Alex Richter, portrayed by Russian native Alexey Mikhailovich Zhirovkin, leads Antares Trade.

In May, Antares Trade and its subsidiary Alcore Trade went out of business for good.

Despite probable losses in the hundreds of millions of dollars, Zhirovkin continues to be protected by Dominican Republic officials.

BehindMLM has previously reported that Zhirovkin is a Russian wanted fugitive.

Zhirovkin and his wife fled Russia for the Dominican Republic in 2012 after being wanted for stealing. He has resided there since.

It is unknown how Zhirovkin, a wanted fugitive, acquired permanent residency in the Dominican Republic.

In 2020, Antares Trade surfaced. It was a straightforward MLM crypto Ponzi scheme revolving around AND Ponzi points.

In August 2021, the original version of Antares Trade crashed, prompting Zhirovkin to relaunch the scheme as Alcor Trade.

Identical Ponzi scheme, this time with an AND token and a 2000% ROI.

The duration of Alcor Trade was through February 2022. After its bankruptcy, Richter relaunched as “Antares Trade 2.0”

In May, when Antares Trade 2.0 began to fail, Zhirovkin tried a brief revival of Alcor Trade.

Sadly for Zhirovkin, the law of declining returns had inexorably taken effect. BehindMLM predicted that Antares Trade 2.0 and Alcor Trade reboot will fail in May 2022.

Zhirovkin, realizing he had extracted all he could from investors, shifted his effort to extending investor complaints to authorities.

To this goal, he spent the remainder of May and June deceiving Antares and Alcor victims with fraudulent YouTube updates.

By this time, Zhirovkin had begun representing clients and was headquartered in Mexico.

After the Antares Trade 2.0 and Alcor Trade crash in May 2022, Richter began disseminating information about a marketing event in Dubai.

According to reports, Mike Tyson and Jordan Belfort were scheduled as speakers. The gathering staged in Dubai was rumored to be Zhirovkin’s final parting swindle.

Originally, the Dubai event was slated on June 1. As June 1 approached, Zhirovkin rescheduled for July 15.

In summary, the incident never took place, and Zhirovkin never left the Dominican Republic.

The most recent update issued by Zhirovkin as Alex Richter was on June 24:

In the video, Richter assured investors that there was no need for concern.

I’m fine. Antares is expanding rapidly, and everything is excellent.

According to evidence obtained by BehindMLM, a group of victims in the Dominican Republic approached Zhirovkin in June or July.

This encounter did not go well for Richter, forcing him to file a lawsuit for “violence and threats” against his victims.

The court in Higuey is due to hear the case on September 26.

Zhirovkin and his wife stay in a secluded, gated property in Cocotal some forty minutes away.

Despite Zhirovkin’s blatant operation of a Ponzi scheme estimated to be worth hundreds of millions of dollars, Dominican Republic authorities have taken no action against him too far.

He holds a residence permit in the Dominican Republic and lives openly in the nation.

Zhirovkin is not the only MLM fraudster the authorities of the Dominican Republic have protected.

Dominican Republic citizen Huascar Lopez runs the renowned CashFX Group Ponzi scam.

CashFX Group’s investor losses are estimated to be in the billions, dwarfing those of Antares Trade in scale.

For years, Dominican Republic authorities have ignored CashFX Group’s financial wrongdoing.

The Superintendent of Banks did not submit a CashFX Group fraud alert until November 2021, the same month the company folded.

Following this, Lopez departed the Dominican Republic.

Lopez’s absence was first explained as a European vacation. For months, he has not been seen or heard from.

In the Dominican Republic, securities are governed by the Superintendency of the Securities Market, or SIMV.

Gabriel Castro Gonzales has directed SIMV since 2012. (right).

BehindMLM continues to receive aid requests from victims of the Antares Trade and Alcor Trade, but we are unable to react.

BehindMLM makes every effort to report and track MLM-related fraud, but we are not a regulator.

If you lost money in Antares Trade, Alcore Trade, or CashFX Group, and are curious as to why the Dominican Republic has taken no action and continues to turn a blind eye to MLM-related securities fraud, SIMV’s website provides contact information.

Jose Ernesto Baez, Director of SIMV’s Department of Investor Protection and Education, is another notable figure.

Baez has a moderately active official Twitter account for SIMV.

SimilarWeb now follows the increase of French visitors to the websites of Antares Trade and Alcore Trade (49% and 52% of total website traffic, respectively).

This indicates that, despite the collapse of both Ponzi schemes and the suspension of withdrawals, new victims continue to be recruited.

Aleksey Zhirovkin has taken down the websites for Antares Trades and Alcor Trades on October 17, 2022.

This indicates that Zhirovkin’s escape swindle is complete. Uncertain if he is still in the Dominican Republic.

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