Recently, the famous PSL announced the reduction in the monthly payment from 20% of initial capital to 10%. The payment plan that used to span for 15 months has now been increased to 30 months. However, this announcement didn't go down well with investors in the scheme, especially the new entrants. The proponents of the scheme saw the handwriting and never notified the general public. Instead, they intensified efforts in encouraging people to join in order to swindle them of their money. Cross-section of the new investors who spoke under anonymity said some of the uplines stopped talking to them immediately the new 10% payment was announced. Particular new investors who just invested almost 40 million Naira with the assurance of 20% monthly payment promised to run for 15 months lamented about the sudden decision. Now, he will directly only be paid 10% of his investment for 30 months. Efforts made to recover his investment proved abortive as none of the PSL officials could respond to him. The financial implication of this is that an investor can only get back his initial capital after 10 months of investment, provided the payment percentage is not reviewed downward.
Obviously, the scheme has practically crashed, but the scheme's operators launched late hour propaganda to make innocent people entered the scheme and changed the rule, immediately they attained a particular amount of money that can satisfy their gluttonous appetite for wealth. New investors are now lamenting their foolish decision to join the Ponzi scheme while the scheme operators are smiling to the bank. Those who joined the scheme are naïve and ignorant of the cunny disposition of the operators of the scheme. Members were made to tag their bank deposit reference "donation", thus, the scheme's organizer used this approach to shield themselves from backlash and litigations. The Bible is clear about Ponzi and the pyramid scheme. People should know better, but unfortunately, there are many gullible people in the world. Most of these schemes are run by people who do not care about the other participants. They know that many of them will lose money, but since their motivation is greed, that doesn't stop them.
PSL operators presented themselves as Christians, and this deceived a lot of people. A particular new investor claimed that she was introduced by a church member she trusted to the extent that she didn't even bother to ask about the terms and conditions. The Bible says, "Be not deceived, God is not mocked, whatsoever a man sows, that he shall also reap" (Galatians 6:7). If you sow your time, energy or money into a program that ultimately causes financial loss, suffering and confusion to others, even if you made money temporarily, you will ultimately reap suffering, confusion and financial loss as a result.

During the early part of 1997, Albanians were experiencing their first fruits of democracy. The people had not been exposed to many business practices, either legitimate or fraudulent, because of the Communist regime. When some devious individuals introduced a pyramid program to Albania, hundreds of thousands of people participated. When the nation was saturated with this program, the last people to buy in realized that they had nobody to collect money from and the pyramid collapsed. At that point, thousands of the people went on a rampage. Anarchy broke out and a civil war began. To this day, the nation has not regained its stability. The people were naïve and somehow felt that they could get rich without really working, simply by investing in a devious pyramid scheme.

I don't know why people keep falling for ponzi scheme like this. What a pity.

Favour9ja:
Recently, the famous PSL announced the reduction in the monthly payment from 20% of initial capital to 10%. The payment plan that used to span for 15 months has now been increased to 30 months. However, this announcement didn't go down well with investors in the scheme, especially the new entrants. The proponents of the scheme saw the handwriting and never notified the general public. Instead, they intensified efforts in encouraging people to join in order to swindle them of their money. Cross-section of the new investors who spoke under anonymity said some of the uplines stopped talking to them immediately the new 10% payment was announced. Particular new investors who just invested almost 40 million Naira with the assurance of 20% monthly payment promised to run for 15 months lamented about the sudden decision. Now, he will directly only be paid 10% of his investment for 30 months. Efforts made to recover his investment proved abortive as none of the PSL officials could respond to him. The financial implication of this is that an investor can only get back his initial capital after 10 months of investment, provided the payment percentage is not reviewed downward.
Obviously, the scheme has practically crashed, but the scheme's operators launched late hour propaganda to make innocent people entered the scheme and changed the rule, immediately they attained a particular amount of money that can satisfy their gluttonous appetite for wealth. New investors are now lamenting their foolish decision to join the Ponzi scheme while the scheme operators are smiling to the bank. Those who joined the scheme are naïve and ignorant of the cunny disposition of the operators of the scheme. Members were made to tag their bank deposit reference "donation", thus, the scheme's organizer used this approach to shield themselves from backlash and litigations. The Bible is clear about Ponzi and the pyramid scheme. People should know better, but unfortunately, there are many gullible people in the world. Most of these schemes are run by people who do not care about the other participants. They know that many of them will lose money, but since their motivation is greed, that doesn't stop them.
PSL operators presented themselves as Christians, and this deceived a lot of people. A particular new investor claimed that she was introduced by a church member she trusted to the extent that she didn't even bother to ask about the terms and conditions. The Bible says, "Be not deceived, God is not mocked, whatsoever a man sows, that he shall also reap" (Galatians 6:7). If you sow your time, energy or money into a program that ultimately causes financial loss, suffering and confusion to others, even if you made money temporarily, you will ultimately reap suffering, confusion and financial loss as a result.

You have made a very long post about the challenges a company is facing, but does that make it a scam? Are people still being paid as we speak? Every business has trying times, coming here to bad mouth it will not change anything. I will not say too much rather I will come back to your thread in two years to tell you how the business continues to wax stronger.

Awube:




You have made a very long post about the challenges a company is facing, but does that make it a scam? Are people still being paid as we speak? Every business has trying times, coming here to bad mouth it will not change anything. I will not say too much rather I will come back to your thread in two years to tell you how the business continues to wax stronger.

Please I'll like to know too

are people still being payed?