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AutoTrade Golder founder and CEO Dinar Wahyu Saptian Dyfrig, higher referred to as Wahyu Kenzo, has been arrested in Indonesia.
Indonesian authorities allege AutoTrade Gold was a 9 trillion INR Ponzi scheme (~$582 million USD).
An investigation into Kenzo was opened following complaints from AutoTrade Gold traders.
That preliminary investigation revealed 141 native victims of the scheme, who collectively misplaced 15 billion IDR (~$971,000 USD).
Because the investigation progressed authorities uncovered round 25,000 victims and over half a billion in losses.
As reviewed by BehindMLM in December 2021, AutoTrade Gold was a convoluted Ponzi scheme additionally involving Pansaka and Panthera Commerce Applied sciences.
- AutoTrade Gold was the “automated buying and selling” MLM facet of the enterprise
- Pansaka was an Indonesian advertising and marketing arm of AutoTrade Gold
- Panthera Commerce offered investor assist and doubled as an inhouse dealer
Kenzo ran all three firms by way of PT. Pansaky Berdikari Bersama and LegoMarket LLC, shell firms integrated in Indonesia and Saint Vincent and the Grenadines respectively.
As reported by a BehindMLM reader, AutoTrade Gold collapsed on or round February 2nd, 2022.
I can affirm that sooner or later Kenzo fled Indonesia for Dubai. I can place him there as late as December 2021.
I don’t know when but it surely appears Kenzo finally returned to Indonesia. This was doubtless solely lately or within the second half of 2022.
If I needed to guess, Kenzo felt sufficient time had handed and he didn’t have to disguise out in Dubai anymore.
As a part of the police investigation into AutoTrade Gold, Kenzo was summoned twice to seem as a suspect witness.
Kenzo did not attend the summons, prompting police to subject an arrest warrant.
Kenzo was arrested on Saturday, March 4th in Surabaya, Java. He has been charged with a number of legal counts pertaining to native equivalents of securities fraud, wire fraud and cash laundering.
The AutoTrade Gold legal case is being investigated and prosecuted by authorities in Malang Metropolis, East Java.
Following his arrest, Kenzo was offered earlier than a court docket on Sunday, March fifth. He stays in custody because the case continues.
If convicted, Kenzo faces a most 46 yr jail sentence and as much as 20 billion IDR in fines (~$1.2 million USD).
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