Fraud

Fraudulent GCG Asia Ponzi Scheme Review

Licenses are expired, the co-founder has made multiple false claims for being supported by governments. Read the full review here.
3.1/10 (Expert Score)
Product is rated as #5 in category Brokers

Cryptocurrency and Forex are two of the hot topics when it comes to investing nowadays. But before investing a large sum of money, you should be certain that your investment will at least have a chance to return profits. This may not be the case with Guardian Capital AG. There are numerous red flags around the organization, not to mention that the co-founder of GCG Asia was arrested back in 2019. However, let’s take the facts one by one.

The company GCG Asia doesn’t have any official owner. Their website doesn’t provide any accurate information about the business and its operation. You get to know about the whole investment through a random address in Switzerland, where you’ll probably find anything besides their business.

If you dive into researching, you can find the name of the GCG Asia co-founder – Darren Yaw. But Darren Yaw is from Malaysia, and the only links to Switzerland appear to be shell incorporations, which is yet another red flag.

GCG Asia Services

GCG Asia Services

On the Guardian Capital Asia website, you’ll find just a piece of brief information about their available services:

GCG Asia Services

GCG Asia claims to operate your assets and manage your funds properly to provide you wealth in the long term. Theoretically, you should be able to retire early or keep your wealth in the family even if the worst happens. But how do your funds actually increase?

Your returns are supposed to be earnings from forex trading, cryptocurrencies, and commodity trading. While the funds in your profile may increase, you’ll probably not be able to withdraw them. There have been numerous reports for withdrawals put on hold for months in the past years.

Theoretical Ways to Earn with GCG Asia

Theoretical Ways to Earn with GCG Asia

As we’ve already mentioned, your funds are supposed to increase while the company invests them in Forex, cryptocurrencies, and other stuff such as precious metals. But let’s take a look at the additional compensation plans that lure new investors to Guardian Capital AG.

Earn Through Affiliates

Earn Through Affiliates

If you can recruit new investors through the affiliate program, you will gain a commission when they invest. The company has 5 affiliate ranks, depending on the invested sum and your recruited affiliates.

The first rank is investor, and anyone who signs up and makes the initial investment is an investor. In comparison, the last rank is DIB, which requires you to invest $30,000 personally and recruit affiliates with the previous rank. Of course, there are additional requirements, but is it worth it to invest a fortune in a company that’s not only surrounded by red flags but is one itself.

Commissions for Investors

As the investments are tracked in lots, you receive a commission for each investment lot, based on your rank. Your earnings range from $5 to $20 per lot, depending on your rank.

Residual Commissions

The residual commission is directly linked to the investors’ commission. When a new investment lot is created, the affiliate program pays you based on your current affiliate rank when a new investment lot is created. Therefore, you get from $5 to $20 per new investment lot.

Trading Commissions

Every affiliate can invite their friends or colleagues and have them as their own affiliates. It creates a pyramid structure that brings earnings for the following 10 levels. You are above the first-level ones, as you’ve affiliated them. After those affiliates invest and make earnings, you are supposed to receive a percentage.

Is GCG Asia Operating Legally?

Is GCG Asia Operating Legally?

GCG Asia claims to operate with a license despite the red flags. You won’t find any licensing information on their website. To our surprise, they still own a license and claim to operate under its jurisdiction. However, it’s expired and can’t be trusted with your savings. Guardian Capital AG is already listed as a scam broker on multiple websites.

Despite being officially located in Switzerland, the company is listed as Malaysian financial services. Their business model and the hundreds of reviews of held withdrawals should be enough for you to think twice before making the minimum investment of $1500 in the GCG Asia ponzi scheme.

If you’re not familiar with the term “ponzi scheme,” it basically means the principle of value multiplication. If you happen to make a successful withdrawal, it will be using the money of the next investor to fund your bank account.

The Arrest of the GCG Asia Co-Founder

The Arrest of the GCG Asia Co-Founder

In 2019, GCG Asia got into a big mess by making false claims. The co-founder Darren Yaw claimed that the Indonesian government supported and encouraged the Guardian Capital AG’s business. However, it turns out that’s a lie, and the Indonesian authorities later declared the company as an illegal business. It turns out that they were never authorized to operate in Indonesia.

A month later, Darren Yaw again made claims to be supported by a government. This time it was the Cambodian government. According to his words, the Prime Minister of the Kingdom of Cambodia personally supported their cause. But all claims were denied publicly, and the Prime Minister requested the authorities to investigate the Guardian Capital AG. Afterward, the Cambodian authorities arrested Darren Yaw and his wife. Following a thorough investigation, his wife had been released, and he was sentenced to one year in prison and served 5 months.

After the sentence, Darren Yaw has tried to wipe his name from GCG Asia, but without a big success. The company still operates until this day in Malaysia. But despite the charges and all red flags, the Malaysian government hasn’t taken action against GCG Asia.

3.1Expert Score
GCG Asia is a scam

In the end, would you invest in GCG Asia? Licenses are expired, the co-founder has made multiple false claims for being supported by governments, and their business model is a red flag. They’re offering an option for investment, but who knows when your withdrawal will go through?
When will the Malaysian government take action and force Guardian Capital AG to operate legally or shut down?
But our main questions are pointed towards the co-founder of GCG Asia – Darren Yaw. When are we going to see a little bit of transparency? Does the company actually trade with investors’ money?
There is currently no proof of such action. Moreover, the company isn’t properly regulated and could actually be paying the investors back with other investors’ money.

Customer Service Score
3.5
Trust Score
2.5
Honesty Score
3
Reputation Score
3.5
POSITIVES
  • User interface
NEGATIVES
  • Questionable Marketing Tactics
  • Unreliable
  • Horrible Market Reputation

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