Validus has obtained a securities fraud “rip-off alert” from the Australian Securities & Funding Fee (ASIC).
As per ASIC’s November 18th rip-off alert;
Validus seems to be working a monetary companies enterprise in a way that’s more likely to appeal to Australians to put money into its monetary companies.
Nonetheless, it’s not licensed to offer monetary companies in Australia, which suggests clients won’t be protected when issues go fallacious.
That is the equal of a securities fraud discover in different jurisdictions. New Zealand issued a Validus securities fraud warning final month.
Validus is a Dubai-based Ponzi scheme run by former OneCoin scammers Parwiz Daud and Mansour Tawafi.
Addressing Validus’ enterprise mannequin, ASIC writes;
The returns promised by Validus are unrealistic. Deal with exorbitant charges of return with excessive warning.
Validus encourages traders to recruit new traders into the scheme. This can be a classical signal of a pyramid scheme.
ASIC goes on to advise shoppers who’ve already invested in Validus to “not ship any more cash”, report Validus to their native monetary regulator and “be cautious” of restoration scams.
You do not want to lodge a report with ASIC as we’ve got ample info at this stage. ASIC is unable to help in recovering your cash.
BehindMLM has lengthy been important of ASIC’s strategy to MLM associated securities fraud. The above paragraph particularly emphasizes why.
SimilarWeb tracked slightly below one million visits to Validus’ web site throughout October 2022, up from 924,000 visits the earlier month.
33% of Validus’ web site site visitors originates from France, 16% from the US, 12% from the Netherlands and eight% from Colombia and the UK.
Validus shouldn’t be registered to supply securities in any nation it solicits funding in.
