Mavie Global’s FinUp spinoff has received a securities fraud warning from Spain’s Comision Nacional del Mercado de Valores (CNMV).
As per the
CNMV’s January 13th FinUp warning
;
The [CNMV] warns that FinUp is not authorised to provide the investment services and activities subject to the activity restriction
in accordance with the provisions of Article 129 of the Spanish Securities Markets and Investment Services Act, in relation to the financial instruments detailed in Article 2 of said Act, including, for those purposes, foreign currency transactions.
FinUp
is the fourth spinoff of the
Mavie Global Ponzi scheme
(originally launched as Ultron in 2022).
Travelution, a discount travel MLM opp and sixth Mavie Global spinoff, was announced in December 2024.
The original Mavie Global Ponzi
collapsed
in June 2024 but its spinoffs linger in a zombie-like state.
FinUp’s Ponzi ruse is AI crypto trading. In addition to failing to register with financial regulators, FinUp fails to provide verifiable evidence it generates ROI revenue through trading.
As of December 2024, SimilarWeb was tracking ~10,600 monthly visits to FinUp’s website.
50% of FinUp’s website traffic originates from Ukraine, followed by 36% from France and 4% from the US.
Mavie Global, FinUp and the other spinoffs were/are run by Michael Prazenica (aka Michal Prazenica).
Originally from Europe, Prazenica now spends his days
hiding out in Dubai
.
🤖 Quick Answer
What is the FinUp securities fraud warning from Spain?Spain's Comisión Nacional del Mercado de Valores (CNMV) issued a securities fraud warning against FinUp on January 13th, stating the entity is not authorized to provide investment services or activities under Article 129 of the Spanish Securities Markets and Investment Services Act, including foreign currency transactions.
What is FinUp's connection to Mavie Global?
FinUp is the fourth spinoff of Mavie Global, a scheme originally launched under the name Ultron in 2022. Mavie Global has produced multiple spinoff ventures, including Travelution, a discount travel MLM opportunity announced in December 2024 as the sixth entity associated with the network.
Which regulatory body issued the warning against FinUp?
The Comisión Nacional del Mercado de Valores (CNMV
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