QZ Asset Management: Ponzi Scheme Exploiting Innocents
QZ Asset Management is a major MLM scam. They also go by the name “QZ Invest” and are based in Guangzhou, China. We would like to warn the readers of the website to avoid any interaction with this scammer as they are extremely dangerous.
Blake Yeung is the front guy for this scam. He does not have any verifiable or traceable internet presence, however, it might be due to the differences in the languages.
Even though QZ Asset Management does not yet have an official YT handle, they have been aggressively marketing their ad videos throughout the internet.
Many of its victims are unaware of the fact that QZ Asset Management was rebranded in 2021. Before which it was known as Qianze Asset Management.
Other key names involved in the QZ Asset Scam are Roger Sim, Julian D. Meyers, Panjal Chandra, and Andrei Petrov.
Currently, they use qzinvest.com as their domain. MLM scams like this one often change the domain name with which they operate so please be wary of that.
Through Who.is we can see that this domain was registered in 2016 although when we checked out the history of the domain on the Web Archive we found that it has only been active since 2021.
Despite this, the company claims it has been around for more than a decade which is simply not true.
They offer no retailable services or products. There is only their QZ affiliate membership which is promoted by their marketers and affiliates.
How QZ Asset Management Manages Compensation
In QZ Basic, they claim you can invest $100 to $900 and get a return of 1.75% a week, while in QZ Elite you can invest $1000 or more to receive 3.5% a week. Their ROI cap is at 400%, any money after that you’ll need to reinvest to continue the cash flow.
Seems too good to be true?
Because it is.
They also penalize affiliates who withdraw their money before 91 days. If withdrawals are made within the first 30 days, then a 50% fee is charged. For 31-60 days a 25% fee and 61 – 90 days a 10% fee.
Affiliate Ranks Within QZ Asset Management
There are a total of 5 affiliate ranks within this MLM’s compensation plan. As you might’ve guessed it is a pyramid scheme and the rank system follows it as well.
Rank 1 – $3000 (residual commissions)
Vice President – $6000 (residual commissions)
Senior Vice President – $20,000 (residual commissions)
Executive Vice President – $50,000 (residual commissions)
Director – $150,000 (residual commissions)
Along with this they also pay a rank achievement bonus:
Rank 1 – $500 investment position
Vice President – Samsung Galaxy S22
Senior Vice President – Rolex DateJust
Executive Vice President – Rolex Submariner
Director – Mercedes-Benz GLC
Nefarious Activities Of QZ Asset Management
As discussed earlier, QZ Asset Management was called Qianze Asset Management. They launched in South Korea in 2019. But soon collapsed in 2021, after which it rebranded itself as QZ Asset Management.
Recently since September 2022, they’ve started marketing themselves again and are targeting South America and Africa. Both of these regions are often targeted by MLM scammers due to their lack of wealth and higher education.
QZ Asset Management claims to have been around since 2012, but if that’s the case then their 3.5% return per week should make them billionaires by now.
They are also unregulated. Even though they claim to be registered with the AMAC (Asset Management Association of China). AMAC is a self-regulatory association, which makes this registration utterly useless as it is not a regulatory entity like SEC.
It is illegal to operate an MLM company in China without registration which explains why QZ Asset Management has not registered there. They are no proof of CSRC registration.
QZ Asset Management is committing securities fraud. MLM companies like this often lend themselves to running a Ponzi scheme.
The numbers don’t add up and just like other Ponzi schemes, QZ Asset Management is bound to fail.
Dirty Secrets Of QZ Asset Management: Misleading Paid PR & Online Manipulation
If you Google “QZ Asset Management” right now, you will see results similar to this:
At first glance you might not see anything wrong with them. But there is a lot of Google manipulation going on here. The highlighted Google results in the screenshot below are biased news posts where someone from QZ Asset Management’s marketing team paid a PR service for getting featured on the websites.
No one bats an eye at Yahoo.com and Bloomberg.com, as we assume these to be trusted sources of information. However, for a fee, almost anyone can get an article posted on these websites through online PR services. Usually, these services are used by small business owners and influencers. But this does not stop scammers from abusing this as well.
QZ Asset Management is using these biased PR articles as a way to provide social proof to their victims and give them a false sense of security. More often than not, the victims don’t know the difference between press releases and news coverage. And this is exploited by scammers.
They even brag about their “Media Coverage” in their presentations: