Pavel Krymov Arrested For Atlantic Global Asset Management And Questra World Scam
The actual person behind the Atlantic Global Asset Management and Questra World scam has been difficult to pin down. Now Pavel Krymov has been arrested for being the creator of this scam. Since the beginning Questra World has been trying to hide the founder and location of this scam.
Questra Holdings is registered in the British Virgin Islands. The equity investment fund Atlantic Global Asset Management (A.G.A.M.) is registered in the Republic of Cape Verde, which is located in the central part of the Atlantic Ocean, west of Senegal. This scam uses offshore companies and an offshore bank to hide the actual location and identity of the owners.
A native of Ukraine, Pavel scammed people out of their money not only in his country, but also in Belarus and Kazakhstan. In Kazakhstan his activities attracted the attention of law enforcement. As a result, at the request of the Ministry of Internal Affairs of Kazakhstan, Krymov was detained at Moscow’s Sheremetyevo Airport. – Source lenta.ru
It is estimated that Pavel has taken $30 million from his victims.
He is the reported creator of Questra World, Atlantic Global Asset Management, Forex Trend, and Panteon Finance.
In 2009, Krymov created the financial pyramid Forex Trend. In this scam, Krymov acted independently at the events of the organization and was present at all the landmark events of the company. As you can guess from the name, the Forex Trend pyramid was supposedly trading in the Forex market. In fact, the company Krymov simply collected the money of its victims.
In 2015, Krymov managed to escape punishment for organizing Forex Trend. Scam victims for the first time in many years have the hope that Pavel Krymov will finally get punishment for his many scams.
Atlantic Global Asset Management (A.G.A.M.) was promoted through a MLM recruiting scam owned by Questra Holdings called Questra World.
For Atlantic Global Asset Management they claimed that their revenues came from four areas:
- Placement of foreign securities.
- Refinancing of companies that lost their capital for any reasons. Analysts of equity investment fund A.G.A.M. searching for those companies at the market, which are well-functioning, but do not have the required amount of money for their further functioning and growth. We analyze the economic situation and are looking for new sources of funding. Refinancing is the main form of income for investment banks and funds all around the world.
- Financial factoring. Having a trading contract with a real physical product and taking a pledge of shipping documents A.G.A.M. fund guarantees, speaking a third party, the commission payments. In this case the fund is a financial intermediary, whch earnes a good profit without risk, because without documents, that the fund pledged, goods are not released. The money will not go, but remain on the fund accounts, and for ensuring we get paid good money.
- Organization and carrying out of IPO. Equity investment fund Atlantic Global Asset Management buys shares of the company, before they get to the IPO, as well as investing in the purchase of promising companies, followed by the creation and output of their own shares in the IPO. The company earns on the difference between the stock price, which is paid before the IPO, and the price, which is set at the time of the start of trading.
In reality it was a Ponzi scheme.
A Ponzi scheme is an investment fraud that involves the payment of returns to existing investors from funds contributed by new investors. Ponzi scheme organizers often solicit new investors by promising to invest funds in opportunities claimed to generate high returns with little or no risk. In many Ponzi schemes, the fraudsters focus on attracting new money to make promised payments to earlier-stage investors to create the false appearance that investors are profiting from a legitimate business. Ponzi schemes like to use uncommon or hidden investments to keep you in the dark about what is actually happening.
Here is my original opinion about the Atlantic Global Asset Management scam:
In my opinion, the Atlantic Global Asset Management scam is a Ponzi scheme. They are using newer investor money to pay old investors. They hide the owners of the scam by using offshore companies. This keeps you from finding out about the long history of scams like MMM that have been run by the owners of this Ponzi scheme. The regular high returns provided by this investment can only be provided by a Ponzi scheme. The ridiculously high management fees at low investment amounts are used to drive people to invest large amounts of money in this scam. No prospectus is provided for this investment. A MLM recruiting scam is used to increase the amount of victims for this Ponzi scheme. There have been many warnings by regulators about this scam. I would avoid the Atlantic Global Asset Management scam.