Argentina’s Comision Nacional de Valores issued OmegaPro a cease-and-desist order for securities fraud. The CNV initiated an investigation into OmegaPro after receiving two complaints from customers.
The Ponzi rip-off was confirmed by the authorities on March third. Traders noticed returns of as much as 400 % over the course of 16 months, all in US {dollars}.
That is increased than the 200 % ROI fee reported by us, as we talked about in our 2019 OmegaPro assessment. discovered OmegaPro to be “making a public supply of illegal marketable securities.”
They aren’t registered as certified or in any of the classes of brokers laid out in Regulation No. 26,831 as OmegaPro and Messrs. SZAKACS, SIMS, SINGH, and REYNOSO are In a public providing of negotiable securities listed on abroad exchanges however not approved by the CNV, OmegaPro and Messrs.
SZAKACS, SIMS, SINGH, and REYNOSO are collaborating in a public providing. One other time period for this may be a “safety fraud alert” in different international locations. The US and St. Vincent and the Grenadines had been singled out by the CNV for OmegaPro’s “restricted international locations” pseudo-compliance.
There’s an oddity in clause 7.3. of (OmegaPro’s) T & C, which states that the USA and, paradoxically, Saint Vincent and Grenadines are each prohibited from working with POs. Whereas OmegaPro claims to be primarily based in St. Vincent and the Grenadines, it’s in truth run by Andreas Szakac, Mike Sims, and Diliwar Singh. The CNV notes this.
OmegaPro is run out of Dubai by Szakacs, Sims, and Singh. With little oversight and no extradition treaties, Dubai is a paradise for scammers. MLM scams are rife on this metropolis. The CNV additionally refers to Juan Carlos Reynoso, OmegaPro’s Latin American supervisor, in its report.
A Mexican nationwide with connections in the USA, Reynoso is suspected to be a suspect on this case.Orders OmegaPro and its administration to instantly cease doing enterprise in Argentina are then issued by the CNV.
Due to this, the CNV has issued a cease-and-desist order to Omegapro LTD. and its workers, Andreas SZAKACS, Mike SIMS, Dilawar SINGH, and Juan Carlos REYNOSO. OmegaPro has already been sanctioned by seven totally different international locations.
Earlier this yr, Colombia, Spain, France, Peru, Belgium, and Chile all issued fraud alerts within the wake of the CNV’s newest announcement. As measured by Alexa, Colombia, Japan, and Nigeria are the highest three international locations that ship guests to OmegaPro’s web site (10 %).
