Germany’s BaFin regulator has issued a securities fraud notice to Skainet Systems.

Skainet Systems and the alleged parent shell firm Cermak LLC are also mentioned by BaFin in its warning.

According to Bafin’s warning from January 22, 2025;

BaFin, a financial regulator, cautions about Cermak LLC’s offerings.

BaFin’s findings indicate that the firm uses its website, skainetsystems.com, to provide financial services and/or banking activities without a licence. BaFin does not oversee the business.

BaFin further cautions that its examination into Cermak and Skainet Systems is still underway.

Increased constraints and restrictions on withdrawals correspond with BaFin’s fraud notice for Skainet Systems.

Michael Baur, also known as Micha Baur, is the operator of the MLM trading scam Skainet Systems.