It was pretty obvious from the onset that IGOFX was just another Malaysian Forex Ponzi scam.

Passive monthly ROIs of 10% to 30% were touted, from persons unknown presumed to be operating out of Malaysia.

Now following confirmation that IGOFX has collapsed, it has been revealed that the couple running the Ponzi scheme were in fact living in China.

Recent news reports however claim in the wake of IGOFX’s collapse, the couple have since fled to Malaysia.

Reports from IGOFX affiliates suggest IGOFX was on the verge of collapse by early June.

BehindMLM reviewed IGOFX in March 2017 and concluded it was a Ponzi scheme.

Over the five months before IGOFX collapsed, we received the usual blanket denials from IGOFX investors:

Until you register and test your own self please do not publish or blog something you don’t have info or by your own assumption.

Igofx is more than 4 years old and it is a subsidiary of IKOFX which already exist in the market 8 years back when I was still a teenager.

If they really wanted to scam, they should have done it many years ago as they have billions of funds deposited from worldwide investors from time to time. Hope this help!

Depositor, yet, the payout still ontime and no delay. If PONZI, where they could pay out so prompt! Please use your mind to think before you pen down anything here.

Friend, FYI, I joined IGOfx 3 n a half years ago n therefore understand exactly what Biz Model they hv adopte.

Personally, I think U r Simeone who hv got burnt neatly to death before, n envy us making loads or U r a dead competitor of IGOfx trying to put up such Blog, to scam us from making more money.

And on and on it goes.

IGOFX was operated out of Shenzen, China, with an investigation by authorities revealing IGOFX scammed over 400,000 Chinese investors out of ¥30 billion Chinese yuan ($4.4 billion USD).

The couple behind the scheme has been identified as a Zhang Xuejiao (right), a 26 year old Chinese national, and her Malaysian husband (unidentified).

Zhang stopped communicating with IGOFX investors in early June.

Amid reports that over a hundred IGOFX investors filed complaints at the Shenzhen police station on June 30th, it is believed Zhang and her husband are currently hiding out in Malaysia.

On Wednesday, the China Embassy in Malaysia issued a statement reminding investors in Malaysia and China to choose proper, legal and mature investment channels.

“Chinese citizens should take sound measures to protect their own interest to maintain the healthy development of the regular investment relationship between the two countries,” it said.

It also advised Chinese nationals to retain all evidence and resolve the issue through legal channels should they discover that they have been deceived.

There has been at least one report of investor suicide following IGOFX’s collapse.

When the Malaysia’s The Star contacted the Commercial Crime Investigation Department for comment, they were told ‘Malaysian police had yet to receive any information about IGOFX‘.

At the time of publication Alexa estimate Malaysia is the largest source of traffic to the IGOFX website (60%).

The lack of response to IGOFX by Malaysian authorities coincides with concerns about handling of the MBI International Ponzi investigation.

It’s not likely a coincidence Zhang and her husband fled China for Malaysia once the gig was up.

Meanwhile if the figures provided by Shenzhen authorities are accurate, IGOFX has taken the crown as the largest MLM Ponzi scheme ever busted.

At $4.4 billion USD (and that’s only a preliminary estimate), IGOFX easily trumps TelexFree’s $3.3 billion in losses.

Barring a sudden decision by Malaysian authorities to actually regulate, personally I think Zhang and her husband have likely squirreled away a ton of investor funds before fleeing.

They’re now counting on Malaysian authorities to do nothing, before quietly escaping and spending the rest of their lives living off what they stole.

And the sad thing is despite this all happening out in the open, with Malaysia being Malaysia, they’ll probably get away with it too.