Tuesday, September 27, 2016

Ponzi Scheme again - Zimbabwe

It's amazing that people will never learn.  There are a number of Ponzi schemes going on right now in Ile-Ife and certainly elsewhere in Nigeria. So we thought to share this news from Zimbabwe.  Kindly point this out to your desperate colleague who thinks he/she has found the way out of the recession.

And talking about recession, the Bible makes it clear that the LORD has got all things settled, from the foundation of the world.  He provides for all the creatures as they trust Him and follow His ordained ways and patterns....  The problem is man in cahoot with Mr destroyer, the devil.

According to Scriptures, all those who trust the LORD, no matter their country of abode or times they are living in, the LORD has a pre-planned way of escape for them.  Think of Elijah at Cherith and even at Zarephath.  Think of Israel in the wilderness at the 1st Exodus, and even at the coming period of the antichrist (Rev 12: 6,14).....

The story about the Ponzi is below. As usual, the link to the original story is at the end of the story.

Thousands of people living in Zimbabwe, among them civil servants, vendors and more, were said to have lost thousands of dollars to fraudulent online pyramid scheme MMM Global Zimbabwe after the system collapsed recently. The social financial network, which relied on an accelerating number of new members to pay off the old, abruptly terminated its services without any prior notice last week leaving participants stranded. Share on Facebook Share on Twitter MMM pyramid scheme (bitcoinhub) MMM pyramid scheme (bitcoinhub) Iharare.co reports that these Zimbabweans joined the online investment scheme with the sole aim of “getting rich quickly”. It was said that the Reserve Bank of Zimbabwe warned its people about the system, saying the scheme was fraudulent. The scheme prides itself as a mutual aid fund under which recruited members contribute money to assist others and are promised investment returns of 30 percent per month. Some of the people left counting their losses told The Herald that they received emails that the scheme had been suspended until September 15.  One of the participants, Mr Tinashe Muza of Harare said: “All along things were moving in the right direction and we now have nowhere to claim our investments. When we started putting our funds in the scheme one could get assistance within seven days but things later changed to 14 days and when we were shut out the waiting period was 21 days. What it simply means is that the number of people in need of help has outnumbered the number of people joining. Right now we have nowhere to get our money which we invested.”
 Read details at  https://www.naij.com/982574-popular-mmm-crashes.html?utm_source=mailfire&utm_medium=email&utm_campaign=hundred5_pusher