Ponzi scheme operators sanctioned for defrauding 85 investors of $5M
Bezzaz Holdings Group Ltd. · Investment and trading
The case in brief
Visible before detection
Checks that could have surfaced it, on hindsight
Bank credits vs books
Investor funds flowing to earlier investor payments rather than business operations
Can mislead when: AA only sees the accounts the company links, so an undisclosed account stays invisible. Cash-heavy businesses and timing differences create false flags.
End-use tracing of funds
Funds used to pay investors instead of going to claimed business operations
Can mislead when: Kubr sees only the company's own accounts. Once money reaches a third party's bank, Kubr can flag the payee but cannot see the next hop without that party's consent.
Third-party confirmation
Verification of alcohol distribution, supplement sales, or e-cigarette business operations would reveal nothing substantive
Can mislead when: Counterparties can collude or ignore requests. A non-response is logged as a gap, never as a pass.
Regulatory & litigation records
No registered securities dealer licenses; unregistered advisory operations
Can mislead when: Court records lag and name spellings vary. A clean record can mean the problem has not reached court yet.
Where Kubr services would have helped
Valuation context
Offered in India- C8 No registered securities dealer licenses; unregistered advisory operations
Borrower monitor
Offered in India- C1 Investor funds flowing to earlier investor payments rather than business operations
- C6 Funds used to pay investors instead of going to claimed business operations
- C8 No registered securities dealer licenses; unregistered advisory operations
Portfolio monitor
Offered in India- C1 Investor funds flowing to earlier investor payments rather than business operations
- C8 No registered securities dealer licenses; unregistered advisory operations
Proceeds tracer
Offered in India- C1 Investor funds flowing to earlier investor payments rather than business operations
- C6 Funds used to pay investors instead of going to claimed business operations
Mapped from the checks each service runs. A hindsight reading of public records, not a promise that the failure would have been found.
Same pattern
A summary of public documents. It reports what the sources say. It is not Kubr's finding and not a statement of guilt.