Alex Richter, who is played by a Russian named Alexey Mikhailovich Zhirovkin, is in charge of Antares Trade.

Antares Trade and the company it spun off, Alcore Trade, both went out of business for good in May.

Even though Zhirovkin’s victims may have lost hundreds of millions of dollars, authorities in the Dominican Republic continue to hide him.

We have said in the past that Zhirovkin is a Russian wanted fugitive.

Zhirovkin and his wife left Russia for the Dominican Republic in 2012 to get away from theft charges. Since then, he’s been living there.

It is not clear how Zhirovkin, who was wanted by the police, got a permanent home in the Dominican Republic.

In 2020, Antares Trade showed up. It was a simple MLM crypto Ponzi scheme based on AND Ponzi points.

Antares Trade’s first version fell apart in August 2021, which led Zhirovkin to relaunch the scam as Alcor Trade.

The same Ponzi scheme, but this time with an ANTD token and a 200,000% return on investment.

Up until February 2022, Alcor Trade was going on. After it fell apart, Richter started over as “Antares Trade 2.0.”

In May, when Antares Trade 2.0 started to fall apart, Zhirovkin tried to restart Alcor Trade, but it didn’t work.

Unluckily for Zhirovkin, the law of diminishing returns had already taken effect. BehindMLM said that Antares Trade 2.0 and Alcor Trade reboot would go out of business in May 2022.

Realizing that he had gotten as much as he could out of investors, Zhirovkin switched his focus to making it take longer for investors to report him to the authorities.

To do this, he spent the rest of May and June giving fake updates on YouTube to fool Antares and Alcor customers into thinking he was still in charge.

By this time, Zhirovkin was already working as a lawyer, and he was living in Mexico.

After Antares Trade 2.0 and Alcor Trade went down in May 2022, Richter started sending out information about a marketing event in Dubai.

It was said that Mike Tyson and Jordan Belfort would be speaking. People thought that Zhirovkin’s last scam would be the event in Dubai.

The first date for the Dubai event was June 1. As June 1 got closer, Zhirovkin changed the date to July 15.

In short, the event didn’t happen, and Zhirovkin didn’t leave the Dominican Republic.

Zhirovkin’s last update as Alex Richter was on June 24:

Richter told investors in the video, “There is no reason to worry at all.”

I’m fine. Antares is making a lot of progress, and everything is going well.

BehindMLM has learned that a group of victims in the Dominican Republic approached Zhirovkin sometime in June or July.

Richter’s meeting with these people didn’t go well, so he sued them for “assault and threats.”

On September 26, a court in Higuey will hold a hearing about the case.

Zhirovkin and his wife live in Cocotal, which is about 40 minutes away, in a private home with a gate.

Even though Zhirovkin is openly running a Ponzi scheme that is thought to be worth hundreds of millions of dollars, the Dominican Republic government hasn’t done anything about it yet.

He has a permit to live in the Dominican Republic and is free to do so.

The government of the Dominican Republic has helped out more than just Zhirovkin.

The notorious CashFX Group Ponzi scheme is run by Huascar Lopez, who was born in the Dominican Republic.

CashFX Group’s investor losses are thought to be in the billions, which is a lot more than Antares Trade’s.

Authorities in the Dominican Republic have ignored CashFX Group’s financial fraud for years.

The Superintendent of Banks did not issue a CashFX Group fraud warning until November 20, 2021, which was the same month that CashFX Group went out of business.

Lopez left the Dominican Republic soon after that.

At first, it was thought that Lopez had gone on vacation in Europe. Since a few months ago, no one has seen or heard from him.

The Superintendency of the Securities Market, or SIMV, is in charge of the securities market in the Dominican Republic.

Gabriel Castro Gonzales has been in charge of SIMV since 2012. (right)

We keep getting requests for help from victims of the Antares Trade and the Alcor Trade, but we can’t help them.

We do our best to report and track MLM fraud, but in the end, we’re not a government agency.

If you lost money in Antares Trade, Alcore Trade, or CashFX Group and want to know why the Dominican Republic hasn’t done anything and continues to ignore MLM-related securities fraud, you can find contact information in the website’s footer.

Jose Ernesto Baez, who is in charge of SIMV’s Department of Protection and Education for Investors, is also a very important person.

Baez keeps a Twitter account for SIMV that is used fairly often.

At the moment, SimilarWeb tracks the growth of visits to the websites of Antares Trade and Alcore Trade from France, which make up 49% and 52% of all website traffic, respectively.

This means that even though both Ponzi schemes have failed and withdrawals are no longer possible, new people are still being brought in.

Leave a comment

Your email address will not be published. Required fields are marked *