Mavie World’s FinUp spinoff has obtained a securities fraud warning from Spain’s Comision Nacional del Mercado de Valores (CNMV).
As per the CNMV’s January thirteenth FinUp warning;
The [CNMV] warns that FinUp isn’t authorised to supply the funding companies and actions topic to the exercise restriction
in accordance with the provisions of Article 129 of the Spanish Securities Markets and Funding Companies Act, in relation to the monetary devices detailed in Article 2 of stated Act, together with, for these functions, international forex transactions.
FinUp is the fourth spinoff of the Mavie World Ponzi scheme (initially launched as Ultron in 2022).
Travelution, a reduction journey MLM opp and sixth Mavie World spinoff, was introduced in December 2024.
The unique Mavie World Ponzi collapsed in June 2024 however its spinoffs linger in a zombie-like state.
FinUp’s Ponzi ruse is AI crypto buying and selling. Along with failing to register with monetary regulators, FinUp fails to supply verifiable proof it generates ROI income by way of buying and selling.
As of December 2024, SimilarWeb was monitoring ~10,600 month-to-month visits to FinUp’s web site.
50% of FinUp’s web site visitors originates from Ukraine, adopted by 36% from France and 4% from the US.
Mavie World, FinUp and the opposite spinoffs had been/are run by Michael Prazenica (aka Michal Prazenica).
Initially from Europe, Prazenica now spends his days hiding out in Dubai.