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FRAUDULENT INVESTMENT SCHEMES RIPPING PEOPLE OFF THEIR HARD EARNED FUNDS

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@winniekal
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If 2021 was a movie, one of my highlights will be how I was ripped off my hard earned money to an investment platform. I can not explain how I fell for such trickery again after my experience with MMM about five years ago. This investment platform did not take the format of MMM and some mini ponzi scheme that I did that year, maybe the way it looked so perfect was what enticed me. Moreover the recommendation and testimony from my neighbor who showed me proofs of his own returns was what gave me the confident that I'm signing up for a legit investment.

Photo by Fizkes from Istockphoto It is appalling how some set of people will come together to set up a company to dupe unsuspecting public. This investment platform is supposed to be an agricultural investment where they will invest our money into a particular agriculture business and after three months of investing we'd start getting about 10% returns on investment. I didn't feel like they would be a scam because they had an office space, with staff not less than ten with branded shirts and all. It looked so real until they defaulted in payment.

It was when my eyes opened that I got to know that the owner of the company have been into such business of defrauding people for a long time. He is fond of opening a new company with a new name and new identity as soon as he is exposed. So what he does is that he will pay the returns of some set of people who will then become a preacher of his business, not knowing that it is all a set up to lure more people to the fraudulent investment platform.

Photo by Cnythzl from Istokphoto

The number of lives that have been ruined due to fraudulent platforms like this cannot be counted. There are people who invested all their money in the so-called business so that they can be assured of monthly returns rather than just keeping the money in the bank. I met an old woman who was looking very dejected at their office when I went to complain about not receiving my returns after five months, she said she invested her gratuity in the business hoping that she will be using the returns to feed and buy drugs every month. Now, she's as empty as anything you can think of.

Well, 2021 is last time I will be losing my money to any investment. I have decided not to pay attention to any investment that have unbelievable ROI, no matter how real it looks like. These people are quite smart, they make their returns look too good to reject. I have learnt my lessons even though it hurts as I pen this down. This should be an eye opener for everyone not to invest in anything that looks like ponzi schemes, even if they pay you once or twice they will still find a way to rip you off all that you have collected.

Don't lose your guard. Always be at alert and don't fall prey to any fraudulent scheme.