In agriculture anything above 15% per year is bound to fail one way or the other, plus people are also forgetting that these guys are investing your money in a volatile environment were herdsmen and their cattle are destroying crops, farm thieft, banditry and a poorly structured system abounds...plus, the more the money, the harder it is to manage.. it's easier to turn #50 into #100 but far more difficult to do the same with #500million, it's why most of these investment schemes are usually profitable at the beginning, it's why I invest at their very early stage and pull out after first interest payment. Anyways these scams will continue to go on simply because of the basic nature of most humans; Greed and Foolishness.

JohnSin97:
In agriculture anything above 15% per year is bound to fail one way or the other, plus people are also forgetting that these guys are investing your money in a volatile environment were herdsmen and their cattle are destroying crops, farm thieft, banditry and a poorly structured system abounds...plus, the more the money, the harder it is to manage.. it's easier to turn #50 into #100 but far more difficult to do the same with #500million, it's why most of these investment schemes are usually profitable at the beginning, it's why I invest at their very early stage and pull out after first interest payment. Anyways these scams will continue to go on simply because of the basic nature of most humans; Greed and Foolishness.

Boss 15% na high side, agriculture is from 5%-9% or 10% at most

The day I saw this Eatrich advert I knew those people were scam. These people don't even own a centimeter of land yet they advertise non-existent farm. There's this other one out there "Titan Rice". I doubt those people even have a farmland for rice. Their own go soon burst soon. When will Nigerians learn.

JohnSin97:
In agriculture anything above 15% per year is bound to fail one way or the other, plus people are also forgetting that these guys are investing your money in a volatile environment were herdsmen and their cattle are destroying crops, farm thieft, banditry and a poorly structured system abounds...plus, the more the money, the harder it is to manage.. it's easier to turn #50 into #100 but far more difficult to do the same with #500million, it's why most of these investment schemes are usually profitable at the beginning, it's why I invest at their very early stage and pull out after first interest payment. Anyways these scams will continue to go on simply because of the basic nature of most humans; Greed and Foolishness.

You're right but the truth is these people didn't invest the money into any farm. They only pay out from the pool of money that they get.

Gullible Nigerians

Nellsworld:

Boss 15% na high side, agriculture is from 5%-9% or 10% at most

I own pepper farms in the north and south west. 15% a year isn't much if combined with processing and it's well structured.

yemi1504:


But the interest is quite low enough to actually deceive people! I was almost deceived too! Facebook is also culpable for this for those horrible advertisements they allowed on their platform during that period.

How is 40% ROI low?

See as una money don enter bush... There's nothing you people can do... Una money go. ... Just go and lick your balls peacefully

naptu2:
Investors in Eatrich Farms, an agricultural investment company, are up in arms because they allege that they have invested a lot of money in the company's schemes, yet they have not been paid since June. They have attacked and blamed social media influencers who they claim convinced them to invest in the scheme. Some social media influencers have dissociated themselves from the scheme while some employees of the company have also complained that they have not been paid.


Here are some of the claims of the company, the complaints of investors and the disclaimers by social media influencers.

These Agrotech Investments are nothing but FRAUD.
They deceived innocent Nigerians, using Social Influencers, Popular TV programs like Babajide Otitoju's 'Journalist Hangout' on TVC Television (Yes, l saw the advert of SGL Farms, another 419 AgriTech advertised many times during their broadcast; I wonder how much he was paid to help deceive and defraud Nigerians, by the CEO of SGL Farms, one Seun Adegoke?), knowing that Nigerians will fall for their fraud, with such names and programs airing the on it.

The DSS, EFCC and the SEC must not just abandon Nigerians to their fate, they must arrest the CEO's of these Fraudulent Fars, if Young Nigerians are not to lose faith in the Buhari Governments directive that young people shoudl embrace Farming.

I mean, they embraced it with all their savings and one Crook sits somewhere, defraud them and is enjoying the money to live a larger-than-life lifestyle with NO Fear pf repercussions! Are we in a lawless society and banana Republic?
If a Company goes into Contract with an Investor, it should pay up when the time comes except it is saying that it was all a ruse and they actually set out to defraud Nigerians, which appears to be the case

We are talking about Billions of Naira here!
Govt Agencies mentioned should open a Register where anyone defrauded can REGISTER, with Proof og the Transactions, so that Govt can go after all these Criminals, Free their assets, Money in banks (both local and foreign) and chase them out with InterPol. since some of them have run abroad but we have their dossier.

Those defrauded should also not relent, even if it means carrying Placard and protesting at the National Assembly, so that their Political Representatives can move Security Agencies to Action.
They should also expose the whereabouts of these Criminals who ran such Ponzi Scheme and be ready to peacefully-picket their House (with Police Permission for Assembly), wherever they live so that their neighbours can know they are fraudsters

NB: Ofcourse, you should expect the Fruadsters and their Paid agents on Nairaland and other Social Media outlets to try and discourage you from acting, it is all part of the Script.

funshint:

You're right but the truth is these people didn't invest the money into any farm. They only pay out from the pool of money that they get.

How sure are you? Am not saying these people probably aren't Ponzi scammers but I've seen lots of investment companies go bust because of the volatile business environment in Nigeria. You really can't say....but it's still possible you're right.

funshint:
The day I saw this Eatrich advert I knew those people were scam. These people don't even own a centimeter of land yet they advertise non-existent farm. There's this other one out there "Titan Rice". I doubt those people even have a farmland for rice. Their own go soon burst soon. When will Nigerians learn.

About 3 months ago, I told my wife that Titan will soon delve into estate business she argued with me that it isn't possible.
This afternoon, she called to inform me of a radio advert by Titan advertising plots of land for sale in different locations. I told her: learn to believe your prophet.

People have still not learnt. These are yahoo plus.

Cosmatikka:
Eatrich don eat people money

Why has EFCC not arrested Maxwell Odum of MBA forest.
That guy wrecked people's lives.
Naso my #2M take go.

God go punish all these ways investors wrecking people's lives

Your Money is not gone!
If you have Documents pertaining to the Fraud, you need to write a Petition to the EFCC, SFU and SEC, back it up with your Documents (copies) and Petition the IGP, through the State Commissioner of Police.
Eventua;;y, you will get Justice.
You can also start a Class Suit Action in Court, with other Investors that were defrauded.
This Eatrich Farm, SGL Farms and others are c;ear cases of FRAUD or Obtaining by Deceit

Some gullible people will not still hear word. When MMM dealt me a big blow since then I refuse to listen to any Pim from anybody regarding investment.

Cosmatikka:
Eatrich don eat people money

Why has EFCC not arrested Maxwell Odum of MBA forest.
That guy wrecked people's lives.
Naso my #2M take go.

God go punish all these ways investors wrecking people's lives

It would have been better if you had given the #2M to Gumi to settle some bandits!

Kessythegeek:


What response did you get? You can try it on the website.

Mehn
It worked now o

JohnSin97:


I own pepper farms in the north and south west. 15% a year isn't much if combined with processing and it's well structured.

Now u saying processing, those guys just said production which we know it is not possible to even get 15% only on production

izubext007:
EFCC will not go after this registered fraudsters

EFCC warned you but no, you insulted them, they want make we die poor, e no go better for them. You said this government no one make people chop again, now they don japa you dey blame efcc. same story with mmm. You no get brain reason say this one na scam? Una go come nairaland come dey form educated & informed in reality, there is no difference between all of you self acclaimed educated Nigerians and Almajiris in the north, that's fact. Na the same soak away water carry all of you they go. Spit!

BeboNGN:
See as una money don enter bush... There's nothing you people can do... Una money go. ... Just go and lick your balls peacefully

If a family member tell them to invest in his/her business, they go say, dey no get, but they get millions to invest in an online farm

They had massive signboards all over lagos state, right infront of big banks...


Guys the federal and state government collude with these ponzi thieves

It's unwise to invest in anything farm...not even now that Fulani herders hv taken over so many farmlands in the west and south.

Who will want to be killed or kidnapped going to to farm!!!!

TOPCRUISE:

It's obvious that N2m is nothing to you as you are opening teeth ontop this thread

I've managed to leave the corntree, so I now see more than that monthly, so I've left bygones to be bygone.
Na God go punish the man for me

Guyman02:
You spend years with all the accruing risks working to raise money and have savings for the future, then suddenly someone you have never met tells you about an investment that will transform your life with quick returns, they send you pictures and videos of luxury lifestyle you can get just by entrusting your hard earned money to them and they end up scamming you.
Tomorrow another one will spring up with a different package and people hoping to get rich quick keep falling for it.

In Abuja the Hajia in Famzhi Investment Company used the same scheme to collect billions from people.

What they do is to tell people that they use your money to invest in agriculture with high return, they put up bill boards across major roads, they will even show you a 1000 hectares farm of rice with a value of N10M, meanwhile they have collected N1B from 100,000 for the same farm while paying people using Ponzi scheme and claiming it's proceed from harvest until they can no longer pay and they close shop and flee with people's money, they will sell the farm without their subscribers been aware.

I have been surviving on my savings after I lost my job because I refused to invest my pay off into any of the many schemes flying all around while doing little physical business and hoping for a breakthrough soon. Even my wife thought that I am not ambitious because I refused to invest in these scams, today she has come to her senses after seeing people crying over their loss while retaining fake hope this
I don't have my money hanging on any computer screen that I can't access whenever I need it.

Actually it shouldn't be so.
These guys have made it far more difficult for genuine investors to access credit / loans.

Another concern is that many Nigerians no longer know how to differentiate between " too good to be true investment opportunities" with unrealistic ROI projections & the rational returns from regular businesses.

I feel your point about ambition too especially when those around you aren't as perceptive as you are for these schemes.

May God help us.

Nellsworld:

Now u saying processing, those guys just said production which we know it is not possible to even get 15% only on production

Some crops will give you 15% a year even without processing, but it may be different when done on a very large scale.

MikeMicheal:
If you think most Nigerians are smart, you are a fool.

Rebrand another ponzi scheme and you will see how Nigerians will rush it.
All you need is pay one or two greedy famous people for publicity.

It happens overseas as well. Not only Nigerians.

Na so one person say make I come invest #6,500 say I go get #4m in two months, say if e no work at least na only #6,500 I go lose. The way I take look am ,

Cosmatikka:

I've managed to leave the corntree, so I now see more than that monthly, so I've left bygones to be bygone.
Na God go punish the man for me

Lol. Hope you were not one of those cursing people who were warning you on the old MBA thread. Nairaland should not have closed that thread.

Curious345:
They had massive signboards all over lagos state, right infront of big banks...

Guys the federal and state government collude with these ponzi thieves

Yes, I believe so as well. Fear Govt. MBA was thriving they didn’t say anything until payment became an issue.

nenyeRitta:
all this affiliate marketing schemes always end in tears

This particular scheme is not affiliate marketing.

Has nothing to do with A.M.
Before you say they are all the same, consider that cooperative investments (which is what this really is) has been around for decades & still exists in virtually all countries including Nigeria.

Think ETFs and REITs sold in the stock markets.
The problem is unscrupulous people & GREED + Lack of due diligence (usually spurred by greed sometimes).

May God help us.

Nairobi33:

EFCC warned you but no, you insulted them, they want make we die poor, e no go better for them. You said this government no one make people chop again, now they don japa you dey blame efcc. same story with mmm. You no get brain reason say this one na scam? Una go come nairaland come dey form educated & informed in reality, there is no difference between all of you self acclaimed educated Nigerians and Almajiris in the north, that's fact. Na the same soak away water carry all of you they go. Spit!

You are either an agent of these Fraudsters or you are just out to show bile against the Investors!
Yes, EFCC warned against MMM back then but the EFCC did not warn or say anything about "Investing in Agric Farms", something which ordinarily, the Govt is even encouraging.

But here is the difference:
Fraudsters dont come up and say: "Look, l am a fraudster, i want to defraud you".
They would trick you, deceive you and falsify documents/information, to make it look genuine and convince you to part with your money.

If actually Fraudsters like[b] SGL Farms or Eatrich farm[/b] were into farming with the Billions they got from people, they will certainly be able to pay back their Investors, Worst case, they would plead to spread the ROI over longer period but the Capital will be repaid as at when due.
But these Fraudsters tricked people, they used people that you trusted in the Society (as influencers), they advertised in reputable programs on reputable TV stations!
Imagine that the acclaimed program, Journalist Hangout, anchored by no less a person than Babajide Otitoju, was advertising for SGL Farms, during their Commercial breaks, would anyone have doubt that such adverts are genuine, moreso, it is an INVESTMENT IN FARMING, not importation, not Crypto Currency or some fancy stuff!

This is why l am annoyed that Govt is not doing anything about this.
Can you do this in America and the FBI will not knock on the door of such fraudster like SEUN ADEGOKE of SGL Farms?
A good Govt must protect its people, if just to deter such Fraudsters and not necessarily to assist those defrauded

Person use Cannabis leaf do company logo, una no fear wetin e go take una money do?
Make Dem no worry, the next investment scheme go soon open, for them to be scammed again