The Czech National Bank has issued a securities fraud warning against Ponzi Crowd1, while the founder stop the game
The Czech National Bank issued a securities fraud warning against Ponzi Crowd1.
The Czech National Bank has issued a securities fraud warning against Ponzi Crowd1
On 9 December, the Czech National Bank issued the following warning:
“CROWD1 Network Ltd. and Impact Crowd Technology SL do not have any authorization to provide investment or other services on the financial market in the Czech Republic and the Czech National Bank does not supervise their activities. Any investment is not legally insured.”
To date, Crowd1 has attracted the attention of regulators in New Zealand, Mauritius, South Africa, the Philippines, Norway, Namibia, Paraguay, Gabon, Vietnam, Cote d’Ivoire, Slovakia, and Hungary.
Crowd1 was founded by Jonas Erik Wener in mid-2019. The Ponzi scheme is run by CEO Johan Stael Von Holstein. Both Wener and Holstein are believed to be Swedish citizens currently residing in Spain. Together, Wener and Holstein run Crowd1 from Spain.
CEO Johan Stael von Holstein has abandoned Crowd1 and investors
The sudden announcement, delivered through a press release from Mattias Tönnheim, the project’s PR officer, was as follows:
“As of November 23, 2020, Johan Staël von Holstein steps down as CEO and sole administrator of TIM and leaves both the Crowd1 and the ICT organization due to health reasons.”
Whether that’s true or not, Holstein had previously denied becoming CEO of Crowd1, despite a series of accusations he was lying.
At a Crowd1 event held in January 2020, Holstein took to the stage to present his 3 to 5-year plan to bring Crowd1 into NASDAQ and become a publicly-traded company.
Jonas Werner, the founder of Crowd1, stated:
“Of course both I and the board respect Johan’s decision, but at the same time, we think it’s a shame to lose a strong personality with a lot of knowledge. In any case, we would like to thank Johan for his valuable contributions to Crowd1 and wish him good health and all the best for the future.”
Holstein is being replaced by Johan Westerdahl, promoted from Commercial Director of Crowd1. According to his LinkedIn profile, Westerdahl lives in Malmo, Sweden. Holstein ran Crowd1 with Jonas Werner from Spain.
Whether or not Holstein escaped from Spain is still unclear. The problem is Holstein’s departure. Holstein took investor Crowd1’s money and made a very sudden disappearance. Just last week, Crowd1 received three stock fraud warnings across Europe (Slovakia, Hungary, and more recently the Czech Republic).
All in all twelve countries issued a stock fraud warning against Crowd1. Unfortunately, neither Spain nor Sweden has taken any action, at least not in public.
So far, Swedish and Spanish authorities have not taken any action against Crowd1 or its executives. Crowd1 is currently heavily promoted across Russia, Azerbaijan, and Qatar.
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