Following the crash of MMM, several other Ponzi Schemes have surfaced amongst which is EasyWealth Transfer also known as EWT promising 300% returns on investments and aspiring to alleviate poverty level of Nigerian.
In its sales pitch to investors, the owners of the scam made several bogus claims. See below:
EWT platform was designed to alleviate poverty level of Nigerians as well as given the average man an opportunity to raise capital to execute his/her projects as deemed fit.
In easy wealth transfer We believe that the ability to live the life of your dream without having to work or rely on anyone else for money is possible.
When you Join, you will need to donate the sum of either N10,000, N20,000, N30,000 N40,000 or N50,000 to a fellow member assigned by the system and the member will then confirm your payment and then the system will automatically assign 3 other registered people under you who will also pay you the joining amount each, into your bank account, making 300%.
In Easy Wealth Transfer, there are five categories/stages respectively. They claim to guaranteed 300% investors of whatever is invest within two weeks without referring someone. According to the owners, “To minimize your risk, all participant must start with the first level before proceeding to the next stage after getting returns on their investment”.
With the huge promises made to investors,it bothers one where EWT will get money to pay its participants. It is just the same old way other Ponzi Schemes adopt which is for old investors to wait in line to get their jumbo profit from new investors.
Owners of EasyWealth Transfer have taken the normal route by hiding their identities from the public. They will go scot-free after defrauding their investors who will become victims.
With several red flags pointing to the fraudulent tendencies of EasyWealth Transfer, investors and the general public should stay away from such scams.