WeShop app - anyone used?

jimjames

Slinkyx2 said:

 I’ve known people cash out thousands before the company decided to be floated on the stock exchange. 

I suspect you really mean you've been told by people online that they've cashed out. That's a very different thing.

TheSilentMeow

I haven't posted in here in years but found it searching for answers myself! I believe it's a scam, and no we are not getting any of the shares promised! There is a good video on YouTube that explains that our shares won't even be worth anything when or if it floats as no one will be using the platform anymore after all the shares are given out so the company value will be nonexistent! 

DullGreyGuy

OutdoorQueen said:
The company appear to be based in the British Virgin Islands.  As a British overseas territory, UK legislation will probably apply but trying to enforce it could be another matter.   

UK legislation doesn't apply to BOTs, they are free to adopt similar laws, adopt something similar to their neighbours to make trade easier or come up with something totally unique. 

There is a reason why Gibraltar is full of personal lines insurance companies (no Solvency II or other onerous regulations) and Bermuda full of Reinsurers. 85% of the later's economy is insurance and related FS companies because of their favourable laws. 

BVI has relaxed rules on corporate ownership/ secrecy, KYC etc which makes it a prime target for corporate formation, shipping and investment and so also real estate if you want to buy a mansion or 10 somewhere in the world without anyone knowing who really owns them.