PayDiamond, a diamond investment Ponzi scheme disguised as a multi-level marketing for people to invest in diamond is about to launch in Nigeria.
According to an alert exclusively sent to PageOne.ng by Crime Alert Snoopers, PayDiamond will be launching its operations in Nigeria through an exclusive event across Port Harcourt, Abuja, Lagos and Onitsha.
According to PageOne.ng’s data, these cities, are the three most active markets for Ponzi schemes and other multi-level marketing activities across Nigeria. Therefore, their choice to launch PayDiamond in those cities is not only strategic but a plan to get as many as possible people to enter the scheme.
According to the scam alert released to PageOne.ng by Crime Alert Snoopers:
PayDiamond is blocked by justice in several Countries but not in Portugal
We suspect they will try to bring money out of your Country away from customs.
Their names are:
Graça Luisa de Freitas Andrade
Sofia Alves Ferreira
Please ask your airport police Authorities to check their baggage in the airport on return. We suspect of Money Laundering and ponzi business scheme.
On its website well designed and laid-out to exude top-notch and professionalism, PayDiamond has no product and or services it renders except for its lush designs and anecdotes such as “Approximately 50% of the cut diamonds and 84% of the world’s rough diamonds pass through Antwerp, the US $ 55 billion a year (+200 million a day).” There is no implication of the ‘interesting’ fact to an average visitor.
The scheme claims it helps its investors and affiliate invest in the diamond market with extensive details on the weight and units of measurements for diamonds on its website.
For all its is worth, there is no proof that this scheme is genuine. The members of the public should thread with caution in investing in the scheme altogether.
The influx of Ponzi schemes into the Nigerian market took a turn for the worse in the wake of Nigeria’s worst recession in the last 20 years.
PageOne.ng could not reach PayDiamond promoters in Nigeria as at the time of writing this report.
The first to wreck a major havoc was MMM Nigeria, a Ponzi scheme disguised as a social financial network where investors pay themselves in return for a 30% return on investment within two weeks.
MMM Nigeria has since collapsed leaving behind over NGN80 billion in losses to its investors, many of whom are students, working class young adults and pensioners who have no clue as to how they will recover their investment from the scheme.