MBA Trading Company, on Wednesday reacted to reports that the scheme has crashed, saying it cannot crash because it is not a ponzi scheme.
Theportcitynews had on Tuesday reported that hundreds of investors besieged the company’s offices in Port Harcourt and Warri to demand for their money back, with the company making empty promises and blaming banks for their woes.
Many investors who spoke to theportcitynews said that despite making investments in millions, the company failed to live up to the promises it made.
The scheme allows investors to invest a minimum of #350, 000 with a promise of 15% return on investment each month for six months.
An investor, Ayogu Fidelis said despite investing #1, 000,000 in the scheme, the company has not made returns to him since October.
“I invested in August. I have only been paid twice. First, they claimed that there was a glitch following their alleged migration to a new platform. Now, they are blaming the banks and the Central Bank for their inability to pay. They have also refused to refund the initial money. This is festive period and I need the money to celebrate with my family”
Another investor who pleaded anonymity said he is a retired staff of Shell and invested #2,500,000 in the scheme but was only paid once.
The visibly agitated retiree said he spent extra money attending trading trainings organised by the company, adding that he has spent over #3, 000,000 on the process.
He urged the company to refund him his initial investment as he has his family’s needs to cater for.
“They made promises that it is a sustainable investment. I invested. They paid only once. Then in November, they made selective payments to some persons and are now telling us to have patience.
” We are now learning that the scheme has crashed. We have families to feed. They should return the initial deposit we made and minus the months they paid us from it so we can feed our families”
But the scheme while reacting to the report said it was passing through a phase and would bounce back.
But investors who reacted to the statement disagreed with the statement, saying they were tired of the promise and fail.