Kenyans are warned not to invest in the Fxbitinvest project which promises 400% profit in 6 hours

The Capital Markets Authority (CMA) of the Republic of Kenya has warned its buyers and residents not to entrust their cash to Fxbitinvest, an organization that “trades” in Bitcoin. The warning comes after the CMA discovered that Fxbitinvest usually abused promises of extreme ROI to entice customers.

Unrealistic promises made by Fxbitinvest

According to a CMA assertion launched on Aug. 12, Fxbitinvest promises potential buyers a 400% return on funding (ROI) in simply six hours. In addition, the regulator additionally rapidly decided the variety of fee payments utilized by the backers of Fxbitinvest to elevate cash from Kenyans and buyers.

@CMAKenya warns buyers and the public not to invest with Fxbitinvest. Please learn this assertion. #investor protection #kaachonjo pic.twitter.com/IOAenzHHQ

– Kenya Capital Market Authority (@CMAKEnya) August 12, 2021

“CMA Kenya warns investors and the public against investing with Fxbitinvest.”

The CMA additionally creates a listing of individuals related to the firm as workers or owners. In it, two names have been recognized as the individuals with the proper to handle and use the project’s social media, Hassan Juma and Godfrey Koome, each of whom reside in Kenya. The third individual believed to be dwelling in North America has solely been recognized as an nameless director.

In addition to recommending that Kenyans not deposit funds with this bitcoin trading firm, the CMA stated that buyers who’ve been scammed by Fxbitinvest ought to contact the Kenyan police.

“Any investor who has been defrauded into investing in the company is advised to report this to the nearest police station. All you need to do is show your ID, depository documents, Mpesa excerpt or a signed contract and other documents to prove the claim, ”defined the CMA.

In addition, infringing buyers can file complaints immediately by the on-line complaints portal or at the CMA workplaces.

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