How to Avoid Ponzi Schemes & other bad Investments in Cameroon by Javnyuy Joybert

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How to Avoid Ponzi Schemes & other bad Investments in Cameroon

Ponzi schemes are named after a notorious fraudster, Charles Ponzi.

He set up a scheme in 1919 promising returns of 50% in 45 days and a 100% return in 100 days. Eventually, the scheme crashed in 1920 and those who took part lost millions of dollars.

Here are few key points to help you in identifying a Ponzi scheme or bad Investment

1. A Ponzi scheme has no real asset. Nothing is being sold or bought. Money is simply being funneled from new entrants to old entrants. You can’t explain it.
“Never put your money in what you don’t understand how it works” Javnyuy Joybert

2. No clear legal documents
Yes you will hardly find a legal Registration document, tax documents etc. Note many of them now can fake company registration documents to please members. Sadly in Cameroon we don’t have a platform or a database we can search for registered companies online

3. No clear leadership (management)
It is difficult to identify clearly who is the founder or CEO. Many times you will hear the CEO name but you will not see the CEO having a very updated social media handle on twitter, LinkedIn.

4. No way to measure returns
A Ponzi scheme has no way of measuring returns or performance. All people say is that you can make a certain amount. Sometimes, people just tell you how long the scheme has been in existence. These schemes literally spring out of the air. You cannot measure the growth of business activities that are not legal.

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5. Pressure to invest and act immediately.
Yes, the presenter always putting you pressure instead of just doing a simple presentation and allowing you to analyze and make your decision he or she is pressuring me.

6. Some poor ones don’t have any location. No office with no structures with no staff. But some do have offices now and if you visit them just how they run their office in your presence in the next 10 minutes you can determine if they are a legal corporate Structure or not

7. They are always looking for more Investors. Yes, businesses require Investment but there comes a time that a business must have reached their target capital they needed and they stop accepting Investment from the public. Have you ever heard a Ponzi scheme announce they have reached their Investment target? Watch out!
Hear me, With the absence of a sound business model to multiply funds, a Ponzi scheme only lasts as long as there is a continuous trooping in of new investors, and old investors as well are willing to roll over or leave their money in the system for longer.

8. Sweet claims
The company makes impossible claims and guarantees like “double your money back” in 6 months. Or they promise abnormally high profit.

9. Most don’t have products or some do have products that have no value to the common man. Some now are creating digital products especially around blockchain Technology. Watch out ask for expert advice

Before you put your money in anything like Investment scheme and in the family of network marketing, note the following

1. Do not use your life savings only use money that if you lose your life will not be shattered.
2. Only invest in what exhibit solid fundamentals like strong legit earnings power, and the potential for continued growth for years. Although these seem like simple concepts, detecting them is not always easy that’s why is good to talk to someone who understands these things before you use your money. Don’t be like one guy who came to ask for my consulting services I charged him just 50,000frs he said it was expensive and lost 2.5 million in a bad Investment scheme in Douala.

I stand to be corrected but this is after my analysis of some failed ones in Cameroon and some that are still going on and will fail in the next 6 months and maximum one year or so.

Me, I will prefer you put your money in a store and sale dresses that you understand the business than put money in something you will cry premium tears tomorrow