Press Statement ... Political Violence:Afenifere Condemns Attacks on Ndigbo in Lagos

Abuja
Swissgolden
Group moves on up-liner.
Say no earnings after one year.
Threaten to bring in EFCC




Over one year after investing various sums running into millions of Naira in some cases, a cross section of Nigerians are crying foul and are vehemently accusing the popular Swiss Golden online scheme of being nothing more than a scam designed to defraud and impoverish unsuspecting Nigerians.

It has been the trend for enthusiastic marketers or networkers of various online empowerment schemes to solicit the participation of family, friends and associates as a means of beefing up their profiles. Going by the guidelines of these schemes; particularly those that are involved in networking, the more participants one is able to bring on-board, the more one stands to make in the form of referral and other bonuses.  More often than not, once a networker establishes a followership, the next step is to establish a closed online interactive platform for the purposes of information sharing amongst members of the group. The groups go by a variety of names such as Dream Team, Achievers Team etc which in itself is meant to serve as a motivation of sorts to already signed on as well as potential members.

With the downturn of the economy in recent years, many Nigerians have been left with no choice other than to seek out alternative sources of income as a means of meeting up with the payment of ever mounting bills and other crucial obligations. As a result, many have found themselves drawn to the allure of Ponzi and other online schemes which promise quite generous returns on investments. Many innocent Nigerians have taken the risk, investing various sums in these schemes but the story has not ended well for many of them. In 2017 only, schemes like the infamous MMM, GHW, Joyful Donor and a host of others made the rounds. While several claimed to have benefited from such schemes, it was generally a story of sorrow and tears as many lost their lives savings or became heavily indebted in the process. Today, most of those schemes are long dead and their originators nowhere to be found. Quite easily, they have made away with peoples’ hard earned monies, leaving their once zealous marketers to explain to their down-liners what has become of their funds.

In the aftermath of the disastrous fall of the MMM Ponzi and other similar schemes for lack of transparency and other reasons, new arrivals, wanting their share of Nigeria’s large market came onto the scene peddling various credentials and innovations aimed at enhancing their credibility and ultimately winning the confidence of potential investors. Top on the list of these new entrants into the Nigerian space was Swissgolden which is believed to be working with internationally renowned companies such as UBS, one of the most important financial centers in Switzerland and UK. The company claims to have users in more than hundred countries around the globe.

As a result of mouth watering incentives offered by Swissgolden which included amongst other things a total refund of invested capital should one wish to withdraw from the scheme at any time, many enthusiastic Nigerians signed up with the company, some through and in a bid to increase their referral bonuses invited others to sign up under them. It would seem that many of the self-styled coordinators or up-liners as they are known, not fully understanding the pros and cons of the scheme, collected money from friends, associates and family, telling them that they did not have to be directly involved in the business, promising them periodic earnings as interest on investment including as mentioned earlier, a refund of their funds on demand.

Over a year after collecting money running into millions of Naira from individuals, one of such up-liners has found herself caught up in a quagmire of accusations bordering on fraud, ignorance and misrepresentation. A number of members she brought on-board the scheme have indicated their decision to address the matter through legal channels while others have stated their determination to invite the Economic and Financial Crimes Commission (EFCC) to look into the matter.

The up-liner, name withheld, who is also a civil servant, in a bid to defend herself, has come out to tell the disgruntled members that she too has failed to record any earnings on her investments which includes monies sourced from family members. According to her, she has never met any of the representatives of Swissgolden and as such does not readily know how to go about seeking redress on the matter.

According to one of the disgruntled members of the group who preferred to not to have her name mentioned in this report, “I am a friend of the up-liner. When she first approached me to participate in Swissgolden, the first question I asked her was if it had to do with networking because I am weary of anything that involves endless networking. Moreover, I work and my job is very demanding. She assured me that I did not need to network and that once I paid my money, I could go home and sleep and expect earnings periodically. I then proceeded to ask her if Swissgolden was genuine to which she answered in the affirmative, explaining that it was a duly registered company.  I gave her money for three turns and later convinced my husband and mother in-law to join. Between the two of them, they paid for another three turns. Altogether, the monies we have invested are just short of one million Naira. Till date, I am yet to get one Kobo earnings. Some six months ago, I had reason to communicate to her my decision to opt out of the scheme and get a refund of my money but all she had for me were explanations that I still find difficult to comprehend. Six months later, I am here still struggling to get my refund but it seems she is lost on what to do. At the end of the day, I will need to take legal action against her if that is what it takes”.

Another member Mr. Olakunle, visibly perturbed, could not hide his anger. According to him, “She (upliner) seems not to be a serious person. I don’t want to say she is involved in fraud but how can she market what she doesn’t know much about? I agreed to join because she is an acquaintance but I see that it is the people that know you that do you. After paying money to her to be a part of the Swissgolden thing, I have nothing to show for it after one year. Since Swissgolden is a registered and recognized entity, she should on the premise of promises made to me at the beginning, commence to find a solution to the matter. I was motivated to join simply because of her emphasis that I could withdraw at anytime. I do not know how to play the game. I told her this from the beginning and she allayed my fears saying she would handle my profile for me. I cannot sit by and watch people bamboozle innocent people like this! We are talking about people’s hard earned monies here. Some had to borrow to join, others used their savings and today, somebody is telling us that she too has not received any earnings and that she does not work for Swissgolden. Is that not the height of madness and fraud? Does she know that ignorance is not an excuse?

Mr. Chijoke, another member of the group insists that the up-liner must take responsibility for whatever hiccups arise from the scheme. “She must take responsibility.  Even if I lose my investment, she must face the music. I am already compiling names of members towards writing a petition to the EFCC. Let my money be a sacrifice but I must use this opportunity to protect the interest of Nigerians who may be tempted to involve themselves in this nonsense. She claims she does not work for Swissgolden but she has been collecting money on their behalf and she regularly promotes their interest on her Whatsapp page. Is that not a wicked statement? What do I tell my down-liners whose monies I collected on the strength of this woman’s assurances?”

As at the time of filing in this report, members had begun to take necessary steps towards the next course of action which doesn’t look too good for the embattled up-liner. EVERY HOUR will continue to follow up on the situation and report back to you our esteemed readers as developments unfold.

Banji Jafar is the Online Editor of EVERYHOUR ONLINE.