The National Bank of Slovakia (NBS) has issued a securities fraud warning against Crowd1.
The NBS operates as is Slovakia’s top financial regulator.
As per NBS’ December 3rd warning,
CROWD1 Network Ltd and Impact Crowd Technology S.L. are not subject to supervision by NBS; they are not authorised by NBS to conduct any activity in the Slovak financial market, nor are they recorded in any register maintained by NBS.
This is the equivalent of a securities fraud warning in other jurisdictions.
NBS goes on to cite regulatory warnings issued against Crowd1 by New Zealand, Mauritius, South Africa and the Philippines.
BehindMLM would add Norway, Namibia, Paraguay, Gabon, Vietnam and Cote d’Ivoire to that list.
NBS notes that previous regulatory investigations in those countries
have defined the activities of the two companies as a form of a pyramid or Ponzi scheme.
Crowd1 was founded by Jonas Erik Wener in mid 2019. The company is operated by CEO Johan Stael Von Holstein from Sweden.
To date Swedish authorities have failed to take any action against Crowd1 or its executives.
Crowd1 is currently being heavily promoted across Russia, Azerbaijan and Qatar.