Late final yr OmegaPro registered its OMP Cash shell firm with the FCA.
Presumably following an inside investigation, the FCA has now cancelled OMP Cash’s registration.
As per the FCA’s deregistration, OMP Cash
is now not registered with the FCA as an E-money agent of a regulated agency, and may now not challenge digital cash or present cost providers.
It’s believed OmegaPro used OMP Cash and the FCA registration to open banking channels.
In a advertising and marketing video that surfaced final September, OmegaPro co-owner Andreas Szakacs referred to OMP Cash as “a financial institution”.
In that very same advertising and marketing video, Szakacs offered OMP Cash LTD’s FCA registration as a regulatory triumph.
[0:20] Crucial factor I would like you to do is to go to the FCA register.
On the FCA register you may seek for OMP Cash and see that we’re regulated by the FCA.
This may be one thing distinctive I’d say for our trade and I’m so comfortable to lastly announce this.
OmegaPro and its 200% ROI Ponzi scheme wasn’t talked about wherever within the formation of OMP Cash. Nor was it disclosed to the to FCA.
For the reason that FCA took motion, OmegaPro has disabled entry to OMP Cash’s web site:
Along with the FCA, OmegaPro has had regulatory run-ins with Spain, France Belgium and Peru.
Presumably in an try and detract consideration away from its ongoing regulatory points, on June third OmegaPro introduced Ronaldinho as an “official model ambassador”.
Within the advertising and marketing video linked above, Ronaldinho might be seen visiting OmegaPro’s Dubai workplace.
OmegaPro being based mostly out of Dubai is not any coincidence. With little to no regulation and only a few extradition treaties, over the previous few years Dubai has emerged because the MLM rip-off capital of the world.
Ronaldinho himself is not any stranger to MLM Ponzi schemes.
In September 2019 Ronaldinho emerged because the face of 18K Ronaldinho, a Brazilian MLM crypto Ponzi scheme.
After receiving his minimize Ronaldinho, whose monetary troubles are nicely documented, break up from the Ponzi scheme a month later.
18K Ronaldinho collapsed in February 2020.
Based mostly on Alexa visitors estimates, OmegaPro is presently being closely promoted in Japan, Colombia and Nigeria.
Ronaldinho’s recruitment is probably going an try and additional break into the South American market.
Replace thirteenth December 2021 – The FCA has reverted OMP Cash’s registration suspension.
The FCA’s OMP Cash license web page reveals OmegaPro has linked the shell firm to Viola Cash (Europe) Restricted, one other shell firm additionally registered with the FCA.
OmegaPro itself just isn’t registered to supply securities in any jurisdiction.
Replace thirty first January 2022 – OmegaPro has misplaced its OMP Cash shell firm license once more.
Viola Cash (Europe) Restricted has additionally had restrictions positioned on it by the FCA.