The Economic and financial crimes commission EFCC has declared the ongoing Canada visa lottery scheme as scam. Only the United states of America is known to have a lottery program in place. The commission specifically mentioned in a tweet via its official Twitter account that the Canadian has no business […]
Konvaj is being touted as a market place yet operates like a Ponzi scheme. The promoters also say it is a marketing scheme that helps its members raise funding for business or project, build the business, as well as get others to participate in the circle. On visiting the website, what appears […]
Well over six months after millions of its investors lost around NGN80 billion, MMM Nigeria is claiming it will start paying back its investors part of their funds. A recent statement released by the promoters of the scheme, MMM Nigeria said it will pay back 10% of the amount invested […]
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, […]
Vietnam might further reign in OneCoin as the country’s Ministry of Planning and Investment has accused local affiliates of OneCoin of forging a license. The said license was alleged shared online that OneCoin was legally licensed by the Vietnam. According to BehindMLM, while OneCoin was having its Ponzi promotion and […]
An account belonging to Magara Smart Protus, a promoter of on online sports platform referred to as D9 Club has been frozen by Equity Bank Uganda over Ponzi operations. It was confirmed that the account was suspended following a recent complaint by the Rwandan authorities that the illegal operation, which […]
The Federal Government said it’s making all necessary arrangements to extradite to Nigeria, former Attorney-General of the Federation and Minister of Justice, Mohammed Adoke, to face charges of fraud. Counsel to the Economic and Financial Crimes Commission (EFCC), Mr Johnson Ojogbane disclosed. The commission charged Adoke and two multinational oil […]
Former GAW Miners creator, Joshua Garza is currently facing a USD12 million fine for operating what has been termed a ponzi scheme that used the lure of quick riches from virtual currency to defraud investors. Garza, had earlier been charged with securities fraud in 2015 and is also facing separate criminal proceedings […]
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 […]
The U.S. Commodity Futures Trading Commission, CFTC said it has filed fraud charges against Tallinex. Tallinex is an Estonian Retail Foreign Exchange Dealer which was said to be operating in Pleasant Grove, Utah. The CFTC said in an enforcement statement that the company was operating as a Retail Foreign Exchange […]