Friday, 8 February 2013

The Eurextrade Ponzi scheme covered in the Botswana Guardian

The Botswana Guardian ran a story in late January about the Eurextrade Ponzi scheme entitled "Batswana lose millions in another investment scam" which you can see here.

The following week another story ran entitled "Batswana rebuff warning against scam" which you can see here.

A quote from Mel Brown of NBFIRA:
“Ponzi schemes are scams that pay initial investors with proceeds from new investors under the guise that they are making an actual business investment, when in fact the underlying business is non-existent or unsuccessful.   Eventually, there are not enough newcomers to pay the existing investors and the scheme falls apart”.
Denial is a very powerful thing.

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