In response to a securities fraud warning issued by Dubai, Zeniq Applied sciences has trotted out the “we’re not doing the factor we’re doing” protection.
Zeniq Applied sciences is the shell firm behind Zeniq Coin. Zeniq Coin in flip is utilized by the Safir Worldwide Ponzi scheme.
Safir Worldwide solicits funding on the expectation of passive returns, paid by way of Zeniq Coin.
Clearly this can be a monetary service (securities providing), thus requiring registration with monetary regulator.
Zeniq Applied sciences represents it’s primarily based out of Dubai however isn’t registered to supply monetary companies in Dubai.
This led to the Dubai Monetary Providers Authority’s securities fraud warning on December fifth.
In response to the DFSA’s warning, Safir Applied sciences issued a press-release on December twenty third.
Following inquiries with the Dubai Monetary Providers Authority (DFSA) concerning the potential registration or regulation of ZENIQ Applied sciences, the DFSA has issued a clarification on this regard on its web site on 5 December 2021.
On this, it’s acknowledged: “… that ZENIQ Applied sciences isn’t, and has by no means been, approved by the DFSA to supply monetary companies in or from the DIFC.”
That is additionally utterly right as ZENIQ Applied sciences doesn’t do that or intend to do that in any method.
We aren’t doing the factor we’re in actual fact doing.
Zeniq Applied sciences then doubles down on misrepresentation of the DFSA’s warning, claiming
There is no such thing as a WARNING from the DFSA in respect of ZENIQ Applied sciences, however slightly a CONFIRMATION of its registration as a correct firm!
Riiiiiiiiiiiiiiiigh……….t.
In late December UAE authorities threatened to begin jailing “cyber criminals selling cryptocurrency scams”.
Over the previous few years Dubai has emerged because the worldwide capital of MLM crypto fraud.
Whether or not the crime-riddled emirate begins holding firms like Zeniq Applied sciences accountable stays to be seen.
Replace twenty first October 2022 – Zeniq Applied sciences has deleted the cited press-release from its web site.
This text initially contained a hyperlink to the press-release however I’ve now eliminated it.