Here is the recent update regarding this online investment platform. QZ Asset Management is collapsed and investors are unable to withdraw their funds.
QZ Asset Management Update
QZ Asset Management Ponzi scheme collapses, withdrawals disabled under the ruse of an “SEC audit” exit scam.
CEO Blake Yeung Pu Lei informs investors of delayed withdrawals due to ongoing SEC financial auditing which will take 6-8 weeks.
QZ Asset Management has been doing securities fraud since its launch in late 2022.
In the meantime, QZ Asset Management received fraud warnings from the USA, Indonesian, and South African authorities.
QZ Asset Management targets countries like South Africa, Nigeria, the Philippines, Namibia, and Botswana. It was offering guaranteed 400% ROI which is not possible in the real world but still, it manages to fool people around the world.
Preparations for exit scams began in February through a misinformation-filled S-1 Registration Statement filed with the SEC.
No financial filings have been made and there is no third-party financial auditor. Scammers are circulating a request to complete a W-8BEN tax form.
How to Withdraw Investment?
The public website of QZ Asset Management, Qzinvest.com is active but people are unable to withdraw their funds.
Disabling withdrawal is first priority of every such scam and the same goes with QZ as well.
Till now, there is no possible way to withdraw funds from QZ Asset Management.
Still, people can register complaints with the authority of their jurisdictions. As QZ was not legally operating, governments really rarely can help investors.