₦airaland Forum

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CHARLES PONZI

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Charles Ponzi became noted in 1920, in Boston, for his supposed arbitrage scheme, which ultimately proved to be merely a masquerade for paying off early investors with the deposits of later investors. The Ponzi Scheme is named after him. He claimed he would double investors' money in 90 days through a bizarre plan to buy and resell international postal-reply coupons.

"Ponzi collected more than $8 million from about 30,000 investors, in just seven months, before the scheme collapsed. He served fourteen years in prison, was deported from the United States, and spent the rest of his life vainly seeking ways to provide restitution for the losses of his investors."

2.

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BERNIE MADOFF

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(Not a Ponzi schemer)
The Madoff investment scandal defrauded thousands of investors of billions of dollars.

The amount missing from client accounts was almost $65 billion, including fabricated gains. The Securities Investor Protection Corporation (SIPC) trustee estimated actual losses to investors of $18 billion. On June 29, 2009, Madoff was sentenced to 150 years in prison, the maximum allowed.

3.

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SERGEI PANTEELEVICH MAVRODI

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МММ was a Russian company that perpetrated one of the world's largest Ponzi schemes of all time. By different estimates from 5 to 40 million people lost up to $10 billion. The company started attracting money from private investors, promising annual returns of up to 1,000%. It is unclear whether a Ponzi scheme was the initial intention, as such extravagant returns might have been possible during the Russian hyperinflation in such commerce as import-export.

4.

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RON REWALD

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Between 1978 and 1983, Ron Rewald ran an investment firm in Hawaii. The firm declared bankruptcy in 1983 and was revealed to have been a Ponzi scheme which defrauded over 400 investors of more than $22 million. Rewald claimed that he had been operating the firm as a front for the U.S. Central Intelligence Agency. Rewald was convicted and sentenced to 80 years in prison; he was paroled in 1995.

5.

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IOAN STOICA

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In Romania, between 1991 and 1994, the Caritas scheme run by the "Caritas" company of Cluj-Napoca, owned by Ioan Stoica promised eight times the money invested in six months. It attracted 400,000 depositors from all over the country who invested 1,257 billion lei (about US$1 billion) before it finally went bankrupt on August 14, 1994, having a debt of US$450 million. The owner, Ioan Stoica, was sentenced in 1995 by the Cluj Court to a total of seven years in prison for fraud, but he appealed and it was reduced to two years; then he went on to the Supreme Court of Justice and the sentence was finally reduced to one year and a half

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GREATER MINISTRY INTERNATIONAL [this wan na church ]

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From 1993 until 1997, a church named Greater Ministries International in Tampa, Florida, headed by Gerald Payne bilked over 18,000 people out of $500 million. Payne and other church elders promised the church members double their money back, citing Biblical scripture. However, nearly all the money was lost or hidden away. Church leaders received prison sentences ranging from 13 to 27 years.

Na wa ooo!

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SWISS FUND/SWISS CASH

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In October 2006, in Malaysia, two prominent members of society and several others were held for running an alleged scam, known as SwissCash or Swiss Mutual Fund (1948). SwissCash offered returns of up to 300% within a 15-month investment period. Currently, this HYIP investment is offered to citizens of Malaysia, Singapore, and Indonesia. It claimed investors' funds were channeled to business activities ranging from oil exploration to shipping and agriculture in the Caribbean. The company claims to be operating out of New York City and incorporated in the Commonwealth of Dominica.

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YILISHEN TIANXU

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The Yilishen Tianxi Group was a Chinese company established in 1999 which sold traditional Chinese medicine products made from ants. More than one million people invested money (Over $1.2billion) in the company, purchasing and raising boxes of ants with the promise that they could sell the ants back for a profit, before it was exposed as a ponzi scheme in 2007.


LOL

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UNIQUE FINANCE [Still existing ]

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Since 2016, a Ponzi scheme called "Unique Finance" have been operating in Iran, Iraq, Afghanistan and Yemen under the guise of investment in Nasdaq, The company claims to be based in Switzerland, Finma have issued a warning about it. Till date, it continues to exist as no government has raised an eyelid against it.

Oga, what are you cooking na

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[quote][/quote]

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All these LPV and Forsage guys no dey allow person rest for Whatsapp.

Another one is in Nigeria right now, they call it Crowd1 people should be careful with it

Pennywise
Crowd1
200tron
Bank of tron
Fx farm

Add the rest.

Mainmanpadi:
Another one is in Nigeria right now, they call it Crowd1 people should be careful with it

I’m telling you, and that penny wise blah blah
Forsage and so on

Mainmanpadi:
Another one is in Nigeria right now, they call it Crowd1 people should be careful with it

crowd1 is not ponzi

If you are not greedy, you have no business being a victim to such scams.

Zimri:
3.

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МММ was a Russian company that perpetrated one of the world's largest Ponzi schemes of all time. By different estimates from 5 to 40 million people lost up to $10 billion. The company started attracting money from private investors, promising annual returns of up to 1,000%. It is unclear whether a Ponzi scheme was the initial intention, as such extravagant returns might have been possible during the Russian hyperinflation in such commerce as import-export.

Our own Mavrodi

Lemme go and check my mavros again sef

What of UMANA....?

Almost A Century Now. Same Idea, Different Formats. People Are Still Falling For It.


Shogun’ Di Ogoji Is Not A Good Business To Invest On.

Till tomorrow people would still invest

I keep asking myself, why are people always defrauded, even if mmm comes back again, people will still play

Make i pack my leggodise Benz here, too many cash multiplying scheme these days

We now have crowd1, and believe me you, people are still falling for it,

Some one introduced me to it,so I had to go research about them and one of the ways they invest the money is through online gambling..
Like are you guys mad or what!!!!

What about MBA scheme. It's the in thing now. Deposit 360k and get 15% interest every month lol

Hmmm people I know are now running to crowd 1 it will surely go same way...but I'm tempted to join shaa atlist b4 e crash

vivalavida:
Our own Mavrodi

Lemme go and check my mavros again sef

Mavro day... Tuesday and Thursday

YoungDaNaval:
Mavro day... Tuesday and Thursday

I dey tell u
Na by 4.30am I dey check my mavro