Sadiatou used to be a well-off trader of traditional cloth at the market in Benin’s economic hub of Cotonou but now sells school equipment from the doorstep of her home. In 2010 she sank more than five million CFA francs ($8,700, 7,600 euros) into an investment scheme that promised a quick profit. “It’s a deposit … Read more
The US Senate confirmed attorney Jay Clayton as the new head of the Securities and Exchange Commission tasked with regulating Wall Street and America’s financial sector. Some Democrats joined Republicans to vote 61 to 37 in favor of Clayton, who was nominated by US President Donald Trump in January. Once Trump’s White House completes the … Read more
Investments that promise extraordinary returns with very little or nonexistent risks are most people`s taste and preference. These investment schemes take different shades and ruses but the commonality is that they promise unsustainable returns or profits that outpace average market returns without commensurate risks. The pursue of money isn’t just a bad thing, after all, … Read more
THE MEANING OF MMM – In truth, MMM is a Ponzi scheme. Wikipedia defines a Ponzi scheme as “a fraudulent investment operation where the operator, an individual or organization, pays returns to its investors from new capital paid to the operators by new investors, rather than from profits earned through legitimate sources.” Ponzi scheme promises … Read more