Wickedtruths:


Chibuzor, you are an Igbo guy and Igbo guys don't get scammed. When MBA collapses and your money is still inside, that is when you would see that you're the most idiotic igbo guy alive.

Get out with your uniformed belief about the Igbo man.
Are you sure you're really an Igbo man?
There's no rich Igbo man that hasn't lost money. Losing money does not signify the end of life or of the world.
If you're afraid of losing money, just keep the little you have in your savings account, and stop disturbing people.
This "I know better" mentality in Nairaland is getting out of hand, yet the country is still wallowing in economic doldrums.

MBA forex may not have started as a ponzi, it has no choice than to result to ponzi in order to sustain investors confidence, when you payout money you did not make with other peoples money, what is that called? which forex company makes 15% consistently without a losing month? they suffer more losses by paying out money to investors, making people see them as forex gods, unfortunately trading never works that way. The claim they have reserved with several brokers, which broker give traders reserve? how is the reserve generated, Many unanswered questions. having an office so beautifully arrange to paint an all is well condition does not mean all is well, every investment has risk, the investors should be aware that they stand a chance to lose 100% when they company gives a 100% guarantee on capital and profit.

fxjones:
MBA forex may not have started as a ponzi, it has no choice than to result to ponzi in order to sustain investors confidence, when you payout money you did not make with other peoples money, what is that called? which forex company makes 15% consistently without a losing month? they suffer more losses by paying out money to investors, making people see them as forex gods, unfortunately trading never works that way. The claim they have reserved with several brokers, which broker give traders reserve? how is the reserve generated, Many unanswered questions. having an office so beautifully arrange to paint an all is well condition does not mean all is well, every investment has risk, the investors should be aware that they stand a chance to lose 100% when they company gives a 100% guarantee on capital and profit.

thanks..it a patrotic duty to educate uninform Nigerians.....MBA should publish p/L accounts ....let the reasonable public see .....they have a lot of thuggish paid online agents to harras any opposing voice ..

We will stop them, let keep this thread active, frontpage mod

fxjones:
We will stop them, let keep this thread active, frontpage mod

please asist me #EndSAS and #End MBA scams .....they should be compel to publish their income statement as a firm with public money and blood.....

see jobless persons taking headaches for others investment...
why not help yourselves before looking out for persons to help

The story of Dr Umana is something many of you may be too young to know or had ever heard of but the story is not fiction nor from a story book but its rather real and it happened in Nigeria.
It was In the mid 1980s, as usual since the 70s I was on my annual holiday in Port Harcourt (my place of birth) from England. A day after my arrival, a cousin of mine that also lives in Port harcourt and a teacher by profession came to me and after all the niceties asked to borrow some money from me and I asked her how much? And she said 35 thousand naira!

I nearly fell off my seat or had a heart attack and I asked, what she needed such amount of money for and how long she thinks it will take her to pay me back if I am mad enough to give her that sort of money?
Then I thought I was day dreaming when she said that she will pay me back with interest before I return back to England (i.e in 4 weeks time).

It was then she told me that a new booming business based in Aggrey Road in Port Harcourt called Umana Bank for the past six months and it works this way: Whatever you deposited into the Umana Bank after full 4 weeks, you can withdraw your entire deposit with a whopping 100% interest paid to you in full. I laughed like I had never laughed before and said to her that she is either mad or had been conned by some people that want to con some money she never had.
Then my host, another relative of mine, looked at me and smiled and he told me that my cousin is telling the truth and as a matter of fact, he too had deposited 50 thousand naira and his deposit is due to be cashed within few days and I can come with him on the day of withdrawal.
I knew now that if this is a joke, it must be an expensive one because I think my whole family has conspired to con me using this made up story or something is wrong somewhere.
Because my host is a very intelligent businessman who owes three big petrol servicing stations in Port Harcourt and another two in Aba/Orlu.

Then he took me outside and pointed out to me a brand new Toyota Crown car he claimed to ha have just bought and he told me that it was from the interest he earned from Umana Bank the month bedore. As the evening wore on I start to meet many old friends and relatives and each time I met anyone, Umana Bank is the centre of the all discussions. Everyone is at, it seems. Young, old, poor, rich, middle class, intellectual etc, everyone has or has cashed their deposit with Umana Bank.

I spent the entire week trying to figure out what was happening, and I start to get the best picture of what is happening with the Umana Bank wildfire when on a trip to Aba, I was having launch with comrade of mine in the Biafra army, who is from Ikot Abasi in the old Cross River state and who happens to be a Bank manager of ACB branch in Aba and I asked him whether he had heard about this Umana Bank in Port Harcourt?

And he confirmed that Umana Bank is real.
He went on to said that almost all Banks in the old East has ran out of cash because everybody has withdrew their entire cash to deposit with Umana Bank and then he whispered to me that he too had borrowed 50 thousand Naira from his own bank illegally to deposit with Umana Bank and how he was having nightmare for a whole month his money was there and how he could not believed it when at the end of the month, he went to Port Harcourt, not only he cashed his 50K naira but got another 50K naira cash in interest.
How he discreetly put the original cash back to his bank and is using his 50K naira windfall to start finishing a storey building (house) he had been struggling to build for the past 5 years in his village and he has also bought himself a fairly used 505 GL which he showed me and that he has deposited another 10K from his windfall from Umana Bank.

Going back to my host, he kept his words weeks later when he asked me to accompany him to cash his deposit of 70K.
And couldn't wait to go with him because it still sound unreal, despite all the evidence to the contrary.
On getting there, the crowd of depositors and withdrawal stretched over two miles if I am not exaggerating. I saw all sorts of people, from traders to rich people to even police/army/navy/air force personnel in their uniforms lining up and there was rumour going round too that even the then military governors around and all their commissioners has put their cash in Umana Bank.

I could not stand in the line with my host for that long and I had drive down to Owerri for some meeting and later returned back to P.H and he was still there and after almost 8 hrs he went into the building and 30 minutes later, he came back to the car and I drove off heading home and he was singing through out the short journey home
And to my GREATEST amazement, when we got into the house, I was nervous and also excited and he opened the ruck sack and there it was- bundles of Naira notes and he was dancing around the front room with his wife and kids and when he settled down later.
He started counting the cash and to my astonishment again it was 140K Naira cash in total as he claimed a week before that he will get.

I am now convinced that Umana Bank is real for whatever this guy is doing but the question I kept asking was:
Who is this Dr Umana E Umana?
What is going on?
What does it do with the money deposited with him?
Is he licensed by the then government (IBB govt) .
And has anyone ever heard of such an interest return before?

Few weeks later, I returned back to England and couldn't wait to tell my wife, and she said to be that a great fraud is happening but never has she heard how open it was.
But exactly a week after my return, I got a call very early in the morning from my relative/host. His first word was: Umana has collapsed and with my 40K Naira with it!
I asked him what happened?
He said, everything is still very sketchy but it seemS that they woke up one morning and saw the whole of Port Harcourt city like in a war situation with thousands heavily armed army, police all over the city drawn from all over Nigeria, sent by the order of IBB to stop Umana's operation, arrest him and bring him to Abuja.
He then told me that a bungalow at Creek Road situated among many other houses was the house Umana used to keep the cash without the faintest knowledge of anyone.
Then story start to emerge about those that had sold everything they got to deposit it after cashing the initial small some and I was told millions of people lost their money. As everything Nigeria- Dr Umana was whisked to Abuja, till today, no one heard of him again or his money or any enquiry set up by IBB's government to tell the world/Nigeria who this man is and what he was doing?
Umana and Umana Bank just disappeared into tin air till this day.

Dantata Success Promoters in Court for Taking N2bn from 7,250 Investors

ahiboilandgas:
Dantata Success Promoters in Court for Taking N2bn from 7,250 Investors

Nospetco investors are still in court 13 years after the collapse of the scheme, some of the investors are even dead

ahiboilandgas:
#EndSARS.#EndMBA.#Endbara cc to sec ,ccNfiu...and NSE.

Hello Sir,

Please what high risk investments have u done?

pussiboner:


Hello Sir,

Please what high risk investments have u done?

buying land and reselling

Op, Your mate are fighting for the betterment of these country, you're here sleeping and waking up on nairaland 24hours by creating unnecessary topics here and there. You really have time, hopefully one day you will get a job or contract to keep you busy and away from nairaland. One man meat is another man's poison. If you can't mind your business and allow adults make their choice with their money, that makes you so jobless. I don't support any business online and offline cos risk is everywhere, neither can I condemn anyone that choices to bear the consequences if such investment fails. Grow up please

ahiboilandgas:
buying land and reselling

I don't see it as high risk. Because chances of loosing your capital is low, or at best medium.

Land normally appreciate, at worst remains same.

So to me, real estate can't be classified as high risk

pussiboner:


I don't see it as high risk. Because chances of loosing your capital is low, or at best medium.

Land normally appreciate, at worst remains same.

So to me, real estate can't be classified as high risk

thats means i dont do high risk

ahiboilandgas:
thats means i dont do high risk

What I advice young men is to take risk.

Low risks
Medium risks
High risks.

I can understand you are advanced. I also can bet that you have had high risk businesses in the past that shaped you into the guru you are now.

What is most painful is taking NO risk. How else can one learn and be a better person?

As a new investor in MBA. After reading through all the comments here. I can only say, some might get terrified because of the comments they read here, but to me, my confidence only grew..
The most greediest Nigerians are Dangote, Otedola, Elumelu, Adenuga and all the richest men.

A coward dies many times, but the death of the brave man is only but once...

Many gain confidence in praises, but only few gain confidence in criticisms.
Thanks all for strengthening my confidence...

Macelliot:
As a new investor in MBA. After reading through all the comments here. I can only say, some might get terrified because of the comments they read here, but to me, my confidence only grew..
The most greediest Nigerians are Dangote, Otedola, Elumelu, Adenuga and all the richest men.

A coward dies many times, but the death of the brave man is only but once...

Many gain confidence in praises, but only few gain confidence in criticisms.
Thanks all for strengthening my confidence...

Read this thread and the comments in it.

https://www.nairaland.com/3344728/nigerians-ignore-secs-warning-mmm

osarog:
Why una dey take panadol for another man headache ? There's no investment or business that's risk free. Investment is about losing money and making money. I don't think it's a big deal If MBA and BARA crash and people lose money. You guys are always quick to mention how much people lost in MMM but fail to tell us how much money people made in the same MMM. Sometime in 2007, I investment in Afribank shares and today the money is gone. And that's what investment is all about.

Me too, and AIT Daar shares in 2008 and now the money is gone. I don't know why people break there head for another mans investment wether foolish or wise investment is none of anybodys business. Some people called btc investment in 2008 foolish investments, i for no listen to them. With 50k, i would have gotten about 50btc in my wallet. Everything about money is risky, they should stop opening threads up and down, channel the energy on sth usefull. Imagine someone shop looted by hudloms during this protest would wish he or she had used it for ponzi. In life nothing is certain, you win some you lose some, life goes on. Calling Nigerians greedy while Epl stadiums are flooded with all types of BET company adverts, what is difference between bet and mmm and what do you call there citizens who patronize them?

Okay, MBA is fake abi? Pls don't invest. What else? Church dismiss!
No matter how a company performs, the public has every right to build an opinion... Whether the opinion is right or wrong is what the company will live to prove to the world.
So far so good, MBA hasn't run away. They haven't closed any of their offices cos of fraud. They still pay RETURN ON INVESTMENT.
So believe in what you want to. You could be right, your could be wrong. But ALL BUSINESSES ARE RISKS. CHOOSE YOUR RISK AND MOVE!

This the final fate of their investor.......pls u all will remember this thread .....https://www.nairaland.com/6166363/nigerian-jonas-udogo-been-arrested#94703593

In every business and investment, there are genuine and fake ones everywhere, if you're not comfortable giving an expert your money to trade for you, then learn the business and trade for yourself. Forex market has always been there for ages and will always be there whether anyone likes it or not.

.

Nigerians no smart na

Plus greed

ahiboilandgas:
When will Nigerians learn that this is a pyramid schemes that will collapse and new investment that is used to pay old investor untill it collapses.....Nigerians lost 30bn in MMM and other unknown schemes ...there no free money any where .....even dangote with is big factory is doing 27 percent per anum.....then some one will tell u he will give u 170 percent per anum .....

Well, for ur information, Nigerians will keep falling victims of these Ponzi schemes due to their greed. They will never learn. Pyramid scheme operators will keep cashing out in Nigeria till kingdom come.

I am saving very hard to invest can't wait to join the winning team MBA IS A GOAL

Anyone saying "but the scheme is still running for years now," doesn't know how big-time Ponzi schemes work. Bernie Maddof, the record holder for the largest Ponzi scheme in history, ran his scheme for over a decade before the bubble burst.

It insults every mathematical intelligence to think these organizations truly trade Forex and make such profit margins continually without drops in profit or financial loss enough to make you unable to pay that month.

When MMM was on, everyone that was warned didn't listen. To be bitten twice would be foolish on your part. Stay Away!

Wickedtruths:


Read this thread and the comments in it.

https://www.nairaland.com/3344728/nigerians-ignore-secs-warning-mmm

Forex is not a new business. Oyibo man wey don do forex since no promise 15% per month. My belief is when you promise to pay people a certain percentage per month whether you make profit or loss, it puts pressure on the business. If you encounter series of losses, you are already under pressure to recover. In the meantime, you are collecting money from people.

Unlike companies on the stock exchange, does MBA have first class auditors who can sound the alarm when the business is veering into ponzi All i know is MBA did not discover a diamond mine at their backyard. Forex is not new to Oyibo people and they have never promised 15% per month.

People keep mentioning expensive robot that Maxwell is using to trade. Is he wiser than the people who have been trading forex before he established MBA?. Is he a mathematical genius What is his background? Who knows here? I tried searching once for his educational and professional background, i didn't find anything.


I am a risk taker and there are some businesses i invest in that i know in my mind are ponzi like. I just pray to God to help me cash out before it crashes. I am always honest with myself. I have even decided to repent and go slow and steady. Doesn't make any sense making money from a ponzi scheme and losing a higher or equivalent amount to another ponzi scheme.

What i noticed about MBA Investors is that they are acting like MMM investors of back in the day. Attacking anyone who says MBA is Ponzi. I think their subconscious knows it is Ponzi and they are afraid that panic might cause other investors to pull out and crash the business like in the case of MMM.

The same way MMM investors said nothing will happen to MMM because it was established by God to bring Nigerians out of poverty, this is the same way MBA FOREX investors are calling God up and down. Nigerians will allow greed cloud common sense and be calling God up and down.

I pity the people who will have their money there when it crashes.

Bara,bara,bara how many times did I call your name big big SEC trouble ahead. Take heed and withdraw if you can the S**t is about to hit the ceiling

Cause they will soon be roasted

I will create a free group to teach nairaland


Real trading sha with daily profit

mmm