As of December 1, 2022, the case has been closed.

In 2021, Ubeidi's domestic trading team was wiped out by the police. Xu Gang and Andy escaped through the net and were free in Australia and Malaysia. However, they were arrested and brought to justice in early 2022. They used Ubeidi investment projects as an excuse to defraud money. In 2022,

It was decided on March 25 that those involved in the team would be sentenced to five years in prison and all money would be returned.

Ubeidi is a fund company.

Dr. Xu Gang, chairman and founder of the Ubeidi Foundation, postdoctoral fellow at the University of Cambridge, financier, co-chairman of the World Digital Cooperation Organization, and co-chairman of the Chinese Chamber of Commerce in the United States.