The epileptic situation of the Nigerian economic has given ponzi schemes like Loudbar the advantage to function and in return rob Nigerians of their hard earned Money.
Loudbar is a scheme where participants provide financial help to each other with hope of getting 100% interest on each investment.
There are no details on who owns and registered the ‘loudbar.org’ website. The domain is also set to private.
For members of the scheme, when you provide help on Loudbar, you receive 100% reward growth on your donation in six hours, this is according to the promise on the promoters’ website.
Its mode of operation shows that it is nothing different from other ponzi scams out there promising loads of benefits and also urging participants to use spare funds. They describe themselves as ”We are a community of helpers. We give you 100% what you give others. Dont wait for the system, its is you and I. Join now and make sure you tell others.”
Looking at the site, the owners have planned the strategy in such a way that that participants will feel secured by creating several button like the “247 support” to be clicked should in case any thing goes wrong and also making it look mutual saying “There is no central Account, its a peer to peer investment”.
It is risky to invest a in a program such as this, which is why the government of Nigeria through the relevant agencies have raised a voice against Ponzi and pyramid schemes.
Loudbar on its website displays an image of Europeans who may not have the slightest idea of what their image is being used to portray. The site has nothing to offer other than to rob you to pay your other fellow which is not sustainable.
For those who gets involved in this scam, their cries of loss will not be ‘loud’ by a single ‘bar’.