Five Winds & AGAM criminal investigations continue
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).
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.