Pay Titans, a ponzi scheme created by a group of people who described themselves as ”The company was formed by a team of enthusiastic humanitarian specialists who decided to overcome the routine and unfair world financial system”.
They also claimed they are out to “creating a donation exchange platform that would enable participants help each other financially in times of need thereby bypassing the rigorous and tedious world order put in place by the financial institutions such that each member has access to funds when required without hassles.”
In other to convince its proposed investors of its genuinity, Pay Titans said ”PAY TITANS is not a bank, PAY TITANS does not collect your money, PAY TITANS is neither a business nor an online business, HYIP (High yield investment program), investment or MLM (Multi-level marketing) program. There are also no guarantees hence the advice to use only spare cash.There is no Central PAY TITANS Account where all the donations flow into. All the donations flow through the banking accounts of the participants themselves.”
PayTitans in a rush to make money, did not review their marketing strategy and speech . Their vision statement says ”To participate you need to register on the website. Once you register successfully, the system matches you to donate the sum of either N10,000, N20,000, N50,000 , N100,000 , N200,000 or N500,000 to a fellow participant. You will require a confirmation of payment from the member, then the system will automatically assign 2 participants to pay you as well.
Allow between 5 mins and 14 working days to be matched to receive donations after your payment has been confirmed. The system depends on the amount of people on queue to receive donations. If after 14 days and you are yet to be matched to receive donations. Simply log in to your PO and open a support ticket with the title” MERGE TIME ELAPSED ” and you will be matched within 6 hours. This is a promise and we intend to fulfill it absolutely.
A participant will wait for a whole 14 days to be paid, how long will he/she now wait to get his/her returns?.
Other Ponzi schemes pretend to be fair with their investors by giving 24 hours grace to get paid but PayTitans in its own words has exposed its mission.
Owners of the scheme had ensured that their identities are hidden from the public. The domain details has been set to private. By the time the scam is no longer sustainable to run, owners of Pay Titans will bolt with no trace to them. While Pay Titan is definitely not going to rank among the greatest scams in history, it is definitely something you would want to avoid.