In May, Reuters reports that the Financial Markets Authority's Financial Markets Authority has been placed on the list of investor warnings, a company that has recently been pulled out of its pyramid activity.
But only one month after the event, without notice, the company's Facebook account states that compulsory changes have been made and some dollar accounts have been changed to another currency.
What does Financial.org look like?
Financial.org is a company that started its business in 2016, registered in the United Kingdom and even sponsored by Williams Williams Formula One. The company is reportedly managing hundreds of thousands of dollars in assets (possibly more than now) from individuals in Asia, while not even licensing financial transactions in many of these countries.
The company introduces itself in the field of business-related education with 200,000 members, but was not included in the list of authorized companies by the British Financial Regulator (FCA) for the purchase and sale of stocks or bonds. That was recently featured in the FCA Alert List.
Formula One Williams Caravan sponsors for financial.org
Financial.org has held promotional events for its digital currency in Fouin in Kuala Lumpur, Malaysia, Shanghai, Indonesia, and other cities in Thailand and Vietnam in recent weeks.
What countries have warned about the company's activities?
So far, institutions from eight countries, including the UK, have warned of a deal with the company. According to a UAE security regulator reported in May, the company has attracted investors from across Asia and the Gulf.
The agency has warned about the deal with this website, any service provided by it and investment in related securities. In addition, the report said that Financial.org was not allowed to engage in financial transactions.
Even before, the Philippine Securities and Exchange Commission warned traders, brokers, brokers, and agencies that sponsored unauthorized investments in companies such as Financial.org to warn of 21 years of imprisonment.
In addition to the United Arab Emirates, the Philippines and the United Kingdom, other regulators in Malaysia, Laos, Singapore, Indonesia, and Thailand also put the company on the alert list for unauthorized companies. Referring to Leitz's London office location, he claimed that the name of the company changed to Mythen.
In addition, Formula One's Willianes team has not responded to Reuters.
Where's the investments at Financial.org?
17 people from China, Indonesia, Malaysia, Singapore, Thailand, Vietnam and the United Arab Emirates have each paid $ 3,000 to $ 400,000 to Finance.org. Most of them have claimed that their money has been invested in Blue Chip stocks.
Blue Chip is said to be a type of supercompany stock that has a reputation for quality, reliability, capability, and profitability.
Earlier, the company announced on its website and to seven investors that if they did not invest their investment from $ 3,000 to at least $ 10,000, they would account for 20% of their capital. For this purpose, a deadline was set for the end of May (June 10, 1397). People who had requested to cancel the investment were denied the request.
What is Fouin's virtual currency adventure?
But on June 21, news of the closure of dollar accounts for all investors and their conversion into Foin's currency is published. However, investors must still pay another amount to activate their digital currency accounts: this time, they will pay $ 7,000, and only until July 31 (August 9).
Financial.org says it's not possible to quit Fowne until next year, but it does not seem that the dollars in other user accounts are extant. Arnaud Georges, executive director of the company, said the final decisions are irreversible.
He goes on to say that he expects to become Fulian's first billionaire: "Just wait for a short year to realize its great benefit."
He also told investors or members:
"Rumors have been made that investors or dissatisfied members have decided to take legal action. Legal petitions will certainly take years and there is no guarantee of success, and you may lose the opportunity to criticize or realize your interest during the litigation. "
There have been no responses to phone calls and emails that Reuters has with the London offices and Abu Dhabi.
What do losers say?
Japan's investment has released an account of its $ 9,800 account and now has received 59 francs. He had stated that he would no longer have access to his account.
Another person from Singapore has also announced a $ 3,000 account for his account with the release of a picture of his account, but there is also no news from Fouin in his account.
Both of these people have claimed that they have not received any alerts before the dollar disappeared.
It is said that some of Iran has invested in Iran and is now pursuing activities to attract more capital.