Before the all waited and inevitable crash of MMM Nigeria, the digital Ponzi Scheme, Givers Forum, an MMM copycat Ponzi Scheme might bite the dust anytime soon.
Givers Forum is nothing but a copy and paste version of MMM. As a matter of fact, a PageOne Ponzi Scheme analyst said founders of Givers Forum are disgruntled MMM members who started the scheme in Nigeria.
The similarities it shares with MMM might not be its downfall but its amorphous and scattered structure that makes it susceptible to fraudsters and dubious characters.
In the past two weeks, PageOne’s editorial team have shared series of complain emails received from disenchanted members of the scheme who have either been blocked out of getting their money from the ‘donating’ party or were conned by the other party who is ‘providing help’.
Jonah Chukwu James (not real names) cried for help in a complaint complaint email to PageOne Editorial thus:
“Dear sir, my name is Jonah Chukwu I get help of 335000,,, the three people 205000 have paid me and I confirmed them… But Priscilla Ogbeh (not real names),, 08125657xxx mobile number did not pay me 130,000 and instead when it about 3hrs remaining she uploaded something I don’t know what it is. And she was confirm… I didn’t confirm her beside the 3people I mention earlier please intervent (sic) for me I don’t want to lose my money.. I love givers forum thank you.. Together we can change the world….”
His problems has been compounded by Givers Forum’s lack of proper feedback mechanism. A Ponzi Scheme analyst said because of the jumbo interests Ponzi Schemes such as Givers Forum promise, members and prospects do not ask serious questions before they part with their money.
It is bad enough that Ponzi Schemes Like any get rich quick schemes, Givers Forum, MMM Nigeria and other similar schemes will eventually crumble. However, the fact that they have been invaded by fraudsters and dubious characters will further quicken their collapse.
As for Givers Forum, analysts predict it early collapse as a result its lack of structure and ‘customer support’.