Pretty sure this is a scam:

So these guys are advertising pretty heavily on Facebook (and today I see I can no longer comment, so clearly I struck a nerve when I said it seems too good to be true :slight_smile: ).

In any case, they promise 30% return monthly, and I think we all know that’s simply not going to happen. The Facebook page is full of people buying cars with their investment returns.

Seems to me like a garden variety Ponzi. Anyone heard of them? Their web page says they are registered with the financial regulators in Australia, but all the reviews on the front page is from South Africans. Web domain registered in December through Go-daddy, website also hosted with Godaddy. Doesn’t feel like a real investment house…

Edit, also this…



I was hesitant but the review by lorem ipsum convinced me it is real…

What company operating in 6 (or is that 8 countries?) managing such great returns for 100 000+ people for 5 years would not operate a web site built on a $19 (currently discounted to $5.63) website template?

Easy sign-up, no KYC… list goes on.

So, I can’t wait to start my new solar battery company with my returns.

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Oh yes. On their Facebook page, they have this photo of a happy customer:

Now would you look at that, the dealer’s name is right there in the photo, and if you head over to Montana BMW’s page, there’s the exact same picture. They’ve got this one as well, with another dealer’s name in the picture, supposedly March this year:

Head over to Bargain Auto, nogal in Goodwood, and scroll through the really long list of photos to January 2021, and there is the car. Not the buyer, but the car. I doubt it took a year to sell that car…

berries still had to ripen and be harvested… money does not grow on trees over night.

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Yeah, also, it is a Ford. Maybe it did take a while to sell grin

Oh man, this is a bodge job. This, according to Facebook, is Selebogo Mphahlele, the sales executive working for Kia Centurion. This photo from 3rd of January is shamelessly re-used on the 12th of March.

I see quite a few people, clearly not people who can afford it, showing interest. Oh man…

Looks pretty dodgy.

I remember in the heyday of bitcoin mining, a dozen of cloud mining companies popped up. Most of them turned out to be ponzi schemes.

Thing is, for a ponzi scheme to work, you need to actually pay out some of the “investors” (otherwise the first few people who are scammed will just raise all of the red flags and the thing collapses. You also want to try and run it as long as possible so that you can actually get more people to buy into it so that you can continue paying out the previous batch and thus keep it rolling. It is also from the scheme’s side a big factor in terms of how much you can push your existing “investors” to gain new investors, and how much you can convince them to “re-invest” in the scheme (without spooking them and letting them withdraw all their money).

Of course, all of them eventually run out of steam.

So back in the day there was actually a website that rated ponzi schemes for you. If you can

  • get in early enough
  • get out easily enough
  • do not have to find most of your own subsequent follow-up investors…

…then it can be a fairly lucrative (but very high risk) investment strategy. The website specifically rated it on how long the ponzi scheme had been going, and how many people were still getting money out (and how easy it was), and how “pushy” they were in getting you to supply the next set of “investors”.

Still - not something I’d want to pursue.

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The trouble is, if you made money, and the Ponzi folds, the powers that be can come after you. You could be forced to pay back everything you made (and what you “invested”) and then join the long line of “creditors” when it becomes insolvent.

Fair enough, and even without the whole “illegal” risk I wouldn’t do it either. Knew some people who used the site and got burned anyway.

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