Exclusive: after Cbex, another Ponzi cancels investors’s funds

Daud Olatunji

Barely weeks after the collapse of the controversial CBEX platform, the panic is once again crossing the Nigeria digital investment community while another suspicious Ponzi scheme, E-Wealth, has left dozens of blocked and unable to access their funds.

The time of the platform have collected exclusively that electronic care, which has promised investors an incredible 50% return on capital, is now at the center of a financial dispute after introducing a new policy that requires users to “recommend” a further 50% of their original investment before the withdrawals are approved.

The Times platform reports that this move has aroused indignation, confusion and despair among investors, many of whom claim to have borrowed heavily to participate in the regime.

“I took a loan to invest,” said a victim at Platform Times. “They asked us to pay more money again before they can even access what we already hit. I paid the recommendation fee and I still can’t take a penny.”

Multiple testimonies indicate that even those who respected the new policy remain unpaid weeks after satisfying the condition of recommendation.

In the meantime, the promotional messages of the platform continue to solicit members to “remain busy” and believe in the vision of electronic wealth, feeding the suspicions that the scheme is on the edge of the collapse.

In a worrying development, it has been reported that some security agents are among the injured investors.

The Times platform also reports that one of these cases involved a police officer whose investment N10.000 has been blocked in limbo.

After failed attempts to recover his money, the officer would have faced a local leader of electronic wealth, threatening a legal action.

The situation intensified to the point where more than a dozen electronic wealth leader accompanied the accused in a police station to defend the platform.

According to one of the leaders, they were able to convince the complaint to “recommend” instead of requesting a refund.

The leader said that the meeting ended not only with the denunciant who moved back, but with the police officers and a lawyer who expressed interest in joining the regime: a development that many critics see as part of the elaborate facade often used to legitimizing the Ponzi schemes.

However, on social media and on WhatsApp forums, many other investors express growing skepticism and crack.

“Imagine being asked to recommend your last money, without even seeing the initial profit,” he complained about an investor.

“People are selling properties, taking loans and are hungry only to keep up with this system.”

Another frustrated participant wrote: “I haven’t ate correctly for three days. I put all my money in electronic wealth, even my brother. Now there is nothing left.”

The recourse continues to grow, with invitations to the competent authorities, including the Commission for economic and financial crimes (EFCC), to investigate the platform.

The critics argue that the system has a surprising similarity with fraudulent operations passed like Mmm, which collapsed in a spectacular way in Nigeria in 2016, sweeping off the Naira billions in the savings of citizens.

While electronic wealth claims to be the “project of God” and continues to operate under the pretext of the financial empowerment, the affected Nigerians ask for the responsibility, transparency and return of their funds earned hard.

At the time of the press, the management of electronic care had not responded to investigations on the legitimacy of the recommendation policy or when investors would have been paid.

The time of the platform met that Ponzi was led by a Mrs. Ada Ijeoma Aka Ada Dollar and 001.

Attempts to make his reaction fail as he has not yet replied to the message sent to his mobile phone.

Do you want to share a story with us? Do you want to advertise with us? Do you need advertising for a product, service or event? Contact us on WhatsApp +2348183319097 email: platformtimes@gmail.com

We commit ourselves to an investigative journalism of great impact for human interest and social justice. Your donation will help us tell other stories. Please give any amount HERE