Final yr Kuvera International was soliciting funding into the Ryze AI buying and selling bot. The corporate’s dealer of selection was Capital Metropolis Markets.
Nearly a yr on from the CFTC clamping down on Investview, Kuvera International’s guardian firm, affiliate buyers nonetheless have funds tied up in Capital Metropolis Markets.
Capital Metropolis Markets is a Vanuatu shell firm run by individuals unknown, however believed to be primarily based out of Europe.
In December the CFTC added Capital Metropolis Markets to its RED Record.
The RED Record, launched in September 2015 (see CFTC Press Launch 7224-15) identifies unregistered overseas entities that the CFTC has motive to consider are soliciting and accepting funds from U.S. residents at a retail stage for, amongst different issues, buying and selling in binary choices or overseas forex (foreign exchange) and are required to register with the CFTC however, will not be registered.
Firms on the CFTC’s Pink Record are discovered to be illegally soliciting US residents in binary choices and foreign exchange funding schemes.
Regardless of this Investview, a US firm, thought it was a good suggestion to hyperlink itself to Capital Metropolis Markets.
Relationship way back to July 2018, stories emerged of Kuvera International affiliate funds being trapped inside Capital Metropolis Markets.
An October 2018 e-mail despatched to a Kuvera International affiliate blames locked funds on “banking points”.
Apologies, we’re nonetheless experiencing banking points right now.
Please do be aware that under no circumstances are we seeking to maintain the funds and have each intention of returning them as quickly as attainable.
We’re working extraordinarily exhausting to resolve the problem.
As soon as once more we thanks to your understanding and persistence.
As of March 2019, invested Kuvera International affiliate funds are nonetheless MIA.
We perceive our shoppers frustration, nonetheless we nonetheless don’t have any updates to offer.
Our servers are nonetheless down and the discharge of funds was anticipated in February, however there have been additional delays of which we’ve got no present timeline for.
Whereas we’re speaking with shoppers when and if any updates are given, we can not give any additional data aside from that.
Regardless of being the purpose of contact between its associates and Capital Metropolis Markets, for his or her half Kuvera International aren’t .
Requests for help despatched to Kuvera International earlier this month elicited the next response;
We apologize, however Kuvera doesn’t have an replace relating to accounts with CCM.
Since your Ryze/dealer account is with CCM and never with Kuvera, you would wish to proceed to contact Capital Metropolis Markets relating to your dealer account with them.
That’s from an e-mail dated early April 2019.
What number of associates Kuvera International and Capital Metropolis Markets have scammed is unknown. Ditto how a lot they’ve collectively misplaced.
What is obvious is that each Kuvera International and Capital Metropolis Markets are stalling.
Whether or not the CFTC takes additional motion towards Investview and Kuvera International stays to be seen.
Within the meantime affiliate buyers don’t know what occurred to their cash. They’re being fed claims about banking issues, which they don’t have any means to confirm.
Seeing as Kuvera International acquired its associates into this mess, on the very least one would assume they’d be protecting affiliate losses.
Or not. Final we heard Kuvera International is having monetary issues of its personal.