Ponzi scheme is one of those oldest form of business where one can said to be making money through networking with others.
In Nigeria, it can be said to have garnered so much cherish and popularity because of its speedy operations and sometimes, fraudulent exhibitions.
Nigerians on the other hand, had fell badly on this form of income generation. As per say, the formerly introduced MMM financially unstable most households. Everyone is on alert, though some prefer risking it.
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A recent report has it that operatives of Economic and Financial Crime Commission, Port Harcourt’s Zonal Office have arrested 19 staff of a fake investment company floating an alleged Ponzi Scheme that have defrauded members of the public to the tone of ₦2,000,000,000.
As gathered, the company, Bluekey Investment Club, operating from Sonia Mall, 42 Woji Road, YKC Junction, Port Harcourt, Rivers State, was registered with the Corporate Affairs Commission( CAC) as a Software Development and General Contracting Firm.
However, it veered into an interest-yielding Ponzi Scheme with 10% weekly returns on investment over 6 Months. The Scheme also promised total returns of invested capital after six 6 Months.
Nineteen(19) staff of the company were rounded up on Friday, August 30, 2019 in Port Harcourt. Among them are five Principal Officers: Princess Tsaroigbara( Public Relations Officer); Onwusa Frances Chineze( Accountant); Naabe Gunugu( Payment Confirmation Staff), Tambari Success( Customer Service) and Anorue Maureen( Receptionist).
Moreover, the Chairman of the company, Neenwi Swanu was at large as at the time of arrest. Several defrauded customers thronged the premises of the Company seeking the intervention of the EFCC.
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