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VIPortal, ponzi company
Forester
#141 Posted : Tuesday, January 20, 2015 10:54:38 AM
Rank: Member


Joined: 12/7/2010
Posts: 504
Location: Epicentre - Ngamia 1
stockshunter wrote:
murchr wrote:
And they are back in the news? Dang! its been a while since @Stockshunter showed up in Wazua...http://www.businessdailyafrica.com/How-investors-were-conned-Sh1bn-by-Kiambu-couple/-/539546/2595020/-/xxea0l/-/index.html



Niko kwa Chemist sasa, am happy to know that I have friends here.


Get well soon and take your meds faithfully hadi sukari irudi normal. Pole sana.
Build your own dreams, or someone else will hire you to build theirs - Farrah Gray.
stockshunter
#142 Posted : Tuesday, January 20, 2015 11:06:50 AM
Rank: Member


Joined: 1/16/2014
Posts: 114
Forester wrote:
stockshunter wrote:
murchr wrote:
And they are back in the news? Dang! its been a while since @Stockshunter showed up in Wazua...http://www.businessdailyafrica.com/How-investors-were-conned-Sh1bn-by-Kiambu-couple/-/539546/2595020/-/xxea0l/-/index.html



Niko kwa Chemist sasa, am happy to know that I have friends here.


Get well soon and take your meds faithfully hadi sukari irudi normal. Pole sana.


hahaha search the chemist post I did earlier this month and you will see what am doing in Chemist. I candidly acknowledged that I lost 20% percent of the I gambled with but apart from that last year was a good year.
fear makes people live a miserable life.
nakujua
#143 Posted : Tuesday, January 20, 2015 11:09:18 AM
Rank: Elder


Joined: 12/17/2009
Posts: 3,583
Location: Kenya
hi mambo ilikuwa serious hivyo, I remember a friend wa huko majuu kept on insisting I tafutia them a shop to rent hapo kiambu wajoin hi kitu.
liomungai
#144 Posted : Tuesday, January 20, 2015 11:33:22 AM
Rank: New-farer


Joined: 2/17/2010
Posts: 47
Location: Nairobi
dunkang wrote:
jmbada wrote:
This is the next level of Ponzi's, where they founder does not even pretend to be offering an investment of any kind. The "investors" are the greedy bunch who want to believe they are the first ones in and will make their return before pulling out ahead of everyone else! In my mind, these "first movers" are the very worst as they work as recruiters for the next layer. In the US, they are now pursued as aggressively as the founder, which should indeed be the case, going by @stockshunter's behaviour!

Having downloaded and watched all episodes of CNBC's American Greed (Seasons 1-7), VIPortal is a just ponzi scheme.


It had all been cast on stone for all to read. If you could only watch American Greed you will come to understand the con game even on the larger legal platforms like "GEMS"
People who look for easy money invariably pay for the privilege of proving conclusively that it cannot be found on this sordid earth
Swenani
#145 Posted : Tuesday, January 20, 2015 11:42:27 AM
Rank: User


Joined: 8/15/2013
Posts: 12,998
Location: Vacuum
Othelo wrote:
maka wrote:


Honestly they totally do...its just being greedy and stupid.

One guy lost 5.5 million like seriously!!!



Pole Othelo

Othelo wrote:
I am in this, round 2 .... i hope i will survive!


Poverty is the root of all evil
Caramba
#146 Posted : Tuesday, January 20, 2015 4:38:33 PM
Rank: Member


Joined: 10/27/2010
Posts: 266
Location: Nairobi
murchr wrote:
Wacha wanyolewe bila maji


Kabisa. You should have seen how those who advised caution against VIPortal were called names.

You can't help some people. Now there's a dude on Biz101 on FB who's come up with a brilliant idea targeting 50,000 simpletons to raise 1,000/= monthly and form a Sacco. They aim to raise 0.5 billion in ten months, ati to buy Corner Hse. What shocks me is the enthusiasm that has greeted that latest congame. They've even set meeting dates and venuesd'oh! d'oh! d'oh!
Museveni
#147 Posted : Tuesday, January 20, 2015 4:59:41 PM
Rank: Member


Joined: 8/16/2012
Posts: 657
Caramba wrote:
murchr wrote:
Wacha wanyolewe bila maji


Kabisa. You should have seen how those who advised caution against VIPortal were called names.

You can't help some people. Now there's a dude on Biz101 on FB who's come up with a brilliant idea targeting 50,000 simpletons to raise 1,000/= monthly and form a Sacco. They aim to raise 0.5 billion in ten months, ati to buy Corner Hse. What shocks me is the enthusiasm that has greeted that latest congame. They've even set meeting dates and venuesd'oh! d'oh! d'oh!


Pray

Hii ni campaign money ya 2017 Governor! Shhh Shhh
Live and learn; and don’t forget, nothing ventured, nothing gained.
Ash Ock
#148 Posted : Tuesday, January 20, 2015 6:16:07 PM
Rank: Member


Joined: 8/27/2010
Posts: 495
Location: Nairobi
Caramba wrote:
You can't help some people. Now there's a dude on Biz101 on FB who's come up with a brilliant idea targeting 50,000 simpletons to raise 1,000/= monthly and form a Sacco. They aim to raise 0.5 billion in ten months, ati to buy Corner Hse. What shocks me is the enthusiasm that has greeted that latest congame. They've even set meeting dates and venuesd'oh! d'oh! d'oh!


Laughing out loudly Laughing out loudly Laughing out loudly Laughing out loudly Laughing out loudly Laughing out loudly Laughing out loudly Laughing out loudly Laughing out loudly Laughing out loudly Laughing out loudly Laughing out loudly Laughing out loudly Laughing out loudly
Aiii, my stomach's hurting!!!!!
Laughing out loudly Laughing out loudly Laughing out loudly Laughing out loudly Laughing out loudly Laughing out loudly Laughing out loudly Laughing out loudly Laughing out loudly Laughing out loudly Laughing out loudly Laughing out loudly Laughing out loudly Laughing out loudly
Sent from my Black Nokia 3310
Ash Ock
#149 Posted : Tuesday, January 20, 2015 6:20:41 PM
Rank: Member


Joined: 8/27/2010
Posts: 495
Location: Nairobi
In all seriousness, it's quite understandable why people keep on falling for such financial scams:

Quote:
Hard to spot. Shouldn’t we know better by now? The unfortunate fact of human nature is that knowing better isn’t easy. Ponzi operations are typically light-years more sophisticated than the Nigerian money-transfer scams caught by your e-mail spam filter. As fraud expert and SEC trial counsel Pat Huddleston is fond of saying, “If it sounds too good to be true, you’re dealing with an amateur.” Madoff and his ilk don’t promise the moon; the returns they offer, albeit fictitious, are plausible.

For certain investors, Ponzi come-ons are like catnip. Risk-takers—not just in investing but in areas such as sports and hobbies—are vulnerable, says Tamar Frankel, a Boston University law professor and author of The Ponzi Scheme Puzzle: A History and Analysis of Con Artists and Victims. Victims often exhibit addictive personality traits, with the fear of loss outweighed by satisfaction in gains—or anticipation thereof. “You see it at the roulette table, and you see it in victims of Ponzi schemes,” says Frankel. Our need to belong explains why Ponzi schemes are so successful among affinity groups, and our craving for social status explains why, when Ponzi perpetrators try to turn would-be investors away, they fight all the harder to get in on the “exclusive” opportunity. Sophistication is no defense: Educated investors are often too confident in their own capacity to evaluate a deal.

Primed for trouble. Simply the way our brain processes information can lead to problems in the investing arena. Most of us have a general bias toward optimism. “Nobody thinks anything bad is going to happen. Otherwise, you’d never leave home in a world full of crime, germs and teenage drivers,” says Huddleston. A congruence bias prevents us from seeking evidence that conflicts with our impressions and leads us to discount such evidence if it’s presented.

Read more at http://www.kiplinger.com...tml#LVooMP0fQqETsB1X.99
Sent from my Black Nokia 3310
murchr
#150 Posted : Tuesday, January 20, 2015 7:09:57 PM
Rank: Elder


Joined: 2/26/2012
Posts: 14,481
Euge wrote:
Othelo wrote:
maka wrote:


Honestly they totally do...its just being greedy and stupid.

One guy lost 5.5 million like seriously!!!

What!


Its called having too much money in the wrong hands.
"There are only two emotions in the market, hope & fear. The problem is you hope when you should fear & fear when you should hope: - Jesse Livermore
.
butterflyke
#151 Posted : Wednesday, January 21, 2015 12:17:56 AM
Rank: Elder


Joined: 5/1/2010
Posts: 3,024
Location: Hapa
Quails have come home to roost.

Float like a butterfly, sting like a bee. - Muhammad Ali🐝
Lolest!
#152 Posted : Wednesday, January 21, 2015 9:35:43 AM
Rank: Elder


Joined: 3/18/2011
Posts: 11,493
Location: Kianjokoma
Othelo wrote:
maka wrote:


Honestly they totally do...its just being greedy and stupid.

One guy lost 5.5 million like seriously!!!

Wakenya wana pesa!! You only need to figure out how to get it from their pockets to yours
Laughing out loudly smile Applause d'oh! Sad Drool Liar Shame on you Pray
Lolest!
#153 Posted : Wednesday, January 21, 2015 6:58:12 PM
Rank: Elder


Joined: 3/18/2011
Posts: 11,493
Location: Kianjokoma
Sorry but some things are just too funny!!Laughing out loudly Laughing out loudly Laughing out loudly Laughing out loudly Laughing out loudly Laughing out loudly Laughing out loudly Laughing out loudly Laughing out loudly

Quote:
Samuel Njoroge, another investor, claims that VIP Portal had agreed to absorb any losses that would arise after trading using his cash. This was to give relief to investors who were afraid of losing their money, and was key in attracting more clients to try their hand in the business.

Further terms were that in case any losses were made, it would be absorbed by VIP Portal and not passed on to the investors. Pursuant to this, the members deposited money with VIP Portal expecting payment of their initial investment sum plus interest,” Mr Njoroge says.
Laughing out loudly smile Applause d'oh! Sad Drool Liar Shame on you Pray
murchr
#154 Posted : Wednesday, April 08, 2015 5:24:28 PM
Rank: Elder


Joined: 2/26/2012
Posts: 14,481
How online forex trading scam reeled in the innocents

Quote:
By October 2013, VIP Portal had spread across Limuru. In some cases, Mr Wangai asked investors to sell their land and deposit the money with VIP Portal with a promise that he would more than double it in less than a month, Mr Siahi said.


Laughing out loudly Laughing out loudly Laughing out loudly Laughing out loudly Laughing out loudly Laughing out loudly Laughing out loudly
"There are only two emotions in the market, hope & fear. The problem is you hope when you should fear & fear when you should hope: - Jesse Livermore
.
hardwood
#155 Posted : Wednesday, February 20, 2019 11:32:48 AM
Rank: Elder


Joined: 7/28/2015
Posts: 8,770
All is not lost....

https://www.the-star.co....ly-from-public_c1896625

Quote:
A couple accused of defrauding thousands of investors of millions of shillings has started repaying the money, a Kiambu court was told yesterday.

Alfred Wangai and Mercy Nkatha on Monday said that they have paid more than Sh900 million.

The couple owns an online forex trading company - VIP Portal - based in Limuru town, where thousands of people lost more than Sh1 billion after the couple promised to double the deposits.

Between October 2013 and September 2014, the couple engineered one of Kenya’s biggest forex trading scams through the forex firm.

Some 13,000 Kenyans lost about Sh1 billion to the couple within eight to nine months, according to the police. The investors were from several counties.

The couple allegedly told depositors they would use their capital to trade in stocks in internationally listed companies, but fell back on the promise as soon as the money was deposited in their account.

Every investor was asked to deposit a minimum of Sh25,000 at VIP Portal.

The couple promised investors dividends of between 60 and 80 per cent of the amount deposited for four consecutive months.

After the expiry of the four months, the investors would get their initial total deposits back.
Ecclesiastes 9:7 So go ahead. Eat your food with joy, and drink your wine with a happy heart, for God approves of this.
geofreygachie
#156 Posted : Wednesday, February 20, 2019 2:40:47 PM
Rank: Member


Joined: 2/27/2014
Posts: 453
Location: Republic of Enchantment.
hardwood wrote:
All is not lost....

https://www.the-star.co....ly-from-public_c1896625

Quote:
A couple accused of defrauding thousands of investors of millions of shillings has started repaying the money, a Kiambu court was told yesterday.

Alfred Wangai and Mercy Nkatha on Monday said that they have paid more than Sh900 million.

The couple owns an online forex trading company - VIP Portal - based in Limuru town, where thousands of people lost more than Sh1 billion after the couple promised to double the deposits.

Between October 2013 and September 2014, the couple engineered one of Kenya’s biggest forex trading scams through the forex firm.

Some 13,000 Kenyans lost about Sh1 billion to the couple within eight to nine months, according to the police. The investors were from several counties.

The couple allegedly told depositors they would use their capital to trade in stocks in internationally listed companies, but fell back on the promise as soon as the money was deposited in their account.

Every investor was asked to deposit a minimum of Sh25,000 at VIP Portal.

The couple promised investors dividends of between 60 and 80 per cent of the amount deposited for four consecutive months.

After the expiry of the four months, the investors would get their initial total deposits back.

It has been tough for Wangai.

Divers - can you laugh in scuba gear, or will you drown? I was wondering. - James May.
Jimmii
#157 Posted : Thursday, February 21, 2019 5:59:02 AM
Rank: New-farer


Joined: 10/29/2018
Posts: 10
Location: Nairobi
I'm wondering how they have managed to raise the 900 million, as I'd assume they had already spent the amounts they had initially collected from investors. What kind of business would they be running in order to raise that amount? Maybe a similar forex venture in secret?
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