EmpiresX has received a securities fraud warning from Spain’s Comision Nacional del Mercado de Valores.
As per the CNMV’s January 17th warning, EmpiresX
is not authorised to provide the investment services detailed in Article 140 of the Spanish Securities Markets Act, which include investment advice.
This is the equivalent of a securities fraud notice in other jurisdictions.
EmpiresX is an MLM crypto Ponzi that surfaced in mid 2021. By October EmpiresX had disabled withdrawals.
Investors continued to be strung along with corporate updates till January 18th, wherein EmpiresX announced it was shutting down.
EmpiresX is run by Emerson Pires (Florida, US) and Flavio Goncalves (Brazil).
Neither Pires or Goncalves have made a public appearance since early January.