Leading Askonim are warning residents to use extra caution when investing their money, as a European-based investment company makes its way around Lakewood and other local communities.
The company, Questra, is looking to pull investors, and promising huge – and apparently-very unrealistic returns – on their investments.
One of Lakewood’s most prominent askanim and businessman says he was approached by a Questra representative who pulled a wad of cash from his pocket, saying he already made back his investment, and is earning 5% per week.
“I fear this will spread through the frum community and there will be terrible korbanos,” the man told TLS.
Another very concerned askan who analyzed the Questra presentations in depth had the following to say about the company.
“There is nothing convincing about their presentation except greed. They claim to buy debt, real estate, bankruptcies, companies, notes, IPO, Start ups, divestitures, stocks, certificates, funds, ETF, futures, warrants, options, bonds, capital investments, power energy, transportation, social systems, commodities and more. Plus free loans on homes and cars. They even offer that you can become a partner in the scheme too.
At their promised returns on a monthly investment, you will make 390% of your money in a year. But that would be really stupid, because they promise that if you invest with their weekly model, you will make 1,264% on your money in a year. Why do the month version when the week pays better? But then I listened on to their slick presentation. If a person invests in the platinum model, they offer returns of 3,373% on your money in a year.”
In conclusion, the concerned askan said, “Never choose an investment strategy without the advice of an unbiased 3rd party, that you don’t understand, that promise unusual profits, and never make an investment before speaking to professionals.”
“Questra is promoting themselves online with slick presentations and websites. Don’t be lulled in.”
Ponzi scheme. If it sounds too good to be true, it usually is.
Noone learned their lesson yet from all other pyramids and mlm’s?
I invested with them and it works! I became a billionaire overnight! No , a trillionaire! If you want more details please mail me a check of 180 dollars and I will give you the secret!
I’ll invest one dollar. Multiply that by 3,000%, that’s pretty good, why invest more? $1= low risk
Google it with the following “Questra Scheme” without the quoted, and a lot of negative news coverage comes up.
It is international Ponzi Scheme. Stay away!
This company claims it generates these crazy ROI’s through Atlantic Global Asset Management…
Now if they could really generate 300% to 500% ROI in 7 to 8 months through that company, why would they need huge investments from affiliates?
Also too many fishy things going on like the YouTube channel being in Russian even though it’s a Spanish company…
Also with a 365 day maturity of investments, what probably will happen is this company will go under and the owners will run with the money.
I would personally never invest in a company that isn’t completely transparent.
Thank you TLS for publishing this and helping prevent people from falling into this terrible trap.