The investment platform continues to be in the eye of the storm in the Buenos Aires city and suspended money withdrawals for 14 days.
As suspicions grow around the platform RainbowEx, accused of a massive pyramid scheme in Saint Peter involving around 20,000 people, the Federal Justice raided two homes in the city of Buenos Aires linked to the company.
A witness who was walking in the area recorded and broadcast a video of the moment of the raids. One of them tested positive: They found computers and documentation, while in the other there was no evidence.
The investigation is in charge of the prosecutor Matias Di Lello. As reported by TN, sources in the case indicated that it is not a pyramid scam, but rather a “unauthorized financial intermediation”.
Earlier, the National Securities Commission (CNV) had warned that the company was not authorized to operate in Argentina. The CNV report includes applications Rainbow Exchange, Rainbowex and Night Consortiumall involved in the accusation made by dozens of residents of Saint Peter.
RainbowEx suspended money withdrawals for 14 days
Hours after suspicions began to grow around RainbowEx due to fraud, the company itself sent a statement to its investors, where it announced that Money cannot be withdrawn for 14 days.
“Recently, due to misleading reports from local media in Argentina, the Argentine regulatory body decided to intervene in the Rainbow Exchange investigation. We will fully cooperate with relevant departments in the investigation and the investigation time is expected to be 14 business days. To ensure the safety of funds and fully cooperate with the investigation“We will temporarily suspend withdrawal services only for users in Argentina and their associated accounts,” the company justified.
The company also stressed that those who invested in the platform will not lose their money, but rather “they simply will not have access to it.” “RainbowEx “You must notify the Argentine government what happens with these funds,” they argued in the midst of the uncertainty that exists among the San Pedro residents.
Source: Ambito
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