Residents of Flamingo in Minna, Niger State, accuse Mealshare Network of defrauding over 100 people in a bogus food subsidy scheme. Victims paid up to ₦86,000 expecting discounted food items, only to find the outlet shut and operators vanished. Police confirm investigation is ongoing.
“The offences contravene Section 15(2)(d) of the Money Laundering Act,” EFCC counsel tells Justice Aneke.
Packaged like a legitimate investment house, CBEX is the latest in a long list of Ponzi-style operations that have repeatedly preyed on the hopes and greed of unsuspecting citizens.
When will Nigerians ever learn? Ponzi schemes always pay the first few people to suck in the crowd. But they never fail to slay the last many people.
“Despite the painful history of financial scams, the trend of ‘get-rich-quick’ has continued…”