Naija ATM Ponzi scam will be one of the biggest Ponzi fraud that will hit anyone who invested their money in the scam.
Apart from the fact that it is a typical Ponzi scheme, Naija ATM is deviating from the norm of the community.
Investors are required to buy ad packages by paying into a central account. One of the people linked to the scam explained on a Ponzi scam website that:
“Naija ATM is not a member to member donation platform meaning all payment goes to one central account to maintain the sustainability of the platform through Auto 2x repurchases of N10400 and sponsor bonus. If the system doesn’t operate on a Central account there won’t be auto repurchasing or sponsor bonus so every member of Naija ATM should try and understand we are here to stay”.
The popularity of Naija ATM has gone through the roof in less than 15 hours after it was launched. Owners of the scam are already claiming that they have 13,518 investors on their platform.
There are information on who owns the site. The site domain details has been set to private. Naija ATM website was registered two weeks ago, exactly on the 8th of February, 2016.
See below the mumbo-jumbo one of the faceless owners of scam used to explain how the system works:
“IF” you DO NOT sponsor anyone you will receive N5200 every time you cycle the 4×1 matrix and your sponsor will receive N5200 also each time you cycle. Then the system repurchases 2 positions back into the 4×1 matrix so you can do it again and again!
Now “IF” you DID sponsor 1 person then you would receive N5200 each time that referral cycled plus the N5200 each time you cycled the 4×1 matrix.(Income Doubled) Then the system repurchases 2 positions back into the 4×1 matrix for them so you can do it again and again!
Now “IF” you DID sponsor 2 people then you would receive N5200 each time both of your referrals cycled plus the N5200 each time you cycled the 4×1 matrix.(Income Tripled) Then the system repurchases 2 positions back into the 4×1 matrix for them so you can do it again and again!
The purpose of this email is to let you know that NOW is the time for you to build your team. You can pass out your link now and get your team so when the program launches 6am Feb 20 2017 you and your team will be ready to earn from the start. OR you can wait and watch and let everyone else pay and have their position approved BEFORE you decide to show the program to others.
Get your link from the promotional center and pass it out to as many people as you can.(There is not limit to the number of people you can sponsor) Be greedy!! Get everyone you know before someone else gets them and they then get the sponsor bonus from that person who could have been your referral”
From its name to its structure, Naija ATM is as fraudulent as it gets. Once the owners of the scam get w=enough cash, they will close the site and claim they were hacked and or they are on routine maintenance.