The Ponzi scam involving Quwiex has failed.
Quwiex informed investors that withdrawals would restart on April 18th after being disabled more than a week prior.
Quwiex deactivated its website instead, and it has now been down for two days.
Quwiex was a straightforward Ponzi scam run by a Boris CEO, with an actor posing as “George Bennett.”
Quwiex solicited money while claiming to be based in New Zealand and offering a 5% daily ROI.
The Financial Markets Authority of New Zealand issued a Quwiex securities fraud notice on April 8.
After a few days, Quwiex turned off withdrawals. It was announced to affiliates that withdrawals will start again on April 18.
On April 13, George Bennet made a promise to revive “Quwiex Global” on April 21 in a YouTube video.
I might have waited another day, but a missed Zoom call on April 20th is what made me call Quwiex’s collapse.
Bennet was slated to participate in a Zoom webinar on April 20th, according to the aforementioned post, which is still accessible on Quwiex’s official Twitter page.
I believe that the webinars never took place. The website for Quwiex is still offline, which makes the Ponzi scheme’s downfall evident.
In the future, if Quwiex reboots on April 21 or at a later time, it will be a relaunch of a Ponzi scheme that has already failed.
Therefore, pending withdrawals will either stay blocked or, at best, be severely constrained in the absence of additional funds.
However, that is not normally how the eastern European Ponzi factories run by Boris CEO operate. A fresh scam is produced once an old one is abandoned by hiring new actors.
For the time being, consider Quwiex investment money gone. There were never any unpaid balances in the Quwiex back office.