The Securities and Exchange Commission has warned the public against placing their money in Crypto Marketers, which has been offering investment contracts without the necessary license, and promising profits.
According to the SEC, Crypto Marketers is soliciting investments ranging from $50 to $1,000 with a promise of a 1.5 percent to two percent daily profit or 45 percent earnings in just 30 days.
Promoters may also earn a two percent daily dividend from the pool of money collected from all promoters, 10 percent auto distribution and from direct referral rewards.
SEC said Crypto Marketers is not registered as a corporation and partnership and is not authorized to solicit investments from the public as it has not secured prior registration from the Commission.
“The public is advised not to invest or stop investing in any investment scheme being offered by any individual or group of persons allegedly for or on behalf of and to exercise caution in dealing with any individuals or group of persons soliciting investments,” the SEC said.
Crypto Marketers claims that its system is sustainable through its efforts to maximize income for all.