PetronPay has acquired a securities fraud warning from Quebec’s Autorite des Marches Financiers (AMF).
As per the AMF’s March 14th PetronPay warning;
PetronPay [is] not registered with the Autorité des marchés financiers (AMF) and isn’t licensed to solicit buyers in Québec.
Providing unregistered securities in violation of Quebec monetary legislation constitutes securities fraud.
PetronPay was an MLM “oil barrels” ruse Ponzi launched in 2020. In April 2021 PetronPay disabled withdrawals and collapsed. A crypto token exit-scam was initiated however didn’t go wherever.
In April 2022 it emerged PetronPay had continued to defraud buyers by means of a second web site area. PetronPay’s reboot noticed the US subject a fraud alert.
At the moment PetronPay’s unique web site area redirects to a crypto on line casino. Petron’s second web site area is disabled.
It’s unclear whether or not new PetronPay scamming prompted AMF to take motion, or whether or not the regulator is simply extraordinarily late with its warning.