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MR. LEVERE WENT and FLOW MONEY SYSTEM

 
Action Date:
Thursday, 19 April, 2018
Posting Date:
Thursday, 19 April, 2018
Category:
Enforcement Action:
Enforcement Summary:
Tortola, British Virgin Islands – April 19, 2018 – The British Virgin Islands Financial Services Commission (the “FSC”) considers it necessary to issue this public statement in the public interest with regard to MR. LEVERE WENT and FLOW MONEY SYSTEM ("FMS") and to make the general public aware that Mr. Levere Went and FMS have never been licensed or regulated by the FSC to carry on any type of financial services business. The details are: Mr. Levere Went and FMS are believed to be promoting or carrying on within the territory of the British Virgin Islands (the "BVI") unauthorised financial services business without having obtained the requisite licence from the FSC and in breach of legislation. Mr. Levere Went and FMS are believed to have been concerned in carrying on unauthorised investment business in an investment scheme in which persons are induced to purchase Bitcoin cryptocurrency to participate and then to earn multi-level rewards in a matrix reward system by persuading other persons to participate. The public is warned against participating in such schemes The public is invited to provide the FSC with any relevant information on this matter, and any other questionable entities that are purportedly operating in or from within the BVI. The FSC has issued this Public Statement pursuant to Section 37A(2)(a) and (c) of the Financial Services Commission Act, 2001.