You need to take care of things before investing your hard earned money in investment schemes. There are many cases that have been shared in the past showing that big companies deceive people by showing that they can earn a lot of money with only small investments. We are not saying that all companies are fraudulent, but some of them are fake. So think twice before investing the money in the scheme and don’t forget to check the details of the company. However, sometimes, even after taking all the precautions, the company manages to make a fool of people.
QZ Asset Management
Now, everyone must be thinking that this is what we are talking about, so the reason is that recently, the SA financial watchdog warned the public not to do business with QZ Asset Management. It is a Chinese multi-level marketing scheme that organized generous investment campaigns in the luxury hotels of Johannesburg and Durban. This warning was reportedly issued after the Financial Sector Conduct Authority (FSCA) claimed that they had received several complaints from clients on the basis that they had been facing some issues with this firm.
According to them, they were unable to withdraw funds after the QZ website went offline. Now this caused panic among the clients of the firm and they began to complain about it. After receiving the complaint, it states that “The FSCA can state that QZ Asset Management is not registered and authorized under any legislation administered by the Prudential Authority and FSCA”. Apart from that, the watchdog added that it had introduced a probe into the plan. The report claims that more than 3,500 people have also signed the online petition condemning and criticizing the group and its directors for “maliciously and willfully defrauding their investors.”
This news is currently trending on the web and people are sharing their experience with the firm. Social media posts show QZ Asset Management held events where the firm’s local promoters spoke about the scheme, which it claimed to be able to make quadruple investments in the week. A Promoter made a videotaped statement stating that “I feel very blessed to be among those leaders who lead with transparency and integrity.” He further added that the leaders are not afraid of any of the negative news circulating on the web.”
Even after seeing negative news, the promoter continued to promote the scheme by stating that “Guys, don’t be afraid and don’t be sidetracked. This platform is quite wonderful and amazing. It has changed the lives of so many people. With what is coming, surely we are going to make many billionaires”.