My Experience with Ponzi schemes|| A difficult Challenge

Hello bees, hope you're doing well. I'm fine and doing ok too. Well today I'll be sharing with you a story which was once a challenge to me, a very big challenge.

Introduction

We all encounter challenges each day of our life, be it as financial or whatever the case may be, to some people your challenge is a common thing while other people's challenges may be a common day to day activity for you, we not all the same but the common factor here is that we all, in our own way come across challenges. I know of a popular proverbs that says; >One man's meat is another man's poison.

So what are these so called challenges? To me they are situations, with varying difficulty, which we either overcome or they overcome us. They test our resolve, just like the way a student write exams to show what they've been able to learn of what they were thought. When you are overcome by a challenge, you learn and when you overcome the challenge, you know your strength and still learn.

Well, speaking of encountering challenges every day, I also fall in that category. I fell into the hands of an online scammer, Ponzi scheme.

How it began.

This happen earlier this year when School had just resumed for the second semester of my final year in school i was excited that I'll soon be through with school, at the same time i was scared of the financial burdens laying up ahead waiting for me. So i was just discussing casually with my friends, about forex and crytos, i was still new to all these stuff as at then. We talked at length and i learnt a lot from them along the way, one of my friends told us about an investment option with some one he claimed to know very well. He said the other person was a guy trading forex and then he allows you to invest the minimum of fifteen thousand naira (#15000) and get 100% of your investment in two weeks time. It sounded enticing but i was sceptical of it so he showed me proof of the payment he had been receiving form them and stuffs like that. I thought about it and then thought of it as a great gain money and cater for some of my schooling needs, like money for school clearance and other things, plus the fact that i trusted that my friend with proof to show for it, i eventually invested. What solidified my belief in the plan was that my friend gave me 15000 to start with. After 2 weeks, double of the cash was sent to me, i reinvested and then double of the cash was sent back again in two weeks, i became carried away and instead of letting the investment grow, greed took the better of me, so i decided to add more money to get greater returns. That was where it all began to go wrong. Different stories started emerging, like the guy trading the forex was dupped, and the payment will be delayed that the guy whom we thought was trading the forex wasn't actually the real person, he was just working for someone else and had no idea his boss wasn't actually trading forex but running a Ponzi scheme and many more stories.

How long have you been through this Challenge?

Well, my first investment in this Ponzi scheme, was at mid-February, and i got to find out that this was all a lie by mid-May. I was devastated 😭😭.

Difficulties caused by this challenge.

There are a lot of difficulties caused by this bad investment. Because i was trying to look at the bigger picture, which was my project fees and clearance money and house rent, i lost the little i had already gathered, greed was also among too. Well, to start with, i had my house rent with me and wanted to pay up but i also wanted to multiply the cash so as to pay for my project so i put all of it, I was foolish right? Well i want you to understand that, greed aside, all this was coming from the fact that i trusted my friend who told me about the platform and there are actually legit platforms where they trade forex and allow for investors to participate with their money, so it seemed like the right thing to do, coupled with the fact that i had been paid twice already. When it all dawned on me, i had no rent fee, project fee or any money whatsoever, i had to start hussling afresh. I would had been chased out of my apartment.

What i have done to cope with the challenge

Well there was nothing i could do other than to Hussle really. Firstly i couldn't lay hold of my friend cos he wasn't the one i gave the momey to, he only told me about and we invested together so he also lost some money too. Secondly, the so called trader went into hiding plus my friend doesn't really know him that well, he just knows him from his church, that's all. So i had to dig deep to get the necessary needed cash to sort out my present needs.

Conclusion.

Well i have learnt a lesson, bitter one. It was the first time i had gotten involved on such, i have been hearing of things like that before now, but i fell for this because of my friend, and a little bit of greed. So i decided not to get myself involved in stuffs like that again, no matter how enticing and real it may seem. Secondly, I wont venture into any business of any sort solely on the idea of 'Trust' but I'll make my own observations and investigations before i leap in. I didn't ask enough questions about the idea because i depended on my friend, and the trust i had, and now we both lost.

IMG_20210804_164702.jpg
Me working to earn some money.

Thanks for reading through.

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