The Philippine SEC has issued a press-release reminding consumers that the Crowd1 Ponzi scheme remains banned across the country.

The SEC claims its renewed
May 10th investor alert

is prompted by numerous reports received by the Commission regarding the continuous activities/operation of CROWD1 ASIA PACIFIC, INC. in the Philippines despite the PERMANENT Cease and Desist Order (CDO) issued by the Commission on 02 July 2020, the ORDER OF REVOCATION of its Certificate of Registration on 09 September 2020, the SEC Advisory issued on 28 April 2020 and the 09 June 2020 SEC Advisory on Ronnie John Dohina Barrientos, a.k.a, Ronnie Barrientos, an active supporter and recruiter of Crowd1.

In this regard, the public is hereby WARNED and ADVISED to exercise extreme caution when approached by individuals or group of persons claiming to represent CROWD1 ASIA PACIFIC, INC. and NOT TO INVEST or STOP INVESTING their hard earned money in CROWD1 ASIA PACIFIC, INC. and in any high-yield, high-risk investment scheme.

As of May 2022, Ronnie Barrientos is still promoting Crowd1 in the Philippines:

Barrientos was holding “jampacked” Crowd1 promo events earlier this week, at what appears to be local McDonald’s restaurants:

Considering this is two years on from the SEC’s first warning against Barrientos, it seems obvious
further action beyond warnings
is needed.

The SEC has
previously warned
promoters of Crowd1 in the Philippines face fines of 5 million PHP (~$415,000 USD), or a twenty-one year prison sentence.

The SEC requests Philippine residents approached by Barrientos or anyone else representing Crowd1 in the Philippines, to contact them via provided details.

Crowd1
is run by Jonas Werner (right), a Swedish national who
fled to Dubai
last year.

Through
Metaversy
, the Ponzi scheme recently announced it was migrating investor losses from virtual shares to crypto fraud.

🤖 Quick Answer

What action has the Philippine SEC taken regarding Crowd1?
The Philippine Securities and Exchange Commission has reissued a May 10th investor alert reaffirming the permanent ban on Crowd1 Asia Pacific, Inc. following numerous reports of continued operations despite previous cease and desist orders issued in July 2020 and September 2020.

Why did the SEC renew its warning about Crowd1?
The Commission received multiple reports documenting ongoing recruitment and operational activities by Crowd1 representatives in the Philippines, necessitating renewed public advisories to prevent consumer participation in the unauthorized scheme.

What regulatory measures were previously implemented against Crowd1?
The SEC issued a Permanent Cease and Desist Order on July 2, 2020, revoked its Certificate of Registration on September 9, 2020, and issued advisories regarding the scheme and its recruiter Ronnie Barrientos

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