QZ Asset Management’s Ponzi Scheme Collapses, Targeting African Investors
- MLM News
- May 30, 2023
In the most recent development, QZ Asset Management’s online presence vanished without a trace.
This unexpected action signifies the collapse of what is now recognized as a sophisticated Ponzi operation with a false promise of SEC audit.
QZ Asset Management, which wiped out its social media footprint simultaneously, was unveiled in the latter part of 2022 as a high-yielding Multi-Level Marketing (MLM) cryptocurrency Ponzi operation promising 400% returns.
It’s suspected that the scheme was orchestrated by unscrupulous individuals residing in Hong Kong and primarily took advantage of investors across the African continent.
The elaborate exit strategy of QZ Asset Management surfaced in late March, beginning with the concocted announcement of a NASDAQ listing.
The scheme intensified a few weeks later when QZ Asset Management blocked its clients from making withdrawals starting May 1st.
Despite CEO Blake Yeung Pu Lei’s assurances that the withdrawal freeze was a routine aspect of an impending SEC audit, it’s noteworthy that the SEC does not conduct audits of private firms.
As QZ Asset Management was retreating from its victimized African investors, top-tier promoters continued to perpetuate the far-fetched narrative of a NASDAQ listing.
The firm’s web presence was further minimized with the deactivation of their FaceBook and YouTube accounts.
While QZ Asset Management’s Twitter account remains visible, it was abandoned early in February.
Given the inherent difficulties in prosecuting cross-border cryptocurrency scams, China is unlikely to take regulatory action against QZ Asset Management.
Similarly, due to the international nature of these fraudulent activities, African authorities may have limited capabilities to intervene.
At this time, concrete information regarding the extent of QZ Asset Management’s damage, including the total number of victims and their monetary losses, remains undisclosed and uncertain.
Tired of scams?
Keep reading…
Do you want to know a 100% legit way to make an income from home?
What if you could build a passive income stream that’s actually passive?
An income stream that doesn’t require:
- Inventory
- Selling to friends and family
- Selling to strangers
- Recruiting people
- Dealing with questionable products that weigh on your conscience
An income stream that brings in consistent revenues every single month (from a couple thousand dollars to well over $10,000)?
An income stream you could actually build in your spare time, and grow as large or as small as you want to, without having to spend hours a day chasing, selling, or managing anything?
If that sounds like something you’d be interested in, check out Digital Real Estate.
Follow me on Social media below:
Subscribe To My YouTube Channel Here.
See you at the top,
-Jesse Singh
P.S. If you are tired of failing ANY business, click here and check this out to take your game to the next level.