Man Loses ₦26 Million Naira in Ponzi Schemes

In this video, Tech YouTuber, Fisayo Fosudo shares details about Ponzi Schemes, how it works, and things to look out for to avoid similar situations.

VIDEO:
https://www.youtube.com/watch?v=0wmvxZxh7pE

Ponzi and Pyramid Schemes have become the order of the day, targeting unsuspecting Nigerians and swindling them of their hard-earned money. They usually come under the guise of making fast money (usually high return on investments) on a consistent basis and need more referrals to let older entrants cash out.

One of the biggest Ponzi schemes in Nigeria, MMM has stolen millions from Nigerians despite the founder having a 4-year jail sentence years prior to the entrance of the scheme in Nigeria & Africa.

Many Ponzi and Pyramid schemes these days even have CAC records and licences to operate as "investment" companies. In the end, if an "investment" seems too good to be true, promises overtly consistent returns like 10-30% returns every month. It probably is a scam.

Have you (or someone you know) been affected by a Ponzi Scheme? What's your story? and how do you know what to look out for in order to spot a Ponzi scheme?

Racksterlians how market?

traderians how market

Elancie people how market?

Mehn, that's a whole lot of money invested wrongly. Why not start a business instead.

We can register your business Name @ 15k only
We can register your Limited Liability company @35k only.

Whoever is planning to buy crypto from these telegram groups like escrow, don't do it.. They are scam.... They keep posting transactions buy this, receive that, sell this, they are al clique don't fall for it.
I am trying to buy some crypto from escrow, a friend added me to the group immediately the admin receive the money I paid he removed me from the group.

What they do is the buyer pays to admin, the seller credite your wallet and the admin will then credit the seller acct. They are all lies pls don't fall for it.

Seriously? When some people just dey find like 1mil

Our people never learn nah..... So the sensible one's, snatch their funds from them......


The fools and their money, are soon parted........

Good. So you have 26m and you are not content with it. Thief.

FlashDboy:
Whoever is planning to buy crypto from these telegram groups like escrow, don't do it.. They are scam.... They keep posting transactions buy this, receive that, sell this, they are al clique don't fall for it.
I am trying to buy some crypto from escrow, a friend added me to the group immediately the admin receive the money I paid he removed me from the group.

What they do is the buyer pays to admin, the seller credite your wallet and the admin will then credit the seller acct. They are all lies pls don't fall for it.

I never believed them. They are THIEVES

Crimrburster:
Good. So you have 26m and you are not content with it.

That person became an agent, he was collecting money from people to invest..........

Ghen Ghen

Hope CHYMALL is not a scam.

FlashDboy:
Whoever is planning to buy crypto from these telegram groups like escrow, don't do it.. They are scam.... They keep posting transactions buy this, receive that, sell this, they are al clique don't fall for it.
I am trying to buy some crypto from escrow, a friend added me to the group immediately the admin receive the money I paid he removed me from the group.

What they do is the buyer pays to admin, the seller credite your wallet and the admin will then credit the seller acct. They are all lies pls don't fall for it.

anything Instagram is scam. Knew thix for years.

Greed is the root of all evils, not money.

FlashDboy:
Whoever is planning to buy crypto from these telegram groups like escrow, don't do it.. They are scam.... They keep posting transactions buy this, receive that, sell this, they are al clique don't fall for it.
I am trying to buy some crypto from escrow, a friend added me to the group immediately the admin receive the money I paid he removed me from the group.

What they do is the buyer pays to admin, the seller credite your wallet and the admin will then credit the seller acct. They are all lies pls don't fall for it.

this is my story, happened to me last month

I buy crypto face to face

FlashDboy:
Whoever is planning to buy crypto from these telegram groups like escrow, don't do it.. They are scam.... They keep posting transactions buy this, receive that, sell this, they are al clique don't fall for it.
I am trying to buy some crypto from escrow, a friend added me to the group immediately the admin receive the money I paid he removed me from the group.

What they do is the buyer pays to admin, the seller credite your wallet and the admin will then credit the seller acct. They are all lies pls don't fall for it.

26m - chicken feed

All this are scam or do you think you can scam me?


NO

I don't think so sir

Join me

Mavrodians, assemble here.

I look back and laugh now, no shortcut to money. You can't use money to buy money
#MY2CENTS

FlashDboy:
Whoever is planning to buy crypto from these telegram groups like escrow, don't do it.. They are scam.... They keep posting transactions buy this, receive that, sell this, they are al clique don't fall for it.
I am trying to buy some crypto from escrow, a friend added me to the group immediately the admin receive the money I paid he removed me from the group.

What they do is the buyer pays to admin, the seller credite your wallet and the admin will then credit the seller acct. They are all lies pls don't fall for it.

Find a standard P2P platform to deal safely.

Paxful and Binance are there.

FlashDboy:
Whoever is planning to buy crypto from these telegram groups like escrow, don't do it.. They are scam.... They keep posting transactions buy this, receive that, sell this, they are al clique don't fall for it.
I am trying to buy some crypto from escrow, a friend added me to the group immediately the admin receive the money I paid he removed me from the group.

What they do is the buyer pays to admin, the seller credite your wallet and the admin will then credit the seller acct. They are all lies pls don't fall for it.

Go to Binance and buy cripto now

Wat of fx fam,

Crimrburster:
Good. So you have 26m and you are not content with it.

I wonder o . In my neighborhood , a man who leaves his family to work Monday to Friday ( comes back weekend ) once told me that if he should get 1 million naira , he would establish his own business in that community and never go out again ! Imagine what 26 million will do for such a person .

fortune1968:
I wonder o . In my neighborhood , a man who leaves his family to work Monday to Friday ( comes back weekend ) once told me that if he should get 1 million naira , he would establish his own business in that community and never go out again ! Imagine what 26 million will do for such a person .

He is just talking

can 1M rent a decent shop and furnish it and stock it well to sustain a family within a short time?
dude forgets a new biz takes time to stand

1M today is not 1M in 2010 jare

Proftowin:
Hope CHYMALL is not a scam.

CHYMALL is the new MMM.
If your funds are in there exit fast.
Unfortunately people will never listen or learn until it is too late...

PoliteActivist:
26m - chicken feed

Imagine 26m na chicken feed..how many people you don' help

Dantedasz:


CHYMALL is the new MMM.
If your funds are in there exit fast.
Unfortunately people will never listen or learn until it is too late...

I know someone there. His confidence is that they have products