The Association of People Affected by Investments in Cryptocurrencies of Madrid filed a complaint in the Courts of Instruction of Madrid after receiving multiple cases of possible scams in cryptocurrencies carried out by Mind Capital.
Mind Capital is a crypto-fiat platform managed by Gonzalo Garcia Pelayo who has had a recognized career in the world of gambling in both casinos and sports. He created a legal method to win the game of roulette and later gave classes on how to win online poker.
The crypto-fiat platform was created under the characteristic of having the ability to identify the best times to carry out the purchase or sale of cryptocurrencies through a bot in charge of doing the arbitration process and thus ensure in a certain way that the user when taking the action, he was in a beneficial position.
Despite being a man of renown, he has received multiple accusations about being a scammer since, according to reports; the Mind Capital platform after in 2019 a considerable number of people promoted the platform through the web and social networks and decided to start investing their money through the platform. It was also a striking offer because the minimum amount was USD 100.
However, a year later in 2020, Gonzalo approached his users giving the news that the money they had invested was blocked by the exchanges with which the platform works. Thus inhibiting investors from being able to withdraw their money in a common way.
This occurs as a result of international regulations regarding cryptocurrencies and anti-money laundering policies, according to the report of the complaint to which La Información had access, in a section it said that “An enormous amount of money, possibly several million dollars, were frozen in the cryptocurrency exchanges ”
Faced with this problem, Garcia Pelayo enabled a Know Your Customer (KYC) process through which users must validate their identity so that later they can return their corresponding initial capital. However, the individuals at the time of making the complaint alleged that they only used this process to “gain time”. He explained the web portal of Information. In addition, the report of the complaint states that the complainants have said that when they receive back the initial money with which they began the investment process, it is not the real amount that they deposited as well as that they lengthen the time for return the money. In the same way, Gonzalo has shown his face in multiple media, explaining that the invested capital has been returned to each investor.
It should be noted that the various investments made had to be in bitcoins since it was a policy of the platform, therefore; users are demanding that the money be returned to them in the same digital currency and not in dollars due to the increase it has had.
Given these accusations, the call for attention made by the National Securities Market Commission (CNMV) last year regarding this platform has come to light because, according to what La Información published on its website, “It did not have the authorization to provide investment services ”.
Likewise, in Italy Mind Capital right now has a negative record after the platform provided financial services in the Italian territory without any authorization and, in short, violated various sections of the articles of the Legislative Decree.
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