See Why Recharge And Get Paid Is A Ponzi Scheme And Therefore A Fraud
So I saw this post on Face book asking people to log in to a new money-making craze in town—Recharge And Get Paid. Instead of laying it bare, you drop your number to be contacted on Whatsapp.
I smelt a rat, if there was nothing to hide why dropping number to be contacted later on Whatsapp. I made a post along that line but instead of appreciating my comment it was rebutted which made up my mind for me to investigate the business model.
As fate would have it, somebody had included my number in a group on this and my phone was inundated with real hard sell which further fuelled my desire to get to the bottom of this.
So, Ladies and gentlemen, below are my finding.
Recharge And Get Paid is registerd by CAC and National Communication Commission (NCC) and the CEO is Oshopo Ositadimma Mbam .
The company among other things is registered to sell airtime and data for the major networks and also pay bills like IBEDC, GOTV , DSTV at a discount .
This is VTU business (Virtual Top Up) which is legit and as claimed in their 29 page sales promotion PDF, is done by banks and many companies.
When you recharge with Recharge And Get Paid Ltd. you get commission. For airtime you get a commission of 2% and for data you get a commission of 10%. For example, if you recharge N100, you get a commission of N2. If its data, you get N10. Legit business.
Recharge And Get Paid Ltd. (RAGP) claim on page 6 on their brochure, you can make millions of naira doing this selling to yourself, family and friends. Yes possible, if your circle is in hundreds of thousands.
Up to and including page 6, everything is legit if you ignore the bogus claims.
Page 7 is where the fraud starts.
You have to register and as usual there are grades
After registration you get back 20% bonus and some PV allocated to you to sell. If for instance you register with basic N5000, you get back a bonus of N1000. My question is why is the registration not N4000 straight away. Of course the guy understands how the brain works. If the guy is giving you back some bonus at the very start, it must be a good deal. Another question is what happens to the N4000? He eats it.
You now stat looking for referrals, your friends, your spouse, your work-mates, you church or mosque members etc , etc.
This is where this deal becomes a multilevel marketing and Ponzi scheme and therefore a fraud. Of course you will make your money back, just like the early birds but at the expense of your loved ones.
See this on page 12.
Kate to Bose, Bose to Ayo, Ayo to Musa. Some Nigerians still fall for this including graduates. Any graduate doing this should have his degree certificate withdrawn. Bunch of greedy dafts.
Anyway, It rambles on, until you get to 15 where you get incentives. Of curse there are incentives for thieves wh want to be rich without sweat.
Dubai Trip 0r N500,000
A Car or N2M and
The snag is that to qualify for this, you must be a platinum member with N50,000 registration. What a rogue.
In effect, what this guy has done is to attach referrals to airtime selling. Looks legitimate on the surface but a Ponzi scheme in reality. It is another Swiss Gold in making.
It may interest you that there are many VTU companies in Nigeria including RAGT but none has attached referral to their business.
Quick teller for example is one of the registered VTU companies in Nigeria. A very reputable company of which I am an agent. I use their platform to buy airtime and data for my use and get my commission.
I also use it to sell airtime and data to my staff and you can also use it to settle electricity bills and get commission. If I ha wanted to make it a business, I could open a shop for it and make some money. Those who are interested in VTU business will do well to register with Quick teller.
You register with N5000 and you get the N5000 straight back into your account. Not like our brother here who has joined referrals to an otherwise legit business.
I advise my readers to take time to read this thread in Nairaland where this fraud is exposed.
On RAGP site there is a public notice referring to a disclaimer by National Communication Commission. You can read that herehttp://rechargeandgetpaid.info/important-public-notice/?fbclid=IwAR2TPdEj0QUPdCORrO3PVycpocyZXU49NF749rMrSnWwRigRfTcSNRm4sRM
The attention of Recharge and get paid LTD (RAGP) has been drawn to the advert of the Nigerian communication commission placed in the Daily Trust and Daily Sun Newspapers dated Thursday, July 25, 2019, respectively.
If the model is ok why rebuttal by NCC? The truth is that RAGP can sell airtime with commission but he cannot ask for money and referrals. No government will approve a Ponzi scheme. Yes some will make money but many more will get hurt.
RAGP is not selling airtime and data, what he is selling is a Ponzi scheme.
We warned people on MMM to no avail.
We sensitized them on Swiss Gold, they didn’t listen.
We told them Social Market was a fraud, they say na lie.
We have warned you now o RAGP, if you like listen. Many will get hurt.
There are many businesses you can choose from here
If you like legit business as against Ponzi fraud, please share.