QZ Asset Management has been found to be offering unregistered securities in Indonesia.

As such, the Otoritas Jasa Keuangan has declared QZ Asset Management to be an illegal investment scheme.

As per OJK’s December 27th, 2022 announcement, QZ Asset “offers investment with returns without permission”.

The handling of the illegal investment entities was carried out prior to complaints from victims.

As a result of committing securities fraud, OJK confirmed QZ Asset Management operates illegally.

QZ Asset Management is a Ponzi scheme, built around so-called “BDAI technology”.

QZ Asset Management affiliates invest $100 or more, on the promise of up to 3.5% a week.

While we don’t know exactly who runs QZ Asset Management, they are believed to be Chinese scammers operating out of south-east Asia.

SimilarWeb currently ranks top sources of traffic to QZ Asset Management’s website as South Africa (87%), Cameroon (6%) and Moldova (4%).

 

Update 4th May 2023 – QZ Asset Management has collapsed.

On May 1st Blake Yeung rolled out an “SEC audit” exit-scam.