You probably have heard about Madoff.

lets bring thi to the fore

This story exemplifies the stark differences that exist between countries where there is an active rule of law, like the USA, and countries where criminality is celebrated, like Nigeria and Somalia.

The perpetrator of that massive investment fraud in the USA is looking at some serious jail time for his offense, and he has already been fitted with a GPS angle bracelet that will track his movements and alert authorities if the culprit tries to flee justice.   

By contrast, a similar offence committed in Nigeria would earn the con-man a string of chieftaincy titles and the fawning adulation of most who hear of the story, while all the loot would be left with the criminal so that it can be used to launch a bid for Nigeria's presidency a few years down the road.

I hope this will be an eye opener to Nigerians at home Ponzi scheme is already going on in Nigeria. Alot many investment firms are practicing it including banks. Recently there was a post on nairaland where a nairalander claimed he was reaped of by IBTC after a so called investment, according to him IBTC wasnt sure of paying him his full investment even without interest.

Very true this same scheme is definitely going in Nigeria even as we speak.