Spain’s Comision Nacional del Mercado de Valores (CNMV) has issued a securities fraud notice to Quintessential Business Network (QBN).
In accordance with the CNMV’s warning from February 25th;
QBN is prohibited from offering investment services and activities that are subject to activity restrictions under the Investment Services and Securities Markets Act of Spain.
According to Spanish financial legislation, it is unlawful to offer unregistered securities. It is securities fraud to do so.
An MLM cryptocurrency Ponzi scam is QBN. Based on its QBN cryptocurrency, the fraud uses a “staking” Ponzi scheme.
Getting up Anwaar Qureshi, Farid Ladhani, Maher Awad, and Tariq Ausaf are the co-founders of QBN.
It is thought that all four of QBN’s co-founders were from Texas. Additionally, they were once proponents of the now-defunct BizzTrade Ponzi scam.
QBN’s marketing contradicts the operation of a fraudulent investment scheme and its composition of serial fraudsters:
SimilarWeb recorded about 4100 monthly visitors to QBN’s website as of January 2025, an 82% monthly decrease.
