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:
| Name | Owner | Type of Scheme | Status |
|---|---|---|---|
| MMM Nigeria | Sergei Mavrodi | Ponzi scheme | Collapsed/Restarted |
| Unknown | Ponzi scheme | Collapsed | |
| Unknown | Ponzi scheme | Collapsed | |
| Naracle | Kingsley Sunday | Ponzi scheme | Collapsed/Closed |
| Naira Donation | Unknown | Ponzi scheme | Status unclear |
| Claritta | Unknown | Ponzi scheme | Collapsed/Restarting |
| Citifund | Unknown | Ponzi scheme | Collapsed/Closed |
| Supernaira | Unknown | Ponzi scheme | Status unclear |
| Trippleup | Unknown | Ponzi scheme | Status unclear |
| Loopers | Unknown | Ponzi scheme | Collapsed/Restarting |
| Twinkas | Unknown | Ponzi scheme | Collapsing |
| Happy World Meal | Unknown | Pyramid scheme | Status unclear |
| OneCoin | Unknown | Cryptocurrency scam | Collapsing/Frozen |
| Africoin | Unknown | Cryptocurrency scam | Active/Status unclear |
| Swisscoin | Werner Marquetant | Cryptocurrency scam | Active/Status unclear |
| Paytoday | Unknown | Pyramid scheme | Collapsed |
| My Liberty Life | Unknown | Pyramid scheme | Status unclear |
| Donation Hub | Unknown | Ponzi scheme | Collapsed/Restarting |
| Entercrypto | Unknown | Cryptocurrency scam | Collpased/Closed |
| Mavrocoin | Unknown | Ponzi scheme | Collapsed/Status unclear |
| Givers Forum | Unknown | Ponzi scheme | Collapsed/Status unclear |
| Bitkins | Unknown | Ponzi scheme | Status unclear |
| MMM West Africa | Unknown | Ponzi scheme | Status unclear |
| NNN Nigeria | Unknown | Ponzi scheme | Status unclear |
| Givers Alliance | Unknown | Ponzi scheme | Status unclear |
| Fast Recycler | Unknown | Ponzi scheme | Status unclear |
| Esusu | Unknown | Ponzi scheme | Status unclear |
| Giverscorner | Unknown | Ponzi scheme | Status unclearActive/New |
| Ultimate Cycler | West Fred | Ponzi scheme | Collapsed/Restarting |
| Cashpipe | Unknown | Ponzi scheme | Status unclear |
| Changing Lives Online | Unknown | Ponzi scheme | Status unclear |
| Naija ATM | Unknown | Ponzi scheme | Status unclear |
| Dualfunds | Unknown | Ponzi scheme | Status unclear |
| Pyramid Pay | Unknown | Ponzi scheme | Status unclear |
| Tine God Networks | Unknown | Ponzi Scheme | Closed by SEC |
| Marian Moses | Moses Samanja | Ponzi Scheme | Closed by SEC |
| Pay Titans | Unknown | Ponzi Scheme | Status unclear |
| Easywealth | Unknown | Ponzi Scheme | Status unclear |
| Alwayspays | Unknown | Ponzi scheme | Collapsed |
| Xnaira | Unknown | Ponzi scheme | Status unclear |
| MMM Returns | Sergey Mavrodi* | Ponzi scheme | Status unclear |
| 247Helpers | Unknown | Ponzi scheme | Status unclear |
| Globaclock | Unknown | Ponzi scheme | Status unclear |
| Sixhourspay | Unknown | Ponzi scheme | Status unclear |
| Loudbar | Unknown | Ponzi scheme | Collapsing |
| Foster Funds | Unknown | Ponzi scheme | Status unclear |
| Cashspina | Unknown | Ponzi schme | Status unclear |
| Communalfund | Unknown | Ponzi scheme | Status unclear |
| Twinloops | Unknown | Ponzi scheme | Status unclear |
| Surebanker | Unknown | Ponzi scheme | Status unclear |
| Chistian Jombo | Pyramid scheme | Status unclear | |
| Googlenaira | Unknown | Ponzi scheme | Status unclear |
| bigbankalert | Unknown | Ponzi scheme | Scammed investors |
| Loversdonor | Unknown | Ponzi scheme | Status unclear |
| Moneyspillage | Unknown | Ponzi scheme | Status unclear |
| Nairabill | Unknown | Ponzi scheme | Status unclear |
| Paylords | Unknown | Ponzi Scheme | Status unclear |
| Swampool | Unknown | Ponzi scheme | Status unclear |
| Eggcycle | Unknown | Ponzi scheme | Status unclear |
| Engofor | Diego van der Veen | Ponzi scheme | Frozen by AFM |
| Apex Forum | Unknown | Ponzi scheme | Status unclear |
| MFunds.Club | Unknown | Ponzi scheme | Status unclear |
| Pairme | Unknown | Ponzi scheme | Status unclear |
| Kash Doubler | Unknown | Ponzi scheme | Status unclear |
| Monibox | Unknown | Ponzi scheme | Status unclear |
| Goldearn | Unknown | Ponzi scheme | Status unclear |
| Reget Cash | Unknown | Ponzi scheme | Status unclear |
| Emiratefunds | Unknown | Ponzi scheme | Status unclear |
| Donorbiz | Unknown | Ponzi scheme | Status unclear |
| Ogafunds | Unknown | Ponzi scheme | Status unclear |
| Loom | Unknown | Social media Ponzi scheme | New/Collapsing |
| Dantata Success and Profitable Company | Unknown | Ponzi scheme | Closed 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.
