Eric Teng, based in Singapore, is linked to OwnProfits, a scheme guaranteeing 150% returns on small investments. He previously operated similar ventures which failed after regulatory scrutiny.
OwnProfits sells "shares" promising exceptional payouts. The company keeps its ownership details private through hidden domain registration. Social media affiliates name Eric Teng as the owner. His presence on the OwnProfits Facebook page supports this claim. Teng's listed Singapore location matches an address OwnProfits makes public.
Teng was Chief Technology Officer at AdSpacePro, launched in July 2013. AdSpacePro used the same model: investors paid $5 for promises of 150% returns. Operators called the payouts "Ponzi points," funded solely by new investor money, just like OwnProfits.
AdSpacePro collapsed quickly. On August 19th, weeks after its launch, CEO Thomas Winegard sent affiliates a "compliance update." Winegard claimed he had only recently learned that Ponzi schemes were illegal in the United States. This message revealed significant oversight.
"Due to new laws in the USA that have come into effect, their are certain aspects of AdSpacePro that will no longer make us fully compliant," Winegard wrote. He blamed "government rules" for the shutdown. But the scheme's structure was textbook fraud from its start.
Winegard told members their money was delayed, not lost. He stated membership fees would "refresh" on September 1st. Purchased shares would credit back. He promised affiliates he was "not going anywhere" and intended to relaunch a "fully compliant business opportunity."
Winegard's language was important. He presented regulatory pressure as a bureaucratic problem, not proof of criminal intent. He acted as a committed, transparent businessman adapting to new rules, not someone caught running an illegal scheme.
This pattern repeats. Operators offer huge returns. They build affiliate networks recruiting friends and family. New money pours in. Regulators then intervene, schemes fall apart, and operators reappear with new names, websites, and promises.
Teng's work with AdSpacePro before OwnProfits suggests he mastered this playbook. OwnProfits functions similarly: it promises returns no real business can maintain. Compensation links to recruitment, not products. The company keeps its leadership secret.
OwnProfits' domain registered in August 2013, the same month AdSpacePro launched. Nobody knows if OwnProfits is a continuation, a rebranding, or just an imitation of AdSpacePro's model. The structure itself is clearly the crime.
Investors attracted by 150% return promises should understand their money funds earlier investors' withdrawals, not business growth. When new money stops, the scheme stops paying. Everyone loses except the operators.