Mba Forex Review - Is Mba Forex a Ponzi Scheme?

metatrader Mba forex is an investment company that offers their customers a risk-free and safe way to invest. They offer a 15% monthly return on their investments.

This might not sound like much, but in forex and other financial trading, this is a very high return. It should also be noted that returns are not guaranteed.

The Company

Mba forex trading and capital investment limited was founded with the vision of impacting the general populace with knowledge of trading forex and creating platforms that will bring about financial freedom. It has more than ten thousand active investors and claims to have business locations in the United Arab Emirates and the United Kingdom. Its brainchild is Maxwell Weli Odum, the CEO of the company.

The company mba forex first started operations in 2018 and was heavily promoted on social media. It promised investors monthly returns of 15% or more. Unfortunately, the company was unable to pay out its investments and shut down in 2021. As a result, many people lost their life savings and were ripped off by the scam.

Investors should be aware that no company can guarantee a certain return on investment, even if they’re legitimate. Regulations forbid companies from making promises like that. Investors should always invest only with the money they can afford to lose. In addition, they should only invest in a company with a high reputation and a good track record.

While mba forex trading and capital investment is a legitimate investment firm, it is not for everyone. Their minimum deposit is $1000, which is too much for many people in Nigeria to risk losing. Additionally, they do not allow multiple accounts for security reasons.

The shady CEO of mba forex, Maxwell Odum, has been linked to several other financial crimes and frauds in Nigeria. He is facing a number of charges and has been arrested by the Economic and Financial Crimes Commission (EFCC). While it’s unlikely that he will ever face trial, he still faces many legal threats and should be treated as a criminal. In addition to this, he has also been accused of lying to his clients about their ROIs. While he has denied these allegations, they have been backed up by other sources. Moreover, the EFCC has issued a warning to investors against investing with MBA Forex. They have even urged them to seek help from the authorities before it’s too late.

Maxwell Odum

Maxwell Chizi Odum is a Nigerian businessman who owns a forex trading company called MBA Forex and Capital Investment Limited. He is a highly successful forex trader and investor, who claims to have made millions of dollars by investing in the foreign exchange market. Odum was born in Elekahia community, River State and is the CEO of the popular forex trading and training company MBA trading and capital investment limited. He also owns a number of businesses in the United Kingdom and the UAE.

The alleged entrepreneur has been declared wanted by the Economic and Financial Crimes Commission, EFCC. The anti-graft agency has appealed to members of the public with information on his whereabouts to report it to EFCC offices nationwide or security agencies.

According to a sworn statement filed by Dickson Ukaha, a former Access Bank customer relationship manager in Port Harcourt, WCEP had an account with the bank that received hundreds of millions of naira in transfers from other accounts. The transfer amounts should have raised red flags for the bank. However, the bank decided to cover up the scam.

One of the biggest ponzi schemes ever run by a Nigerian was allegedly headed by a man named Maxwell Chizi Odum. The scheme drained billions of naira from unsuspecting investors who were promised mouthwatering returns. Thousands of people lost their savings and were thrown into poverty because of the scheme.

SaharaReporters gathered that Odun paraded his firm as a financial company that specialized in helping its clients trade forex. He offered investors 15 percent profit for every 30 days on a capital investment of between N350,000 and N5 million. Moreover, he claimed that his company had been certified by various regulatory authorities in the country.

Those who invested with MBA forex have been demanding their investments back from the company, but have yet to receive any payment. Some of the victims have taken their protest to the EFCC headquarters in Abuja, and have called for an urgent investigation into the matter. The EFCC has promised to investigate the case and prosecute anyone found guilty of fraud.

Ponzi Schemes

A Ponzi scheme is a fraudulent investment operation that pays high returns to early investors with funds collected from newer investors. Named after Charles Ponzi, a fraudster who defrauded thousands of Boston investors in the 1920s, these schemes are illegal and can cause serious financial harm to victims. They also pose a danger to the financial system as they may cause other investments to collapse.

The first step in a Ponzi scheme is to lure investors with bogus promises of high returns on investments. These claims are usually out of line with market conditions and often require a large amount of money to be true. The promoters of these schemes often target vulnerable individuals and groups, such as the elderly or the disabled, to lure them in.

In addition to promising high returns, Ponzi schemes also offer a sense of instant gratification. People who invest in these schemes receive their promised payments and do not suspect anything is wrong. They then encourage friends and family to invest in the scheme, increasing the likelihood of losing more money. In some cases, promoters may even threaten to abscond with the remaining money if the investment does not generate enough profit.

Most Ponzi schemes involve a pyramid structure, where the operator at the top collects investments from multiple "investors" below him. The head of the scheme then fabricates "returns" to pay these investors, making it seem as if a real business is taking place. This method of collecting investments can quickly collapse, as the head of the Ponzi scheme cannot continue paying investors using funds from his own pocket. The head of the Ponzi scheme will eventually run out of new investors and must stop investing, leaving all of the other investors to lose their money.

A successful Ponzi scheme requires a steady flow of new money to keep the system running. This is why many investors who have invested in the scheme try to minimize withdrawals. Some will even sign a contract to agree not to withdraw their investments for a certain period of time. This will help them maintain the illusion that the Ponzi scheme is legitimate and profitable.

Legitimacy

Mba forex trading and capital investment limited claims to be a Forex trading and training company that is registered with the Nigerian Corporate Affairs Commission. They promise a high ROI monthly for those who invest in their platform. They also offer free Forex market navigations training to their investors. The company was founded with the vision of impacting the populace with financial freedom.

However, it has been alleged that the company is a Ponzi scheme and is doomed to crash. Investors should be aware of the risks involved in investing with any online investment firm. The company is not a legitimate Forex broker and should be avoided at all costs.

The victims of the mba forex scam have demanded the arrest and prosecution of its CEO, Maxwell Odum. They claim that they lost billions of naira in the scam and are calling on the EFCC to intervene in their plight. The protesters held placards that demanded the company to pay them their investments and also urged the EFCC to prosecute the CEO.

Despite the fact that this scheme is illegal, it still lures people in with its promises of high returns. It is important for investors to understand that any investment that offers high returns should be viewed with extreme skepticism. In the case of MBA forex, Maxwell Odum promised to give investors a return of 15% each month. This was a promise that many investors took for granted.

It is estimated that the company owes investors more than 200 billion naira in total. This is a huge amount of money, and the company may be forced to shut down if it doesn’t pay back its debts.

The EFCC is working hard to help the victims of the scam and will prosecute Maxwell Odum if he is found. The EFCC has also warned the public to beware of such schemes. It is advised to only invest in reputable companies with a license from the government. For those who are looking for a more stable way to build wealth, investing in exchange-traded funds (ETFs) based on major global exchanges is a better option. While these investments won’t make as much as the 15% per month that MBA forex was promising, they are a viable way to build wealth over the long term.