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Twinkas, another Ponzi scheme emerges, set to overtake MMM

Daniel Daniel
23 Jan, 2017 In General0 Comments , leave one
Twinkas, another Ponzi scheme emerges, set to overtake MMM

Twinkas , another Ponzi scheme more or less like MMM has taken the wave with it members placed on categories.

When you join, you will need to donate the sum of either N5,000, N10,000, N20,000 or N50,000 to a fellow member assigned by the system or your direct link, and the member will then confirm your donation and then the system will automatically assign 2 other registered people under you from spillovers who will also pay you the joining amount each, into your bank account, making 200% (i.e. 200% of N5,000 is N10,000, 200% of N10,000 is N20,000 200% of N20,000 is N40,000 and 200% of N50,000 is N100,000).

According to the scheme, Twinkas said it was created “to promote the greatest good, with a particular emphasis on helping man and the environment”.

Claims it has provided mobile numbers to help facilitate the money exchange process

“We are gradually restoring our CRM Modules (Live Chat, Ticket, Mobile Calls) to enable us get in touch with you regularly.

“We have switched to STRICT MODE. Meaning zero tolerance. Hence, we will not entertain any form of uncanny behaviour from sponsors/downlines.”

Twinkas also gives out some conditions, including the warning that prospective investors must keep their mobile phones open most of the times

“If a sponsor's mobile is switched off or not answering calls for about 6 Hours, Twinkas will have that account blocked.

“If a sponsor fails to activate his/her referral after receiving payment, Twinkas will have that account and subsequent accounts connected to your bank and mobile number blocked.

“You are advised to have an online banking Application on your mobile phone to help facilitate the process.

“Mobile numbers will be displayed on your dashboard. Please save them and do not receive any call from other lines claiming to have emanated from Twinkas.”

Twinkas, another Ponzi scheme emerges, set to overtake MMM

“These numbers should be called only in the cases of emergency, hacked accounts or other serious Twinkas related issues.

“Use the “Live Support” and the Ticketing System (Still in View) for only serious Twinkas Issues also. We know those working hard for Twinkas, your reward will be a surprise!.”

The website claims Twinkas' Classic now has 198,985 members, Professional with 117,290; Twinkas Premium has 117,147 members; the Ultimate with 170,322 members; has zero members under the Veteran category.

Any amount invested in each of the categories would attract double the amount after one month maturity.

Under Classic, members are expected to invest N5, 000 with N10, 000 return investment.

Subscribers on the Professional platform would invest N10, 000 and get N20, 000 Return.

Under the Premium level of N20, 000 investment, investors would get N40, 000.

Ultimate with contribution of N50, 000 attracts N100, 000 returns.

The Veteran scheme is N100,000 investment with a return of N200,000 but no one has yet to invest on the platform.

Meanwhile, financial institutions had warned against participation in these Ponzi schemes because they are fraudulent.

Nigerians have been warned by the Central Bank of Nigeria (CBN) not to deposit money in any institution that is not insured by the Nigeria Deposit Insurance Corporation (NDIC).

The bank through its acting Director of Corporate Communications, Mr. Isaac Okoroafor, warned especially on the trending MMM Nigeria community.

Okoroafor said: “At times like this when the economy has suffered some decline, Nigerians should be very careful with those they deal with.

“Any institution that is not licensed by the CBN to accept deposits should not be given money to keep under any guise.

“We can vouch for the banking system. The deposit money banks are the only licensed institutions to take deposits.

“If you need to deposit money in any form, go to any of the deposit money banks and put your money, you can buy fixed income instruments or invest in stocks.

“These people always come with very interesting propositions. These are fraudsters who are just out there to collect people's money and run away as soon as they hit their target.

“There is no insurance because the NDIC does not even protect them against such risks when they occur”

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