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Nairaland Forum / Nairaland / General / Investment / Menorah Farms: A Ponzy Scheme In Agro Investment? (4037 Views)
Penny Wise Investment Is Not A Ponzy Scheme / Agro Investment With High Returns / Beware Of The Latest Ponzi Scheme In Town (2) (3) (4)
Menorah Farms: A Ponzy Scheme In Agro Investment? by Ovi2020: 2:00pm On May 01, 2020 |
Menorah farm is just pure scam. They are finally using the corona pandemic to claim that why they can't sell the plantain farm people invested in 7months ago after numerous flimsy excuses they made prior to the present lockdown. Meanwhile other farms are currently paying investors in this lockdown. Now they want to refund invested capital only, I wonder where the plantains are. The annoying thing is that they keep telling lies as if investors are fools. This obviously isn't good for the reputation of Agro business. It's obvious they dont care about theirs. Lalasticlala pls move to front page 1 Like 3 Shares |
Re: Menorah Farms: A Ponzy Scheme In Agro Investment? by leke12(m): 3:05pm On May 01, 2020 |
That's why your capital is only insured not the interest. If It's ponzi, you won't be getting your capital talk less of interest. Read the terms and conditions of their insurance policy. 2 Likes |
Re: Menorah Farms: A Ponzy Scheme In Agro Investment? by Ovi2020: 7:27pm On May 01, 2020 |
leke12:They didn't loose the crops. The produce is right there in the farms. Its plantain so you dont harvest if you dont have a buyer yet. In one of the emails they sent they said they were going to sell off in the local markets. Now when the lockdown began they sent another mail saying they cant export bc of the pandemic. So why not sell in the local market like they earlier said. Other farms are still selling in the local market and paying off their investors. Now they want to refund investors capital, what about the produce (the plantains). Are they going to throw them away. This is not a crop failure. And there is a local market here in the country even if they cant export. 1 Like |
Re: Menorah Farms: A Ponzy Scheme In Agro Investment? by leke12(m): 10:46am On May 02, 2020 |
Ovi2020:I get your point, but why don't you think this way... Maybe their projected profit is based on foreign earnings, you can't compare to local market sales. This lock down can prevent exportation, even food crops are been destroyed in USA due to low patronage. So I think if am their manager, I will suggest they sell it in local markets, return the investors' capitals and use the remaining gross profit to settle expenses in operations, pay taxes and reinvest. So after lock down we all can move on, shikena! 2 Likes |
Re: Menorah Farms: A Ponzy Scheme In Agro Investment? by Massacre(m): 9:57pm On May 02, 2020 |
leke12:Don't you think ignorant is never an excuse in the court of law? won't you think it through (the unseen)before playing with people's hard earned money? 1 Like |
Re: Menorah Farms: A Ponzy Scheme In Agro Investment? by Cheechy(f): 10:01pm On May 02, 2020 |
leke12: Well said. 1 Like |
Re: Menorah Farms: A Ponzy Scheme In Agro Investment? by tenderjunkie: 7:53am On May 22, 2020 |
leke12:Shikena? Move on at the investors detriment abi People give you their hard earned money for well over 6months, you extend duration to 9 months, you don't want to pay profit, you're being rude ontop, and you just want to move on |
Re: Menorah Farms: A Ponzy Scheme In Agro Investment? by JoyHephzibah: 3:49pm On May 30, 2020 |
As far as i am concerned, menorah farms has gotten a bad reputation from me, and I won't advise anyone to invest with them even if the have juicy ROI. From the very beginning their customer care service has been rude, even at the point of investing. I wish I hadn't put my money... No matter what, the duration given was 6months with ROI if you are not paying the profit at least pay up the invested capital in due time. Investors are not fools. Why add an additional 3months to the sponsor duration without the intent of paying the profit as well? Othe agroinvestment platforms are still paying all investors. This is about credibility and future posterity. Worse they disabled their social platforms from comments. What sensible enterprise doesn't engage their clients/customers/followers? If they were not Ponzi scheme no matter how bad it is they will handle it I mean Their clientele base. This is really bad for the face of agritech Industry @menorahfarms 4 Likes |
Re: Menorah Farms: A Ponzy Scheme In Agro Investment? by femeritus: 10:35pm On May 30, 2020 |
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Re: Menorah Farms: A Ponzy Scheme In Agro Investment? by Yinkus9: 2:41pm On Jun 20, 2020 |
Has anyone bn able to collect their capital from Menorah? I'm frustrated with the lies they keep giving. No logical explanation for their refusal to pay. I invested in their grasscutter farm. They said Government policy affected them... which is a lie. Did Government ask you not to farm? Did Government ask you not to sell the grasscutter you reared? All these questions and more arise from their claims! The worst thing is I spoke to them on the phone and they kept talking anyhow, no human feelings that my hard earned money us there. A friend's brother sent them a mail and they told him going to social media wont make them pay! Can you imagine? This is the reason genuine business looking for investors suffer because of the attitude of this menorah farms. Cc: joyhepzibah tenderjunkie ovi2020 Lalasticlala please help us move this to front page |
Re: Menorah Farms: A Ponzy Scheme In Agro Investment? by stagger: 3:12pm On Jun 20, 2020 |
Ovi2020: So they cannot make and sell plantain flour or plantain chips? 1 Like |
Re: Menorah Farms: A Ponzy Scheme In Agro Investment? by klementino(m): 3:17pm On Jun 20, 2020 |
that is bad, they should be brought to book,
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Re: Menorah Farms: A Ponzy Scheme In Agro Investment? by Ovi2020: 9:22pm On Jun 20, 2020 |
We are considering legal action Yinkus9: 1 Like |
Re: Menorah Farms: A Ponzy Scheme In Agro Investment? by Yinkus9: 3:44pm On Jun 21, 2020 |
Ovi2020:Very brilliant one Please carry us along. Kindly update us on this thread |
Re: Menorah Farms: A Ponzy Scheme In Agro Investment? by Ovi2020: 7:02am On Jun 25, 2020 |
We paid a visit yesterday to Menorah office but didn't meet anybody. A tenant in the same compound told us they have not been in the compound since the beginningof the lockdown in Lagos. Even the cleaner that used to come from time to time to clean the office has stopped coming. I was also told they initially had their banner in front of the place but that has been removed. Obviously Menorah is avoiding investors. They were informed of our visit via mail and WhatsApp chat which they saw (on WhatsApp) but never acknowledged. I also noticed they have been editing their terms and conditions on their app. Ovi2020: |
Re: Menorah Farms: A Ponzy Scheme In Agro Investment? by Yinkus9: 8:56am On Jun 25, 2020 |
Ovi2020: They sent a mail talking about a whatsapp group and that they are not a part of the group and other series of talk. These guys are scammers. That place they called office is actually where they live, because a fellow investor visited the place when we were about to invest. He said they carved out a space in their living room as their office. Thank you for the update. Please, what is the way forward? Is there any way Leadway can be of help in this matter since they confirmed to us prior investment that they are insured by them? |
Re: Menorah Farms: A Ponzy Scheme In Agro Investment? by Ovi2020: 10:12am On Jun 25, 2020 |
Yinkus9:
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Re: Menorah Farms: A Ponzy Scheme In Agro Investment? by Ovi2020: 10:14am On Jun 25, 2020 |
They insured just a paltrysum. Just 1,050,000. Leadway is not obliged to divulge the details of the insurance to you bc its btw them and Menorah. Yinkus9: 2 Likes 1 Share |
Re: Menorah Farms: A Ponzy Scheme In Agro Investment? by emmanuelewumi(m): 1:37pm On Jun 25, 2020 |
Ovi2020: If they can pay back your capital, you better jump at the opportunity |
Re: Menorah Farms: A Ponzy Scheme In Agro Investment? by emmanuelewumi(m): 1:42pm On Jun 25, 2020 |
Ovi2020: It will take 8 years and above and you can't get 100% of your capital My wife's 900k is still trapped in Nospetco since 2008. The Investors are still in court, yet to get a Kobo and are spending money on lawyers. A total of N30 billion trapped |
Re: Menorah Farms: A Ponzy Scheme In Agro Investment? by Stellate: 10:51pm On Jun 26, 2020 |
Menorahxs case is a criminal case. emmanuelewumi: 1 Like |
Re: Menorah Farms: A Ponzy Scheme In Agro Investment? by idarajoyesther: 12:55pm On Jul 12, 2020 |
Hello, please is there a WhatsApp group I could join? I also invested in the grasscutter farm and I haven't been paid |
Re: Menorah Farms: A Ponzy Scheme In Agro Investment? by Stellate: 1:02pm On Jul 12, 2020 |
idarajoyesther:send me a DM |
Re: Menorah Farms: A Ponzy Scheme In Agro Investment? by JoyHephzibah: 12:48pm On Aug 04, 2020 |
idarajoyesther: My most recent chat with their so called project officer on telegram Mary A.A: Hello, Menorah Farm Investor. We are sorry, we could not meet up with the plans and promise of investment but we have made sure, we update you via your email and mobile app notifications. The company has been able to disbursed investors capital and ROI successfully over the years but we are so sorry, the economy right now is not favorable at all. We have decided to return your capital according to our terms and agreement you accepted before you invested. AS STATED IN OUR TERM OF SPONSORSHIP you agreed on before going ahead to make payment. If your investments ends in April, your 90 days counting would begin in May. If your investments ends in May, your 90 days would begin in June. So payments would be made before the end of 90 days We are so sorry things are like this. We hope that you bear with us, we understand how we would have made plans for this money but we are sorry for all disappointment. Project Team Menorah Farms. Me: Good evening Mary, trust you are good... Sequel to this, I would like to know updates as regards my invested funds. It matured in May and like you said the 90days grace started counting in June which means the 90days grace will be concluded in this month of August... I want to know if this stay true, also have some investors gotten paid If yes? What is the criteria for this scheduled repayment? I will be expecting your reply, thank you Mary A.A: Hello joy There is no criteria ma Please stay tuned as we disburse capital back to investors in 8 weeks Me: Another 8 weeks after the first 90 days? Is that what you are saying if I get you well? Has any investor been paid at all? No response as we speak |
Re: Menorah Farms: A Ponzy Scheme In Agro Investment? by JoyHephzibah: 12:51pm On Aug 04, 2020 |
JoyHephzibah: Does anyone know of any investor that has been reimbursed so far Is there a way we can take this up legally, preferably, each individual including their so called CEO or founder rather than as a company? |
Re: Menorah Farms: A Ponzy Scheme In Agro Investment? by JoyHephzibah: 12:54pm On Aug 04, 2020 |
Ovi2020: This is the only regret I have now, I noticed their bad customer service at the beginning, I should have paid attention. So you see, real investment will suffer because of this. Scammers in agritech indeed. |
Re: Menorah Farms: A Ponzy Scheme In Agro Investment? by JoyHephzibah: 1:02pm On Aug 04, 2020 |
Stellate: Is there a WhatsApp group I can be added to as well |
Re: Menorah Farms: A Ponzy Scheme In Agro Investment? by BrightEni: 8:13pm On Aug 05, 2020 |
Can we get influencers on twitter to drag them? JoyHephzibah: 1 Like |
Re: Menorah Farms: A Ponzy Scheme In Agro Investment? by Oyebeesee: 1:33am On Aug 12, 2020 |
Please, someone should add me too to the WhatsApp platform. I have felt left alone all along until I stumbled on this thread. Those Menorah people are just a bunch of clueless and lazy liers, shifting goal posts and saying a lot of incoherent nonsense. 1 Like |
Re: Menorah Farms: A Ponzy Scheme In Agro Investment? by BaesDiary: 9:34pm On Sep 05, 2020 |
Has anyone heard from Menorah? Can I be added to the whatsapp group. I just read that the owner of another fraud agritech business has bn arrested, I hope the law goes for this same set of people called Menorah 1 Like |
Re: Menorah Farms: A Ponzy Scheme In Agro Investment? by LadySarah: 2:57am On Sep 06, 2020 |
emmanuelewumi: Truth. |
Re: Menorah Farms: A Ponzy Scheme In Agro Investment? by BaesDiary: 12:43am On Dec 14, 2020 |
Any update guys? |
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