*US SEC Enforcement Actions Against Ponzi Schemes*

What Is A Ponzi Scheme?

A Ponzi scheme is an investment fraud that involves the payment of purported returns to existing investors from funds contributed by new investors. Ponzi scheme organizers often solicit new investors by promising to invest funds in opportunities claimed to generate high returns with little or no risk. With little or no legitimate earnings, Ponzi schemes require a constant flow of money from new investors to continue. Ponzi schemes inevitably collapse, most often when it becomes difficult to recruit new investors or when a large number of investors ask for their funds to be returned.
Curtailing Ponzi schemes and holding accountable the individuals responsible for these scams is a vital component of the SEC's enforcement program.
Examples of SEC enforcement actions against Ponzi schemes include:

2014
Neal V. Goyal – SEC charged a Chicago-based investment fund manager with operating a Ponzi scheme that used new investor funds to pay redemptions to existing investors and fund his own lavish lifestyle.
Gaeton "Guy" Della Penna – SEC charged a Sarasota, Fla.-based private fund manager with defrauding investors in a Ponzi scheme that ensued after he squandered their money on bad investments and personal expenses.
Joseph Signore and Paul L. Schumack II – SEC charged the operators of a South Florida-based Ponzi scheme targeting investors through YouTube videos and selling them investments in a product called virtual concierge machines (VCMs) that would purportedly generate guaranteed returns of 300 to 500 percent in four years.

*Canopy Financial* - SEC obtained an emergency asset freeze to halt a $75 million Ponzi scheme that defrauded investors in a private placement offering. The U.S. Attorney's Office for the Northern District of Illinois brought parallel criminal actions against Canopy Financial's founders.
Trevor Cook - SEC obtained an emergency asset freeze to halt a Ponzi scheme that raised $190 million from 1,000 investors through the unregistered sale of investments in a purported foreign currency trading venture. A judge later ordered Cook to be jailed for failing to comply with the asset freeze . The U.S. Attorney's Office for the District of Minnesota brought a parallel criminal action against Cook.
Mantria Corporation - SEC obtained an emergency asset freeze against four individuals and two companies for perpetrating a $30 million Ponzi scheme that persuaded more than 300 investors nationwide to participate in purported environmentally-friendly investment opportunities.

When will our government wake up to this menace?
Why can't Nigeria copy the US in dealing with this fraud?
Should we wait until Nigeria/Nigerians are ruined by this unscrupulous business?
Is the government really aware of the consequences of these schemes?

I really wish we could have a saner and organized system in Nigeria

God bless Nigeria

Data from: https://www.sec.gov/spotlight/enf-actions-ponzi.shtml

bros op...dat ya wish cnt cum to pass oooo




FTC finally ....I dedicate dis ftc to all guitarist in nigeria startin with keniyek my wonderful teacher.. den otedola papa my road modeh....methylblack...the one who gave me courage even wen i Just bought acoustic...nd oda in nland....may our fingers never get tired of runnin scales nd our wrist never cease to run upandan nd also....to all nlanders...nd seun....GOD bless you for creatin a place of fun lyk dis

danielgod:
*US SEC Enforcement Actions Against Ponzi Schemes*

What Is A Ponzi Scheme?

A Ponzi scheme is an investment fraud that involves the payment of purported returns to existing investors from funds contributed by new investors. Ponzi scheme organizers often solicit new investors by promising to invest funds in opportunities claimed to generate high returns with little or no risk. With little or no legitimate earnings, Ponzi schemes require a constant flow of money from new investors to continue. Ponzi schemes inevitably collapse, most often when it becomes difficult to recruit new investors or when a large number of investors ask for their funds to be returned.
Curtailing Ponzi schemes and holding accountable the individuals responsible for these scams is a vital component of the SEC's enforcement program.
Examples of SEC enforcement actions against Ponzi schemes include:

2014
Neal V. Goyal – SEC charged a Chicago-based investment fund manager with operating a Ponzi scheme that used new investor funds to pay redemptions to existing investors and fund his own lavish lifestyle.
Gaeton "Guy" Della Penna – SEC charged a Sarasota, Fla.-based private fund manager with defrauding investors in a Ponzi scheme that ensued after he squandered their money on bad investments and personal expenses.
Joseph Signore and Paul L. Schumack II – SEC charged the operators of a South Florida-based Ponzi scheme targeting investors through YouTube videos and selling them investments in a product called virtual concierge machines (VCMs) that would purportedly generate guaranteed returns of 300 to 500 percent in four years.

*Canopy Financial* - SEC obtained an emergency asset freeze to halt a $75 million Ponzi scheme that defrauded investors in a private placement offering. The U.S. Attorney's Office for the Northern District of Illinois brought parallel criminal actions against Canopy Financial's founders.
Trevor Cook - SEC obtained an emergency asset freeze to halt a Ponzi scheme that raised $190 million from 1,000 investors through the unregistered sale of investments in a purported foreign currency trading venture. A judge later ordered Cook to be jailed for failing to comply with the asset freeze . The U.S. Attorney's Office for the District of Minnesota brought a parallel criminal action against Cook.
Mantria Corporation - SEC obtained an emergency asset freeze against four individuals and two companies for perpetrating a $30 million Ponzi scheme that persuaded more than 300 investors nationwide to participate in purported environmentally-friendly investment opportunities.

When will our government wake up to this menace?
Why can't Nigeria copy the US in dealing with this fraud?
Should we wait until Nigeria/Nigerians are ruined by this unscrupulous business?
Is the government really aware of the consequences of these schemes?

I really wish we could have a saner and organized system in Nigeria

God bless Nigeria

Data from: https://www.sec.gov/spotlight/enf-actions-ponzi.shtml

Trust naija, we get agidi ehn

Sebi Govt warn greedy goats about MMM but dem no hear.

The one wey pain me pass na one of my friend wey be guilder. If you see as the guy still dey follow me argue ehn, you go bow

mathematically speaking,

MMM = Ponzi scheme x Fraud.

Participants were warned by family members, friends, well wishers. and even Government that's usually not taken serious warned. but they tagged everyone as "Enemy of Progress" and ignorant of the scheme's Modus Operandi.

Participants should keep hope alive though, miracles happen everyday

This is 'Ponzi week' on Nairaland.

MMM is ponzi

MMM just paid me
Ask Ibrahim Musa Usman if you doubt me:

https://www.youtube.com/watch?v=Nre3S4D0lVM

When government warned you people about the scheme.., una listen?.....

---

dem dey do MMM for USA too?

Life continues

Hmm

MMM participant don suffer....khikhikhikhi

Enemy of progress crew..

Is it your money crew..

January 14 crew..

Is it your business crew.

Please if una don collect una money abeg organize party and upload pinchure for us make we see o...

America fit talk coz they made life easy for their citizens... Wetin Naija government wan lay claim to say dem dey do and as such enforce a law stopping people from doing what they feel could lessen the agony wey the government put them.

MMM news again.....
.
.
.
seriously some people are already feeling this way
.
.
But we that didnt invest and warned some people will be like...

If it was before MMM participants would have invaded this thread already, kicking and cursing! but today, they are nowhere to be .....

The government warned but they said the government was against anything good now they call on the government to help them fight for justice so funny and who them go arrest ? Even so called chuddy is a guider if they close down the website you know Nigerians they would blame the government abegi its their cross let them carry it

sirRiddy:
MMM just paid me

No be MMM pay you my brother na latest MUMU in town pay you

MMM participants should forget their money and move on fact is MMM can't recruit new members and chidi and Co guilders have gotten enough share. You were all warn but greed never let you guys listen

I really dont knw why u guys want MMM dead!

masterP042:
*GOOD MORNING ALL*

​Dear mavrodians, I have watched with keen interest how we have conducted ourselves in this period of upgrade and sustainable programming of the community and I must say am not particularly impressed with some of us. 

Let me inform us, that MMM deserves much more than we are doing or saying and I make bold to say that…… there is no one here who has not gotten back from the system, more than what he or she has put in…. Hence, the need for me to address some concerns… 

1. MMM has never said that they need money from us! Mavrodi has not asked us to PH before we can GH and as such, I won’t want people misinforming others here. 

2. I joined MMM in April last year and we were barely 72,000 participants pan Nigeria and on weekly basis, we had guiders and participants who cashed large sums of money and there was never any issue or issues with money to be paid. 

3. Guiders are managers in the system and not enemies and hence, the need to accept the structure as set up by Mavrodi himself. 

4. The ascension to the post of Guider, is not an exclusive preserve of a few but for all who aspire to be one. Before now, in my time, Guider position was advertised once in 2 months but now, twice in a month or thereabout, making it a lot easier for all who desire it. 

5. Nigeria is not the only country where MMM exists. As a matter of fact, MMM is in 132 countries and they all have what is called – Guider bonuses, so, the Nigerian experience won’t be different. 

6. Just like the managers we have in our various places of work, who do nothing but earn huge salaries at the end of the month, Guiders are not different. The fact that we have some Guiders who don’t even understand the real ideology of MMM, how much more fulfill their roles as leaders in the community, does not mean all Guiders are like that. 

7. Bear in mind, that there’s a Supervisory Council that punishes erring Guiders and would demote any Guider who compromises his role. 
However, having said this much, let me remind us that there are more critical issues confronting us and these issues are KEY to the stability and sustenance of our beloved community. 

1. Upload of fake Proof of Payment! This is perpetrated by us (Nigerians) and not aliens. Now that MMM has come back, we must resolve never to upload fake POP again cos that is enemy number 1 to MMM. 

2. We must desist from creating multiple accounts thereby pledging amounts that we don’t have. MMM says, “Use your spare money!” and spare money is relative. What is spare to one, might be extreme to the other. Use your spare money. 

3. Any information not posted on your Personal Office (PO) or given by your Guider should be disregarded. We must never carry false news especially the ones capable of creating panic and discouragement. 
4. We must be willing to show love to one another. When someone calls and asks for extension of time, please extend time for the person. We must learn to give people benefit of the doubt. 


Fellow Mavrodians, let me assure all of us here that MMM is back and it’s back for good! We will all smile! We are going to have a more trusted and stable system. Let us be calm, positive and happy. We are greeted once again, with a system that works! 

MMM pays people!! Long live MMM!!!

*#Greatmind cares#*

Did you notice that nobody liked nor shared your fraudulent comment?

You're only fooling yourself & members of your family.

MMM is dead & buried - wake up!

Ok

Its high time the Govt stood to curtail the activities of Ponzi Schemes in Nigeria. They are too much nowadays that they have moved to whatsapp and Telegram.
Ponzi Schemes with different names.
MMM West Africa, Greenspeer, MMM south Africa, NNN, iCharity!
OMG!!!! The list is endless!

masterP042:
*GOOD MORNING ALL*

​Dear mavrodians, I have watched with keen interest how we have conducted ourselves in this period of upgrade and sustainable programming of the community and I must say am not particularly impressed with some of us. 

Let me inform us, that MMM deserves much more than we are doing or saying and I make bold to say that…… there is no one here who has not gotten back from the system, more than what he or she has put in…. Hence, the need for me to address some concerns… 

1. MMM has never said that they need money from us! Mavrodi has not asked us to PH before we can GH and as such, I won’t want people misinforming others here. 

2. I joined MMM in April last year and we were barely 72,000 participants pan Nigeria and on weekly basis, we had guiders and participants who cashed large sums of money and there was never any issue or issues with money to be paid. 

3. Guiders are managers in the system and not enemies and hence, the need to accept the structure as set up by Mavrodi himself. 

4. The ascension to the post of Guider, is not an exclusive preserve of a few but for all who aspire to be one. Before now, in my time, Guider position was advertised once in 2 months but now, twice in a month or thereabout, making it a lot easier for all who desire it. 

5. Nigeria is not the only country where MMM exists. As a matter of fact, MMM is in 132 countries and they all have what is called – Guider bonuses, so, the Nigerian experience won’t be different. 

6. Just like the managers we have in our various places of work, who do nothing but earn huge salaries at the end of the month, Guiders are not different. The fact that we have some Guiders who don’t even understand the real ideology of MMM, how much more fulfill their roles as leaders in the community, does not mean all Guiders are like that. 

7. Bear in mind, that there’s a Supervisory Council that punishes erring Guiders and would demote any Guider who compromises his role. 
However, having said this much, let me remind us that there are more critical issues confronting us and these issues are KEY to the stability and sustenance of our beloved community. 

1. Upload of fake Proof of Payment! This is perpetrated by us (Nigerians) and not aliens. Now that MMM has come back, we must resolve never to upload fake POP again cos that is enemy number 1 to MMM. 

2. We must desist from creating multiple accounts thereby pledging amounts that we don’t have. MMM says, “Use your spare money!” and spare money is relative. What is spare to one, might be extreme to the other. Use your spare money. 

3. Any information not posted on your Personal Office (PO) or given by your Guider should be disregarded. We must never carry false news especially the ones capable of creating panic and discouragement. 
4. We must be willing to show love to one another. When someone calls and asks for extension of time, please extend time for the person. We must learn to give people benefit of the doubt. 


Fellow Mavrodians, let me assure all of us here that MMM is back and it’s back for good! We will all smile! We are going to have a more trusted and stable system. Let us be calm, positive and happy. We are greeted once again, with a system that works! 

MMM pays people!! Long live MMM!!!

*#Greatmind cares#*

Chuddy Ugorji spotted, EFCC where thou at

marshalcarter:
bros op...dat ya wish cnt cum to pass oooo




FTC finally ....I dedicate dis ftc to all guitarist in nigeria startin with keniyek my wonderful teacher.. den otedola papa my road modeh....methylblack...the one who gave me courage even wen i Just bought acoustic...nd oda in nland....may our fingers never get tired of runnin scales nd our wrist never cease to run upandan nd also....to all nlanders...nd seun....GOD bless you for creatin a place of fun lyk dis

Boss teach me how to play the guitar naa biko

Ponzi na ponzi anywhere

Common polulation census data we don't have good records. Since we cannot count our selves well the country is fruitless. Till date Nigeria do not have a single successful project that we can completely beat our chase out we done excellently, from road, power, job, regulation, law etc. So don't expect Change on any yet in Nigeria.

ok

Ok