A popular Swedish Crypto Investment firm, has been selling its investment products to Nigerians. However, recent findings indicate a dark. dirty and illicit pilfering of huge sums of money earmarked for investment by unsuspecting investors who have come to rely on Crowd1 as a safe Investment haven for their savings, a bitter lie most of them later discovered that they were indeed dealing with another unfortunate episode of a Ponzi scheme. In what seems to be their organizational strategy, the Company sold a fake dream of investing a small amount to gain a large sum of money in varied investment circles with the shortest possible span to be within minutes of investing. More like investing a penny to reap a pound, in this context, investing kobos to reap large sums of Naira within a short period most times hours. This investment method, which promises quick returns within a short period, lacks logic in real economic terms.
A well-known Nollywood actor/producer and real estate investor, Mike, also known as MOC, fell victim to their scheme after responding to a Facebook ad promoting Crowd1’s products.
Mr. Emmanuel, a Crowd1 affiliate, played a crucial role in convincing their victims of the legitimacy of their scheme.
Below is a screenshot of their initial conversation, tailored to win Mike over as a lead. Crowd1, founded by Swedish business mogul Jonas Eric Werner and his partner Johan Stael Von Holstein, who supposedly serves as the CEO, has faced bans in several countries due to its nefarious activities, which are structured like a pyramid scheme
Paraguay, New Zealand, The Philippines, New Zealand, Burundi, Namibia, Gabon, Vietnam, and Ivory Coast; have all banned the services of Crowd1 from their respective countries owing to the widespread report on citizens losing their investments to the pseudo-Crypto Investment company.
They have expanded their business interests to Nigeria, a significant market in Africa with over 200 million population, as well as India, another large global market with a population of one billion people. The harsh living conditions in these countries, where poverty and unemployment are prevalent, have driven many desperate citizens to seek additional sources of income to supplement their meager earnings. Unfortunately, this is where Crowd1 comes in with their aggressive marketing tactics and fraudulent click baits to lure unsuspecting victims with their lead magnets, only to drain them of their hard-earned money.
Mike experienced the bitterness that comes with the deceitful messaging of Crowd1 after investing a total of N50,000, as seen in the screenshot below.
After the payment, MOC was asked to make an additional deposit of N28,550 in what the recruiter regarded as “KUWAIT FEE (whatever that means).
From the above evidence, it can be easily seen that Crowd1 led by the trio of Jonas, Johal, and Renze, has been reaping off innocent Nigerians in the name of making them financially buoyant and self-sufficient with no recourse to following the proper etiquettes and responsible financial practices. For this reason, MOC and others like him have lost their money to a ruthless gang of frauds who rely on their robust and aggressive marketing tactics to serendipitously arm-twist their victims to part with their savings albeit subtly.
We urge the Federal Government through the right agencies, to look into the Crowd1 which employs crazy marketing campaigns mostly online to cajole “investors” to sign up for their pyramid scheme all in the bid to be rewarded via huge financial kickbacks, only to lose their savings to this illegitimate company.
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