You know how some religious leaders tell their followers that if they pray hard enough and donate tons of money to their organisation, their gods will bless them with wealth? These claims are often made in the same spirit in which scam artists present fantastical investment schemes to their victims.
The promise of such rich blessings from an almighty “investment plan” is too much for many people to resist—who wouldn’t want wealth without having to work for it? Alas, it’s this kind of thinking that’s gotten thousands of East Africans conned of millions of dollars by scams that look pretty damn dodgy to regular folks like you and me. Here are 5 of the most recent, and most notorious.
The latest fraudulent scam that claims to be trading in forex and other crypto currencies just opened a few days ago under the domain name www.amazontraders.co.uk, and things are already not good for the many investors that are putting their money into this scam.
The company gets people into investing money with them with a hope of reaping big through daily returns of 1%, 1.4%, 1.7% and 1.9% depending on how much someone has paid. If these investors had only had a closer look at the company website, complete with poorly photoshopped pictures and a banner containing an egregious grammatical error, they might have smelled a rat. Amazon Traders stands on the possibility that, new people will keep investing money that will pay the previous ones. Mathematically, this cycle can not last more than 8 months, and the possibility of a crush and scamming people’s hard earned money is eminent.
Alexa rankings show that 82% of the traffic is coming from Uganda, a clear indication that, this scam has its roots from that nation, and that its claims of being from the UK are as false as their promise of paying investors for 52 weeks.
A company name containing no spelling errors, well spoken salespeople and a presence in the UK. The company aggressively advertised to try to get people to participate in their investment schemes with a hope that their investment shall buy into the most sought-after mineral-Diamonds.
However, there is nothing like trade in diamonds and this scam has no actual indication of where exactly their money is coming from.
In short, they are robing Peter to pay John with a hope that an Alex will come on board.
Sadly, this kind of ponzi is not new to East Africans. Just a few months back, there came TelexFree and the frenzy was all up in the air. The bubble burst, people lost their money and tears were shed.
Prosperity Clube: They claim to be from Brazil, and that they do sports trading. Armed with a seemingly impressive website yet full of pirated images and content, this scam is just another fraudulent act to fleece people of their hard earned money. The claim that they do sports trading has no evidence. A simple sweep in all records of approved Sports Traders show nothing like Posperity Clube, and their admins are anonymus. Whois databases check also shows hidden and an encryption of their actual identity.
If the admins cannot even reveal their true identity, then their intentions are truly negative.
The disturbing thing is that this isn’t the first time someone’s played the exact same trick. Programs like ADFAST, TESCO TRADERS etc have pulled the exact same stunts and walked away clean with people’s money.
These ponzi schemes are not even smart enough to up their game. They keep bringing back the exact same ridiculous styles and unfortunately, some people keep falling for them.
In my next artciel, I will give you the tricks of identifying a scam and how to avoid them.