The Main Department for Combating Cybercrime received numerous complaints from citizens regarding the theft of their funds.
The organizers of the scheme turned out to be Malaysian citizens Li Kai Fatt and Ravi Sivadas, as well as Azerbaijanis Arzu Musayeva and Sabuhi Mammadov. They attracted participants through online groups, selling them virtual boxes with promises of daily income. In reality, the accrued funds had no economic basis and could not be cashed out.
Three of the suspects have been detained, while Li Kai Fatt has been placed on the international wanted list. The damage exceeds 2.5 million manats. A criminal case has been initiated.
The Ponzi scheme is a fraudulent investment model where early investors are paid not from actual profits but from funds contributed by new investors. This model was developed in 1919 by Italian immigrant Charles Ponzi, who promised clients 50% profit in just 45 days through speculation on international postal reply coupons.