Background: PGM, a disreputable brokerage claiming to be regulated by ASIC in Australia, operates in Mainland China. They launched a gold quantitative EA, encouraging clients to open accounts and follow the trades. The regional manager for China, Zhao Yongyong, repeatedly assured online and offline that members' funds and trading activities were secure. He enticed clients to deposit funds and trade using the broker's quantitative EA. However, on December 30, 2024, there suddenly appeared large-volume gold orders with identical opening and closing times, resulting in substantial losses for many members who had followed these trades. Concerned about losing the remaining principal in their accounts, these members attempted to withdraw their remaining funds. PGM immediately froze all affected accounts and sent an email stating that the accounts would be unfrozen within 15 working days to allow withdrawal of the principal. Additionally, Li Lieting, PGM’s APAC director, released a video stating that an investigation would conclude within 15 working days and member accounts would be unfrozen. Despite waiting for 15 working days, the accounts remained frozen and withdrawals were still denied. Members repeatedly negotiated with PGM without success; they kept being told that the investigation was ongoing and that accounts would be unfrozen promptly once it was completed. A few days later, Li Lieting proposed a solution where all accounts could be unfrozen but not allowed to withdraw funds unless new members were recruited into the market to deposit money; only then could some funds be released for affected members to withdraw a little—a clear indication of a Ponzi scheme. Members demanded evidence of alleged violations from PGM which they could not provide. Afterwards, affected members took to social media platforms like Douyin to expose the truth. In response, PGM announced that it would permanently freeze the victims' accounts—effectively robbing them. This is outright thievery! There seems to be no justice in this world; it's utterly corrupt. We'll discuss our losses later; right now, it's about how they refuse to release any remaining funds of all members—they just want to steal our money with endless delays and without providing any evidence of violations. All members must unite and publicly expose the truth so we can reclaim our hard-earned money from this unscrupulous broker. All other members who have opened accounts with PGM should stay vigilant; this is a typical tactic used by them. They claim violations when profits are made but fail to provide any evidence of such violations—it's clear that members can only lose and not earn with them. This is not what you expect from a broker supposedly under strict regulation; it's clearly a Ponzi scheme. We will fight until the end to restore justice.