Peru’s Superintendency of Banking, Insurance and Private Pension Fund Administrators (SBS), has issued a warning against several MLM companies operating illegally in the country.
Of the ten companies on SBS’ December 14th list, BehindMLM is familiar with four;
- Omega Pro
- AirBit Club
- IM Mastery Academy
The SBS advises that as per Article 11 of Law No. 26702, General Law of the Financial System and the Insurance System and Organic Law of the Superintendency of Banking and Insurance, the above companies are required to be registered with the regulator.
The SBS indicates that the business schemes are not authorized by the SBS to attract money from the public.
Omega Pro is a Ponzi scheme offering a 200% ROI in 16 months.
AirBit Club was a bitcoin Ponzi scheme. US authorities arrested the company’s owners in August.
IM Mastery Academy is a reboot of iMarketsLive. The company changed its name after the CFTC fined iMarketsLive $150,000 for operating illegally.
Through the use of passive returns algorithms, IM Mastery Academy continues to commit securities fraud.
Crowd1 is a notorious Ponzi scheme run by Swedish citizen Jonas Werner from Spain.
Against a backdrop of increasing regulatory heat, a few days ago it was announced former CEO Johan Stael von Holstein had abandoned Crowd1’s investors.
To date Crowd1 has received regulatory attention in New Zealand, Mauritius, South Africa, the Philippines, Norway, Namibia, Paraguay, Gabon, Vietnam, Cote d’Ivoire, Slovakia, Hungary and the Czech Republic.
Authorities in Sweden and Spain are yet to take any action against Crowd1 or its executives.