Finance

“Another Ponzi Scheme?”- Chinmark investors in dilemma as firm is unable to pay

Published

3 years ago

March 21, 2022

Investors of Chinmak Group, an investment company, have cried out on social media that their investment is about to go up in flames as the company has failed to meet its obligations..

The investors who took to social media said they are miffed at the silence of the company over its failed plans to pay them their monthly returns as promised by the company.

The Punch reports that about 45,000 aggrieved investors lashed out at the Chairman of the group, Marksman Ijiomah and social media influencer and the company’s brand ambassador, Amanda Chisom.

Reports say the investors have called out the trio of Ijioma, Chisom and Harrison Gwamnishu, a social media promoter for luring them into what many of them say is another Ponzi Scheme.

Early on the morning of Monday, March 21, 2022, investors alleged that a leaked bank document showed that the company does not have up to N1 million in its account as most of them invested more than that amount.

In a statement on his Facebook page, the CEO, Ijiomah confirmed that about 4,966 people invested in his company, promising that the investors would be paid in due course.

He said: “For all the inconveniences and frustrations that the delay in the repayment of this capital has caused you, we are very sorry and we apologize for all. We understand that people’s dreams and a lot of plans have been on hold by this delay, please accept our sincere apology.

“We have received lots of petitions from Government agencies by aggrieved partners, we truly understand how you feel; we humbly ask that you remain calm and exercise more patience while we sort out these repayments and pass-through this crisis as these petitions are affecting the timely execution of our business operations – which we depend on to make repayments.

“On behalf of our leadership team and all Chinmark Group employees, we thank you for your trust and ongoing support. Thank you for trusting the Chinmark Brand. We do not take it for granted, and once again, we reassure you that your funds are safe.”