Beware of PlatinWorld & PLC Ultima – Review

The Financial Regulatory Commission of Mongolia has issued a fraud alert to PLC Ultima.

The PlatinWorld Ponzi scam run by Alex Reinhardt includes PLC Ultima.

the FRC observed on April 22;

Financial fraud, fraudulent schemes, and multi-level financial pyramids are evolving and become harder to spot as financial markets grow and goods and services get more complex.

The fact that these fraudulent schemes provide for risk-free short-term investments, huge return claims, and incentives to sign up new members is their one thing in common.

It is crucial for nations to set up a mechanism to prevent, identify, and halt financial fraud in the near term because as it grows, the number of victims grows and only the first few investors or initiators gain.

One illustration in Mongolia is the Platinum Coin (PLC) system, which encourages people to get official clearance from the FRC, raises money, offers incentives for recruiting new members, and promotes the group with the most members.

The PlatinCoin Ponzi scam by Reinhardt has been revived as PlatinWorld.

Based on passive returns, Reinhardt (right) solicits investment into PLC Ultima (PLCU).

In Mongolia, no one named PlatinWorld, PLC Ultima, PlatinCoin, or Alex Reinhardt is authorized to provide securities.

The company’s CEO, Alex Reinhardt, formerly controlled SwissCoin or Platinum Coin and is thought to have been a key player in the collapsed Ponzi scheme soon after it began.

In other nations, financial regulators have made comments and warnings.

Customers of Platinum Coin think it runs through a variety of umbrella organizations globally, including those in Slovenia, Dubai, Switzerland, Hong Kong, and Hong Kong.

Due to its high-risk nature, lack of investment, the potential for fraudulent schemes, and lack of registration with international organizations or foreign financial regulators, Platinum Coin and PLC Ultima do not hold any licenses or registrations.

The FRC continues by informing Mongolian citizens that if PlatinWorld and PLC Ultima fail because Reinhardt ran his Ponzi scheme abroad, they are on their own.

As mentioned in our post highlighting the change from PlatinCoin to PlatinWorld, Reinhardt runs his Ponzi operation out of Dubai.

The fact that Dubai is the world’s MLM fraud capital is not a coincidence.

It’s thought that Reinhardt is a German national. Additionally, according to Alexa, the majority of the visitors to PlatinWorld’s website come from Germany (19 percent ).

Even though PlatinCoin was first introduced in 2017, the German government has yet to take any action against Reinhardt or his frauds.

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