- SU Global was accused of defrauding many Nigerians after luring them with mouth-watering ROI
- Reports have it that the owners of the investment company got married despite allegedly defrauding people of about N3.5 billion
- After one of the victims shared the story, many Nigerians also revealed their experiences in the hands of fraudsters
Nigerians shared their experiences in the hands of scammers after a newly wed couple reportedly scammed people to the tune of N3.5 billion. The couple were operating an investment firm under the name SU Global.
Findings by Legit.ng showed SU Global isn't registered with the Corporate Affairs Commission, but SUG Global System is, and has been registered since 1997, but currently inactive. Also, it is not listed by the Securities and Exchange Commission (SEC).
This is despite SEC being the regulator of investment market in Nigeria. Many unsuspecting investors fell to the alleged scam of SUG Global, resulting to loss between N50 million and N3.5 billions.
The accusations against SUG Global were made on social media platform, Twitter. The company offers three different ROI opportunities which includes 350 percent, 150 percent and 20 percent depending on duration of investment.
SU Global said on its platforms:
"The GOLD package allows you get a whooping 350 percent return on investment (ROI) made after 12 months.
"The SILVER package allows you get an awesome 150 percent of returns on investment made for 6 months.
"BRONZE package gives you a 20 percent returns on investment made for 3 months."
It claims to have 5000 active clients, 70,900 returns and 2050 premium partners. SU Global claim to have 9,000 dedicated support, but when Legit.ng contacted the investment company during office hour, all its contact lines were switched off.
It was also noted that all the social media pages on the website do not have social media landing page, as a click on the pages redirects to the website.
Other unregistered investment firms such as Wales Kingdom Capital, Voltac Group and Freedom Synergy Pro were mentioned.
Most of the victims of these ponzi scheme were lured into the fraud trap with 20% return on investment. Investment with such ROI are often spoken against by the SEC, describing these investment firms false prophets.
The investment market regulator has advised Nigerians to make their research by contacting their office when approached with such offer. The most popular ponzi scheme to have duped Nigerians are MMM and Loom.
Meanwhile, Legit.ng had previously reported that CapitalSage Limited has debuted it's new payment solution, CapiFlex, which will be competing against Flutterwave and Paystack.
The company intend to enable users have solutions to their payroll, payment gateways, pool of fund, APIs and solutions for office management which will help them track performance.
According to the company, CapiFlex is the answer to human resources professional problems. The platform also allows payment for airtime, data, payTV subscription, and more.