Central Bank Warns About EmGoldEx

 

EmGoldEx has NOTHING to do with MLM or network Marketing…… however they are using it as tool to attract investors, giving our industry a bad name.

According to an article in the newspaper Curaçao Chronicle the central bank of Curaçao has put out an official warning against EmGoldEx.

In 2015 the SEC of the Philippines put out a Ponzi warning against EmGoldEx.

In 2014 the USA – Massachusetts Securities Division civilly charged four alleged promoters of EmGoldEx operating in that state.

The central bank of Curaçao:

There is a large illegal investment company active in Curaçao. This is according to a warning emitted by the Central Bank of Curaçao and Sint Maarten.

EmGoldEx offers investments in gold, but does not have permission or authorization to do so. According to a representative of the Central Bank, they do not have a license to solicit or to receive funds or other assets for collective investments in or from Curaçao and Sint Maarten with the objective to allow participants to benefit from investment profits.

According to article 3.1 of the National Ordinance of Supervision of Investment and Administration Institutes it is prohibited to offer participation, solicit, receive funds or other assets for collective investment without previous approval from the Central Bank.

The multi-level marketing program is offered online and encourages participants to also recruit other investors, the so-called pyramid scheme. The Central Bank also indicated that they don’t make any distinction between investments offered through the internet, in a commercial space or in public.

Investors are promised high returns, but it will not be paid.