New financial pyramid emerges in Uzbekistan, using official documents to gain public trust

Masked products and promises of daily returns

The operators have launched a dedicated online platform detailing various investment tiers, deposit methods, and daily withdrawal options. To obscure the financial fraud, the investment packages are masked as purchases of beaded jewelry.

For instance, the Azure glow bracelet package is priced at UZS 200,000 and remains active for 30 days. Buyers are promised a daily return of UZS 10,000, bringing the total monthly payout to UZS 300,000. Higher-tier options follow the same logic; the Vintage amethyst bracelet costs UZS 600,000 and promises a return of UZS 900,000 over a 30-day period. As the initial investment scales up, the promised profit margins increase proportionally.

To purchase a package, users must register on the platform and open a personal account. Funds are deposited via peer-to-peer (P2P) transfers. The platform directs these payments to a specific bank card issued under the name of Lazokat Nasriddinova. The reliance on P2P transfers raises immediate red flags for an organization claiming to operate a global retail network and constructing domestic factories.

Direct links to physical addresses

To verify whether the online pyramid is connected to the registered entity, reporters visited Shota Rustaveli Street 104, the address listed for SEVEN JADE MANUFACTURING LLC in the state registry.

The location matches the address provided by the platform’s customer service agent, who shared the coordinates while reassuring potential investors that the business is fully legitimate and safe.

Preventing a repeat of past scams

The strategy of establishing a local LLC to defraud the public is not unprecedented in Uzbekistan. A notable parallel is the Golden cash store LLC case, where over 2,000 Uzbek citizens were defrauded of approximately $6 million within a 10-month period. That scheme was registered under the name of a Ukrainian citizen, Maksym Muntyan, and operated under the guise of retail watch and jewelry shops.

The SEVEN JADE model closely mirrors the Golden cash blueprint by directly soliciting public funds into a structured pyramid scheme. To prevent widespread financial damage, prompt intervention from relevant authorities, including cybersecurity units, is required to investigate the operations and identify the individuals behind the network.

Under Article 188-1 of the Criminal Code of Uzbekistan, engaging in illegal activities related to the accumulation of funds or other property carries strict criminal liability, including penalties of up to 10 years of imprisonment. Furthermore, the Criminal Procedure Code dictates that initiating a criminal case under this article does not require a formal complaint from a victim, allowing law enforcement agencies to take immediate preventive action.