ECONOMIC EFFECT AND DISADVANTAGE OF PONZI SCHEMES TO THE NIGERIAN ECONOMY
PONZI SCHEME
A Ponzi scheme is a fraudulent investment operation where the operator, an individual or organization, pays returns to its investors from new capital paid to the operators by new investors, rather than from profit earned through legitimate sources. Operators of Ponzi schemes usually entice new investors by offering higher returns than other investments, in the form of short-term returns that are either abnormally high or unusually consistent.
Ponzi schemes occasionally begin as legitimate businesses, until the business fails to achieve the returns expected. The business becomes a Ponzi scheme if it then continues under fraudulent terms. Whatever the initial situation, the perpetuation of the high returns requires an ever-increasing flow of money from new investors to sustain the scheme.
ponzi schemes capitally take away the consciousness of creativity and social service from nigerian youth. As it is rather known to be infamous in its dealing and ability to steal youthful energy, which should be invested aright for a better Nigeria, it daunts the cyberspace of Nigeria's internet sphere with millions of youth believing that the only way to HAMMER(make it financially) is top be convertuous.
According to alexa.com, mmm is the 10th most visited site in Nigeria... you that is going through this writeup should pray for Nigeria and its youths, so that our fate and future, would be changed and preserved. Pathetically, the most used verbal phrases in vogue in various social classes would serve as a worthy parameter to interpret the doom that lies ahead. remeber, " A NATION WITHOUT VISION IS LIKE A BLIND MAN TRYING TO CROSS A MAJOR HIGHWAY WITHOUT A GUIDE " Nigerian youths need to change their spectral prioties in other for our nation to have a future.
PONZI SCHEME
A Ponzi scheme is a fraudulent investment operation where the operator, an individual or organization, pays returns to its investors from new capital paid to the operators by new investors, rather than from profit earned through legitimate sources. Operators of Ponzi schemes usually entice new investors by offering higher returns than other investments, in the form of short-term returns that are either abnormally high or unusually consistent.
Ponzi schemes occasionally begin as legitimate businesses, until the business fails to achieve the returns expected. The business becomes a Ponzi scheme if it then continues under fraudulent terms. Whatever the initial situation, the perpetuation of the high returns requires an ever-increasing flow of money from new investors to sustain the scheme.
This scheme was actually named after charles ponzi, who became notorious for using the technique in 1920, back in
the United States Of America.
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| charles ponzi |
ponzi schemes in nigeria
- UTIMATECYCLER
- GIVERSFORUM(giversforum.net)
- MM
- ZARFUND
- DOUBLE CASH
- ICHARITY CLUB
- CROWDRISING
Devastating effect
This ponzi schemes have but only one devastating effect, which i would classify as been both ideological and psychological.ponzi schemes capitally take away the consciousness of creativity and social service from nigerian youth. As it is rather known to be infamous in its dealing and ability to steal youthful energy, which should be invested aright for a better Nigeria, it daunts the cyberspace of Nigeria's internet sphere with millions of youth believing that the only way to HAMMER(make it financially) is top be convertuous.
According to alexa.com, mmm is the 10th most visited site in Nigeria... you that is going through this writeup should pray for Nigeria and its youths, so that our fate and future, would be changed and preserved. Pathetically, the most used verbal phrases in vogue in various social classes would serve as a worthy parameter to interpret the doom that lies ahead. remeber, " A NATION WITHOUT VISION IS LIKE A BLIND MAN TRYING TO CROSS A MAJOR HIGHWAY WITHOUT A GUIDE " Nigerian youths need to change their spectral prioties in other for our nation to have a future.
verbal phrases in vogue because of ponzi schemes
- guy they don merge you
- have you confirmed YOUR account
- i want to GH AND PH
- have you been linked
here is a list of top 10 richest people under age 35, i bet they never became succeful with God dame ponzi scheme
Top 16 Richest People Under 35
Some of the biggest achievers in the world have started their modest journeys at a very early age. The elderly crop of billionaires had to strive their way into success. But in today’s “instant coffee” age, one just needs an idea to click to be a billionaire. Here are some of the success stories of people under the age bracket of thirty, and have already made it big.
1. Mark Zuckerberg
Mark Elliot Zuckerberg is an American born internet entrepreneur and has a net worth of US $35.7 billion. He is a co-founder of Facebook. Presently Zuckerberg is the chairman and CEO of Facebook, Inc. and as of 2013 his personal wealth is estimated to be US$16.8 billion. He became a billionaire at just 23 years of age. He was also named among the 100 wealthiest and most influential people in the world by Time Magazine.
2. Dustin Moskovitz
Dustin Moskovitz is one of the co-founder of Facebook alongside Mark Zuckerberg. He has a net worth of $9.9 billion. In 2008, he co-founded Asana with Justin Rosenstein. Dustin's Billionaire status is because of his 7.7% share from Facebook. Dustin attended Harvard University as an economics major before moving in with Zuckerberg at Palo Alto.
to be continued..................
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