An investment scheme allegedly resembling a pyramid operation is reportedly preparing to enter Tonga following the collapse of BG Wealth, which impacted many Tongans in the diaspora.
Kaniva News has received credible information that the scheme known as “Swift Wave Global” is currently being promoted within the Tongan online community, with plans for the scheme to be introduced in Tonga.
However, the identities of those involved are being withheld at this stage as investigations continue.
One of the videos reviewed shows a Tongan promoter positively associating Swift Wave with the now-collapsed BG Wealth Sharing scheme, referencing “trading”—a term commonly linked to the BG scam’s operations.
NZ Flags Ponzi Scheme
Warning the public about Swift Wave, New Zealand’s Financial Markets Authority (FMA) says the scheme is linked to a network of group chats and fake investment platforms associated with a high-risk, Ponzi-style scam, previously identified as TXEX.
The FMA has also identified Swift Wave Global as part of this fraudulent network, issuing the following advisory: “VCEX (also known as Victory Crypto Exchange, Swift Wave Global, SW Wealth Sharing Investment Group, Swift Wave Capital, Value Chain Exchange Inc).”
The regulator also named two websites connected to the scheme — vcexin.com and sw004.com.
Tonga Issues Warning
It comes after the National Reserve Bank of Tonga (NRBT) cautioned the public against engaging with schemes known as “SWIFTNET” and “SWIFT Pay,” noting that the information available about these schemes and similar ventures remains limited and lacks sufficient detail.
While the NRBT has flagged the two separate schemes operating under the name “Swift,” a different operation in New Zealand—calling itself Swift Remita—has also emerged, falsely claiming to be based there. Authorities confirm it is not a registered entity and is not authorised to provide banking or financial services in or from New Zealand.
The NRBT has encouraged anyone approached about Swift Wave or similar schemes to seek independent financial advice and verify the legitimacy of any investment opportunity before committing funds.
Pattern of emerging schemes
The emergence of Swift Wave comes at a sensitive time, as Tonga continues to grapple with the fallout from BG Wealth Sharing, which spread rapidly across social media and relied heavily on trust networks and peer promotion.
Financial authorities have repeatedly warned that such schemes often follow a similar pattern:
- Rapid online promotion
- Promises of high or guaranteed returns
- Lack of clear ownership or regulation
- Heavy reliance on recruitment
Officials say early participants may receive small payouts, which are then used to attract more investors before the scheme ultimately collapses.
Public urged to remain vigilant
Authorities are urging the public to exercise caution and avoid investing in any platform that is not properly registered or regulated.
With social media continuing to play a central role in promoting such schemes, experts warn that communities — including those in Tonga — may remain vulnerable to repeated exposure unless stronger awareness and scrutiny are applied.
