In the real sense, Community Mutual Aid would have been a super idea, but in this case, it is a Ponzi scheme where investors provide financial ‘assistance’ and get return on investment within a certain period.
According to the promoters, it is a platform where you declare a willingness to support someone’s dream or provide help and get 40% interest in 30 days.
By investing in Community mutual aid, it means you are prepared to keep your money in the system for a maximum of 3 month. The promoters say after the stipulated period, the amount invested ‘will stop growing because CMA is not a bank, you can GH and PH the money again to keep growing.’
CMA is not a bank, investment company, or get rich quick scheme. CMA does not collect money from anyone’s bank account. CMA is a community of people that understand it is more important to work together in order to beat the ‘unfair financial order’ we live in today in this world, where only a few of the people enjoy and control the world’s riches and wealth, where the rich keep on getting richer and the poor keep on getting poorer. CMA participants from all over the world, selflessly and unselfishly help each other to fulfil one another’s dreams by donating among themselves in order to advance each other’s financial lives. They understand that nothing beats community work, CMA members understand that “together we stand, but divided we fall”. as it appears on the scheme’s website.
Those who invite friends and family members to also be a part of the system tend to get about 10% Referral bonus. To also keep its members, community mutual aid says it has worked out a plan to ensure the system is robust and maintain a healthy cycle.
‘A platform without recommitment plan will crash faster, the recommitment plan here is simple and quite ideal than other platforms… When you GH, the system automatically create a 30% recommitment PH for you.
‘Let’s say you are withdrawing NGN30,000, if you do not have a PH order, the system will automatically create a PH order of 30% of NGN30,000 for you which is NGN9000.
Sounds like they have it all planned out? How about if the operators or administrators as the case may be are the same individuals requesting payments? It is fine to want to commit to a ‘get rich quick’ platform, but many have gotten their hands burnt in the past with the likes of MMM, Twinkas (still has other peoples money hanging) et al.
The message from financial regulators and government authorities on Ponzi scheme is clear, they are selfishly setup, wolves in sheep clothing operating a rob Peter to pay Paul system without specific business model.
No Ponzi scheme is reliable.