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SINGAPORE - A Singapore-registered firm is under investigation after allegedly failing to pay investors who have pumped money into its cryptocurrency investment schemes. Reports have been filed against InvesableAI with the Singapore police, and with the UnitLive' company still in operation: Singapore-registered firm that promised quick returns on crypto investments flagged by FBI, SEC
SINGAPORE - A Singapore-registered firm is under investigation after allegedly failing to pay investors who have pumped money into its cryptocurrency investment schemes. Reports have been filed against InvesableAI with the Singapore police, and with the United States Federal Bureau of Investigation (FBI) and Securities and Exchange Commission (SEC). Incorporated in the Republic on June 19, 2023, InvesableAI is believed to have promised investors quick returns on cryptocurrency investments that banked on the use of artificial intelligence technology. Its founders claimed to have sought a licence from the Monetary Authority of Singapore (MAS) and, on the firm's now-defunct website, said it was a trustworthy business because «we are a registered company», with a separate webpage showing its address in Singapore. It is a «live» company or a business that is still in operation, according to Accounting and Corporate Regulatory Authority (Acra) records. Read more