowd1 does to try and look legit, they are flat out European scammers, with a lot of experience.
They have preyed on the african countries where a lot of people are desperate to improve their lives and believe what they are told by rich scammers like that Rens idiot.
BigC
you do not care if it is a scam… as long as you make money?
wow dude.. thanks for the truth…
But if it was really banned, why is it still operating with it’s system?
I think the system is to be closed so that no one can access it.
Local promoters are able to break the law and continue promoting Crowd1. It’s up to Philippine authorities to take further action.
Committing an illegal act, fraud in this case, doesn’t legitimize it.
Then I would suggest to close it’s system from being accessed by public.
Crowd1 is being run by scammers in Europe. Europe is worse than Asia at effective MLM Ponzi regulation.
Really? I thought I made it pretty clear I was being sarcastic, quoting the crap scammers were spouting on Oz’s original review. Reading comprehension 404.
I was full time watching the presentation that they conducted here in valenzuela phillipines,..
first,from the begining, promoting some unbelievable videos that they telling about the founder their prospective.
Regarding they are so called degital platform, It’s quite amazing because, it seems like a grab platform.
i’m a grab driver folks i have an apps, i knew where my money came from. and i knew how to cash out my money.
it is the same like CROWD1, They giving you an apps,.. you have the amount indicated at your account,…. yes…. But the problem is,.. you can not wiyhdraw it,..
the president founder of this fucking CROWD1,.. Everytime you ask him,that i want to withdraw my money,… He always replied to you,… Just wait,… wait,… and wait,.. scam huh…?