Tycoon69 has received a securities fraud warning from Austria.
As per the Financial Market Authority’s September 8th warning, Tycoon69 appears to have relocated to the UAE.
The Ponzi scheme is now incorporated through the shell company Tycoon69 FZE.
Tycoon69 founder and CEO, Stefan Hostettler (right), still operates the company from Switzerland.
As per the FMA, Tycoon69 is not registered to offer securities in Austria. The company operates illegally, in violation of Austria’s E-Money Act.
It should be noted that Tycoon69 is not registered to offer securities in any jurisdiction.