Spain’s Comisión Nacional del Mercado de Valores has issued a securities fraud warning in opposition to QubitTech.
As per the CNMV’s January eleventh warning, QuibiTech
isn’t authorised to supply the funding companies detailed in Article 140 of the Spanish Securities Markets Act, which embody funding recommendation, nor to supply the auxiliary companies detailed in Article 141(a), (b), (d), (f) and (g) of mentioned Act in relation to the monetary devices detailed in Article 2 of mentioned Act, together with, for these functions, overseas foreign money transactions; and neither licensed to carry out the actions reserved for collective funding establishments detailed in paragraph 1 of Article 1 of Legislation 35/2003, of 4 November, on Collective Funding Establishments.
That is the equal of a securities fraud warning in different jurisdictions.
BehindMLM reviewed QuibitTech final July. Based mostly on its enterprise mannequin, we concluded QubitTech was a Ponzi scheme.
QubitTech committing securities fraud and working illegally the world over reenforces this conclusion.
To the very best of my information Spain is the primary nation to problem a securities fraud warning in opposition to QubitTech.
QuibitTech is run by Greg Limon, who’s believed to journey between the UK, Canada and Russia.
On the time of publication Alexa cites the highest three sources of visitors to QubitTech’s web site as Russia (23%), Italy (7%) and the Ukraine (6%).
I consider there may be additionally a major US investor base, who entry QubitTech’s web site by means of VPNs. For its half the corporate turns a blind eye to this exercise.
Replace fifteenth January 2021 – I forgot the CNMV’s web site serves up PDF recordsdata in a borked cache manner. Whereas the initially supplied hyperlink labored for me (so long as I’d beforehand visited the location), it didn’t work for readers.
A reader wrote in and supplied a search hyperlink for QubitTech on CNMV’s web site, which I’ve added instead of the unique warning hyperlink.
Replace ninth March 2021 – QubitTech has rebranded itself as QubitLife.