ShareInStock gets blacklisted for offering pseudo-dividends for pseudo-shares


Russia’s Centre for Regulation in OTC Financial Instruments and Technologies (CRFIN) has once again updated its “Black List” of companies that exhibit the business characteristics of financial pyramids.

The latest addition to the list is particularly interesting – a company named ShareInStock claims to be offering a platform for shares of various online projects (all unlisted ones), alleging that the prices on this “alternative platform” are the real ones.

Via ShareInStock’s website: https://shareinstock.com/, investors are invited to entrust their money and promised hefty returns of up to 10% per month.

CRFIN notes that there are no guarantees that the existing investors do not get their money from the new investments.

Also, as shares trading is a regulated activity in Russia, the company should have the necessary licenses from the Bank of Russia. It does not have any, the organization says.

To view the announcement by CRFIN, click here.

The full Black List is available here. It currently features 49 entries.

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ShareInStock gets blacklisted for offering pseudo-dividends for pseudo-shares

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