Financial controller of Texas found another fraudulent project involving captainvalor

Financial controller of Texas found another fraudulent project involving captainvalor

Officials of the state of Texas who are fighting with cryptocurrency startups at the request of the inhabitants of the state, issued some new “urgent orders about the termination of illegal actions”.

As of February 2, 2018, the Board for securities of the state of Texas (TSSB) issued a further “order on termination of illegal actions”. This time it is directed against cryptocurrency startup DavorCoin.

According to the Express orders issued by the Commissioner for securities Texas Travis George. Elsom, DavorCoin touted huge profits for investors: investments in the amount of 30 000 USD guaranteed a profit of 15 $ 390 in just 30 days. After 120 days DavorCoin stated that the investment can be as high as 107 $ 212. Department for monitoring of observance of financial obligations, also found evidence that although DavorCoin is an unregistered company, with its subsidiaries engaged in the sale of securities.

In TSSB announced that the company DavorCoin did not disclose the methods of producing profits in the future, and did not specify the location of economic activity. In addition, DavorCoin did not specify who controls the company, citing the fact that because of the “tax and regulatory risks”, the company could not “officially called the place and country of registration.”

According to the Council for the securities of the state of Texas, after official representatives of the state Commission on securities and exchange Commission issued similar orders in relation to Bitconnect, which soon closed, the company DavorCoin on the contrary intensified marketing activities.

In response to the closure BitConnect in DavorCoin stated that “[it] doesn’t change anything for us.” DavorCoin representatives argued that their company was “credit platform number one in the world.”

DavorCoin can challenge the order within 31 days from the date of its publication.

On 24 January, the Council for the securities of the state of Texas issued a similar “urgent order on the termination of illegal actions” in relation to the Hong Kong cryptocurrency startup R2B Coin.

The company R2B advertised “premininary” cryptocurrency, also called “Asian currency”, which was supposed to be working on the Ethereum blockchain. Representatives R2B claimed that cryptocurrency is one of the “most stable” ecosystem “was recognized as one of the leading cryptocurrencies in the world.” In addition, they stated that within 1-5 years this crypto currency will become “one of the ten leading currencies” and “will enter the five largest and most used digital currency [in original] in 2019”.

This matters to the R2B does not end there. The official website has a lot of inconsistencies. For example, the site posted an alleged photo of the “commercial Director Eddie Lo”, but the same photo placed over the name “George Curry” in another section of the site. The website also incorrectly States that the managing branch of “Williams Corporation”, which operates in Hong Kong and Dubai, is both “licensed intermediary” global company and “licensed securities dealer”. In fact, this branch was never officially registered by the Council for the securities, no Agency for regulation of activities of financial institutions.

Marketing affiliates R2B campaigning by phone of Texas residents to participate in “pre-sale”. In addition, the statements R2B for potential investors argued that their currency will be “unlimited” opportunity for profit after a sharp rise in value of bitcoin, and that the nature of the investment is “passive”, requiring no additional action by the investor, except for the addition of the initial amount.

Overall, the Board for securities claims that R2B are scams, as they also did not provide information about the principle of the calculation value of the issued coins. Therefore, the company must immediately cease and desist the offering of securities in the state in accordance with the securities Act of Texas.

From the regulatory authorities of the state of Texas had a lot of work: in addition to filing statements against Bitconnect in early January, local officials, the banking Commission of the state has also imposed sanctions against the company AriseBank, which violated the requirements of the legislation and used the term “Bank” without having the rights.

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