Uzbekistan warns about financial pyramid

The Agency for Capital Market Development of Uzbekistan has received requests from citizens to provide information about the legality of the activities of the Unique Finance Nasdaq Telegram channel and NASDAQ UNIQUE FINANCE UZB, which use information, photo and video materials as well as the logo of the Agency.

"The above-mentioned website, Telegram channel and the group are a financial pyramid scheme and are not related to the purchase and sale of securities on the capital markets, as well as in no way related to the activities of the Agency for Capital Market Development of Uzbekistan," the message states.

"Channel owners and groups attract public money to invest in securities of large international companies through the site's platform https://unique.finance/. At the same time, they guarantee a stable and high income, as well as additional bonuses and bonuses from referrals. The amount of bonuses may be several times higher than the amount of income allegedly received as a result of investing in securities, " the Agency notes.

The participant is promised a one-time payment of one thousand dollars when attracting three new participants with entrance fees of 5 thousand dollars, as well as 5% of the potential income of the new participants brought by them.

The unique website is demonstrated to potential participants for credibility, the content of which mostly consists of information and training material in the field of the capital market, as well as information about conducting online training.

When entering the required minimum amount and registering on the site, the participant is provided with false information about the purchase of a stake in the company selected from the list, as well as about the automatic implementation of speculative trading involving its shares on international stock exchanges.

The inspection carried out by the Agency revealed a number of signs of a financial pyramid in the activities of the above-mentioned site, Telegram channel and group. Moreover, it is established that this site is included in the register of financial pyramids by the supervisory authorities of some countries.

The Agency recommends that citizens exercise caution and refrain from investing in projects until more detailed information is revealed.