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Spain’s Comision Nacional del Mercado de Valores has issued a securities fraud notice to Royal Q.

Royal Q is not authorized to provide the investment services listed in Article 140 of the Spanish Securities Markets Act, which includes investment counseling, according to the CNMV’s May 9th warning.

In other countries, this is the equivalent of a securities fraud warning.

The Royal Q securities fraud alert comes after a similar alert from the Philippines in October.

Royal Q is a multilevel marketing (MLM) crypto Ponzi scam based on an app. The fraud is thought to be run in Asia.

Over the next two months, Royal Q’s performance plummeted:

Italy (13%) is the main source of visitors to Royal Q’s website, followed by India (10%), Brazil (6%), Malaysia (6%), and Colombia (6%). (5 percent ).

In none of these countries, Royal Q is licensed to sell securities. The Ponzi scam is unlawful all around the world.

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