Authorities in Russia and Kazakhstan are continuing to investigate the fallout of the collapsed Five Winds and Atlantic Global Asset Management Ponzi schemes.
Russian authorities have arrested several local promoters of Atlantic Global Asset Management (AGAM).
AGAM founder
Pavel Krymov was arrested in Russia
earlier this year and
extradited to Kazakhstan
shortly after.
The recently arrested AGAM promoters have been charged with fraud, with investigators estimating they are responsible for around $27,000 USD in losses.
If convicted they face up to ten years in prison.
Separately in Kazakhstan, authorities are hunting down local AGAM and Five Winds Asset Management promoters.
A pre-trial investigation has identified around twenty victims who together lost over $57,000.
The suspects have been charged with fraud with authorities looking to make arrests.
Fronted by Spanish puppet management, Questra World and AGAM surfaced in 2016.
Our
Questra World review
concluded it was a Russian Ponzi scheme using African banking channels.
Having mostly spread across Europe over the next year, in late 2017
Questra World collapsed
.
In its wake
Five Winds
was launched as a reload Ponzi, with AGAM eventually also spinning off with its own short-lived Ponzi scam.
🤖 Quick Answer
What are the current investigations regarding Five Winds and AGAM?Authorities in Russia and Kazakhstan are investigating the collapsed Five Winds and Atlantic Global Asset Management Ponzi schemes. AGAM founder Pavel Krymov was arrested in Russia and extradited to Kazakhstan. Several local promoters face fraud charges, with estimated losses exceeding $84,000 USD across both countries.
What charges do arrested AGAM promoters face?
Arrested AGAM promoters have been charged with fraud. Russian authorities estimate they are responsible for approximately $27,000 USD in losses. If convicted, they face up to ten years imprisonment. Kazakhstan's pre-trial investigation identified around twenty victims with losses exceeding $57,000.
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