https://www.investor.gov/protect-your-investments/fraud/types-fraud/ponzi-scheme
More about Ponzi Scheme and how to detect it
A Ponzi scheme is an investment fraud that pays existing investors with funds collected from new investors. Ponzi scheme organizers often promise to invest your money and generate high returns with little or no risk. But in many Ponzi schemes, the fraudsters do not invest the money. Instead, they use it to pay those who invested earlier and may keep some for themselves.

With little or no legitimate earnings, Ponzi schemes require a constant flow of new money to survive. When it becomes hard to recruit new investors, or when large numbers of existing investors cash out, these schemes tend to collapse.

Ponzi schemes are named after Charles Ponzi, who duped investors in the 1920s with a postage stamp speculation scheme.

Ponzi scheme “red flags”
Many Ponzi schemes share common characteristics. Look for these warning signs:

High returns with little or no risk. Every investment carries some degree of risk, and investments yielding higher returns typically involve more risk. Be highly suspicious of any “guaranteed” investment opportunity.
Overly consistent returns. Investments tend to go up and down over time. Be skeptical about an investment that regularly generates positive returns regardless of overall market conditions.
Unregistered investments. Ponzi schemes typically involve investments that are not registered with the SEC or with state regulators. Registration is important because it provides investors with access to information about the company’s management, products, services, and finances.
Unlicensed sellers. Federal and state securities laws require investment professionals and firms to be licensed or registered. Most Ponzi schemes involve unlicensed individuals or unregistered firms.
Secretive, complex strategies. Avoid investments if you don’t understand them or can’t get complete information about them.
Issues with paperwork. Account statement errors may be a sign that funds are not being invested as promised.
Difficulty receiving payments. Be suspicious if you don’t receive a payment or have difficulty cashing out. Ponzi scheme promoters sometimes try to prevent participants from cashing out by offering even higher returns for staying put.

[/quote][quote author=Chibuking81 post=92815070]

https://www.bellanaija.com/2018/10/efcc-investigating-brothers-over-n2bn-forex-scam/

https://www.dnb.com/business-directory/company-profiles.mba_forex_and_capital_investment_limited.086ff4f19571a2d63fef93b68223cbdb.html

https://www.mbatrades.com/about

They are all one and the same, check their address. Even if they are different, they still remain one and the same Ponzi scheme, without SEC regulation.

Whatever way, I see this organization as Ponzi, even if it has lasted for some years. I will never advice anyone to invest in it, because many will still fall victim one day. Most especially this period the awareness has becoming much. I know many of their faithful will come after this post. But I have done my part. It's purely modernize MMM.
Question
1. What business did MMM claimed to be into ?
Answer; social financial network
In 2015, MMM began operating in South Africa with the same business model as MMM-2011, claiming a "30% per month" return through a "social financial network". https://en.m.wikipedia.org/wiki/MMM_Global

2. What business did MBA claimed to be into ?
Answer; forex
MBA TRADING- (RC 1478221) This platform enables, investors to earn up to 15% ROI (return on investment) every 30 days.) https://www.linkedin.com/in/mbatradingcil/?originalSubdomain=ng

3. The MMM groups, are they still in Ponzi business?
Answer; yes (with modernize method)

If you are looking for a certified place to invest, a place that have government regulations through Securities and Exchange Commission (SEC) https://sec.gov.ng
( You can always call their contact to verified the organizations that are certified by them http://www.sec.gov.ng/Market_Relations/contact-us/ Telephone: +234 (0) 9462 1168)
1. Invest your money in Nigeria stock exchange market (NSE)
2. Invest in Nigeria treasure bill
4. Invest in Federal government bond
Or better still use your money for business.
Don't invest in Ponzi, (rob Peter to pay Paul) kind of business.

Meaning of Ponzi scheme
A Ponzi scheme is an investment fraud that pays existing investors with funds collected from new investors. Ponzi scheme organizers often promise to invest your money and generate high returns with little or no risk. But in many Ponzi schemes, the fraudsters do not invest the money. https://www.investor.gov/protect-your-investments/fraud/types-fraud/ponzi-scheme

https://nairametrics.com/2020/04/01/sec-discovers-12-ponzi-scheme-operators-warns-the-investing-public/

why you dey waste your precious data?
Leave them to invest.

Chibuking81:


https://www.bellanaija.com/2018/10/efcc-investigating-brothers-over-n2bn-forex-scam/

https://www.dnb.com/business-directory/company-profiles.mba_forex_and_capital_investment_limited.086ff4f19571a2d63fef93b68223cbdb.html

https://www.mbatrades.com/about

They are all one and the same, check their address. Even if they are different, they still remain one and the same Ponzi scheme, without SEC regulation.

Whatever way, I see this organization as Ponzi, even if it has lasted for some years. I will never advice anyone to invest in it, because many will still fall victim one day. Most especially this period the awareness has becoming much. I know many of their faithful will come after this post. But I have done my part. It's purely modernize MMM.
Question
1. What business did MMM claimed to be into ?
Answer; social financial network
In 2015, MMM began operating in South Africa with the same business model as MMM-2011, claiming a "30% per month" return through a "social financial network". https://en.m.wikipedia.org/wiki/MMM_Global

2. What business did MBA claimed to be into ?
Answer; forex
MBA TRADING- (RC 1478221) This platform enables, investors to earn up to 15% ROI (return on investment) every 30 days.) https://www.linkedin.com/in/mbatradingcil/?originalSubdomain=ng

3. The MMM groups, are they still in Ponzi business?
Answer; yes (with modernize method)

If you are looking for a certified place to invest, a place that have government regulations through Securities and Exchange Commission (SEC) https://sec.gov.ng
( You can always call their contact to verified the organizations that are certified by them http://www.sec.gov.ng/Market_Relations/contact-us/ Telephone: +234 (0) 9462 1168)
1. Invest your money in Nigeria stock exchange market (NSE)
2. Invest in Nigeria treasure bill
4. Invest in Federal government bond
Or better still use your money for business.
Don't invest in Ponzi, (rob Peter to pay Paul) kind of business.

Meaning of Ponzi scheme
A Ponzi scheme is an investment fraud that pays existing investors with funds collected from new investors. Ponzi scheme organizers often promise to invest your money and generate high returns with little or no risk. But in many Ponzi schemes, the fraudsters do not invest the money. https://www.investor.gov/protect-your-investments/fraud/types-fraud/ponzi-scheme

https://nairametrics.com/2020/04/01/sec-discovers-12-ponzi-scheme-operators-warns-the-investing-public/

My dear, you have spoken well. Some of us involve in these schemes because we lack information. I must commend you for introducing us to different investment schemes by FG. I'd like to learn more about the bonds, Treasury bills, etc. Please educate us more. I'm interested and want to invest. Thanks. Looking forward to hearing from you soon

@udebele check my attached folder file in my signature, for little analysis I made on share

Pls honourable colleague help me out, is this site app.nextpayday real or scam? It claims to be giving loan to federal government workers and Rivers State civil servants with office at D line, has anyone heard about them or used them for business? Pls treat as urgent

Abuchi17:
Pls honourable colleague help me out, is this site app.nextpayday real or scam? It claims to be giving loan to federal government workers and Rivers State civil servants with office at D line, has anyone heard about them or used them for business? Pls treat as urgent

Except the rate is far below what other known platform/organization are giving, why try the unknown when you have other known options?
Just thinking aloud......

kingsjeroneyah:

Except the rate is far below what other known platform/organization are giving, why try the unknown when you have other known options?
Just thinking aloud......

Like which options pls

Abuchi17:



Like which options pls

From previous pages, some of our colleagues here have assess Loan from Access bank, Zedvance and the process quite simple.
Depending on your salary and the amount you needed.

kingsjeroneyah:

From previous pages, some of our colleagues here have assess Loan from Access bank, Zedvance and the process quite simple.
Depending on your salary and the amount you needed.

Ok

Abuchi17:
Pls honourable colleague help me out, is this site app.nextpayday real or scam? It claims to be giving loan to federal government workers and Rivers State civil servants with office at D line, has anyone heard about them or used them for business? Pls treat as urgent

I collected from zedvance https://online.zedvance.com/#/onboarding/register?referrer=652421. and was credited within minutes after filling in my details.

NothingLikeLove:


I collected from zedvance https://online.zedvance.com/#/onboarding/register?referrer=652421. and was credited within minutes after filling in my details.

Loan is sweet to take, but repayment bites hard. Lol

sam1980000:


Loan is sweet to take, but repayment bites hard. Lol

Only if u didn't use it judiously, even the richest of countries do borrow in doing business talk more of an average Nigerian struggling to make amends, use your brain when you can, the future looks turf, plan ahead

sam1980000:


Loan is sweet to take, but repayment bites hard. Lol

From the minute one access a loan, the rule is cut your budget to the new take home and it will be easy. But if you still see the sum to be deducted from your money as still part of your own, that's problem breeding.
When plan well and put into proper usage, loan is as good as an asset!

Dear colleagues, just yesterday I was inquiring about a new loan company in town I stumbled upon and behold before 3pm I was credited with 240k I applied for, I was skeptical initially but it turned out to be a wonderful experience, there attention and response was great. I have already invested my sum for convieneint repayment for 9 months.
Am only writing for those who may have need for the loan can make further inquiries with them by contacting them on
www.nextpayday.ng and WhatsApp us on 08095000667.
Pls if you are not interested kindly move forward and don't lambast me, am only sharing for those in need of it.
For those who like investment,well I invested mine with pennywise investment management, if you may want to do that you can contact me on 09033705225 for guidance. Remember for a better tomorrow depends on our good today is, as civil servants we have a time frame. God bless

Good evening mates. Please I want to know if anyone here has requested or gotten a new ID Card after the last biometric, probably due to a damaged one or a misplaced one. If yes, please enlighten me on how u went about it. Thanks a lot.

sam1980000:


Loan is sweet to take, but repayment bites hard. Lol

This can only happen when u collect loan to consume it without returns. If you collect loan to invest/generate more money you'll have nothing to worry about. That's the essence of loan anyway.

Abuchi17:
Dear colleagues, just yesterday I was inquiring about a new loan company in town I stumbled upon and behold before 3pm I was credited with 240k I applied for, I was skeptical initially but it turned out to be a wonderful experience, there attention and response was great. I have already invested my sum for convieneint repayment for 9 months.
Am only writing for those who may have need for the loan can make further inquiries with them by contacting them on
www.nextpayday.ng and WhatsApp us on 08095000667.
Pls if you are not interested kindly move forward and don't lambast me, am only sharing for those in need of it.
For those who like investment,well I invested mine with pennywise investment management, if you may want to do that you can contact me on 09033705225 for guidance. Remember for a better tomorrow depends on our good today is, as civil servants we have a time frame. God bless

PLEASE CORRECT ME IF I'M WRONG
A friend invested $221(about #100,000) in Pennywise Investment Management some time last month. On daily basis she watched her ROI grow till it got to $150. She requested to cash out some money into her wallet but was told she can only withdraw $30 at a time, and this would take four(4) days to reflect in her wallet.

To cut the long story short, three (3) days ago, she received a mail from Pennywise requesting for a maintenance fee of $50 to be paid within 48hours or risk being blocked.

While still in bewilderment as to why Pennywise as it were, would not just deduct the said maintenance fee from her accruables, just yesterday, her account was blocked, and now as I type, she can no longer access the site. Her capital gone, ROI gone.

Could you please confirm this modus operandi?

econspres24:


PLEASE CORRECT ME IF I'M WRONG
A friend invested $221(about #100,000) in Pennywise Investment Management some time last month. On daily basis she watched her ROI grow till it got to $150. She requested to cash out some money into her wallet but was told she can only withdraw $30 at a time, and this would take four(4) days to reflect in her wallet.

To cut the long story short, three (3) days ago, she received a mail from Pennywise requesting for a maintenance fee of $50 to be paid within 48hours or risk being blocked.

While still in bewilderment as to why Pennywise as it were, would not just deduct the said maintenance fee from her accruables, just yesterday, her account was blocked, and now as I type, she can no longer access the site. Her capital gone, ROI gone.

Could you please confirm this modus operandi?

Every account holder pays a one time maintenance fee of $50 me too I paid on my two accounts, it's normal, if you don't pay within the 48hours your account will be suspended not wiped out, you may not be able to receive returns and make withdrawal, now on the withdrawal of only $30 every account has a withdrawal limit considering the size of your account and due to frequent withdrawal that's why every account is regulated to withdraw every 4days at most. Always read your notice on your dashboard, since Monday the went into maintenance to restore the automated withdrawal system which will be effective from this Friday so tell your friend to try logging in by Friday, the account may have all been restored but the truth is, the maintenance fee must be paid if not you will just be viewing the account and no progress will be made in terms of returns. Read the FAQ section for clarity on this. Pennywise will never alter an invested amount that is why they will not take it from your money already with them. Join forums on pennywise on Facebook to be properly informed. Hope it helps

Today is 19th , yet no FAAC meeting has been held, this is a little strange

gold360:
Today is 19th , yet no FAAC meeting has been held, this is a little strange

expect FAAC information on or before saturday .The meeting may hold tonight or thursday night .

Abuchi17:



Every account holder pays a one time maintenance fee of $50 me too I paid on my two accounts, it's normal, if you don't pay within the 48hours your account will be suspended not wiped out, you may not be able to receive returns and make withdrawal, now on the withdrawal of only $30 every account has a withdrawal limit considering the size of your account and due to frequent withdrawal that's why every account is regulated to withdraw every 4days at most. Always read your notice on your dashboard, since Monday the went into maintenance to restore the automated withdrawal system which will be effective from this Friday so tell your friend to try logging in by Friday, the account may have all been restored but the truth is, the maintenance fee must be paid if not you will just be viewing the account and no progress will be made in terms of returns. Read the FAQ section for clarity on this. Pennywise will never alter an invested amount that is why they will not take it from your money already with them. Join forums on pennywise on Facebook to be properly informed. Hope it helps

This will sure help. Many thanks.

Greetings to u all....pls is anyone aware of any teacher's workshop going on at elekahia? Tnx.

Joyincrease:
Greetings to u all....pls is anyone aware of any teacher's workshop going on at elekahia? Tnx.

yes , there are other venues too apart from elekahia,.. Its slated for tomorrow

The Federation Account Allocation Committee has allocated the sum of N676.407 billion as federal allocation for the month of July, 2020.

FAAC: FG, States and LGCs share N676.407bn for July 2020.

The Federation Accounts Allocation Committee (FAAC) at its virtual meeting chaired by the Permanent Secretary, Federal Ministry of Finance, Budget and National Planning, Dr. Mahmoud Isa- Dutse, shared to the three tiers of government, a total sum of N676.407 billion as federation allocation for the month of July, 2020.

From this amount, inclusive of VAT, the Federal Government received N273.189 billion, the States received N190.849 billion, the Local Government councils got N142.761billion, while the oil producing states received N42.851 billion as derivation (13% of Mineral Revenue) and Cost of Collection/Transfer and Refund got N26.757 billion.

The communique issued by the Federation Account Allocation Committee (FAAC) at the end of the meeting, indicated that the Gross Revenue available from the Value Added Tax (VAT) for July, 2020 was N132.619 billion against N128.619 billion distributed in the preceding month of June, 2020, resulting in an increase of N3.793 billion. The distribution is as follows; Federal Government got N18.500 billion, the States received N61.668 billion, Local Government Councils got N43.168 billon, while Cost of Collection/Transfer and Refund got N9.283 billion.

The distributed Statutory Revenue of N543.788 billion received for the month was higher than the N524.526 billion received for the previous month by N19.262 billion, which the Federal government received N254.688 billon, States got N129.181 billion, LGCs got N99.593 billion, Derivation (13% Mineral Revenue) got N42.851 billion and Cost of Collection/ Transfer and Refund got N17.474 billion.

The communique also revealed that Oil and Gas Royalty, Petroleum Profit Tax (PPT), and Value Added Tax (VAT) increased considerably, while Companies Income Tax (CIT), Import and Excise Duty recorded decreases.

The total revenue distributable for the current month including Value Added Tax (VAT), according to the committee is N676.407 billion.

[quote author=temple4real post=93026441]FAAC: FG, States and LGCs share N676.407bn for July 2020.

good News Permanent Secretary, Federal Ministry of Finance, Budget and National Planning, Dr. Mahmoud Isa- Dutse, shared to the three tiers of government, a total sum of N676.407 billion as federation allocation for the month of July, 2020.

From this amount, inclusive of VAT, the Federal Government received N273.189 billion, the States received N190.849 billion, the Local Government councils got N142.761billion, while the oil producing states received N42.851 billion as derivation (13% of Mineral Revenue) and Cost of Collection/Transfer and Refund got N26.757 billion.

The communique issued by the Federation Account Allocation Committee (FAAC) at the end of the meeting, indicated that the Gross Revenue available from the Value Added Tax (VAT) for July, 2020 was N132.619 billion against N128.619 billion distributed in the prece

If one person give or share the information about FAAC is it not ok rather than filling the whole thread with FAAC news?

GamaG:
The Federation Account Allocation Committee has allocated the sum of N676.407 billion as federal allocation for the month of July, 2020.

https://economicconfidential.com/2020/08/faac-fg-states-and-lgcs-share-n676-407bn-for-july-2020/
Payment to come on or before Friday 28th August, 2020.

Abuchi17:
Dear colleagues, just yesterday I was inquiring about a new loan company in town I stumbled upon and behold before 3pm I was credited with 240k I applied for, I was skeptical initially but it turned out to be a wonderful experience, there attention and response was great. I have already invested my sum for convieneint repayment for 9 months.
Am only writing for those who may have need for the loan can make further inquiries with them by contacting them on
www.nextpayday.ng and WhatsApp us on 08095000667.
Pls if you are not interested kindly move forward and don't lambast me, am only sharing for those in need of it.
For those who like investment,well I invested mine with pennywise investment management, if you may want to do that you can contact me on 09033705225 for guidance. Remember for a better tomorrow depends on our good today is, as civil servants we have a time frame. God bless

Hope you are aware Penny-wise has crashed

NothingLikeLove:


Hope you are aware Penny-wise has crashed

It has not, they don't have reason to crash it

Abuchi17:


It has not, they don't have reason to crash it

Site that has completely gone off and never came back after the said 21st August u said earlier. Its Not even found on Google anymore. It's telegram page deactivated. Or are you part of the Penny-wise crew? Because I heard it's a group of port Harcourt scammers that's behind that Penny-wise.

NothingLikeLove:


Site that has completely gone off and never came back after the said 21st August u said earlier. Its Not even found on Google anymore. It's telegram page deactivated. Or are you part of the Penny-wise crew? Because I heard it's a group of port Harcourt scammers that's behind that Penny-wise.

Believe whatever you like, that's your business