Spain’s Securities Market Commission (Comisión Nacional del Mercado de Valores) has warned EmpiresX about fraud.
As warned by the CNMV on January 17, EmpiresX
is not allowed to offer investment services like investment advice, which are listed in Article 140 of the Spanish Securities Markets Act.
In other places, this is the same thing as a securities fraud notice.
EmpiresX is an MLM crypto Ponzi scheme that started around the middle of 2021. By October, EmpiresX stopped letting people withdraw money.
Investors were kept in the dark about business news until January 18, when EmpiresX announced it was closing down.
Emerson Pires (from Florida, US) and Flavio Goncalves run EmpiresX. (Brazil).
Since early January, neither Pires nor Goncalves have been seen in public.