B4u Wallet

B4U Global, operating services like B4u Wallet, presented itself as a multi-faceted investment company primarily involved in cryptocurrency trading. Founded by Saif-ur-Rehman Khan Niazi, the company attracted thousands of investors, mainly from Pakistan and Malaysia, by promising unrealistically high monthly returns (7-20%) on their investments. The business model involved collecting funds from new investors to pay returns to earlier ones. In 2021, financial regulators, notably the Securities and Exchange Commission of Pakistan (SECP) and the National Accountability Bureau (NAB), declared its operations illegal, froze its assets, and arrested its leadership, confirming it was operating as a fraudulent Ponzi scheme.