About:This was a short-lived pyramid scheme organized by Ronald De Leon. It was active from the end of 2020 and it collapsed in mid-2021, having had the biggest impact on South-East Asian countries. Sadly, to this day thousands of people are still trying to recover their lost money.
HistoryOriginally the fraudulent company worked under the name Premium Business, also known as Premium Biz PH on Facebook. It was based in the Philippines and it quickly came under the radar of the Security and Exchange Commission (SEC Philippines). Finally, on the 18th of May, the government officials issued a public warning advising people to stop investing in the scam. What’s more, they warned that the act of enrolling people into Premium Business was punishable by law. They also provided names of fraudulent associates who should be avoided. The list included Ronald De Leon and the following: Jerry D. Manabat, Gladys Violago, Kentclay Morales, Daisy Lazy Aureada, Jovan S. Derecho, Thea Pauline Eve R. Salva, Catherine T. Hape, Sunshine Grace F. Mission. Since being under fire, the company quickly changed the name of its Facebook Group to PBX Trading, and the new site surfaced.
Site and DomainAs of May 2022, the Pbx Trading site and pbxtrading.ltd domain are officially down, and there are no official pages or affiliates to back it. While it was up, the site claimed the company was stationed in Qatar and it presented copy-pasted text from an official agency which had nothing to do with PBX trading. There was very little information on what the company did and who the founder was. They did provide a chance to register with various entry fee packages. The only contact information available was two emails: [email protected] and [email protected].
How They Lured InvestorsAlong with the logo, the company’s name suggested that it dabbled in trading. Nevertheless, it had nothing to do with it. Surprisingly enough, the firm advertised the chance to earn monthly residual income after a one-time investment. These opportunities included five packages:
- Associate – $20 investment yields $8 per month
- Supervisor – $50 investment yields $20 per month
- Manager – $100 investment yields $40 per month
- Director – $200 investment yields $80 per month
- Executive – $1000 investment yields $400 per month