Liquid Cash is a pyramid scheme using a 3:1 matrix payment method with a promise of 300% returns on every NGN10,000 investment by its prospective investors.
The operation of liquid cash is not different from what every other collapsed ponzi scheme has offered except that it has only NGN10,000 package. The package might look small for anyone to want to give it a try but it is a dangerous gain because the returns is not 100% guaranteed.
According to the message on the platform, anyone who put their money into the scheme is at its own risk,”There are no guarantees and promises! Neither explicit nor implicit. There are neither investments nor business! There are no securities transactions, no relationship with the professional participants of the securities market; you do not acquire any securities.There are no rules. In principle! The only rule is no rules, at all! Even if you follow all of the instructions, you still may “lose”. And in general, you can lose all your money. Always remember about this and participate only with spare money. Or do not participate at all!”says the message on the website.”
A former participant told Pageone that it is upto 2 weeks now that she has provided help to someone but has not gotten her capital not to talk of the profit promised after all. She went further to call the scheme a scam that they purposely put 10,000 as the only package so that lot of people can register and at the end make away with their money. ”I regret registering on the scheme”she says.
Liquid Cash is claimed to have been founded by people community, which help each other for free, and absolutely consciously, they transfer money directly to each other i.e. peer-to-peer, from one bank account to another, without any conditions, guarantees and promises. Just only because they want to do that.
There is no formal organization, no legal backing in Liquid Cash. And of course there is no central bank account, no other activity in any form. Neither close, nor open. There is nothing! There are only simple participants, simple private persons and nothing more.”
Fortunately, this statement has become a trend among ponzi schemes, claiming to have the interest of participants at heart meanwhile, it is just to cajole you to put your money in the system,after all you dont know them facially if at all anything goes wrong and they will also claim that they warned you but you chose to put your money in it.
Watch before you leap.