Cashpipe Ponzi scam is a drain pipe for your money

Cashpipe Ponzi scam is a drain pipe for your money

If you have a strong sense of humour, you first visit to CashPipe will get you cracked up.

Cashpipe is a typical Ponzi Scheme but perhaps its owners are lovers of hip hop, they have spiced up the site with the street ‘lingua franca’.

That is how absurd the Ponzi Scheme industry in Nigeria has become. Apart from promising prospective investors 100% return on investment for every amount they deposit to another investor, Cashpipe has over seven investment packages with ‘pipes’ in the names.

There are no products and or packages sold in Cashpipe, owners if the scheme are basically going to increase the tempo of getting new investors into the system in order to make mega profits and pay older investors waiting in line.

The domain for the site was registered last week (February, 11, 2016). The domain has been set to private. As it is, there are no information on who owns and runs the scheme.

Some of the promoters of Cashpipe are seen on various Ponzi Scheme chat rooms and forums pitching to visitors on the advantage of investing in the scheme.

A Ponzi Scheme analyst warned that this scheme is not different from other schemes scamming people online. With no information on who owns and runs the organization, people should stay away from this scheme.

Another analyst warned that Cashpipe might collapse faster than other schemes because of its structure. Investors are promised “return on donation will be on before 18 days”. Owners of the scheme might be the one collecting all the first set of deposits using phoney bank accounts and identities that will give investors the feel that they are doing serious investments. They might not pay any invest after the 18 days elapsed.

Earlier this morning, Naracle, one of the various Ponzi Schemes collapsed without any message to its investors.

The collapse of a scheme like this will be unannounced, an analyst warned. Scam Adviser rate the site as a high risk site that people should keep away from.