The Autorite des Marches Financiers (AMF) of France has issued a securities fraud notice to UbitEx.
Ubitex is “blacklisted by the AMF because it offers financial services or products without being authorized,” according to the AMF’s warning of February 13, 2025.
French legislation forbids the offering of securities without registration. It is securities fraud to do so.
Midway through 2024, UbitEx, an MLM cryptocurrency Ponzi scam, went live.
CEO “Alex Sandro,” portrayed by an Indonesian underwear model, was in charge of the scheme.
According to Ubitex marketing, the fraud was orchestrated by Chinese scammers.
UbitEx crashed a while after introduction. Both of UbitEx’s website domains were disabled at the time of publishing.
