Weeks ago, a disclaimer surfaced on Somtoo Okoye blog urging people not to participate in Twinkas, the then new kid on the block as far as ponzi schemes are concerned (read here).
This week, hundreds of participants are lamenting after the popular peer-to-peer payment system crashed. Members said 21 days elapsed after they “provided help” but neither their capital nor 100 percent interest which is due for payment at the end of 3 weeks was paid.
A visibly angry participant, Popoola Oluwatolani Michael, speaking to our correspindent said,
“MMM NG [is] gone, Twinkas gone, Clarita gone, 2fund gone, MMM SA gone, 24RETUNED gone, Whatsapp group gone.
“All is gone without [me] collecting my money.
“Ponzi scheme is one of the name I don’t want to hear again. Anyone that tell me about Ponzi scheme is my enemy.”