The brains behind Ponzi schemes, it seems, are not resting on their oars. Indeed, one has to marvel at the craft of their very close-to-perfect schemes. At a time of rising consciousness about trading and forex investments in the public, phony investment scams are emerging. Amongst them is MBA Forex Investment.
MBA Forex Investment boasts of having over ten thousand active investors In Nigeria as well as having business locations in the United Kingdom and in UAE. MBA Forex Investment also claims to be CAC and CBN certified. However, all of these claims cannot be ascertained. There is no proof of these acclaimed certifications. As such, MBA Forex Investment cannot be said to be a veritable Forex Investment scheme.
MBA Forex Investment claims to be certified but the Security and Exchange Commission of Nigeria says otherwise. The Commission tags MBA Forex Investment “an unlawful and unlicensed market operator” promising “huge and unjustifiable returns on investment.” The commission further warned the investing public to steer clear of MBA Forex Investment.
MBA Forex Investment has tried to poise itself as a panacea for joblessness and a path to poverty alleviation. However, it presents too-good-to-be-true investment opportunities. With absolutely high and static or guaranteed investment returns, MBA Forex Investment betrays the fluctuating nature of forex investment. MBA Forex Investment tenets are antithetical to forex or trading investment.
Truly, MBA Forex Investment does not have the pyramid structure that characterizes most Ponzi schemes. Investors’ earnings are not dependent on the number of recruits they bring in neither do they have to “pay-to-play.” However, a careful look at the structure of MBA Forex Investment reveals a slight semblance of Ponzi schemes. The owner(s) of MBA Forex Investment was or were smart enough to alter the pyramid structure with embellishments such as its online and offline learning schedules and its learning institutes.
In all, if MBA Forex Investment is what it claims it is, then the security and exchange commission of Nigeria contradicts the Apex Bank of Nigeria. That is quite impossible and unthinkable.