Dubai has issued a securities fraud notice to Zeniq Technologies.
That’s not a typo, either.
The real firm behind Zeniq Coin is called Zeniq Technologies. The Safir International Ponzi scam in turn uses Zeniq Coin.
Erwin Dokter, who relocated to Dubai in the middle of 2021, is the CEO of all three businesses.
The DFSA issued a warning on December 5th,
Zeniq Technologies is cited as having “legal status” under the control of the DIFC and holding a DFSA license on several websites.
The DFSA notifies you that Zeniq Technologies is not currently authorized by the DFSA to provide financial services from or to the DIFC, and it has never been.
“Dubai International Financial Center” is referred to as DIFC. It’s a
a unique economic region in Dubai with its own autonomous, globally controlled regulator, judicial system, common law framework, international financial interchange, a tax-friendly system, and a sizable corporate community.
The DFSA makes it clear that Zeniq Technologies has a fundamental DIFC incorporation, but this has no bearing on its ability to provide financial services.
Having its corporate headquarters in the DIFC, Zeniq Technologies is authorized to do specific non-financial services business there or from there.
However, because the business lacks a DFSA license, it is not allowed to provide financial services from or within the DIFC.
Norway (26 percent), Saudi Arabia (6 percent), and India are now Alexa’s top three countries for directing visitors to Safir International’s website (6 percent ).
The majority of visitors to the Zeniq Coin website come from Saudi Arabia (19%), India (16%), and Vietnam (3 percent ).
The website for Zeniq Technologies receives very little traffic.
According to BehindMLM, Dubai is the world’s epicenter of MLM fraud.
It turns out though that the DFSA could ultimately expose you if you claim to be registered to provide securities in DIFC (which most MLM Ponzis operating out of Dubai don’t).
3 January 2022 update Zeniq Technologies has reacted to the DFSA’s warning about securities fraud.