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For many investors of the Badagry,Lagos based investment platform XM Future Music Platform , this is not the best of times. Suddenly the millions of naira invested in the scheme based in Apa area of Badagry have disappeared and some of them are just realizing that they may have unwittingly been hoodwinked into investing in a ponzi scheme.
So after waiting endlessly for the Return on Investment which ranged between 50 and 200 per cent over 1 to 3 months , the distraught investors visited the company office on Thursday May 14 looking whatever they saw and also vandalizing some property.
Some of those who invested said they were promised huge returns after subscription and listening to certain online music and completing some online tasks. However the promoters made them pay for slots in the scheme before they could be registered for the online task. The bigger your investments the bigger your task and the bigger your return on investments.
And they rushed in with some investing between N30,000 to N200,000 while others chose the million investment route.
Now all is gone and the victims of another ponzi scheme are again rueing their losses and counting the cost of their best investment choice.
SB E-news.
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