Money doubling has become a new form of business as ponzi websites are being launched on a daily basis.
Gainmore Ponzi scheme launched this year and promised most of its investors 300% returns on their investment. As it is with most pyramid scheme, new investors pay to the administrators of the scheme directly after which they are merged to be paid by new investors also.
The scheme operate the provide help and get help merging system where a participant provide help of one of the plans to another participants,after which his payment will be confirmed and the system will automatically assign 3 other participant to pay him the same amount he provided help with and the the trend continues until the system expires and it automatically shut down and investors money will be trapped in it which in other words means it has crashed.
The welcome note on the website reads”Welcome to GainMore.net It is our vision and mission to:Turn your help to more gain, making you gain more”, no one ever gained more in investing in ponzi scheme because the first set of people that get help will not recycle and the system can not generate money automatically to pay those in line to ‘Get Help’.
Gainmore claims that it was invented to ensure financial freedom for its participants “We are GainMore Financial Services, We are concerned with ensuring that you gain financial freedom in all you do. We know money would have been your problem, so we built this platform to help you enjoy quick freedom from financial stress”says the message on the website.
The scheme offers different plans which are Plan A,you invest NGN10,000 and get NGN30,000 in return,Plan B you invest NGN20,000 and get NGN60,000 in return,Plan C you invest NGN50,000 and get NGN150,000 in return and the Plan D you invest NGN100,000 and get NGN300,000 in return.
Your investment in this system is not guaranteed as most Ponzi schemes always end collapsing leaving behind huge loses to mostly 90% of their investors.