The motleyfool website have a good article about how to spot a ponzi scheme in operation from start to finish, a to z. https://www.fool.com/retirement/2017/01/30/how-to-spot-a-ponzi-scheme.aspx Although I have not read this yet, but I think I’ve experience enough to say I know a bit about a ponzi. I can spot a ponzi scheme or scam with just a few a few questions.
In life, if recalled back correctly, the first ponzi scheme I ever encountered was seeing a small ads in the newspaper about making money just go to a conference, so I did, and I paid, and they ask to paid more to gain higher position to make more money, and I did, and they disappeared, not a damn thing anyone can do about it because they use fake registration for the conference and those people even though with their face showing in public with many people but still difficult to claim and report to the police to capture them.
In the mail, if recalled back correctly, also saw ads somewhere maybe it was a magazine, make money by sending this person $1 and you will receive $1 from many other people, so maybe this might not be a ponzi scheme, more of a pyramid scheme scam. Also in the mail, assemble some toys or electronics circuit board and get paid, but you have to send them $100 or so, and they will send you a $2 kit for you to assemble and send back to them for paid $15, but nope never got paid and that owner ran away as well with my $100.
In person, it was at a bank parking lot, I was approached by an English accent person saying that he’s a business person but loss all his money through gambling, and he needed airplane ticket to get back to his country, he show passport of another country and such. He said he has $5000 worth of high end merchandise clothing, and will sell it to me for $1000, and I need to promise him not to sell it to anyone else. I told him I don’t have $1000, and then the price start to go down from $5000, to $1000, to $800 to $500, to $200, then $100 too hard to pass so I bought it at $100 and got 5 leather jacket smell leather. Wen back home and the jacket don’t even last 5 days as the leather smell disappeared as it was just some spray on leather perfume or something, and the jacket degraded as days go by and eventually started peeling and I didn’t even wash it. Loss $100 and I though I had a good deal, probably worth $20. Although that person didn’t make much money off of me, but for sure I loss.
Lastly online, needless to say it’s unlimited scam on the internet, I don’t need to say much, but for a ponzi scheme in term of making money, if you see a program or project saying you deposit $100 and get $200 in the next 2-3 weeks or less run away as fast as you can. If you see a project saying you will make 1% daily profit a day based on your $250 investment for however long they say, 1 month 2 month 6 months, run away as fast as you can. If you see a project or program saying you will make money in cash fiat by buying 1 bitcoin or other cryptocurrencies and deposit into your account, and you will have cash return back to you daily 0.5%, scam. All these are easy to spot, you don’t really need to know who they are, they can fake real ID of someone else operating the program to scam you, they can be as a real person that sake your hand, showing up on youtube social media and so, but still they already have exit scam planned way ahead of time before the ponzi program even started. Not easy to catch up or catch these ponzi scam owner because they already have very good exit scam strategy, either by extending common issues that never exist or just simply pay you less and less and super hard to withdraw money making you believe they’re working on better things. The next thing you know is they disappeared, good luck on going back to the house where they live, no one there, no one know where they are, if you even know where their fake house, mostly people said they do are the scammer themselves working together.
So, if anything sounds or looks too good to be true, then you need to think again and again and ask for second person that you know for an opinion. Now a day with camera take a picture as proof or something. There is no way to make easy money, you need to work hard at first, then with a lot of money you can invest with a more trusted financial institution although you make small profit but it’s guaranteed.
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