Moses Samanja, Ponzi scammer gets 5 years imprisonment

Obinna Obioha

The long arm of the law has finally caught up with one Moses Samanja who has been jailed for five years for for soliciting and collecting deposits from unsuspecting members of the public.

Moses Samanja through his company Marian Moses Ventures Ltd was peddling the said investment product with unrealistic return on investment without a SEC registration or CBN licence.

The Nigerian Securities and Exchange Commission disclosed the judgement of the Federal High Court Kaduna division of October 27, 2016, which handed down a 5 year imprisonment term against him and his company the Illegal.

The court ordered that the Corporate Affairs Commission (CAC) should wind up the said Marian Moses Ventures Ltd; while funds in the accounts of the firm should be used to restitute its clients.

“The conviction of this illegal Operator serves as warning to perpetrators of illegal investment schemes that regulators will not “fold their arms” in the fight against the activities of illegal Fund/Investments Managers”.

“Consequent upon the above, this is to advise the investing public to always demand for a SEC Registration or CBN License before making deposit or subscribing to a scheme promoted by any firm”, the SEC said.

See the full list of Ponzi Scams in Nigeria:

NameOwnerType of SchemeStatus
MMM NigeriaSergei MavrodiPonzi schemeCollapsed/Restarted
UnknownPonzi schemeCollapsed
UnknownPonzi schemeCollapsed
NaracleKingsley SundayPonzi schemeCollapsed/Closed
Naira DonationUnknownPonzi schemeStatus unclear
ClarittaUnknownPonzi schemeCollapsed/Restarting
CitifundUnknownPonzi schemeCollapsed/Closed
SupernairaUnknownPonzi schemeStatus unclear
TrippleupUnknownPonzi schemeStatus unclear
LoopersUnknownPonzi schemeCollapsed/Restarting
TwinkasUnknownPonzi schemeCollapsing
Happy World MealUnknownPyramid schemeStatus unclear
OneCoinUnknownCryptocurrency scamCollapsing/Frozen
AfricoinUnknownCryptocurrency scamActive/Status unclear
SwisscoinWerner MarquetantCryptocurrency scamActive/Status unclear
PaytodayUnknownPyramid schemeCollapsed
My Liberty LifeUnknownPyramid schemeStatus unclear
Donation HubUnknownPonzi schemeCollapsed/Restarting
EntercryptoUnknownCryptocurrency scamCollpased/Closed
MavrocoinUnknownPonzi schemeCollapsed/Status unclear
Givers ForumUnknownPonzi schemeCollapsed/Status unclear
BitkinsUnknownPonzi schemeStatus unclear
MMM West AfricaUnknownPonzi schemeStatus unclear
NNN NigeriaUnknownPonzi schemeStatus unclear
Givers AllianceUnknownPonzi schemeStatus unclear
Fast RecyclerUnknownPonzi schemeStatus unclear
EsusuUnknownPonzi schemeStatus unclear
GiverscornerUnknownPonzi schemeStatus unclearActive/New
Ultimate CyclerWest FredPonzi schemeCollapsed/Restarting
CashpipeUnknownPonzi schemeStatus unclear
Changing Lives OnlineUnknownPonzi schemeStatus unclear
Naija ATMUnknownPonzi schemeStatus unclear
DualfundsUnknownPonzi schemeStatus unclear
Pyramid PayUnknownPonzi schemeStatus unclear
Tine God NetworksUnknownPonzi SchemeClosed by SEC
Marian MosesMoses SamanjaPonzi SchemeClosed by SEC
Pay TitansUnknownPonzi SchemeStatus unclear
EasywealthUnknownPonzi SchemeStatus unclear
AlwayspaysUnknownPonzi schemeCollapsed
XnairaUnknownPonzi schemeStatus unclear
MMM ReturnsSergey Mavrodi*Ponzi schemeStatus unclear
247HelpersUnknownPonzi schemeStatus unclear
GlobaclockUnknownPonzi schemeStatus unclear
SixhourspayUnknownPonzi schemeStatus unclear
LoudbarUnknownPonzi schemeCollapsing
Foster FundsUnknownPonzi schemeStatus unclear
CashspinaUnknownPonzi schmeStatus unclear
CommunalfundUnknownPonzi schemeStatus unclear
TwinloopsUnknownPonzi schemeStatus unclear
SurebankerUnknownPonzi schemeStatus unclear
Chistian JomboPyramid schemeStatus unclear
GooglenairaUnknownPonzi schemeStatus unclear
bigbankalertUnknownPonzi schemeScammed investors
LoversdonorUnknownPonzi schemeStatus unclear
MoneyspillageUnknownPonzi schemeStatus unclear
NairabillUnknownPonzi schemeStatus unclear
PaylordsUnknownPonzi SchemeStatus unclear
SwampoolUnknownPonzi schemeStatus unclear
EggcycleUnknownPonzi schemeStatus unclear
EngoforDiego van der VeenPonzi schemeFrozen by AFM
Apex ForumUnknownPonzi schemeStatus unclear
MFunds.ClubUnknownPonzi schemeStatus unclear
PairmeUnknownPonzi schemeStatus unclear
Kash DoublerUnknownPonzi schemeStatus unclear
MoniboxUnknownPonzi schemeStatus unclear
GoldearnUnknownPonzi schemeStatus unclear
Reget CashUnknownPonzi schemeStatus unclear
EmiratefundsUnknownPonzi schemeStatus unclear
DonorbizUnknownPonzi schemeStatus unclear
OgafundsUnknownPonzi schemeStatus unclear
LoomUnknownSocial media Ponzi schemeNew/Collapsing
Dantata Success and Profitable CompanyUnknownPonzi schemeClosed by SEC

Nigerian is now replete with all kinds of Ponzi schemes defrauding millions of their hard earned money using bogus promises. According to analysts’ estimates, over 20 Ponzi scams are launched per week, most of them operated via the Internet.

The SEC has only issued an official statement warning the investment public to stay away from Ponzi scams. Owners of Ponzi schemes are also wary of arrest over their illegal activities. Virtually all of them hide their identities.