Introax has received a securities fraud warning from the Russian authorities.
As per the
Bank of Russia’s February 2nd warning
, Introax exhibits “signs of a financial pyramid (scheme)”.
Introax solicits investment on the promise of daily returns of up to 5%.
BehindMLM
reviewed Introax
on January 25th. We found evidence of securities fraud and concluded Introax was a Ponzi scheme.
On January 31st Jharol Smith, a serial promoter of Ponzi schemes, announced
Introax has stopped paying
.
In his video Smith claims the Telegram used to coordinate Introax investment has also shut down.
Smith documents participation in fraudulent investment schemes on Bank of Jharol, with the aim of recruiting others under him.
Smith, a resident of Maryland in the US, is not registered with the SEC.
🤖 Quick Answer
What is Introax and why did Russian authorities issue a warning?Introax is an investment platform that received a securities fraud warning from the Bank of Russia on February 2nd for exhibiting characteristics of a financial pyramid scheme. The company promised daily investment returns up to 5%, attracting investors through fraudulent solicitation practices that contravened Russian financial regulations.
Who is Jharol Smith and what role did he play in Introax?
Jharol Smith is a Maryland-based serial promoter of Ponzi schemes unregistered with the SEC. On January 31st, he announced that Introax had stopped paying investors. Smith documents participation in fraudulent schemes on Bank of Jharol to recruit additional investors under his network.
What evidence indicates Introax operated as a Ponzi scheme?
BehindMLM's January 25th review identified multiple fraud indicators including unsust
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