OmegaPro has misplaced its OMP Cash shell firm license with the FCA for a second time.
As at time of publication the FCA advises OMP Cash Ltd
is not registered with the FCA as an E-money agent of a regulated agency, and may not challenge digital cash or present cost companies.
The first time the FCA cancelled OMP Cash Ltd’s license was in June 2021.
The license was reinstated on December 14th. On the time OMP Cash’s registration web page confirmed OmegaPro had linked it to Viola Cash (Europe) Restricted.
Viola Cash (Europe) Restricted, shortened to VMEL, is one other shell firm registered with the FCA.
Viola Cash Restricted’s FCA registration web page reveals it went into “particular administration” on December twenty first.
This agency has necessities or restrictions positioned on the monetary companies actions that it may possibly function. Necessities or restrictions can embrace suspensions.
Restrictions imposed on VMEL embrace:
- prohibiting it from doing something with saved funds or belongings tied to “some other particular person or entity; and
- being topic to a £5,000 GBP switch restrict for its personal enterprise operations.
VMEL is required to report compliance to the FCA weekly.
This feels like a cash laundering investigation however the FCA is infamous for lacklustre securities fraud regulation.
OMP Cash was an integral a part of OmegaPro’s advertising and marketing. The Ponzi scheme cited OMP Cash’s FCA registration as proof it operated as “a financial institution”.
BehindMLM reviewed OmegaPro in September 2021. Based mostly on its enterprise mannequin, we concluded OmegaPro was a 200% ROI Ponzi scheme.
OmegaPro is run by co-owners Andreas Szakacs, Mike Sims and Dilawar Singh.
The corporate represents it’s run out of Dubai, the MLM rip-off capital of the world.
Alexa estimates present a decline in site visitors to OmegaPro’s web site over the previous three months.
Buyers of the scheme seem like primarily situated in Japan (35%), Colombia (16%) and Nigeria (9%).
OmegaPro just isn’t registered to supply securities in any of those jurisdictions.