When and how did Ponzi scheme started?

[Damscooguns73]

Concerning ponzi scheme and how it started. Well, it has been explained to detail of how it came to existence. The scheme is a very fraudulent one, an individual can never can tell when it is going to crash or who is the head of the scheme. It promises to make people earn outrageous amount of profit in short period of time.

 

[Heatman]

This ponzi scheme is being controlled by the one has the power in the country or being like as the known person the country then they start this ponzi business just to fool the other by making investing their money then will get a return in month while incrementing it without doing nothing.

I can't forget my experience with MMM back in 2015 to 2017, it was a shocking experience for most people in South Africa and Nigeria as millions of people were rendered useless by the Marvodi company that ran the MMM ponzi scheme. I lost 1.5 million Naira to the ponzi, and as I did not die then, I won't die again.

 

[lelakil3]

I can't forget my experience with MMM back in 2015 to 2017, it was a shocking experience for most people in South Africa and Nigeria as millions of people were rendered useless by the Marvodi company that ran the MMM ponzi scheme. I lost 1.5 million Naira to the ponzi, and as I did not die then, I won't die again.

It is a huge amount buddy a 1.5million what happen to the ponzi scheme there member already arrested or they escape ? they must pay the money that they scam on you and to others if they can't so they will be put in prison.

 

[Heatman]

It is a huge amount buddy a 1.5million what happen to the ponzi scheme there member already arrested or they escape ? they must pay the money that they scam on you and to others if they can't so they will be put in prison.

It was indeed a huge amount of money because I was actually looking at cashing out big from the investment. Greed is a very wicked thing and it's what makes people lose a lot of money if not careful.

The owner wasn't arrested but people became afraid to invest in scheme after they went for one month break in December, that's what killed the ponzi.

 

[Lyrrex]

I really despise Ponzi scheme and I hope this fraudulent act becomes null and void soon. Only the first set of people that pertake in any Ponzi scheme enjoys their package and it doesn't even lasts. So what's the essence of indulging in it?..

 

[Nma]

ponzi scheme is just a fraudulent business which was created by people who are lazy to work and want quick money.... ponzi schemes always end up crashing... all the time.... it might seem good and juicy at first but it always ends in tears

 

[Donkiz]

The success of Ponzi scheme is usually made possible because of peoples greed. Fraudsters capitalizes on people's desperation, to sell an unsustainable business model to them, which usually ends with lots of people losing their hard earned money.

 

[lelakil3]

It was indeed a huge amount of money because I was actually looking at cashing out big from the investment. Greed is a very wicked thing and it's what makes people lose a lot of money if not careful.

The owner wasn't arrested but people became afraid to invest in scheme after they went for one month break in December, that's what killed the ponzi.

ahh i see you really want to earn money so that's you take the risk we can call it business ya we all do greed things or just in natural greedy, it so sad that they not face a criminal case on such scam they did to people.

 

[Cybersec]

I still wonder how people fall for this ponzi scheme of a thing
Common how can someone possibly tell you that you will double your capital in twenty four hours and you will go ahead to invest in such thing, that is you are heading to disaster
At first ponzi scheme may appear as if it pays but in long run you will regret it

 

[Emma Aneni]

Come on how can someone possibly tell you that you will double your capital in twenty four hours and you will go ahead to invest in such thing, one is only heading to his doom due to greediness. This scheme is not worth it.

 

[eenya00]

My journey into Ponzi scheme has been a regrettable one, I wish I never started it at the first place, remembering it now even is causing me depression because of the great loss I suffered on Ponzi scheme if you're reading this please avoid any form of Ponzi scheme for your own good because at the end you're losing who greatly outweigh your gain

 

[Abelcairo43]

Ponzi schemes always attract unfortunate investors by preying on their greed and desperation. If people can control their greed, ponzi schemes will not work. But unfortunately more and more ponzi schemes are popping up everyday and people still fall for their scam.

 

[Heatman]

ahh i see you really want to earn money so that's you take the risk we can call it business ya we all do greed things or just in natural greedy, it so sad that they not face a criminal case on such scam they did to people.

Yeah, I was pretty much greedy with that investment because I had a plan I was looking at setting up with the investment cash out but in the end, I lost everything. It didn't take long and the owner of the ponzi scheme MMM died of heart attack. He was a Russian and there was no way of getting the opportunity to sue him even before his death.

 

[Mariyam]

Ponzi scheme is a fraudulent scheme that attract many with the high rate of return, many people have fallen victim of Ponzi schemes because of the high return they promise to give out and at the long run they run away with your money.
Although I have never fallen prey of any because I Know some warning signal that tells me a business is a scam or not

In January 1920, Ponzi started his own company, the "Securities Exchange Company," to promote the scheme. In the first month, eighteen people invested in his company with a total of $1,800. He paid them promptly, the very next month, with the money obtained from the newer set of investors.

 

[Goodday]

I don't really know when Ponzi scheme started but l know it would be in the system for long because the scammers were there by then but the recent ones are just updating the skills. Even in offline businesses, some are Ponzi scheme and this will tell you how long it has been in the system.

 

[Vladv26]

Unfortunately, many people fall in the trap of ponzi schemes not knowing how to recognize such type of fraudulent businesses. Not all ponzi schemes promise big returns to its investors so that they don't look too shady to the investors so people can easily fall in the trap and lose their money if they are not careful enough

 

[tuna89]

Charles Ponzi has really caused a lot of issues and fraud especially for greedy people, hyips and ponzis tend to pay at the start and cart away people's cash, if you are the greedy type, you would definitely lose big time. I lost about 200usd last year to emine.co , a ponzi that promised double.

 

[Heatman]

Charles Ponzi has really caused a lot of issues and fraud especially for greedy people, hyips and ponzis tend to pay at the start and cart away people's cash, if you are the greedy time, you would definitely lose big time. I lost about 200usd last year to emine.co , a ponzi that promised double.

Over here in Nigeria, we have lost count of how ponzi that have existed and that are still going on currently. From the likes of MMM, Ultimate Cycler, Esusu me, ipay, Flip cash, Twinkas, and so on. All these ponzi have killed some people and funny enough people still put their money in new ones that are coming out.

 

[lelakil3]

Yeah, I was pretty much greedy with that investment because I had a plan I was looking at setting up with the investment cash out but in the end, I lost everything. It didn't take long and the owner of the ponzi scheme MMM died of heart attack. He was a Russian and there was no way of getting the opportunity to sue him even before his death.

im confused about what MMM is, will it be MMM that from anonymous they will gather out in every November 5th of the year? So sad in your investment this should a lesson for you, us and everyone.

 

[Khezo]

It all started when it was noticed that slot of people need money and would do anything to get it. People used this fact to start creating fake sites and all to start milking people which I would say is bad