The NSSMC warns investors about the risks of investing in the B2B Jewelry project

As part of the monitoring of dubious financial projects (scam projects *), which promise Ukrainians a quick and guaranteed income, the NSSMC warns consumers of financial services to invest in the B2B Jewelry project, which has signs of doubt and may be aimed at misappropriation of investors.

This project offers citizens the purchase of jewelry and gift certificates, which accrue very high interest rates on investment income. In this case, the gift certificate does not contain any details of the person who issued it. Directly B2B Jewelry is not the name of a specific legal entity, so there are no clearly defined responsible persons for liabilities on borrowed funds from citizens of Ukraine. In addition, almost all transactions in B2B Jewelry stores are made in cash, which does not allow to establish links with the actual beneficiaries of the project.

The NSSMC sees the actions of the B2B Jewelry project as a gross violation of the requirements of the current legislation of Ukraine. B2B Jewelry gift certificates have the characteristics of bonds – debt securities, as they certify their deposit by the first owners of funds, determine the loan relationship between the owner of such a certificate and its issuer in the person of B2B Jewelry, and can serve as confirmation of the issuer’s obligation to return the certificate to its holder. the term stipulated by the certificate and to pay the investment income predetermined in it. The issuer, represented by B2B Jewelry, should have applied to the NSSMC to register the issue of bonds before the sale of such securities to investors, but as of today this has not been done.

It should be noted that the relevant activities to raise funds and pay interest on profits in accordance with the laws of Ukraine can be carried out only by banks and financial companies registered in Ukraine that have the appropriate licenses.

After the introduction of quarantine restrictions in Ukraine, according to publicly available sources, the B2B Jewelry project stopped payments on sold gift certificates and began to offer to invest in digital assets – “B2BT tokens”, which according to the NSSMC carry the same threats of loss of funds by investors. as well as questionable gift certificates of the project.

The NSSMC has already notified law enforcement agencies of violations of the law by the B2B Jewelry project and its social danger.

Due to the lack of identification and the appropriate authority to establish such identification, the NSSMC cannot take administrative action to respond appropriately to B2B Jewelry. The Commission emphasizes that investing in this project creates significant risks of losing invested funds for investors.

We urge citizens to be careful and carefully assess the risks before investing their money! Please report all cases of non-fulfillment of obligations by the B2B Jewelry project to the e-mail [email protected].

Want to invest consciously? Read our recommendations “10 signs of fictitious investment project“