Spain’s Comision Nacional del Mercado de Valores has issued a securities fraud warning in opposition to UGPay.
UGPay is a Swiss shell firm, utilized by Andrew Khovratov to run EvoRich via.
As per the CNMV’s October 4th warning UGPay Group A.G. is an “unregistered agency”.
This implies
UGPay Group A.G. is just not authorised to offer the funding providers set out in Article 140 of the Spanish Securities Markets Act, which embody funding recommendation.
That is the equal of a securities fraud warning in different jurisdictions.
Spain is the third jurisdiction to difficulty EvoRich with a securities fraud warning, following New Zealand and Latvia earlier this yr.
EvoRich is a derivative of the long-running Skyway Capital Ponzi scheme.
EvoRich is your typical crypto shitcoin rip-off. Associates put money into CRU/WCRU tokens, one thing one thing, sorry on your loss.
With nothing marketed or bought to retail clients, the MLM aspect of EvoRich operates as a pyramid scheme.
Exterior of Russia, which makes up 80% of its web site visitors (Alexa), there doesn’t appear to be a lot happening with EvoRich globally.