PLC Ultima has acquired a fraud warning from Mongolia’s Monetary Regulatory Fee.
PLC Ultima is a part of Alex Reinhardt’s PlatinWorld Ponzi scheme.
As famous by the FRC on April twenty second;
As monetary markets increase and services and products change into extra subtle, mechanisms comparable to monetary fraud, fraudulent schemes, and multi-level monetary pyramids evolve and change into harder to determine.
Nonetheless, the frequent denominator of those fraudulent schemes is that they permit for risk-free investments within the quick time period, guarantees of excessive returns, and incentives to recruit individuals by way of membership.
As monetary fraud will increase, the variety of victims will increase and solely the primary few traders or initiators profit, so it is crucial for international locations to ascertain a system to forestall, detect and cease them within the quick time period.
One instance in Mongolia is the Platinum Coin (PLC) scheme, which persuades residents to acquire official approval from the FRC, raises monetary assets, gives bonuses for recruitment, and promotes the very best variety of members.
PlatinWorld is a reboot of Reinhardt’s PlatinCoin Ponzi scheme.
Reinhardt (proper) solicits funding into PLC Ultima (PLCU), on the promise of passive returns.
Neither PlatinWorld, PLC Ultima, PlatinCoin or Alex Reinhardt are registered to supply securities in Mongolia.
Alex Reinhardt, the corporate’s chief government, beforehand owned SwissCoin or Platinum Coin is believed to have been one of many main members of the bankrupt Ponzi scheme shortly after its emergence.
Warnings and statements have been issued by monetary regulators in different international locations.
Platinum Coin Shoppers consider that it operates by way of numerous umbrella firms around the globe, together with Dubai, Switzerland, Hong Kong and Slovenia.
Platinum Coin and PLC Ultima don’t have any licenses or registrations from worldwide organizations or overseas monetary regulators attributable to their excessive threat nature and lack of funding in it, in addition to the opportunity of fraudulent schemes.
The FRC goes on to warn Mongolian residents that, attributable to Reinhardt working his Ponzi scheme offshore, they’re on their very own when PlatinWorld and PLC Ultima collapses.
As lined in our article noting the PlatinCoin to PlatinWorld transition, Reinhardt operates his Ponzi scheme from Dubai.
This isn’t a coincidence, with Dubai being the MLM rip-off capital of the world.
Reinhardt is believed to be a German citizen. Moreover, Alexa ranks Germany as the highest supply of visitors to PlatinWorld’s web site (19%).
Regardless of PlatinCoin initially being launched in 2017, thus far German authorities have taken no motion in opposition to Reinhardt or his scams.
Replace sixteenth October 2022 – PlatinWorld and PLCU are collapsing, prompting Reinhardt to reboot once more as PLCUX.