‘Federal Open Empowerment’ Ponzi scheme goes viral in Nigeria amidst lockdown – A new Ponzi Scheme known as Federal Open Empowerment Investment is getting a lot of attention in Nigeria amidst the lockdown to contain the spread of COVID-19 caused by the coronavirus around the world.
The scheme claims to be registered with the corporate affairs commission (CAC) and also claim they help the less privileged in numerous ways, the Federal open empowerment investment Platform that allows you to give and receive help” donation platform, this is according to their mission statement.
“It also to be considered as a quick scheme or Ponzi scam; We’re rigistered in Nigeria under the Cooporate affairs commission….. ® ® disclaimer to our teeming members against any violation of corporate policy which may result in prosecution by the law”, they further said in the mission statement.
How they operate
They claim to Trade With Cryptocurrency Like Bitcoin, Luno, Gifts Cards, Kuwait Currency, they Make 3 Tripple Of Your investment Successful And Send You Two Part And We Benefit One Part, For Example If You Invest With 50,000 Within 45 Minutes To An Hour We Make Profit Of 150,000 Then Send 100,000 To You Then Profit Of 50,000 Is For The COIN BASE COMPANY Which Is The RICH CONNECT INVESTMENT PLATFORM.
You pay directly to them And We Credit You Directly, no website, no office, just you, a google form and your money.
Federal Open Empowerment Investment Packages for Trade
- 20k to get 40k
- 25k to get 50k
- 30k to get 60k
- 35k to get 70k
- 40k to get 80k
- 45k to get 90k
- 50k to get 100k
- 60 to get 120k
- 70k to get 140k
- 80k to get 160k
- 90k to get 180k
- 100k to get 200k
- 150k to get 300k
- 200k to get 400
- 250k to get 500k
- 300k to get 600k
- 350k to get 700k
- 400k to get 800k
- 450k to get 900k
- 500k to get 1 mollion
- 1 million to get 2 million
Testimonies on social media
Is Federal Open Empowerment Investment a Scam?
Federal Open Empowerment Investment admitted to being a Ponzi scheme according to their mission statement, a Ponzi scheme is a form of fraud that lures investors and pays profits to earlier investors with funds from more recent investors. The scheme leads victims to believe that profits are coming from product sales or other means, and they remain unaware that other investors are the source of funds.
Also they claim to be registered with corporate affairs commission, but a simple name search on the CAC portal shows that no such name exists, so they lied about that.
Another red flag is using the phrase “Federal Open Empowerment Investment” which makes it look like another form of federal government palliative to ease the effect of the coronavirus lockdown, the scheme has nothing to do with federal government and therefore is a not a palliative for poor Nigerians.
Conclusion
Although there are many testimonies on social media from some who have had their money doubled within 14hrs with supporting evidence of screenshot credit alert, this is also common with most Ponzi schemes like the notorious MMM scheme, at first they pay to lure in more potential “investors” and when the time is right they part with people’s money and close shop.
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