The Central Financial institution of Cuba, the nation’s prime monetary regulator, has issued a warning concentrating on a number of MLM Ponzi schemes.

Scams cited within the Central Financial institution’s Could thirteenth warning embody;

The operations carried out by these schemes have little or no transparency and are hidden behind an apparently technical phrasing, however devoid of content material.

All this, with out there being an actual financial worth or good to again it up.

This operation is analogous to what’s generally known as Multilevel or Pyramid Scams, additionally referred to as Ponzi Schemes.

The Cuban State doesn’t promote or approve the operation of this kind of “firms”.

None of them has a license to function inside the nationwide territory.

Cuba evidently has emerged as a market to pitch MLM Ponzi schemes to over the previous 12 months or so.

Most of them appear to be imported from Spain, probably by the identical group of scammers.

Primarily based on present Alexa visitors evaluation, Cuba is

• the first supply of visitors to Belief Investing’s web site (44%); and
• the second largest supply of visitors to QubitLife’s web site (14%)

Arresting the Director of Belief Investing as he tried to flee the nation is a begin.

Whether or not Cuban authorities can get the unfold of Ponzi schemes below management stays to be seen.