Crowd1 affiliate investors have been given a glimpse of how the company plans to respond to regulatory action.
By throwing them under the bus and abandoning them.
Speaking on behalf of the company, Regional Manager for Asia Pacific Jan Frostne has stated Crowd1 intends to
cooperate in the proceedings especially in identifying involved individuals or groups who misrepresent Crowd1 and entice people to invest or solicit investments.
“Proceedings” refers to action taken by the Philippine SEC, who last week issued a warning against Crowd1 investment due to securities fraud.
Rather than admit its a Ponzi scheme, Crowd1 has gone down the path of pretending it’s not supposed to be marketed as an investment opportunity.
The move is pure pseudo-compliance, seeing as Crowd1 is very much a passive investment opportunity.
In addition to serving up investors to regulators, Crowd1 has informed affiliates the Philippine SEC is “misinformed” of its transactions”.
Naturally the company has failed to elaborate, but has stated it
will inform the SEC on their products and services in order to clear out the misunderstanding.
In light of its fraudulent business model, we anticipate whatever nonsense Crowd1 comes up with will be summarily dismissed by the SEC.
Although Crowd1 isn’t registered to offer securities in any jurisdiction it solicits investment in, so far only Namibia, Paraguay and the Philippines have taken action.
Crowd1 is believed to be owned by Jonas Eric Werner (right) who, together with CEO Johan Stael Von Holstein, runs the Ponzi scheme out of Sweden.