Ghh

erenax:
Hello nairalanders, i need your view on this.

some people look at people that invest their money on ponzi schemes like yahoo boys or scammers. is it that ponzi is an illegal business.

as for me am just an ordinary participant who invest my money with hope of getting back my money with retuurns and no intention of scamming anybody.

whats your say because some people consider ponzi invetors as 419

Its illegal ponzi schemes have been ripping people off since 1919 wikipedia it

en.wikipedia.org/wiki/Ponzi_scheme

http://money.howstuffworks.com/ponzi-scheme.htm

JacksonD7:


Its illegal ponzi schemes have been ripping people off since 1919 wikipedia it

en.wikipedia.org/wiki/Ponzi_scheme

http://money.howstuffworks.com/ponzi-scheme.htm

so you mean that if i invest my money in a ponxi scheme ...i have engaged in an illegal business.
is it a crime sending money to a stranger?

erenax:


so you mean that if i invest my money in a ponxi scheme ...i have engaged in an illegal business.
is it a crime sending money to a stranger?

Yes, investing in a ponzi scheme is engaging in an illegal business and keep it in mind that you and the stranger are going to lose money at the end of the day.

JacksonD7:


Yes, investing in a ponzi scheme is engaging in an illegal business and keep it in mind that you and the stranger are going to lose money at the end of the day.

tell me one reason why ponzi is illyegal.and how one can get arrested by inesting his own hard earned money in a ponzi site

erenax:


tell me one reason why ponzi is illyegal.and how one can get arrested by inesting his own hard earned money in a ponzi site

You won't get arrested for investing in a ponzi scheme, but you're going to jail if you start one. And did you even read the links I put up?, ponzi schemes are illegal because they're fraudulent businesses that rip people off.

JacksonD7:


You won't get arrested for investing in a ponzi scheme, but you're going to jail if you start one. And did you even read the links I put up?, ponzi schemes are illegal because they're fraudulent businesses that rip people off.

i cant start a ponzi site,,,..i can only invest in it and its not a crime

erenax:


i cant start a ponzi site,,,..i can only invest in it and its not a crime

True it's not a crime to invest but when you lose money and get depressed remember you got warned.

JacksonD7:


True it's not a crime to invest but when you lose money and get depressed remember you got warned.

You have to know the logic... Becaos I have made over 1million naira from ponzi

erenax:


You have to know the logic... Becaos I have made over 1million naira from ponzi

And you could be a pauper tomorrow if the scheme crashes.

JacksonD7:


And you could be a pauper tomorrow if the scheme crashes.

Am smarter than you think

erenax:


Am smarter than you think

People smarter than you have gone down that dark path.

I wont agree with those of the opinion that Ponzi scheme is illegal, the unfortunate thing is that we are Nigerians, we are criminally minded by nature and this is due to our immediate environment that has been bastardize by our leaders.

Ponzi Scheme is similar to Crowd Funding ,a scenario whereby a community of people with like-minds come together to assist themselves to raise funds. Everyone in the community playing his/her own part obeying the regulation and being committed to it. Is not a get rich quick as we see it here in Naija , we have seen it work in some part of the world.