Sorry I don’t want to make this sub the FT
- lots of press about it, please be warned Lanistar is a Scam as it’s not FCA approved or registered so cannot operate in UK yet & shouldn’t be advertising targeting UK beforehand. Financial Conduct Authority (FCA) issued a warning after the viral Lanistar Ads & flagged it as possible investment scam due to its fraudulent behaviour operating without the proper licences or regulations. (ASA is also investigating the viral ads). Lanistar claimed it was just all pre launch advertising for a debit card that doesn’t exist yet but forced to make it clear in future ads it wasn’t FCA approved & can not guarantee up to £100,000 as claimed. Investors & financial partners quietly pulled out like MasterCard as they were misled. It’s essentially a volt card charging £20 a month with 6 month min. contract to use it, whilst other FCA approved cards do the same for free or for cheaper. A Rip off.
3000 top influencers were promised shares in exchange for promotion (to get their IG followers to pre register their details) after signing NDAs - rumour the shares held effectively no value until the company reaches £3 Billion evaluation (CEO claims it will be £60B+ in a few years - all hype). That’s according to Car influencer TGE’s podcast who after doing a deep-dive on the company, he pulled out of his contract. Also operates like a MLM pyramid scheme for influencers, if they signed up their friends to promote it, then get more shares. Shows how greedy ‘influencers’ like Amber Gill are & don’t do basic checks or care what they promote to their gullible young followers. ( Amber has now removed this Ad from her IG due to low likes but still on her IG Reels)
The CEO, Gurhan Kiziloz (29) has no previous banking experience & given £15 million by his family to fund this tech start up. (Apparently, he was previously wanted by Interpol for another internet scam & is a well known Turkish conman from North London. He used to con landlords by renting their house and not paying the landlord. He also sold nonexistent villas in Cyprus). His friend is ‘Lord Aleem’, who’s 3m Bugatti car is wrapped in a Lanistar logo to promote it. His father, Saleem Iqbal, was part of a £180 million money laundering scam - jail in 2013. All very dodgy background & associates for any bank card. Recently in the press that it’s struggling to pay staff salaries & the launch keeps getting delayed - all flashy hype for nothing. Please do not sign up for pre register or risk any of your details.