These investment scammers will never be tired.
Years ago, a relative came to meet my dad about a wonderful investment. She had put money into and gotten her capital plus profit as at when promised.
She wanted my dad to join.
My dad asked pertinent questions. He then declined to join. He said no one was making such returns on investments in the capital market. It was a scam. My dad was a chartered accountant/fellow with ICAN and ACCA. He had schooled at London School of Accountancy.
My relative did not hear word.
She went around and gathered millions. Borrowed, sunk in her gratuity and placed the money in the hands of the so-called investors.
These investment scammers had an office in a good area. One day, they did not open up. And that was it. No one knew where they were; and even who they really were.
My relative lost everything. She was even arrested by people she was owing. All her pension goes to debt repayment. She never recovered. She aged overnight.
We saw it with MMM. We have seen it replicated since then.
The latest business to be accused of being a scam is EATRICH. It is ran by Sam Afolabi. People have sunk in money and so far it is looking like their cash is lost forever.
I hope the lessons of how these Ponzi schemes change hats is clear to you all.
Unfortunately, some have lost money already. No one has to again.
To get your money, investment scammers will say anything. Promise anything. The onus is on you to look beyond what anyone says.
I mean ANYONE.
1. If your twin cashed out it is not reason enough to believe it isn’t a scam. In all these Ponzi schemes, people get paid initially. So your mother vowing that she got her money back means nothing.
2. Don’t give two seconds worth of time to people who bring investment opportunities who have no credible background in finances and economics. Your pastor and his Rhema means little. I have heard of pastors who have banked on how their congregants listen to them to encourage investment schemes. Sweet words don’t apply to the rules of money. All the FADAMA etc. in Jos should teach you a lesson.
3. Listening to investment scammers doesn’t mean you should lose your brain. If you can’t understand how your money will be grown, don’t give it out. I didn’t understand MMM. Where are they getting the money to pay out that real financial institutions don’t know about? I kept asking myself. It didn’t make sense. Even if you want to try it, rent money is not capital. School fees is not capital. You don’t borrow to give someone to invest for you. You can borrow to start a business. Borrow to grow a business. But don’t borrow to hand over to someone to grow wealth for you.
4. At this point you should know when an ROI promise will be a lie. Bring 500k. Be getting 50k every month for 10months. Then your capital will be returned. This will mean you made 500k. Lies. All lies.
5. My neighbour once came to share an investment opportunity with me. It wasn’t a Ponzi thing. She had a good friend that made boxers.
Business had been good so the friend was looking to expand. It was all laid out. How much will yield this amount…ready supplies guaranteed in Abuja. My neighbour had an answer to every question. But one thing struck me. All she was riding on was what her friend said.
I trust my neighbour but I didn’t know the friend. I declined. My neighbour went ahead and put in money. Na there story start. Story no dey start when your money is with you. Na after.
Nothing happened like she said. To the point that she claimed she was ill. At some point, she even claimed her account had been frozen. It took almost a year before my friend got her capital.
No interest sef. My take is that this woman used this money to make money before returning at her convenience. What is my point? You really don’t know people.
6. In this Lagos I have vowed never to put money in something I can’t actively supervise. I won’t open shop for anyone to run just like that. Unless it is where I can be stopping by all the time. I won’t be sending money to anyone to start a poultry or piggery for me. If I can’t see it, e go hard. Even hire purchase we no do again. My nanny, feeling like an investor, sent money home because an aunt persuaded her to put down money for a calf. The idea was it will be reared and sold in adulthood. Two years later. No cow. No money. Her uncle pressured her to send money – 40k, to start a poultry. Eighteen months later, no chicken. No money.
It is rare for money you place in other people’s hands to grow stupendously. It is better you are patient and start out things in a small manner.
Become financially literate.
No one is out there waiting to make you rich.
If they are courting you to bring your money, you are their get rich plan.
Especially as country don hard.
It is better you wack your own money than to hand over cash you worked hard to get over to someone who will simply live a rich life on you.
It is not only Big Brother Naija you should use to shine your eyes.