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Comparison Of Ponzi In The US And Nigeria by danielgod(m): 5:29am On Jan 20, 2017 |
*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 8 Likes |
Re: Comparison Of Ponzi In The US And Nigeria by marshalcarter: 5:41am On Jan 20, 2017 |
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Re: Comparison Of Ponzi In The US And Nigeria by checkolatunji: 6:48am On Jan 20, 2017 |
danielgod: 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 13 Likes |
Re: Comparison Of Ponzi In The US And Nigeria by Henrolla(m): 7:20am On Jan 20, 2017 |
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 2 Likes |
Re: Comparison Of Ponzi In The US And Nigeria by eleojo23: 7:20am On Jan 20, 2017 |
This is 'Ponzi week' on Nairaland. 7 Likes |
Re: Comparison Of Ponzi In The US And Nigeria by psyqs(m): 7:20am On Jan 20, 2017 |
Re: Comparison Of Ponzi In The US And Nigeria by Iamwrath: 7:20am On Jan 20, 2017 |
MMM is ponzi |
Re: Comparison Of Ponzi In The US And Nigeria by Nobody: 7:20am On Jan 20, 2017 |
MMM just paid me Ask Ibrahim Musa Usman if you doubt me: https://www.youtube.com/watch?v=Nre3S4D0lVM |
Re: Comparison Of Ponzi In The US And Nigeria by babyfaceafrica: 7:20am On Jan 20, 2017 |
When government warned you people about the scheme.., una listen?..... 4 Likes 1 Share |
Re: Comparison Of Ponzi In The US And Nigeria by veekid(m): 7:20am On Jan 20, 2017 |
dem dey do MMM for USA too?
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Re: Comparison Of Ponzi In The US And Nigeria by olafunny(m): 7:20am On Jan 20, 2017 |
Life continues |
Re: Comparison Of Ponzi In The US And Nigeria by Chidexter(m): 7:21am On Jan 20, 2017 |
Hmm 3 Likes
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Re: Comparison Of Ponzi In The US And Nigeria by Moreoffaith(m): 7:21am On Jan 20, 2017 |
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... 2 Likes |
Re: Comparison Of Ponzi In The US And Nigeria by SirHouloo(m): 7:21am On Jan 20, 2017 |
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. 4 Likes 1 Share |
Re: Comparison Of Ponzi In The US And Nigeria by Samchelsea(m): 7:22am On Jan 20, 2017 |
MMM news again..... . . . seriously some people are already feeling this way . . But we that didnt invest and warned some people will be like... 3 Likes
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Re: Comparison Of Ponzi In The US And Nigeria by ddippset(m): 7:23am On Jan 20, 2017 |
If it was before MMM participants would have invaded this thread already, kicking and cursing! but today, they are nowhere to be ..... 4 Likes |
Re: Comparison Of Ponzi In The US And Nigeria by kyrios: 7:25am On Jan 20, 2017 |
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 1 Like |
Re: Comparison Of Ponzi In The US And Nigeria by Moreoffaith(m): 7:29am On Jan 20, 2017 |
sirRiddy: No be MMM pay you my brother na latest MUMU in town pay you 13 Likes |
Re: Comparison Of Ponzi In The US And Nigeria by akandry: 7:31am On Jan 20, 2017 |
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 2 Likes |
Re: Comparison Of Ponzi In The US And Nigeria by DonCortino: 7:33am On Jan 20, 2017 |
I really dont knw why u guys want MMM dead! |
Re: Comparison Of Ponzi In The US And Nigeria by Nobody: 7:33am On Jan 20, 2017 |
masterP042: 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! 29 Likes |
Re: Comparison Of Ponzi In The US And Nigeria by Generalkorex(m): 7:34am On Jan 20, 2017 |
Ok |
Re: Comparison Of Ponzi In The US And Nigeria by Dinocarex(m): 7:34am On Jan 20, 2017 |
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! 2 Likes |
Re: Comparison Of Ponzi In The US And Nigeria by Nobody: 7:39am On Jan 20, 2017 |
masterP042:Chuddy Ugorji spotted, EFCC where thou at 12 Likes 1 Share |
Re: Comparison Of Ponzi In The US And Nigeria by Theyveedo(m): 7:43am On Jan 20, 2017 |
marshalcarter: Boss teach me how to play the guitar naa biko |
Re: Comparison Of Ponzi In The US And Nigeria by helphelp: 7:44am On Jan 20, 2017 |
Ponzi na ponzi anywhere |
Re: Comparison Of Ponzi In The US And Nigeria by Kingspin(m): 7:46am On Jan 20, 2017 |
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. 1 Like 2 Shares |
Re: Comparison Of Ponzi In The US And Nigeria by registration(m): 7:47am On Jan 20, 2017 |
ok |
Re: Comparison Of Ponzi In The US And Nigeria by sakalisis(m): 7:49am On Jan 20, 2017 |
Ok |
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