Mauritius’ Financial Service Commission has issued a securities fraud warning against Crowd1.
The FSC conducted an investigation into Crowd1 following reports of ‘members of the public in Mauritius are being solicited via media to invest’.
This investigation lead to the FSC concluding Crowd1’s MLM opportunity is a securities offering, which the company has not registered.
The FSC hereby informs the public that Crowd1 and/or any individuals/ representatives or promoter groups operating under this name are not and have not, at any point in time, been licensed and regulated by the FSC.
Linked from the FSC’s May 14th warning are consumer alerts on Ponzi schemes, scams and social media fraud.
Similar securities fraud warnings have been issued by the Philippines and Paraguay. Norway has also announced a Crowd1 investigation.
Crowd1 is owned by Jonas Erik Wener. The company is operated by CEO Johan Stael Von Holstein from Sweden.
To date Swedish authorities have taken no action against the company or its owners.