It should be noted that it is feared that Vayo Coin will have a fate similar to that of Generation Zoe. This Wednesday it was reported that four other people were arrested for repeated fraud and illicit association in the case in Villa María, in which an alleged pyramid fraud is being investigated.
Given this, the CNV assured that “it will reiterate a series of warnings and recommendations” before the proliferation of offers of “investment in financial products, predominantly unregulated, through websites, television, radio, graphic media and multiple social networks, with the participation or sponsorship of public figures”.
In this regard, they indicated that “the investing public must carefully analyze the nature of the investment to be made and duly weigh its risks. In this sense, it is advisable to be skeptical about the sponsorship, often paid, by famous people on these types of investments and remember that it does not necessarily imply that the offer is legal and/or suitable for any type of investor. Such promotion does not imply either that the investment is safe or that profits or pre-established returns can be guaranteed.“.
It also warns that these figures “may be attracted to participate in risky investmentss, non-transparent or directly fraudulent schemeseven without knowing properly the implications of the same or for being in a better economic position with respect to eventual losses”.
Therefore, prior to making decisions in this regard, the CNV recommends carrying out a series of verifications:
• Consult the background and registration of the company involved in the offer of investment (the agents registered with the CNV can be consulted here).
• Know the background, experience and financial incentives of the sponsors. It must be taken into account that all activities related to the sale and promotion of negotiable securities or provision of any type of advice in contact with the investing public are regulated by the CNV (the list of suitable persons can be consulted here.
• Consider the potential costs, risks and benefits of the investment in light of their own investment objectives, risk tolerance, investment horizon, investments already made, their level of indebtedness, among others.
• In the case of non-regulated investments, extreme precautions to avoid unwanted effects.
• Finally, The CNV warns the investing public that it is never a good idea to make an investment decision just because someone famous recommends said financial product or service.. If you have any questions, contact the Investor Service Office of this CNV, as well as review our Investor Protection Guide here.
Vayo Coin in the crosshairs
The Central Bank of the Argentine Republic (BCRA) remains on alert since the company is not registered with the National Securities Commission, a key requirement for this type of operation. Pablo Flores, the legal representative of the firm, stated that this is explained by the fact that the company is actually a store.
“Vayo Business is in a holding company, it’s not just Vayo Business SA That’s why the National Securities Commission. There are other companies that regulate the part of the CNA. Vayo Business, basically, what it does is sell electronic products. For all the other parties, there are other companies involved,” Flores recently told Forbes Argentina.
According to Muth, the company is registered with the AFIP under the object of home appliance sales company. In the Central Bank, he has debts for 8 thousand pesos under a Limited Company.
Source: Ambito
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