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SEC Disowns MBA FOREX Investment, Calls It A Ponzi Scheme - Business (4) - Nairaland

Nairaland ForumNairaland GeneralBusinessSEC Disowns MBA FOREX Investment, Calls It A Ponzi Scheme (43424 Views)

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Re: SEC Disowns MBA FOREX Investment, Calls It A Ponzi Scheme by 2cribz: 8:59am On Dec 25, 2020
Its always fast monwy well too bad for me thisbyear no pay me,i only made 9000$. I feel so poor
Re: SEC Disowns MBA FOREX Investment, Calls It A Ponzi Scheme by Wartsnigeria: 9:02am On Dec 25, 2020
Sermwell:
Just be wise in this life! My target saving this year was at least #25m. By September I already saved #18m. One useless cousin of mine came to preach MBA forex to me, I just laughed. He pleaded with me to lend him #1m to invest in MBA forex which I did.
Now he's regreting. people sha!!
Coincidentally the amount was my target this year unfortunately I couldn't save up to half, thank God I was able to save 10m despite the uncertainties.
Re: SEC Disowns MBA FOREX Investment, Calls It A Ponzi Scheme by OyinO: 9:03am On Dec 25, 2020
The Nigerian people especially the Youths have been so deprived, used, abused, marginalised, tossed up and down, mesmerized, promised and fooled, deceived and oppressed into perpetual poverty of mind and body by Religious Leaders, Pastorpreneurs and their counterparts - the HOMOPOLITICUS, so much so that they have become the world's most vulnerable group of people. Mesmerise and embezzle their hard earned cash today, they'll fall for another stunt the next day morning. Complete blinded, deafened and dumbed down fellowsheeps and followsheeps WHO WALK BY FAITH AND NOT BY SIGHT, and thus oftentimes fall into a dangerous ditch.
Re: SEC Disowns MBA FOREX Investment, Calls It A Ponzi Scheme by daddytime(m):
Make una come locate the guy massive estate for Abuja.

The guy use una money dey flex for Abuja with over 10 police escorts. Every eeekend na steady private shows with either Davido or Timaya entertaining him and his harem.



Lol
Re: SEC Disowns MBA FOREX Investment, Calls It A Ponzi Scheme by candygist: 9:07am On Dec 25, 2020
Sermwell:
Just be wise in this life! My target saving this year was at least #25m. By September I already saved #18m. One useless cousin of mine came to preach MBA forex to me, I just laughed. He pleaded with me to lend him #1m to invest in MBA forex which I did.
Now he's regreting. people sha!!
Boss, what business are you into please, I will like to know more. I need that kind of money in my life. Thanks
Re: SEC Disowns MBA FOREX Investment, Calls It A Ponzi Scheme by allstarfestus: 9:08am On Dec 25, 2020
Why will nigeria government , allow something that is illegal to go on for so long .... till more people get scammed
Re: SEC Disowns MBA FOREX Investment, Calls It A Ponzi Scheme by User09: 9:10am On Dec 25, 2020
emmanuelewumi:
And Dangote did not go into this line of business, banks don't even make 40% from their forex Investments. Forex trading contributes about 15% of the total revenue of most banks.
Not True.

Far Less than that
Re: SEC Disowns MBA FOREX Investment, Calls It A Ponzi Scheme by sonofElElyon: 9:16am On Dec 25, 2020
You may also have cause to regret if he is unable to repay the loan!

Sermwell:
Just be wise in this life! My target saving this year was at least #25m. By September I already saved #18m. One useless cousin of mine came to preach MBA forex to me, I just laughed. He pleaded with me to lend him #1m to invest in MBA forex which I did.
Now he's regreting. people sha!!
Re: SEC Disowns MBA FOREX Investment, Calls It A Ponzi Scheme by pyro62(m): 9:18am On Dec 25, 2020
Sermwell:
Just be wise in this life! My target saving this year was at least #25m. By September I already saved #18m. One useless cousin of mine came to preach MBA forex to me, I just laughed. He pleaded with me to lend him #1m to invest in MBA forex which I did.
Now he's regreting. people sha!!
Pictures please
Re: SEC Disowns MBA FOREX Investment, Calls It A Ponzi Scheme by Princewill1(m):
xscoffy:
They are still defending that it never crashed oooooo.

Greed and poverty won't allow Nigerians to be wise.
Imagine someone calling Ponzi an INVESTMENT.

All this schemes will never work in Nigeria anymore. I once saw some complaining he invested 55mil in MBA. I was like.... "What level of greed is this"?? A company u ain't the owner n anything can happen at any moment. He would have easily used d money to go into properties. If eventually he doesn't get BK his money from MBA, what's he gonna dohuh

My friend even used his life to convince me around June this year to go n invest with MBA, I refused. He did everything possible n I refused. I asked him several questions. If MBA claims they use a robot which helps them monitor d market well n avoid loses, what happens if almost everyone in d forex biz got that same robot? You think d forex companies will happily be running a biz without making profits ??

Forex is equivalent to bet. There is no single difference. Both are profit n loss biz. Now ask urself this question.. if bettors are always winning every game they stake, do u think bookies will continue emerging from no where on daily basis? Bookies are fully aware they are gaining more than the bettors, therefore will continue with their biz n can't close down. This is same thing applicable to d so called forex. If u think it's a joke, them go n learn n start investing. U will end up understanding this analysis.

Those into forex will always find a way to convince u it's better than bet. I have been into both n u can't convince me. The relationship between both is that LOSSES are both involved. Forex traders will always wanna proove to be legit and legal n see bettors as sinful gamblers whereas both parties are in d business of GAMBLING.


MBA was simply into Ponzi. They were using the new investors money to pay the old investors,d moment d newbies influx got low,they started having issues paying again. Issa simple LOGIC
All businesses that involves speculation example: stock trading,sports betting, Forex trading, binary options, crypto currencies are all the same, nothing different. Just a change of name.

It's stupidity to call sports betting gambling and Forex trading investment.

Gambling can simply be defined as 'risking money to make more money.'

So in all businesses listed above it all involves risking money to make more money. All the businesses above are all in the same category.
Re: SEC Disowns MBA FOREX Investment, Calls It A Ponzi Scheme by emmanuelewumi(m): 9:21am On Dec 25, 2020
allstarfestus:
Why will nigeria government , allow something that is illegal to go on for so long .... till more people get scammed
Government warned them about a year ago
Re: SEC Disowns MBA FOREX Investment, Calls It A Ponzi Scheme by johhbekeboh09(m): 9:23am On Dec 25, 2020
Tadeknkeepcalm:
grin grin grin
LOL See mumu dem... MBA wise pass una Una sense don deactivate
Re: SEC Disowns MBA FOREX Investment, Calls It A Ponzi Scheme by gassbee: 9:24am On Dec 25, 2020
Nice one, they need to learn d hard way
Re: SEC Disowns MBA FOREX Investment, Calls It A Ponzi Scheme by Dliquidmetal(m): 9:25am On Dec 25, 2020
xscoffy:
They are still defending that it never crashed oooooo.

Greed and poverty won't allow Nigerians to be wise.
Imagine someone calling Ponzi an INVESTMENT.

All this schemes will never work in Nigeria anymore. I once saw some complaining he invested 55mil in MBA. I was like.... "What level of greed is this"?? A company u ain't the owner n anything can happen at any moment. He would have easily used d money to go into properties. If eventually he doesn't get BK his money from MBA, what's he gonna dohuh

My friend even used his life to convince me around June this year to go n invest with MBA, I refused. He did everything possible n I refused. I asked him several questions. If MBA claims they use a robot which helps them monitor d market well n avoid loses, what happens if almost everyone in d forex biz got that same robot? You think d forex companies will happily be running a biz without making profits ??

Forex is equivalent to bet. There is no single difference. Both are profit n loss biz. Now ask urself this question.. if bettors are always winning every game they stake, do u think bookies will continue emerging from no where on daily basis? Bookies are fully aware they are gaining more than the bettors, therefore will continue with their biz n can't close down. This is same thing applicable to d so called forex. If u think it's a joke, them go n learn n start investing. U will end up understanding this analysis.

Those into forex will always find a way to convince u it's better than bet. I have been into both n u can't convince me. The relationship between both is that LOSSES are both involved. Forex traders will always wanna proove to be legit and legal n see bettors as sinful gamblers whereas both parties are in d business of GAMBLING.


MBA was simply into Ponzi. They were using the new investors money to pay the old investors,d moment d newbies influx got low,they started having issues paying again. Issa simple LOGIC
what business records no loss? You said you been in both forex and bet and its same,I no dey argue o but theres a difference my brother maybe you prolly was in forex for a couple months but I've been in this shit for atleast 2years and most people that compare forex to bet have little knowledge and experience in this field.
Re: SEC Disowns MBA FOREX Investment, Calls It A Ponzi Scheme by Obasanjoslim: 9:29am On Dec 25, 2020
speakeroftruth:
Dennis Naku, Port Harcourt



https://punchng.com/rivers-forex-investors-panic-over-operators-alleged-collapse/?amp=1
when will Nigerian be wise, by this time we should have learnt from MMM, but people still go ahead to invest in Ponzi scheme..some foolish Nigerian even go ahead to borrow from bank and microfinance to invest in this useless program God help our people with the spirit of greediness
Re: SEC Disowns MBA FOREX Investment, Calls It A Ponzi Scheme by dimeji1(m): 9:29am On Dec 25, 2020
So we still have some idiots in this country. Merry Christmas family
Re: SEC Disowns MBA FOREX Investment, Calls It A Ponzi Scheme by southpole: 9:30am On Dec 25, 2020
Zimri:
What angers me is when they use the word 'invest'.

Invest what? grin
The right word is "gamble"
Re: SEC Disowns MBA FOREX Investment, Calls It A Ponzi Scheme by Okoroawusa: 9:31am On Dec 25, 2020
Nigerians will never learn. Some will still blame Buhari for their greed.
Re: SEC Disowns MBA FOREX Investment, Calls It A Ponzi Scheme by Infinitex: 9:33am On Dec 25, 2020
adonainana:
Have noticed a pattern

Whenever there is a pending recession or a current recession in Nigeria, a lot of Ponzi schemes spring up,

Just like in late 2016 and 2017, it was only MMM, there were like hundreds, MMM was just the biggest because it had billions of naira in it.

Forex is real and sometimes just like any investment the value of your investment can go up and go down, this is what people fall for and the fund managers too never are truth full about the whole thing.

Apart from Nigeria stock exchange, all other investment schemes in Nigeria are Ponzi run alike. They simply subtitute funds of new members for old members. If it’s years or months Kasala will eventually burst

Anyone please I run a hotel business and I’m looking for someone to invest in my hotel business, I make 600,000 naira in sales every month ( I have my books of records for
Anyone to see and view )

I need investments above 50k . I can easily offer a 30 percent return on investment

Please my hotel business is a real
Business and is located on the expressway here in Ibadan

Please reply to this text so we can publicly discuss everything on here for everyone to see

Please help rich people in the house
600,000 in sales. Can you expanciate of that. Also what do you need investors for. And lastly where in Ibadan is your hostel. Are you the owner.
Re: SEC Disowns MBA FOREX Investment, Calls It A Ponzi Scheme by dimeji1(m): 9:37am On Dec 25, 2020
Dliquidmetal:
what business records no loss? You said you been in both forex and bet and its same,I no dey argue o but theres a difference my brother maybe you prolly was in forex for a couple months but I've been in this shit for atleast 2years and most people that compare forex to bet have little knowledge and experience in this field.
I believe you predict outcome in both and you invest your money with hope that your prediction will come true.
So both are betting games. I invested in forex in 2007 and I know it is all about prediction of where the graph may go(either up or down)
Re: SEC Disowns MBA FOREX Investment, Calls It A Ponzi Scheme by Nobody: 9:37am On Dec 25, 2020
Dliquidmetal:
what business records no loss? You said you been in both forex and bet and its same,I no dey argue o but theres a difference my brother maybe you prolly was in forex for a couple months but I've been in this shit for atleast 2years and most people that compare forex to bet have little knowledge and experience in this field.
I know much persons like u will still come under this tweet. Defend any shit u wanna defend, bet n forex is absolutely same. It's simple. Only those that can't been in both can be deceived.

This is same language that lures pple in n hardly end well. Ur trying to defend forex now.. lemme give u money to trade for me n make profit., We will still have to come BK here to settle scores.
Re: SEC Disowns MBA FOREX Investment, Calls It A Ponzi Scheme by Nobody: 9:40am On Dec 25, 2020
dimeji1:
I believe you predict outcome in both and you invest your money with hope that your prediction will come true.
So both are betting games. I invested in forex in 2007 and I know it is all about prediction of where the graph may go(either up or down)
u de mind themhuh Forex traders got such a sweet mouth to lure u in, give him money to trade for u or ask u to teach u how he makes his profit, it will still end in tears
Re: SEC Disowns MBA FOREX Investment, Calls It A Ponzi Scheme by Sermwell(m): 9:41am On Dec 25, 2020
Wartsnigeria:
Coincidentally the amount was my target this year unfortunately I couldn't save up to half, thank God I was able to save 10m despite the uncertainties.
Wow!! Good for you bro. I even thought the lockdown will be a hindrance. I was able to save #23m as at two weeks ago!! Hope to do better next year !✌
Re: SEC Disowns MBA FOREX Investment, Calls It A Ponzi Scheme by Nobody: 9:42am On Dec 25, 2020
Princewill1:
All businesses that involves speculation example: stock trading,sports betting, Forex trading, binary options, crypto currencies are all the same nothing different. Just a change of name.

It's stupidity call sports betting gambling and Forex trading investment.

Gambling can be simply be defined as risking money to make more money.

So in all businesses listed above it all involves risking money to make more money. All the businesses above are in the same category.
Those forex traders can make u feel like a sinner. This is d prob I have with them. Full of shit. Tell u he makes this and that. Give him money to trade for u and wait for stories.
Re: SEC Disowns MBA FOREX Investment, Calls It A Ponzi Scheme by Cyberterror: 9:45am On Dec 25, 2020
Ponzi schemes usually benefits those who invested early. When you notice that any money doubling scheme has reached two years, run far!
Re: SEC Disowns MBA FOREX Investment, Calls It A Ponzi Scheme by ChrisLegacy007: 9:46am On Dec 25, 2020
3months ago i told a friend not to get involved in this same MBA n' he started preachin' in the Robert Kiyosaki now it has ended in premium tears..
Re: SEC Disowns MBA FOREX Investment, Calls It A Ponzi Scheme by Twelfthman: 9:48am On Dec 25, 2020
My ex pestered me so much to invest in these stuff lol I I really don't trust these kinda stuff so I told her no. She got angry few months later she called me and told me about how the one man was about to run away with investors money and now she in debt and the suppose man at efcc custody. A lot of people had invested in the scam company through her.

Sermwell:
Just be wise in this life! My target saving this year was at least #25m. By September I already saved #18m. One useless cousin of mine came to preach MBA forex to me, I just laughed. He pleaded with me to lend him #1m to invest in MBA forex which I did.
Now he's regreting. people sha!!
Re: SEC Disowns MBA FOREX Investment, Calls It A Ponzi Scheme by Juliearth(f): 9:50am On Dec 25, 2020
Sermwell:
Just be wise in this life! My target saving this year was at least #25m. By September I already saved #18m. One useless cousin of mine came to preach MBA forex to me, I just laughed. He pleaded with me to lend him #1m to invest in MBA forex which I did.
Now he's regreting. people sha!!
His loss is also your loss because I doubt if he would refund you.
Re: SEC Disowns MBA FOREX Investment, Calls It A Ponzi Scheme by Geovanni412(m): 9:50am On Dec 25, 2020
Flango:
If they were denied by SEC, what stops the EFCC and the so called SARS from going after them?

We have to be proactive in this country. I understand the victims were gullible, but then, they are still citizens of the country, and it is the country's responsibility to try as much as she can to protect them.
When the notice SEC put out on MBA Forex being a scam came out....some Nigerians were commenting that SEC should tell them the genuine investment to put their money in and that MBA Forex was not a scam. EFCC can only prosecute a case when a complaint is laid before them- and to the best of my knowledge, no one complained of being scammed by MBA Forex till the bubble burst this ember months. Govt did their bit. Nigerians need to stop being greedy-
Hedge fund companies that make 20 percent profit in a year rejoice that they had a great year, so how can a miniscule company be offering you 14 percent per month. Haba!
Re: SEC Disowns MBA FOREX Investment, Calls It A Ponzi Scheme by Nobody: 9:51am On Dec 25, 2020
Sonyboom:
You too sabi
But I like how they teach fools to be wise.
If you tell Nigeria not to invest in anything Forex them go do like say na dem sabi pass.

I am yet to see any rich personality common who claim he became rich via Forex trading.
I have made millions from forex and yea i dont run a ponzi or sell seminars
Re: SEC Disowns MBA FOREX Investment, Calls It A Ponzi Scheme by brightk(m): 9:55am On Dec 25, 2020
This same punch published a story concerning the ceo of mba forex.[url]
https://www.google.com/amp/s/punchng.com/nigerias-forex-market-largely-untapped-mba-boss/%3famp=1
[/url]
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