The Swiss Financial Market Supervisory Authority has announced that it has launched an investigation into Tycoon69. FINMA is Switzerland’s top financial regulator. Tycoon69 is an MLM crypto scheme with their own MCV Ponzi points.
A corporate address for “Tycoon69” Switzerland is provided in the footer of the Tycoon69 website. The website however provided no information about who owns or runs the company.
The company’s business model makes affiliates invest in MCV points, on the promise of an eventual return. On their website, Tycoon69 provide a corporate address in Switzerland. Details of FINMA’s investigation were announced on May 28th.
Tycoon69 sets the internal value of MCV points as they see fit, allowing affiliates to withdraw more than they invested.