Some victims of Ponzi schemes have lamented their losses on their investment worth billions of Naira.
Some of the victims who spoke to the News Agency of Nigeria (NAN) in Abuja on Sunday, also appealed to the Securities and Exchange Commission (SEC) to step up actions against the schemes by fishing out and stopping them early before they achieved their dubious aim.
They also advised citizens against investing in the platforms, saying their operations were filled with cruelty and criminality.
Ikenna Osuoha, a victim of one of the schemes, said he was swindled of his hard earned money of more than N700,000.
Osuoha alleged that some operatives of the scheme known as ‘e-wet connect’ had threatened him when he confronted them with his reports to SEC and the Economic and Financial Crimes Commission (EFCC).
He said that the company was still going around organising seminars and workshops for citizens in states.
”I want to use this medium to alert Nigerians of illicit operation of some Ponzi schemes which I am a victim of .
”I am also calling on Nigerians to beware of such schemes as their modus operandi is to organise seminars, workshops,” he said.
Emmanuel Atuma, a victim of the recent Crypto Bridge Exchange (CBEX) said he lost 300 dollars to the scheme.
Atuma who wondered why CBEX resumed its operations, called on SEC and the necessary regulatory actions to take decisive steps toward bringing the operators to book.
Read also: Why Nigerians keep falling victim of Ponzi scheme – experts
He said that bringing CBEX operators to book would serve as a deterrent to those planning to lure people into the scheme.
”The Investment and Securities Tribunal must ensure they facilitate the judgement of any Ponzi scheme case brought before it so that others will learn,” he said.
Elizabeth Okechukwu, a victim of the Mavrodi, Mavrodi, and Melnikova (MMM) Ponzi scheme, said that citizens fell prey to the scheme due to greed and undue quest for money.
Okechukwu advised citizens to quit money doubling mind-set and work for their monies.
Osaro Musa, a business lady, said she invested her trade settlement money in a Ponzi scheme thinking it would double so that she could use it to start up her own business.
”These people are so heartless. They collected my money and promised to double the N100,000 I got from my Madam after serving her for six years.
”It was so frustrating that I had to do some many things to replace the money,” she said
Meanwhile, SEC had vowed to take decisive action against illegal fund operators and prosecute those who refused to stop their fraudulent activities.
Frana Chukwuogor, the Commission’s Executive Commissioner, Legal and Enforcement said’ we want to saturate everywhere, saturation is my favorite word, it means that there will be no room to do anything more.
”We are here to spend time with people having realised that the issue of Ponzi schemes menace is affecting and spreading all over the place and they are deceiving and collecting peoples’ money, especially from traders in the market.
”We have seen people lose their life savings, their businesses, and their peace of mind.
”That is why we are taking this message to the markets, motor parks, online platforms—anywhere Nigerians are making financial decisions because prevention through education is our first line of defence,” she said.
