SarkinYarki:
So this dude eventually went into organised fraud like I predicted way back

somehow:


Which of the companies promised this monthly?

Thanksful:


You know the guy?

tutudesz:
Other countries are using crowdfunding to grow their business, while some idiots are using it to scam people
See people investing in your ideas while honest people hardly see investors, this Life

tutudesz:

There so many investment companies, read about Baraza(pastor bribena)

SarkinYarki:


Yes

somehow:


What you're talking about is outside this particular article.

bennybuhari:
Why are Nigerians so gullible

Speaking on whether the principal will be paid alongside ROI, he noted that the agreement said if anything goes wrong, the least we can pay them is their principal investment. Meanwhile, he added that the company is yet to reach a decision on whether the capital alone will be paid or if returns will be added.

Thanksful:


Omo, if you tell people that time say him go run people street like this. Them no go believe you .

Nigerialabalaba:


https://nairametrics.com/2022/04/14/investors-call-out-ceo-adama-j-adama-as-they-demand-payout-for-overdue-investment-in-ceepass-viable-x-farm4me/

Esseite:
We just know how to ruin every good initiative.. now anything crowdfunding, investment is seen as scam...

GBJakes:

Truth be told, every investment in Nigeria is a scam. Even if it's legit, give it time it will surely end up with stories. Cut the long story short, Nigeria is scam and everything that comes out of it...

tutudesz:
Other countries are using crowdfunding to grow their business, while some idiots are using it to scam people
See people investing in your ideas while honest people hardly see investors, this Life

DKM123:
Where are all the regulatory agencies? Aren't they supposed to prevent stuff like this?

How is it that this issue of scammers running away with investor's money keep happening every other month like a recurring decimal. Why is this country so fc,*uked up? I suspect that this agencies are part of the grand scheme and purposely allows this scammers rack up the billions from unsuspecting victims and then get THEIR OWN SHARE under the guise of shutting up thier services after like 2 or 3 years of gathering people's sweats.

Asour:


People actually work for investors & bring money back — while they themselves are being rewarded — without stepping foot at those companies.

Most commercial banks, Dangote, MTN, BUA foods etc all have investors who put their money in them and earn dividends periodically.

Even cooperatives like REI co-op exist in the US. A fews Real Estate Investment trusts exist in Nigeria e.g. UPDC.

The model is not the problem here. it's our corrupt tendencies so don't judge a concept by its flawed application. Most Nigerians — especially the Business class lack integy.

tutudesz:

The high return doesn't make sense at all 40% to 50% monthly

West1side:
Learnt mine with pennywise this days I just laugh off others but the ones I pity most are those advertised on my darling Nigeria Info. I feel sorry for those that will be scammed already.

WIZGUY69:


Which one be that again?
Nigerians are too gullible. How I fell for MBA is still a mystery to me because I de street pass all those nonsense. If not for the fact that they have physical offices and packaging, wetin concern me with investing?

letustalk:
Nah beg I beg. Hope piggyvest and wemalat and carbon dey okay o? Who fit check make e help me check abeg. Life savings things

Asour:



SEC is nice but sorry to say, it is not fool proof.

Do you know who Albert Okumagba (+) is?
He was a former President of the Chartered Institute of Stockbrokers of Nigeria.

He was also the MD/CEO of Bgl securities.
So we can say he was the establishment (or part) of the investment community in Nigeria.

Why was he ousted as CIS president and why does BGL no longer operate today? Largely investment fraud.
Even in the US, Bernie use to host SEC executives to dinners.

Don't get me started with Peter Okolo and the likes that defrauded several Investors — all under the nose of SEC. Am I saying SEC is bad? No! I am just admonishing these business guys to be more Trust worthy. If I can't invest in my family/friends who I know directly or through a trusted friend's referral then such a country is doomed.

Great Investments aren't always a (suit & tie) all formal endeavor, they are also borne out of trust. SEC or no SEC.

May God help us.

jide4lagos:
Ope ooo, I almost put my money in this sh*t before I use the money run France student Visa package. Alihamdulilah. If you see this scammer profile and the office eh... You must collect wotowoto

makavell7:
I couldn't help laughing really hard after reading your bolded submission, I cant believe you are equating ponzi piramid setups to these solid and reputable companies that sells goods and services and are listed on the nigerian stock exchange! are mmm or any of all these your funny sounding socalled investment companies listed on the nigerian stock exchange? Anyone who invest his hard earned money in any company or platform in any form or name deserves to be ripped off and i have no sorry reserved for them.

A fool and his money will surely depart sooner than later!

Asour:


You should read the comment I was replying.

By the way, 'reputable' goods & services companies can become ponzi schemes too.
Chinmark group for instance does 'real businesses ' too. You can be scammed by listed companies too. Go read about Peter Ololo & his play in the Nigerian capital market.


My point is that the model of these cooperatives isn't fraudulent (our forefathers have had cooperatives from time immemorial) it is the fraudulent people & false claims of 'juicy' returns that are to blame.

makavell7:
Chinmark and Chimall where never real businesses they jwere just passing arround some products to make it look like they were doing buying and selling but their main business was the piramid ponzi.

The rule is that any business or organisation that ask for money to get back double in a short period of time or says you should bring one person that will bring one person is a piramid ponzi scam that would eventually run away with the whole funds!!!! know this and have peace of mind

maasoap:


Dem go abuse you and take you to cleaner. Some of them really get bad mouths that can make one commits suicide

simplesearch:
Hiss, 419ers and their usual format!