Maxwell's money is with the banks.

ifeanyija:
But they can't arrest Maxwell of MBA Trades

ahiboilandgas:
stop saying Nigerians say it clear igbo people

Irritating!
Must you be tribalistic in everything?
Igbo people are still Nigerians for crying out loud.

Ponzi schemes usually offer abnormally high and “guaranteed” ROI of more than 20% per annum and some go as far as promising to pay profits monthly. The attractive returns are used to lure investors to invest in their supposed products. However, even the most powerful and established financial investment companies never give their investors any guarantees.

If you promised high returns on your investments no matter what the circumstances are, it’s likely a fraud. There is no such thing as guaranteed returns in this world, even the money in your savings account, because there is always some degree of risk to every investment.

The funds which belong to over 500 investors was diverted to sponsor extravagant lifestyle, parties, exotic cars, luxury watches and real estates in Abuja, Lagos and PortHarcourt.
He added that the suspect confessed to the crime but pleaded to be given time to return the monies.

Some of the properties/items purchased with the diverted funds have been recovered as exhibits while the suspect will be charged to court as soon as the strike by Judiciary Staff Union of Nigeria (JUSUN) is called off.

The public should be wary of investment/portfolio managers that promise very high returns on investments.

21 year old dey fraud him parent's age mates.
Many people mumu for this country o!

Lastmankc:
These guys will make guys like us hustling legit look useless.My cousin that graduated not quite long was doing well and his mother started asking my mom whether I her child really graduated in school because the guy was super rich and I was still managing.
It later dawn on her when she was arrested along side with the husband that their so called son is into fraud.Till now,they haven't seen the guy.

So any body that’s rich is into fraud ...

Lastmankc:
These guys will make guys like us hustling legit look useless.My cousin that graduated not quite long was doing well and his mother started asking my mom whether I her child really graduated in school because the guy was super rich and I was still managing.
It later dawn on her when she was arrested along side with the husband that their so called son is into fraud.Till now,they haven't seen the guy.

No one is making you look useless but yourself

HenryDion:
What has Ponzi Scheme got to do with this report?

This young man is an internet fraudster under the cover of an investment manager.

This is impersonation and fraud and has nothing to do with Ponzi Scheme.

Ponzi Scheme is a mathematical pyramid that is designed to fail at some point.

Investors know this, and that is why they are warned to invest with bucks they can afford to lose.

As always, the early birds are always favoured.

But this, here, is fraud, cause I'm certain no investor made a dime in return!

Journalism is dead in Nigeria

Wow! You are totally brainless my friend

Bobxin:


Irritating!
Must you be tribalistic in everything?
Igbo people are still Nigerians for crying out loud.

the ones in nairaland said otherwise. That they are ipob pigs and everbody is Almajiris and afonja .so why would we accord them any respect

Typical African Parent for you

Always about comparing their kids with other People's Kid

Forgeting that Everyone with their own journey

Lastmankc:
These guys will make guys like us hustling legit look useless.My cousin that graduated not quite long was doing well and his mother started asking my mom whether I her child really graduated in school because the guy was super rich and I was still managing.
It later dawn on her when she was arrested along side with the husband that their so called son is into fraud.Till now,they haven't seen the guy.

Everybody be thief but na who dem catch be Criminal

rawtouch:


everybody na thief, but na who them catch be the thief

if it's too good to be true then it's probably not true

HenryDion:
What has Ponzi Scheme got to do with this report?

This young man is an internet fraudster under the cover of an investment manager.

This is impersonation and fraud and has nothing to do with Ponzi Scheme.

Ponzi Scheme is a mathematical pyramid that is designed to fail at some point.

Investors know this, and that is why they are warned to invest with bucks they can afford to lose.

As always, the early birds are always favoured.

But this, here, is fraud, cause I'm certain no investor made a dime in return!

Journalism is dead in Nigeria

It is a Ponzi Scheme. The 60% payout for existing investors is issued using funds from new investors.

The5DME:
Be like say i go r un this investment fraud too oh.

I alwsys knew you were a fraudster

dairykidd:
Na so one babe dey disturb me to come invest for their company.. 2 days ago I saw her WhatsApp status her boss (one small boy) she and two other girls partying inside water and sipping on some good stuff. I know say na people money dem just dey use celebrate so.. Any investment u can't control just forgetaboutit!

What about the ikwere son that owns MBA capital investment they should ask him our money back

Thegracefulness:
Like I always say, The desire to get even greater would be the end of a great man. Believe it or not, eventually, you’d realize.

The numerous investors, and the twenty-one year old organizer are very greedy. It wasn’t too long ago we celebrated this particular boy out here in my chambers. Dr. Akari used him for his Tuesday motivational speech. And now look where greed has gotten him—and the rest of them also.

How do you believe any business would guarantee you a sixty-percent profit in one month? Are you the Comptroller of Nigeria Customs?
I heard one man lamenting that they weren’t aware he was a small boy running the scheme.
And I asked; so you just throw in money carelessly without first properly rainchecking what you’re doing?

After una go say una no get money for this country. Continue dey disguise.

Check my profile for land in Igbo-Etche. Selling at a “really good price.”

The desire to be greater can never be the end of a great man, don't say that again. Those victims were just foolish and greedy enough to believe what they believed and got scammed.

The desire to be greater has been the number one contributor to the technological advancements in the world today. Go tell Elon Musk to stop trying to be better!

Let's be guided please.

Renforce:


Wow! You are totally brainless my friend

You're the brainless one if you can't refute with a constructive counter.

ednawande2580:
In what may be another case of Ponzi scheme, a 21-year-old man, who claimed to be an investment banking expert, has been arrested by Special Fraud Unit (SFU) of Lagos state police command for diverting investors’ funds worth over N2 billion.

The suspect named Dominic Joshua Ngene, who is the managing director of an investment company, Brisk Capital Limited, was arrested following petitions to the unit by several investors and after verified intelligence gathered on his activities including banking records emerged, DailyTrust reports.

Joshua, who is a native of Ebonyi state but was bred in Cross River state, operates from Uyo, Akwa Ibom State capital, according to police.

CP Anderson Bankole, who is in charge of Police Special Fraud Unit (PSFU), in a statement, said the suspect lured his victims on social media platforms such as Instagram, Facebook and Linkedin, as well as via newspaper publications.

In the publications, the suspect claimed to be a financial investor of repute and that he managed funds for over 100 individuals and companies.

The CP explained that the victims were conned to invest in Bitcoin, forex trading, real estate and oil and gas with a promise of prompt and accurate 60 per cent Return on Investment (ROI) per month on every sum invested, plus a guarantee of the invested principal.

It would be recalled that MDB in a recent report about how to easily detect Ponzi schemes stated that extraordinarily high “guaranteed” returns is used to attract investors.

According to the report;

Ponzi schemes usually offer abnormally high and “guaranteed” ROI of more than 20% per annum and some go as far as promising to pay profits monthly. The attractive returns are used to lure investors to invest in their supposed products. However, even the most powerful and established financial investment companies never give their investors any guarantees.
Read Also: Dubai Police Release Short Film ‘FoxHunt2’ On How Hushpuppi, Woodberry, Others Were Tailed And Arrested For Online Fraud (Video)

In addition;

If you promised high returns on your investments no matter what the circumstances are, it’s likely a fraud. There is no such thing as guaranteed returns in this world, even the money in your savings account, because there is always some degree of risk to every investment.
Bankole said;

The funds which belong to over 500 investors was diverted to sponsor extravagant lifestyle, parties, exotic cars, luxury watches and real estates in Abuja, Lagos and PortHarcourt.
He added that the suspect confessed to the crime but pleaded to be given time to return the monies.

Read Also: Financial Autonomy: Lawyers March To NASS As Judiciary Workers Begin Nationwide Protest (Photos)

Some of the properties/items purchased with the diverted funds have been recovered as exhibits while the suspect will be charged to court as soon as the strike by Judiciary Staff Union of Nigeria (JUSUN) is called off.

Bankole then advised the public to be wary of investment/portfolio managers that promise very high returns on investments.

https://mojidelano.com/2021/05/celebrated-21-year-old-investment-expert-who-promised-60-roi-to-investors-arrested-for-diverting-n2b/

Na the brother of this thief in nairaland shouting everyday. Ngene.. your days are numbered..

Arkmanbuddy:



The desire to be greater can never be the end of a great man, don't say that again. Those victims were just foolish and greedy enough to believe what they believed and got scammed.

The desire to be greater has been the number one contributor to the technological advancements in the world today. Go tell Elon Musk to stop trying to be better!

Let's be guided please.

To tell you the truth, the desire to be even greater would ruin the world one day. If it’s not imminent, then, at the long run, when countries are fighting countries with nuclear powers, when countries can sit at the comfort of their ruling seat and terminate the lives of millions of citizens with just one push of the button, then you’d find out that for every desire for greatness, there’s an insurmountable urge to self-destroy.

Hmmm

Mokason288:
I don’t know if it’s just me ooo

I don’t see any wrong the young man did

I only saw fooooolish Nigerian’s who just dashed the young man their hard earned money

How will someone promise you 60% ROI on investment and you’ll believe such?

How much is the total profit and how much is he the business owner supposed to make?

Well, the wrong thing he did was that he failed his promise of 60% ROI and he equally squandered their investment.

HenryDion:
What has Ponzi Scheme got to do with this report?

This young man is an internet fraudster under the cover of an investment manager.

This is impersonation and fraud and has nothing to do with Ponzi Scheme.

Ponzi Scheme is a mathematical pyramid that is designed to fail at some point.

Investors know this, and that is why they are warned to invest with bucks they can afford to lose.

As always, the early birds are always favoured.

But this, here, is fraud, cause I'm certain no investor made a dime in return!

Journalism is dead in Nigeria

That's exactly what he did, he couldn't meet up along the line anymore. I guess the report wasn't full.

ahiboilandgas:
according to Nairaland. The southern part of Nigeria is filled very educated and sophisticated citizen unlike the North. But a small boy of 21 can defraud highly educated people by just promising 60 r.o.i MMM chop their own,MBA chop now this .....education is beyond wearing suit and tie and copying white man up and down.

That's not all. What about Digital Farming Techs?

You can visit this thread and amuse yourself by streams of complaints https://www.nairaland.com/5358517/digital-agriculture-investment-platforms-options/630

May God help Nigeria!

kingthreat:
You guys are just making scammers and yahoo boys richer

Sorry there is no sense in your comment,how is defacing and exposing them to millions of people going to make them richer

HenryDion:


You're the brainless one if you can't refute with a constructive counter.

If ignorance is bliss then you my friend should be in Nirvanah.

maasoap:


Well, the wrong thing he did was that he failed his promise of 60% ROI and he equally squandered their investment.

If you dash me money wont I squander it ?

How the bloody helll do you expect me to give you 60% of your investment in this Buhari regime?

The young dude isn’t a magician

charleff512:
Don't promote shady investments like betting, HYIP, MLM, FOREX, binary options, and cryptocurrencies on Nairaland.
Yet Seun dey collect their money for advert

His a business man and his primary motive of any business is to make profit

dairykidd:
Na so one babe dey disturb me to come invest for their company.. 2 days ago I saw her WhatsApp status her boss (one small boy) she and two other girls partying inside water and sipping on some good stuff. I know say na people money dem just dey use celebrate so.. Any investment u can't control just forgetaboutit!

can you control stock?

Generation of thieves, kidnappers, rapists, ritualistic, anarchist is here!
Repent or await the wrath of God upon you all!

ahiboilandgas:
according to Nairaland. The southern part of Nigeria is filled very educated and sophisticated citizen unlike the North. But a small boy of 21 can defraud highly educated people by just promising 60 r.o.i MMM chop their own,MBA chop now this .....education is beyond wearing suit and tie and copying white man up and down.

Truth is, you can't dupe dumb people. Dumb people are not smart enough to take the "hook". You will be talking finance to them and it will be sounding like ancient Greek to them. Them go just dey look you dey scratch ass smell finger.

Frontail:
.. Too many Invictus

Bad boy

ahiboilandgas:
according to Nairaland. The southern part of Nigeria is filled very educated and sophisticated citizen unlike the North. But a small boy of 21 can defraud highly educated people by just promising 60 r.o.i MMM chop their own,MBA chop now this .....education is beyond wearing suit and tie and copying white man up and down.

Haha they will come for you