Spain’s Comision Nacional del Mercado de Valores (CNMV) has issued a securities fraud notice to Mavie Global’s FinUp subsidiary.
Pursuant to the CNMV’s FinUp alert from January 13th;
Regarding the financial instruments listed in Article 2 of the Spanish Securities Markets and Investment Services Act, including, for those purposes, foreign currency transactions, the [CNMV] cautions that FinUp is not authorised to offer investment services and activities subject to activity restrictions under Article 129 of said Act.
Originally introduced as Ultron in 2022, FinUp is the fourth offshoot of the Mavie Global Ponzi scam.
In December 2024, the sixth Mavie Global offshoot, Travelution, a cheap travel multilevel marketing opportunity, was revealed.
Although the main Mavie Global Ponzi fell apart in June 2024, its offshoots continue to operate like zombies.
AI cryptocurrency trading is FinUp’s Ponzi scheme. FinUp not only doesn’t register with financial regulators, but it also doesn’t offer any concrete proof that it makes money from trading.
Andrea Zanon was also arrested in late 2023 by Spanish police.
The Ponzi scheme’s original face, Zanon, was replaced by a succession of revolving-door figures when he vanished.
Around the time of Zanon’s imprisonment, Patricio Pozzi, the last successor, vanished.
Zanon has been accused by Spanish authorities of money laundering, document falsification, organised criminal involvement, and aggravated fraud. The estimated losses for Nimbus Platform are 112 million euros.
Regretfully, after Zanon’s arrest, there have been no developments in his case.
What’s remained of Nimbus Platform announced a Syncord branding in November 2024, eleven months following Zanon’s incarceration.
However, it seems that the switch to Syncord has halted. Through an NFT investment grift, Nimbus Platform’s website, which is still self-branded, pitches customers on up to 60% a year.
SimilarWeb was monitoring about 3200 monthly visitors to the Nimbus Platform website as of December 2024.
Spain is where 99% of visitors to the Nimbus Platform website come from. India is responsible for the remaining 1 percent.
