Author Avatar

editor

0

Share post:

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

Trust Investing is not authorized to perform the investment services listed in Article 140 of the Spanish Securities Markets Act, which includes investment counseling, according to the CNMV’s April 4th warning.

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

The Trust Investing website domain referenced in the CNMV’s warning is “trustinvesting.github.io,” which is worth noting.

This is a GitHub Pages webpage that is “hosted directly” from a GitHub repo. I’m a little perplexed because Trust Investing’s original website, “trustinvesting.com,” is still up and running.

The GitHub Pages site appears to have been set up by an affiliate, in my opinion. A “starts now!” button may be seen in the top right corner of the GitHub Pages site.

Clicking that appears to take you to a Trust Investing affiliate referral link that is broken. Trust Investing may have canceled the affiliate’s account as a result of the CNMV’s fraud alert.

However, I’m not clear why the GitHub Pages site is still up.

In any case, Spain’s Trust Investing warning comes after the arrest of Ruslan Concepcion, a top executive, in Cuba in April 2021.

Concepcion (right) was detained while attempting to board a flight to Russia.

Concepcion was freed by Cuban authorities in October 2021; I couldn’t find out what happened to him after then.

Concepcion looks to be still in Cuba, based on his recent Facebook updates.

Cuba accounted for 44% of visits to Trust Investing’s website at the time of Concepcion’s arrest.

Throughout 2022, SimilarWeb indicates a renewed increase in visitors to Trust Investing’s website:

Recruitment for Trust Investing has halted in Cuba since then. Brazil (17%), Italy (12%), Colombia (9%), and Peru (8%), among others, are already pouring investors into the Ponzi scam.

Diego Chaves, the CEO of Trust Investing, is in charge (right).

Chaves has deactivated his social media pages in response to the CNMV’s warning.

We thought Chaves was based in Spain when BehindMLM examined Trust Investing in July 2020. It’s unknown whether he’s still in the nation after the CNMV’s warning.

30th of May, 2022 – After doing some additional research after releasing this piece, I discovered that Trust Investing had gone bankrupt last year.

The seven-month-long exit scam is still going on at the time of this update.

MyDailyChoice Review - Is a Fraud
Liyeplimal Review - Is a Fraud

Leave a Comment

Your email address will not be published. Required fields are marked *