Headline
Red flags! Seven Ways To Identify A Ponzi Scheme
Published
2 months agoon
By
Editor
Investing is one of the best ways to grow your money, but it also comes with risks, especially when scammers are involved. One of the most dangerous and common scams today is the Ponzi scheme.
Contents
1. High Returns with Little or No Risk
2. Not Registered with Any Financial Authority
3. Little or No Information About the Business Model
4. Payments Are Made Using Money from New Investors
5. It Relies Heavily on Referrals and Downlines
6. You Have Trouble Getting Your Money Out
7. It Has a Strong Cult-Like Following
READ ALSO: Canada-based Nigerian Arrested Over $610,382 Romance Scam
It looks like a normal investment at first, but it’s a trap that uses people’s money to pay old investors, until everything collapses. Here are some ways to identify a Ponzi scheme before it steals your hard-earned money.
1. High Returns with Little or No Risk
One of the biggest red flags of a Ponzi scheme is that it offers huge profits in a short time and claims there’s no risk at all. Real investments always have some level of risk. If someone tells you that you’ll get 40% returns every month with “zero risk,” that’s a lie and a likely sign of fraud.
2. Not Registered with Any Financial Authority
Legit investment companies are registered with government bodies like the SEC in the U.S. or the Corporate Affairs Commission (CAC) in Nigeria. A Ponzi scheme avoids regulation so that it can operate under the radar. Always check if the company is officially registered before giving them your money.
3. Little or No Information About the Business Model
A common trick used by Ponzi scammers is to be vague about how the money is actually made. They may use complicated words like “crypto arbitrage” or “forex auto-trading” without explaining the process clearly. If you don’t understand how the business works after asking questions, it’s likely a Ponzi scheme.
READ ALSO: Ponzi Operators Risk 10-Year Jail Term, ₦20m Fine In New SEC Law
4. Payments Are Made Using Money from New Investors
In a Ponzi scheme, early investors get paid with the money brought in by new investors, not from actual profits. This makes the system look like it’s working at first. But once new investors stop joining, the scheme crashes, and everyone loses their money.
5. It Relies Heavily on Referrals and Downlines
If the company pressures you to bring in more people and promises to pay you based on the number of people you recruit, be cautious. This setup is very similar to a Ponzi scheme. Real investments don’t depend on bringing in new investors to stay afloat.
6. You Have Trouble Getting Your Money Out
When it’s easy to put your money in but difficult to withdraw it, that’s a serious warning sign. Some Ponzi schemes delay or deny withdrawals with excuses like “system upgrades” or “high traffic,” especially when many people try to collect their money at once.
7. It Has a Strong Cult-Like Following
If everyone in the group blindly defends the investment, shuts down questions, and treats the founder like a hero, that’s another red flag. Ponzi schemes often use hype and emotion to trap people.
A Ponzi scheme can happen anywhere, online or offline, in any country or currency. The key to protecting yourself is to stay alert, ask questions, and never be in a rush to invest.
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Headline
US Says Strikes ‘Devastated’ Iran’s Nuclear Program
Published
4 hours agoon
June 22, 2025By
Editor
Unprecedented US strikes have wrecked Iran’s nuclear program, Defense Secretary Pete Hegseth said Sunday as Washington sought to assess what remained of the three targeted sites.
The surprise strikes threaten to deepen conflict in the Middle East after Israel launched a bombing campaign against Iran, with Tehran vowing to retaliate against US involvement.
But the United States said President Donald Trump wanted peace and urged Iran to end the conflict after strikes on a key underground uranium enrichment site at Fordo, along with nuclear facilities in Isfahan and Natanz.
“We devastated the Iranian nuclear program,” Hegseth told a Pentagon press briefing, adding that the operation “did not target Iranian troops or the Iranian people.”
Trump “seeks peace, and Iran should take that path”, Hegseth said. “This mission was not, and has not been, about regime change.”
READ ALSO:UK ‘Was Informed Of US Strikes’ On Iran, Plans Evacuating Briton Out of Israel
Standing beside Hegseth, top US general Dan Caine said that “it would be way too early for me to comment on what may or may not still be there.”
“Initial battle damage assessments indicate that all three sites sustained extremely severe damage and destruction,” he told reporters.
– Protests in Tehran –
People gathered in the center of Tehran to protest against US and Israeli attacks, waving flags and chanting slogans, state TV showed.
Trump claimed total success for the operation in an address to the nation hours after the attack, and Vice President JD Vance followed up on Sunday morning.
“We know that we set the Iranian nuclear program back substantially last night, whether it’s years or beyond,” he told ABC.
READ ALSO:US Struck Iran With B-2 Bombers, Submarine-launched Missiles – Top US General
“We’re not at war with Iran — we’re at war with Iran’s nuclear program,” he added. “The president took decisive action to destroy that program last night.”
In Tehran, AFP journalists said the roar of aircraft flying over the city was heard repeatedly for the first time since Israel’s initial attacks.
The UN’s International Atomic Energy Agency said it had not detected any increase in radiation levels at the nuclear sites and Tehran said Sunday there were no signs of contamination.
Iranian Foreign Minister Abbas Araghchi told reporters in Istanbul the United States and Israel had “crossed a very big red line,” asserting Iran would continue to defend itself “by all means necessary.”
Israeli Prime Minister Benjamin Netanyahu hailed the US strikes, saying Trump’s decision to “target Iran’s nuclear facilities with the awesome and righteous might of the United States will change history.”
READ ALSO:Iran Nabs 22 Suspected Israeli Spies Amidst Escalating Conflict
The Israeli military was also checking the results of the US raid on the deeply buried nuclear facility in Fordo, with a spokesman saying it was “too soon” to know if Iran had removed enriched uranium from the site.
The main US strike group was seven B-2 Spirit bombers flying 18 hours from the US mainland to Iran with multiple aerial refuelings, Caine said.
– Global concern –
In response to the US attack, Iran’s armed forces said they targeted multiple sites in Israel including Ben Gurion airport, the country’s main international gateway near Tel Aviv.
Israeli rescuers said at least 23 people were wounded.
In Jerusalem, Claudio Hazan, a 62-year-old software engineer, said he hoped the US intervention would hasten an end to the Iran-Israel war.
READ ALSO:Israel-Iran War: Stranded Nigerians Cry For Help From Underground Shelters
“Israel by itself would not stop… and it would take longer,” he said.
Israel said it had launched fresh strikes on western Iran and in Qom, south of Tehran. Iran’s official IRNA news agency reported four Revolutionary Guard members were killed in strikes on a military base in the city’s north.
The Israeli military said it had “struck missile launchers ready to launch toward Israeli territory, soldiers in the Iranian Armed Forces, and swiftly neutralized the launchers that launched missiles toward Israeli territory.”
Iran’s Shargh newspaper reported that a “massive explosion was heard” Sunday in Bushehr province, home to Iran’s only nuclear power plant.
Iranian news agencies also reported strikes in Yazd province.
The United Arab Emirates, Qatar and Oman, which had been mediating Iran-US nuclear talks, criticized the US move and urged de-escalation.
READ ALSO:UK Joins Other Nations In Pulling Embassy Staff From Iran
The European Union called on all sides “to step back,” while stressing Iran must not be allowed to develop nuclear weapons.
The Iranian foreign minister said he would travel to Moscow for talks with Russian President Vladimir Putin on Monday.
Following his address, Trump warned Iran against retaliation. Iran and its proxies have previously attacked US military bases in Iraq and elsewhere in the region.
Iran’s Huthi allies in Yemen on Sunday repeated their threat to resume attacks in the Red Sea if Washington joined the war, saying they were ready to target US ships and warships.
The US president had stepped up his rhetoric against Iran since Israel first struck the country on June 13, repeating his insistence it could never have nuclear weapons.
Tehran denies seeking an atomic bomb. On Saturday, President Masoud Pezeshkian said Iran’s right to pursue a civilian nuclear program “cannot be taken away… by threats or war.”
Headline
US Struck Iran With B-2 Bombers, Submarine-launched Missiles – Top US General
Published
4 hours agoon
June 22, 2025By
Editor
Seven stealth bombers were used in the US attack against Iranian nuclear sites, which apparently saw little response by Iran’s military, top general Dan Caine said Sunday.
Describing the complex operation, dubbed “Midnight Hammer,” Joint Chiefs Chairman Dan Caine said the “main strike package comprised of 7 B-2 Spirit bombers” flying 18 hours from the US mainland to Iran with multiple aerial refuelings.
READ ALSO:Iran-Israel War: ‘A Fire No One Can Control’, UN Warns
“Iran’s fighters did not fly, and it appears that Iran’s surface to air missile systems did not see us throughout the mission. We retained the element of surprise,” Caine added.
Headline
UK ‘Was Informed Of US Strikes’ On Iran, Plans Evacuating Briton Out of Israel
Published
4 hours agoon
June 22, 2025By
Editor
Britain was notified in advance of the US airstrikes on Iran’s nuclear sites, though it played no part in the military action, Business Secretary Jonathan Reynolds confirmed today.
“We were informed, as you might expect, by a key ally,” Reynolds told Sky News, adding, “We were not and have not been involved in these attacks.”
The strikes—launched overnight by US B2 stealth bombers and submarines—targeted Iran’s Fordow, Natanz, and Isfahan nuclear facilities. President Donald Trump hailed it as “a spectacular military success,” a claim Tehran swiftly denied.
READ ALSO:Israel-Iran War: Stranded Nigerians Cry For Help From Underground Shelters
The UK government is now working to evacuate British nationals trapped in Israel, after Iran launched a wave of retaliatory missiles. Reynolds said it would take “hours, not days” to evacuate them, citing airspace closures as the main delay.
Prime Minister Keir Starmer backed the US operation, describing Tehran’s nuclear programme as “a grave threat to international security.” He noted that the US acted to “alleviate that threat,” despite previously urging Trump to avoid military escalation.
Reynolds acknowledged public anxiety about the developments and warned of a possible rise in terrorism threats at home: “It would be naïve to say that that wouldn’t potentially increase.”
READ ALSO:Iran Nabs 22 Suspected Israeli Spies Amidst Escalating Conflict
Opposition figures supported the strikes. Kemi Badenoch said the US had acted “decisively against a regime that fuels global terror.” Reform UK leader Nigel Farage posted: “Iran must not be allowed to have nuclear weapons. The future of Israel depends on it.”
Iran’s Foreign Minister, Seyed Abbas Araghchi, condemned the US operation as “lawless and criminal behavior,” warning of “everlasting consequences.”
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