EFCC raises red flag on Ponzi investments, crypto, forex trading in Nigeria

April 27, 2021

Charles Abuede   The Economic and Financial Crime Commission (EFCC) has raised alarm over some fraudulent investment schemes that promise Nigerians returns that look too good to be true, saying such investments are Ponzi schemes and should be considered a red flag. Wilson Uwujaren, the EFCC spokesman said in Abuja that Nigerians are losing money […]

China declares war on Ponzi schemes, fundraising ploys

Businessam StaffJuly 26, 2017

Chinese police will strike hard against shady financial schemes because of the risk of social unrest from such fundraising ploys, according to the Public Security Ministry. The warning came a day before a rare gathering of thousands of protesters in Beijing on Monday. They were members of Shanxinhui (Kindness Exchange), a fundraising scheme declared illegal […]