CBC Finance is a Romanian company. The domain CBC-finance.ro was registered on January 4, 2019 for 1 year. But their previous domain, cbc-it.ro, was registered back in 2017 for 3 years. Their Facebook page, Digital Coins & Financial Matters, was created on March 26, 2015. Is CBC Finance a legitimate company or a scam? Let’s see…
CBC Finance Services
CBCFinance offers a wide range of services within the blockchain industry, including:
- Trading (“quick money”)
- Investment plans
- Educational plans & courses (though the link from their site to the education platform seems to be broken…)
It seems like they were also intending to start offering the following additional services:
- Blockchain consulting for lawyers, accountants, developers, and law enforcement agencies.
- ICO Advisory – for people who want to start an ICO
- Crypto asset management
- Crypto Payments Implementation
- Mining Plans – We provide mining equipment, location and cheap electricity
But all the links lead to a Coming Soon page with an expired count down timer. It seems like currently only trading and investment plans are actively offered. Or they just forgot to update the site…
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Deposits can be made via bank transfer (RON, EUR, GBP, USD) or to cryptocurrency wallets including Bitcoin, Ethereum, Ripple, and Litecoin. There’s a a flat 2% fee for every non-cryptocurrency deposit made.
Every month, on the 29th, CBC Finance sends out a report with the accumulated percentage for the period 1 – 28th of the month. For users who have reached their lock in period, they send a full account statement.
Withdrawals can be made in USD (cash or wire), BTC, and ETH. If the withdrawal is made within 5 days after the 1st of the month, it is charged with a 5% fixed fee, while if it is made within 20 days after the 1st of the month, there’s a commission of 1% for international transfers, and 10 RON for domestic payments.
There’s also a 30% Performance Fee.
Trading
There are at least three trading products offered by CBC Finance:
- Trade Express: For people looking for quick returns, along with a low to medium risk, your funds will be managed by a team of experienced cryptocurrency day traders.
- Smartrade: For people looking or wealth, along with a very low risk degree. The longer period allows to generate profits also from compound interest accumulation.
- Sure Trade: Benefit from long positions, hard forks, sudden market moves, and developments within the cryptocurrency industry.
With a short lock in period, investing your money into a day trading service which claims high returns may seem tempting. But where is the proof? No proof is shown anywhere regarding investment performance.
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Well, there is a Monthly Reports Graph, but it doesn’t specify which investment plans the data reflect.
Futures trading is also offered. The minimum investment is $250. The maximum may be $1,000. The funding period is 20 days, while the contract period is 45 days. Potential gains are 300-500%. What’s in it for CBC? That performance fee we mentioned earlier of 30% on generated profits…
Investment
With CBC Finance’s Crypto Flex Invest, a 24-month investment plan is created with a monthly payment plan to suit any budget. Possible gains: 20x your investment. Acceptable 10% risk degree on capital invested. There are 3 Crypto Flex Invest plans:
- Flex Invest 100 – Invest $100 per month
- Flex Invest 250 – Invest $250 per month
- Flex Invest 500 – Invest $500 per month for possible gains of 40x your investment over a 16-month period. Risk degree for this plan is 25%.
The company’s revenue equals to 25% of the gross generated profit.
CBC Finance also offers a program called Level Up Investments, a 24 month plan starting from $3,250 to $25,000. The money is allegedly invested for 24 months in lucrative and carefully selected blockchain and crypto currency projects. There are 4 plans:
- Bronze – Invest $3,250 to generate a target goal with returns of up to $32,500.
- Silver – Invest $4,000 to generate a target goal of $40,000.
- Gold – Invest $15,000 to generate a target goal of $200,000.
- Platinum – Invest $25,000 to generate a target goal of $500,000.
In the Level Up Investment program a company fee (applied on the profits generated) ranges from 15% for the platinum plan through 20% for the gold plan to 30% for the bronze and silver plans. Moreover, a management fee (appled per year on the total value of the portfolio) is 1% for gold and platinum and 2% for bronze and silver.
Education
Some information is provided, but the service does not seem to be available at the moment.
They are basically offering courses regarding topics such as blockchain and cryptographic systems, cryptocurrencies, how blockchain works, development strategies and how to maximize your profits using cryptocurrency systems, and more.
The teachers are the same traders that trade for clients of the day trading and investment products.
To join the courses, one must be willing to dedicate one evening a week to attend the course and another 2-3 hours for individual study.
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Who is Behind CBC Finance?
8 people make up the CBC Finance team:
- Cristian F. Pricop (Executive Director & Trader)
- Cristian Dreghiciu (Administration / Logistic Manager)
- Alexandra Prodan (Senior Sales Manager)
- Anthony Harisson (Business Development Manager)
- Eugen Maciuca (Senior Trainer)
- Ana Maria Ionica (Office Manager)
- Bjarne Virenfeldt (Legal Advisor)
- Letitia Stancu (Accounting Manager Strategic)
CBC Finance is a registered entity of CBC IT INNOVATION SRL, with headquarters in Str. Calea Vitan, No. 238, District 3, Bucharest, Romania, registered at the Trade Registry in Bucharest under number J40/7936/2017, CIF/VAT ID: RO37656560.
Address: 3 Duiliu Zamfirescu Street, District 1, Bucharest, RO
Additional address: 97, Vila 1, Iancu Nicolae Street, Voluntari, Pipera, RO
I’m unsure why there are three different addresses listed on the site. Also, 3 phone numbers:
Tel: +40 (0) 21 555 0676
Additional number: +40 (0) 746 106 371
Additional number: +40 (0) 756 022 500
Email: contact@cbc-it.ro & contact@cbc-finance.ro
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Facebook.com/cbcitinnovation/
Review Conclusion: is CBC Finance a Scam?
Overall, the operation seems a bit sloppy, not fully cooked, and unprofessional. On the other hand, there seem to be real people behind CBC Finance. Personally, we would not risk our money by investing with this company. The returns promised seem way too good to be true and without evidence of past performance, we would highly doubt them.
Still, to call CBC Finance a scam we would need some complaints from people who have invested with them.
So please make sure to let us know by commenting below if you have any first-hand information regarding CBCFinance.
Thanks for reading this quick warning, and as always you are welcome to let us know if you have any questions.
I am a CBC customer since 2020. I have received only excuses and copy-paste emails.
It is a scam for sure. Probably this small dick guy, Cristi, will get nothing from the Romanian justice.
Stai linistita, pentru banii care ii am de recuperat o sa apelez la camatari si tot o sa-i vad!
This company are pure frauds, full of phonies who are out to steal your money, you are honestly better off putting your money into a sinkhole as you have some chance off getting it back, but not with this lot. Constant lies and fake promises..
Myself and others have been with this company since their birth and my god has it been the worst experience i have ever endured, and trust there have been a few.
Each month they would lie and say how great our investment is doing and not in one single month was there a loss (there is over a 3 year span).
It has now been over 2 years later since our first fund request and we are still waiting for our withdrawal (which is meant to take no less then 30 days) but each month its been excuse after excuse, for a company supposedly trading millions a month, why is a simple withdrawal so hard..
The excuses would vary from they don’t have the correct bank account details, or they don’t have a trading bank account to transfer the funds (which you would think is standard for all trading companies), then to more recently ” AML and KYC forms on the whole database needs updating and finally oh Covid is here, we are still trading and making millions each month, but we cannot release the funds?
The withdrawal was made way before Covid started and when the AML and KYC forms needed to be updated.
I can happily provide anyone with evidence for this awful experience and advise you all to avoid this company like the plague!!!
Hi Matthew,
Why don’t you share the full story if you like washing your family’s laundry in public? We are talking about your father’s business, partly.
Why don’t you say that you and Adam C. have not talked to our customer service, but mainly through one of our partners, which happens to be your friend’s father?
If you have a personal grudge against your family, that is your issue to take with them, not with our company. Any attempt into discrediting our long term working company, with real offices, thousands of payments to clients and regulatory work will only result into a letter from our legal team, since we do not tolerate this kind of behaviour.
As for official information, we are more than happy to pay you, as we have currently resolved all of the issues at hand containing, but not limited to:
-Licensing issues
-Banking issues
-Accounting rules
and so on.
You do have to take into consideration that yes, we did have some issues, due to banking and crypto all over the world, not only in Romania, and we are willing to share some of the information which includes abuse from banks, closure of accounts and legal work put into finding a solution, with success from our side.
And yes, we do respect the law, we are a real company, and we have paid out millions.
Truth is, I understand your frustration caused by the current issue, but it does not give you the right to call us a scam company.
Should you really have an issue even after what was communicated to you through the email from the 1st of February 2022, feel free to take it up with us or via a lawsuit, although it is a bit redundant.
We have currently re-started the process of paying out clients, but we have to take into consideration Romanian legislation, and pay using FIFO Method.
Thanks very much in advance for your understanding.
Hello.
I am trying since more than one year to get money back and I have received only excuses; a long list of various excuses (now, the latest excuse is Ukraine war – no shame to use such a tragedy as an excuse!).
I see that Cristian P is happy to pay, but I have never get any payment (or at least a date when the payment will be done).
The Fact is that THEY DON’T PAY, they just send excuses and they just promise that the situation will improve soon….also, when I read Cristian P invitation to take legal action against his company, this is just another confirmation of the real situation and their intention.
I will follow Cristian P advice and suggest the same to everyone else: TAKE LEGAL ACTION against this company. Is not the easy solution, will take time, but there is no reason to wait another one year and get only stupid excuses.
Tudor
Hi Tudor,
Really interesting hearing your story, does not surprise me one bit! They are full of excuses and the reply we got from that Christian P is nothing but a joke which does not warrant a reply.
Regarding legal action, me and Matthew are in talks with Romanian law companies for UK residents and waiting for us to give them the green light once they fail to meet another payment deadline they promised us a few months (we are not hopeful one bit as surprise surprise time is almost up without a word from them since)
This company is rotten to the core, if you need any help with evidence for your case please do not hesitate to ask as we are living proof that this company are scam artists.
Good luck!
Hello. Has anybody succeed to recover their investment ? Thru lawsuit ? Or thru this company that is advertising on this site (CNC Intelligence) ? Can somebody recommend a lawyer on this matter ? Is there anybody that got the money from them without a lawsuit, as we all should, are there some positive examples ?
Hello,
Yes, this is a very good question, has anybody recovered their investment, legally?
Hi Tudor,
For sure there are nerves, money and time involved into this situation, my only problem is that they are not truly transparent, I know there are a lot of problems with crypto market, but this is not an excuse for the situation, the big problem is that we don’t know exactly a timeframe for the payment. There are a lot of people who want to recover the investment, with all the costs. I hope they will pay all of us this year, if not it will not be a good situation for them.
Hey,
i read almost all comments and sadly i have almost the same problems..i and my 5 friends who all join CBC have same problems with withdrawls..we wait for like 2 yrs + for it and all we got is excuses after excuses..i undersntad banks didnt suport crypto but at least we are happy to get direct CRYPTOs but guess what they didnt seend crypto too..funny is because almost all are public persons ,
i try to contact them several times + my friends do the same 🙁 we are extremly angry about this situation 🙁
hope everything goes normal !
Well funny you should mention this! I have account with them and asked to withdraw my money with few other people who have their own accounts with them and been non stop lies, fake emails that is coming, blaming covid (even though we withdraw before covid)
This has been on going now since the summer before covid, I have withdraw two separate amounts and the one that keep promising is coming whilst month by month goes by, I am not even sure what that one is ha. I have no idea where the other one is, they seem to go on holidays a lot so I presume cocktails and a camel.
They are real people, one of them is one of my friends dad but he is honestly the worse of the lot, so crooked, bores you to death of the phone into submission that all is well.
They may of been ok years ago (not via personal experience but maybe for one of you) but they are atrocious now, they honestly still send automated emails of the gains every month even though I withdrew my money years ago and cannot gain anymore.
The recent email is that they finally have a bank account to pay us and for everyone to leave the people dealing with it alone…
DO NOT USE THIS COMPANY I PROMISE YOU, LIKE I SAID MY FRIENDS DAD IS THERE AND HE HAS RIPPED US ALL OFF. WHAT DO YOU THINK HE WILL DO TO YOU?
Happy to provide evidence via something to help anyone avoid this terrible, awful, disgusting company.
Good luck if not.
Adam 🙂
Hi Adam. Can you send me an email to discuss more details? untrecator1@gmail.com