Loopers Club ponzi scam finallly collapse

MD Fund

Loopers Club Ponzi scheme has collapsed dashing the hopes of its numerous members who are now victims.

By estimate, more than 15,000 people must have lost several millions of Naira to Loopers Club.

The Ponzi scam was started in less than 30 days ago. Unlike Bitcoin Loophole, Loopers Club was fashioned after the usual social financial network model where people donate money to themselves without a central bank account.

In their typical excuse, owners of the site announced that the site will be going on routine maintenance. A former member of the scheme told PageOne.ng that Loopers is gone for good. He actually hinted that the owners of the scheme might be looking at starting another one should they find it impossible to convince people that the scheme will restart.

Another Ponzi scheme analyst said Loopers Club will surely come back but will not last for long. He hinted that the comeback will be the final onslaught by the owners to finally sign out of the site.

In early January, Loopers club was launched with much fanfare. The site was well designed to hoodwink people into seeing it as a different scheme that is ‘here to stay’.

Looper Club website was registered on the 24th of January, 2016 with NAMECHEAP INC.

In its marketing pitch, Loopers Club described the scheme as “Loopers Club is a free platform where you get 200% (two) of the money in 7-14 days.”

The scam is very much similar with TwinKas where members are promised get 200% of the money in a few days without doing any referral work and or downlines required by MLM schemes.

Owners of the site have hidden their identities to make sure their scam is a ‘perfect scam’. A Ponzi scheme analyst who craved anonymity said the owners of Loopers Club are former and current MMM Nigeria promoters who have either lost huge money or made a kill from the popular scam.

The month of February will go down in the history of ponzi scheme as a very ‘bad’ month. This is because, several ponzi schemes have met their waterloo. Claritta, a very popular scheme collapsed in the tail end of last week with millions of victims also losing million to the scammers who run the scheme.

CitiFund, another popular Ponzi scam has not been allowing its members to get back their funds. The following days will determine if Citifund is also ‘done for’.

Late last week, MMMM Nigeria, the largest digital Ponzi scheme to have entered Nigeria announced that it is restarting. The statement meant that over NGN5 billion (based on estimates from analysts) invested into the scheme in 2016 has gone for good. MMM Nigeria was employing its members to start afresh by investing fresh funds.

An analyst told PageOne.ng that the drill to identifying Ponzi scams is still the same. When a financial services related company cannot disclose who is running the show, it is a problem. As its stands, neither Claritta, Citifunds, Donation Hub and now Loopers Club state who and who runs the show.

There are no guarantee MMM Nigeria can stage a comeback with its dented image. Loopers Club might come back but the message must have gone far and wide.