Market watchdog investigating US-registered firm over alleged pyramid scheme

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Market watchdog PSZÁF suspects that American registered company Freedom Rocks Inc., which is engaged in forex market trading, built a pyramid scheme in Hungary, origo.hu writes, based on MTI.

The PSZÁF said it was investigating operations of Freedom Rocks for conducting unauthorized investment services. The investigation concluded that activities of the company, which distributes sofware helping forex market trading, do not qualify as investment services or intermediation of investment services.

Last year, the PSZÁF investigated shoppers club Sciennet for similar reasons.

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