The Comision Nacional del Mercado de Valores in Spain has issued a warning to Royal Q about securities fraud.
The CNMV issued a warning on May 9th and Royal Q
is not authorized to offer the financial services, including investment advice, listed in Article 140 of the Spanish Securities Markets Act.
In other jurisdictions, this would be the equivalent of a securities fraud notice.
Following a similar fraud alert from the Philippines in October, Spain has issued a warning against the Royal Q securities.
The Royal Q MLM cryptocurrency Ponzi scheme is based on an app. The scam is thought to be run out of Asia.
Over the subsequent two months, Royal Q had a sharp decline:
The top five traffic-generating countries for Royal Q’s website, according to SimilarWeb, are Italy (13%), India (10%), Brazil (6%), Malaysia (6%), and Colombia (5%).
In none of these nations is Royal Q authorized to issue securities. Worldwide, the Ponzi scheme is run illegally.