The Central Financial institution of Cuba, the nation’s high monetary regulator, has issued a warning concentrating on a number of MLM Ponzi schemes.
Scams cited within the Central Financial institution’s Might thirteenth warning embrace;
The operations carried out by these schemes have little or no transparency and are hidden behind an apparently technical phrasing, however devoid of content material.
All this, with out there being an actual financial worth or good to again it up.
This operation is comparable to what’s often called Multilevel or Pyramid Scams, additionally referred to as Ponzi Schemes.
The Cuban State doesn’t promote or approve the operation of such a “corporations”.
None of them has a license to function throughout the nationwide territory.
Cuba evidently has emerged as a market to pitch MLM Ponzi schemes to over the previous 12 months or so.
Most of them appear to be imported from Spain, possible by the identical group of scammers.
Primarily based on present Alexa visitors evaluation, Cuba is
- the first supply of visitors to Belief Investing’s web site (44%); and
- the second largest supply of visitors to QubitLife’s web site (14%)
Arresting the Director of Belief Investing as he tried to flee the nation is a begin.
Whether or not Cuban authorities can get the unfold of Ponzi schemes below management stays to be seen.