Is Crowd1 a Scam? Review of the Global Marketing Company
In November 2019, Norway's gaming and foundation authority, Lotteri- og stiftelsestilsynet determined that Crowd1 operates with a pyramid structure to generate revenue. Pyramid structures always eventually fail, and most people, even high up the pyramid lose their money. Crowd1 is a multi-level marketing company that aims to build a community to develop an online entertainment industry. Crowd1 is based in Spain where it trades as Impact Crowd Technology S.L.
In January 2020, in Burundi, the largest city Bujumbura Crowd1 was raided and over 300 people arrested, 17 of whom were placed in custody for promoting Crowd1, described as a Ponzi scheme
In Paraguay on 6 February 2020 the Comisión Nacional de Valores (CNV) issued a securities fraud warning against Crowd1, advising against investment. CNV identifies Crowd1 as an unregistered securities offering. Promoters of Crowd1 in Paraguay face up to three years imprisonment or a fine.
On 21 February 2020 the Bank of Namibia declared Crowd1 a pyramid scheme and warned the promoters to stop their activities immediately. The bank stated "Crowd1 does not sell tangible products or render any service of essential value, but the primary source of income for Crowd1 is the sale of membership packages to new members". The Bank of Namibia (BON) declared Crowd1's operations to be an undesirable practice, which in terms of that country's laws could mean a R1 million fine or 10 years in prison for anyone who continues to promote it. It’s 100% a Ponzi/Pyramid scheme
Stelios Piskopianos and Johan Stael von Holstein are the key figures involved and need to be investigated. They are currently riding on coronavirus fears and what they are doing is going to harm vulnerable people, which is immoral.
Pyramid schemes rely on recruiting new members and cheating the ones on the bottom. If you are ok with cheating your friends and family or any vulnerable people online who might trust you, then go ahead. I will never cross that line personally, It requires you to develop deception methods, which changes your personality and can change how you see others and how people see you.
Family and friends who are wise will lose their trust in you, so it can effect your reputation, and I have seen it destroy relationships. No matter how far up the pyramid you may think you are, you can still lose everything when the scheme can no longer recruit.
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