CBI Global Review- Scam

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You’ll notice a VASP registration message as soon as you land on the CBI Global website. This means that CBI Exchange (Pty) Ltd is an officially recognized Virtual Asset Service Provider with the Financial Intelligence Centre (FIC) Namibia. Please review our VASP Disclaimer.   

Botha figured he could pull a fast one instead of registering CBI Global with the Bank of Norway.   

His Ponzi scheme of smoke and mirrors was just as deceitful as Botha’s. Startling “VASP” refers to a company that provides “virtual asset management” services. Registration with Namibia’s Financial Intelligence Center is required for this. 

As I wish to make crystal clear, a VASP license has nothing to do with securities and is not a substitute for registration with the Bank of Namibia.  In other words, enrolling as a VASP for MLM due-diligence is of no use.   

According to the Namibia Economist, the Financial Intelligence Centre (FIC) stated on May 17th that it never authorized CBI Exchange Namibia to function or conduct business in the Virtual Asset market because it is not a prudential licensing agency. It comes after the Center became aware of a webinar on social media claiming that CBI’s FIC registration allows it to provide certain services to the public under the jurisdiction of the FIC. It was Botha’s decision to simply register for a VASP and move on.   

Although CIB is registered in accordance with the Financial Intelligence Act, the Centre said, it does not amount to prudential licensing and CBI must ensure complete compliance with all relevant prudential licensing requirements and other legal requirements it may be subject to. 

CBI Global’s website was updated with a fake compliance notification, which he used to convince his affiliate investors that CBI Global was authentic on social media.   

In most cases, this is how MLM Ponzi scams deal with basic certificates of incorporation. However, the term “Virtual Asset Service Provider” has a more professional ring to it.   

As the Namibia Economist points out, licensed financial institutions, including the Bank of Namibia and the Namibia Financial Institutions Supervisory Authority, are required by law to get a prudential license before providing financial services to the general public (NAMFISA).   

Neither Botha nor his CBI Global will be registered with the BoN. In doing so, Ponzi would be exposed.    He is instead taking the government of Namibia to court, claiming that he has a right to run a Ponzi scheme. That particular case is still in progress today.   

Botha was just in Dubai for a GSPartners Ponzi promotional event. He refused to talk about the trip or his future plans publicly during a recent CBI Global webinar.   

Botha formed a partnership with GSPartners to get CBI Global investors into the Ponzi scheme.

You’ll notice a VASP registration message as soon as you land on the CBI Global website. This means that CBI Exchange (Pty) Ltd is an officially recognized Virtual Asset Service Provider with the Financial Intelligence Centre (FIC) Namibia. Please review our VASP Disclaimer.    Botha figured he could pull a fast one instead of registering…

You’ll notice a VASP registration message as soon as you land on the CBI Global website. This means that CBI Exchange (Pty) Ltd is an officially recognized Virtual Asset Service Provider with the Financial Intelligence Centre (FIC) Namibia. Please review our VASP Disclaimer.    Botha figured he could pull a fast one instead of registering…

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