Crowd1 is reportedly behind in payments across Sweden by a few months.

Recruitment commissions are purportedly still being paid out in bitcoin, but promised returns are MIA.

After speaking with Swedish Crowd1 investor Mae-Za Enge, Trijo news approached Crowd1 CEO Johan Stael Von Holstein for comment.

Holstein (right) confirmed Crowd1’s withdrawal delays, citing banking “problems with payments outside the SEPA area.”

SEPA, the
Single Euro Payments Area
,

harmonizes the way cashless payments transact between euro countries. European consumers, businesses, and government agents who make payments by direct debit, instant credit transfer, and credit transfers use the SEPA architecture.

Trijo responded to Holstein’s answer by pointing out that Sweden fell within SEPA.

To which Holstein responded;

I misunderstood your question which I thought was general.

As for Sweden, they are now lagging behind with the payments due to half the company being eliminated in covid-19 for over a month, but they are catching up.

It seems that in order to explain away withdrawal delays, Crowd1 investors outside of SEPA are going to be fed the SEPA line. Investors within SEPA are being told it’s COVID-19.

Citing Enge’s experience, Trijo put forth that Crowd1’s withdrawal delays preceded the impact of COVID-19. Holstein
told the publication
he “couldn’t answer that”.

Meanwhile Crowd1 investors willing to receive payments in bitcoin, are no doubt clearing out what’s left of previously invested funds.

While withdrawal delays is the usual “sorry for your loss” Ponzi story, the real takeaway here is Crowd1’s banking problems.

If Holstein is to be believed (he could very well just be making this up), Crowd1 is likely under regulatory investigation across Europe.

We already know
Norway initiated an investigation last November
, but perhaps other countries have now taken notice.

As of yet Swedish authorities have yet to confirm whether they are investigating Crowd1.

After the scheme’s
fake gambling partnerships were outed
last month, Crowd1 rebooted itself as an
app-based Ponzi
.

Whereas a few months ago Crowd1 investor recruitment was primarily focused in South Africa and neighboring countries, since then the scheme has spread elsewhere.

BehindMLM first
warned consumers about Crowd1
in August 2019.

🤖 Quick Answer

What withdrawal issues did Crowd1 experience in Sweden?
Crowd1 faced payment delays of several months across Sweden. While recruitment commissions continued in bitcoin, promised returns were not being paid. CEO Johan Stael Von Holstein attributed delays to banking problems with payments outside the SEPA area, though Sweden operates within SEPA protocols.

Why did CEO Johan Stael Von Holstein cite SEPA-related payment problems?
Holstein claimed Crowd1 experienced banking difficulties with payments outside the Single Euro Payments Area. However, this explanation proved inconsistent since Sweden participates in SEPA, the harmonized payment system used by eurozone countries for direct debits and credit transfers.

What discrepancies emerged in Crowd1's payment explanations?
CEO Holstein's justification for withdrawal delays contradicted factual circumstances. He blamed non-SEPA payment issues despite Sweden's full participation in the Single Euro Payments

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