Real Life Experience: Do not borrow money To Invest

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Written by
2 years ago
Topics: Ponzi, Investment, Loan

Hello People!

Each time I come to this platform and see how people are still active, it gives me so much joy. I remember the time the speculation of site closing was so thick, I never imagined we would stay till this moment. Long life Readcash! Let's keep grinding and push away any negative vibe.💯

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In my previous Article I talked a little about a lady that almost ended her life because of the Ponzi she did and the payment was not forthcoming the moment she expected it.

We all did...

Yes, I joined them to do it because I knew it'd pay because of my smart calculations. The site once existed in the year 2020 and closed up with people's money, mine was not involved because I was calculative too. This site actually gained people's heart when they first trended before they closed up, so they returned earlier this month, I knew they'd pay to pick up same effort they did last two year....but it'll favour the "early birds"(first set of investors.

So I did and I was paid and decided not to invest again to avoid stories.

Image source

I didn't know she invested too...

I didn't know she invested untill when it was her date for withdrawal. So she chatted me up on WhatsApp to know how to go about withdrawal because it was her due date. She invested $20 to get $40 in 14days.

I instructed her on the Crypto to use and she was a little bit confused and she almost used my Wallet so I'd sell off the coin and give her the money when they pay her but after proper tutorial, she used Bundle Africa wallet to request for withdrawal.

Delay of her payment...

Actually, withdrawal is not supposed to take up to 8hrs because I was paid within 3hrs when I placed withdrawal.

It got to 12hrs and she had not recieved her payment. She rushed to my DM to plead with me to her help her pray because it's almost 24hrs and she hasn't been paid and that's unusual of the site. Red flag🚩!

I was able to calm her down and told her that's maybe it's because the queue is much that's why the delay. She stayed calm.

She busted into tears...

Image source

Few hours again, she came to my DM, saying that her life is fucked up, that she feel like commiting suicide now. Seeing the messages, fear gripped me because I know she's not the type to joke to that extent.

I put a phone call and she didn't picked at three trial. She later picked at my fourth time of dialling and all I could here was cries. I tried to calm her down and tell me what's happening.

She borrowed money to do Ponzi scheme..

She explained to me that she's in terrible debt worth $140 and I didn't bothered to ask her what she used the money to do, I knew she used them to INVEST in site.

She went further to explain how she had so much debt on her, 98% of the borrowed money were used to do investment on Ponzi site. She said what really pushed her to borrow was that, she used the money her mom kept with her to invest in a site and the site crashed that day💔, so in a bid to meet up, she when to loan apps and borrowed money to invest in a "trusted" site to regain her loss but the whole thing went sour.

They were threatening her life.

Image source

It wasn't just one loan app she patronized, they were up to five loan apps. You know, loan apps have their limit for loan on a first timer, so she collected multiple little money From all of them.

The due date of her repayment has reached and she didn't pay and for sure, these apps Will start threatening for arrest and public disgrace (telling your contacts how bad you are).

They were sending her threatening messages and her heart could not bear the messages. Imagine receiving threatening messages on a daily from different loan companies 💔.

I tried to calm her down on a long talk, told her to use whatsoever she has to pay a little to these companies and also to buy more time.

Yeah, she expected me to help her financially but I couldn't be of help to her because I was totally "empty".

I told her Also to open up to her siblings she's cool with since she can not open to her parents because they'll slash her.

She opened up to her mom.

Yeah, she told me how her mom used words to flog her on her stupidity. But I was glad because a family member is now aware of what she's passing through and I know that they must be checking on her in other not to do anything stupid.

And the site finally paid her

That's was the message I received yesterday, she was happy to receive payment after waiting for 24hrs+.

But what's $40 in the misdt it $140 debt?? I adviced her to use the $40 to spread to the loan apps and that will quench their hunt for the now. She did just that.

But the major debts are still hanging and the apps she couldn't pay with the $40 has has started messaging People on her contact list. She forwarded a sample of the massage her Friend received yesterday to me.

Those loan apps eh, they know how to construct Heart sucking messages.

________________________

See eh!

No matter what,

No matter the Temptation,

No matter the mouth watering offer,

DO NOT BORROW MONEY TO DO PONZI!

This same thing goes to Crypto too,

DO NOT BORROW MONEY TO INVEST IN CRYPTO!

Unless you're strong hearted.

Thanks for reading!

22nd June 2022

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Written by
2 years ago
Topics: Ponzi, Investment, Loan

Comments

Debt will be an enemy to us when we invest by borrowing because investment is very risky so when we borrow we must be prepared to suffer.

$ 0.01
2 years ago

Yes, when we borrow to invest it becomes more riskier. I can't take such risk, never!

$ 0.00
2 years ago

Omo! This one almost used her own hands to kill herself, why will you borrow money to do ponzi??? What she should have done in the first place was to open up to her mom, but she allowed it to spoil finish before she finally confessed. I hope she has learnt her lessons sha, I remembered what ponzi did to me back in 2020 and I swore never to go back to it

$ 0.01
2 years ago

I still find it funny when people say they borrowed money to do ponzi with this tag "not taking risk is risk itself". That's blind risk

$ 0.00
2 years ago

Don't invest from borrowing other people's money, because you are worried that when you lose, you can't return the money.

$ 0.01
2 years ago

Yes bro, it more riskier to borrow to Invest because if you loose, you going to be troubled on how to pay the money you borrowed

$ 0.00
2 years ago

This kind of scam happening everywhere even here and yes, they will harass your contacts too.

$ 0.01
2 years ago

The contact harassment is what I find weird. A lot of people will now seeing the victim as fraudster💔

$ 0.00
2 years ago

This is really happening everywhere and that is a sad reality. This is a lesson to everyone to not invest easily

$ 0.01
2 years ago

Truth is that we know all these and we still fall for them. It's greed and it's not good

$ 0.00
2 years ago

It's not good to have our investment online especially done without any valid information. Don't just take risk to this kind of activity it might loss out endeavor

$ 0.01
2 years ago

Yeah, it's a big risk, risk of the highest order! That's why it's called Ponzi, anybody going into it must fully know the risk involve, because if it happens, you wouldn't have anyone to hold

$ 0.00
2 years ago

Ahh, thanks for term you've shared. We must be aware of the consequences if we engage to this.

$ 0.00
2 years ago

Online investments involve greater risk so we really need to be very cautious. It is not advisable to borrow money in order to invest. We should only invest the money we can afford to lose.

$ 0.01
2 years ago

That's the basic instructions "invest what you can afford to loose". A lot of people know this but play deaf ear and still go ahead to borrow

$ 0.00
2 years ago

The good thing is I hardly earned the crypto which I invested in some investing site, only regret is haunting me now that the market is bloody red lol.

$ 0.01
2 years ago

It's so painful when you invest and dip is still going down. It sucks 💔

$ 0.00
2 years ago

This is a great reminder for everyone. To make us aware to all the consequences if we commit ourselves with such loan apps without thinking.

$ 0.01
2 years ago

I don't encourage anyone to patronize loan apps, it's very somehow risky because if you fail to meet up with the repayment and you're really broke, they won't believe that you don't have the money, all they will think is that you're running away with their money

$ 0.00
2 years ago

Omo it has happened to me before but I didn't borrow money for it. Right now, I cannot involve in those MMM business again so that I won't hear stories that touches😂😂. Sorry for your friend. Tell her to take heart😂😂

$ 0.01
2 years ago

MMM still remains the grandfather of all these schemes. I did a lot of these things but never borrowed money to invest. Borrowing money to invest is the highest form of risk

$ 0.00
2 years ago

Aww, im sorry this happened to your friend. You're correct, even if the offer is tempting, don't engage when you dont have money. Investments online have risks, and borrowing money increases these risks

$ 0.01
2 years ago

"Online Investment is a risk and borrowing money to invest increases the risk" This statement is just it💯

$ 0.00
2 years ago

Whenever you are going to invest I think one should consider well and examine the situation

$ 0.01
2 years ago

Yeah, proper consideration should be put in place and don't investment what you can't afford to loose💯

$ 0.00
2 years ago

Investing is incredibly dangerous, especially when done online. So even though I am aware that the website or program that my friends have suggested is legitimate, I hesitate to use it for fear that their system may go down at any point and I would lose the money I invested.

$ 0.01
2 years ago

The fear is always there because even though it's been paying your friends, you might not be lucky when it's your time to get paid

$ 0.00
2 years ago

It is unavoidable sometimes the thought of borrowing money and invest it, but before doing it, we should not just think twice, we should analyzed first the positive and negative impact of it.

$ 0.01
2 years ago

Yes, proper check & balance should be put in place. A lot of "what if" should be considered

$ 0.00
2 years ago

Oh! this happen a lot here in our area when KAPA is so known to give you a 30% of your investment. Many have joined, many take loans for it only to cry at the end because it is a big scam.

$ 0.01
2 years ago

It's happening everywhere and a lot of people fall for the scam. It's Heartbreaking

$ 0.00
2 years ago

It means that there are lots of people wants an easy money.

$ 0.00
2 years ago

Yup, especially if the investment is volatile and there's no assurance that it will pay you back. I remember one time, I invested in a school cooperation back in high school as part of our subject in entrepreneur. My teacher then told us not to invest if we're not sure of the returns. I now then realized that it's her way of teaching us to be a mild risk taker. I guess if you have extra money to pay what you've borrowed then there's nothing wrong with it.

$ 0.01
2 years ago

That's just it. Investment is more better when it's done with extra money or you have a back up Money incase havock occurs.

That's why we always say "invest what you can afford to loose"

$ 0.00
2 years ago