Quwiex has obtained a securities fraud warning from New Zealand’s Monetary Markets Authority.
In response to being busted, Boris CEO George Bennet has introduced Quwiex World rebranding.
As per its April eighth warning, the FMA writes;
We’re involved that Quwiex Restricted could also be concerned in a rip-off.
The entity is providing to supply monetary companies with out being registered on the Monetary Service Suppliers Register (FSPR) as a registered monetary service supplier in New Zealand; and Quwiex Restricted can also be making statements concerning the returns an investor would obtain from the monetary service supplied, that look like false and deceptive and/or unsubstantiated.
Quwiex after all has no enterprise operations in New Zealand. Neither is it registered with the FMA.
The Ponzi scheme is believed to be run by Russian scammers, working out of Dubai or Russia itself.
On April thirteenth Boris CEO George Bennet featured in a video not directly addressing Quwiex’s New Zealand fraud warning.
Showing in entrance of a inexperienced display screen, Bennet repeats the lie that Quwiex is predicated out of New Zealand.
After citing New Zealand as “the middle of cryptocurrencies [sic]”, he bemoans the gap between it and “different monetary facilities”.
The answer? Rebranding Quwiex Restricted as Quwiex World.
The corporate Quwiex turns into a worldwide firm.
Already by April 21 won’t solely have a license from the US, however may also obtain an up to date license in New Zealand.
Furthermore, the corporate might be referred to as Quwiex World.
As reviewed right here on BehindMLM, Quwiex provides a 5% passive return. The solely registration within the US that will matter is registration with the SEC.
Boris CEO scammers aren’t going to try this for apparent causes. I think Quwiex World might be integrated as a shell firm. For the aim of MLM due-diligence, that is meaningless.
As for New Zealand, Quwiex was by no means registered with the FMA so there’s no “up to date license” to get.
It ought to be famous that the explanation registration with monetary regulators just like the SEC and FMA issues, is as a result of accompanying that’s the requirement for audited monetary studies.
That is the one solution to confirm an MLM firm providing securities is just not working as a Ponzi scheme.
MLM firms providing passive returns that don’t choose to register and commit securities fraud, achieve this as a result of they’re Ponzi schemes.
To dupe gullible buyers, scammers use fundamental incorporations, actors taking part in CEOs, bullshit guarantees and so on. As we’ve seen with Quwiex.
Trying ahead, Quwiex had introduced a Ponzi shindig in Vietnam.
When BehindMLM reviewed Quwiex final month, we famous Vietnam was the third largest supply of visitors to its web site. No matter Quwiex recruitment was occurring in Vietnam nevertheless has since collapsed.
And so Quwiex has moved its first promo occasion to Dubai.
With the intention to construct on our success the Board additionally determined to prepare a number of conferences all over the world.
The primary two will happen in Dubai and Korea.
Dubai is the MLM rip-off capital of the world. Boris CEO Ponzis and Dubai go hand-in-hand.
Primarily based on web site visitors evaluation from Alexa, Quiex recruitment is presently going down in Algeria, Saudi Arabia and Egypt.
Replace twentieth April 2022 – Quwiex has collapsed.