Crowd1 securities fraud warning issued in Paraguay

The Comision Nacional de Valores has issued a Crowd1 securities fraud warning for Paraguay.

The CNV is Paraguay’s top financial regulator. On February 26th the regulator issued a
public warning
, advising against Crowd1 investment.

The CNV identifies Crowd1 as a securities offering. The regulator notes Crowd1 is not registered with the CNV and therefore operates illegally.

It is also illegal to promote unregistered securities. Promoters of Crowd1 in Paraguay face up to three years imprisonment or a fine.

The CNV’s warning follows a
Ponzi scheme ban
issued by Namibia last week. One of Crowd1’s claimed gaming partners has also stated it has
no cooperation
with the company.

Based on website traffic estimates provided by Alexa, South Africa is the largest source of Crowd1 investment.

To date South African authorities have failed to take any action against the company or local promoters.

🤖 Quick Answer

What securities fraud warning did Paraguay's financial regulator issue?

Why did Paraguay's CNV take action against Crowd1?
Crowd1 operates as an unregistered securities offering in Paraguay, violating financial regulations. The warning followed similar regulatory actions by Namibia, which banned Crowd1 as a Ponzi scheme. Additionally, one of Crowd1's claimed gaming partners denied any cooperation with the company.

Which country represents Crowd1's largest investor base?
According to website traffic data from Alexa, South Africa accounts for the largest source of Crowd1 investment globally,

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