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Kangot has been warned by Spain’s Comision Nacional del Mercado de Valores for securities fraud (CNMV).

According to the CNMV’s notice from December 20th, Kangol

is not authorized to offer the financial services, such as investment advice, listed in Article 140 of the Spanish Securities Markets Act.

In other countries, this would be the equivalent of a securities fraud notice.

Kangot was introduced in late 2019 and claims an ROI of 300 percent.

Roberto Gonzales (right), who is said to still reside in Arizona in the United States, is the company’s manager.

In April 2020, BehindMLM examined Kangot and concluded that it was a Ponzi scam based on its business strategy.

According to Alexa traffic statistics, Kangot has failed. At the same time, Kangot’s official Facebook page was taken down.

Although the company’s official Instagram and YouTube profiles are still up, neither has received any updates since early 2020.

The previously available “Roberto X Gonzalez” Facebook profile has likewise been erased by Roberto Gonzales.

The last update to Gonzales’ Twitter account was in October 2018.

Spain’s securities fraud warning implies Kangot recruiting may have stepped up again, even if it isn’t reflected in website visitor statistics for Kangol.

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