QZ Asset Administration has obtained a Ponzi fraud warning from the Philippines.
As per the Philippine SEC’s Might thirtieth advisory;
Based mostly on stories and knowledge gathered by the Fee, people or teams of individuals claiming to signify and working utilizing the title “QZ ASSET MANAGEMENT” are engaging the general public, via social media to put money into the entity.
The transactions entered by QZ ASSET MANAGEMENT via their on-line buying and selling platform are thought of “funding contracts” and have to be registered with the Fee.
QZ Asset Administration isn’t registered with the Philippine SEC, which means the enterprise is committing securities fraud.
The Philippine SEC goes on to conclude QZ Asset Administration is a Ponzi scheme.
Moreover, the funding scheme of QZ ASSET MANAGEMENT has the traits of a “Ponzi Scheme”.
BehindMLM reviewed and recognized QZ Asset Administration as a Ponzi scheme in November 2022.
Therefore, the general public is suggested NOT TO INVEST or STOP INVESTING in any funding scheme being provided by any particular person or group of individuals allegedly for or on behalf of QZ ASSET MANAGEMENT and to train warning in coping with any people or group of individuals soliciting investments for and on behalf of it.
QZ Asset Administration promoters within the Philippines face a 5 million PHP wonderful and/or twenty-one 12 months jail sentence.
All through March and April 2023, QZ Asset Administration was being promoted within the Philippines by Valuable Pria Chiradza, Ruledan Dagsaan, Joselito Bantolo Jr. and Jervic Ramon Balinggan.
Chiradza, initially from Botswana, is a prime QZ Asset Administration ringleader in South Africa. Dagsaan, Bantolo Jr. and Balinggan are native Philippine Ponzi promoters.
As a substitute of acknowledging her function in QZ Asset Administration scamming, Chirazda is busy pretending her victims are grateful for his or her losses:
QZ Asset Administration collapsed in early Might. The Ponzi scheme’s exit-scam accomplished on Might 25, culminating in QZ Asset Administration’s web site being disabled.
The Philippine SEC’s warning was doubtless issued following native traders complaining about losses after the collapse.
QZ Asset Administration was fronted by Blake Yeung Pu Lei.
Lei (doubtless an alias) is believed to move up a gaggle of Chinese language scammers working from Hong Kong.
